UK News
Car bomb hijacking victim 'incredibly brave', says police chief
Chief Constable Jon Boutcher says his officers suspect the bombing was carried out by the dissident republican group known as the New IRA.
Source link
UK News
Surrey v Essex, Yorkshire v Sussex, and more: county cricket, day four – live | County Championship
Key events
Arrive train-belatedly at The Oval, to discover that Tom Westley was dropped off Matt Fisher’s first ball. He roars an lbw appeal, both Westley and the ump are uninterested.
And at Headingley, George HIll has removed nightwatchman Carlson. Sussex, three down, lead by 61.
100 for Jonny Tattersall
Tattersall joins in the Sophia Gardens run glut, with a playful 112 before Kiran Carlson, who has toiled through 27 overs, has him caught for 112. Leicestershire 542-6 have a lead of 102 over Glamorgan.
And another one down for Derbyshire, Andersson for a two-ball duck to Will Williams, who is having quite a game.
Good and bad news for Derbyshire fans – Matthew Montgomery has 50, but nightwatchman Ben Aitchison is out. Derbys 125-4, still trail Gloucs by 92.
An early wicket at The Oval, that man Atkinson easing into his bowling boots. Tall Paul lbw for three, Essex 25 for one and still in arrears.
Ignore me, comments are up and running.
Durham have the biggest test this morning, a rampaging Jimmy Anderson. Lancs have a week off next week so he can give it his all.
To those hoping to chat BTL, fingers crossed we will have comments up soon.
Six games safely underway, the sun still smiling.
It seems Joe Root’s batting had more than just CCLive! smiling. Last night Sussex coach Paul Farbrace told the reporters network: “One or two of our young batters who have aspirations to play international cricket got to watch Rooty close up, how he scores off good balls and punishes the bad ones.”
Also enjoyed his comment on Tom Price. “He’s twisted his ankle, but it’s the first time I’ve ever seen anyone twist an ankle doing a long barrier. When they did that at Under 13s level, he must have had a week off that week. He’ll be ok.”
Search for a (Surrey) state school superstar
This looks good. If you have or know a child from a state school background in Surrey, point them in the direction of Twenty20 Community Cricket. They are looking for a ‘state school superstar’ from boys in years 4–6 and girls in years 7–9 . The winners will get a full bursary place at the Twenty20 Community Cricket academy.
The competition consists of a skills assessment (bowling accuracy, catching consistency, shot selection, agility and athleticism) and then a hard-ball match. For more details and to register, see here.
Sunday’s round-up
Sabastian Sawe may have crossed the marathon finishing line in under two hours, but things were more sedate a couple of miles away at the Oval where Dom Sibley escorted Surrey towards parity and beyond. He spent nearly 20 minutes on 99 before reaching his first hundred of the year, though shortly afterwards was the unlucky recipient of a Sam Cook cracker. Dan Lawrence leapt to an entertaining 125. Surrey finished with a lead of 63 and Essex saw off the final nine overs of the day. Surrey had promised free entry to any marathon runners but there was no sign of medals.
Worcestershire duly bulldozed Kent, an innings-and-two-run flattening at New Road. Kent needed 231 to avoid an innings defeat and were soon in the soup at 38 for three, Tom Taylor (5 for 56) the destroyer. Zak Crawley dug in, but was eventually out, driving, for 31. Chris Benjamin (77) and Keith Dudgeon (41) could not quite force Worcestershire to bat again. Kent are yet to pick up a batting point, and have lost Ben Compton with a dislocated finger.
Joe Root purred into action at Headingley, in his first runout of the year. However, it was a surprise when he nibbled at Henry Crocombe and was out for 96. Sam Whiteman collected his maiden century for Yorkshire, who inched to a lead of nine. Sussex then lost two evening wickets.
Haseeb Hameed (115) and Ben Duckett (93) propped up Nottinghamshire as they followed-on against Warwickshire. Duckett’s dashing 93 was his second half-century of the game.
Matthew Potts reeled through Lancashire’s top order, leaving them 72 for six, but two Durham old boys, Michael Jones (72) and Paul Coughlin (100) manned the lifeboats. Durham need 336 to win.
Winless Gloucestershire can sleep on the chance of breaking their drought after forcing Derbyshire to follow-on at The Racecourse Ground.
On a featherbed at Cardiff, it was Leicestershire’s turn for batting practice, with only four wickets falling all day.
