Author: OMN AI
OMN AI
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Senior UK bank executives will meet this week to begin creating a domestic payments network to rival Visa and Mastercard.The project aims to protect the economy if access to US-owned systems is ever disrupted. The meeting will be chaired by Vim Maru of Barclays and will include major lenders and payment firms.The industry-funded, government-backed plan has been discussed for years but gained urgency amid geopolitical tensions and fears over reliance on US infrastructure. About 95% of UK card payments run through Visa or Mastercard.Executives warn that losing those networks would severely disrupt daily transactions in a largely cashless economy.Sanctions that…
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 Pushes for Sanctions Relief While US Broadens…
Volkswagen aims to cut costs by 20% by 2028 as competition from Chinese carmakers intensifies.Plant closures remain a possible part of the restructuring. Chief executive Oliver Blume and finance chief Arno Antlitz outlined the savings plan to senior managers.The goal is to secure sustainable profits despite falling sales, high costs and rapid industry automation. An earlier overhaul already included 35,000 job cuts by 2030 and a €10bn savings target.Volkswagen says previous measures have saved tens of billions of euros and helped offset geopolitical pressures such as US tariffs. The push comes as the EU trade deficit with China continues to…
U.S. Signals Support for Orbán U.S. Secretary of State Marco Rubio traveled to Budapest to deliver a message of support from former President Donald Trump to Hungarian Prime Minister Viktor Orbán, whose ruling Fidesz party is trailing in polls ahead of April’s elections. At a press conference, Rubio praised Orbán’s personal rapport with Trump and credited it for strengthening U.S.–Hungary relations, citing last year’s one-year exemption from U.S. sanctions on Russian oil imports as an example of tangible benefits. Rubio’s visit followed the Munich Security Conference and included Slovakia, where he met Prime Minister Robert Fico, another Trump supporter. In…
Big Tech companies are escalating artificial intelligence investment at an unprecedented pace. They plan to spend over 700 billion dollars in 2026, roughly 590 billion euros, a 75 percent increase from 2025. Several firms released earnings reports and outlined their 2026 spending plans. Analysts confirmed these projections and emphasised their strategic impact. Wall Street is closely watching the combined capital expenditure figure. More than 700 billion dollars will flow into AI infrastructure this year, exceeding 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.…
Diverging Views on Europe’s Role The Munich Security Conference brought together top leaders from the U.S., Europe, and Ukraine, revealing starkly different visions for the future of the West. U.S. Secretary of State Marco Rubio called on Europe to help “save the West” from what he described as civilisational decline caused by poorly designed policies on climate and migration. He urged Europeans to join the U.S., describing America as a “child of Europe” whose destiny remains intertwined with the continent. European Commission President Ursula von der Leyen said Rubio’s message reassured her about U.S.-EU ties. But EU foreign policy chief…
Daily weight-loss tablets are moving the obesity drug market beyond injections.The new oral Wegovy from Novo Nordisk has recorded rapid early demand in the US.Analysts say easier use could push the sector toward a $200bn value. Patients are switching because pills are simpler and cheaper.They avoid needles and do not need refrigeration.Some users report steadier appetite control than with weekly shots.Insurance coverage and falling prices are also driving uptake. Rival Eli Lilly plans to launch its own tablet soon.More companies are developing oral and combination treatments.Injections still produce greater weight loss, so they will remain important for severe obesity. Rising…
Health agencies warn that measles continue to threaten Europe, despite a decline in cases in 2025 compared with the previous year’s record. Experts call for urgent measures to tackle 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…
Max Verstappen criticised Formula One’s new regulations after pre-season testing in Bahrain.He said the heavy focus on energy management makes the cars “not fun to drive”.He described the experience as “anti-racing” and compared it to “Formula E on steroids”.He again suggested he could leave the sport if he stops enjoying it. Lewis Hamilton voiced similar concerns.He called the new systems extremely complex and difficult for fans to follow.The 2026 rules introduce new engines, chassis, tyres and fully sustainable fuel.The power units now rely almost equally on combustion and electric energy. Testing times remained inconclusive.Mercedes set the fastest laps with Kimi…
A Warning From Munich At the Munich Security Conference, Ukrainian President Volodymyr Zelenskyy delivered a clear message: Europe needs to be more involved in negotiations to end the war with Russia. He called it a “big mistake” that European leaders are not more present in U.S.-driven talks, arguing that any durable peace must reflect the security interests of the entire continent — not just Kyiv and Washington. With another round of trilateral discussions between Ukraine, the United States and Russia on the horizon, Zelenskyy acknowledged that progress toward a ceasefire has been limited. He voiced frustration that the sides often…
