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Middle East crisis live: Trump says US close to ‘finishing the job’ in Iran during prime-time address | US-Israel war on Iran
Trump once again sets out a timeline of ‘two to three weeks’, as he defends his decision to go to war
Donald Trump used his first address to the nation since the start of the war in Iran to justify the costs that it is imposing on America and the world, while continuing to claims that he is close to winding up the conflict,
Trump said on Wednesday evening that Iran had been decimated and that the hard part of the war was done. He however added that the US would hit Iran “extremely hard” for the next two to three weeks.
Tonight, I’m pleased to say that these core strategic objectives are nearing completion … In these past four weeks, our armed forces have delivered swift, decisive, overwhelming victories on the battlefield – victories like few people have ever seen before.”

Key events
Trump says US close to ‘finishing the job’ in Iran
Trump has said that America’s core strategic objectives are nearing completion and he is close to “finishing the job” in Iran. He has once again set out a timeline of “two to three weeks”.
He has followed this statement by once again criticising US allies for failing to take part in the operation against Iran – and told them that they must take responsibility for reopening the strait of Hormuz.
Trump has said over the last few days that the US does not rely on the strait for its oil, so therefore will not take responsibility for reopening the vital waterway.
On Tuesday he told reporters that the responsibility for keeping the strait of Hormuz open will rest with countries that rely on it. “That’s not for us … That’ll be for whoever’s using the strait.”
Trump has claimed that Iran was “right at the doorstep” of gaining a nuclear weapon.
Earlier on Wednesday the president said he did not care about Iran’s stock of highly enriched uranium (HEU), arguing it was deep underground and could be monitored by satellite.
Experts said that if the US-Israeli offensive against Iran concluded with the Tehran government still in control of its 440kg HEU stockpile, it would be significantly closer to the capability of making nuclear warheads than if the US had pursued a potential negotiated settlement that was on the table at the time the US and Israel launched the war on 28 February.
Trump makes the case for the Iran war
The president has begun to make the case for why the war in Iran is necessary.
From the very beginning my campaign for president in 2015, I said I would never allow Iran to have a nuclear weapon. This regime has been chanting death to America, death to Israel.
Trump is going through a timeline of his approach to Iran over his first and second term. He is spending some time talking about his withdrawal from the 2015 nuclear deal that the Obama administration agreed with Tehran to limit Iran’s enrichment of uranium.
Trump has begun by praising the victories that the US has achieved in Iran.
Iran’s navy is gone. Their Air Force is in ruins … Very few are left.”
He goes on to praise the operation to remove Nicolas Maduro in Venezuela in January.
We are working along Venezuela .. true partners and we are getting along incredibly well.”
Trump begins address to the nation
Donald Trump is speaking now, we’ll bring you updates as they come in.
As Donald Trump prepares to address the nation, many are asking why he is making this speech now, more than one month into the conflict. One reason might be the amount of recent polling which shows support for the Iran war, and for his administration, falling.
A new CNN poll released in the last few hours shows that just one-third of Americans believe Trump has a “clear plan to handle the situation in Iran”.
The polling also shows that just 34% of Americans approve at least somewhat of the Trump’s decision to launch the war, down 7 points from another CNN poll conducted soon after the start of operations.
More than 5,000 people have been killed across the Middle East since the war in Iran began, according to death tolls from various groups compiled by the Reuters news agency.
The casualty numbers are concentrated in Iran and Lebanon, but also include countries throughout the gulf, Israel, Syria, Iraq and the West Bank.
In Iran, US-based rights group HRANA said 3,519 people have been killed since the war erupted. It said 1,598 of those were civilians, including at least 244 children. The group says its data comes from field reports, local contacts, medical and emergency sources, civil society networks, open-source materials and official statements.
Lebanese authorities say 1,318 people have been killed in Israeli strikes since 2 March, including at least 124 children. More than 400 fighters from Hezbollah have been killed since the Lebanese armed group launched attacks in a new war with Israel, two sources familiar with the group’s count told Reuters. It is unclear if the death toll reported by the authorities includes the fighters.
Three United Nations peacekeepers from Indonesia were also killed in two separate incidents in southern Lebanon, one from a roadside explosion, the other involving a projectile.
As Donald Trump prepares to address the American people, US central command has released an update on the ongoing conflict in Iran.
Operation Epic Fury has seen more than 13,000 combat flights, which have struck over 12,000 targets and damaged or destroyed more than 150 Iranian vessels, according to Centcom.
