Spotify, the leading audio streaming service, reported that revenue in Q2 increased 23% YoY to €2.3bn ($2.67bn), better than the €2.18bn estimated by analysts. Subscriber growth also beat expectations, with a net addition of 7 million premium subscribers, bringing the total user figure to 232 million, an increase of 30% YoY. However, the company's net loss increased from €394m a year ago to €418m. Spotify also announced its acquisition of SoundBetter, a platform which connects music creators and producers with professionals for hire.
French hospitality workers have demonstrated to highlight the harsh working conditions behind the glamorous façade of the Cannes Film Festival. Around two dozen protestors demonstrated outside the Carlton Hotel, which is just outside the ban on protests in the festival as it is private property. Many French workers frequently demonstrate against President Emmanuel Macron's controversial pension law, which raises the retirement age to 64. The workers demanded better pay and improved working conditions.
The G7 summit in the city of Hiroshima in Japan may feature debates on the Ukraine conflict, China’s economic power and the domination of Taiwan. Issues of global energy and economic security are also expected to be discussed. The presence of India, a country that is currently chairing G-20, is likely to bring a focus to global developing nations and the concerns of the so-called Global South. Significant Asia-Pacific nations including India, South Korea, Indonesia, Vietnam and Australia are participating alongside the seven member states of the G7 and the European Union. Gambia, Laos, Papua New Guinea, Senegal and Vietnam have been invited to send representatives to a meeting on tropical diseases.
Leaders of the G7 countries and their invited guests, India, Indonesia, South Korea, Vietnam and Australia, are meeting in Hiroshima over the next few days. The likely topics for discussion include the Ukraine conflict, growing Chinese dominance and the threat to Taiwan as well as issues surrounding supply chains and economic and energy security. The prominent attendance of India, a country that chairs the G20 this year, is highlighted as likely to shine a spotlight on the developing world. However, many have asked why the focus of the summit is background noise, rather than on the nuclear threat signaled by North Korea's recent nuclear tests and missile launches.
Leaders at the G7 summit in Japan have held talks focusing on the deepening dominance of China and political tensions on the Korean peninsula. The likely impact on the Japanese economy of the UK's Brexit decision is also a significant concern. Top of the agenda was the situation in the Ukraine and issues related to economic security and supply chains. India's attendance, as chair of the G20, has highlighted the importance of the developing world. Prime Minister Narendra Modi has made several contributions to the talks, arguing for inclusive food systems to be created across the world. At a separate meeting, involving the leaders of Japan and Brazil, mention was made of the need for security council reform. Meanwhile, US President Barack Obama became the first sitting US president to visit Hiroshima, where he laid a wreath at the Hiroshima Peace Memorial.
The Group of Seven (G7) summit held in Hiroshima this week has focused on the Ukraine crisis, as well as the growth of China and the associated rising threat to Taiwan. The discussions have incorporated a range of issues, including energy and economic security and supply chains. The attendance of nations such as India, Indonesia, Vietnam and Australia has ensured a focus on developing countries. Earlier this week, speaking at the summit, Indian Prime Minister Narendra Modi suggested that the creation of a system focused on food security, particularly for “marginal farmers” must be given priority, and suggested that there was a need to strengthen global “fertilizer supply chains” while curtailing “the expansionist mindset controlling fertilizer resources.” The summit has also covered artificial intelligence, nuclear weapons and non-proliferation, and climate change. It had been hoped that discussion of global health issues would also feature. The G7 comprises Canada, France, Germany, Italy, Japan, the UK and the US. The summit concludes today.
Ukrainian President Zelenskiy attended the G7 summit in Hiroshima and held bilateral meetings with world leaders, including France's President Macron, India's Prime Minister Modi, and Britain's Prime Minister Sunak. The leaders expressed their support for Ukraine's humanitarian needs and dialogue and diplomacy to find a way forward in the ongoing conflict with Russia. The G7 leaders are grappling with the challenges posed by Russia's invasion of Ukraine and tensions with China. The US has expressed support for joint allied training programs for Ukrainian pilots on F-16 fighter jets.
Leaders from the G7 countries will end their festivities in Hiroshima centred on Russia and managing China following Ukrainian President Volodymyr Zelensky's appearance. The western leaders used the forums to implement new sanctions against Russia while increasing cash flow to the Ukrainian military. The talk will transition to China as the most robust Asian ally of Russia, as the leaders implicitly remind President Xi Jinping that if he bullies them or changes the status quo in self-ruled Taiwan or the disputed South China Sea, China will experience the same resolve as Russia's attempt to redraw Ukraine's borders.
The G7 summit in Hiroshima has ended with discussions focusing on the Ukrainian war and the dominance of China. They also focused on challenges facing developing economies, including Brazil, Vietnam, Comoros and India. Ukrainian President, Volodymyr Zelenskyy made headlines during his time the summit. He was present in the session on Ukraine where it was revealed he had spoken with Canadian Prime Minister Justin Trudeau. His itinerary for the rest of the day included visiting the Peace Memorial Park and the museum in Hiroshima to remember the atomic bombing of the city. Zelenskyy continues to make the rounds of G-7 leaders. Earlier on the second day of the summit, India's Prime Minister Narendra Modi met the president on the margins of the summit for the first time since Russia's invasion of the Ukraine and shared images of their encounter to his Twitter page.
