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...Barclay met the new Thames Water management earlier this month and is said by colleagues to want to give them a chance to turn things around....
...US hedge fund Elliott Management has been buying the bonds of troubled British utility company Thames Water, in a bet that markets have grown too pessimistic over the size of losses that investors may have...
...Dieter Helm of Oxford university has long argued it is too large for any one management team and should be broken up. Thames could pursue asset sales now....
...Macquarie, the former owner of Thames Water criticised for loading the utility with debt, is a lender to its stricken parent company....
...British prime ministers such as Boris Johnson and Rishi Sunak have not taken any sustained interest in water management or the utilities, he notes....
...By 2006, when the Australian asset management firm Macquarie bought Thames Water from the Germany utility group RWE, the water company had £3.4bn in debt....
...The Basel-based supervisor particularly pointed to leveraged hedge funds, which have “minimal directly applicable” risk rules, and large commodity traders and utilities, which typically enjoy less restrictive...
...In today’s newsletter: Britain’s biggest water utility circles the drain Elliott’s stuck in an AC Milan fight Byju’s investors try to oust its founder Britain’s biggest water utility circles the drain...
...Higher profits come from efficient management, avoiding fines for pollution, efficient collection of bills and the diligent management of installed capital and effective investment in new assets....
...While Thames Water’s management has long insisted that Kemble’s travails should not have an impact on the regulated utility, the water company’s bonds also traded down....
...After all, these underpin the value of everything from defined benefit pension rights to defined contribution lump sums, life insurance policies, wealth management and many other products....
...Russia, already avoiding sanctions on Rosatom, has American utilities — and the US Congress — over a barrel....
...said the company needed “to sort out their own issues”, adding: “What we’re never going to do for people who invest in the UK is say that the state is going to insure you against bad decisions made by management...
...Hello from London, where I am, as a recent American transplant, still adjusting to English understatement (it turns out “you might send me that draft soon” was not just a suggestion)....
...Although these terms are designed to reassure bondholders, they could straitjacket Thames Water’s management, preventing a turnaround at the creaking utility....
...In 2021, an influential American climate commentator chided his compatriots for being too gloomy about their country’s energy transition....
...Per estimates from the American Water Works Association (AWWA), a non-profit association which represents 80% of US water utilities, 5,000 water systems will need to develop new water sources or install...
...Thames Water’s management has long insisted Kemble’s travails should not have an impact on the regulated utility, which they say has £2.4bn of cash and access to other overdrafts that will allow it to continue...
...(Construction Physics) — Sludge Videos Are Taking Over TikTok—And People’s Mind (Scientific American) — Loss of cooking skills has hurt our ability to adapt to rising food prices, experts say (CBC Radio...
...The richest 400 people in the US also saw their wealth jump significantly higher than inflation in 2023, with the average net worth of the Forbes 400 wealthiest Americans up 13 per cent, to $11.3bn, year...
Sector has suffered from the impact of high inflation over the past two years
...“But it will be seriously hard because we do need to build reactors on time and on budget from American suppliers and suppliers of like-minded nations — and that can be very challenging.”...
...The regulator argues in the emails that SWW showed “a lack of understanding of their own supply system” and points to the utility’s water-resource management plan at the time, which predicted SWW would have...
...Seth Grae, chair of American Nuclear Society’s International Council, said the difficulty of finding alternatives for Russian enriched uranium was in part due to a lack of investors....
...Sector expertise Sectors listed: aerospace & defence; automotive; chemicals & pharmaceuticals; construction & infrastructure; consumer goods & retail; energy, utilities & environment; financial institutions...
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