5 h. ago Thames Water investors beg Keir Starmer to step in and save debt

Investors of Thames Water are begging Keir Starmer for a bail out as Britain's biggest supplier crumbles under crippling fines and could be facing collapse.

Economics

3 d. ago US private equity giant KKR outbids rival with £1.7bn offer for Assura

Assura said it had reached an agreement on a ‘best and final’ bid led by Kohlberg Kravis Roberts and Stonepeak Partners.

Economics

3 d. ago US private equity giant KKR wins takeover battle for Assura in £1.7bn deal

Assura said it had reached an agreement on a ‘best and final’ bid led by Kohlberg Kravis Roberts and Stonepeak Partners.

Economics

4 d. ago Thames Water LIVE: Thousands of east London homes without water supply

Thames Water has apologised to customers after thousands of households across east London have been left without water including those in Whitechapel, Shoreditch, Spitalfields and Bethnal Green

Society

4 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

4 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

5 d. ago Thames Water lenders offer £17 billion rescue deal in return for looser rules

The deal would also see “several billion” pounds’ worth of debt written off

Economics

5 d. ago Creditors table £17bn plan for Thames Water but call for regulatory leniency

The lenders in the utility are proposing to invest another £3 billion in new equity and £2 billion of funding, but also write off billions of debt.

Economics

5 d. ago Thames Water bosses were set for £18.5mn before outcry over bonuses

Creditors have proposed injecting £3bn of equity and taking a 20 per cent writedown on loans in latest rescue plan

Economics

9 d. ago The water firms banned from paying bonuses to senior bosses under new laws

Campaign group River Action have called the move a “welcome step” but said that increased salaries should be prevented

Economics

9 d. ago 'Contemptible' Thames Water accused of 'telling lies to the British public' in dividends row

The scathing criticism came as peers discussed a collapsed rescue deal for the debt-laden firm

Politics

9 d. ago 'Contemptible' Thames Water accused in Parliament of 'telling lies to the British public' in dividends row

The scathing criticism came as peers discussed a collapsed rescue deal for the debt-laden firm

Politics

1 week ago Thames Water faces weeks of uncertainty as watchdog reviews £4bn creditor plan

Senior bondholders propose injecting equity to match KKR’s defunct bid but plan needs approval from Ofwat and courts

Economics

1 week ago Northumbrian Water to pay out £15.7m after sewage and water network failings

Bosses at the watchdog Ofwat said the company’s failures led to ‘excessive spills from storm overflows’.

Economics

1 week ago Thames Water creditors warn of "short and closing window" to agree rescue deal

A group of more than 100 creditors holding £13 billion of Thames Water debt said time is running out

Events

1 week ago Thames Water nationalisation ‘not the answer’ says minister after private equity rescue fails

Future of Britain’s biggest water supplier in question as investor pulls out of turnaround plan

Events

1 week ago Voices: If the government wants to save Thames Water, it’s going to need to get its hands dirty

As the very public rescue deal for the ailing company collapses, James Moore warns that the government needs to get its hands dirty to clean up the water industry. This game of pass the buck isn’t doing anyone any favours...

Politics

1 week ago KKR cites political risk in withdrawal from Thames Water rescue deal

US private equity firm’s decision throws future of Britain’s largest water utility into doubt

Events

1 week ago Public ownership ‘not the answer’ says Reed after Thames Water deal collapse

At the despatch box, Conservative shadow environment secretary Victoria Atkins accused ministers of having “talked themselves out of” a rescue plan.

Economics

1 week ago Thames Water rescue takeover collapses after private equity firm KKR drops out

The troubled utility is taking forward talks with ‘certain senior creditors’ on an alternative plan to recapitalise the business.

Events