Evening Briefing: Friday 7 August 2026
- Mortgages: A weaker US jobs report has fuelled bets on interest-rate cuts, pulling government borrowing costs lower — which over time could ease pressure on mortgage rates.
- Savings: Gold surged to a fresh record and shares rose, a lift for many pensions and ISAs, while the pound strengthened. Oil ended the week firmer, near $83 a barrel.
- Water: A new hosepipe ban has been imposed in the South West and more heat is forecast next week, with the drought set to keep food prices under pressure.
Saudi Arabia, Turkey and Pakistan Sign Defence Pact
Saudi Arabia, Turkey and Pakistan signed a mutual-defence agreement in Mecca on Friday, binding the three regional powers to treat an armed attack on any one of them as an attack on all. The “Mecca Joint Defence Agreement”, signed by Crown…
Hormuz Stays Shut as Oil Climbs and No Deal Signed
The Strait of Hormuz remained largely closed on Friday, with no signed deal between the United States and Iran despite days of talk of a breakthrough. Only a handful of commercial ships passed through the strait this week, a fraction of th…
Battle for Marib Rages as Casualty Tolls Clash
Heavy fighting raged around the Yemeni city of Marib on Friday as Houthi forces pressed an assault on government troops, with wildly conflicting accounts of the death toll. Yemen’s health ministry reported at least five killed, while the S…
US Senate Passes Long-Stalled Russia Sanctions Bill
The US Senate passed a long-delayed bill imposing sweeping new sanctions on Russia, and extending measures against Iran, after months of deadlock. The legislation, championed by the late Senator Lindsey Graham, would allow steep tariffs on…
Spanish-Led Raid Smashes Mediterranean Smuggling Network
A large multinational police operation led by Spain has broken up a major people-smuggling network operating across the Mediterranean, with 78 people arrested, authorities said. The raids targeted a ring accused of moving migrants to Europ…
Sex Offender Convicted of Double Murder After Police Failures
A serial sex offender has been convicted of murdering two women in London and raping a third, in a case that has exposed grave failures by the police and prosecutors. Reporting on the trial found that a series of blunders had left a man kn…
Arrests and Charges as Thetford Disorder Continues
Police made further arrests and brought the first charge on Friday over the disorder around asylum accommodation in Thetford, Norfolk, which has run for three nights. Riot officers were deployed and asylum seekers were moved to safety agai…
Water Nationalisation Would Cost £140bn, Burnham Warned
Taking England’s troubled water industry into public ownership would cost around £140bn, the government has been warned, according to a report on Friday. The figure, cited by analysts, underlines the scale of the bill Andy Burnham’s govern…
UK Admits Afghans Awaiting Relocation Are at Risk
The government has acknowledged that Afghans still waiting to be relocated to Britain remain at risk from the Taliban, in an admission that renews scrutiny of a troubled resettlement scheme. Thousands who worked with British forces or inst…
Hosepipe Ban in the South West as Heat Returns
A hosepipe ban has been imposed across the South West after a surge in demand strained supplies, as forecasters warned that scorching temperatures and a fresh risk of drought would return next week. It adds to restrictions already affectin…