UK-US Air Base Plot, Labour's Healey Under Pressure, More
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What is the latest update on the suspected terrorist plot at RAF Fairford?
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Nathan Hager. 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 believe a serious attempt attack was disrupted at a late stage with armed police called after three suspicious vehicles appear to be travelling towards the base. Gloucestershire's acting chief constable Maggie Blythe has given an update.
A cordon remains in place around the vehicles and around 85 households are currently unable to return to their homes.
Maggie Blyth there. The men remain in custody on suspicion of preparing a terrorist act and explosive offences. President Trump told reporters the suspects were quote looking to do big damage.
And that suspected attack plot has already upended Labor's carefully crafted plans for its party conference. Chancellor John Healy's canceled a round of broadcast interviews planned for today. The defense the defense secretary is going to speak to outlets instead. Later today, Healy will pledge what he's calling a new age of industrialization. That is according to a Treasury preview of his speech. But the worsening global backdrop is putting Labor's ambitions under pressure. Prime Minister Andy Burnham, though, is still arguing there is 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 Prime Minister Burnham's ambition for free social care across England could cost eighteen billion pounds a year. The PM 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 Iran 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 Livingstone 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 MAU that was signed back in the summer. that largely gets rejected. And again, we're the situation now where both sides think s the other one will blink first. And the reality is that there is no sign that either side is going to blink first.
How is the UK Labour Party’s conference being affected by the airbase incident?
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 he's got the midterms coming up. Be interesting to see if he does anything before then.
That was Stuart Livingstone Wallace who leads our Middle East and North Africa coverage. Despite rejecting the proposal, Trump said he expects negotiators to resume negotiations to
Resume this week. Well, global bond markets are under renewed pressure as higher oil prices reinforce expectations that interest rates will stay higher. Treasuries are falling alongside bonds in Japan, Australia, and South Korea. Brent crude has gained more than three percent. The U.S. two-year yield is up to about 4.9%, while the 10-year has climbed to 5.2. Traders are pricing in three more interest rate.
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