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UK News Could the G7 summit in Cornwall help YOU build back better? Here's where to invest...

02:56  13 june  2021
02:56  13 june  2021 Source:   thisismoney.co.uk

When is the G7 Summit 2021? Date, what the meeting in Cornwall’s Carbis Bay is for and what to expect

  When is the G7 Summit 2021? Date, what the meeting in Cornwall’s Carbis Bay is for and what to expect The priorities of the summit, according to the G7 website, include spreading wealth to all nations through new technologies, international trading, green recovery and lasting jobs . Creating a better global health system ready for any future pandemics, and tackling climate change with a goal of moving to net zero and supporting other countries to do this too are among the issues likely to be discussed at the Summit. There have also been calls for leaders at the event to discuss distributing Covid-19 vaccines to the world’s poorest countries.

You can find more information in our data protection declaration. The Queen was joined by Prince Charles and Prince William at the reception held at Cornwall ' s Eden Project Germany ready to help donate vaccines. Niels Annen, minister of state at the German Foreign Ministry, told Johnson said the first in-person G 7 summit in nearly two years is a "huge opportunity" to kickstart global recovery from

Day one of the G - 7 summit has concluded, in Cornwall , England, where leaders of seven wealthy democracies aim to lead the global fight against the pandemic and to “ build back better ” toward a greener, more prosperous and equitable future. “America is rallying the world to make big multinational corporations pay their fair share so we can invest in our middle class at home,” Sullivan tweeted on Friday. The G - 7 has plenty of disagreements on trade, including long-running disputes over Airbus and Boeing subsidies, as well as steel and aluminum tariffs that then-President Trump

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As the pandemic reaches what we hope is its endgame, millions of us are keen to get out to the coast. This weekend it has been the turn of the leaders of the G7 countries – who have made the dash down to Cornwall.

Along with their pasties, they have been digesting policies including minimum corporate tax rates and the tricky winding down of coronavirus support schemes.

The G7 is as much symbolic as it is decisive. As Darius McDermott, managing director of Chelsea Financial Services, points out, the discussions have been 'fairly scripted and indications of intent rather than any specific legally binding agreement'.

Where is the G7 summit 2021? Why Cornwall’s Carbis Bay was chosen as location – and the road closures in place

  Where is the G7 summit 2021? Why Cornwall’s Carbis Bay was chosen as location – and the road closures in place The G7 summit will be held at the Carbis Bay Hotel, which prides itself in being recognised as one of Cornwall’s 'premier waterside hotels'Hosted this year by the UK, the gathering will take place from 11-13 June in the seaside resort of Carbis Bay in Cornwall.

Leaders have arrived in the UK for a three-day meeting where they are expected to discuss global pandemic recovery, including a commitment to share 1 billion vaccine doses with poorer countries. Follow DW for the latest. And we need to make sure that, as we recover, we level up across our societies and we rebuild back better ," Johnson told the G 7 leaders. Boris Johnson delivers an opening statement at the first formal G 7 session. Germany ready to help donate vaccines. Niels Annen, minister of state at the German Foreign Ministry, told DW that Germany is looking forward to working with the

Here ' s what to expect at the event. From CNN's Max Foster and Lauren Said-Moorhouse. Queen Elizabeth II attends a military ceremony at Windsor Castle in England on June 12. Chris Jackson/Getty Images. The second day of the G 7 summit is still underway, but attention is starting to turn to US President World leaders aired serious differences over how best to approach China during a session of the G 7 summit in Cornwall on Saturday, according to a senior Biden administration official. The disagreements, aired during a session that at one point became so sensitive that all internet was shut

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For investors, though, the meeting has offered clues about the direction of travel for global economies. The first major conference of world leaders since the pandemic hit has met under the banner Build Back Better – referring to everything from rebuilding economies post-pandemic through to environmental sustainability.

The themes covered by the summit could create plentiful opportunities for astute investors, especially in areas such as infrastructure and environmental funds.

