Australia news live: Albanese to meet Carney ahead of Canada G7 summit overshadowed by Middle East crisis
Update:
Date: 2025-06-15T21:22:13.000Z
Title: Welcome
Content: Good morning and happy Monday. Nick Visser here to take you through the day's news. Here's what's on deck:
The prime minister, Anthony Albanese, will meet his Canadian counterpart, Mark Carney, in Calgary this morning. World leaders are set to gather for the G7 summit this week, where the growing conflict between Israel and Iran will be top of mind. Albanese and Carney met informally at the pope's inauguration in Rome, but will speak more about defence, climate change and critical minerals, as well as the conflicts in the Middle East.
Sydney's new airport is set to get an $835m boost in funding under the NSW budget to be delivered later this month. The funding injection should help develop the massive industrial and housing zone around the Western Sydney airport, which is set to open in 2026.
Oscar Piastri finished in fourth place at the Canadian Grand Prix in Montreal despite a crash with McLaren teammate Lando Norris, who took responsibility for the collision. Piastri maintains his lead in the drivers' championship.
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Western Telegraph
12 minutes ago
- Western Telegraph
Starmer: G7 will discuss Russia sanctions if Putin holds out on ceasefire talks
The Prime Minister said targeting Moscow with further action would 'undoubtedly' form part of talks at the international summit this week if the Kremlin continues to resist calls for an unconditional ceasefire. Ukrainian President Volodymyr Zelensky is expected to attend the conference in Canada, where leaders from the world's major economies are descending on a luxury mountain lodge in the Rockies for talks on global security. Mr Zelensky has accepted a US-backed ceasefire proposal and offered to talk directly with his counterpart in Moscow, but the Russian leader has so far shown no willingness to meet him. On to the G7. In an era of global instability, I will do everything in my power to deliver safety and security for working people in Britain. — Keir Starmer (@Keir_Starmer) June 15, 2025 Speaking to reporters travelling with him to Kananaskis, Sir Keir was asked if he expects additional sanctions on Russia to be agreed by international partners. 'We've got president Zelensky coming, so that provides a good opportunity for us to discuss again as a group,' he said. 'My long-standing view is, we need to get Russia to the table for an unconditional ceasefire. 'That's not been really straightforward. But we do need to be clear about we need to get to the table and that if that doesn't happen, sanctions will undoubtedly be part of the discussion at the G7.' Sir Keir faces a busy week of diplomacy with spiralling conflict in the Middle East and the war in Ukraine top of the agenda in the talks between leaders from Canada, the US, France, Italy, Japan, Germany and Britain. It comes as the Foreign Office advised against all travel to Israel following further retaliatory attacks by Iran. Downing Street has not ruled out moving to evacuate UK nationals from the country if the situation deteriorates further. US President Donald Trump arrives at the G7 Summit in Kananaskis (Adrian Wyld/The Canadian Press via AP) Sir Keir is also likely to have bilateral meetings with Donald Trump as well as Emmanuel Macron, with whom he has been making plans for a so-called 'coalition of the willing' to send peacekeeping forces to Kyiv. The Prime Minister told reporters he had a 'good relationship' with the US president, which is 'important' at a time of heightened global instability. 'I've been saying, for probably the best part of six months now, we're in a new era of defence and security, a new era for trade and the economy,' he said. 'And I think it's really important for Britain to play a leading part in that, and that's what I'll be doing at the G7, talking to all of our partners in a constructive way. 'And I'm very pleased that I have developed good relations with all the G7 leaders to the point where… I have a very good relations with all of them.' Meanwhile, Mr Trump said he had told his Russian counterpart that the war in Ukraine 'should end' in a phone conversation on Saturday. In a post on his Truth Social platform, the US leader said: '(President Putin) feels, as do I, this war in Israel-Iran should end, to which I explained, his war should also end.'
Reuters
22 minutes ago
- Reuters
Morning Bid: Markets in wait-and-see mode on Mideast
A look at the day ahead in European and global markets from Wayne Cole. While Israel and Iran continue to exchange missiles, markets have been resilient so far on Monday with most Asian indexes in the black. Chinese retail sales topped forecasts, but to no discernible reaction. Oil jumped 4% at the open, but soon calmed down and is now up around 1%. Given the region's history, war in the Middle East is not surprising and, so far, this one does not look like spreading wider. Crucially, investors seem to be assuming Iran will not threaten to close the Strait of Hormuz since that would risk dragging the United States into the conflict. There's also plenty of scope for Saudi Arabia and the rest of OPEC to expand supply if needed to keep prices restrained. The escalation is certainly an unwanted headache for the G7 meeting in Canada, which faces more than enough confrontation ahead over President Trump's tariffs on allies. There has been little sign of concrete progress on any trade deals, and even last week's U.S.-China tariff truce might not have fixed the restrictions on minerals most closely tied to national security. The spike in oil will be an added complication for the Federal Reserve meeting this week, but it would have to be a sustained rise in prices to be a true inflationary threat. A steady outcome on rates is considered a done deal with the real focus on whether the Fed's dot plots keep two cuts for this year, or scale back to just one as some suspect. It's a busy week for central banks in general, with the Bank of Japan expected to stand pat on Tuesday but maybe signal a slowdown in its bond tapering for next year. The Bank of England and Norges Bank are also seen holding steady, while the Riksbank is likely to cut. Markets are fully priced for a quarter point easing to zero from the Swiss National Bank, with a good chance of going negative given the strength of the franc. Key developments that could influence markets on Monday: - Appearances by ECB members Joachim Nagel and Piero Cipollone
Reuters
an hour ago
- Reuters
Not the time to mess with EU-US trade, EU's Costa says
KANANASKIS, Alberta, June 15, Reuters) - Europe and the United States should focus on how the bloc takes more responsibility for its defence rather than creating economic uncertainty through trade tensions, European Union President Antonio Costa said on Sunday. Speaking to reporters with European Commission President Ursula von der Leyen ahead of a gathering of G7 leaders in the Canadian Rockies, Costa said the two days of meetings provide an opportunity to talk about "some problems" between the allies and friends. "The main issue between Europe and the United States is precisely about European defence, and we should focus on (this)," Costa said, referring to Washington's rebalancing of foreign policy towards countering China. "Because this is the main issue we should avoid introducing other issues that undermine our economic capacity to assume greater responsibility on our own defence." U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Trump's haphazard imposition of tariffs across the world has created uncertainty among key U.S. allies, and raised pressure on the global economy. Speaking alongside Costa, von der Leyen said the trade talks with Washington were now focussing on the details, but there was no guarantee of a deal. "That's why this is not the right moment to create uncertainty on economics. It is not the right moment to create problems on trade, because we need to strengthen our economic basis," Costa said. "We are talking about the most relevant trade relations in the world, then we need to protect this and focus on what is the most important which is to have a good agreement between the EU and the United States about the burden sharing on defence." Underscoring Costa's comments, von der Leyen said the G7 had to avoid protectionism. "This is an important message. A message that the G7 can send to the markets and to the world," she said.
