Author: OMN AI

AstraZeneca has halted its £200m expansion in Cambridge, leaving its £650m UK investment package on hold.The project, expected to create 1,000 jobs, joins the cancelled £450m vaccine facility in Merseyside.An AstraZeneca spokesperson said the company continually reassesses investment needs and provided no further comment.The pause contrasts with $50bn US investments, funding facilities in Virginia, Maryland, Massachusetts, California, Indiana, and Texas.Merck also scrapped a £1bn London research centre, laying off 125 scientists, further hitting UK life sciences.Sir John Bell warned other pharmaceutical giants may stop investing in the UK due to uncertainty.Sanofi called for a clear Treasury plan, pausing UK investments…

Washington, D.C., September 13, 2025 — As the year comes to an end, the U.S. economy is signaling slower growth. The Congressional Budget Office has revised its real GDP projection down to 1.4%, compared with an earlier estimate of 1.9%. Unemployment is expected to rise to 4.5%, and inflation could reach 3.1%, reflecting the effects of recent tariffs and stricter immigration regulations. Despite these concerns, the stock market has remained resilient, with the S&P 500 posting gains amid expectations that the Federal Reserve may lower interest rates. Government Policies Impact Economic Performance Recent policy measures are affecting the pace of…

A historic immigration raid at a Hyundai facility in Georgia will delay its opening by at least two months. The company confirmed the setback after hundreds of foreign workers were detained. raid escalates diplomatic tensions The raid has heightened strains between Washington and Seoul. Many of the detained workers were South Korean nationals. President Yoon warned the crackdown could discourage foreign investment in the United States. South Korean officials said the workers were sent temporarily to assist in launching the new plant. Hyundai chief executive José Muñoz told American media the raid will delay operations by two to three months…

The European Central Bank kept its deposit rate unchanged at 2% during Thursday’s monetary policy meeting.Other key rates were also held steady: main refinancing at 2.15% and marginal lending at 2.40%.The deposit rate has stayed at its lowest level in over two years following eight cuts since June 2024.ECB President Christine Lagarde said inflation is stabilizing around 2%, the bank’s medium-term target.Flash estimates showed prices rose 2.1% in August, after 2% readings in June and July.The EU-US trade deal provides more clarity, though the ECB has yet to assess its full impact.Political uncertainty in France and weak global demand remain…

US pharmaceutical giant Merck has cancelled its planned £1bn expansion in the UK. The company said the government is failing to provide enough support for the life sciences industry. The multinational, known in Europe as MSD, will move research to the US and cut jobs in Britain. Executives accused successive governments of undervaluing innovative medicines and vaccines. Industry experts warned the decision could discourage other global companies from investing in the UK. Government defends investment but acknowledges gaps A government spokesperson defended spending on science and research but admitted more needs to be done. Officials highlighted recent initiatives but recognised…

LONG BEACH, Calif. — A stack of cargo containers fell from a ship docked at the Port of Long Beach on Tuesday, forcing emergency crews to respond and temporarily suspending operations at the terminal. Officials said roughly 67 containers slipped or toppled from the vessel Mississippi while it was moored at Pier G. The incident occurred around midday, and no injuries were reported. A Unified Command, including the Port of Long Beach and the U.S. Coast Guard, coordinated efforts to secure the area and monitor potential environmental impacts. Pier G was closed temporarily as crews worked to stabilize the site.…

Oracle co-founder Larry Ellison became the world’s richest person after Oracle shares surged 40% in early trading.Ellison’s 41% stake is now valued at $393bn, slightly above Elon Musk’s $384bn, Bloomberg reports.The rise marks Oracle’s largest single-day increase and the biggest one-day wealth gain on Bloomberg’s index.Ellison, 81, also holds Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.He has a close relationship with Musk, serving on Tesla’s board and investing $1bn in Twitter.Musk frequently visits Ellison’s Hawaiian island, Lanai, highlighting their long-standing personal and professional ties.Both Ellison and Musk have connections to Donald Trump, though Musk’s…

Donald Trump is calling on the European Union to impose tariffs of up to 100 percent on China and India. He aims to increase pressure on Russian President Vladimir Putin and push toward ending the war in Ukraine. Trump pushes for stronger measures against Moscow The US president raised his demand during a meeting with EU officials on Tuesday. Both sides explored new ways to hit Russia’s economy harder. According to a source, Trump pressed for maximum tariffs targeting China and India. He had promised to end the conflict on the “first day” of his presidency. Peace talks between Moscow…

WASHINGTON, Sept 9 — The U.S. labor market showed signs of slowing in August, with job growth weakening sharply and the unemployment rate rising to its highest level in nearly four years, according to the latest report from the Bureau of Labor Statistics (BLS). Nonfarm payrolls rose by only 22,000 last month, a dramatic slowdown from the average monthly gains of 147,000 earlier this year. June’s employment figures were revised down to show a loss of 13,000 positions—the first decline since December 2020. Over the past four months, job creation has averaged just 27,000 per month, reflecting a notable cooling…

Apple will unveil its thinnest iPhone yet at Tuesday’s annual event in Cupertino.The iPhone 17 series will include standard, Pro, Pro Max, and the new iPhone Air.iPhone Air is expected to be Apple’s lightest flagship, inspired by its slim MacBook line.Apple will also introduce Apple Watch series 11 and upgraded AirPods earbuds.The new AirPods may feature live translation, similar to Google’s Pixel Buds.Apple plans to announce launch dates for iOS 26 and macOS Tahoe.Trump’s tariffs could increase iPhone costs and disrupt the global supply chain.Tim Cook moved production to India and shipped iPhones to the US to limit tariff effects.Investors…