Top Financial Stories: Thames Water Loan Approval and UK Trade Secretary's Tariff Battle

Thames Water secures a 3-billion-pound loan, averting a state rescue. UK Trade Secretary Reynolds seeks to counter US tariffs, with a focus on digital services tax. Crispin Odey faces FCA ban. EU investigates aluminium imports affected by US tariffs.

Thames Water, the largest water supplier in Britain, has gained approval for a controversial 3-billion-pound debt package. This financial lifeline circumvents an immediate state bailout as appeals against the loan were overruled.

In other significant moves, UK Trade Secretary Jonathan Reynolds is strategizing to mitigate the potential imposition of hefty US tariffs. The digital services tax stands as a contentious issue between the UK and the current US administration.

Meanwhile, the Financial Conduct Authority (FCA) has imposed significant penalties on Crispin Odey, founder of Odey Asset Management, now banned from the financial industry citing integrity issues. Concurrently, the European Commission is conducting an investigation into aluminium imports following disruptions caused by US tariffs.

(With inputs from agencies.)