MI5, FBI chiefs warn of ‘game-changing’ threats from China | Military News

The heads of the United Kingdom and the United States’ domestic intelligence services have raised alarms about Chinese economic espionage in a rare joint address in London. Ken McCallum, the director of the UK’s MI5, said on Wednesday that the Chinese government’s “covert pressure across the globe” amounts to “the most game-changing challenge we face”, … Read more

Red states recovered faster from COVID pandemic than blue states: report

Republican-run states such as Florida, Texas, Utah, and the Carolinas enjoyed a swifter economic recovery from the pandemic compared to Democratic-leaning states which saw residents and companies leave for lower-tax havens, according to a report. Federal data shows that red states have seen their share of total US jobs grow beginning in February 2020, a … Read more

Germany’s much-vaunted trade surplus disappears as import prices surge

Germany trade entered negative territory in May, raising questions about the stability of its economy in the wake of Russia’s invasion of Ukraine. Picture Alliance | Picture Alliance | Getty Images Germany is no longer exporting more than what it buys from other countries, highlighting the strains that the nation and other European economies are … Read more

Finland and Sweden move a step closer to NATO membership

Sweden and Finland have taken another step in joining NATO, meaning only a formal ratification of their accession agreement is now left. Anadolu Agency | Anadolu Agency | Getty Images Finland and Sweden on Tuesday moved a step closer to becoming full members of NATO with the formal signing of their accession agreement with the … Read more

Chinese cities face new strict COVID restrictions as cases rise

The Chinese government is again clamping down on cities where clusters of coronavirus cases have emerged, as the country looks to achieve its far-reaching “zero-COVID” policy. Cities in eastern China faced new sets of restrictions, including closed supermarkets, no in-person dining and canceled flights, threatening the country’s economic rebound. The tightened measures came after Shanghai … Read more

UN condemns protesters’ storming of Libya’s parliament

CAIRO — A senior UN official for Libya on Saturday condemned the storming of the parliament’s headquarters in the east of the oil-rich country as part of protests in several cities the previous day against the political class and deteriorating economic conditions. Hundreds of protesters marched in the streets of the capital, Tripoli, and other … Read more

As China tightens grip, Hong Kong’s luster as ‘world city’ dims | Business and Economy

Hong Kong, China – German entrepreneur Joseph loved his life in Hong Kong. When not tending to his logistics company, he would enjoy strolls along the waterfront promenade, weekend brunches in the upscale Soho district and foot and back massages to relieve the daily stresses of life. But less than two years after setting up … Read more

New G-7 infrastructure plan offers alternative to China Belt & Road

The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match the BRI. On Sunday, the US and the other members of the G-7 including Canada, … Read more

G-7 set to back pursuing Russian oil price cap, tariff hikes

ELMAU, Germany (AP) — The Group of Seven economic powers are set to commit themselves to supporting Ukraine for the long haul, with the US preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv. Leaders are also set to announce an agreement to pursue a price cap on Russian oil, raise … Read more

G7 leaders discuss price cap on Russian oil over Ukraine invasion | Russia-Ukraine war News

G7 leaders meeting in Germany discuss plans to reduce Russian revenues from oil exports amid a surge in energy prices. Leaders of Group of Seven (G7) nations have discussed plans to cap the price of Russian oil in order to put the squeeze on Moscow, which is benefiting from soaring energy prices, and cut off … Read more