Connect with us

Published

on

The UK’s benchmark stock index has reached another record high.

The FTSE 100 index of most valuable companies on the London Stock Exchange closed at 8,505.69, breaking the record set last May.

It had already broken its intraday high at 8532.58 on Friday afternoon, meaning it reached a high not seen before during trading hours.

Money blog: Major boost for mortgage holders

The weakened pound has boosted many of the 100 companies forming the top-flight index.

Why is this happening?

Most are not based in the UK, so a less valuable pound means their sterling-priced shares are cheaper to buy for people using other currencies, typically US dollars.

This makes the shares better value, prompting more to be bought. This greater demand has brought up the prices and the FTSE 100.

The pound has been hovering below $1.22 for much of Friday. It’s steadily fallen from being worth $1.34 in late September.

Also spurring the new record are market expectations for more interest rate cuts in 2025, something which would make borrowing cheaper and likely kickstart spending.

What is the FTSE 100?

The index is made up of many mining and international oil and gas companies, as well as household name UK banks and supermarkets.

Familiar to a UK audience are lenders such as Barclays, Natwest, HSBC and Lloyds and supermarket chains Tesco, Marks & Spencer and Sainsbury’s.

Other well-known names include Rolls-Royce, Unilever, easyJet, BT Group and Next.

Read more:
Russia sanctions: Fears over UK enforcement by HMRC
Trump tariff threat prompts IMF warning ahead of inauguration

FTSE stands for Financial Times Stock Exchange.

If a company’s share price drops significantly it can slip outside of the FTSE 100 and into the larger and more UK-based FTSE 250 index.

The inverse works for the FTSE 250 companies, the 101st to 250th most valuable firms on the London Stock Exchange. If their share price rises significantly they could move into the FTSE 100.

A good close for markets

It’s a good end of the week for markets, entirely reversing the rise in borrowing costs that plagued Chancellor Rachel Reeves for the past ten days.

Fears of long-lasting high borrowing costs drove speculation she would have to cut spending to meet self-imposed fiscal rules to balance the budget and bring down debt by 2030.

Please use Chrome browser for a more accessible video player

They Treasury tries to calm market nerves late last week

Long-term government borrowing had reached a high not seen since 1998 while the benchmark 10-year cost of government borrowing, as measured by 10-year gilt yields, was at levels last seen around the 2008 financial crisis.

The gilt yield is effectively the interest rate investors demand to lend money to the UK government.

Only the pound has yet to recover the losses incurred during the market turbulence. Without that dropped price, however, the FTSE 100 record may not have happened.

Also acting to reduce sterling value is the chance of more interest rates. Currencies tend to weaken when interest rates are cut.

Continue Reading

UK

Three Iranians charged under National Security Act after investigation by UK counter-terror police

Published

on

By

Three Iranians charged under National Security Act after investigation by UK counter-terror police

Three Iranian men have been charged with offences under the National Security Act in the UK, police have said.

The trio have been charged with engaging in conduct likely to assist a foreign intelligence service between 14 August 2024 and 16 February 2025, following an investigation by counter-terror police.

The Metropolitan Police said the three men are Mostafa Sepahvand, 39, Farhad Javadi Manesh, 44, and Shapoor Qalehali Khani Noori, 55.

The foreign state to which the charges relate is Iran, police said.

All three men will appear at Westminster Magistrates Court on Saturday, the force added.

Sepahvand, of St John’s Wood, London, has also been charged with “surveillance, reconnaissance and open-source research” with the intention of “committing serious violence against a person in the UK”, according to a police statement.

Meanwhile, Manesh, of Kensal Rise, London, and Noori, of Ealing, London, have also been charged with “engaging in conduct, namely surveillance and reconnaissance, with the intention that acts, namely serious violence against a person in the UK, would be committed by others”.

Read more from Sky News
Teenagers arrested over torture of kittens
Rapper Chris Brown denied bail after UK charge
Salman Rushdie’s attacker jailed

Commander Dominic Murphy, from the Metropolitan Police’s Counter Terrorism Command, described the charges as “extremely serious”.

“Since the men were arrested two weeks ago, detectives have been working around the clock and we have worked closely with colleagues in the Crown Prosecution Service to reach this point,” he said.

“Now that these men have been charged, I would urge people not to speculate about this case, so that the criminal justice process can run its course.”

A fourth Iranian national aged 31 who was arrested was released with no further action on Thursday.

In a separate unrelated probe, counter-terror officers arrested five Iranian men, aged between 29 and 46, during raids across various locations in Greater Manchester, London, and Swindon earlier this month.

Last October, MI5 director general Ken McCallum said the UK intelligence agency had responded to 20 “potentially lethal” Iran-backed plots since 2022, warning of the risk of an “increase or broadening of Iranian state aggression in the UK”.

