Author: OMN AI

Brussels Willing to Act Without Full G7 Unity The European Union is prepared to move ahead with a sweeping ban on maritime services for Russian oil tankers, even if it fails to secure full backing from its G7 partners. Valdis Dombrovskis said a joint decision would be ideal but stressed that it is not an “absolute precondition” for action. His 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 proposed ban would effectively…

Senior UK banking figures will meet this week to begin creating a national card payments system.The project aims to reduce reliance on US networks such as Visa and Mastercard. The talks will be chaired by Vim Maru of Barclays.City investors will fund the new company, known as DeliveryCo, with government support.The Bank of England will design the technical infrastructure. About 95% of UK card payments currently run through the two US firms.Executives warn that losing access would severely disrupt the economy as cash use declines.Concerns have grown over geopolitical tensions and the risk of foreign control over critical systems. The…

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 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 approach. Iran Focuses on Nuclear Programme and Sanctions Relief Iran…

Volkswagen aims to cut costs by 20% by 2028 in a major restructuring drive.Reports say plant closures are possible as the group seeks stable profits. Chief executive Oliver Blume and finance chief Arno Antlitz outlined the plan to senior managers.Falling sales, high expenses and rising Chinese competition are driving the changes.Automation is also reshaping Germany’s car industry. An earlier overhaul already included 35,000 job cuts by 2030 to save €10bn.The company says it has achieved savings in the double-digit billion-euro range so far. EU data shows the trade deficit with China climbed to €359bn in 2025.German carmakers remain deeply linked…

A Personal Message from Washington U.S. Secretary of State Marco Rubio brought a clear message to Budapest: President Donald Trump wants Viktor Orbán to succeed. Standing alongside Orbán after the Munich Security Conference, Rubio emphasized the close personal relationship between the Hungarian leader and Trump, calling it a key factor in strengthening ties between the two countries. He said Trump is “deeply committed” to Orbán’s success, arguing that Hungary’s prosperity aligns with American interests. Rubio pointed to Hungary’s recent one-year exemption from U.S. sanctions on importers of Russian oil as an example of how that relationship has paid off. According…

Big Tech companies are accelerating artificial intelligence development with unprecedented capital expenditure. They plan spending above 700 billion dollars in 2026, equal to about 590 billion euros. This marks a roughly 75 percent increase compared with 2025. Several companies released earnings reports and outlined their spending plans. Analysts confirmed these projections and emphasised their strategic significance. Wall Street focuses heavily on the combined capital expenditure figure. The market tracks more than 700 billion dollars flowing into AI infrastructure this year. That amount exceeds Sweden’s nominal GDP for 2025, according to IMF estimates. Global chip sales are expected to reach one…

Competing Visions of What the West Stands For This year’s Munich Security Conference put the state of the transatlantic alliance under a harsh spotlight. Senior officials from the United States, Europe and Ukraine gathered for three days of talks, but beneath the formal speeches lay a clear divide over what the West represents — and where it is headed. U.S. Secretary of State Marco Rubio argued that Western civilisation is in decline by choice and needs to be revitalised. He said Washington has “no interest in being polite and orderly caretakers” of what he described as a fading status quo.…

Daily GLP-1 tablets are widening access to weight-loss treatment and reshaping the sector.Analysts expect the market to approach $200bn within the next decade. Novo Nordisk has launched the first oral version of Wegovy in the US.Early demand has been strong as patients switch from injections or start therapy for the first time.Many prefer pills because they are cheaper, easier to use and require no refrigeration. Eli Lilly is preparing a rival tablet, intensifying the race for new patients.Tablets are less effective than jabs but attract people who are overweight or needle-averse.Injections will likely remain the choice for severe obesity. Rising…

A new $92 million affordable housing project is now under construction in Albany, New York, aiming to provide high-quality homes for residents and strengthen community stability. The development includes multiple units designed to meet the needs of families and individuals seeking affordable rental options in the city. City officials and developers highlight the project as a major step toward addressing housing challenges in Albany. With rental prices continuing to rise in many urban areas, the addition of affordable units helps ensure that more residents can live close to work, schools, and essential services. Analysts say projects like this support long-term…

Health agencies warn that measles remain a serious challenge in Europe, despite a decline in cases in 2025 compared with the previous year’s record. Experts call for urgent action to counter vaccine hesitancy and prevent renewed outbreaks across the continent. Measles often disappear from public debate, but they continue to spread in several European countries. Europe reported 127,350 measles cases in 2024, which marked the highest total since 1997. Cases declined 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…