Monday newspaper round-up: Ofwat, Fortnum & Mason, British manufacturers
By Michele Maatouk
Date: Monday 16 Jun 2025
(Sharecast News) - Bonuses and dividends for water company bosses and shareholders should be approved by the regulator before they are paid, as billpayer funds are being used irresponsibly, MPs have said. They also recommended that the government consider ending the profit-driven water company model and making English companies non-profit, similar to how the system works in Wales, in the report by the Environment, Food and Rural Affairs (Efra) select committee. - Guardian
The government has pledged a further £590m towards Britain's biggest road-building project, the controversial and long-delayed Lower Thames Crossing. In March, the transport secretary gave formal approval to the new road tunnel under the Thames joining Essex and Kent. The £9.2bn project will comprise more than 14 miles of roads including the 2.6-mile crossing near Thurrock, Essex. - Guardian
The US has dropped out of the three most desirable markets for British manufacturers for the first time in decades, as Donald Trump's trade war dents confidence in the world's biggest economy. UK industrial leaders now prefer the EU, Asia and the Middle East as their top three "growth" markets globally, according to trade body Make UK - relegating the Trump's America to fourth spot. - Telegraph
Fortnum & Mason is plotting its first UK stores outside of London after a surge in customer demand for regular top-ups of luxury teas, biscuits and jam. Tom Athron, the chief of the luxury retailer, said he would be interested in opening stores "up the spine of the country", adding: "We do like the idea of stepping beyond Piccadilly [where it has its flagship store], and certainly stepping beyond London." - Telegraph
Richard Caring has apologised to suppliers of his restaurant businesses after a letter was sent out informing them there would be a "mandatory" 2.5 per cent cut to their invoices. Caring's restaurant empire, which includes The Ivy Collection and Bills, wrote to suppliers earlier this month telling them that "to ensure our business can remain strong" a 2.5 per cent "discount" would be applied to their accounts. - The Times
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