UK News
Champions League reaction: Sid Lowe answers your questions – live | Champions League
Key events
Why have Spanish clubs slumped domestically despite strong showings in Europe?
trollercoaster asks: Why have so many Spanish clubs competing in the Champions League or European Cup been relegated? It happened with Real Betis and with Villarreal. We have seen leading Spanish clubs fall to the second division and even to lower leagues, see Deportivo.
Sid:
There are lots of elements at play here, and they are not all the same going back over time, as the structure of Spanish football has changed (collective TV deal, etc), while some clubs had their own specific issues (Depor’s success, built on money they didn’t really have, was what brought their fall, for example). The short-term reason for some teams – look at Athletic this season, for example – is that they don’t always have the resources for both competitions. There’s definitely a financial component to it. Villarreal’s relegation in 2012 was baffling but internally they had overspent – which is unlike them, a stable and financially strong club – although they did learn from that.
Look at the second division now and it is full of massive clubs (historically). Zaragoza are the really clear example … Sporting, Málaga, Depor, similar with Oviedo until last summer. Often laden with debt, often unready for the sudden fall off of income, etc …
Does the ‘curse of Sid Lowe’ still exist?
GUnit asks: Some years ago, us regular readers of your column had this running joke about the curse of Sid Lowe; ie whenever you’d write an article praising a team, they’d go and lose the next match. Would you say it’s broken now?
Sid:
I don’t know … I’m not sure that I feel that the people I bigged up (early) have started suffering better fates … have they? It might not have been that bad before. Or maybe it was, ha.
There’s a related issue here, actually, which is part of the daily battle … most pieces are on-demand, so to speak, (the desk asks about an issue or I suggest an issue or whatever), but on Mondays, the regular column linked to the weekend games, I more or less write what I want (over a 38-week season there might be three or four weeks when the desk suggests/wants a certain topic and I’m not totally mad: if it’s clásico weekend then very likely that will be the focus). Which is why you get Leganés or Levante.
Anyway, to the point: that means I am often “gambling” on a subject: which game to go to, where I think a story might be, who the overachievers are, whether I can afford to wait a few weeks to do them and so on … and so when I have written on say, aren’t Getafe amazing, and the week after they lose, well, usually I am happy about that and think thankfully I got it out when it was true, rather than missing the chance to write a good story by waiting and then next week it’s no longer true. Usually that outweighs the feeling of “ah bollocks, now I’ve cursed it and/or look stupid”. Not least, of course, because I won’t have written it in the first place if I didn’t really think so. Some weeks you have loads of topics to choose from; some weeks, in truth, you wake on Monday morning empty-handed and panicking.
Where is Viktor Onopko?
CarlosZ asks: Hi Sid, what became of Viktor Onopko?
Sid:
The one and only Viktor Onopko! What a player. He’s assistant coach of the Russian national team, I think.
I went to do a piece with the Spanish unemployed players team a few years ago and they played CSKA and he was there as assistant to Slutsky, if memory serves. I missed him post game, didn’t get the chance to speak to him and have regretted it ever since.
Who will be Real Madrid’s next manager?
KratosBeThyName asks: What’s next for Real Madrid? Arbeloa’s not gonna be there next season. Have you heard anything about who Pérez is targeting? (Not Klopp, I hope)
Sid:
He would love it to be Jürgen Klopp … which doesn’t mean it will be. I’m intrigued by this situation. We could be in for a long few months. And endless names.
I also think it needs more than just the change of name, it’s also about culture and power at the club. And the perception of a need to change that was already there, which is why the sacking of Xabi Alonso doesn’t only feel like a pity but also a missed opportunity. There is, I think, an irritation at his sacking that is not just about him as a coach but what he symbolised, what he was supposed to bring, and the fact that it was undermined by his authority effectively being removed. As for a name, someone like Mauricio Pochettino wouldn’t surprise me.
What are this season’s feelgood stories in Spain?
stooze asks: If you could choose one (or maybe two, three?) genuine feelgood stories from Spanish football this season – ones that virtually everyone in Spain would agree on – what would they be?
Sid:
Santi Cazorla, of course. (But maybe that is more last season than this, what with things not going quite so well now … ). Watching him get an ovation at every ground is lovely.
