10 h. ago Milan Mandaric, 86, to fly to UK and launch rescue bid for crisis

Sheffield Wednesday are in turmoil under owner Dejphon Chansiri after being banned from spending for the next three windows and former owner Milan Mandaric wants to buy the club back before it is "destroyed"

Events

8 d. ago Put Thames Water into temporary state control, ‘junior’ creditors will argue

£5bn rescue plan would set ‘troubling precedent’, bondholders who face losing all of their money will sayNils Pratley: Thames Water’s creditors are being too greedyBusiness live – latest updatesThames Water should be placed into temporary government control to avoid setting a “deeply troubling precedent”, according to people close to bondholders who face losing all of their money in the latest rescue bid.The struggling utility is under the control of a group of lenders who hold the bulk of its huge £20bn debt pile. Those “senior” creditors on Tuesday revealed details of a last-ditch rescue effort with £5bn in funding, alongside writing off about £6.7bn in debt. Continue reading...

Politics

8 d. ago Put Thames Water into temporary state control, say ‘junior’ creditors

£5bn rescue plan would set ‘deeply troubling precedent’, say bondholders who face losing all of their moneyNils Pratley: Thames Water’s creditors are being too greedyBusiness live – latest updatesThames Water should be placed into temporary government control to avoid setting a “deeply troubling precedent”, according to bondholders who face losing all of their money in the latest rescue bid.The struggling utility is under the control of a group of lenders who hold the bulk of its huge £20bn debt pile. Those “senior” creditors on Tuesday revealed details of a last-ditch rescue effort with £5bn in funding, alongside writing off about £6.7bn in debt. Continue reading...

Politics

2 w. ago US private equity firm KKR drops bid to buy troubled British utility Thames Water

British utility Thames Water says a U.S. investment firm has dropped a rescue bid for the debt-burdened company

Economics

4 w. ago Pete Townshend remakes Quadrophenia for a new generation: ‘The world is a dangerous place at the moment’

It may be set 60 years ago, but a new ballet version of The Who’s rock opera asks questions about youth, society and masculinity that still resonate – and it brought its original creator to tearsDeckchairs fly, arms clash, bodies launch into the air as mods and rockers engage in a fierce Brighton seafront battle. But in this east London dance studio – with Zaha Hadid’s Olympic swimming pool visible through the window – young performers in sports socks, joggers and baggy T-shirts are reimagining the Who’s seminal document of the mid-60s Quadrophenia as ballet.Isn’t this 1973 album an unlikely subject for dance? We’ve recently had Black Sabbath: The Ballet, and Message in a Bottle set to Sting, so why not? After all, Quadrophenia is theatrical at its roots. “The closest thing to a grand opera I’ll ever write,” says the Who’s guitarist and songwriter Pete Townshend. Set in 1965, the story of disaffected young mod Jimmy looking for meaning in life via music, amphetamines ...

Politics

last month China's drone mothership: Weapons aircraft with 82ft wingspan can fly for 12 hours and 'launch 100 kamikaze UAVs in seconds'

Dubbed the Jiu Tun, meaning Sky High, the UAV boasts an 82ft wingspan and can fly for 12 hours, more than enough time to wreak havoc in Taiwan, Japan, or even Pacific US bases.

Events