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Brussels Weighs Tougher Energy Measures The European Union is prepared to move ahead with a sweeping ban on maritime services for Russian oil tankers, even if G7 partners fail to agree on a coordinated approach. Valdis Dombrovskis said a joint decision with the G7 would be preferable, but stressed it was not essential. Brussels is aiming to have its 20th sanctions package approved by 24 February, marking four years since Russia’s full-scale invasion of Ukraine. If adopted, the proposal would effectively end the G7 price cap on Russian oil within EU jurisdiction by prohibiting European companies from servicing Russian tankers…
Senior UK bank executives will meet this week to begin creating a domestic card payments system.The project aims to reduce reliance on the US networks Visa and Mastercard. The meeting will be chaired by Vim Maru of Barclays.City investors will fund the new company, known as DeliveryCo, with government backing.The system could be operational by 2030. About 95% of UK card payments currently run through Visa and Mastercard.Executives warn that losing access would severely disrupt the economy as cash use declines.Sanctions that shut the networks in Russia showed how quickly consumers can be cut off from funds. Concerns have grown…
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 Seeks Sanctions Relief While US Expands Negotiation…
Volkswagen aims to cut costs by 20% by 2028 as it reshapes the business for a tougher market.Reports say plant closures are possible, although no locations are confirmed. Chief executive Oliver Blume and finance chief Arno Antlitz presented the savings plan to senior managers.The company faces declining sales, high costs and growing pressure from Chinese carmakers in Europe. An earlier restructuring already included 35,000 job cuts by 2030 and a €10bn savings target.Volkswagen says previous measures have produced double-digit billion-euro savings and helped absorb tariff impacts. The push comes as the EU trade deficit with China continues to widen and…
Trump’s Support Delivered in Person U.S. Secretary of State Marco Rubio brought a clear message to Budapest: the Trump administration stands firmly behind Hungarian Prime Minister Viktor Orbán ahead of Hungary’s April elections. Speaking after the Munich Security Conference, Rubio praised Orbán’s close relationship with U.S. President Donald Trump, saying their personal connection had strengthened ties between the two countries. He made it explicit that Trump wants Orbán to remain in office, arguing that Hungary’s success aligns with American interests. Rubio also pointed to Hungary’s recent one-year exemption from U.S. sanctions on importers of Russian oil, suggesting it was made…
Big Tech companies are racing ahead in 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 detailed their 2026 spending plans. Analysts confirmed these projections and stressed 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, exceeding Sweden’s nominal GDP for 2025, according to IMF estimates. Global chip sales are expected to reach one trillion dollars for the first…
Competing Visions of the West This year’s Munich Security Conference brought together senior officials from the United States, Ukraine and across Europe, but beneath the formal speeches was a deeper tension: sharply different views about what the West represents — and where it is headed. U.S. Secretary of State Marco Rubio urged European leaders to help “save” what he described as a shared civilisation. He argued that America has no interest in managing what he called the West’s gradual decline and warned against defending a broken status quo. While his tone was less confrontational than last year’s address by Vice-President…
Daily weight-loss tablets are widening the race between major drugmakers and bringing the treatments to new patients.The pills work like the injections by mimicking the appetite hormone GLP-1, but they are easier to take and cheaper to store and distribute.Analysts believe the global market could reach about $200bn within the next decade. Novo Nordisk has launched the first oral version of Wegovy in the United States, with strong early demand.Rival Eli Lilly is preparing its own pill, which may be simpler to absorb and use.Tablets are expected to attract people who avoid injections and those who cannot afford them. Patients…
Real estate investor confidence remains positive as recent surveys show expectations for stable or improving market conditions in 2026. Analysts say this optimism reflects steady demand, moderate price trends, and the outlook for sustainable growth across key markets. Investors are particularly encouraged by slower price increases, which allow for more predictable returns and reduced market volatility. With housing markets stabilizing in several regions, investors can plan acquisitions and developments with greater certainty. The survey indicates that both residential and commercial real estate sectors are expected to perform steadily over the next year. Analysts highlight that investors are monitoring regions with…
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 immediate 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 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…