At the Mellach coal power plant in southern Austria, spider webs have taken over the conveyor belts, and plants and flowers have sprung up around the vast lot that once stored coal.

The Group of Seven rich democracies will commit up to $5 billion to improve global food security, a senior US official said, as the group responds to worries in developing nations about the threat of hunger triggered by war in Ukraine.

Russia said Monday that two of its debt payments were blocked from reaching creditors, pushing the country closer to its first foreign default in a century due to sanctions over the Ukraine offensive.

India’s electricity shortages have eased over the last six weeks as renewables generation has increased seasonally and relieved some of the pressure on coal-fired units short of fuel.

It only took 24 hours last month for Prime Minister Narendra Modi’s government in India - the world’s second-largest producer of wheat - to shelve its plans to “feed the world”.

Google was hit with an antitrust complaint on Monday after a Danish online job-search rival took its grievance to EU regulators, alleging the Alphabet unit had unfairly favoured its own job search service.

Profits at China’s industrial firms shrank at a slower pace in May following a sharp fall in April, as activity in major manufacturing hubs resumed, but Covid-19 restrictions still weighed on factory production and squeezed factory margins.

France is working on energy contingency plans because of cuts to gas flows from Russia which have hit the European market but it has not yet had to put them into action, Finance Minister Bruno Le Maire said on Monday.

Britain is mulling action to protect its ailing steel industry that could set it on collision course with the World Trade Organisation (WTO), Prime Minister Boris Johnson said Sunday.

India and the European Union resumed talks Monday on a free-trade deal after a nine-year gap, as Western countries seek to wean New Delhi off its close economic ties to Russia.

Central banks must not let inflation become entrenched, with the threat of stagflation looming over the global economy, the Bank for International Settlements warned Sunday in its annual economic report.

World Bank Group President David Malpass thinks it might take years to get prices back under control as the US and other economies face inflation rates not seen in decades.

Consumers should start cutting back on their energy use immediately, the bosses of France’s three big energy companies urged Sunday, warning of social tensions next winter unless reserves are replenished.

India will introduce a safety rating system for passenger cars - a measure it hopes will encourage manufacturers to provide advanced safety features and will boost the “export worthiness” of vehicles produced in the country.

Almost a month since Shanghai lifted its strict Covid-19 lockdowns, fashion retailers are stuck with piles of unsold stock as cautious consumers stay away from the commercial hub’s glitzy shopping districts.

China’s central bank said on Saturday it had signed an agreement with the Bank for International Settlements to establish a Renminbi Liquidity Arrangement (RMBLA) that will provide support to participating central banks in times of market fluctuations.

Oil prices settled up by more than $3 a barrel on Friday, supported by tight supply, but they notched their second weekly decline on concern that rising interest rates could push the world economy into recession.

India’s central bank is on course to bring down prices but the retail inflation rate is likely to remain above the top end of its mandated target band until December, Governor Shaktikanta Das said in an article in the Times of India on Friday.

Leaders of the Group of Seven rich democracies are having “very constructive” discussions on a possible cap on Russian oil imports, a German government official said on Saturday shortly before the start of the annual three-day G7 summit.

Air traffic is booming this summer, but after European vacations are over will passenger demand hold up? The question was the focus of the annual congress of the Airports Council International (ACI) Europe in Rome this week, held at the cusp of the approaching peak season.