Evening briefing Friday 13th March

0:00This episode of the Times Radio News Briefing is sponsored by PwCWC. Staying competitive means getting ahead, not just keeping up. So how do business leaders cut through the noise and focus on what really matters? PwC takes you further with tech, from optimising the systems that put your data to work, to scaling AI from proof of concept to competitive edge. PwC helps you meet tomorrow's tech demands, so you can compete at a speed that rewrites the rules. Discover more at pwc.co.uk

0:35This is the Times Radio evening briefing for Friday the 13th of March. A meeting between the Chancellor and energy suppliers at Downing Street has wrapped up despite a row over inflammatory language. The Petrol Retailers Association had threatened to pull out of the meeting after Rachel Reeves warned suppliers against exploiting the Iran conflict to make excess profits. Opening the meeting, she said they all shared the same goal. I do want us to work together to keep suppliers stable, to reassure the public and make sure that price rises are limited to what is absolutely necessary and no more.

1:09The Times business columnist Ian King says their outcomes as the price of oil is up 40%. Petra and diesel prices have not gone up to the extent that the wholesale price has. Now that's because it takes time for higher oil prices to feed through to the bump. So it's a bit rich, I think, of the government to accuse the retailers of profiteering. Certainly now, I mean, the language has been somewhat inflammatory. If the government is genuinely concerned about the price of petrol at the pumps, well, the quickest thing to do is introduce a VAT holiday. The American military has confirmed all six people aboard a refueling aircraft that crashed in Iraq have died.

1:44Officials say a mid-air collision with another refueling aircraft may have been to blame. The US Secretary of War called the dead American heroes. Pete Hegseth also claimed Iran's new leader, Mojtabar Khamenei, is wounded and in hiding, accusing Tehran of desperation over threats linked to the Strait of Hormuz. Speaking to reporters, he said Iran's leadership is now operating from civilian areas and bunkers. Desperate and hiding, they've gone underground, cowering. That's what rats do. We know the new so-called not-so-supreme leader is wounded and likely disfigured. His father, dead. He's scared, he's injured, he's on the run, and he lacks legitimacy.

2:24It's a mess for them. Who's in charge? Iran may not even know. More than thousands of Iranians have gathered to mark Al-Quds Day in Tehran, burning flags and chanting against Israel and the US. Among the crowds were President Pevzesh Kiyan and Kolam Hossein Mossaini, head of Iran's judiciary.

2:47People are not afraid of these attacks. As you can see, people have come out in the rain under these hardships. We will not back down in any way. Figures suggest hate crimes against Muslim people are almost twice as likely to end up in someone being prosecuted than those against Jewish people. Data from 35 of 43 police forces has been analysed by the Times. And the 11-4 joint favourite has romped to victory at racing's Cheltenham Gold Cup. The Times' Samantha Martin is there. Gaelic Warrior has won the big race, ridden by Paul Townend and Ford trainer Willie Mullins. And this is a record-breaking victory, actually.

3:25Paul Townend is now up to four Cheltenham Festival winners. You can follow the Times Radio News Briefing on Spotify and listen live to Times Radio online.

3:37This episode of the Times Radio News Briefing is sponsored by PwC. AI is everywhere. In the news, in our hands, but return on investment, not so much. So how do you get beyond the hype and deliver AI that powers reinvention and growth across your business? Strong foundations unlock AI's potential. That's why PwC takes you further with tech, strengthening the data quality, processes and workflows that shape how well AI performs. PwC turns innovation into implementation so you can accelerate from experiment to scale. Discover more at pwc.co.uk. At Brookfield, we invest in the thing behind the thing behind the next big thing.

4:24Our focus across infrastructure, energy, real estate, private equity, and credit is helping to build the backbone of the global economy. We combine deep operational expertise with disciplined long-term investing, uncovering value, and partnering alongside clients to shape tomorrow's economy today. Brookfield. Own what's next. Learn more at brookfield.com. This is not an offer to sell or investment advice. Investing involves risks, including loss of capital.