Vedat Muriqi: my word, he’s amazing. And everyone loves him. Top character too. I’m very, very close to considering him player of the year.
I would love to say Lamine Yamal as this incredible kid who might well be the best in the world and lead Spain to the World Cup, but of course that has not been as clear as it felt at the Euros (and even then there were some who resisted), when he felt more like he was everyone’s …
Is the Spanish press harsh on Atlético’s playing style?
Goatse asks: Has there ever been such loud, blanket, across-the-board outrage at Atlético’s playing style from both the Spanish media and from Spanish fans as there has been around Arsenal from the English media and other clubs’ fans for the past few months?
Sid:
Difficult to answer this because to be honest I’m not entirely sure about the UK media/societal/fan response to Arsenal. But, not being RM or FCB, having a defensive identity (previously, but it lingers here too), having a coach like Simeone, I would say that Atlético fans will feel that they have felt the finger of accusation pointing at them often as well … I’m not sure I would call it outrage, or across the board, but the accusation of anti-football, boring, etc … all that is there I guess.
It’s not all cliche of course, and cliches and stereotypes are often rooted in some truth. I remember an opposition coach coming past me after a game at Atlético once, years ago in fairness, and saying “Christ, they’re a horrible team, aren’t they?”
How will Atlético fare against Arsenal in the Champions League semis?
cordelspo asks: Do you think Atlético will trouble Arsenal? They were hammered 4-0 in the group stages; has anything changed since then to make you think there will be a different outcome?
And, on a similar theme, benjvj asks: Good morning Sid, greetings from Valencia. What are Arsenal’s chances in Madrid? Will the atmosphere be as wild as against Barcelona?
Sid:
Atlético have changed a lot since then … or sort of. Their title challenge, insofar as there was ever one, was over by Christmas really and there have been evolutions, shifts, changes in form. I think there’s a momentum and a clarity about them now that wasn’t there before. An obvious, if simplistic example: Antoine Griezmann and Koke were supposed to be getting phased out but are among the best and will play now. Griezmann is sensational. Marcos Llorente has been full-back and midfielder, and is a freak of nature.
It feels like every year there’s this almost existential debate about what Atlético are and at some point along the way they sort of find themselves. What they are not, by the way, is what so many people seem to think they are. “We attack better than we defend,” Diego Simeone says and he is right. In terms of the last Arsenal game and this one, I guess there’s the change in Arsenal themselves and also the very basic thing which is that it is a different context now than in the league phase.
Not having seen enough of Arsenal I am unsure, but I would probably lean towards them as favourites, and I’m intrigued to see the approach. Atlético and Barcelona have played six times this season and all of the games have been different. The atmosphere should be great, although maybe not quite at the level of the Barcelona game.
How has Spanish football evolved during your career?
proevpete asks: Hi Sid. How has La Liga and Spanish football more broadly changed since you started your reporting career? And how has the actual reporting of it changed in that time as well?
Sid:
There are loads of elements to this, not least as it’s a long time, and there have definitely been big shifts economically and so on, and obviously a lot of it is societal, which is being played out everywhere not just here.
I think some parts remain the same, the quality of the football, the taste for technique (in very broad terms, as there are a million caveats), lots of players coming through … you can see shifts in the national team of course: they were like England, the “big” team that never won and that has changed. Obviously, I think the big difference between Spain and elsewhere (well, England in this case), is the dominance of two teams … and yet that does not entirely eclipse the other clubs, some of which are very big, and I’m always very conscious of giving space and proper attention to the “other 18”. They often feel abandoned by Spanish media/society, I think. In terms of reporting, that’s central to it.
There’s immediacy now of course; I’m not pre-internet, but it has changed completely, the platforms and tools, etc. The content shift, which has been played out everywhere I think, but is much more accentuated here than anywhere else, is the increase of the shouty-confrontational stuff, which I find utterly tedious to be honest.
How did you get into all things Spain?
tpth asks: Sid! I’m a massive fan of both your writing and the country about which you write. I’m wondering how you learned to speak Spanish/how you came to develop such an affinity for Spanish culture – I feel like I read you did an exchange year at some point?
Sid:
Thank you. And hello everyone. Tea made, so I’m ready. (Which, erm, maybe undermines this first question/answer a bit).