Continue Reading

UK

Two firefighters and one other person die after fire at former RAF base in Oxfordshire

Published

on

By

Two firefighters and one other person die after fire at former RAF base in Oxfordshire

Two firefighters and a member of the public have died in a large fire in Bicester, the fire service announced.

The firefighters died in the inferno at a former RAF base in Oxfordshire, which now hosts historic motoring and aviation centre Bicester Motion.

The local fire service was called to the scene at 6.39pm last night.

Chief Fire Officer Rob MacDougall said: “It is with a very heavy heart that we today report the loss of two of our firefighters. Families have been informed and are being supported.

“Our thoughts are with them at this most difficult of times and we ask for privacy to be respected.

“We cannot release any details at present but will provide further information as soon as we can.”

Two other firefighters sustained serious injuries and are currently being treated in hospital, Oxfordshire County Council said in a statement.

Footage shared on social media shows plumes of smoke billowing into the sky and flames swallowing the large building.

Clouds of smoke from the fire were billowing into the sky last night. Pic:@kajer87X
Image:
Clouds of smoke from the fire were billowing into the sky last night. Pic:@kajer87X

Damaged buildings following a fire at Bicester Motion, the site of a former RAF base which is home to more than 50 specialist businesses focused on classic car restoration and engineering in Oxfordshire, where a large fire broke out on Thursday, with witnesses reporting loud explosions and thick black smoke billowing from the site. Picture date: Friday May 16, 2025.
Image:
Two firefighters and one other person died in the fire, while two more firefighters were seriously injured. Pic: PA

Ten fire crews attended the incident, with four remaining at the scene. The fire is still ongoing, but it is considered under control.

Local residents were advised to remain indoors and keep their windows shut, but this advice has now been lifted.

Bicester Motion said in a statement it would be closed today and over the weekend.

The cause of the fire is not yet known.

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the fullest version.

You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.

Continue Reading

UK

‘Toxic’ army unit charged with investigating sex crimes allowing abusers to ‘get away with it’ in own ranks, whistleblower says

Published

on

By

'Toxic' army unit charged with investigating sex crimes allowing abusers to 'get away with it' in own ranks, whistleblower says

More than a dozen women came forward to report a staff sergeant in the Royal Military Police (RMP) for sexual abuse, but he was allowed to resign from the army instead of face charges.

Warning: This article contains material some readers may find distressing

That’s the claim of a whistleblower who served as a sergeant in the RMP for over a decade and says she was one of the man’s victims.

Amy, not her real name, says a “toxic” culture in the military police means sexual predators in the army are “getting away with stuff that they shouldn’t be getting away with”.

It’s a rare insight into life inside the Royal Military Police, the corps charged with investigating crime in the army.

Amy described how the man who assaulted her would go into women’s rooms and sit on their beds. She says he used to force her to go out driving with him at night and talk about sex.

“He preyed on the young, new females that were in the unit,” she says.

More on Army

“One day, I was out with my friends in town and he was on patrol… There were two of us that went over to speak to him and I had quite a low-cut top on.

“So he hooked his finger around my top and pulled my boob out”.

GRAPHIC

She recalls as she tried to stop him, “he grabbed my hand and put it on his penis”.

She claims there are other men in the RMP who’ve been accused of sexual offences, recalling hearing of five separate allegations of rape against male colleagues by female colleagues.

“If all of this sexual assault and bullying and rapes are going on within the military police, how can they then go out and investigate the wider army for doing the same things?” she says.

“It doesn’t work.”

Amy, a former RMP officer who alleges sexual abuse in the armed forces
Image:
Amy, a former RMP officer who alleges sexual abuse in the armed forces

‘He got away with it’

Looking back on her career in the army is difficult for Amy.

After leaving, she tried to settle back into life as a civilian with a new job and a young family to look after, but says she worried about bumping into former colleagues in the street.

“It’s taken me a long time to heal,” she says.

“I was very bitter towards my military career when I left, but I’ve had to sort of learn, build myself up again and remember the good times because they were really good times as well… I think it was just so bad at points.”

When she joined the RMP, she believed she would be part of a unit “representing how the rest of the soldiers should be conducting themselves”.

The reality, she says, was that she had become part of “one of the most toxic” corps in the army.

She recalls being told that the staff sergeant she had reported for sexual assault would be allowed to resign.

“They basically told me he’s not going to be charged, but will be leaving the military… doing him a favour,” she says.

“He got away with it all,” she adds. “He’s not going to lose his pension and whatever else he would have lost with a dishonourable discharge.

“He’s left without a criminal record… that’s not safe for civilians as well, because it’s not even on his record.”

‘They investigate themselves’

Earlier this year, an inquest into the suicide of 19-year-old Royal Artillery Gunner Jaysley Beck found she had been failed by the army after reporting sexual assault and harassment.

