Business news live: FTSE 100 opens lower after UK-US trade deal is signed

Anglian Water has revealed stronger income on the again of value will increase for households, because the water provider additionally reported one other soar in money owed over the previous yr.

The utilities agency, which gives companies to seven million individuals within the east of England, additionally revealed a rise in air pollution incidents over the yr.

Anglian revealed on Friday that revenues grew by 7.5% to £1.75 billion for the yr to March 31, in contrast with a yr earlier.

The rise was linked to cost will increase of 8.6% throughout the yr.

Earlier this yr, the corporate stated it was placing up payments by an extra 19%, to a mean of £626 a yr, for the 2025/26 monetary yr from April.

Nationwide members will vote on a proposed new pay bundle for chief government Debbie Crosbie subsequent month, which may see her earn as much as £6.9m.

Earlier pointers had seen Ms Crosbie in a position to earn as much as £4.8m, making this a 43% potential enhance, relying on reaching standards for bonuses.

Nationwide say the rise is on the again of each rivals upping their pay ranges significantly and on the again of Nationwide’s £2.9bn takeover of Virgin Cash, which Ms Crosbie efficiently led.

Ms Crosbie is the one lady to guide one of many UK’s so-called massive six.

Nationwide returned greater than £2bn to clients this yr following the Virgin Cash takeover.

Insurer Aviva has stated its £3.7 billion takeover of rival Direct Line is ready to finish subsequent month after “constructive” talks with the competitors watchdog.

The Competitors and Markets Authority (CMA) isn’t because of report again on its so-called section one investigation on the takeover till July 10 however Aviva stated it was “assured” of receiving the all-clear for the deal.

“Following constructive engagement with the CMA, Aviva stays assured of securing unconditional clearance by the section 1 statutory deadline,” it stated.

Aviva is urgent forward with plans for a courtroom listening to to sanction a July 1 completion of the takeover, which was first introduced on December 23 final yr.

The mixed group will probably be a big power within the motor insurance coverage sector, estimated to cowl greater than a fifth of the entire UK market.

A coalition report by eight inexperienced teams has proven that $869bn (£640bn) was handed out as funding by the world’s largest banks to firms engaged in fossil fuels.

Gasoline, oil and coal firms reversed the pattern which had been a decreasing of finance over the earlier three years, amid a worsening local weather disaster.

JPMorgan Chase lent probably the most in response to the report, at greater than $53bn.

Loads of crimson on the market within the early minutes of buying and selling this morning.

The FTSE 100 is 0.56 per cent down, whereas for the 250 it’s 0.2pc and for the AIM it’s 0.24pc.

Europe is the same story, with France’s CAC 40 down 0.8pc, the German DAX down 1.55pc and Spain’s IBEX 35 on the similar determine.

Just one firm within the UK’s benchmark index is up greater than 1 per cent this morning: BP, the largest riser at 1.4 per cent.

Yesterday we heard information of a possible Metro Financial institution buyout; at the moment one other excessive road title is on the watchlist.

TSB is owned by Spanish financial institution Sabadell, however the mother or father agency has confirmed there’s curiosity from bidders and is ready to “assess any potential binding presents”.

TSB was purchased by Sabadell from Lloyds ten years in the past.

Good morning and welcome again to our rolling enterprise dwell updates.

Immediately there’s loads coming as much as begin a busy midweek: Ashtead and Informa are amongst these with financials on the agenda, we’ll hear extra concerning the UK-US commerce deal and we’ll have all of the inventory markets information because it comes too.

Keir Starmer has steered the commerce deal between the UK and US will probably be in impact “very quickly”.

“I am definitely seeing President Trump at the moment, and I will talk about with him our commerce deal,” Starmer instructed reporters at a G7 assembly.

“I am very happy that we made that commerce deal, and we’re within the remaining phases now of implementation, and I count on that to be accomplished very quickly.”

Vehicles, metal and beef had been among the many finer factors being debated in that tariff deal.