48 h. ago The water firms banned from paying bonuses to senior bosses under new laws

Campaign group River Action have called the move a “welcome step” but said that increased salaries should be prevented

Economics

58 h. ago 'Contemptible' Thames Water accused of 'telling lies to the British public' in dividends row

The scathing criticism came as peers discussed a collapsed rescue deal for the debt-laden firm

Politics

59 h. ago Eurozone interest rate cut expected; Tesla’s UK sales fall by a third – business live

Rolling coverage of the latest economic and financial newsStock exchange dealt another blow as £12bn fintech ditches main London listingUK trade secretary Jonathan Reynolds has also called for reforms of the WTO, including changes to the much criticised dispute resolutions system which can also take years to settle disputes between trading nations.Reynolds told the European Policy Centre security conference in Brussels:“We do recognise that reforming and repositioning the WTO so that it can respond more effectively to the challenges of today is the only way to safeguard long term stability and growth tomorrow.“Our eyes are fixed on greater flexibility in decision making, greater openness in the east of plurilaterals and building a fully functioning dispute settlement system,”“the trees that survive the storms aren’t the tallest. They’re the ones whose roots are intertwined with their lives.“Just in the past two days, during the OECD trade ministerial [summit] the message was clear a...

Economics

61 h. ago Eurozone interest rate cut expected; Tesla’s UK sales drop by a third – business live

Rolling coverage of the latest economic and financial newsThe UK car market has returned to growth, new data shows, but sales of Teslas have fallen by a third.Overall car registrations rose by 1.6% in May, to 150,070 units, according to the Society of Motor Manufacturers and Traders (SMMT). That’s the strongest May for new car sales since 2021, but 18% below pre-Covid levels. Continue reading...

Economics

62 h. ago 'Contemptible' Thames Water accused in Parliament of 'telling lies to the British public' in dividends row

The scathing criticism came as peers discussed a collapsed rescue deal for the debt-laden firm

Politics

63 h. ago Eurozone interest rate cut expected; fintech Wise delivers blow to London stock market – business live

Rolling coverage of the latest economic and financial newsMay was the busiest month for UK house sales since March 2022, new data from Rightmove this morning shows.Across Great Britain, the number of sales agreed is now 6% ahead of the same period last year, Rightmove reports. But London is lagging, with sales just 1% higher than a year ago. Continue reading...

Economics

3 d. ago Thames Water faces weeks of uncertainty as watchdog reviews £4bn creditor plan

Senior bondholders propose injecting equity to match KKR’s defunct bid but plan needs approval from Ofwat and courts

Economics

3 d. ago Northumbrian Water to pay out £15.7m after sewage and water network failings

Bosses at the watchdog Ofwat said the company’s failures led to ‘excessive spills from storm overflows’.

Economics

3 d. ago Thames Water creditors warn of "short and closing window" to agree rescue deal

A group of more than 100 creditors holding £13 billion of Thames Water debt said time is running out

Events

4 d. ago Thames Water nationalisation ‘not the answer’ says minister after private equity rescue fails

Future of Britain’s biggest water supplier in question as investor pulls out of turnaround plan

Events

4 d. ago Voices: If the government wants to save Thames Water, it’s going to need to get its hands dirty

As the very public rescue deal for the ailing company collapses, James Moore warns that the government needs to get its hands dirty to clean up the water industry. This game of pass the buck isn’t doing anyone any favours...

Politics

4 d. ago KKR cites political risk in withdrawal from Thames Water rescue deal

US private equity firm’s decision throws future of Britain’s largest water utility into doubt

Events

4 d. ago Public ownership ‘not the answer’ says Reed after Thames Water deal collapse

At the despatch box, Conservative shadow environment secretary Victoria Atkins accused ministers of having “talked themselves out of” a rescue plan.

Economics

4 d. ago Thames Water rescue takeover collapses after private equity firm KKR drops out

The troubled utility is taking forward talks with ‘certain senior creditors’ on an alternative plan to recapitalise the business.

Events

4 d. ago US private equity firm KKR drops bid to buy troubled British utility Thames Water

British utility Thames Water says a U.S. investment firm has dropped a rescue bid for the debt-burdened company

Economics

4 d. ago Thames Water dealt fresh blow as potential investor drops out of deal to prop up embattled firm

Thames Water now progressing talks with senior creditors for an alternative to stabilise finances

Economics

4 d. ago Business News: Water sector under pressure as Thames deal collapses while M&S boss sees pay rise to £7.1m

From calls to overhaul the water industry and Thames Water’s failed investor talks, to Greg Hands’ new role at Royal Mail and a £7.1m payday for the M&S boss - here are today’s top UK business stories.

Economics

4 d. ago Global economy to slow as Donald Trump’s trade wars hit growth, OECD warns – business live

Rolling coverage of the latest economic and financial news, as OECD forecasts global growth will slow to 2.9% in 2025 and 2026UK will slump to 1% growth next year as Trump tariffs bite, says OECDUS firms say Trump trade war is hitting production as dollar nears three-year lowUS economic growth is expected to slow markedly to 1.6% in 2025 and 1.5% in 2026, the OECD says.That’s relatively weak growth by recent standard, and slower than the “robust” growth of 2.8% recorded in 2024.Annual headline inflation is set to pick up to 3.9% by end-2025 due to higher import prices but is expected to ease throughout 2026, aided by moderate GDP growth and higher unemployment.Risks to the growth projection are skewed to the downside, including a more substantial slowing of economic activity in the face of policy uncertainty, greater-than-expected upward pressure on prices from tariff increases, and large financial market corrections. Continue reading...

Events

4 d. ago New York private equity giant KKR pulls out of Thames Water rescue

Thames Water boss says he is “disappointed” by KKR’s decision

Events

4 d. ago Private equity giant KKR pulls out of plans to invest in Thames Water

The utility said it would take forward discussions with ‘certain senior creditors’ on an alternative plan to stabilise its finances.

Economics