Author: OMN AI

Governments Brace for the Impact of ETS2 European Union countries have agreed to strengthen a financial safeguard aimed at preventing sharp spikes in carbon prices, as the bloc prepares to roll out a new emissions trading system covering road transport and buildings in 2028. The updated system, known as ETS2, will put a price on carbon emissions from cars, vans, and heating fuels. That means households and businesses relying on fossil fuels are likely to face higher costs once it takes full effect. With concerns growing over the potential hit to consumers, governments are trying to ensure the transition doesn’t…

“Life is becoming more expensive,” says Alexander, an advertising specialist from Moscow who works for a large corporation. His monthly food budget jumped by more than 22% in one month, rising from 35,000 roubles to 43,000 roubles. Russia’s economy now balances between stagnation and decline, and citizens increasingly feel the financial strain of the war in Ukraine as it approaches its fourth year. Alexander noticed price increases for almost all essential goods in supermarkets, including eggs, chicken fillets, and seasonal vegetables. Journalists changed all names in this report to protect sources. Even his daily Americano on the way to work…

Brussels Weighs a Solo Move The European Union is prepared to press ahead with stricter sanctions on Russian oil tankers, even if it cannot secure full backing from its G7 partners. Valdis Dombrovskis said a joint agreement would be preferable but is not an “absolute precondition” for action. The proposed measures form part of the bloc’s 20th sanctions package against the Kremlin, which Brussels hopes to approve by 24 February, marking four years since Russia’s full-scale invasion of Ukraine. At the heart of the debate is a potential full ban on maritime services for Russian oil tankers. If adopted, EU-based…

Senior UK bank executives will meet this week to launch a domestic payments network to rival Visa and Mastercard.The talks will be chaired by Vim Maru of Barclays. The project aims to protect the economy if US-owned card systems were ever disrupted.About 95% of UK card payments currently run through Visa or Mastercard.Executives warn that losing them would force businesses back to a cash-based model. Concerns have grown amid geopolitical tensions and Donald Trump’s recent threats toward Nato allies.Sanctions on Russia showed how quickly payment access can collapse when US networks withdraw. The initiative, known as DeliveryCo, will be funded…

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 Expands…

Volkswagen aims to cut costs by 20% by 2028 as competition from Chinese carmakers intensifies.Reports say plant closures are being considered as part of the restructuring. 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 €10bn in planned savings.The company says previous measures have produced savings in the double-digit billion-euro range. The pressure comes as the EU trade deficit with China continues to grow.German carmakers remain deeply dependent on…

A Public Show of Support in Budapest U.S. Secretary of State Marco Rubio delivered a clear message from Donald Trump during his visit to Budapest: Washington wants Viktor Orbán to remain in power. Speaking alongside Orbán after the Munich Security Conference, Rubio praised the Hungarian leader’s close personal relationship with Trump, saying that connection had strengthened ties between the two countries. He added that Trump is “deeply committed” to Orbán’s success, framing Hungary’s stability and prosperity as aligned with U.S. interests. Rubio pointed to Hungary’s recent one-year exemption from U.S. sanctions on Russian oil importers as an example of how…

Big Tech companies are dramatically ramping up artificial intelligence development with record-breaking capital expenditure. They plan to spend more than 700 billion dollars in 2026, roughly 590 billion euros, marking a 75 percent increase from 2025. Several firms released earnings reports and detailed their 2026 spending plans. Analysts confirmed these projections and highlighted their strategic significance. 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…

Is the West in Decline — or Just Changing? This year’s gathering at the Munich Security Conference exposed a growing divide over what the West represents — and whether it needs rescuing at all. U.S. Secretary of State Marco Rubio urged European allies to help “save” what he described as a shared civilisation. He warned that the United States has no interest in managing what he called the West’s slow decline and pushed Europeans to rethink policies he blamed for weakening the transatlantic alliance. At the same time, he emphasized that America’s future remains tightly linked to Europe, describing the…

Daily obesity tablets are accelerating the shift away from injections and opening a much larger market for drugmakers.Oral versions of GLP-1 treatments reduce appetite like the jabs but are easier to take, cheaper and require no refrigeration.Analysts expect these advantages to attract new patients who previously avoided treatment. Novo Nordisk launched the first weight-loss pill form of Wegovy in the US, and early demand has been strong.Rival Eli Lilly plans to follow with its own tablet, intensifying competition in a market forecast to reach about $200bn within a decade. Patients switching from injections report more consistent appetite control and lower…