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...Andy Mitchell, the chief executive of Tideway, was paid an additional £2.2mn last year on top of his £468,000 base salary last year, taking his total package to more than £2.7mn in the year to March 31 last...
...More than half of Thames Water’s debt is index-linked, according to rating agency S&P, burdening it with higher interest repayments as inflation soared over the past 18 months.The utility may also face large...
...Andrew Mitchell, a former Tory international development secretary, said the move would “undoubtedly cost lives” in some of the world’s poorest countries....
...Although interest rate pressures have reduced slightly in recent months, rating agency S&P has a negative outlook or credit watch on three-quarters of water company ratings....
...In November, credit agency S&P Global revised its outlook on Yorkshire Water’s debt to negative because of “operating and financing cost pressure”. DWS and GIC declined to comment....
...S&P, the rating agency, has negative outlooks for two-thirds of the UK water companies it rates — indicating the possibility of downgrades as the result of weaker financial resilience....
...Gill PlimmerI think it’s hard....
...Frank Gill, sovereign specialist for Europe, Middle East and Africa at S&P Global Ratings, said he expected European countries to step up their issuance of bonds targeted at retail investors....
...Musician Joni Mitchell turns 80 on Tuesday. As someone who felt the loss when she pulled her songs from Spotify, it’s time to enjoy her latest album, reviewed here by the FT’s Ludovic Hunter-Tilney....
...Thames’ debt to regulatory capital value ratio – at 80 per cent — is already the highest in the sector and a concern to regulator Ofwat and S&P, the rating agency....
...Stephen and Gill, thank you for joining me. Gill, first of all, you are acknowledged sewage dump expert....
...Yet the water industry is where its report card has been marked, the FT’s Gill Plimmer and Nic Fildes report in this deep-dive into the company’s history....
...There is now a 90 per cent chance the UK will set a temperature record this week, and a 60 per cent chance of reaching 40C, according to Met Office forecaster Becky Mitchell....
...“Not every [board] member has to be an expert in financial risk, but has to be able to read a spread sheet or a P&L [profit and loss account],” Richdale points out....
...In contrast, the S&P 500’s collective price-earnings multiple of 18 is down a mere quarter....
...The UK benchmark NBP wholesale gas price slumped to €10 per megawatt hour on Friday vs €97 for TTF, according to S&P Global Commodity Insights....
...It isn’t completely gone, but it is reduced, while [Xi] basically wants the financial position of Hong Kong to continue,” said John P Burns, an emeritus professor of politics at the University of Hong Kong...
...Correlation between the S&P 500 and its member stocks has risen sharply this year, according to Bloomberg data....
...Overleveraged pub operators such as Marston’s and Mitchells & Butlers have already warned of the threat of inflation to their finances....
...Frank Gill, Emea sovereign specialist at S&P, said that “fiscal policy has historically been driven by the electoral calendar....
...The tech-heavy Nasdaq Composite was down 1.7 per cent, while the broader S&P 500 shed 0.5 per cent....
...This intensifies strains on their public finances and ratings, which are already impacted negatively by the global pandemic,” said Frank Gill, sovereign specialist for Europe, Middle East and Africa at the...
...In an interview with the Financial Times, Indermit Gill warned that many lower-income countries could go into debt distress....
...I mean, the S&P 500 ended the day two and a quarter per cent higher....
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