Intergovernmental economic forum of rich democracies
Nvidia has announced memorandums with six Wall Street firms to assemble about $500 billion to finance AI infrastructure — data centres, GPU clusters and related compute — for customers that lack cash or credit. Executives are pitching compute as an investable asset class while analysts warn depreciation risk and competition from China could erode collateral value.
The 60-day window for a comprehensive Iran-US peace deal has expired. Talks over reopening the Strait of Hormuz remain unsettled as both sides accuse the other of violations. Trump has publicly claimed a backchannel with Iran’s IRGC, while Iran and Oman pursue a route to restore shipping lanes.
The Pacific Fleet has fired Bastion coastal missiles from Etorofu, simulating an attack on enemy ships at about 300km. A submarine and a guided-missile cruiser took part, with exercises running from 4 August to 29 August and prompting protests from Japan over regional territorial disputes.
The UK has formalised support for Ukraine by sharing blueprints for long-range Scalp missiles, a French variant of the Storm Shadow. Kyiv is set to produce components domestically. Russia has warned of retaliation, while UK leaders press ahead with allied security cooperation and sanctions enforcement.
The UK has granted Ukraine access to declassified blueprints for British-made components used in the Scalp missile, the European-produced version of the Storm Shadow. Russia has warned of consequences and highlighted potential threats to UK bases in Europe as Kyiv deepens its defense production.
US forces have carried out strikes on Iranian rocket launchers on Larak Island after they detected efforts to deploy rockets with naval mines into the Strait of Hormuz. Iran has launched missile and drone attacks at US bases in Jordan and the UAE in response. Both sides are signalling readiness to hit back again while diplomatic and economic pressure continues.
Prime Minister Andy Burnham has told Labour MPs he will not cast a vote on the Terminally Ill Adults (End of Life) Bill when it returns to the Commons on 11 September. He has written that he has personal views but will not influence the debate and has asked ministers to avoid public advocacy so MPs can exercise a free vote.
Ukraine faces a tough winter as Russian strikes target energy infrastructure. Officials warn of power and heating shortages while Kyiv seeks to sustain essential services amid a barrage of drone and missile attacks. Ports, grain plans and drone activity shape the broader conflict landscape.
Russia's finance minister has attended G20 finance talks in Asheville for the first in-person time since 2022. US Treasury Secretary Scott Bessent has met him and told him that no sanctions relief or economic agreements are possible while the war in Ukraine continues. European officials have refused to treat Russia as a normal participant and skipped a group photo with him.
Global government bond yields have risen to multi‑decade highs after renewed US–Iran fighting pushed Brent oil toward $90–$97 a barrel and raised inflation expectations. Markets are pricing tighter central‑bank policy; UK gilt yields and US Treasuries have climbed sharply, forcing higher mortgage and corporate borrowing costs and shrinking fiscal headroom for many governments.
Chinese president Xi Jinping has visited Cairo for the first time in a decade and has met President Abdel Fattah el‑Sisi. The two governments have signed new economic deals, launched a third phase of the Suez Canal industrial zone and discussed cooperation on artificial intelligence, defence and maritime security as regional trade routes face disruption from the US‑Israel war with Iran.
Burnham has presented a three-hour Commons statement outlining a plan to restore growth and reduce the deficit, while defending his early tax cuts as the economy faces rising borrowing costs and market volatility.
The UN General Assembly has voted 164–1 to encourage use of equal-area map projections, led by Togo and backed by the African Union. The non-binding resolution recommends the Equal Earth projection for schools, governments and tech companies. The United States cast the sole vote against; six states abstained.
Kravchenko has offered his resignation as Ukraine’s prosecutor general, citing political reasons, while anti-corruption agencies allege a money-laundering network tied to call centres. Kyiv faces ongoing pressure as anti-corruption probes proceed and Ukraine navigates political tensions during the war.
Nigeria’s political and religious leaders are urged to promote peaceful, issue-based campaigns ahead of the 2027 elections. Tinubu-backed church leaders call for unity and restraint while condemning violence and incitement; opposition and security concerns are highlighted in ongoing unreleased tensions.
Singapore has revised ministerial pay, boosting the prime minister’s benchmark to S$3.6 million and other ministers’ salaries. Existing officeholders will receive a one‑off up to 9% raise this Oct, with further adjustments based on performance. Prime Minister Lawrence Wong pledges to donate his increase to charity.
