UK Faces Major Shake-Up in Water Regulation and Tech Policy Clash
Key stories from the Financial Times include UK's pledge to reform water regulation, a potential clash with the US over tech encryption, a 24-hour trading proposal by London Stock Exchange, and investors' concerns over insuring UK floods.
The UK government is preparing to undertake a significant overhaul of water regulation to cut sewage discharge incidents in half by 2030. Environment minister Steve Reed has criticized Ofwat, the water industry's financial regulator, for its failures.
Meanwhile, the UK is navigating tensions with the US government regarding access to Apple's encrypted customer data, according to senior British officials. The British administration is seeking a resolution to avoid further discord.
Additionally, the London Stock Exchange Group is contemplating rolling out 24-hour trading to cater to growing investor demand. On the climate front, Perry Thomas of Flood Re warned about the increasing financial risks associated with UK flood insurances.
(With inputs from agencies.)
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