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The Latest Breaking News from Thames Water

Cost of average UK Christmas dinner rises by 6.5%, says Kantar; Ashtead to move listing to US – as it happened

Christmas dinner for four costs £32.57 as price of turkey and vegetables rises; wider grocery inflation climbs to 2.6%

The Guardian - UK

Thames Water will run out of cash by March without £3bn emergency funding

Britain’s biggest water supplier reports 40% increase in pollution incidents, blaming a wet spring and summer

The Guardian - UK

Thames Water reports 40% rise in pollution incidents as debts swell

The company blamed an especially wet spring and summer as it reported 359 pollution incidents during the period.

The Independent UK

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Utilities drag on FTSE 100 after Thames Water receives rescue bid

The FTSE 100 moved 40.77 points lower, or 0.49%, to close at 8,308.61.

Evening Standard

Struggling Thames Water receives £5bn buyout offer from Covalis

Deal would result in France’s Suez Group being brought in to manage restructure of water company

The Guardian - UK

Thames Water receives buyout offer from investment group Covalis Capital

The plans would see French water firm Suez brought in to help run the company while Covalis breaks Thames Water up into smaller chunks.

Evening Standard

Investors up bets on Federal Reserve interest rate cut after US jobs data – as it happened

Live, rolling coverage of business, economics and financial markets as American private sector adds 227,000 jobs in November

The Guardian - UK

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What the papers say – December 6

Here are the top stories to round out the working week.

Evening Standard

Investors line up ahead of Thames Water deadline for £3.3bn equity raise

Castle Water is said to be among those planning to put in potential bids for an equity cash injection into Thames Water.

Evening Standard

Public votes for top 10 best Christmas cracker jokes of 2024

Jokes ranging from political puns to Britpop gags were collated by U&Gold in keeping with tradition of lame one-liners

The Guardian - UK

Water firms push for higher shareholder returns as Ofwat considers bills increase

Companies say higher returns are needed to ensure record infrastructure investment across industry is delivered

The Guardian - UK

Ofwat boss denies failing to regulate water firms despite huge debts

David Black said water companies need to make ‘changes across the board’ but he ‘wouldn’t agree’ that regulators have failed.

Evening Standard

Central London has a new fountain! Burst water main outside Victoria Station causes chaos

Burst water main near Victoria Station forces closure on major central London road during rush hour

Evening Standard

Water companies now have to release live sewage spill data – here’s why more transparency is the key to cleaner rivers

For the first time, anyone in England can now access real-time information of where combined sewer overflows (CSOs) are discharging untreated wastewater into our waterways. This week, all water companies published details of how anyone can access the status of thousands of “event duration monitors”, devices that are placed on…

The Conversation

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The Independent UK

Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses

Thames Water is among nine firms that must ensure owners and shareholders pick up the tab for £6.8 million of executive bonuses.

Evening Standard

Scandal-hit Thames Water blocked from paying 'undeserved' bonuses for top bosses from customers' money

Eight other water firms won’t be using customers’ funds to pay bonuses

Evening Standard

Nine water firms halted from using customer cash to pay for £6.8m of bonuses

Ofwat said its new powers had been applied to bonuses worth £6.8 million, or 73% of the overall total, across the water sector.

The Independent UK

Water firms blocked from using customer cash for ‘undeserved’ £6.8m boss bonuses

Watchdog stops nine from from funding bonuses through customers – but bosses will still get their cash from shareholders

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Evening Standard

Southern Water gets rating downgrade amid ‘challenging funding conditions’

Southern’s latest downgrade by Fitch follows a similar move by ratings agency Moody’s earlier in November.

The Independent UK

Thames Water: Fears of more bill hikes as £38bn bill revealed

A new report has said Thames Water is in worse financial straits than already thought

The Guardian - UK

Thames Water’s IT ‘falling apart’ and is hit by cyber-attacks, sources claim

Exclusive: Company relies on obsolete tech and there are troubling security gaps, Guardian investigation suggests

The Independent UK

What the papers say – November 18

These are the stories making headines to start the week.

The Guardian - UK

Floods, explosions and asbestos: Thames Water faces potential problems on all fronts

Exclusive: Senior managers say they are forced to press ahead with orders for vital items without approval

The Guardian - UK

Thames Water supply ‘on knife-edge’ with £23bn repairs needed

Exclusive: Company has failed to tackle serious safety concerns or upgrade vital IT systems, Guardian investigation reveals

Evening Standard

Housing developments in London flushing raw sewage directly into rivers

Seven housing developments in north and west London are found to be flushing sewage directly into rivers that flow into the Thames

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