Authorities in China have ordered hundreds of factories to cut back activity ahead of the Group of 20 summit in Hangzhou in early September, in a bid to ensure clean air, but the restrictions may cut oil demand in the world’s second-biggest oil consumer.

In a striking shift, US President Barack Obama and Russian President Vladimir Putin are embarking on a tentative path toward closer ties and possible military cooperation, as the bitter rift over Ukraine gives way to common cause against the Islamic State group.

Greece’s ruling Socialists were in open revolt against their own prime minister ahead of a crucial confidence vote tonight.

THE cost of Irish bonds eased significantly yesterday, following reassurances from EU leaders that lenders would not suffer any losses on the monies lent to eurozone countries.

LEADERS of the world’s industrialised powers warned yesterday that the global economy remains in danger and backed away from pledges on global warming as they started their annual summit.