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...Two Chinese state-owned banks hold a crucial role in the future of Thames Water, as part of a group of lenders involved in a stand-off over debt at the parent company of Britain’s largest water utility....
...Smith & Nephew had given a “compelling rationale” for paying more to its US-based leaders, Glass Lewis said....
...A group of Thames Water bondholders has demanded an emergency meeting with the troubled utility’s management, seeking clarity on the situation at the UK’s biggest water supplier after its parent company...
...Pay has been a source of antagonism for Smith & Nephew. In October 2019, Namal Nawana quit after 18 months as chief executive because the company would not meet his pay demands....
...start to unravel,” said Ash Smith, of Windrush Against Sewage Pollution campaign....
...He was unveiled last week as the next boss of Envista, a New York-listed dental products manufacturer, with a market capitalisation of $3.4bn — about half of Smiths’ valuation....
...Sequa is a listed oil and gas company in which Tennor has been a major shareholder....
...Thames Water and Kemble did not immediately respond to requests for comment. Additional reporting by Robert Smith...
...seeing the written sentences woven from chosen words, not unlike beads in a necklace?...
...comply with a judgment....
...Ofwat opened an investigation into a £37.5mn dividend paid by Thames Water in October last year, with a ruling expected within weeks....
...The chief executive of P&O Ferries accepted a six-figure bonus in 2023 just over a year after it sacked hundreds of UK-based crew and replaced them with foreign agency workers paid from just £4.87 an hour...
...On Friday, one of the holding companies that owns Thames Water said interest payments that were due this week on a £400mn bond “have not been paid”, and issued a “formal notice of default”....
...Government contingency plans for a potential nationalisation of Thames Water, which has become a focus for public anger over sewage pollution and mistrust of England’s privatised water system, emerged last...
...Thames Water’s WBS debt is a legacy of its 2006 buyout by Macquarie....
...By April 5, Thames Water’s parent group said it had defaulted on payments on a £400mn bond....
...Thames Water, the government and Ofwat are now rushing to find a solution....
...Macquarie, the former owner of Thames Water criticised for loading the utility with debt, is a lender to its stricken parent company....
...Solutions could involve a debt-for-equity swap that would wipe out Thames Water’s current shareholders, a slide into special administration that would see external administrators seek new investors, or a...
...The company could be split into a “London Water” company serving the capital and a “Thames Valley” business serving the rest of its area, according to the plans that were leaked to The Guardian newspaper...
...(It’s particularly interesting in a season where the shirt pockets at Paul Smith, Ferragamo and elsewhere cover most of the front of the garment.)...
...Moira O’Neill is a freelance money and investment writer. X: @MoiraONeill, Instagram @MoiraOnMoney, email: moira.o’neill@ft.com...
...There is the po-faced party member who has taken the surname Smith-Smith; she insists on keeping her maiden name, even though it is the same as her husband’s (she has also worked out which Smith comes first...
...Rescue officials told local media that at least seven people had been pulled into the water, with a fire department spokesperson calling the incident a “mass-casualty event”....
...Consolidated financial statements are supposed to present the finances of a parent and its subsidiaries as a single group....
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