63 h. ago Sewage dumping water companies hit with record 81 criminal investigations

The number of criminal investigations into illegal sewage spills and other breaches of environmental permits has more than doubled since last July.

Events

3 d. ago Thames Water drops bonuses due for bosses after Government criticism

Mr Reed confirmed the proposals had been dropped during an Environment, Food and Rural Affairs (Efra) committee session with MPs on Tuesday.

Politics

3 d. ago Thames Water freezes ‘retention payments’ after government backlash

Crisis talks with regulator and government led to agreement to pause controversial payouts

Politics

3 d. ago Thames Water: big bonuses due from emergency £3bn loan ‘withdrawn’

Environment secretary makes announcement after company’s chair said he ‘may have misspoken’ to MPsLarge bonuses due to be paid to Thames Water executives from an emergency £3bn loan have been “withdrawn”, the environment secretary, Steve Reed, said, after the Guardian revealed the chair of the company wrongly told parliament creditors had “insisted” on the payments.Reed told the environment, food and rural affairs (Efra) committee on Tuesday that the retention payment plan had been withdrawn by Thames Water. He said: “I am very happy indeed that Thames have now dropped those proposals. It was the wrong thing to do. They have now withdrawn their proposal to make those payments.” Continue reading...

Economics

3 d. ago Thames Water chairman rows back on comments over bonuses for bosses

Sir Adrian Montague said he may have ‘misspoken’ during an Environment, Food and Rural Affairs (Efra) committee session with MPs last week.

Politics

3 d. ago Thames Water chair says he ‘may have misspoken’ to MPs over bonuses

Sir Adrian Montague told select committee paying bonuses out of emergency £3bn loan was insisted upon by creditorsBusiness live – latest updatesThe chair of Thames Water has admitted he may have “misspoken” when he told a parliamentary committee that large bonuses to be paid to senior bosses out of an emergency £3bn loan were insisted upon by creditors.Sir Adrian Montague told the environment, food and rural affairs (Efra) select committee last week that the lenders “insisted” that “very substantial” bonuses of up to 50% of salary should be paid to company executives from the controversial loan in order to retain key staff. The proposed bonuses provoked fury as the company has said that its finances are “hair raising” and that it had come “very close to running out of money entirely” last year. Continue reading...

Politics

3 d. ago Thames Water chair could face questions after comments to MPs on bonuses

Exclusive: Sir Adrian Montague told select committee paying bonuses out of emergency £3bn loan was insisted upon by creditorsThe chair of Thames Water could face more questions over his statement to parliament that large bonuses to be paid to senior bosses out of an emergency £3bn loan were “insisted” upon by creditors.Sir Adrian Montague told the environment, food and rural affairs (Efra) select committee last week that the lenders “insisted” that “very substantial” bonuses of up to 50% of salary should be paid to company executives from the controversial loan in order to retail key staff. Continue reading...

Politics

7 d. ago Thames Water on collision course with government over bonuses

Utility claims new legislation to block bonuses will not capture ‘retention payments’

Politics

8 d. ago Thames Water fined over £100,000 for carrying out unsafe works in London borough

Thames Water denied a charge for unsafe works on Marloes Road but was found guilty on May 13 at City of London Magistrates' Court

Economics

9 d. ago Thames Water bosses who preside over record leaks, pollution and rising bills should not get grotesque bonuses. They should be sacked: FEARGAL SHARKEY

We were expecting an act of contrition, but all we got was condescension. 

Economics

9 d. ago Thames Water boss issues water restrictions warning amid drought risk

Thames Water has warned its 16 million customers there is potential for water restrictions if the weather stays dry

Events

1 week ago Thames Water boss issues water restrictions warning amid dry weather

Thames Water has warned its 16 million customers there is potential for water restrictions if the weather stays dry

Events

1 week ago Britain on high drought alert: Restrictions warning issued for 16 million people as UK on track for driest spring on record

Much of the UK has become parched in recent weeks amid sustained warm and dry weather, which meteorologists expect will continue for at least another ten days.

Events

1 week ago Thames Water chairman apologises to customers but defends bonuses for bosses

Sir Adrian Montague revealed to MPs how close the company had come to running out of money in the last year, calling the situation ‘hair-raising’.

Economics

1 week ago Thames Water warns customers of potential restrictions as drought risk looms

Chief executive Chris Weston said the company is doing ‘all we need to’ to prepare for potential water shortages.

Events

1 week ago Thames Water executives to receive bonuses from £3bn emergency loan

Utility’s chair tells MPs that retention payments are needed to prevent rivals ‘picking off’ staff

Economics

1 week ago Boss of stricken Thames Water defends £195,000 bonus and admits mothballed £250m desalination plant should never have been built

Thames Water CEO Chris Weston defended accepting the bumper sum after just three months in the role, telling MPs he had 'stabilised' the company.

Economics

1 week ago Thames Water boss issues stark warning on restrictions after dry spring

Thames Water has upped its drought level plans given the driest spring for decades. Chris Weston - amid defending his £195,000 bonus - has raised the spectre of supply issues

Events

1 week ago Thames Water CEO says crisis ‘decades in the making’; Goldman Sachs cuts US recession odds – business live

Rolling coverage of the latest economic and financial newsUK pub chain Marston’s has swung back to a profit in the first half of its financial year, thanks to a busy Christmas and Mother’s Day, as well as a tighter focus on costs.The pub owner reported a pre-tax profit of £19m in the 26 weeks ended on 29 March, compared with a loss of £0.2m in the comparable period in 2024.Their revised forecast reflects a combination of a lower effective tariff rate and the recent easing of financial conditions.We raise our S&P 500 return and earnings forecasts to incorporate lower tariff rates, better economic growth, and less recession risk than we previously expected. Our new 3- and 12-month returns forecasts are +1% and +11%, indicating levels of 5900 and 6500 (previously 5700 and 6200). Continue reading...

Economics

1 week ago Goldman Sachs cuts US recession odds on tariff optimism; UK wage growth slows as jobs market cools – business live

Rolling coverage of the latest economic and financial newsUK pub chain Marston’s has swung back to a profit in the first half of its financial year, thanks to a busy Christmas and Mother’s Day, as well as a tighter focus on costs.The pub owner reported a pre-tax profit of £19m in the 26 weeks ended on 29 March, compared with a loss of £0.2m in the comparable period in 2024.Their revised forecast reflects a combination of a lower effective tariff rate and the recent easing of financial conditions.We raise our S&P 500 return and earnings forecasts to incorporate lower tariff rates, better economic growth, and less recession risk than we previously expected. Our new 3- and 12-month returns forecasts are +1% and +11%, indicating levels of 5900 and 6500 (previously 5700 and 6200). Continue reading...

Economics