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The Latest Breaking News from G7

G7 ministers discuss trade security and China dependence in Paris

G7 trade ministers were holding a second day of talks in Paris on Wednesday as the global economy faced growing pressure from US tariff threats, war in the Middle East and concerns over dependence on Chinese raw materials.

Radio France Internationale

France urges faster methane cuts as emissions remain at record high

France is using its G7 presidency to press for quicker global action on methane, as a major energy report warned emissions from fossil fuels remain stubbornly high.

Radio France Internationale

G7 central banks poised to hold borrowing costs amid concerns over prolonged Iran war

Critical week for global economy as banks expected to issue warnings over conflict driving up prices

The Guardian - UK

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Here’s how Canadian households can recession-proof finances as economic uncertainty climbs

Canada’s economic policy uncertainty index has climbed back to levels not seen since the COVID-19 pandemic, a sign that a more volatile period may be taking hold. Income inequality hit a record high last year, and youth unemployment reached 14.6 per cent in September 2025, its highest point since 2010,…

The Conversation

France leaves climate change off G7 environment summit agenda to placate US

G7 environment ministers in Paris have excluded climate change from their agenda to placate the United States, which has withdrawn from global climate agreements.

Radio France Internationale

Newsletter: At first summit without Orbán, Zelenskyy rejects 'symbolic' EU membership

Also in this newsletter: EU approves €90 billion loan for Ukraine after Hungary lifts controversial veto.

Euronews

EU agrees fresh sanctions on Russia but leaves maritime services ban on hold

Due to Greece and Malta's concerns, the full ban on maritime services will be left on hold pending an agreement at the G7 level. The US, however, is going in the opposite direction by providing sanctions relief to Russia.

Euronews

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Taxes on UK workers have risen at fastest rate in rich world, says OECD

Economic body found Britain had the biggest increase in ‘tax wedge’ out of 38 member nations last year

The Guardian - UK

EU launches procedure to unblock €90bn Ukraine loan and new Russia sanctions

Hungary's contentious veto on the €90 billion loan for Ukraine is fast approaching its end after the restoration of the Druzhba oil pipeline.

Euronews

Newsletter: EU set to unlock €90 billion for Ukraine after Hungary power shift

Also on today's newsletter: Luxembourgish Foreign Minister Xavier Bettel and former Finnish Prime Minister Sanna Marin joined us.

Euronews

EU optimistic about ending Hungary's veto on €90 billion loan for Ukraine

Brussels is ready to move on with the €90 billion loan for Ukraine as soon as Hungary removes its controversial veto. The resolution could also pave the way for the adoption of a new package of sanctions against Russia.

Euronews

UK 'On Brink' Of Recession — 250,000 People Could Lose Jobs By Mid-2027 Due To Iran War

EY Item Club warns the UK will 'flirt with recession' as the Iran conflict oil shock pushes unemployment to 5.8 per cent and halves GDP growth forecast.

International Business Times UK

Orbán's defeat and US shift raise hopes to unblock EU sanctions on Russia

After Viktor Orbán's defeat at the polls and Washington's decision to phase out waivers for Russian oil, hopes are rising in Brussels that a package of sanctions against Moscow will finally be unlocked.

Euronews

Trump and Meloni: From close relations to a transatlantic crisis

The relationship between Trump and Meloni was typified by warm handshakes and even warmer words until the US leader did something considered by most Italians to be unthinkable: he criticised the pope.

Euronews

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The Independent UK

As recession looms, Donald Trump desperately needs a deal

THE INDEPENDENT VIEW: Editorial: As red warning lights flash on the world’s economy, the man who claims to be the master of the art of dealmaking has never needed a win more

The Conversation

Canada is producing more graduates than ever — so why is it harder to find a job?

Canada has a paradox at the heart of its labour market. The country leads the G7 for the most educated workforce and is producing more graduates than ever before. Yet for millions of young Canadians, the path from school to stable work has never been harder.

The Guardian - UK

Reeves arrives at IMF with little leeway to prove its UK downgrade wrong

Chancellor faced with fund’s forecast that impact of Iran war will leave Britain as G7’s biggest loser

Evening Standard

IMF slashes UK growth forecast as Britain's economy faces biggest shock of G7 nations due to Iran war

Chancellor Rachel Reeves said the war ‘will come at a cost to the UK’ following the IMF’s gloomy outlook

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The Independent UK

UK economy faces hardest hit of G7 from Iran war says IMF as growth forecast cut

Chancellor Rachel Reeves said the war ‘will come at a cost to the UK’ following the IMF’s gloomy outlook.

The Guardian - UK

Iran war escalation could trigger global recession, IMF warns

Growth forecasts cut for US and global economy, while UK suffers sharpest downgrade in G7

The Independent UK

Trump’s Iran war could trigger global recession, IMF warns

UK growth slashed as worldwide economy could be thrown ‘off course’, with the risk of an energy crisis ‘on an unprecedented scale’

Euronews

Over 40 countries launch coalition to secure Strait of Hormuz

The multinational coalition will pursue "the collective mobilisation of our full range of diplomatic and economic tools" to enable a "safe and sustained opening" of the Strait of Hormuz, said the British foreign secretary.

The Guardian - UK

A third inflationary shock in less than a decade is coming: who will pay the price this time around?

Brutal past experience has taught us that a cost of living crisis doesn’t affect us all the same, because we don’t all go into it with the same income or wealth, says Guardian columnist Aditya Chakrabortty

Euronews

US to reconsider relations with NATO over Iran, Rubio warns echoing Trump threat

The United States is reassessing its role in NATO citing disappointment with European allies. EU leaders have stressed they will help in the Strait of Hormuz once hot phase of war is over, but insist NATO is a defensive alliance.

Axios

Trump attacks allies, signals Iran war may end without opening Hormuz

Trump lashed out at the U.K. and France on Truth Social.

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