I suppose the simple answer is: people. And, in truth, while I do think Spain is special and there are lots of very good reasons to believe it’s different, who knows, it might have worked out the same way if somehow I had ended up in Italy or France or Germany or wherever. The practical answer, which takes in the language and, from there, I guess the affinity, is that I did Spanish at school (as well as French).
There was a school exchange to Lorca, in Murcia, of all places. Tiny little town. This is 1990, I think. And I turned up with no Spanish at all. But the family were lovely, all the kids on the trip (including the English ones) were great, and I found myself suddenly thinking actually this isn’t so hard. The language, I mean. I came back and really through myself into it, reading in Spanish (kids books, nothing clever) and translating and stuff … then, to give the brief version, GCSE, A-level and my degree was Spanish and history. The history was the part that really drew me in I think. Third year of University was Erasmus year in Oviedo, which is a step again. Studied there. “Studied”, ahem. Played football too, although I then broke my ankle. Which was all part of it.
Again: people. I did a Masters and PhD in Spanish political history which brought me back, this time to Madrid. I am, in part, an accidental journalist. And then I don’t know really, I guess it’s just being here and enjoying it, having an interest. In truth at times now, at my old age, busy with work and stuff, I sometimes feel like I don’t get as culturally engaged and immersed as I might/should, but it is true that the writing about football is always about society and people too for me and means engaging with all those kind of questions as well.
Welcome
Sid Lowe is the Guardian’s Spanish football correspondent, based in Madrid, and has been covering an increasingly busy beat for years. And after a busy week of action in the Champions League, La Liga and beyond, post your questions below the line; he’ll answer as many as he can from 12pm BST.
In the meantime, here’s his report from Madrid, where Atlético knocked Barcelona out of the quarter-finals, plus Andy Hunter’s dispatch from PSG’s win over Liverpool.
And after another dramatic night on Wednesday, here’s Nick Ames on a classic in Munich, where Bayern knocked out Real Madrid, plus Barney Ronay on Arsenal squeezing past Sporting.
UK News
European stock markets hit record high and oil price falls to three-month low after US-Iran peace deal – business live | Business
European stock markets hit record high
European stock markets have hit a record high at the start of trading, as relief over the US-Iran peace deal ripples across global markets.
The pan-European Stoxx 600 index has jumped by 0.9% to 639 points, over the previous record high set just before the Iran war started, with shares rising in London, Frankfurt, Paris, Madrid and Milan.
Mining and travel companies are driving the rally, while oil company shares are sliding.
That follows sharp gains in Asia-Pacific markets overnight, where Japan’s Nikkei surged by 5% on hopes that the strait of Hormuz will reopen within days.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, says global equity markets are starting the week firmly on the front foot after President Trump announced that a deal with Iran had been reached, adding:
The move has given investors a clear reason to dial back some of the geopolitical risk premium that has hung over markets, especially as the Strait of Hormuz is expected to reopen and oil prices move sharply lower.
Energy prices have been one of the clearest transmission channels from Middle East tensions into inflation, bond yields and equity sentiment, and there is likely to be a concerted effort to get prices down even further once this deal is finalised.
There are still details to be ironed out before markets can fully trust the agreement, but for now the direction of travel is clear: lower oil, calmer nerves and a renewed appetite for risk.
Key events
Peace deal should keep mortgage rates down
Mortgage borrowers can breathe a sigh of relief at the news of a peace deal in Iran, says Adam French, head of consumer finance at Moneyfactscompare.co.uk.
While we are far from being out of the woods yet, a lasting peace deal should dramatically reduce the risk of the Bank of England’s worst-case scenario for inflation and interest rates becoming a reality.
“Under that scenario, Base Rate could have risen to 5.25%, potentially pushing typical rates on new mortgages towards 6.75%. Instead, today’s news means mortgages rates, which have already been slowly falling for several weeks, have likely already passed their peak – at least until the next unwelcome crisis.
“Borrowers can be optimistic but with a word of caution, as inflation and economic data will continue to influence the outlook. However, a lasting peace should remove one of the biggest risks to mortgage costs and may help restore a more stable environment for hard-pressed remortgage borrowers and prospective buyers.”