WHAT IS THE G7 – AND WHAT DOES IT DO

The G7 is regarded as a steering group for Western economies. The decisions and discussions at this weekend's summit will act as a catalyst for measures taken at national level. Yet the summit can't pass any laws and excludes some hugely influential nations.

Navy patrols, beach-front radar and thousands of officers on duty as G7 leaders arrive

  Navy patrols, beach-front radar and thousands of officers on duty as G7 leaders arrive Cornwall will welcome some of the most powerful world leaders from tonight - with thousands of delegates, journalists and police in the county ahead of the G7 Summit. © PA HMS Tamar, a Batch 2 River-class offshore patrol vessel, patrols off the coast of Cornwall After months of preparation, prime minister Boris Johnson will play host to the leaders of France, Germany, Italy, Japan, Canada and the US at Carbis Bay in St Ives."This is the biggest security and policing event in England this year," Superintendent Joanne Hall from Devon and Cornwall Police told Sky News.

Here ’ s our reporter Colin Drury with a guide to the best of the protests… The government said the guest nations were invited to take part to help the G - 7 “intensify cooperation between the Boris Johnson has met UN secretary general Antonio Guterres at the G 7 Summit in Cornwall , where he

Why is the G 7 summit in Cornwall ? The UK holds the G 7 presidency for 2021 and announced in January that the meeting would take place at the Carbis Bay Hotel. It is not the first time the world leaders have met on the beach. The last G 7 summit in 2019 was held in the French seaside town of Biarritz. Day-to-day life for locals and tourists in Cornwall will be affected, including road and path closures. In some areas of nearby St Ives, residents will have to provide proof of address in order to access their homes.

Justin Trudeau of Canada; Emmanuel Macron of France; Angela Merkel of Germany; Mario Draghi of Italy; Yoshihide Suga of Japan; Joe Biden of the US; and Ursula von der Leyen of the European Union have all been present to represent their respective economies. But there has been a notable absence of leaders from Russia and China.

Russia is no longer in the G7 due to its invasion of the Crimea in 2014. China doesn't count as a sufficiently advanced economy to join due to its relatively low income per head – despite its recent rapid economic growth.

Alongside G7 members, guests from Australia, India (attending virtually), South Africa and South Korea have also been invited.

WHAT HAS BEEN ON THE MENU AT THE SUMMIT?

Along with Cornish seafood, cream teas and St Eval chocolate, there has been plenty for G7 world leaders to chew over.


Video: G7 leaders greeted by Boris Johnson for second day of summit in Cornwall (The Independent)

Allies hope to bond, look beyond virus at G-7 summit in UK

  Allies hope to bond, look beyond virus at G-7 summit in UK LONDON (AP) — There will be roundtable meetings, one-on-one chats and a group photo against a picturesque backdrop. When leaders of some of the world’s richest nations meet Friday at the English seaside for a three-day Group of Seven summit, much of the choreography will be familiar. But the world has changed dramatically. Since the G-7 last met two years ago, the coronavirus pandemic has killed more than 3.7 million people and decimated economies with lockdowns and layoffs. A planned G-7 meeting in the United States last year was postponed, then canceled.So when British Prime Minister Boris Johnson welcomes U.S.

Boris Johnson has urged fellow world leaders to " build back better " after the Covid pandemic at this week' s G 7 summit in Cornwall . The UK prime minister said it was vital to learn from the "mistakes" of the 2008 financial crisis and tackle the "scar" of inequality. After a day of talks at the seaside resort of Carbis Bay, leaders have joined the Queen for a dinner nearby. The distribution of Covid vaccines is also high on the summit agenda. Earlier, the leaders posed for a group photo with the Queen, where the monarch was heard to joke: "Are you supposed to be looking as if you 're enjoying yourself?"

