Joe Biden and Boris Johnson will hold their first face-to-face meeting Thursday, during which they will lay the foundations for a new pact, despite Brexit and its consequences in Northern Ireland casting a shadow on the old “special relationship”. Biden — on his first overseas tour as US president — and the British Prime Minister […]
G7
Australia PM presses G7 on trade reform to rein in China
G7 nations must overhaul global trade rules to stop powerful countries using economic coercion, Australian Prime Minister Scott Morrison said Wednesday ahead of a meeting of the group’s leaders in Britain. As Australia’s shadow trade war with its largest trading partner China shows few signs of abating, Morrison told the Perth USAsia Centre that the […]
G7 commits to ‘at least 15% global minimum corporate tax’
Finance ministers from wealthy G7 nations on Saturday pledged to commit to a global minimum corporate tax of at least 15 percent, rallying behind a US-backed plan. “We… commit to a global minimum tax of at least 15 percent on a country by country basis,” a statement said after their London meeting, adding that they […]
G7 nations hopeful of ‘historic’ corporate tax deal
Finance ministers from wealthy G7 nations were Saturday expected to formally announce support for a minimum level of corporate tax in a landmark move aimed at getting multinationals — especially tech giants — to pay more into pandemic-hit government coffers. According to a draft communique seen by AFP, the finance chiefs and central bankers of […]
G7 to end state financing for coal power plants by end-2021
Berlin: The Group of Seven wealthy nations on Friday agreed to end state financing of coal-fired power plants by the end of this year and to “mostly decarbonise” their electricity supplies in the 2030s. “The G7 agree that further investments worldwide in coal-fired power generation must stop now, as they are not compatible with the […]
Libya in focus at G7 foreign ministers meeting, minus Pompeo
Foreign ministers from the G7 group of nations will discuss the threat of a resurgence in Libya’s civil war at a meeting in western France on Friday, as world powers scrambled to defuse a dangerous escalation in the oil producer’s power struggle. A military advance towards Tripoli and Libya’s U.N. backed government by eastern commander […]
US blames Canada for G7 fiasco, says Trudeau ‘stabbed us in the back’
The US blamed Canada on Sunday for the disastrous ending to the G7 summit, saying Prime Minister Justin Trudeau “stabbed us in the back,” while American allies held Washington responsible. Just minutes after a joint G7 communique was published Saturday in summit host city Quebec, President Donald Trump launched a Twitter broadside, taking exception to […]
The G7/G8: where the big powers meet informally
The G7, which ends a two-day summit in Canada on Saturday against a background of tensions, is an informal grouping of major powers created in 1975. Originally established as a vehicle for leading industrialised democracies to discuss the global economy, it has expanded its scope to issues such as peace, the environment and terrorism. Often […]