Latest news with #G7Leaders'Summit
Yahoo
17 hours ago
- Business
- Yahoo
Top EU official says ‘Trump is right' that China is a ‘serious problem' that threatens us all — here's why
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. European Commission President Ursula von der Leyen hasn't shied away from criticizing U.S. President Donald Trump — especially when it comes to his sweeping tariffs. But lately, the two have aligned on a shared concern: China. 'When we focus our attention on tariffs between partners, it diverts our energy from the real challenge — one that threatens us all,' von der Leyen said during the 'Global economic outlook' roundtable at the G7 Leaders' Summit in Kananaskis, Alberta. 'On this point, Donald is right — there is a serious problem,' she admitted. 'The biggest collective problem we have has its origins in the accession of China to the WTO in 2001 … China has largely shown ... unwillingness to live within the constraints of the rules based international system.' Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 4 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how In particular, von der Leyen accused China of 'undercutting intellectual property protections' and providing 'massive subsidies with the aim to dominate global manufacturing and supply chains.' She said China's actions don't reflect fair market competition, but instead represent 'distortion with intent,' which she warned undermines the manufacturing sectors of its trading partners. In her statement, von der Leyen urged G7 nations to confront the issue together, noting that the bloc represents 45% of global GDP and more than 80% of global intellectual property revenues — leverage that could be used to pressure China. The European Commission chief also revealed she is 'working closely' with Trump on a mutually beneficial trade agreement. Her remarks echo Trump's long-standing warnings about China — and add momentum to the broader push among Western nations to rethink their economic ties. For investors, it could be a wake-up call: When global power shifts, it pays to have something solid in your corner. With global tensions rising and major economies reassessing their trade ties, investors are turning to assets that can hold up in turbulent times. One that continues to stand out, according to legendary hedge fund manager Ray Dalio, is gold. 'People don't have, typically, an adequate amount of gold in their portfolio,' Dalio told CNBC earlier this year. 'When bad times come, gold is a very effective diversifier.' Long seen as the ultimate safe haven, gold isn't tied to any single country, currency or economy. It can't be printed out of thin air like fiat money, and in times of economic turmoil or geopolitical uncertainty, investors tend to pile in — driving up its value. Over the past 12 months, gold prices have surged more than 40%. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Goldco. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those seeking to ensure their retirement funds are well-shielded against economic uncertainties. Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver. If you're curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today. Read more: This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. If gold is the common go-to hedge for moments of chaos, real estate is the long game — and no one knows that better than Trump himself. Before politics, Trump made his fortune in real estate — and the asset class remains a powerful tool for building and preserving wealth, especially during inflationary times. That's because property values and rental income tend to rise along with the cost of living. Unlike some other investments, real estate doesn't need a roaring stock market to deliver returns. Even during downturns, high-quality properties can generate rental income — offering a dependable stream of passive cash flow. As Trump told Steve Forbes back in 2011, 'I just notice that when you have that right piece of property, whatever it might be, including location, it tends to work well in good times and in bad times.' Today, you don't need to buy a property outright to benefit from real estate investing. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving any positive rental income distributions from your investment. Another option is Homeshares, which gives accredited investors access to the $35 trillion U.S. home equity market — a space that's historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs Elon Musk just endorsed Warren Buffett's '5-minute' fix for America's multi-trillion debt problem — and 1 Senator is drafting a constitutional change to make it real. Do you think it'll work? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here's how much the average 60-year-old American has in retirement savings — and 5 critical ways you can secure your nest egg Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Cision Canada
3 days ago
- Business
- Cision Canada
Canada joins new NATO Defence Investment Pledge Français
