G7 finance chiefs move to diversify supply chains

They stressed the need to strengthen financial stability after the recent banking sector turmoil, adding that their governments “stand ready to take appropriate action”. Three regional US banks have collapsed since early March, sparking panic among customers and causing turmoil in stocks of mid-sized institutions. Pledging to “address data, supervisory and regulatory gaps in the […]

Japan faces pressure over G7 fossil fuels in climate talks

However, as the energy crisis triggered by the Ukraine war squeezes the G7 countries, including this year’s President Japan, divisions have arisen within the grouping. A French government source said his ministers were trying to “avoid or prevent any reversal on fossil fuels”, describing “difficult” discussions between the bloc. The draft statement calls on nations […]