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Telfs-Buchen, Austria (CNN) Ukrainian President Volodymyr Zelensky told G7 leaders during a virtual meeting Monday that he wants the war in Ukraine to end by the end of 2022, according to a source familiar with his remarks , as leaders worked to starve Russia of its oil revenues and mitigate the economic fallout of the conflict. The dual missions -- sustain support for Ukraine while easing economic pressures at home -- have defined this year's summit of leading democracies, held high in the Bavarian Alps. While largely united, the leaders are all facing their own political imperatives to see a momentum shift in the fighting and bring an end to the conflict quickly. To that end, leaders were nearing an agreement to try capping the price of Russian oil, depriving the country of revenues that have soared amid the global spike in energy prices. Details were still being ironed out, including whether the top buyers of Russian oil would agree to the limits, but US officials … [Read more...] about G7 leaders work to ‘starve’ Russia of oil money as Zelensky says he wants the war over by the end of the year

- A + A SCHLOSS ELMAU, Germany (June 27): The Group of Seven (G7) rich democracies will commit on Tuesday (June 28) to a new package of coordinated actions meant to raise pressure on Russia over its war in Ukraine, and will finalise plans for a price cap on Russian oil, a senior US official said on Monday. The announcement came amid news that Russia looked set to plunge into its first sovereign default in decades and Ukrainian President Volodymyr Zelenskiy spoke to address G7 leaders meeting at an alpine resort in southern Germany. "The dual objectives of G7 leaders have been to take direct aim at [Russian President Vladimir] Putin's revenues, particularly through energy, but also to minimise the spillovers and the impact on the G7 economies and the rest of the world," the US official said on the sidelines of the annual G7 summit. The G7 nations, which account for nearly half the world's economic output, are determined to crank up the pressure on Russia without … [Read more...] about G7 to hike sanctions on Russia, nears oil price cap deal, says US official

Bringing a product to market demands inventiveness. That seems obvious enough, right? Not just the conception of a new idea, though -- the entire process. Because whether you choose to try to license your idea or venture it on your own, you'll have to keep thinking creatively to make it happen. You'll need to strategize . That's just the nature of entrepreneurship. Inventors underestimate this. They want to focus on the fun part. They look for magic bullets where there are none. It doesn't have to be that way! Yes, there's a lot to learn, that's for sure. But if you commit to being open-minded, to relentlessness, to asking questions, well... I can almost guarantee you'll be surprised how far you get. I've brought most of my ideas to market by licensing them, which is both speedier and far less risky than venturing. The step inventors struggle with the most when it comes to licensing their ideas is getting in touch with the right person at the right company at the right time . … [Read more...] about How to Do ‘Pull-Through’ Marketing Like a Pro

- A + A GDANSK/BENGALURU (June 27): UK's FTSE 100 ended at a more than one-week high on Monday, as an easing of Covid restrictions in China and the prospect of global infrastructure funding brought relief to commodity prices, lifting shares of major oil and mining companies. The commodity-heavy FTSE 100 rose 0.7% and hit its highest closing level since June 16, while the domestically focused mid-cap FTSE 250 index advanced 1.0%. Risk sentiment improved as easing Covid curbs in Shanghai and relaxed testing mandates in several Chinese cities supported base metal prices. "The burst of global enthusiasm for equities has put a spring in the step of the FTSE 100 at the start of the week," Hargreaves Lansdown analyst Susannah Streeter said. Oil majors Shell and BP both rose over 1.5%, leading gains on the index. Meanwhile, mining stocks Anglo American, Rio Tinto and Glencore gained between 1.7% and 3% after Group of Seven leaders pledged to raise US$600 … [Read more...] about Commodity stocks drive FTSE 100 to more than one-week high

- A + A MUMBAI/BUENOS AIRES/LONDON (June 27): 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". In April, Modi had said publicly that the world's most populous democracy was ready to fill part of the gap left by Ukraine in global grains markets by increasing its wheat exports, following five consecutive record harvests. India traditionally exports only a modest amount of wheat, retaining most of its crop for domestic consumption. On May 12, India's Ministry of Commerce & Industry said it was preparing to send delegations to nine countries to export a record 10 million tonnes of wheat this fiscal year — sharply up the previous season. But a barrage of alarming data changed all that. First came a downward revision to India's wheat crop in early May as a sudden heatwave hammered yields. Then data on May 12 showed inflation in the nation … [Read more...] about Food export bans, from India to Argentina, risk fueling inflation

