Senior UK banking executives will meet this week to begin creating a national alternative to Visa and Mastercard.The project aims to protect the economy if access to US-owned payment systems is disrupted. The talks will be chaired by Vim Maru of Barclays.City investors will fund the new company, while the government supports the plan.The system, known as DeliveryCo, could be operational by 2030. About 95% of UK card payments currently run through Visa and Mastercard.Executives warn that losing those networks would force businesses back to a cash-based economy.Sanctions that cut Russia off from the two firms showed how severe the…
Author: OMN AI
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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 stance. Iran Pushes for Sanctions Relief While US Expands…
Volkswagen aims to cut costs by 20% by 2028 as it reshapes the business for a tougher market.Plant closures remain a possible part of the programme. Chief executive Oliver Blume and finance chief Arno Antlitz presented the plan to senior managers.The goal is to secure sustainable profits despite falling sales, high costs and the rapid growth of Chinese brands in Europe. An earlier restructuring 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 billions and helped absorb geopolitical pressures such as US tariffs. The overhaul comes as…
Trump Backing Highlighted in Budapest U.S. Secretary of State Marco Rubio visited Budapest to convey a message of support from former President Donald Trump to Hungarian Prime Minister Viktor Orbán, whose ruling Fidesz party faces a strong challenge from the opposition ahead of April’s elections. Rubio praised the personal relationship Orbán built with Trump, saying it has “made all the difference in the world” in strengthening U.S.–Hungary ties. Rubio also highlighted Hungary’s recent one-year exemption from U.S. sanctions on Russian oil imports as an example of the benefits of that connection. “It was because of that personal relationship… we want…
Big Tech companies are accelerating artificial intelligence development with record-breaking capital expenditure. They plan to spend over 700 billion dollars in 2026, roughly 590 billion euros, marking a 75 percent increase from 2025. Several firms released earnings reports and outlined their 2026 spending plans. Analysts confirmed these projections and highlighted 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 first time…
Competing Visions of Europe and the West This year’s Munich Security Conference showcased sharply different views on the future of the West. U.S. Secretary of State Marco Rubio urged European nations to join the U.S. in preserving Western civilization, warning that poor policies on climate and migration risked a managed decline. He emphasized that America’s destiny is deeply tied to Europe’s, framing transatlantic cooperation as essential. European Commission President Ursula von der Leyen said she felt reassured by Rubio’s commitment to partnership. In contrast, EU High Representative Kaja Kallas rejected the idea that Europe needs rescuing, dismissing claims that the…
Daily GLP-1 tablets are accelerating the shift from injections to easier treatments.Drugmakers expect the change to expand a market that could reach $200bn this decade. Novo Nordisk launched the first oral version of Wegovy in the US in December.Early demand was strong, with tens of thousands of weekly prescriptions.Patients switching from jabs say pills offer steadier appetite control and greater convenience. Cost still shapes choices.Some users moved to tablets after insurance stopped covering injections such as Zepbound.Tablets are cheaper, easier to store and more acceptable for people who avoid needles. Eli Lilly will soon launch a rival pill, intensifying competition.Oral…
Rents are finally easing in several U.S. cities, offering relief to renters who have faced years of steep increases. Cities such as Austin, Texas, are seeing noticeable declines, marking a shift in the housing market trend. Experts say the slowdown in rent growth is driven by higher housing supply, changing demand, and market adjustments following years of rapid price increases. Renters are experiencing some of the first tangible affordability improvements in a long time. Austin is one of the cities where rents are falling most sharply. After years of being one of the fastest-growing rental markets in the country, rental…
Health agencies warn that measles continue to challenge Europe, despite a decline in cases in 2025 compared with the previous year’s record. Experts urge urgent action to tackle vaccine hesitancy and prevent new outbreaks across the continent. Measles often fade from public attention, yet the virus continues to spread in many 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 Europe…
Max Verstappen criticised Formula One’s new regulations after pre-season testing in Bahrain.He said the heavy energy management makes the cars “not fun to drive”.He called the system “anti-racing” and compared it to “Formula E on steroids”.He again warned he could leave the sport if he stops enjoying it. Lewis Hamilton voiced similar concerns.He said the new technology is extremely complex.He argued fans will struggle to understand it.The 2026 rules introduce new engines, chassis, tyres and sustainable fuel.Power now comes almost equally from combustion and electric systems. Testing times gave few reliable performance clues.Mercedes topped the times with Kimi Antonelli and…
