UK Arrests Air Base Suspects, US-China Tariffs Cut, More
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What happened with the arrests near RAF Fairford airbase in the UK?
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UK police are investigating a potential terrorism incident after five men were arrested near RAF Fairford. The airbase is a key launching point for US strikes against Iran after Britain approved its use for defensive strikes. Sources tell Bloomberg investigators are examining possible Iranian state involvement, although they caution the motive remains unclear. Authorities believe a serious attempted attack was disrupted at a late stage, with armed police called after three suspicious vehicles appeared to be travelling towards the base. Gloucestershire's Acting Chief Constable Maggie Blyth has given this update. A cordon remains in place around the vehicles and around 85 households are currently unable to return to their homes.
Maggie Blythe there with the UK's Defence Secretary saying that it would be unwise to speculate if Iran was involved. President Trump told reporters that the suspects were, quote, looking to do big damage to the facility.
How did the tip‑off from a local farmer lead to the foiled terror plot?
More details are emerging on that suspected terror plot. It appears the arrests were not made as a result of prior intelligence, but followed a tip-off from a local farmer. Bloomberg's Freddie Fulston has more. The
farmer who alerted police told the BBC she found three white fans blocking the road. She says a group of hooded and masked men ran off before she called 999, bringing armed police within 10 minutes. The woman believes her call foiled their plans, telling the BBC it was pure luck she spotted the vehicles. In London, Freddie Fulston, Bloomberg Radio.
The suspected attack plot has already upended Labour's carefully crafted plans for its party conference. Chancellor John Healey has cancelled a round of broadcast interviews planned for today. The Defence Secretary will speak to outlets instead. Later on, Healey will pledge a new age of industrialisation, according to a Treasury preview of his speech. He'll announce two major maritime projects worth billions of pounds. But the worsening global backdrop is putting Labour's ambitions under pressure.
Why did Labour’s party conference plans get disrupted by the security incident?
Prime Minister Andy Burnham is still arguing there's room for hope.
We've had a decade since Brexit and it's been a decade of too much drift, too much division and we need to draw a line on that. We need to set out a new direction for the country.
The Health Foundation estimates Burnham's ambition for free social care across England could cost £18 billion a year. The Prime Minister disputes that figure, but says unpopular choices, including higher taxes, may be needed to fund reform.
Iran is sticking to its seven-day proposal to open the Strait of Hormuz after President Trump rejected the offer. The US President told Axios over the weekend that Tehran had overplayed its hand. The Islamic Republic says it won't soften its demands and awaits a full response from mediators. Here's Bloomberg's Stuart Livingston-Wallace.
We're exactly where we were several months ago in the sense that Iran puts forward a deal that looks very much like the MOU that was signed back in the summer. That largely gets rejected. And again, we're in the situation now where both sides think the other one will blink first. And the reality is that there is no signs that either side is going to blink first.
What are the latest developments in the Iran‑US negotiations over the Strait of Hormuz?
Both can sustain, I think, the level of pain that they're getting in terms of either attacks on shipping or the attacks on their economies or whatever else. Plus, of course, the additional calculation for the US president who's got the midterms coming up. It'll be interesting to see if he does anything before then.
Stuart Livingston-Wallace heads Bloomberg's coverage of the Middle East and North Africa. Despite rejecting the proposal, President Trump said he expects negotiations to resume this week.
Financial stress is spreading in Europe. That's according to a new study which has found that rising leverage is leaving businesses more vulnerable.
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Chapters
6 chapters
1
What happened with the arrests near RAF Fairford airbase in the UK?
0:00–1:30
2
How did the tip‑off from a local farmer lead to the foiled terror plot?
1:30–2:34
3
Why did Labour’s party conference plans get disrupted by the security incident?
2:34–3:45
4
What are the latest developments in the Iran‑US negotiations over the Strait of Hormuz?
3:45–5:01
5
How is rising leverage creating financial stress for European companies?
5:01–6:08
6
What details were announced about the US‑China tariff reductions on $30 billion of imports?
6:08–7:12
Speakers
9 identifiedMore from Bloomberg News Now
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