Ten Things You Need to Know Today: Thursday 7 Jul 2016

1. Blair: I believe we made the right decision

Tony Blair has responded to the fierce criticism contained in the Chilcot report into the Iraq war by saying: "I believe we made the right decision." The former PM, who appeared emotional and tired, was speaking at a two-hour press conference. Sir John Chilcot's inquiry concluded the UK took military action before it was a last resort.

2. Tory leadership race: MPs choose final two

Conservative MPs will today decide which of the three remaining leadership candidates to put before the party membership. Theresa May is still the out-and-out favourite, with Andrea Leadsom expected to take second place. Michael Gove's campaign manager has apologised for appealing to May's supporters to block Leadsom.

3. Brexit shock: Three more funds suspended

Another three property funds have been suspended as the financial shock from the EU referendum continues to be felt in the City. Henderson, Threadneedle Columbia and Canada Life stopped dealing after being swamped by investors wanting their cash back. Together, they invest £14bn in shopping centres, office blocks and warehouses.

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4. MPs reject proposed next head of Ofsted

The education select committee has rejected the government's choice for the next head of schools inspectorate Ofsted, Amanda Spielman, saying they have "significant concerns" about her suitability. Spielman, who has no previous experience of teaching or children's social care, failed to demonstrate "passion" or understanding, they say.

5. Children die as car plunges into loch

Two children aged two and three have died after the car they were travelling in veered off a road and into Loch nan Druimnean, near Oban, in the Highlands. A 36-year-old woman was taken to hospital and released later. She is believed to have escaped the vehicle after the accident, which occurred at around 4pm yesterday.

6. Briton denies wanting to kill Trump

A British man who was arrested at a Donald Trump rally in the US for allegedly trying to grab a gun from a policeman to shoot the presumptive Republican candidate has denied the charges. Michael Sandford, 20, from Dorking, has Asperger's syndrome but could face ten years in prison in the US if he is convicted.

7. Wales fairytale ends as Portugal win 2-0

Wales fans are philosophical after their national team ended its Euro 2016 run with a 2-0 defeat to Portugal. Led by the talismanic Gareth Bale, the country reached its first semi-final in a major tournament for two generations. Portugal were always the bookies' favourites, with the match their fourth semi-final in the last five Euros.

8. Flights cancelled as Taiwan braces for super typhoon

Thousands of soldiers are on standby in Taiwan, while flights have been cancelled and schools closed as a "super typhoon" approaches the coastline. Typhoon Nepartak could bring up to 19.5ins of rain in just a few hours, meteorologists say, which could trigger landslides. Hundreds of lives have been claimed in this way by previous storms.

9. Next Iron Man to be black teenage girl

The latest Marvel comic about Iron Man will see middle-aged white billionaire Tony Stark replaced by a 15-year-old black girl from Chicago. Riri Williams will be a science student at MIT. Fans reacted positively to the news, although some pointed out the story is still being written by middle-aged white men.

10. Prostitution: The pros and cons of decriminalisation

Politicians have called for reforms to the prostitution laws in England and Wales to give greater protection to sex workers and bring legislation in line with reforms in other countries. In an interim report, presented last week, the home affairs select committee of MPs said the Home Office should immediately introduce legislation to allow for solicitation by sex workers and to change brothel-keeping laws to allow workers to share premises.

The pros and cons of decriminalising prostitution