THE HAGUE, the Netherlands, June 25, 2025 /CNW/ - The world is increasingly dangerous and divided, with the rules-based international system under unprecedented pressure and global conflict becoming more frequent and volatile. To meet this moment, Canada and its Allies are building their defence capabilities to strengthen our collective security. Today, the Prime Minister, Mark Carney, announced that Canada and its North Atlantic Treaty Organization (NATO) Allies have agreed to a new Defence Investment Pledge of investing 5 per cent of annual GDP by 2035 to ensure our individual and collective security. The commitment aligns with Canada's own strategic defence and security goals. As part of this 5 per cent pledge, Canada will invest 3.5 per cent of GDP for core military capabilities, expanding on our recent investments. That means further investments in our Canadian Armed Forces, modernizing our military equipment and technology, building up Canada's defence industries, and diversifying our defence partnerships. An additional 1.5 per cent of GDP will be dedicated to investments in critical defence and security-related expenditure, such as new airports, ports, telecommunication, emergency preparedness systems, and other dual-use investments which serve defence as well as civilian readiness. Importantly, the progress of this pledge will be reviewed in 2029 to ensure Allies' expenditures align with the global security landscape. At the Summit, Canada and its Allies reaffirmed their support for Ukraine and the leaders agreed on the imperative for a just and lasting peace. Canada's contributions to Ukraine's defence and its defence industries, including Canada's $2 billion in military assistance announced last week at the 2025 G7 Leaders' Summit in Kananaskis, Alberta, are included in our NATO contributions, as the security of Ukraine is critical to our collective security. Quotes "The world is increasingly dangerous and divided. Canada must strengthen our defence to better protect our sovereignty, our interests, and our Allies. These investments won't just build our military capacity – they will build our industries and create good, high-paying jobs at home. If we want a more secure world, we need a stronger Canada." — The Rt. Hon. Mark Carney, Prime Minister of Canada "Canada is a proud founding member of the Alliance. In an increasingly unstable and unpredictable world, we are making the critical investments needed to keep Canadians safe, support our Armed Forces, and strengthen our role in Europe and on the world stage. The renewed Defence Investment Pledge to invest 5 per cent of GDP by 2035 reaffirms Canada's strong commitment to our security, to our sovereignty, and to NATO." — The Hon. , Minister of National Defence The Hague Summit Declaration Canada and the North Atlantic Treaty Organization This document is also available at
Straits Times
4 days ago
- Politics
- Straits Times
Australian PM's ‘lame silence' on Iran bombing points to wariness about optics of Trump ties
Australian PM Anthony Albanese speaks to the media during a press conference after attending the G7 Leaders' Summit on June 17. PHOTO: EPA-EFE – US President Donald Trump's surprise decision to bomb Iran's nuclear facilities on June 22 prompted an unusual silence this week from the leader of one of America's closest allies, Australian Prime Minister Anthony Albanese. As the local media clamoured for a response to the bombing and critics warned that silence from Canberra could damage ties with Washington, Mr Albanese took 24 hours to finally issue a formal statement in which he endorsed the strike and called for 'dialogue and diplomacy'. His 'lame silence' – as an editorial in The Sydney Morning Herald on June 24 described it – was viewed as a lukewarm endorsement of Mr Trump's strike, particularly from a country that proudly claims to have fought alongside the US in every major conflict since World War I. Yet, just a day after Mr Albanese's statement, Mr Trump's announcement of a ceasefire on June 24 prompted a much quicker reaction. Within hours, Mr Albanese released a statement welcoming the ceasefire and calling for regional peace. 'We have consistently called for dialogue, diplomacy and de-escalation,' he said. The Prime Minister insisted that his delayed response to the US strikes was not 'slow' or 'flat-footed', saying that Australia was not a central player in the conflict. 'What my government does is act in an orderly, coherent way,' he told Sky News on June 24. 'And we were very clear for some period of time that Iran could not be allowed to have a nuclear weapon.' But Mr Albanese's delayed comments appeared to reflect a serious dilemma he faced in response to the US intervention. On the one hand, Mr Albanese was keen to avoid damaging the alliance with the US, which could cause a domestic political backlash and could undermine his effort to acquire American nuclear-powered submarines as part of the three-way Aukus pact between the two countries and the United Kingdom. But Mr Albanese is also wary of being seen to be grovelling to Mr Trump, who is unpopular in Australia, and is mindful that Australia – unlike Mr Trump – is staunchly committed to the international rules-based order. Plus, there is the ever present need to consider Australia's ties with its closest trading partner, China, and other regional neighbours that do not share Canberra's warm ties with Washington. Dr Ben Zala, a senior lecturer in international relations at Monash University, told The Straits Times that he believed the government's delay occurred because 'they actually did feel the need to think carefully about it'. 'It is potentially a sign of concern about the implications of Australia just joining the US on any foreign policy decision that it makes,' he said. 