Author: OMN AI

Brussels Ready to Act Without Full G7 Backing The European Union has made clear it is prepared to press ahead with tougher sanctions on Russia, even if it cannot secure unanimous backing from its G7 partners. Valdis Dombrovskis said a coordinated agreement would be preferable, but stressed that it is not an “absolute precondition” for action. Brussels wants its 20th sanctions package adopted by 24 February, marking four years since Russia’s full-scale invasion of Ukraine. If approved, the measures would include a full ban on maritime services for Russian oil tankers — a move that would effectively end the G7…

Senior UK bank executives will meet this week to begin work on a domestic card payments system.The project aims to reduce reliance on US networks such as Visa and Mastercard. The meeting will be chaired by Vim Maru of Barclays.City institutions will fund the new company, with government support.The initiative, known as DeliveryCo, could be operational by 2030. About 95% of UK card payments currently run through Visa and Mastercard.Executives fear a shutdown of US systems could severely disrupt the economy.The concern has grown amid geopolitical tensions and declining cash use. The Bank of England is designing the technical infrastructure.Major…

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 approach. Iran Focuses on Nuclear Programme and Sanctions Relief…

Volkswagen is preparing a major restructuring to cut costs by 20% by 2028.Reports say plant closures are possible as the group adapts to rising competition from China. Chief executive Oliver Blume and finance chief Arno Antlitz presented the plan to senior managers.The goal is to secure stable profits despite falling sales, high costs and rapid automation. An earlier overhaul already included 35,000 job cuts by 2030 and a €10bn savings target.Volkswagen says previous measures have produced double-digit billion-euro savings. Pressure is growing as the EU trade deficit with China reached €359.3bn in 2025.German carmakers remain deeply invested in the Chinese…

A Public Show of Support in Budapest U.S. Secretary of State Marco Rubio brought a clear political message to Budapest: the Trump administration stands firmly behind Hungarian Prime Minister Viktor Orbán. Speaking after the Munich Security Conference, Rubio praised Orbán’s close personal relationship with Donald Trump, calling it central to the strength of U.S.-Hungarian ties. Rubio said Trump is “deeply committed” to Orbán’s success, framing Hungary’s prosperity as aligned with American interests. He also pointed to Hungary’s recent one-year exemption from U.S. sanctions on importers of Russian oil, suggesting it was made possible by the leaders’ personal connection. During the…

Big Tech companies are ramping up artificial intelligence development with record-breaking capital expenditure. They plan to spend over 700 billion dollars in 2026, roughly 590 billion euros. This marks a 75 percent increase from 2025. Several firms released earnings reports and outlined their 2026 spending plans. Analysts confirmed these projections and stressed their strategic importance. Wall Street focuses on the combined capital expenditure figure. More than 700 billion dollars will flow into AI infrastructure this year. That amount exceeds Sweden’s nominal GDP for 2025, according to IMF estimates. Global chip sales are expected to hit one trillion dollars for the…

Competing Visions of the West This year’s Munich Security Conference put transatlantic tensions on full display, as American and European leaders outlined sharply different views about the future of the West. U.S. Secretary of State Marco Rubio urged Europeans to join Washington in what he framed as a mission to rescue a declining civilisation. He warned against simply maintaining what he described as a failing status quo, saying the United States had no interest in overseeing a “managed decline.” While his tone was less confrontational than last year’s remarks by Vice President JD Vance, Rubio’s message was similar: the West,…

Daily tablets are reshaping the race for obesity treatments and widening the market.New GLP-1 pills suppress appetite like the injections but are easier to take and cheaper.Analysts expect global sales to approach $200bn within the next decade. Novo Nordisk launched the first oral Wegovy in the US, with rapid early uptake.Many patients are switching from weekly jabs because pills feel more convenient and provide steadier appetite control.They also remove the need for refrigeration and injections. Rival Eli Lilly is preparing its own tablet, intensifying competition.Oral drugs are slightly less effective than injections, so people with severe obesity may stay on…

Health agencies warn that measles continue to threaten Europe, despite a drop in cases in 2025 compared with the previous year’s record. Experts call for urgent action to fight 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 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 and immunisation, said…

Driver unrest overshadowed the second Formula One pre-season test in Bahrain.Max Verstappen strongly criticised the new regulations.He said the complex energy management makes the car “not fun to drive”.He described the concept as “anti-racing” and compared it to “Formula E on steroids”.He again hinted he could leave the sport if the enjoyment disappears. Lewis Hamilton voiced similar concerns.He called the new systems extremely complex for drivers and fans.He said understanding them requires near-academic knowledge. The 2026 rules introduce new engines, chassis, tyres and sustainable fuel.The power units now rely almost equally on combustion and electric energy.Drivers must constantly manage deployment…