Major Shifts in UK Financial and Political Landscape

Key highlights from the Financial Times include HSBC's strategic overhaul to better balance operations between the east and west, UK's water regulator Ofwat's expected bill increases and potential structural changes, Rheinmetall's arms production collaboration with the UK, and Donald Trump's accusations against the UK Labour party concerning US elections.

In a sweeping strategic move, HSBC, under the guidance of new CEO Georges Elhedery, is set to reorganize its operations between east and west to cut costs and effectively manage geopolitical challenges.

Britain's water industry is poised for change, as regulator Ofwat signals a willingness to approve higher bill charges to enable necessary infrastructural investments, while undergoing a potential overhaul to safeguard consumer interests.

Meanwhile, the German defense company Rheinmetall plans to produce gun barrels within the UK, enhancing military cooperation between Berlin and London. In political news, Donald Trump has filed a legal complaint against the UK's Labour party, accusing it of unlawful interference in favor of Kamala Harris in the US Presidential race.

(With inputs from agencies.)