I really pity the people who are still holding their breath and waiting for life to get back to normal: that glorious day when we all triumphantly return to business as usual. I've been struggling for a simple way -- by example or analogy -- to break the ugly news to them that they're dreaming. And to demonstrate that, post-pandemic, for a variety of reasons we'll never again look at our lives, our careers, or the world in the same way. Not that that's exactly a terrible thing; nostalgia and tradition are very often just bad excuses to avoid change. We'll never progress by trying to live our lives looking backward. That's why the car's windshield is so much bigger than the rear-view mirror. So, I've settled on single symbol: the ratchet. Not the "full ratchet," which is a venture capital deal provision that protects early investors from later dilution, and something all founders dread. (And lovingly call rat s--t). I'm referring to a basic mechanical device that allows motion … [Read more...] about 4 Pandemic Changes That Will Change Your Business Forever

Share to Twitter Share to Linkedin Starting about seven or so years ago, the folks at The Nature Conservancy (TNC) were looking for a way to address a problem: Governments in many developing countries wanted to protect their natural resources. But they lacked the financing muscle to do so. “There wasn’t enough funding globally to allow countries to achieve their conservation goals, while providing a sustainable funding stream to do so,” says Steve Valdes-Robles, senior attorney at TNC. Ultimately, they devised the Blue Bonds for Ocean Conservation program, a massive debt refinancing project with the government of Belize, which agreed to a long-term commitment for ocean conservation. The $364 million debt conversion reduced Belize’s debt by 12% of GDP, created long-term sustainable financing of approximately $4 million annually for conservation, and locked in a commitment to protect 30% of Belize’s ocean, in addition to other conservation measures. The … [Read more...] about How The Nature Conservancy’s Blue Bond Helped Belize Restructure Its Debt And Conserve Its Oceans

Share to Twitter Share to Linkedin If La Liga returned tomorrow, few teams would be nearly ready. It’s the summer transfer window. Players are holidaying, and most teams around Europe are intent on trimming their squads ahead of the preseason, let alone the thinking about the ultimate kick-off in mid-August. Behind the scenes, club departments are scanning the market, liaising with agents and managing outgoings. Some sides have acted quickly, and others still have plenty to do. In Spain, you can see both sides of the spectrum. If top-flight soccer began sooner than expected, national and European champion Real Madrid would be almost raring to go. Asides from the preseason rigors and getting players back up to speed, it has already assembled a squad to hit the ground running. In an alternate reality, financially compromised Barcelona—La Liga runner-up last time around—would be nowhere near prepared if the matches resumed shortly. With negotiations … [Read more...] about As Cash-Hungry Barcelona Attempts To Keep Up, Real Madrid Looks Dominant

- A + A (June 27): President Joe Biden rebooted his effort to counter China’s flagship trade-and-infrastructure initiative after an earlier campaign faltered, enlisting the support of Group of Seven (G7) leaders at their summit in Germany. The Build Back Better World initiative, named after Biden’s domestic spending and climate agenda, struggled to get off the ground because not enough G7 partners contributed financially when it was unveiled a year ago, according to people familiar with its lack of progress. European officials cited the Biden administration’s inability to get its own ambitious economic legislation through Congress. “When democracies demonstrate what we can do — all that we have to offer — I have no doubt that we’ll win that competition every time,” Biden said during an event on the sidelines of the summit. The measure has been rebranded the “Partnership for Global Infrastructure and Investment” (PGII) and the US is calling on leaders to agree to … [Read more...] about US resuscitates bid at G7 to counter China’s Belt and Road

Share to Twitter Share to Linkedin Novak Djokovic is especially motivated to win his fourth straight Wimbledon title and 21st Grand Slam singles crown in part because he knows it will probably be a while before he plays in another major. The 35-year-old Serb expects to miss the U.S. Open later this summer because he’s unvaccinated against Covid-19 and thus cannot travel to the U.S. as a foreigner, and he faces a three-year ban from the Australian Open after having been deported ahead of the tournament in January, although that ban could end early. “The crazy thought is that he might not be in a major after this one until the French next year because he potentially got his visa revoked for three years in Australia, [he’s] not in the [U.S.] Open,” ESPN tennis analyst Brad Gilbert said on air after Djokovic advanced over South Korea’s Kwon Soon Woo in four sets, 6-3, 3-6, 6-3, 6-4 to reach the second round at Wimbledon. “I mean, it’s a lot to have … [Read more...] about After Wimbledon, Novak Djokovic Might Not Play Another Major Until The 2023 French Open