with the start of wimbledon, we take a look at how sponsors are trying to ace the event. let s start with more on the important meeting taking place in the bavarian mountains today, where g7 leaders are gathered for their latest summit. the conflict in ukraine and the effects the russian invasion is having on the global economy is top of the agenda. leaders will consider imposing a price cap on russian crude, which is an idea strongly supported by the white house. russian oil and gas sales could hit $285 billion this year, which is 20% higher than last year s figure. as well as discussing energy food inflation and security is causing a headache for g7 leaders. with around 20 million tonnes of grain stuck inside ukraine, unrest has erupted in countries from indonesia to iran, and hunger now is predicted to affect 867 million people this year. to discuss this i m joined by professor olivier de schutter co chair of the international panel of experts on sustainable food syste
And he was deciding actually after the end of june we have to review the spending on this, it is not sustainable end in that speech. and nigeria is spending around $867 million every month on fuel subsidy. it is a very expensive venture for a country which is over $100 billion in debt. and that budget debt is actually more than the education and health budget put together that the country spends. but nigerians are angry at the manner in which it was announced. it immediately caused panic because people suddenly stormed petro stations trying to stock up. some gas stations stopped selling all together because they sensed a greater pay day ahead. they consider cheap gas part of their inheritance if you like. citizens of oil producing country, and they receive so
The government $867 million every month just to keep gas prices artificially low for nigerians. and many understand that it has to go but it is the manner in which it was announced. and this was an ad will i be mo lib moment from the president who was trying to say that he doesn t have capacity beyond the end of the month to continue to fund the subsidy because he was not left any money in the budget to do so. but it sent shockwaves through the nation. people are panic buying, long line, people waiting in their cars to stock up gas for their cars. we ve been talking to people on the streets of lagos. take a listen. if we were given time before they fully remove the subsidy, it would have helped us in a way because i believe the government is heading towards the right
As well as discussing energy food inflation and security is causing a headache for g7 leaders. with around 20 million tonnes of grain stuck inside ukraine, unrest has erupted in countries from indonesia to iran, and hunger now is predicted to affect 867 million people this year. to discuss this i m joined by professor olivier de schutter co chair of the international panel of experts on sustainable food systems. we have mentioned the many millions facing hunger and starvation right now, as parts of the world. just describe where we are at when it comes to this crisis? to this crisis? what this crisis is to this crisis? what this crisis is leading - to this crisis? what this crisis is leading to - to this crisis? what this crisis is leading to is . to this crisis? what this| crisis is leading to is the number of people in serious food insecurity, bordering to famine, has basically doubled,
Is that a right summery? can you explain that? yeah, the detroit institute of arts is very unusual because it s owned by the city of detroit. the city purchased much of the art in the 1920s and 1930s and so those that artwork is still an asset of the city today. the question is, will the creditors get their hands on the art and force the city to sell it off? the city wants to do a deal in which the state of michigan, a group of non-profit foundations raise $800 million to reduce potential pension cuts and allow the museum to spin off. that would preserve the museum. a lot of creditors are expected to fight that deal. the auction house appraised all of this. a lot of the art is as much as $867 million. that was a small portion of the thousands of works of arts available. any talk, nathan, if they were sold, the art could remain there