Despite these raw statistics, Trump is struggling to reconcile weeks of changing goals and often contradictory messages about whether he’s winding down or ready to escalate military operations — as Iran keeps up its attacks on Israel and Gulf countries.
The New York Times has reported that US intelligence agencies believe Iran is not currently willing to engage in negotiations to end the war, and that despite the month-long bombing campaign by the US and Israel, the government in Tehran believes it remains in a strong position.
According to officials speaking to the NYT, Iran doesn’t trust the US or believe Donald Trump is serious about negotiations.
The current conflict was launched while Iran was locked in negotiations with US officials over its nuclear programme. Last year, Israel launched attacks on Iranian nuclear targets, again while the US was engaged in discussions with Tehran.
On Wednesday, Iran rejected Donald Trump’s claim that its leadership asked for a ceasefire, calling the US president’s statement “false” and “baseless”.
Tehran has repeatedly said there are no ongoing negotiations to end the war. The country’s president, Masoud Pezeshkian, has previously said Iran had the “necessary will” for a ceasefire, but only if its foes guaranteed hostilities would not resume.
Trump preparing to make first national address since launching Iran war a month ago
Donald Trump is minutes away from delivering his first formal address from the White House since launching the war in the Middle East a month ago.
It comes at a pivotal moment for the US president, as he faces accusations that he has lost control of the conflict and will not be able to achieve the key aims of the war.
Trump has continued to claim that the US has already won the war, and has refused to take responsibility for the economic fallout that has spread across the world.
In his speech, the president will give an operational update on the progress of Operation Epic Fury, while highlighting the military’s “success in achieving all of its stated goals”, a US official has said.
He is expected to reiterate the 2-3 week timetable for concluding the operation, but crucially is not expected to announced an end to the war.
Recent polling shows Trump’s overall approval rating slipping below 40%, with disapproval climbing above the mid-50s as voters sour on both the war and its economic fallout, while support for the Iran campaign itself polls even lower.
The economic picture has compounded the problem. US petrol prices have surged above $4 a gallon for the first time in years, while consumer confidence has weakened, dragging down Trump’s already fragile standing on the economy.
Opening summary
Welcome to our continuing coverage of the crisis in the Middle East, as Donald Trump prepares to address America for the first time since the US-Israel war on Iran was launched.
The president will deliver the prime-time speech at 9pm ET from the White House.
The address comes as his administration faces plunging approval ratings, economic jitters and a spiralling diplomatic fallout. Trump is expected to try and reassure the nation that US goals are being met and that he has a plan for completing the war, which has roiled the US economy.
Earlier Wednesday, Trump claimed a major breakthrough, saying Iran’s president was seeking a ceasefire. This was swiftly denied by Iran’s foreign ministry, which also accused Washington of making “maximalist and irrational” demands.
Here’s what else has been happening today:
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Iran has rejected Donald Trump’s claim that its leadership asked for a ceasefire, calling the US president’s statement “false” and “baseless”. Trump made the claim in a post on Truth Social, which said: “Iran’s New Regime President, much less Radicalized and far more intelligent than his predecessors, has just asked the United States of America for a CEASEFIRE! We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!”
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Trump also said he is “absolutely” considering withdrawing the US from Nato, warning that the matter was “beyond reconsideration” after the refusal of US allies to join the US-Israeli war against Iran. The president’s threats, his most determined to date, have left the alliance facing its worst crisis in its 77-year history, a former US ambassador has said. Here’s our story.
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Meanwhile, in an open letter to the American people, Iran’s president Masoud Pezeshkian said relations between Washington and Tehran were “misunderstood” and that Iran was not an aggressor. The Iranian “harbor no enmity toward other nations, including the people of America, Europe, or neighbouring countries,” he said, adding that portrayals of Iran as a security threat were inaccurate, and Tehran was acting in self-defence – not aggression.
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In Tehran, Kamal Kharazi, a top foreign policy official and former Iranian foreign minister, has been severely injured in an airstrike on his home in the Iranian capital. His wife was reportedly killed in the attack. Kharazi, considered a moderate politician and veteran policy expert, also served as an adviser to the assassinated former supreme leader Ayatollah Ali Khamenei. Reports suggest his targeting is being viewed as an attempt to derail diplomacy.
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:
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The average 2-year fixed residential mortgage rate today is 5.61%. This is down from 5.62% the previous working day.
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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.
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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.
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