Leaders from BRICS are meeting in New Delhi for a summit that will test ties between India, China and Russia while India balances relations with Western partners. Japan's Okinawa has held a governor race that is reflecting economic concerns. Several Asian policy and business events this week include a Philippine AI infrastructure plan, a Huawei trial in New York and Hong Kong's BIOHK2026 conference.
Analysts predict the ONS will show a 0.1% drop in monthly GDP for July, offset by a surge in accommodation and food services. June growth was supported by hot weather and World Cup excitement, but forecasters expect a correction in Q3 as household spending slows and energy costs weigh on utilities.
BRICS leaders have convened in New Delhi amid efforts to shape a new multipolar order. While a joint declaration has been reached, divisions on Middle East war, trade imbalances, and regional alignments remain. Xi Jinping and Narendra Modi are steering the bloc toward strategic autonomy, with tensions over balancing Western influence and internal disagreements evident.
Gulf states and Iran have been negotiating a temporary shipping framework for the Strait of Hormuz amid ongoing war-related disruptions. Oman and Iran are coordinating on routes while Bahrain has declined participation. Oil-price volatility remains as markets watch for a regional security framework to emerge.
BRICS leaders gather in New Delhi amid tensions from the US–Iran war, amid broader global upheaval. The expanded bloc faces divisions over how to respond to Middle East conflicts, energy markets, and trade wars, while stressing a Global South-led reform agenda.
Samsung and SK Hynix shares fall more than 3% as DeepSeek says it has reduced high-bandwidth memory in its AI models, dimming investors’ optimism after July’s rebound and amid rate-hike fears.
The EU will propose a new law to shield children from social media harms, while Ursula von der Leyen is due to outline a possible age limit for minors. Canada’s Carney will address the European Parliament as Brussels pushes for safer platforms and closer Canada–EU ties.
Inflation has climbed to 3.1% in August, driven by higher fuel prices and airfares, with energy bills expected to push prices higher in October. The ONS notes some items cooled, but the trend points to further gains in the months ahead as energy pressures persist.
Nvidia CEO Jensen Huang has placed President Trump on speaker during a tech conference conversation with All-In podcast hosts and defended continued data centre and AI development. Trump has warned against what he called efforts to block data-centre construction and has pledged support for the industry, while polling shows strong local opposition to new data centres over environmental and cost concerns.
European leaders report intensifying Russian hybrid attacks targeting critical infrastructure and defense sites. Macron has directed measures to shield infrastructure, prepare for drone and cyber threats, and coordinate a G7 response on energy amid rising prices and security concerns. Poland and Baltic states are boosting defenses as NATO monitors potential spillovers from the Ukraine conflict.
Displacement inside Yemen has surpassed 100,000 as Yemen’s western coast sees renewed fighting. Thousands have fled by sea to Djibouti, and UN agencies warn of humanitarian funding gaps and stretched shelters, water, and healthcare services.
Traffic through the Strait of Hormuz has dwindled to a trickle, even as Middle Eastern producers continue exporting oil risking transponders-off shipments. Trackable vessels show several departures and arrivals, with Saudi exports recovering and Iraq contributing a substantial share. Analysts say flows remain resilient despite disruptions.
The Iran-aligned Houthis have seized Yemen’s Red Sea coastline, triggering new displacement, threatening global trade, and drawing international calls for an immediate halt to hostilities. The UN warns of a funding shortfall as more than 130,000 Yemenis are displaced and tens of thousands seek refuge by sea.
The OECD has updated its global forecast, predicting UK growth of 1.1% in 2026 and 1% in 2027, with inflation easing to about 3.1% this year. It cautions that energy shocks from the Middle East war and higher fuel prices could lift inflation and slow growth next year, though the UK shows resilience in domestic demand.
Diesel prices have surged to new highs in the UK amid global supply disruptions linked to the Iran war and Russia-Ukraine conflict. The US is weighing export bans to ease domestic pain, while Europe and the UK face rising costs and tight supplies. Authorities warn prices will likely rise further as markets react.
World powers confront a disrupted multilateral order as calls for UN reform intensify amid rising great-power competition, unilateral actions, and debates over the UN's future role in maintaining global stability.
