|G7 leaders attend a working session during their summit at Bavaria’s Schloss Elmau castle, Germany, June 28, 2022|
- G7 leaders have agreed to study placing global price caps on imports of Russian energy to curb Moscow’s ability to fund its invasion of Ukraine and to contribute up to $5 billion to address global food insecurity. Here’s why a Russian oil price cap is easier said than done.
- Iran, which holds the world’s second largest gas reserves, has applied to join the BRICS group of Brazil, Russia, India, China and South Africa that Beijing and Moscow cast as a powerful emerging market alternative to the West.
- The European Central Bank’s upcoming bond-buying program will rein in rising borrowing costs for vulnerable euro zone countries while keeping the pressure on their governments to repair their budgets, the ECB’s President Christine Lagarde said.
- Toshiba shareholders voted in two board directors from activist hedge fund investors at its annual general meeting – an inclusion expected to add momentum to its exploration of potential buyout deals.
- Investors in ether and its troubled twin stETH are nervously anticipating a crypto milestone: The merge. That’s the name for a major upgrade of the Ethereum blockchain network upon which many crypto projects are built, aimed at making it leaner, meaner and cleaner.