Scores on the doors
DIVISION ONE
Sophia Gardens: Glamorgan 440 v Leicestershire 500-5
Trent Bridge: Notts 279 and 310-4 v Warwickshire 459
The Oval: Surrey 472 v Essex 409 and 19-0
Headingley: Yorkshire 511 v Sussex 502 and 31-2
DIVISION TWO
The County Ground: Derbyshire 281 and 117-3 v Gloucestershire 498
Riverside: Durham 295 v Lancashire 370 and 260-9dec Durham need 336 to win
New Road: Worcestershire 447 BEAT Kent 196 and 249 by an innings and two runs.
Preamble
Good morning! It’s another beautiful one, lilac blossoms and stick-gathering birds. After Kent were rolled over yesterday, all eyes on Chester le Street, Derby and Trent Bridge, with the others looking likely to drift towards draws.
UK News
Oil at three-week high as US-Iran peace talks stall; China blocks Meta’s takeover of AI agent Manus – business live | Business
Oil at three-week high as US-Iran peace talks stall
Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.
The new week begins with the oil price rising, again, as the stalled US-Iran peace talks threaten to extend disruption to crude supplies from the Middle East.
Brent crude has jumped about 2% this morning to a high of $107.97 a barrel, the highest level since the two sides agreed a ceasefire on 7 April.
Prices rose after Donald Trump cancelled his plan to send US envoys Steve Witkoff and Jared Kushner for ceasefire talks in Pakistan on Saturday, saying “too much time” has been “wasted on travelling”.
The US president then doubled down on this position, telling Fox News:
“If they want to talk, they can come to us, or they can call us. You know, there is a telephone. We have nice, secure lines.”
However, there are signs of positive developments… Axios are reporting that Tehran has given the US a new proposal to reopen the strait of Hormuz, and end the war, with nuclear negotiations postponed for a later date.
So, geopolitics will continue to dominate the markets, at the start of a big week, with several big central banks taking interest rates decisions in the days ahead.
As Mohit Kumar, economist at Jefferies, explains:
Talks have stalled between US and Iran as Iran has stated that it will not negotiate till the US blockade remains in place, while US has stated that it doesn’t know who it is negotiating with.
Our base case remains that we are moving towards a deal but tail risk of short term escalation remains. It is not in the interest of either parties to escalate further. The latest Iran proposal shows the wiliness of Iran to negotiate, while Trump already wants a deal. Hence, we believe that we will eventually move towards a deal, but with some speed bumps along the way.
The agenda
Key events
Pound at one-week high against the dollar
The pound has hit its highest level against the US dollar in just over a week.
Sterling has gained 0.2% against the dollar to $1.355 this morning, its highest level since Friday 17 April.
The dollar has dropped this morning, as investors anticipate change at the top of the US Federal Reserve.
Yesterday, Republican Senator Thom Tillis said he will allow Federal Reserve chair nominee Kevin Warsh to face a vote in the Senate. That should clear the way for Donald Trump’s choice of Fed chair to take control of the US central bank.
Tillis dropped his opposition to a vote on Warsh after the Department of Justice said on Friday that it would drop its criminal investigation into current Fed chair Jay Powell, whose term ends next month.
German chemicals giant BASF is raising some of its prices for the second time since the Iran war began.
Bloomberg has the details:
The German manufacturer’s customers will see prices go up by an additional 25% on products in its antioxidant, process stabilizer and light stabilizer portfolio for plastic applications, BASF said Monday. The increase comes on top of a 20% hike announced on March 4 and is effective immediately.
BASF cited “substantial” gains in raw material, energy and logistic costs due to the Middle East conflict.
Emerging markets at record high, but can risk rally last?
Emerging market stocks have hit record highs today, as optimism over the AI sector drove stocks higher in Asia.
MSCI’s gauge of global emerging market shares has risen by 1.3%, having already risen in the previous four weeks.
That underlines how the markets have bounced back from their initial slump when the Iran war began – with the US and Japanese markets also at record highs – even though the conflict is not resolved.
Capital Economics has suggested that the current risk rally is on borrowed time while the strait of Hormuz remains closed
The chief markets economist, Jonas Goltermann, says:
If the diplomatic and military stalemate between the US and Iran continues, and the strait of Hormuz remain largely closed, policymakers and market participants will find it increasingly difficult to keep “looking through” the crisis.
The widespread assumption that the ongoing disruption to energy supply will generate only limited economic damage can probably sustain investors’ optimism for a while yet. But at some point the situation on the ground needs to actually improve, or that optimism will presumably start to fade.
China blocks Meta’s $2bn acquisition of AI startup Manus
Newsflash: Beijing has decided to block Meta Platforms from aquiring agentic AI startup Manus in a $2bn deal.
