Author: OMN AI

European Industries Warn of Growing Market Disruption A surge in Chinese imports is unsettling manufacturers across Europe, with companies warning that an oversupply of cheap goods is distorting competition. The influx, partly triggered by U.S. trade barriers that redirected exports toward Europe, has left domestic producers in sectors such as renewable energy, metals, and consumer electronics struggling to stay afloat. Industry representatives argue that the imbalance threatens the future of European production and jobs. Rising Pressure on EU Leaders to Respond Political and economic pressure is mounting on Brussels to take action. Several European governments have urged the European Commission…

US President Donald Trump will meet Chinese leader Xi Jinping in South Korea on 30 October. The White House confirmed the meeting, which will take place on the sidelines of a major regional summit. The encounter has been planned for weeks, but rising tensions between Washington and Beijing almost derailed it. It will be the first in-person meeting between the two leaders since Trump’s return to office. Trump has threatened to impose a 100% tariff on Chinese goods in November if Beijing does not relax its export restrictions on rare earth materials. White House finalizes details for summit meeting White…

Two Russian military aircraft entered Lithuania’s airspace for about 18 seconds on Thursday, the Lithuanian military reported. Officials identified the planes as an Su-30 fighter jet and an Il-78 refuelling tanker. They appeared to conduct a refuelling exercise when they crossed from Russia’s Kaliningrad region into NATO territory around 1600 CET. Spanish Eurofighter Typhoon jets from NATO’s Baltic Air Police immediately scrambled and began patrolling the area. Lithuania’s President Gitanas Nausėda condemned the intrusion on X, calling it a “blatant breach of international law and territorial integrity.” In a video statement, he said, “I strongly condemn the violation of Lithuanian…

The weight-loss drug semaglutide — best known under the brand name Wegovy — significantly lowers the risk of heart attacks and strokes, even in patients who do not lose much weight, according to a major international study published in The Lancet. Researchers from University College London analysed data from more than 17,600 adults across 41 countries who were overweight or obese. Half received weekly semaglutide injections, while the others were given a placebo. The study found that those taking semaglutide had a 20% lower risk of major cardiovascular events, such as heart attack, stroke, or heart-related death — regardless of…

Meta, the parent of Facebook and Instagram, is cutting 600 jobs in its AI division, US media reported. The company confirmed on Wednesday that it will remove around 600 roles in artificial intelligence while continuing to recruit for its superintelligence lab. Axios revealed the layoffs, which target Meta’s Fundamental AI Research (FAIR) unit, along with product-related AI and AI infrastructure teams. FAIR Unit Faces Major Layoffs The company’s newer TBD Lab will remain unaffected. Axios, citing a memo from chief AI officer Alexandr Wang, said Meta urges affected workers to apply for other internal positions. Most displaced employees are expected…

Tesla achieved its highest-ever quarterly revenue, yet profits fell sharply. Rising tariffs, research costs, and strong competition pressured the company’s earnings despite robust sales. Revenue climbs, profits slide In the quarter ending September, Tesla reported $28 billion (£21 billion) in revenue, a 12% increase from last year. Profit, however, dropped 37% due to higher tariffs and expanding research and development expenses. Investors responded cautiously. Tesla shares fell 3.8% in after-hours trading following the results. Still, the company maintains a market value of around $1.4 trillion, driven by confidence in Elon Musk’s AI and robotics ambitions. Tax credit rush drives US…

New Measures Tighten Pressure on Russia’s Energy and Finance Sectors The European Union has adopted its 19th package of sanctions against Russia, escalating economic pressure over the ongoing war in Ukraine. The latest measures expand restrictions on Russian financial institutions, shipping operations, and technology exports. EU officials say the sanctions also target Moscow’s “shadow fleet” of tankers used to evade previous oil embargoes, as well as several cryptocurrency exchanges linked to sanctioned entities. Ban on Russian LNG Marks Major Energy Shift A key element of the new package is a phased ban on imports of Russian liquefied natural gas. The…

Airbus has inaugurated a second jet assembly line in Tianjin, China, as part of its plan to boost production of the A320neo aircraft. The new facility is a key step in the company’s strategy to increase monthly output from 60 to 75 aircraft by 2027. The Tianjin expansion is expected to be fully operational by early 2026, allowing Airbus to meet growing demand for single-aisle jets in Asia and other global markets. The additional production capacity is aimed at supporting airlines seeking modern, fuel-efficient aircraft. Airbus executives emphasized that the new assembly line will enhance efficiency and strengthen the company’s…

A major UK study has found that different antidepressants can vary significantly in their side-effects, including changes in weight, heart rate, and blood pressure. Researchers from King’s College London and the University of Oxford analysed data from 151 clinical trials involving more than 58,000 participants who took 30 different antidepressants. They discovered that some medications can lead to noticeable physical changes within just two months of use. For instance, the drug maprotiline was linked to an average 2kg weight gain, while agomelatine was associated with an average 2.5kg weight loss — a 4kg difference overall. Nearly half of patients taking…

Donald Trump said he did not want a “wasted meeting” after plans for direct talks with Russian President Vladimir Putin about the war in Ukraine were suspended. Speaking at the White House on Tuesday, the US president said Moscow’s refusal to halt fighting along the current front line remained the key obstacle to peace. White House drops plans for Budapest summit A White House official confirmed there were “no plans” for a Trump-Putin meeting “in the immediate future.” The statement came only days after Trump had announced that both leaders would meet in Budapest within two weeks. This week exposed…