6:25 am, September 3, 2025
Thames Water creditors outline £20.5bn investment aims under rescue plans
A group of Thames Water lenders have set out plans on how they would deliver £20.5bn of investment to turn around the troubled supplier’s performance as they look to secure a rescue of the firm.
The supplier’s main creditors – led by a team of 15 investors called the London & Valley Water consortium – have pledged to ‘fix the foundations’ of Thames Water with the mammoth spending proposal put forward to regulator Ofwat.
They are promising an increased focus on improving Thames Water’s poor pollution performance and record on leaks, with targets to cut sewage spills by at least 135 a year.
Kraft Heinz to split in two ‘to unleash power of brands’
Kraft Heinz will split into two independent companies, a decade after its mega-merger, to address recent struggles and simplify operations.
The ketchup and beans maker said the move will maximise brand potential while cutting complexity.
Global Taste Elevation Co will handle global sauces and tinned products, including Heinz, Philadelphia and Kraft Mac & Cheese. Meanwhile, North American Grocery Co will focus on staples in the US and region, managing brands like Oscar Mayer, Kraft Singles and Lunchables.
Hyundai reveals design sketch of compact Concept Three EV
Hyundai has revealed a design sketch of its compact EV with the Concept Three.
Should it make production, the car would rival the likes of the new Renault 4 and will sit above the compact Inster and below the larger Ioniq 5 in the firm’s EV model line-up.
Simon Loasby, senior vice president and head of Hyundai Design Centre, said: ‘Designing the Concept Three was an opportunity for us to rethink the compact EV from the ground up. We defined the “Aero Hatch” typology to craft a silhouette that captures a sense of flow and becomes a beautifully proportioned sculpture.’
The markets
Stocks in London fell sharply on Tuesday and the pound sank, unnerved by a renewed spike in bond yields.
The FTSE 100 index closed down 79.65 points, or 0.9%, at 9,116.69. The FTSE 250 ended 470.80 points lower, or 2.2%, at 21,162.89 and the AIM All-Share finished down 3.07 points, or 0.4%, at 765.57.
The pound dropped to 1.3389 dollars late on Tuesday afternoon in London, compared with 1.3548 at the equities close on Monday.
Police dealt with more than 3,000 protests in three months over the summer
Police across the UK dealt with more than 3,000 protests over three months this summer, amid what a senior officer called ‘a climate of increasing tension and polarity’.
Figures from the National Police Chiefs’ Council showed that there were 3,081 protests in June, July and August across England, Wales, Scotland and Northern Ireland. This compares with 2,942 last summer, during a time of rioting, and 928 in 2023.
Recent months have been dominated by both mass protest action against the ban on Palestine Action, and demonstrations linked to the housing of asylum seekers in hotels.
Europe’s Gaza response has been a ‘failure’, says Spanish PM
Europe’s response to the conflict in Gaza has been a ‘failure’ and risks undermining its global credibility, according to Spain’s prime minister.
Ahead of a meeting with Sir Keir Starmer in London, Pedro Sanchez – the first European leader to accuse Israel of committing genocide in Gaza – told The Guardian the conflict represents ‘one of the darkest episodes of international relations in the 21st century’.
‘It is a failure,’ he said. ‘Absolutely. It is also the reality that, within the EU, there are countries that are divided when it comes to how to influence Israel.’
Tuesday on Car Dealer
Research reveals just SIX electric cars could qualify for the full £3,750 Electric Car Grant
Car Dealer research has found that just a handful of cars may eventually qualify for £3,750 discount.
Video: Dealers hold used car prices firm in August as values barely budge
Used car prices at car dealerships have barely moved in the last month as dealers hold their own in the face of reduced supply.
JLR left unable to register cars on new plate day as global IT issue wreaks havoc
It’s traditionally one of the busiest days of the automotive calendar but a global IT issue left JLR dealers unable to register cars on new plate day.
Some say… Top Gear’s former Stig is now the making waves in the world of Japanese imports
He’s best known for his seven-year stint as Top Gear’s mysterious racing driver but former Stig Ben Collins has now stepped out of the shadows and turned his attention to the world of Japanese imports.
Seven more EVs added to government’s Electric Car Grant – but they only get £1,500 price cut
Another trickle of EVs have become eligible for the government’s £650m Electric Car Grant (ECG) amid industry frustration with the ‘confusing’ incentive scheme.
New Smart #2 electric two-seater will take brand back to its quirky tiny-car roots
Smart has confirmed it will build a successor to its most iconic model, the ForTwo
Dealer group Arnold Clark offers £750 incentive on used cars with own Electric Car Grant
While carmakers are grappling with the government’s Electric Car Grant on the sale of new electric cars, dealer group Arnold Clark is incentivising sales of used EVs.
Weather
Heavy rain moves north today, clearing to sunny spells and scattered showers in the south, while the north-west stays mostly dry; windy in the south, reports BBC Weather.
Tonight brings frequent heavy showers in Wales and southern England, with drier conditions elsewhere apart from isolated showers on north-west coasts.