Even before this morning’s drop in UK bond yields (see earlier post), average mortgage rates have dipped slightly.
Moneyfacts reports:
-
The average 2-year fixed residential mortgage rate today is 5.61%. This is down from 5.62% the previous working day.
-
The average 5-year fixed residential mortgage rate today is 5.58%. This is down from 5.59% the previous working day.
Why it may take months for oil flows to return to normal
Donald Trump excitedly declared: “Ships of the World, start your engines. Let the oil flow!” last night, but the reality is that it will take some time for oil flows through the strait of Hormuz to return to pre-war levels.
One reason is that many oil tankers are simply in the wrong place, after the long closure of the strait.
Another is that some production and refining facilities have been damaged by the conflict, while others were mothballed after storate facilities filled up to the brim.
A third factor is that insurers could still be wary of the conflict reigniting, and price their cover accordingly.
Neil Shearing, group chief economist at Capital Economics, explains:
Even if ships now have safe passage, tankers are in the wrong place, oil production/refining facilities need to get up to full capacity, and questions over the cost and availability of insurance for ships traversing the Strait will remain.
Our current working assumption is that ~80% of energy flows will resume by the end of Q3. Natural gas flows will be slower to return, following the damage to Qatari facilities earlier in the conflict, which according to local officials has put 17% of production offline for two to three years.
US crude drops below $80
US crude oil has dropped to its lowest level since the second week of the Iran war.
The cost of a barrel of West Texas Intermediate (WTI) light sweet crude has dropped by 6% today to $79.72 per barrel, the first time since 10 March that it has been under $80/barrel.
That could help to pull down US gasoline prices, which climbed after the conflict began, hitting consumer confidence.
UK bond yields fall
Today’s relief rally is also driving up government bond prices, pushing down the cost of borrowing.
The yield (or interest rate) on 10-year UK government debt has dropped by 6.5 basis points (0.065 of a percentage point) to 4.775%.
Two-year bond yields are down 8bps to 4.16%.
Lower bond yields indicate that that the cost of issuing new government debt has fallen, which will be a relief for the UK Treasury after the Iran war drove up borrowing costs.
Copper mining company Antofagasta is now the top riser on the FTSE 100, up almost 8%.
Trader will be concluding that an end to the Iran war will boost the world economy, leading to more demand for raw materials such as copper.
European stock markets hit record high
European stock markets have hit a record high at the start of trading, as relief over the US-Iran peace deal ripples across global markets.
The pan-European Stoxx 600 index has jumped by 0.9% to 639 points, over the previous record high set just before the Iran war started, with shares rising in London, Frankfurt, Paris, Madrid and Milan.
Mining and travel companies are driving the rally, while oil company shares are sliding.
That follows sharp gains in Asia-Pacific markets overnight, where Japan’s Nikkei surged by 5% on hopes that the strait of Hormuz will reopen within days.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, says global equity markets are starting the week firmly on the front foot after President Trump announced that a deal with Iran had been reached, adding:
The move has given investors a clear reason to dial back some of the geopolitical risk premium that has hung over markets, especially as the Strait of Hormuz is expected to reopen and oil prices move sharply lower.
Energy prices have been one of the clearest transmission channels from Middle East tensions into inflation, bond yields and equity sentiment, and there is likely to be a concerted effort to get prices down even further once this deal is finalised.
There are still details to be ironed out before markets can fully trust the agreement, but for now the direction of travel is clear: lower oil, calmer nerves and a renewed appetite for risk.
BP and Shell’s shares slide
Shares in oil companies are falling, though – BP and Shell are both down 3.7%, as investors anticipate an end to their earnngs boost from the Iran war.
FTSE 100 index hits eight-week high
Boom! Britain’s stock market has hit a near-two month high at the start of trading, as investors welcome the breakthrough between the US and Iran to end the Middle East conflict.
The FTSE 100 blue-chip share index has jumped by 99 points, or almost 1%, at the start of trading to 10,570 points, its highest level since 21 April.
Engineering firm Rolls-Royce, which makes and services jet engines, is the top riser on the FTSE 100, up 5.5%, followed by British Airways parent company IAG, up 4.8%.
UK house prices dip in June

Gwyn Topham
Two bits of good news for Britons who don’t own their homes have been revealed, with data showing a drop in house prices in June as well as fewer tenants facing rent hikes last month.
