Author: OMN AI

Brussels Prepared to Act Without Full G7 Unity The European Union is ready to press ahead with a sweeping ban on maritime services for Russian oil tankers, even if it fails to secure backing from its G7 partners. Valdis Dombrovskis said that while coordination with the G7 would be preferable, it is not an “absolute precondition” for action. The comments come as EU member states negotiate a 20th package of sanctions against the Kremlin, which Brussels hopes to finalise by 24 February — the fourth anniversary of Russia’s full-scale invasion of Ukraine. If approved, the ban would effectively render the…

Senior UK bank executives will meet this week to begin creating a domestic card payments system.The project aims to reduce reliance on Visa and Mastercard and protect the economy from potential disruption. The talks will be chaired by Vim Maru of Barclays.City institutions will fund the new company, while the government supports the initiative.About 95% of UK card transactions currently run through the two US networks. Concerns have grown over geopolitical risk and the possibility of foreign systems being switched off.Officials say a domestic alternative would add resilience as cash use declines.In Russia, sanctions that halted Visa and Mastercard left…

US President Donald Trump said he will be indirectly involved in talks between Iran and the United States starting later Tuesday in Geneva. He spoke to reporters aboard Air Force One and said he believes Iran wants to reach a deal on its nuclear programme. The second round of talks in Switzerland follows repeated US military threats against Iran over its deadly crackdown on anti-government protests and the ongoing dispute over its nuclear programme. On Monday, Iran’s foreign ministry said it believes the US position has shifted toward a more realistic stance. Iran Prioritizes Sanctions Relief While US Pushes Broader…

Volkswagen aims to cut costs by 20% by 2028 in a major restructuring drive.Plant closures are reportedly under consideration as the company seeks stable profits. Chief executive Oliver Blume and finance chief Arno Antlitz presented the plan to senior managers.The overhaul responds to weak sales, high costs and rising competition from Chinese carmakers in Europe. An earlier programme already included 35,000 job cuts by 2030 to save €10bn.Volkswagen says it has achieved savings worth tens of billions of euros so far. New data shows the EU trade deficit with China rose to €359.3bn in 2025.German manufacturers remain deeply tied to…

A Personal Bond Framed as Political Support U.S. Secretary of State Marco Rubio used his visit to Budapest to deliver a clear message from Donald Trump: Washington wants Prime Minister Viktor Orbán to succeed. Standing alongside Orbán after the Munich Security Conference, Rubio emphasized the personal relationship between the Hungarian leader and Trump, describing it as central to strong bilateral ties. He said the U.S. president is “deeply committed” to Orbán’s success, arguing that Hungary’s prosperity aligns with American national interests. Rubio also pointed to Hungary’s one-year exemption from U.S. sanctions on importers of Russian oil, granted last November, as…

Big Tech companies are dramatically increasing artificial intelligence investment, planning to spend over 700 billion dollars in 2026, roughly 590 billion euros, a 75 percent jump from 2025. Several firms released earnings reports and detailed their 2026 spending plans. Analysts confirmed these projections and stressed their strategic importance. Wall Street is focused on the combined capital expenditure figure. More than 700 billion dollars will flow into AI infrastructure this year, surpassing Sweden’s nominal GDP for 2025, according to IMF estimates. Global chip sales are projected to reach one trillion dollars for the first time this year. The US Semiconductor Industry…

Competing Visions of the West This year’s Munich Security Conference made one thing clear: the West is debating not just policy, but identity. Over three days, senior officials from the United States, Ukraine and across Europe laid out sharply different ideas about what the Western alliance represents — and whether it is in decline. U.S. Secretary of State Marco Rubio urged Europeans to help “save” what he described as a shared civilisation. He argued that America has no interest in politely managing what he sees as the West’s gradual decline. While his tone was calmer than last year’s speech by…

Daily weight-loss tablets are widening the market for GLP-1 treatments and raising Big Pharma’s growth hopes.Analysts expect the sector to reach about $200bn by the early 2030s as easier-to-take pills attract new users. Novo Nordisk launched the first oral Wegovy for weight loss in the US, with prescriptions rising rapidly.Patients switching from injections say tablets offer simpler use and steadier appetite control.Lower prices and no need for refrigeration also make them more accessible. Rival Eli Lilly is preparing its own pill, intensifying competition.Injections still produce greater weight loss, so people with severe obesity will likely stay with them.Pills are expected…

Health agencies warn that measles continue to threaten Europe, despite a drop in cases in 2025 compared with the previous year’s record. Experts urge urgent measures to counter vaccine hesitancy and prevent new outbreaks across the continent. Measles often fade from public attention, yet the virus continues to spread in multiple European countries. Europe reported 127,350 measles cases in 2024, the highest total since 1997. Cases fell in 2025, but infections still doubled compared with 2023, according to the European Centre for Disease Prevention and Control. Sabrina Bacci, head of the ECDC programme on vaccine-preventable diseases and immunisation, said Europe…

Driver criticism overshadowed Formula One’s second pre-season test in Bahrain.Max Verstappen attacked the new regulations and called the car “anti-racing”.He said the complex energy management makes driving less enjoyable.He compared the experience to “Formula E on steroids”.He again warned he could leave the sport if the racing stops being fun. Lewis Hamilton voiced similar concerns.He said the systems are extremely complex and difficult for fans to understand.The 2026 rules introduce new engines, chassis, tyres and fully sustainable fuel.The engines now rely on an almost equal split between combustion and electric power. Testing times remained inconclusive.Mercedes set the fastest laps through…