China’s state planner has prohibited foreign acquisition of Chinese artificial intelligence startup Manus, ordering involved parties to cancel the transaction, the National Development and Reform Commission said on Monday (via Reuters).
The deal had caused controversy in China, sparking claims that it was an attempt to hollow out the country’s technology base,
Last year, Forbes called Manus’s product “a revolutionary AI agent capable of independent thought and action”, saying:
Manus is not just another chatbot, nor is it merely an improved search engine dressed in futuristic branding. It is the world’s first fully autonomous AI agent, a system that doesn’t just assist humans — it replaces them.
Adidas shares jump after London marathon
Shares in athletic apparel and footwear company Adidas have jumped by almost 1.75% in early trading after three of its athletes shone at the London Marathon yesterday.
Sabastian Sawe and Yomif Kejelcha both smashed the two-hour barrier in the men’s marathon race, and Tigist Assefa set a women-only world record in the women’s race.
All were wearing Adidas’s Adizero Adios Pro Evo 3 shoe, and the company will be hoping for a sales boost from runners looking to lower their own times.
Patrick Nava, general manager at adidas Running, says:
The adidas family is incredibly proud of Sabastian and Tigist’s historic achievements, marking the fastest times humans have ever run in a marathon.
This is a testament to the years of hard work and dedication they have made, alongside our innovation team, who have built a supershoe which breaks new ground in the Adizero Adios Pro Evo 3.”
Shares in Adidas have risen to €138.55, up €2.30 this morning.
Unicredit also have a note out on the oil market this morning, in which they warn:
The Iran war has triggered one of the largest disruptions to physical oil supply in modern history. While de‑escalation could ease some geopolitical risk premiums, the damage to production, exports and logistics means markets are unlikely to quickly return to pre‑war conditions.
Goldman Sachs raises oil price forecast as war disruption hits production
The deadlock in the Middle East confict has prompted Goldman Sachs to raise its oil price forecast.
Goldman Sachs now estimate that Brent crude will trade at about $90 a barrrel in the last quarter of this year, up from an earlier projection of $80. US crude is forecast to average $83 in October-December, up from $75 before.
Goldman blames “lower Persian Gulf production” for the upgrade, telling clients:
We now assume a normalisation in Gulf exports by end-June (v mid-May prior) and a slower Gulf production recovery. The economic risks are larger than our crude base case alone suggests because of the net upside risks to oil prices, unusually high refined product prices, products shortages risks, and the unprecedented scale of the shock.
Goldman’s analysts estimate that 14.5m barrels a day of Persian Gulf crude production has been lost, leading to a record drawdown of global oil inventories of 11m-12m barrels a day this month.
The jump in oil prices will lead to ‘softer demand’, they explain:
We assume that global oil demand falls on a year-over-year basis by 1.7mb/d in 2026Q2 and 0.1mb/d in 2026 given the jump in refined product prices. Because extreme inventory draws are not sustainable, even sharper demand losses could be required if the supply shock persists longer.
Goldman also warns that the risks to its forecasts are to the upsides, and lay out three scenarios for how events could unfold:
-
Adverse scenario: Brent 2026Q4 would average just over $100 assuming Gulf exports only normalise by end-July.
-
Severely adverse scenario: Brent 2026Q4 would average at nearly $120 assuming Gulf exports normalise by end-July and 2.5mb/d of persistent reduction to Gulf capacity. This 2.5mb/d of scarring is equivalent to Hormuz flows not recovering above 70% (till pipeline capacity is expanded).
-
Benign scenario: Brent 2026Q4 would average just under $80 assuming Gulf exports normalise by mid-June, no capacity reduction, and stronger US and core OPEC supply responses.
[Goldman had previously trimmed their forecast for the oil price earlier this month, after the US-Iran ceasefire was announced]
Supermarket chain J Sainsbury is the top faller on the FTSE 100 in early trading, after a broker downgrade.
Goldman Sachs have cut their rating in Sainsbury’s from ‘buy’ to ‘sell’, lowering their share price forecast to 335p from 390p.
In response, Sainsbury’s shares are down 3.4% to 333p.
European stock markets have opened modestly higher, as investors try to assess the situation in the Middle East.
Axios’s report that Iran has given the US a new proposal to reopen the strait of Hormuz may have brightened the mood a little.
Germany’s Dax index is up 0.4% in early trading, with France’s CAC 40 up 0.25%.
The UK’s FTSE 100 index is flat, though.
This week is going to be extremely busy for financial news.
