Iran and NATO summit live: CIA chief says Iran nuclear site 'severely damaged' by strikes, Trump responds to 'daddy' comments
CIA boss John Ratcliffe says Iran's nuclear programme has been "severely damaged" by recent strikes. Elsewhere, Donald Trump has responded to being described as NATO's "daddy" by Mark Rutte. Watch and follow live below.
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Times
30 minutes ago
- Times
Reform capital markets to boost British AI
T he UK's ambition to become a global leader in artificial intelligence is clear — £1 billion in public funding isn't small change. But ambition without infrastructure is just rhetoric — and currently the country's capital markets are not fit for purpose. Outdated listing rules, heavy regulatory burdens, and a lack of access to retail and pension capital are steadily pushing Britain's brightest technology businesses into the arms of foreign private capital or overseas exchanges. This is not just about AI. The UK is the world's third-largest technology ecosystem after the US and China. We lead in life sciences, advanced materials, and, increasingly, defence and security technologies — all areas that are buoyed by renewed EU and Nato spending. Britain is increasingly becoming a leader in defence and security technologies OLI SCARFF/AFP These fields require scale, patience and flexibility; precisely what public markets should offer. Instead, AIM and the main market at the London Stock Exchange are shedding listings at an alarming rate. Rather than building global champions in London, top-tier companies are taking Silicon Valley capital or floating on the Nasdaq to gain access to deeper liquidity and higher valuations. This matters because public markets offer scale, credibility and access to patient capital — and something private capital often does not offer: independence. Companies can raise substantial funds without ceding board control or investor consent rights, loading up on debt, or being pressured into an early exit. This is especially vital in biotech and defence, where long-term research and development needs room to breathe. Public equity enables bold innovation, not just the path to acquisition. Yet our system is holding businesses back. Advisory fees remain high, disclosures are excessive, and digital tools are underused. Prospectus production, investor roadshows and compliance remain stubbornly analogue, adding needless cost and delay. At the same time, domestic capital is missing in action. UK pension funds and retail investors are sitting on deep pools of money, but they are largely absent from growth-stage equity. Allocations to UK equities have fallen below 5 per cent, down from more than 50 per cent in the 1990s. This is not just an investment gap, it's a strategic failure. We're training technology experts here, only to fund their growth and success abroad. Reform is urgent. First, digitise the listing process: templated prospectuses, AI-enabled drafting, online roadshows. Second, strip out non-material disclosures and cap advisory fees. Third, unlock domestic capital: require small pension fund allocations to UK growth, expand Isa incentives, and scrap stamp duty to boost liquidity. And crucially, make public markets central to our national technology strategy, not a nostalgic footnote. If we want to build and keep the next wave of innovators, we need markets that work for them. David Ramm is a partner at the London office of the US law firm Crowell & Moring
Sky News
40 minutes ago
- Sky News
There were toe-curling displays of affection towards 'Daddy' Trump at the NATO summit - but like it or not, it worked
Donald Trump the "daddy" and a NATO summit marked by simpering gratitude. That was the overriding theme of a day-and-a-half of defence and diplomacy at The Hague. Like it or not, the fawning praise by Mark Rutte, the head of NATO, and many other European allies appears to have paid off, with the US president heading home seemingly back on board with the notion of collective defence - for now. The most toe-curling display of affection towards Mr Trump came when he, along with Mr Rutte, were speaking to reporters about how the US commander-in-chief brokered a ceasefire deal between Israel and Iran. "They've had a big fight, like two kids in a schoolyard," Mr Trump said. "You know, they fight like hell. You can't stop it. Let them fight for about two, three minutes, then it's easy to stop them." Mr Rutte added: "And then Daddy has to sometimes use strong language to get it stopped." I later asked Mr Trump at a news conference at the end of the summit about being called "Daddy" and whether he regards his NATO allies as children. The president said: "He likes me. I think he likes me. If he doesn't, I'll let you know. I'll come back and I'll hit him hard. Okay? He did it. Very affectionate. Daddy. You're my daddy." 