5 important things happening in the UK today
Here are 5 important things happening in the UK today – 3 June 2025.
- Thames Water blow: US alternative asset manager KKR & Co has pulled out of Thames Water’s equity raising process in a fresh blow to the beleaguered company. The setback increases the possibility that the company will collapse into a government-supervised administration. [Bloomberg]
- Water review: Thames Water’s latest blow comes as a new independent review has found that the water sector in England and Wales is failing and needs stronger regulation to better protect billpayers and the environment, according to the interim findings of a landmark review. [BBC]
- Reeves showdown: Rachel Reeves is facing a showdown with four leading cabinet ministers as her spending review goes down to the wire, in spite of allies’ claims that the chancellor is increasing spending by £300bn over the parliament. [Financial Times]
- M&S boss pay under scrutiny: M&S boss Stuart Machin received £7.1 million for the last financial year, up nearly 40% on the £5.1 million he took home a year earlier. Machin is facing questions after a cybersecurity incident rocked M&S and prevented online sales for several weeks. [Guardian]
- On Tuesday, Oil was trading slightly lower at $64.81 a barrel. The pound was trading at £1.35 to the dollar, £1.18 to the euro and £9.71 to the yuan.
