6:47 am, May 29, 2025
Thames Water hit with biggest ever fine of £122.7m over pollution and dividends
Thames Water has been fined £122.7m after two investigations into wastewater and dividend payments – the largest penalty Ofwat has ever issued, the regulator said.
The utility giant will pay £104.5m for breaches of rules relating to its wastewater operations, after Ofwat said it ‘failed to protect the environment’.
Thames Water will pay an extra £18.2m for breaking rules related to dividend payments, the first ever dividend-related fine in the industry, Ofwat said. Ofwat said the money must be paid by the utility giant and its investors, not by customers.
High street bank branches are ‘thriving’, Nationwide says
Nationwide Building Society has said its bank branches are ‘thriving’ with more customers coming through the doors over the past year as rival banks slash their high street network.
The building society has pledged to keep all of its nearly 700 branches open until at least the start of 2028.
New data from the group revealed that nearly 200,000 more customers used its branches in the financial year to the end of March, compared with the prior year. The firm’s full-year results will be published today.
New Renault 4 arrives priced from £26,995
Renault has announced its latest 4 will be priced from £26,995 ahead of its on-sale date in July.
Three specifications will be available from launch – Evolution, Techno and Iconic – while a canvas roof version called ‘plein sud’ will be available on the latter two trim levels ‘at a later date’, according to Renault.
Standard spec includes 18-inch diamond-cut alloys, a 10-inch infotainment system with wireless Android Auto and Apple CarPlay, cruise control and rear parking sensors. There’s only one battery and motor offered – a 52kWh pack with a 148bhp – with a range of up to 247 miles.
The markets
The FTSE 100 lost ground on Wednesday as recent positivity wavered in the face of rising bond yields. London’s top index finished down by 0.59%, or 52.04 points, to close at 8,726.01.
Elsewhere in Europe, optimism earlier this week after US-EU trade talks appeared to be fading away, with traders looking unfavourably upon a lack of news regarding the talks. The Cac 40 ended 0.47% lower for the day and the Dax index was down 0.66%.
The pound was 0.29% lower at 1.346 US dollars and was up 0.06% at 1.192 euro when London’s markets closed.
Police continue to question Liverpool parade suspect
Police are still questioning a driver who allegedly ploughed into a crowd at Liverpool FC’s victory parade.
Officers were granted further time to question the 53-year-old man, from West Derby, Liverpool, who is in custody on suspicion of attempted murder, dangerous driving and drug driving, Merseyside Police said. The extension came in on Wednesday and remains until Thursday.
A Merseyside Police spokesman said seven people remained in hospital in a stable condition after the collision on Water Street on Monday and they had identified 79 people who were injured in the incident.
Elon Musk leaves Trump administration after criticising ‘big beautiful bill’
Elon Musk is leaving his government role as a top adviser to US President Donald Trump after spearheading efforts to reduce and overhaul the federal bureaucracy.
‘As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,’ he wrote on X. ‘The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.’
Musk’s departure comes one day after he criticised the centrepiece of Trump’s legislative agenda, saying he was ‘disappointed’ by what the president calls his ‘big beautiful bill’. The legislation includes a mix of tax cuts and enhanced immigration enforcement.
Wednesday on Car Dealer
Police investigating after used car dealer’s stolen Porsche is used in shocking ram raid
A Porsche Cayenne stolen from YouTuber Joe Betty’s dealership was used in a ram raid on an Asda store. Thieves broke into an MOT centre, stole two vehicles, caused major damage, and fled. Police investigations are ongoing with limited leads.
Car dealer Hartwell sees profit and turnover tumble in ‘challenging yet resilient year’
Hartwell’s 2024 profits plunged nearly 70% to £301,000 amid falling revenues, rising costs, and reduced manufacturer bonuses. After tax, it posted a £1.75m loss. Despite strong used car demand, stock sourcing challenges and new car sales declines hurt performance.
Former Jeep boss Antonio Filosa succeeds Carlos Tavares as CEO of Stellantis
Antonio Filosa has been appointed CEO of Stellantis, succeeding Carlos Tavares after his sudden exit. With 25 years’ industry experience, Filosa was unanimously chosen by the board and will take over June 23, leading through a challenging industry period ahead.
Car dealers report rise in fraud cases as experts warn motor traders to be on their guard
Car dealers face rising fraud threats, with 20% hit and 31% targeted unsuccessfully. Now, 79% are concerned about fraud’s impact. Many are implementing ID checks, training, and fraud software. Close Brothers urges greater vigilance and investment in fraud prevention tools.
Tesla endures torrid month of European sales despite booming EV market
Tesla’s European sales plummeted 49% in April to 7,261 units, despite overall EV market growth. Analysts cite backlash against Elon Musk, aging models, Chinese competition, and political tensions. In contrast, total battery-electric vehicle sales rose 28% across 32 European countries.
Weather
Today will be windy with sunny spells and variable cloud, reports BBC Weather. Rain clears for most, but light showers persist in western areas, especially Scotland and northern England. The south-east stays warm.
Tonight, patchy rain affects central Scotland, northern England, and Wales; elsewhere remains mostly dry with variable cloud and some clear skies.
