Allies of Donald Trump and Elon Musk, concerned about the damaging repercussions of their public feud for both political and commercial interests, have called on them to reconcile despite no immediate signs of a resolution.

Trump and Xi have toned down their language and agreed to a new round of trade discussions, with state invitations extended, the US President indicating imminent talks, and investors remaining cautious.

A newly proposed legislative measure, branded a “big beautiful bill,” is projected to raise US debt by $2.4 trillion, with critics highlighting anticipated shortfalls in tax receipts and accusing the oversight body of partisanship.

Thames Water faces mounting uncertainty as a major investor withdraws its multi-billion-pound rescue plan, fuelling concerns over possible renationalisation, political intervention and the utility’s future stability.