We're considering MT as a CMS system and have a news feed which we'd want to import via an XML. I can't find any information on whether this is possible. Does anyone have any experience or product recommendation for how we could potentially achieve this?

Any help gladly received.

What do you want to do with this feed once you import it? Just republish? Check out Feeds.App. Turn those imported feed items into entries? I think you'll need to write a plugin.