Power Shifts in Finance: Tesla's UK Entry and Deutsche Bank's Expansion

Top stories in the Financial Times highlight significant developments: Tesla obtains a license to supply electricity in the UK, Deutsche Bank seeks to expand its private credit offerings, Lloyds faces scrutiny over an IT glitch, and the FCA warns of action on mis-selling of 'second charge' mortgages.

Elon Musk's Tesla has secured a license to supply electricity to households and businesses in the UK, marking a major step in the company's expansion within the country's energy market. This move has Tesla poised to deepen its influence in the UK's power sector.

Meanwhile, Deutsche Bank is looking to broaden its private credit offerings amid growing investor concerns about credit quality in the financial sector. This expansion highlights a strategic push to capture more market share despite prevailing uncertainties.

In regulatory news, the Financial Conduct Authority has issued warnings regarding mis-selling in the 'second charge' mortgage sector, signaling imminent action against malpractice. Additionally, Lloyds Banking Group is under scrutiny following an IT glitch that compromised customer privacy by displaying other users' account information.

(With inputs from agencies.)