'In the past, the response would have been, how quickly and in what way do we support what the US is doing... It is harder to unquestioningly support the US now, when US power is contested (by China), and there is also the Trump factor.' The Trump administration's contempt for the international rules-based order, Dr Zala said, had led to 'a nervousness about what happens if we are all the way with the USA'. Mr Albanese's somewhat tepid response to the US intervention in Iran also added to perceptions of potential friction in his ties with the Trump administration. The two leaders have not yet met, and their planned meeting in mid-June, on the sidelines of a Group of Seven leaders' summit in Canada, was cancelled after Mr Trump returned to Washington to deal with the conflict in the Middle East. Mr Albanese is under pressure to meet with the US President to push for Australia to be exempted from US trade sanctions and for some clarity on the Aukus nuclear-powered submarine deal, which the Trump administration is currently reviewing. The US also expects Canberra to raise its defence spending to about 3.5 per cent of its GDP, from about 2 per cent currently. Opinion polls in Australia show there is strong support for its alliance with the US, but that Australians tend to oppose providing troops to fight in distant US-led wars such as those in Iraq and Afghanistan. A Lowy Institute poll released on June 15 found that 67 per cent of Australians support acquiring nuclear-powered submarines and 32 per cent are opposed, and that 80 per cent believe the US alliance is important for Australia's security. But just 25 per cent of Australians trust Mr Trump to do the right thing regarding world affairs, compared with 72 per cent who do not, and 3 per cent who are uncommitted. Professor Nick Bisley, an expert on Australian foreign policy from La Trobe University, told The Straits Times that Mr Albanese's handling of the US intervention in Iran was 'understandably cautious'. He said the government's 'keep your head down' approach also reflected his determination to keep Australia's foreign policy focus on the region, particularly on bolstering ties across South-east Asia and the South Pacific. 'The Middle East is not part of Australia's core interests,' he said. 'The government didn't want to be jumping on the grandstand cheering on a high risk proposition that could tip things in the Middle East in a dangerous way. The balance they struck is understandable.' Prof Bisley said Mr Albanese faced the difficult task of sending a message of restrained endorsement for the US actions in Iran without risking the wrath of Mr Trump and his acolytes. 'When you're dealing with the Trump folk, you only want to attract attention if you have to,' he said. Jonathan Pearlman writes about Australia and the Pacific for The Straits Times. Based in Sydney, he explains matters on Australia and the Pacific to readers outside the Oceania region. Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
4 days ago
- Business
- Straits Times
Labour lawmakers threaten UK PM Starmer with revolt over welfare reforms
FILE PHOTO: British Prime Minister Keir Starmer arrives for G7, Ukraine and NATO Working Breakfast Session V, during the G7 Leaders' Summit in Kananaskis, in Alberta, Canada, June 17, 2025. REUTERS/Suzanne Plunkett/Pool/ File Photo LONDON - More than 100 British Labour lawmakers have supported a move to try to block Prime Minister Keir Starmer's government from changing the welfare system, saying the package does not provide for disabled people and those with long-term health conditions. In what could be a major blow to Starmer a year after he came to power with a large majority in parliament, Labour lawmakers have spearheaded a plan to kill the government's welfare bill at a vote due next week. Due to a ballooning welfare system, Labour had in March said it planned to cut more than five billion pounds ($6.48 billion) from its welfare budget by 2029/30. The lawmakers, including the heads of select committees which probe government policy, have tabled a "reasoned amendment," used to express opposition to a proposed law. If that amendment is selected by parliament's speaker and then passed in next week's vote, it would halt the proposed law. Starmer has said welfare reform is essential to protect benefits for those who need them and get more people back into work. The welfare bill had been on course to top 100 billion pounds ($129 billion) by 2030, partly as Britain has one of the highest reported rates of working-age people out of work due to ill health among European peers. The government has argued that its proposed welfare budget cuts by 2029/30 would be backed by support for people using benefits to get back into work. Even though ministers have tried to soften the impact of changes to the sickness-related part of Universal Credit benefits and to the Personal Independence Payment (PIP), designed to cover disability-related costs, dozens of lawmakers are still opposed. In their amendment, the Labour lawmakers declined to support the progress of the Universal Credit and Personal Independence Payment Bill. They said the bill contained "dangerous and counterproductive cuts to entitlements aimed at disabled people" and lacked "measures to take proper account of the needs of people with ... long-term conditions." One Labour lawmaker who supports the government said the amendment was "very awkward" but that ministers might yet try to contain the scale of the potential rebellion. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Canada News.Net
4 days ago
- Business
- Canada News.Net
UAE President, Canadian Prime Minister hold phone call to discuss bilateral ties, topics of mutual interest
ABU DHABI, 12th June, 2025 (WAM) -- President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Mark Carney, Prime Minister of Canada, held a phone call today to discuss bilateral cooperation and ways to further strengthen collaboration in support of both countries' shared interests. During the call, the two sides also exchanged views on a number of regional and international issues of mutual interest. The call touched on the upcoming G7 Leaders' Summit, to be hosted by Canada from 15th to 17th June. They highlighted the importance of international collaboration in advancing global economic stability and addressing shared challenges, particularly in the areas of energy security and advanced technology. His Highness thanked Prime Minister Carney for the invitation to attend the G7 Summit, expressing appreciation for the opportunity for the UAE to contribute to discussions on key global issues.
