
G-20 Pledges to Strengthen Cooperation as It Seals Communique
'The global economy is facing heightened uncertainty and complex challenges, including ongoing wars and conflicts, geopolitical and trade tension,' the communique will say, according to the sources, who spoke on the condition of anonymity to discuss the closed-door deliberations.
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France to become first G7 nation to recognise Palestine as a state
Emmanuel Macron has said France will recognise Palestine as a state later this year. The French president announced the major change of policy in a letter to the president of the Palestinian Authority, Mahmoud Abbas, which Mr Macron also published online on Thursday evening. The French leader said he will make the formal announcement at the UN General Assembly, being held in September. France will become the first G7 member to recognise a Palestinian state. In his post explaining the decision, Mr Macron called for an immediate ceasefire in Gaza, the release of the hostages and for much more humanitarian aid to reach those in the territory. But Israel's prime minister Benjamin Netanyahu has condemned Mr Macron for this, and said that it "rewards terror and risks creating another Iranian proxy". In a post on X on Thursday evening, Mr Netanyahu added that a "Palestinian state in these conditions would be a launch pad to annihilate Israel - not to live in peace beside it". He warned:"Let's be clear: The Palestinians do not seek a state alongside Israel; they seek a state instead of Israel." But despite the condemnation from Israel, the move heaps pressure on France's allies such as the UK, and Sir Keir Starmer insisted tonight that he is "clear that statehood is the inalienable right of the Palestinian people". However, the prime minister has resisted calls from within his own party to recognise Palestine immediately, as he believes this should come after a ceasefire is agreed, as part of the peace process in Gaza. "A ceasefire will put us on a path to the recognition of a Palestinian state and a two-state solution which guarantees peace and security for Palestinians and Israelis," he said. Currently, half of the G20 recognise Palestine as a state, while nations including the UK, US, and Germany do not. But pressure has been growing on Sir Keir to change course, with senior Labour figures including the Mayor of London, Sir Sadiq Khan, publicly calling for a change in government policy. Starmer: 'We are witnessing a humanitarian catastrophe' Just hours before Mr Macron's announcement, Sir Keir said he would be holding an "emergency call" with the leaders of France and Germany over what he termed the "humanitarian catastrophe" happening in Gaza. In some of the firmest language from the government yet, Sir Keir said that "the suffering and starvation unfolding in Gaza is unspeakable and indefensible". He went on to say that it has been "grave for some time", but that it has now "reached new depths and continues to worsen". Sir Keir said: "I will hold an emergency call with E3 partners tomorrow, where we will discuss what we can do urgently to stop the killing and get people the food they desperately need while pulling together all the steps necessary to build a lasting peace." The PM added that "we all agree" on the need for Israel to "change course and allow aid that is desperately needed to enter Gaza without delay". He wrote: "It is hard to see a hopeful future in such dark times. But I must reiterate my call for all sides to engage in good faith, and at pace, to bring about an immediate ceasefire and for Hamas to unconditionally release all hostages." Mr Macron pressed for recognition of Palestinian statehood in a recent address to the UK's Parliament earlier this month, where he said it was the "only path to peace". Across the globe, more than 140 countries recognise Palestine as a state. This breaking news story is being updated and more details will be published shortly. Please refresh the page for the latest version. You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.
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Tractor Supply Q2 beat, Valero Energy falls, Spotify upgraded
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Canada's First Quantum to explore gold pre-payment deal from Zambian mines
By Divya Rajagopal TORONTO (Reuters) -Canadian miner First Quantum Minerals is exploring a gold pre-payment deal from its Zambian mines to boost its balance sheet, CFO Ryan MacWilliam told analysts on Thursday, as the company looks at new options to raise funds beyond a stake sale. The company was exploring a minority stake sale of its two Zambian mines last year. On Thursday, First Quantum said while the stake sale is not off the table, it will be exploring gold streaming deals from its Kansanshi mine in Zambia. "We have obviously seen record high gold prices, that means the gold pre-payment or streaming market is strong, it is obviously an active market, and that gives a variety of options from a financial perspective, in addition to those we have talked about before," MacWilliam said on an analyst call discussing the company's quarterly results. Gold streaming is a financing mechanism in which a buyer makes an up-front payment to a miner in exchange for purchasing future production from the miner, usually at a predetermined price. Shares of First Quantum were last trading up 1% on the Toronto Stock Exchange. The two mines in Zambia are crucial assets for First Quantum after the shutdown of its Cobre Panama copper mine in 2023 following a dispute with the Panamanian government. The company said it continues to have active discussions with Panamanian officials to bring about a resolution. Panama's top court ordered the closure of the mine after large public protests against it. After months of negotiations, Panama President Jose Mulino allowed the company to export copper concentrate from the mine in June, which was mined before the previous government ordered the shutdown. First Quantum said it is spending $15 million per month on the care and maintenance of the Cobre Panama mine, a figure that is expected to go up to $17 million to $18 million by the end of this year. According to RBC Capital Markets, the company ended the quarter with $745 million in cash and $6.2 billion in debt compared to $751 million in cash and $6.5 billion in debt at the end of the first quarter of 2025. (Divya Rajagopal in Toronto; Editing by Nia Williams)