Nepal has suffered a devastating flood triggered by a glacial collapse, killing over 1,400 people with thousands missing. International leaders are calling for climate resilience and funding, while Nepal seeks support for recovery and adaptation.
Ukrainian cities face renewed attacks as Moscow escalates strikes across Kyiv and other regions. Civilian casualties are reported, and residents brace for a harsher winter while international talks show little progress.
G20 trade ministers in Milwaukee have failed to reach consensus on countering overcapacity and eliminating forced labor from supply chains. A Milwaukee framework on steel excess capacity has emerged, data sharing is expanding, and some ministers are pushing for new trade measures, while China remains a central point of contention.
Ukraine has sustained strikes on Russian targets as Russia escalates attacks on Ukrainian infrastructure. Civilians remain at risk as both sides exchange long-range strikes and diplomacy remains stalemated. The war has disrupted grain flows and energy markets globally.
Diesel prices in the UK have reached a record average of 199.18p per litre as supply pressures from the US–Israel conflict with Iran and Russia’s war in Ukraine have driven global fuel costs higher. Chancellor Keir Healey has said the government has discussed the situation with the US and is preparing to use UK stocks if needed.
The government has announced reforms to require airlines to seat children under 14 next to a parent free of charge and to allow free corrections of booking names. The Civil Aviation Bill is expected to deliver these changes after Royal Assent, with aims to curb petty charges and bring uniform rights across carriers.
Global discussions have centered on a devastating Nepal flood triggered by glacier collapse and permafrost thaw. Nepal argues for grant-based aid and regional resilience measures, while the international community contemplates funding through the Loss and Damage mechanism and other climate finance channels.
Oil markets are adjusting amid renewed attacks near the Strait of Hormuz and coordinated fuel releases by the G7 and IEA. While some shipments resume, the risk to global supply remains elevated as tensions persist and sanctions pressure grows.
UK forecourts will display locations and pricing via the government Fuel Finder on Google Maps from today. Ministers say motorists can save on pump prices as prices rise globally amid the Middle East war; AA and CMA warn data accuracy and coverage remain uneven.
Trump says Putin has agreed to deliver hundreds of thousands of tons of diesel to the U.S. and global markets in staged amounts, with prices expected to fall sharply. The announcements come as Ukrainian and European diplomats convene in Miami to discuss ending the war and easing energy sanctions.
President Donald Trump has negotiated for large shipments of Russian diesel to enter global markets and has pressed Ukrainian President Volodymyr Zelenskyy to halt strikes on Russian refineries. European officials and some U.S. senators have warned the move will strengthen Moscow’s war effort; Zelenskyy has publicly accused Trump of betrayal and sought additional air‑defence deliveries.
The United States has struck a deal to receive hundreds of thousands of tons of Russian diesel to the global market, while U.S. diesel prices stay elevated ahead of midterm elections. Analysts warn the move will not guarantee relief at the pump, as global markets and refinery capacity shape prices. Zelensky condemns the plan as a gift to Putin.
The IEA reports tight diesel supply as demand remains fragile amid geopolitical shocks and shale and Gulf disruptions. The U.S. and Europe are considering stock releases to ease prices, while market volatility persists.
Missiles and drones strike at Saudi airports and oil facilities amid the Yemen conflict; multiple countries respond with air-defense interventions and troop deployments. Brent oil tops $100 as the Red Sea shipping lanes face renewed threats.
The Bundibugyo-ebola outbreak has intensified, with Nigeria reporting a confirmed case in Abuja after a traveler from Uganda, Kenya recording a ninth case, and Uganda declaring no active infections. The outbreak has now reached three African regions, challenging surveillance and containment efforts as authorities speed up contact tracing and mobilize resources.
Protests demanding higher teacher pay and cost-of-living relief have intensified economic strain in France. Markets are reacting to a fragile fiscal outlook, with debt costs rising and political uncertainty shaping investor confidence ahead of a presidential race.
Trilateral talks among Ukraine, Russia and the United States are set for Abu Dhabi in early November, with European involvement urged. Zelenskyy seeks Western unity and stronger pressure on Russia as European leaders pressure de‑escalation and swift military and humanitarian aid.