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The Latest Breaking News from G7

Homeowners told not to expect interest rate cut until 2025 as mortgage squeeze goes on

Leading economists at the OECD also stressed the UK would have the second slowest GDP growth of the G7 group of wealthy nations

Evening Standard

Japan ramps up Russia sanctions with G7, condemns nuke deployment in Belarus

Japan will place additional sanctions on Russia after the Group of Seven (G7) summit the country hosted last week agreed to step up measures to punish Moscow's invasion of Ukraine, Chief Cabinet Secretary Hirokazu Matsuno said on Friday.

Reuters

In symbolic Hiroshima, U.S. allies size up an ascendant China and unpredictable Russia

U.S. President Joe Biden and Japan's Fumio Kishida met for talks in the deeply symbolic city of Hiroshima on Thursday, aiming for closer cooperation in the face of an ascendant China and an unpredictable Russia they see as threatening the post-war order.

Reuters

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Biden cancels Australia and Papua New Guinea visit as debt limit crisis looms

President, who will still visit Japan for G7 summit, hosts new talks with congressional leaders

The Guardian - US

Western officials finalizing plans for Russia oil-price cap

U.S. and Western officials are finalizing plans to impose a cap on Russian oil prices amid a warning from the World Bank that any plan will need active participation of emerging market economies to be effective.

Reuters

Russia-Ukraine war live: UK defence secretary dismisses Russia’s claims Ukraine plans to escalate conflict – as it happened

Russia’s defence minister, Sergei Shoigu, makes calls with UK, US, French and Turkish counterparts on Sunday

The Guardian - UK

UK is only G7 country with smaller economy than before Covid-19

ONS says GDP grew by 0.2% in three months to June, suggesting Britain is not in recession

The Guardian - UK

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UK workers set for worst pay rise of all G7 countries, report says

UK workers are set to receive the worst pay rises out of all the G7 countries, a new report has warned.

The National (Scotland)

Global energy price cap: market manipulation whose time has come?

Analysis: It may sound like Marxism, but the proposal aimed at taming prices and cutting Putin’s funds came from the G7

The Guardian - UK

Where is the G7 summit 2023 taking place, who is attending, and what are the key issues?

Japan’s Prime Minister Fumio Kishida expressed his goal for ‘a world without nuclear weapons’ ahead of the G7 summit in Japan

Evening Standard

‘Let’s show our pecs!’ Boris Johnson and Trudeau mock Putin’s topless horse riding

‘We all have to show that we’re tougher than Putin,’ British PM tells fellow G7 leaders

The Independent UK

Johnson says his government is ‘exceptional’ as he tries to calm Tory MPs

PM struggles to defuse row triggered by insistence that he would remain in office until 2030s

The Guardian - UK

Downing Street say it's 'too early' to tell if Brexit is shrinking UK economy

Boris Johnson's spokesman insisted Brexit will boost the economy in the 'long-term' after figures showed Gross Domestic Product (GDP) shrinking by 0.3% in April

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