1:14 I continued the question, though, to ask again whether he views fellow NATO member states as children and once they bolster their defences, might they be able to defend themselves without needing to rely on the US. The president said he thought they would still need help from the start. As for whether they could go it alone without the United States in the future, he said: "Ask Mark [Rutte]." For now, the feeling at the summit was more harmonious than hostile. 4:06 Whether that sentiment endures will depend on everyone being true to their word and increasing defence spending to a new target of 3.5% of GDP - up from 2% - with an additional 1.5% of GDP to be invested in national resilience. It adds up to 5% in total - a figure first touted by Mr Trump when he returned to the White House for his second term and resumed an attack on NATO, accusing too many of its members of freeloading off American security instead of paying to defend themselves. The US president, though, seemed to think the boost to budgets would be happening quickly, whereas the shortest timeline all 32 allies could agree to is 10 years. Spain has been even more flaky, agreeing to the new target but making clear it won't be met. As well as disappointing Mr Trump, such a slow pace of change is also woefully inadequate to rearm member states in time to confront what the Baltic states and Poland believe to be a very real risk of Vladimir Putin testing the alliance's defences within the next five years.
Daily Mail
an hour ago
- Daily Mail
Jake Tapper unloads on Trump for 'ugly' attack on CNN over Iran bombing report
Jake Tapper defended CNN's reporting on Donald Trump 's strikes against Iran 's nuclear facilities, while ripping the president's 'ugly attack' on the press. The administration has rubbished reports by both CNN and the New York Times that the damage to Iran's nuclear facilities from Saturday night's bombing was not as severe as they had hoped, while simultaneously demanding the person who leaked incomplete intel be jailed. Tapper went off on Trump during his Wednesday show: 'Today, President Trump and his administration are going after shooting the messengers in an increasingly ugly way.' He also defended Natasha Bertrand, the CNN reporter who broke the story and whom Trump said should be fired. 'They're calling journalists 'fake news' for true stories. They're calling for an excellent CNN reporter, Natasha Bertrand, to be fired, which is preposterous — and to which a CNN statement today reads, 'we stand 100 percent behind Natasha Bertarnd's journalism, as they should,' he continued. The anchor added: 'The Trump administration is also accusing any news media who reports on this intel assessment as not being patriotic.' Tapper went into a dissection of CNN's reporting on the matter, saying that the Defense Intelligence Agency's assessment of the bombing was 'low confidence... meaning that the DIA is far from sure about it.' 'It was described to CNN by seven people briefed on the DIA assessment, and our reporting stressed that the assessment's conclusion could evolve as new information comes to light,' he said. Tapper claimed that CNN reached out to the White House before broadcasting the story and that the administration 'attacked the assessment but confirmed it exists.' 'Even President Trump himself today confirmed it,' he said. Tapper said he was not criticizing the troops who executed the strikes, saying they 'honor and respect' them. 'The key questions for the American people in the world are simply about the degree of success of the operation, and the current state of Iran's nuclear weapons program and what the intelligence — not the politicians — what the intelligence reveals,' Tapper said. 'Our obligation as journalists is not to praise President Trump, or protect his feelings, or to disparage him, or to praise him — for that matter. Our obligation is to report facts. In this case, the fact is that an initial DIA intel assessment out of Secretary Pete Hegseth's own Pentagon exists. And that's not going to change, no matter how many insults Trump levels.' As he ended the segment, he again pointed out that they 'don't know' whether their reporting or the administration's claims are accurate yet. 