Evening Briefing: Friday 24 July 2026
- Petrol & Prices: Oil fell back below $100 a barrel on Friday, easing the immediate inflation scare, though pump prices remain elevated after this week’s spike. The Bank of England sets interest rates on 30 July.
- Your Money: Reassuring UK data — a jump in retail sales and stronger business activity — lifted the FTSE and steadied borrowing costs, with markets still expecting the Bank to hold rates next week.
- Pubs & the High Street: Business rates for pubs, clubs and music venues will be cut by 20 per cent, worth around £100m, funded by a planned levy on large online retailers — part of the government’s cost-of-living push.
Spain Declares Emergency as Wildfires Force Tens of Thousands to Flee
Spain declared a national emergency on Friday as wildfires raged across the country, while on the French Atlantic coast fresh mass evacuations drove holidaymakers from their homes — some fleeing by boat. Together the fires in Spain and sou…
Iran Strikes US Gulf Bases as Trump Weighs a Bigger Attack
Iran launched retaliatory strikes on Friday against American military targets in the Gulf, including the Al-Azraq air base in Jordan, as Bahrain and Kuwait reported intercepting Iranian missiles. President Trump said he was “close to makin…
Oil Retreats Below $100 as the War-Risk Premium Unwinds
Brent crude fell back below $100 a barrel on Friday, sliding around 4 per cent to roughly $96, as traders unwound part of the war-risk premium that had driven it above $100 on Thursday for the first time in two months. The pullback offered…
Russian Strike on a Kyiv Event Kills 10 as Both Sides Trade Blows
A Russian missile strike on a defence-industry gathering in the Kyiv region killed at least ten people and wounded more than a hundred on Friday, Ukrainian officials said, in one of the deadliest attacks of recent weeks. Ukraine struck bac…
Six Killed in West Bank Gunfight as Israel Raids Nablus
Six people were killed in a gun battle in the occupied West Bank on Friday, among them four Palestinians and two Israeli soldiers, after which Israel launched a wide operation around Nablus. The clash, near the village of Tell, was followe…
Burnham Launches ‘Number 10 North’ in Manchester
Andy Burnham marked the end of his first week as Prime Minister by launching “Number 10 North”, relocating devolution and local-growth policy functions to Manchester. Working from an interim headquarters in the city, Mr Burnham called it “…
Burnham Cuts Business Rates for Pubs and Music Venues
The government has announced a 20 per cent cut in business rates for pubs, clubs and grassroots music venues across England, a package worth around £100m, in its latest high-street and cost-of-living measure. Ministers indicated the relief…
FTSE Rebounds and Gilts Steady as the Oil Panic Fades
London’s FTSE 100 recovered on Friday, rising around 0.7 per cent to about 10,710, as oil’s retreat from $100 eased the previous day’s inflation scare. Banks led the gains, with HSBC among the risers, while government bond yields dipped an…
Business Activity Hits a Three-Month High, Survey Shows
British private-sector activity grew at its fastest pace in three months in July, a closely watched business survey indicated on Friday, a further sign that the economy is holding up. The S&P Global flash survey pointed to the first expans…
Ministers Pressed to Award £2.4bn Satellite Deal to Airbus
The government is under pressure to award a £2.4bn military satellite contract to Airbus rather than an American rival, in a decision that pits industrial sovereignty against the transatlantic relationship, according to reporting on Friday…