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...Housebuilder Redrow is facing a messy legal dispute with Thames Water over damage to sewage pipes in the Berkshire town of Maidenhead, which underscores the risk of poorly understood underground infrastructure...
...Thames Water and Southern Water only mapped the pipes as they worked on them, leaving a large proportion of the network unchecked, the two companies revealed in responses to freedom of information requests...
...UK water companies including Thames Water have substantial amounts of such inflation-linked debt....
...“To achieve this water companies have proposed a record £96bn of investment — a near-doubling of current levels.”...
...But Gonzalo Delacámara, director of the Center for Water and Climate Adaptation at IE University, said the robustness of Spain’s water system so far had allowed a certain “cognitive dissonance”....
...The relationship with Anglo American follows a similar topsy-turvy trajectory....
...I once asked a director of one of the main water companies what input they received from the political level....
...Desalination taps an almost infinite resource — some 97 per cent of the world’s water is in seas and oceans. Costs have plummeted....
...Only about 15 per cent of the country’s water resources have been developed. Almost all farmers depend on rain, as they are not able to store rainwater or pump water from rivers....
...While Elliott is known for its hardball tactics with creditors — for instance seizing an Argentine naval vessel during a protracted tussle with the Latin American nation — British water company legislation...
...In a statement of intent, the shareholders have hired restructuring advisers at Alvarez & Marsal to engage with the creditors of Thames Water’s ultimate parent, Kemble Water Holdings....
...This is a big test of UK capitalism. Get Thames Water right and the case for private ownership of utilities will be enhanced....
...Thames Water, the UK’s biggest water company, provides water and sewage services to 16mn people, or around 25 per cent of the population....
...If they withdraw, Thames Water could be forced to enter the government’s special administration regime, a form of temporary renationalisation....
...A period of temporary public stewardship is generally framed as a worst-case scenario in discussions about the future of Britain’s biggest privatised water utility....
...Copper is an effective conductor of electricity. The red metal has charged up the mining sector since BHP’s interest in buying Anglo American became public two weeks ago....
...Yet the challenges confronting the likes of Thames Water and many others among the UK’s 17 suppliers of water and sewerage services do smack unnervingly of the issues that banks faced in the period running...
...engulfing Thames Water, the UK’s biggest water provider....
...Money is more important than water to the daily functioning of financial markets, so the GFC had a sense of urgency lacking in the Thames Water crisis....
...One of the holding companies that owns Thames Water on Friday said interest payments due earlier this week on a £400mn bond “have not been paid” as it issued a “formal notice of default”....
...Anglo American Platinum and Kumba Iron Ore....
...“You can’t get away from the fact that South Africa is a very onerous environment for big mining companies in which to invest, let alone explore new resources,” said Michael Cardo, author of Harry Oppenheimer...
...and mistrust of England’s privatised water system....
...The ongoing saga involving the UK’s largest water company took a new turn yesterday after Thames Water said its shareholders were unwilling to stump up £500mn of fresh equity....
...However, it needs billions of pounds more investment to address sewage discharges, water leakage, and storage to prevent potential water shortages....
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