'That's the point of publishing what we know that the government learns, once we learn it. The news media needs to press for facts, even if it's uncomfortable. Even if, as Americans and as humans, there is a personal instinct to rally around the flag.' He finished: 'Asking questions is literally our job, demanding facts and answers, instead of just taking a president's word for it. History has taught us that the most pro-service member action we can take is to ask questions of our leaders, especially in times of war. That, for journalists, is the height of patriotism.' The leaked report from the Pentagon's Defense Intelligence Agency (DIA) reportedly states that the U.S. strikes only delayed Iran from getting a nuclear weapon by a couple of months. Defense Secretary Pete Hegseth said the FBI has taken the lead on conducting the probe after CNN, the New York Times and other outlets disclosed the report's findings. 'We're doing a leak investigation with the FBI right now, because this information is for internal purposes, battle damage assessments, and CNN and others are trying to spin it to make the president look bad,' he said during a NATO meeting alongside Trump and other top officials on Wednesday. The Pentagon chief defended the president like an attack dog, claiming the Fordow nuclear enrichment site was 'obliterated.' Flanked by Trump, Secretary of State Marco Rubio, NATO Secretary General Mark Rutte and White House Chief of Staff Susie Wiles, Hegseth also mentioned how the classified document was only a preliminary assessment. 'It was a top secret report, it was preliminary, it was low confidence,' the Pentagon secretary explained. 'Given the 30,000 pounds of explosives and capability of those munitions, it was devastation underneath Fordow, and the amount of munitions, six per location, any assessment that tells you something otherwise is speculating with other motives.' He added that the preliminary DIA battle damage assessment indicated 'moderate to severe' damage was done to the facility. The administration, Hegseth continued, believes it was 'far more likely severe and obliterated.' Secretary of State Marco Rubio, who was sitting next to Hegseth, argued the leakers had an agenda. 'This is what a leaker is telling you the intelligence says,' he said of the report. 'That's the game these people play. They read it and then they go out and characterize it the way they want it characterized.' He added it was 'against the law' to leak the information and told the media the leakers 'characterize it for you in a way that's absolutely false.' Israeli military spokesperson Brig. Gen. Effie Defrin similarly said Wednesday that "it is still early to assess the results of the operation.' Though he added, 'I believe we have delivered a significant hit to the nuclear program, and I can also say that we have delayed it by several years.' In a Truth Social post on Wednesday afternoon, Trump revealed Defense Secretary Pete Hegseth would address the public at 8am Thursday morning to provide 'both interesting and irrefutable' proof about the success of the mission. Trump said the purpose of the conference is to 'fight for the Dignity of our Great American Pilots. 'These Patriots were very upset,' he said. 'After 36 hours of dangerously flying through Enemy Territory, they landed, they knew the Success was LEGENDARY, and then, two days later, they started reading Fake News by CNN and The Failing New York Times. 'They felt terribly!' Trump reminded them that the doubts about the success of the mission were 'as usual, solely for the purpose of demeaning PRESIDENT DONALD J. TRUMP.' His comments come after the CIA confirmed Ira n's nuclear facilities suffered 'severe damage' after the devastating airstrikes Saturday night. Trump had earlier suggested Hegseth's title should be changed to the 'Secretary of War' given the deteriorating situation in the Middle East, and kicked off meetings at the NATO summit on Wednesday by comparing Saturday's precision airstrikes to the two atomic bombings on Japan that ended World War II. 'I don't want to use an example of Hiroshima. I don't want to use an example of Nagasaki. But that was essentially the same thing. That ended that war,' he told reporters at The Hague. Seven B-2 bombers flew from the U.S. to Iran on Saturday to carry out what Pentagon officials have said is the most sophisticated stealth airstrike in decades. Each B-2 carried two 30,000 pound bunker buster bombs aimed at Fordow's nuclear labs hundreds of feet underground. The 14 bunker busters dropped on Fordow weighed a total of nearly 420,000 pounds combined, Pentagon chief spokesman Sean Parnell has said. 'Fake news, CNN and MSDNC, all of these terrible people, you know, they have no credibility,' Trump slammed the outlets reporting on the intel leak. 'The document said it could be very severe damage,' Trump said at Wednesday's NATO meeting. 'But they didn't take that.'