Since then, Sky News has reported claims of widespread abuse and growing calls for investigations into sexual offences to be removed from the RMP and instead carried out by civilian police.

Please use Chrome browser for a more accessible video player

From March: Army women reveal alleged abuse

The Labour chair of the influential House of Commons Defence Committee is now urging the government to act.

Tan Dhesi told Sky News: “The system needs to change… incidents of sexual violence and sexual assault should be dealt with not by the Royal Military Police but by civilian police and civilian courts.

“I hope that the government will be making that substantial change in the very, very near future; in fact, they should do it ASAP.”

Tan Dhesi MP, Labour chair of the influential House of Commons Defence Committee
Image:
Tan Dhesi MP told Sky News that ‘the system needs to change… ASAP’

Since Gunner Beck’s death, a new tri-service complaints team has been announced by the Ministry of Defence (MoD).

The change will see bullying, harassment, discrimination related service complaints dealt with by a team outside the commands of the Royal Navy, British Army and Royal Air Force.

However, Amy believes investigations need to be done “completely separately from the military”.

“Otherwise it doesn’t work because friends will be investigating friends,” she says.

“I think there’s such a male-dominated space in the military still. Women have no chance… and it’s not fair because people are getting away with stuff that they shouldn’t be getting away with and allowed to continue doing it and ruining lives.”

She believes the entire system lacks accountability. “They investigate themselves,” she says, even down to how the RMP is regulated.

“The people that run that unit are RMP. They get posted in, do a few years and then get posted back out.”

GRAPHIC

‘I was told off for reporting it’

Katie, also not her real name, served in the army for over 20 years. She saw active service in Afghanistan and rose to the rank of Captain.

It was a distinguished career that was brought to a premature end by sexual abuse and whistleblowing.

Having taken the difficult decision to leave the army she now leads a secluded life and suffers poor mental health.

Katie (centre), who resigned from the armed forces after alleged sexual abuse, as a serving RMP officer
Image:
Katie (centre), who resigned from the armed forces after alleged sexual abuse, as a serving RMP officer

“I still struggle,” she says. “I’m still very wary of men. My relationship is strained.

“Everything seems like black and white now, like I live my life in black and white rather than full colour… As a person, it has changed my life forever.”

To begin with, she was in the same unit that Gunner Beck would join years later. She too experienced harassment and abuse, and says her line manager “laughed” when she reported it.

“I just felt like dehumanised, I felt like property, I didn’t feel like a person anymore,” she says.

Army abuse still

“And so I would avoid people… I would hide in the garages, behind the tanks, in between the guns, just praying that these people hadn’t seen me and I might be able to escape them for that day.”

She moved to a different unit but says wherever she went, abuse was rife. After being groped by a higher-ranking colleague, she assumed her chain of command would escalate her report to the RMP.

Instead, she says she was “put in front of the Sergeant Major and told off”.

“I remember at the time saying I’d like to call the civilian police, and I was told that I wasn’t allowed to do that and I’d be disciplined if I tried to do that,” she said. “So I was so frightened.”

She stayed in the army, hoping to make a difference. As an officer, she began reporting abusers on behalf of younger victims.

“I kept this goal in my head of reaching a position one day where I could help other women,” she said. “When I got there, I realised that it was way more toxic than I could have ever imagined.

“The officer corps were actually the worst perpetrators of all because they brushed it under the carpet. There was a will and a need more to protect themselves or their friends. Or the reputation of the unit first and foremost.”

She believes changes made by the MoD since the death of Gunner Beck to remove the chain of command from sexual abuse investigations will make “little difference”, saying they’ll still be carried out by “the same people, but just under a new title”.

Do you have a story you would like to share?

Email: sky.today@sky.uk or WhatsApp 07583 000 853

‘They should be held accountable’

An MoD spokesperson told Sky News that “unacceptable and criminal behaviour has absolutely no place in our Armed Forces”.

They added: “That is why this government is creating a new Tri-Service Complaints team to take the most serious complaints out of the chain of single service command for the first time, and has launched a new central taskforce on Violence Against Women and Girls to give this issue the attention it deserves.

“We are also establishing an independent Armed Forces Commissioner with the power to visit defence sites unannounced, and to investigate and report to parliament any welfare matters affecting service life.”

Amy believes the RMP is not fit for purpose.

“They have higher standards to uphold, yet they don’t uphold them within their own regiment, within their own lives, and then they’re expected to police and uphold those standards throughout the rest of the army,” she says.

“At the end of the day, they know the law and they should be held accountable for what they do.”

Anyone feeling emotionally distressed or suicidal can call Samaritans for help on 116 123 or email jo@samaritans.org in the UK. In the US, call the Samaritans branch in your area or 1 (800) 273-TALK

Continue Reading

Trending