Figures from Rightmove showed the average price of property coming on the to market fell by 0.6% or £2,113 to £376,191, the biggest June fall in fourteen years, with prices 0.5% below this time in 2025. The biggest drops were seen in southern England and Wales, and in asking prices for flats rather than houses.
The property site said the number of homes for sale was still at historically high levels for summer, making it more of a buyer’s market. Mortgage affordability has also improved slightly this month, with the average two-year fixed rate deal dropping about 0.1 percentage points to 5.07%, it said.
Meanwhile, figures suggest that the introduction of the Renters Right Act may already be seeing results in terms of keeping rents down for tenants.
The new law came into force at the start of May and means landlords can only increase rents for sitting tenants once a year. According to Hamptons monthly lettings index, the number of tenants who saw their rent rise was down 23% from the same month last year. Hamptons said if the rest of the year saw similar change, it would expect only 31% of sitting tenants to face increases, compared to 40%-50% in previous years.
However, the agency warned that rent rises in Scotland, where landlords have been operating under a similar system for longer, exceeded the national average. Sitting tenants who faced rent rises had an average increase of 5.4% in May, but the figure reached 7.7% in Scotland, albeit for a lower absolute rent – £952 – than the Great Britain average of £1375.
Speaking of the ECB, their president Christine Lagarde has been warning that inflation pressures are spreading in the euro area.
In an intervew with broadcaster France Culture, Lagarde warned that high energy prices are starting to feed through to other parts of the economy, saying:
“Indirect effects of inflation, we have absolutely started to see that more or less everywhere in recent weeks.”
The US-Iran agreement is well-timed for the Bank of England, which is due to set UK interest rates on Thursday.
If the strait of Hormuz does reopen, and oil flows return towards pre-war levels, there will be less inflationary pressure – and thus less need for interest rate rises.
The European Central Bank raised its interest rates last week, but this week is the turn of the BoE, the US Federal Reserve and the Bank of Japan.
Kathleen Brooks, research director at XTB, says:
Over the past month, the price of oil is down by more than a fifth, and the Brent crude price is now back at levels from early March. This is good news for inflation, which should start tumbling monthly from June, and it could ease concerns about price pressures as we lead up to some major central bank action this week. The decline in the oil price also raises questions about whether the ECB was too hasty in raising rates last week.
European stock markets are on track to jump when trading begins, in just over 20 minutes.
Germany’s DAX share index is up 1.65% in the futures market, Reuters reports, with the UK’s FTSE 100 0.75% higher.
The US dollar is weakening, as investors shift into riskier currencies.
The pound is its highest in over a week, at $1.3438.
Markets rally across Asia
There are strong gains across Asia-Pacific markets today, as investors welcome the deal between the US and Iran.
Japan’s Nikkei share index has leapt by 5%, as has South Korea’s KOSPI, while China’s CSI300 index is 1.9% higher.
Jim Reid, market strategist at Deutsche Bank, says:
Whilst the deal is very good news for markets it looks like tough conversations will have occur in the 60-day window to ensure the peace is sustainable. As an example, the Senate needs to approve any extensive sanction relief for Iran.
For now the can kicking exercise has been very well received by markets even after a strong US close on Friday where hopes were raised of a weekend signing
Introduction: Oil falls to three-month low
Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.
The peace deal agreed between Iran and the US is sending a wave of relief through the markets today.
Oil has tumbled 4%, and markets across the Asia-Pacific region have jumped, as investors anticipate the reopening of the strait of Hormuz.
Although it is unclear exactly what has been agreed – with the final text of their memorandum of understanding unpublished – Donald Trump’s claim that “oil will flow on both ends again for the region, and the world” is pushing down energy prices – a relief for busineses, consumers, politicians and central bankers alike.
Brent crude has fallen as low as $83.04, its lowest since 10 March, after the prime minister of Pakistan announced the US and Iran will sign a memorandum of understanding in Switzerland on Friday.
That still leaves Brent above its pre-war price of $72.48 a barrel, though.
Trump has indicated that the opening of the strait is contingent upon the signing of the peace deal, scheduled for Friday.
