Evening Briefing: Monday 3 August 2026
- Petrol: Oil held its sharp fall, closing around $84 a barrel after the Iran strike was called off — a drop that should feed through to cheaper petrol in the coming weeks, though Iran denies any deal.
- Mortgages: Government borrowing costs stayed lower, with the 10-year gilt yield around 4.95 per cent, as cheaper oil eased inflation fears — which could ease pressure on mortgage rates over time.
- Heat: Temperatures neared 35C today under amber alerts, with thunderstorms forecast later in the week. The drought and heat continue to threaten crops and food prices.
Iran Says It Is Not Negotiating With Washington
Iran declared on Monday that it was not in any direct negotiations with the United States, flatly contradicting President Trump’s claim that talks would begin. A foreign-ministry spokesman said Iran was speaking only to Oman, about a possi…
Israel Rules Out Gaza Pullback as Peace Plan Wobbles
Israel said it would not pull its forces back from their current positions in Gaza, escalating its attacks and hardening its demands in a way that put President Trump’s peace plan under fresh strain. Far-right ministers pressed Mr Netanyah…
Ukraine Reports Record Russian Missile Barrage
Russia fired a record number of missiles at Ukraine in July — more than 380 — Ukrainian officials said, as Kyiv warned of growing gaps in its air defences. The disclosure underlined the intensity of a long-range campaign that has battered…
Record-Low Danube Threatens Eastern Europe's Power
Record-low water levels on the Danube are pushing several Eastern European countries towards an energy crunch, as the river’s dwindling flow cuts hydroelectric output and hampers the shipping of coal and fuel. The great waterway, a lifelin…
Thousands Flee into Sudan After Border Clashes
Thousands of people have fled across the border into Sudan to escape deadly violence in the frontier region between Ethiopia and its northern Tigray area, aid agencies said. The influx adds to the strain on a country already gripped by its…
Farage's Navy Plan Draws Anger at Home and Abroad
Nigel Farage’s plan to deploy the Royal Navy to turn back Channel migrants drew sharp criticism at home and abroad on Monday, with France condemning the proposal and legal experts questioning its lawfulness. Paris hit out at the idea of re…
Apple Challenges UK Over Access to Encrypted Data
Apple has launched a legal challenge against the British government’s attempt to gain access to its users’ encrypted data, in a clash over privacy and security. The technology giant is contesting a government demand that it argues would un…
UK Factory Output Picks Up as Tariff Fears Ease
British manufacturing grew at a faster pace last month, a closely watched survey showed, as the uncertainty over American tariffs that had weighed on industry began to lift. The improvement offered a rare piece of encouraging economic news…
Reform's Tice Faces Standards Investigation
The parliamentary standards watchdog has opened an investigation into Richard Tice, the deputy leader of Reform UK, over an alleged failure to declare an interest. The inquiry, reported to be linked to a debate on Israel, landed on a day R…
Amber Alerts as Heat Nears 35C, Storms Loom
Amber heat-health alerts covered most of England on Monday as temperatures climbed towards 35C, with forecasters warning that thunderstorms could follow later in the week. The heat piled fresh strain on health services and transport, and c…