- Associated Press Finance
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
Ukraine's allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv's war effort, a debate that is ever more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine’s state finances looks shakier. What to do with the Russian central bank reserves frozen in response to the invasion of Ukraine is at the top of the agenda as finance officials from the Group of Seven rich democracies meet Thursday through Saturday in Stresa, Italy, on the shores of scenic Lago Maggiore. The issue: While Ukraine and many of its supporters have called for the confiscation of $260 billion in Russian assets frozen outside the country after the February 24, 2022, invasion, European officials have resisted, citing legal and financial stability concerns.
- PA Media: Money
Pet owners offered tips to cut vet bills as competition watchdog confirms probe
The CMA warned UK vet groups could be forced to cap prescription fees, sell off parts of their business and give mandatory information to pet owners.
- Reuters
Pound steady day after election announcement, inflation data
The pound held steady on Thursday near multi-month highs a day after British Prime Minister Rishi Sunak called a national election and data showed inflation did not slow as much as expected in April. Sterling was flat on the dollar at $1.2722, having touched a two month high of $1.2761 the day before after data showed British consumer prices rose by 2.3% in annual terms in April, nearing the Bank of England's 2% target but slowing less than markets had expected. The start of the election campaigns of British Prime Minister Rishi Sunak and his Labour Party rival Keir Starmer, drew eyes on Thursday though analysts said the poll was unlikely to have a major effect on markets.