Jim Reid, market strategist at Deutsche Bank, explains:
Looking ahead, with central bank meetings for every G7 country this week — alongside 44% of the S&P 500 reporting by market capitalisation, including five of the Mag 7 — it is shaping up to be a blockbuster week, even before factoring in ongoing Iranian war newsflow.
The Bank of Japan meets tomorrow, followed by the Fed and the Bank of Canada on Wednesday. Thursday then brings decisions from the ECB and the Bank of England. All are expected to remain on hold, but the key question will be how each central bank’s reaction function is shaped by the conflict and the associated stagflation risks.
European gas prices are rising a little at the start of trading.
The month-ahead UK gas contract is up 0.8% at 112.8p a therm – up from 80p before the Iran war began but below the high of 180p hit in mid-March.
Continential European gas is up a similar amount; the next-month Dutch TTF Natural Gas Futures contract has risen to €45.21 a megawatt hour.
Japan’s Nikkei hits record high over 60,000 points on peace talk hopes
Hopes of a breakthrough to end the Middle East conflict have pushed Japan’s stock market to a new record high.
The Nikkei 225 index has ended the day at a new closing high, up almost 1.4% to hit 60,537 points.
Stocks jumped after Axios reported that Iran has given the US a new proposal to end their war, which helped to calm nerves after President Trump cancelled his envoys’ trip to Pakistan for peace talks.
Ipek Ozkardeskaya, senior analyst at Swissquote, says:
The mood is slightly better this morning than it was into the weekend, as Iran reportedly offered the US a proposal to reopen the strait of Hormuz — a move that could pave the way for the continuation of peace talks between the two parties.
Predicted house price growth in UK halved due to Middle East conflict
UK estate agent Knight Frank has halved its house price growth predictions for this year, citing the economic shocks caused by the Iran conflict.
Knight Frank now expects UK house price growth of 1.5% this year, down from a forecast of 3% last September. Growth is then expected to rise to 3% in 2027, down from 4% before.
Tom Bill, head of UK residential research at Knight Frank, says:
The Middle East conflict has pushed mortgage rates higher, dampened buyer sentiment and fuelled speculation about how the government will respond to the resulting economic shock.
This hat-trick of headwinds means we have revised down our near-term house price forecasts.
Oil at three-week high as US-Iran peace talks stall
Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.
The new week begins with the oil price rising, again, as the stalled US-Iran peace talks threaten to extend disruption to crude supplies from the Middle East.
Brent crude has jumped about 2% this morning to a high of $107.97 a barrel, the highest level since the two sides agreed a ceasefire on 7 April.
Prices rose after Donald Trump cancelled his plan to send US envoys Steve Witkoff and Jared Kushner for ceasefire talks in Pakistan on Saturday, saying “too much time” has been “wasted on travelling”.
The US president then doubled down on this position, telling Fox News:
“If they want to talk, they can come to us, or they can call us. You know, there is a telephone. We have nice, secure lines.”
However, there are signs of positive developments… Axios are reporting that Tehran has given the US a new proposal to reopen the strait of Hormuz, and end the war, with nuclear negotiations postponed for a later date.
So, geopolitics will continue to dominate the markets, at the start of a big week, with several big central banks taking interest rates decisions in the days ahead.
As Mohit Kumar, economist at Jefferies, explains:
Talks have stalled between US and Iran as Iran has stated that it will not negotiate till the US blockade remains in place, while US has stated that it doesn’t know who it is negotiating with.
Our base case remains that we are moving towards a deal but tail risk of short term escalation remains. It is not in the interest of either parties to escalate further. The latest Iran proposal shows the wiliness of Iran to negotiate, while Trump already wants a deal. Hence, we believe that we will eventually move towards a deal, but with some speed bumps along the way.
The agenda
A 37-year-old man is arrested on suspicion of preparing terrorist acts.
Source link
-
Crime & Safety7 days agoBicester man denies sexually assaulting two young girls
-
Oxford News4 weeks agoOxfordshire village fear for welfare incident update issued
-
Oxford News4 weeks agoDrug driving arrest carried out in Oxfordshire market town
-
UK News7 days agoStarmer says it ‘beggars belief’ he wasn’t told about Mandelson vetting failure as he faces Commons – UK politics live | Politics
-
Crime & Safety2 weeks agoLorry overturns on Oxfordshire A43 roundabout with driver trapped
-
Oxford News1 week agoBanbury cake company with 400 year history shut down
-
UK News5 days agoTV tonight: Shetland meets CSI in a new drama about a disgraced cop | Television
-
UK News1 week agoFears over rogue parking by sunrise-chasers at national park after overnight ban