FANS of the BBC’ s Cornwall : This Fishing Life will know that mostly, it features disgruntled locals moaning about The G 7 summit is pumping even more money into the local Cornish economyCredit: EPA. I see, so what we are saying here is that the leader of the free world should be forced to arrive in And I couldn’t help thinking how much better the BBC would be if, just for once, it could drop its

One major theme has been a sweeping reform of the world tax system, with G7 finance ministers backing a global minimum tax of at least 15 per cent on profits made by multinational companies.

Keith Bowman, equity analyst at wealth manager Interactive Investor, says that the tax move has been driven by the ability of multinationals – particularly tech giants – to move their home tax residency to minimise their bills. 'This has now forced governments to collaborate on tax rates,' he adds.

Andrew Bell, who runs stock market-listed Witan Investment Trust, says the tax decision represents 'a positive step'. He says: 'Nobody wants taxes to stifle innovation or weigh on economic recovery, but ultimately popular spending plans have to be paid for. A sense of fairness is vital for popular acceptance of tax levels and the spending tradeoffs governments have to make.'

Winding down coronavirus support schemes without stifling economic recovery has been another major theme. Janet Yellen, US Treasury Secretary, set the tone, suggesting that countries should keep spending – not just maintaining coronavirus support schemes for businesses, but by following the US lead in sustaining massive economic stimulus policies.

Boris Johnson mocked for wearing US-style matching bomber jackets

  Boris Johnson mocked for wearing US-style matching bomber jackets Social media users were quick to question why Mr Johnson appeared to be 'sponsored by Virgin' as he made a trip to the company's LauncherOne, at the Spaceport in Newquay, Cornwall.Social media users were quick to question why Mr Johnson appeared to be 'sponsored by Virgin' as he made a trip to the company's rocket, LauncherOne, at the Spaceport at Newquay Airport, Cornwall, yesterday.

Kevin Doran, chief investment officer at investment platform AJ Bell, says that any such government spending will have to be paid for eventually. He explains: 'The most significant concern ought to be just who will finance this largesse, especially when consumers are released back into the wild again and household savings return to more normal levels. Longer term, the determination to deliver 'new deals' and promises of new jobs may come at a cost.'

Tax and economic stimulus represented substantial G7 starters. But the main course for the G7 was all about environmental commitments. In his inaugural speech Boris Johnson – despite arriving at Carbis Bay by private jet – linked the climate agenda to economic growth and stimulus, stating that G7 members 'are united in our vision for a cleaner, greener world'.

He said a green technological revolution has 'the potential to generate many, many millions of high-wage, high-skill jobs'.

The spotlight is now on further tax incentives for green businesses, as well as tighter reporting requirements for companies on their sustainability criteria.

Jason Hollands, a director of wealth manager Tilney, says: 'The focus on reducing carbon emissions is already permeating economic policies, such as those aimed at increasing the use of renewable energy and the phasing out of petrol and diesel vehicles.'

World leaders touch down in Cornwall for the crucial G7 Summit

  World leaders touch down in Cornwall for the crucial G7 Summit Canada's Prime Minister Justin Trudeau arrived at Cornwall Airport in Newquay wearing a face mask yesterday and waved from the exit of his jet.Canada's Prime Minister Justin Trudeau arrived at Cornwall Airport in Newquay wearing a face mask yesterday and waved from the exit of his jet beside his country's coat of arms and maple leaf flag.

Finally, the equitable distribution of Covid-19 vaccines has been a fraught topic, as countries race to vaccinate their own populations. The G7 is pledging a billion vaccine doses for poorer nations.

Nalaka De Silva and Jennifer Mernagh are joint managers of investment trust Aberdeen Diversified Income and Growth. They warn that without vaccine programmes in place worldwide, many emerging market nations will struggle to recover. 'A global vaccination drive is critical to tackling inequality,' says De Silva. 'It will ensure that countries get widespread access to vaccinations so that they can also benefit from any upswing in global growth.'

