The City watchdog has admitted that it should be investigated over failings relating to the collapse of investment firm London Capital & Finance.

The Financial Conduct Authority (FCA) said that a probe should be carried out by an independent person, looking into whether the regulatory system adequately protects retail purchasers of mini-bonds from unacceptable levels of harm.

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In addition, the FCA's supervision of LCF should be put under the microscope, it was reported.

LCF went into administration at the end of January.

Superdry founder Julian Dunkerton is gearing up for a crunch shareholder vote.

Mr Dunkerton will face an investor ballot on his comeback on Tuesday having left the board last year, but his campaign has so far failed to gain major traction.

Thames Water has unveiled its renewed business plan after the industry regulator said its previous efforts were not good enough.

Under the new plan, the company aims to reduce combined bills by 1.3%, giving the average customer a discount of £5 before inflation by 2025.

Overall, Thames Water aims to reduce the budget for the five years from 2020 to £10.9 billion, down from £11.7 billion.