Thames Water has been granted permission to borrow £3bn in a high-cost loan deal to prevent collapse, approved by the High Court despite appeals from creditors and a Liberal Democrat MP. The company, facing £16bn debt, requires the cash injection to continue operations amidst public outrage over pollution, high bills, and executive pay. The approved restructuring plan provides a loan with a 9.75% interest rate, with the company facing special administration if not approved, while an alternative plan proposed by secondary creditors offers better terms but was not adopted.
Full Article
The gap between Britain’s defence rhetoric and reality
The UK, under Prime Minister Sir Keir Starmer, aims to enhance its military readiness amid rising threats from Russia, but questions remain about the government's ability to deliver on its ambitious defense rhetoric. Recent strategic reviews propose a £15bn investment in nuclear capabilities and a focus on domestic military production, yet the planned increase in force numbers and defense spending may fall short of transformative goals, risking the UK's influence within NATO. Experts warn that...
Read more