Hints and tips:
...While it says it has £2.4bn of liquidity — enough to run the business for the next 15 months — it needs more than £3bn in equity by 2030 and a steep rise in customer bills to maintain services and deliver...
...The company says it has a conditional agreement from shareholders to invest an extra £750mn in equity by 2025, and says it requires a further £2.5bn by 2030....
...By September, their book value had fallen to €2.8bn, with a liquidation value of just €314mn if the assets had to be sold at short notice. Signa did not respond to a request for comment....
...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...
...On Thursday, the company borrowed £2.85bn to refinance debt raised in its 2021 buyout, in a deal that will reduce its overall debt load by £340mn, prompting Moody’s to upgrade its credit rating and Fitch...
...About £2.7bn was taken out in dividends and £2.2bn in loans during that period, although Macquarie has said it spent £11bn from customer bills on infrastructure....
...The European Securities and Markets Authority did not publicly name Greensill when levying the rare fine last week, but the dates of individual credit ratings and other details referenced in the €2.2mn penalty...
...But far from injecting any new capital in the business — one of the original justifications for privatisation — £2.7bn had been taken out in dividends and £2.2bn in loans, according to research by the Financial...
...The company said it had £2.4bn of cash and access to other overdrafts, enough for it to continue operating until 2025....
...If any non-journalists have thoughts, please send them along: robert.armstrong@ft.com. Does Buffett matter?...
...Opinion: The Fed is utterly frozen between two poles, unable to even gesture in either direction, writes Robert Armstrong in today’s edition of the Unhedged newsletter....
...Read more of Dimon’s comments about “stickier inflation”. 2....
...The latest accounts for Teesworks Ltd, a public-private initiative to redevelop the 2,500 acre former steelworks, show that net profits rose to £54mn in the 12 months to March 2023 after an “exceptional”...
...Robert Smith is an FT capital markets correspondent Follow @FTMag to find out about our latest stories first...
...The approach by Mondi comes as DS Smith continues its search to replace long-standing chief executive Miles Roberts, who in December announced his intention to retire by 2025....
...“H2O fund managers invested €2.3bn in illiquid private debt securities, despite the fact that this type of investment was not only prohibited, but moreover completely at odds with the management strategy...
...Email us your view: robert.armstrong@ft.com and ethan.wu@ft.com....
...Before the crisis, many banks were operating with 2 per cent equity against their assets. It’s gone up to five, sometimes higher. That’s a big change....
...Robert Solow, the US economist who won the 1987 Nobel Prize for economics, has died at the age of 99....
...Launched in the UK in 2010, Metro now has 2.8mn customers and £21.7bn in assets, according to its most recent accounts....
...Register here. 2....
...European Central Bank: Christine Lagarde is performing poorly or very poorly as president of the bank, according to most respondents in a union survey of its staff. 2....
...The “non-showing” spreadsheets recorded debts of about $4.1bn that were not included in NMC’s publicly disclosed debt figure of $2.1bn....
...“Boeing needs to get their act together,” said American Airlines chief executive Robert Isom on a call with analysts....
...Wilding seized the helm of the 120-year old carpet maker to the royal family in a 2012 boardroom battle, spearheaded an acquisition spree of over 20 flooring companies around the world, and drove an over 2,000...
International Edition