Evening Briefing: Wednesday 19 August 2026
- Oil and prices: The UAE cut off all trade with Iran and Brent crude rose above $92, so the risk premium keeping petrol and energy prices high is not fading. A prolonged Gulf standoff would feed straight into the cost of fuel and much else.
- Savings and mortgages: Gold jumped 3.5 per cent to around $4,489 and Bitcoin rallied 5 per cent after the US Treasury moved to calm the bond market, reversing the morning’s sell-off. UK borrowing costs eased slightly, a small relief for anyone remortgaging.
- Crypto tax: HMRC has sent 81,000 warning letters to cryptocurrency holders who may owe capital gains tax, including on swaps between coins. If you have sold or exchanged crypto, you may need to declare it or risk a fine.
UAE Halts All Trade With Iran Over Missile Strike
The United Arab Emirates has halted all trade, commercial and financial dealings with Iran indefinitely, a dramatic escalation after it accused Tehran of firing two ballistic missiles at its territory. Dubai has quietly become Iran’s most…
Israeli Strikes Kill Gazans as Ceasefire Push Falters
At least 10 Palestinians were killed in Israeli strikes across Gaza on Wednesday, hospitals and the Palestinian Red Crescent said, two days after US negotiators urged Israel to scale back its attacks. Israeli troops also crossed the ceasef…
Ukraine Approves New Defence Minister Amid Reshuffle Crisis
Ukraine’s parliament approved Yevhenii Khmara as defence minister, with 312 votes, filling a post left vacant since the popular Mykhailo Fedorov was ousted in July. Mr Khmara, a special-forces major general, had served as acting minister a…
Trump Pauses 50% Canada Tariffs, Citing a Deal
President Trump paused threatened 50 per cent tariffs on Canadian goods for three days, about 90 minutes before they were due to take effect, saying the two sides had reached a deal in principle. The tariffs would have hit dozens of produc…
Up to 100 Feared Dead in Central African Gold-Mine Collapse
As many as 100 people are feared dead after an illegal gold mine collapsed in the Central African Republic, officials and local sources said, though only about 30 bodies had been recovered by Wednesday and authorities cautioned that the to…
Home Office Issues Conduct Guide for Asylum Seekers
The Home Office has published a guide setting out how asylum seekers are expected to behave while living in the UK, covering respect in public, sex and consent, gender equality and domestic abuse. The nine-page booklet, “Understanding beha…
Watchdog Probes Trainline and Virgin Atlantic Over Hidden Fees
The competition watchdog opened investigations into Trainline, Virgin Atlantic Holidays and a driving school over “drip pricing”, where mandatory fees are added late in the booking process. The Competition and Markets Authority pointed to…
HMRC Sends 81,000 Crypto Tax Warning Letters
HM Revenue and Customs sent more than 81,000 letters over the past year warning cryptocurrency holders they may owe capital gains tax, a figure that has almost tripled since 2024, according to figures obtained by the BBC. Investors risk fi…
UK House-Price Growth Halves to 2% as Market Cools
Annual house-price growth in the UK slowed to 2 per cent in the year to June, down sharply from 3 per cent the month before, official figures showed, leaving the average home at £272,000. Prices barely moved over the month. The North West…
Northern Ireland to Name New Health Minister Thursday
Northern Ireland is to get a new health minister on Thursday, replacing Mike Nesbitt, after a row over the withdrawal of emergency surgery from Causeway Hospital. Jon Burrows, of the Ulster Unionists, said the job needed someone with the “…