Alberta on high alert for wildfire upsurge over scorching holiday weekend

By Ismail Shakil OTTAWA (Reuters) – Firefighters in Alberta are on high alert for a surge in blazes over a long weekend in the oil-rich Canadian province, which is enduring throttled energy production, home evacuations and property damage after an intense start to the wildfire season. Record-high temperatures and lack of rain this year have…

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G7 tightens Russia sanctions, looks to cut China trade reliance

By Katya Golubkova and John Irish HIROSHIMA, Japan (Reuters) -Leaders of the world’s richest democracies acted on Friday to stiffen sanctions against Russia, while a draft communique to be issued after their talks in the Japanese city of Hiroshima stressed the need to reduce reliance on trade with China. The Group of Seven (G7) leaders,…

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Factbox-Excerpts from G7 leaders’ statement on economic coercion

(Reuters) – Leaders of the Group of Seven (G7) agreed on Saturday to establish an initiative to counter economic “coercion”, pledging to take steps to ensure that any actors attempting to “weaponise” economic dependence would fail and face consequences. The initiative, dubbed Coordination Platform on Economic Coercion, will use early warning and rapid information sharing…

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G7 leaders agree to new initiative to fight economic coercion

TOKYO (Reuters) – Group of Seven leaders on Saturday agreed to a new initiative to counter economic coercion, and pledged action to ensure that any actors attempting to weaponise economic dependence would fail and face consequences. The initiative, dubbed Coordination Platform on Economic Coercion, will use early warning and rapid information sharing on economic coercion…

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Wildfire risk spurs Alberta park closures ahead of holiday weekend

By Ismail Shakil OTTAWA (Reuters) -Authorities in Canada’s main oil-producing province of Alberta have closed some parks and campgrounds, and are urging residents to avoid activities that could enrage wildfires to avoid straining firefighting resources over the holiday weekend. Traditionally, residents spend the Victoria Day long weekend outside as families take advantage of the warmer…

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US dollar skids as Fed’s Powell hints at June pause, debt talks stall

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Friday after Federal Reserve Chair Jerome Powell struck a moderately dovish stance, contrary to market expectations, saying that given how credit conditions have tightened, the U.S. central bank may not need to raise interest rates as much. A pause in negotiations to raise the…

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Factbox-Key excerpts from G7 leaders’ statement on Ukraine

HIROSHIMA, Japan (Reuters) – Leaders of the world richest democracies agreed on Friday to stiffen sanctions against Russia and pledged financial support for Ukraine in its fight against Russia’s invasion. Below are key extracts from the Group of Seven leaders’ statement. NEW SANCTIONS “we will broaden our actions to ensure that exports of all items…

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G7 leaders’ statement: Ukraine has budget support for 2023 and early 2024

HIROSHIMA, Japan (Reuters) – Group of Seven (G7) leaders on Friday said they had ensured that Ukraine had the budget support it needs for this year and early 2024 as they renewed their commitment to provide financial and military support in its fight against Russia. “Today we are taking new steps to ensure that Russia’s…

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