The final day of the Group of Seven (G7) summit has passed in Hiroshima, with delegates including Ukraine's President Volodomyr Zelenskyy discussing the war, China’s dominance and the issues faced by the Global South. Joining the leaders were a number of key Asia-Pacific figures such as the Indian, South Korean, Indonesian and Australian prime ministers. The triennial met throughout the summit, while Ukrainian President Volodymyr Zelenskyy took some time off to visit Hiroshima’s Peace Memorial Park and Museum. President Joe Biden met with Zelenskyy, Ukrainian Prime Minister Fumio Kishida, South Korean President Yoon Suk Yeol and Japanese Prime Minister for talks. The G7 laid out a common de-risking path on China, while India's Narendra Modi commented that he would “amplify concerns of the Global South” at the summit.
The phrase "de-risking" has become popular among officials trying to loosen China's grip on global supply chains, according to a New York Times report. “I think we derive a huge amount of economic, social and safety value when systems are interoperable,” said David Koh, Singapore’s cybersecurity commissioner. “I want my plane to take off from Singapore and land safely in Beijing,” he added. Germany and France later pressed for the term in international settings, while Singapore and India's foreign ministers have also used the phrase. The state-run Global Times, however, has said de-risking “might be ‘decoupling’ in disguise”.
The Ukraine conflict was at the forefront of G7 meetings in Hiroshima, Japan, over the weekend. Ukrainian President Volodymyr Zelenskyy was among the invitees to the meetings, which discussed China's growing dominance and issues affecting the so-called "Global South." Canadian Prime Minister Justin Trudeau expressed the need for a "resilient and diversified" approach to supply chains, while UK Prime Minister Rishi Sunak commented on the summit's significance for consolidating peace. Meanwhile, Japan's Prime Minister Fumio Kishida called for the issue of nuclear weapons to be discussed openly, and said it was "historically significant" for the G7 leaders visiting the Peace Memorial Museum to publish a focus on nuclear disarmament – known as the Hiroshima Vision. The G7 summit heralded a number of warm bilateral meetings, concluding with talks between Ukrainian President Volodymyr Zelenskyy and South Korean President Yoon Suk Yeol on the conflict on Sunday afternoon.
The Group of Seven (G7) summit in Japan has ended, with discussions centring around the Ukraine war, China’s growing dominance and support for the “Global South”. According to a communique, the G7 nations have agreed to support public-private initiatives to swerve China's “belt and road” initiative, to implement measures to counter state-backed “malicious cyber activities”, and to decarbonise energy systems by the end of the century. The G7 also signed a declaration committing to the protection of international maritime regulations, including the peaceful resolution of maritime disputes, navigation rights, and safety along sea lanes. G7 leaders expressed concern over the situation in the East and South China seas. The summit also saw the invitees from Indonesia, South Korea, India and Australia discuss issues such as Ebola, the impact of Brexit, terrorism and trade. President Zelenskyy of Ukraine was in the spotlight throughout the summit.
Protests against pension reforms in France have failed to affect activities surrounding the 72nd Cannes Film Festival. Although dozens of demonstrators assembled in Cannes to protest the reforms imposed by President Emmanuel Macron’s government, they did so on the Boulevard Carnot, far from the festival's central hub on the Palais des Festivals or Cannes’ seaside boulevard, Croisette. Local authorities instituted a ban on protests throughout many areas of Cannes before the summit. The move avoided any clashes which might have disrupted the celebration. The controversy comes amidst labor unrest in the Cannes, including a Hollywood screenwriters' strike.
Mongolia has agreed to supply France with critical metals required for the country's energy transition, according to President Emmanuel Macron. Speaking during the first visit to Ulaanbaatar by a French president, Macron said Mongolia's provision of the metals would "boost our energy sovereignty through the supply of critical metals from your country, which has this resource." Nearly 80% of Mongolia's exports go to China, but the country aims to become a bridge between Europe and Asia by building trade and mining relationships beyond Russia and China.
Federal prosecutors overseeing the investigation into Donald Trump’s handling of classified documents have subpoenaed information about the former president’s business dealings in foreign countries since he took office. The subpoena, which was sent to the Trump Organization, sought details on the company's real estate licensing and development dealings in Saudi Arabia, Kuwait, France, Oman, Turkey, China, and the United Arab Emirates. The demand for records related to Trump's foreign ventures since 2017 suggests that prosecutors are exploring whether there is any connection between the former president’s deal-making abroad and the classified documents he removed from the White House and has not returned.
Greek Prime Minister, Kyriakos Mitsotakis, defeated his left-wing rival Alexis Tsipras, signalling a clear electoral victory by 41% of the vote compared to around 20% for the Syriza party. The landmark victory also indicates that Mitsotakis may be able to move Greece away from the power of its far-left Syriza party, who brought the country near expulsion from the euro in 2015 and enacted an electoral law to prevent parties, such as Mitsotakis' New Democracy, from winning majorities. Mitsotakis said that he plans to call a new election on 25 June.
