(Bloomberg) -- United Utilities Group Plc plans a £525 million-package to help customers afford higher water bills. The company said, as a result, it doesn’t expect water poverty to increase. Overall bills are set to rise by an average 35% for households in England by the end of the decade. 

Key Business News

Peel Hunt Ltd.: The company said investment-banking revenue in the first half of 2023 was significantly ahead of the same period last year, but overall deal activity remained subdued.

• The City of London firm has expanded its pipeline of private capital markets and debt advisory transactions

Nationwide Data: UK house prices held up better than forecast in September as the recent surge in mortgage rates showed signs of easing.

BAE Systems Plc: The company is getting almost £4 billion in funding from the Ministry of Defence for the next phase of the UK’s nuclear-powered attack submarine program.

What’s Next? 

Results from online fashion retailer Boohoo Group Plc tomorrow are expected to show the continued impact of shoppers’ return to physical stores. 

Growth Fund

The UK government is considering copying the Canada Growth Fund to help channel investment into green technology and fast-growing businesses in a bid to boost the economy.

Key Headlines

• UK’s Hunt to Offer Wage Boost for Lowest-Paid Amid Tax Cut Calls
• UK Retailers Demand Crackdown to Stop Wave of Shoplifting
• London on Cusp of Becoming Biggest Stock Market in Europe, Again

For a more considered take on the UK's economic and financial news, sign up to Money Distilled with John Stepek.

--With assistance from Maggie Shiltagh.

©2023 Bloomberg L.P.