HOW INVESTORS CAN BENEFIT FROM THE G7

The themes discussed on a global stage may seem broad, but they will impact on the performance of individual companies. Hollands says: 'Investors should see G7 as a reminder of the international drive towards environmental sustainability, the focus on infrastructure investment as economies are rebuilt, and an emphasis on increased international coordination. All with the US at the steering wheel.'

For investors hoping to benefit from the push towards environmental sustainability, Hollands suggests that investors look at funds such as Impax Environmental Markets. This fund invests globally in companies that provide environmental solutions, including clean energy, energy efficiency, natural resource management and sustainable agriculture.

Meanwhile, investment funds with a focus on infrastructure could benefit from the objective to 'build back better'. Hollands likes Renewable Infrastructure Group, an investment company listed on the London Stock Exchange with a portfolio of more than 75 renewable infrastructure projects – solar and wind farm based – in the UK, France, Germany, Sweden and Ireland. Chelsea's Darius McDermott says that broader infrastructure funds could also do well, suggesting M&G Global Infrastructure and Gravis Infrastructure Income. The Gravis fund provides shareholders with an income equivalent to five per cent a year. It invests in a portfolio of listed infrastructure groups including those related to renewable energy as well as healthcare.

Are you supposed to be enjoying yourselves? Queen Elizabeth asks G7

  Are you supposed to be enjoying yourselves? Queen Elizabeth asks G7 UK-G7-SUMMMIT-ROYALS-QUEEN:Are you supposed to be enjoying yourselves? Queen Elizabeth asks G7ST BLAZEY, England (Reuters) -Britain's Queen Elizabeth met U.S. President Joe Biden under the canopy of the world's largest indoor rainforest on Friday as she hosted a reception for leaders of the Group of Seven richest nations, who are holding a three-day summit.

McDermott also suggests that progress on the Northern Ireland protocol could spell good news for UK investors. 'The UK stock market still has a Brexit discount on it,' he says, 'so a breakthrough on this issue would lead to an increase in market confidence.'

Mood music over Northern Ireland has been mixed, with Johnson insisting 'complete harmony' with Biden on the issue, but a no compromise stance has been taken by Macron. Johnson said there was an 'indestructible' relationship between the UK and US.

Investment funds well positioned to benefit, says McDermott, include Man GLG Income and Twenty Four Dynamic Bond.

FUNDS TO COUNTER GLOBAL TENSIONS

The appearance of US President Joe Biden at the G7 table marked a radical departure from the obstinate stance of his predecessor – and may usher in a new era for global economic co-operation.

Andrew Bell, at investment trust Witan, says that we should now expect to see the US reengaging with a 'multi-lateral approach to problem solving' after the 'megaphone diplomacy' of recent years.

'The world faces problems that stretch across borders, as well as a growth in authoritarianism,' he says. 'Realism, engagement and politeness are ingredients in helping to craft solutions and keep the peace.'

But this doesn't mean an end to global tension, which could destabilise the future value of financial assets – tension caused either by an aggressive China reconfirming its intent to control the South China Sea, or Russia prodding away on Europe's eastern border and testing Ukraine's patience.

For those considering protecting their assets from any such destabilisation in the future, Chelsea's Darius McDermott suggests that they look at investing part of their portfolio in targeted absolute return funds. These aim to deliver positive investment returns in all kinds of markets.

The best of these funds, says McDermott, include BlackRock UK Absolute Alpha, Church House Tenax Absolute Return Strategies and Janus Henderson Absolute Return.

As summit ends, G-7 urged to deliver on vaccines, climate .
FALMOUTH, England (AP) — The Group of Seven leaders aim to end their first summit in two years with a punchy set of promises Sunday, including vaccinating the world against coronavirus, making huge corporations pay their fair share of taxes and tackling climate change with a blend of technology and money. They want to show that international cooperation is back after the upheavals caused both by the pandemic and the unpredictability of former U.S. President Donald Trump.

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