Author: OMN AI

Brussels Considers Full Ban Despite G7 Uncertainty The European Union is preparing to impose a full ban on maritime services for Russian oil tankers, even if G7 allies fail to reach a coordinated agreement. Valdis Dombrovskis said Brussels prefers a joint approach but is ready to move independently if necessary. Officials aim to approve the 20th sanctions package by 24 February, coinciding with the fourth anniversary of Russia’s invasion of Ukraine. If implemented, the ban would override the G7’s existing oil price cap within EU jurisdiction, stopping European companies from servicing Russian tankers regardless of the price of Urals crude.…

Senior UK bank executives will meet this week to begin work on a national payments system to rival Visa and Mastercard.The talks, chaired by Vim Maru of Barclays, aim to reduce reliance on US-owned networks. About 95% of UK card transactions currently run through the two companies.Industry figures warn that losing access would cause severe economic disruption.Concerns have grown alongside geopolitical tensions and the decline of cash use. The project, known as DeliveryCo, will be funded by City institutions with government support.Participants include Santander UK, NatWest, Lloyds Banking Group, Nationwide Building Society and Link.The Bank of England will design 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 moved toward a more realistic stance. Iran Targets Sanctions Relief While Washington Pushes Broader Issues…

Volkswagen aims to cut costs by 20% by 2028 as it restructures to face rising competition from China.Plant closures remain a possible option under the plan presented by chief executive Oliver Blume and finance chief Arno Antlitz. High production costs, weaker sales and the growth of Chinese brands in Europe are driving the overhaul.Automation is also forcing change across Germany’s car industry. The group had already announced 35,000 job cuts by 2030 to save €10bn.It says earlier measures have produced savings in the double-digit billions and helped absorb geopolitical pressures such as US tariffs. New data showing a wider EU…

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 highlighted their strategic relevance. 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…

Clashing Visions of Europe’s Role At this year’s Munich Security Conference, the West’s identity and purpose came under scrutiny. U.S. Secretary of State Marco Rubio urged European nations to help “save the West” from decline, criticizing poorly designed policies on climate and migration while calling for greater transatlantic unity. Rubio described America as a “child of Europe,” emphasizing that its fate is tied to the continent. EU foreign policy chief Kaja Kallas rejected the idea that Europe is in crisis, asserting that the continent is not facing civilisational collapse. Meanwhile, Volodymyr Zelenskyy pressed European leaders to commit to a timeline…

Daily obesity tablets are reshaping the race dominated by GLP-1 injections.The new oral version of Wegovy from Novo Nordisk has seen rapid uptake in the US.Patients and doctors say pills are easier to use, cheaper and more convenient than weekly shots. Many users are switching because of insurance costs or needle aversion.They report steady appetite control and continued weight loss.Analysts believe tablets will draw in people who avoided injections.The global obesity-drug market could reach $200bn within the decade. Rival Eli Lilly is preparing its own pill, orforglipron.It does not require fasting and may be simpler to take.More oral and combination…

Economists are projecting a positive outlook for the U.S. housing market in 2026, with home sales expected to gradually improve even if prices remain relatively stable. Analysts say the trend may provide buyers with renewed confidence in the housing market and encourage more transactions over the year. Housing experts note that steady prices can benefit buyers by reducing uncertainty. After years of rapid price increases, a stable market allows households to plan purchases without fear of sudden spikes. This stability may also support first-time buyers who have struggled to enter the market. Moderate improvements in home sales are expected to…

Health agencies warn that measles remain a major challenge in Europe, even after a decline in cases in 2025 compared with the previous year’s record. Experts urge urgent action to confront vaccine hesitancy and prevent fresh outbreaks across the continent. Measles often fade from public attention, but they continue to spread in several European countries. Europe reported 127,350 measles cases in 2024, which marked the highest number 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…

Max Verstappen strongly criticised Formula One’s new regulations after testing in Bahrain.He said the heavy focus on energy management makes the cars “not fun to drive”.He called the changes “anti-racing” and compared them to “Formula E on steroids”.He again suggested he could leave the sport if the enjoyment disappears. Lewis Hamilton voiced similar concerns.He said the systems are so complex that fans will struggle to understand them.He argued drivers now need extensive technical knowledge to operate the cars. The 2026 rules introduce new engines, chassis, tyres and fully sustainable fuel.Power now comes almost equally from combustion and electric sources.Drivers must…