Opening Bell: G7 warns of Brexit danger, Trump's plans for US oil, Snapchat moves to $18bn valuation

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David Cameron has received a boost in his campaign to keep Britain in the European Union after leaders at the G7 summit warned a Brexit would be a "serious risk" to global economic growth.

The joint declaration from the leaders of the US, UK, Japan, Germany, France, Italy and Canada included a passage saying, "UK exit from the EU would reverse the trend toward greater global trade, investment and the jobs they create and is a further serious risk to growth."

The statement at the end of the two-day Ise-Shima summit follows similar heavyweight interventions from the International Monetary Fund, Organisation for Economic Co-operation and Development, G7 finance ministers and previous comments from Barack Obama.

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Donald Trump has promised that he will help to increase US oil production if he is elected US President - arguing that the Democratic Party would leave the US "begging for oil" from the Middle East.

He believes that fossil fuel industries should have less regulation and that that production should be increased.

"I want to be energy independent, yes, absolutely … and we also want to sell our energy to other places," Mr Trump said, adding that he hopes to cancel commitments agreed to by the US at last year's Paris climate change accord.

Donald Trump has apparently reached the number of delegates needed to win the Republican nomination for US president. Associated Press has made the calculation, despite five more state primaries taking place on June the 7th.

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Snapchat's market value has edged towards $18bn (€16bn) after its latest round of funding.

The ethereal meaning app has raised an additional $1.8bn. While the company continues to attract investors, the rate at which it has been gathering funds has slowed.

The company expects to generate revenue between $250m and $300m, more than four times the $60m made last year.

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Tesco workers and the company have agreed to return to talks today at the Workplace Relations Commission.

It comes after an all-out strike at 70 Tesco stores yesterday was called off.

The row centres on planned changes to pay and rosters, which will affect around 300 long-serving staff who are on pre-1996 contracts.

Tesco employs around 14,000 workers across 140 stores.

 

Additional reporting by IRN