Iran’s Mehr state news, though, reported that the agreed memorandum of understanding calls for the reopening of the strait within 30 days under “Iranian arrangements” – an indication that Tehran hasn’t surrendered its control of the waterway.
Chris Weston of IG points out that there are still obstacles to overcome:
The probable reopening of the Strait of Hormuz later this week would represent a significant positive development. Markets had increasingly questioned how long inventory draws could offset supply disruptions and whether physical dislocations would begin weighing more heavily on risk assets. The focus now shifts towards understanding what normalisation of logistics could realistically look like, and how quickly shipping volumes can return to pre-conflict levels of 120 to 140 commercial vessels transiting eastbound and westbound each day.
There are still obstacles to overcome. Mines may need to be cleared, and there may be structural damage to refineries and export facilities around the region that will take time to repair and come back to pre-conflict capacity.
The agenda
UK News
Roy Hattersley, former Labour deputy leader, dies aged 93
Paying tribute, Sir Keir Starmer said Lord Hattersley “was a giant of the Labour movement”.
Source link
UK News
A £350 swimming pool fee ruined our easyJet holiday | Consumer rights
My partner and I paid £2,150 for a week’s all-inclusive break in Marrakech with easyJet Holidays.
We chose the Jaal Riad Resort Hotel because of its pool and spa. When we arrived, we were told that use of the heated pool cost £24 a person an hour, the Jacuzzi £24 for 20 minutes, and the hammam was £16 for 20 minutes.
Nowhere were these extra fees listed when booking. EasyJet Holidays rejected my complaint and referred me to a line buried at the bottom of the list of facilities that said charges may apply. We were planning on using the pool regularly but could not afford it. If we had known, we would have booked elsewhere.
DP, Cambridgeshire
Hidden charges can hugely inflate the cost of holidays. Resort fees are the most pernicious – some hotels charge up to £50 a person a day for facilities whether or not they are used.
Then there’s the daily tourist tax levied via the accommodation provider during the stay in some countries, and ancillary fees for upgraded wifi for sun loungers.
EasyJet Holidays makes a big deal of the pool – it’s a prominent photo on the webpage for the hotel.
No asterisk refers potential bookers to the crucial caveat that a couple, wishing to avail themselves once a day during a week’s stay, would have to pay almost £350 extra.
Even the eagle-eyed who alighted on the paragraph of small print at the bottom of the page, would be none the wiser.
Only after declaring that the facilities are subject to height and weight restrictions, seasonal availability, opening times, and age and dress code, does it mention that they “may” attract additional charges. These are not listed.
This is potentially unlawful, according to consumer lawyer Gary Rycroft.
“The facilities were prominently marketed as part of the holiday experience, and extra charges were not clearly disclosed before purchase,” he says. “Under the Digital Markets, Competition and Consumers (DMCC) Act 2024, businesses must not omit material information that would influence a consumer’s decision about whether to enter into a contract.”
EasyJet is defensive. “We always strive to make it clear that use of hotel facilities may incur additional charges,” it told me.
The company said then that it was reviewing the description to “further highlight that the use of the spa facilities is chargeable”, although, at the time of writing, three weeks later, the webpage remained unchanged. It has also now offered a £500 goodwill payment.
As the holiday season begins, you need to read the small print to avoid nasty surprises.
We welcome letters but cannot answer individually. Email us at consumer.champions@theguardian.com or write to Consumer Champions, Money, the Guardian, 90 York Way, London N1 9GU. Please include a daytime phone number. Submission and publication of all letters is subject to our terms and conditions.
-
Crime & Safety4 weeks agoWhat happens to Halifax customers if Lloyds makes changes?
-
Crime & Safety4 weeks agoFlock of clay birds set to take flight in special exhibition
-
Crime & Safety4 weeks agoOxfordshire bridge closure comes as management ‘weaknesses’ found
-
Oxford News4 weeks agoActor steps down from major role in new Harry Potter series
-
Oxford News4 weeks agoHenley pub once owned by Russell Brand reopens after 6 years
-
Oxford News4 weeks agoNHS fracture service helps support extra 1,000 patients
-
Crime & Safety4 weeks agoFriends of the Ridgeway appoint Matthew Barber as president
-
UK News4 weeks agoBurnham seeks to calm markets by committing to fiscal rules
