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☆ Casino extends creditors’ losing streak
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

Casino had previously hinted that it was seeking to restructure the unsecured portion of its debt, worth around 3.6 billion euros, implying that the remaining 4 billion euros of secured debt would remain intact. That implies borrowings of less than 2.7 billion euros, based on analysts’ forecasts compiled by Refinitiv. As a result, between 1 and 1.5 billion euros of the secured debt may also be converted into equity. Casino reckons it needs at least 900 million euros of new money to finance the company’s business plan in the next few years. The winner, who will be the group’s largest shareholder, will then determine whether they can end Casino’s losing streak.

Persons: Daniel Kretinsky, Xavier Niel, Pierre Briancon, crouch, Eli Lilly, Peter Thal Larsen, Streisand Neto Organizations: Reuters, Casino, Refinitiv, Twitter, Thomson Locations: Czech

☆ UK holds crisis talks as top water supplier seeks cash
▼ + stars: | 2023-06-28 | by ( ) www.cnbc.com time to read: +2 min

Engineers from a Thames Water leak hunting team unloads equipment from their van during a night shift in London, UK, on Wednesday, May 2, 2023. The chief executive of Britain's biggest water supplier stepped down with immediate effect on Tuesday. The British government has held emergency talks over the fate of the country's biggest water supplier, Thames Water, and said it is ready for any outcome, including temporary state ownership, as the company buckles under huge debts. "We need to make sure that Thames Water as an entity survives," business and trade minister Kemi Badenoch told Sky News. Ofwat said it had been in ongoing talks with Thames Water about the need for a credible plan to turn the business around.

Persons: Rebecca Pow, Rishi Sunak's, Pow, Kemi Badenoch, Ofwat Organizations: Engineers, Thames, Conservatives, Sky News, Water Locations: London, England, Wales

☆ Thames Water: The company supplying water to millions of Londoners is in deep trouble
▼ + stars: | 2023-06-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Britain’s biggest water supplier said Wednesday it needed to raise more cash from investors, as UK media reported the government was preparing contingency plans to rescue the company. Thames Water provides drinking water and waste water services to 15 million customers in London and the southeast of England. Thames Water received £500 million ($635 million) from shareholders in March, but said Wednesday it would need more. Ofwat said it was in “ongoing discussions” with Thames Water “on the need for a robust and credible plan to turn the business around.”“We will continue to focus on protecting customers’ interests,” it added. We prepare for a range of scenarios across our regulated industries — including water — as any responsible government would.”The spokesperson added that the UK water sector “as a whole is financially resilient.”Thames Water says about 24% of the water it supplies to customers is lost through leakage.

Persons: London CNN —, Sarah Bentley, “, Ofwat, ” Organizations: London CNN, Thames Water, Thames, Ofwat, UK Treasury, Sky News, CNN, Ontario, Columbia Investment Management Corporation Locations: London, England, Abu Dhabi

☆ Thames Water woes could have bigger ripples
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 28 (Reuters Breakingviews) - The UK government is working on plans to nationalise Thames Water, Sky News reports. The indebted utility, which lost its chief executive on Tuesday, may be placed into a special administration regime, with ministers worrying about the company's ability to shoulder 14 billion pounds of debt. UK water companies, privatised by Margaret Thatcher in the 1980s, were supposed to be sleepy investments churning out inflation-proof dividends. Thames, owned by Macquarie (MQG.AX) until 2017, had debt equivalent to 80% of its 17.9 billion pounds regulator-defined asset value last September. Its current shareholders, which include Ontario Municipal Employees Retirement System and China Investment Corporation, last year pledged to invest 1.5 billion pounds to prop it up.

Persons: Margaret Thatcher, Neil Unmack, Eli Lilly, Aston Martin, George Hay, Streisand Neto Organizations: Reuters, Sky News, Macquarie, System, China Investment Corporation, Twitter, Thomson Locations: Thames, Yorkshire, Ontario, Canada

☆ EU’s digital euro plan reflects defensive crouch
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

A digital euro, he argues, is essential so that the EU does not fall “behind the curve” in global payments, private-label digital currencies and electronic versions of central bank money. Under the proposal, the European Central Bank would have control over who can use the digital euro, how it will be used internationally, and how much people can hold at one time. At the same time, the plan calls for a digital European currency to have an international role, part of efforts to shore up the euro as a global reserve currency. The EU plan calls for the digital euro to be accepted as legal tender almost everywhere, at no cost to ordinary consumers. If there is going to be a digital euro, Europe’s governments and institutions are clear that they, not the private sector, will be in charge.

Persons: Valdis Dombrovskis, Rebecca Christie, Eli Lilly, Aston Martin, George Hay, Oliver Taslic Organizations: Reuters, European Central Bank, U.S . Federal Reserve, Bank of England, EU, ECB, Twitter, Thomson Locations: BRUSSELS

DIRTY BEACHESClean water campaign groups accuse the water companies of failing to invest in infrastructure. She was replaced by two co-chief executives, Chief Finance Officer Alastair Cochran and former Ofwat boss Cathryn Ross, who has been at Thames Water since 2021. Jefferies analysts said Britain's listed water operators Severn Trent (SVT.L), Pennon Group (PNN.L) and United Utilities (UU.L) were better capitalised than Thames Water, but the issues with the largest company meant a "heightened regulatory environment". Daily headlines about rivers and beaches polluted by sewage released by water companies look set to turn water into a major issue at the next general election, expected next year. Thames Water said in its annual report in October that it had not paid a dividend to its shareholders for the last five years.

Persons: Rishi Sunak's, Jeremy Hunt, Sarah Bentley, Alastair Cochran, Cathryn Ross, Alix, Ofwat, Australia's Macquarie, Sarah Young, Paul Sandle, Radhika Anilkumar, David Evans, Mark Potter Organizations: Company, British, Sky News, Conservatives, Thames, Times, Ontario, China Investment Corp, Water, Alix Partners, Daily Telegraph, Jefferies, Trent, Pennon, United Utilities, Environment Agency, Financial Times, Thomson Locations: England, Wales, Britain, Thames

☆ Royal Ascot 2023: King Charles III to feature in first racing festival since Queen Elizabeth II’s death
▼ + stars: | 2023-06-20 | by ( Ben Church | ) edition.cnn.com time to read: +6 min

CNN —Britain’s King Charles III is set to feature prominently at this year’s Royal Ascot, as the race week bids to forge a new identity since the death of Queen Elizabeth II. Organizers are also determined to pay tribute to Queen Elizabeth II and have permanently renamed one of the races in her honor. “His Majesty The King has approved the renaming of the Platinum Jubilee Stakes to The Queen Elizabeth II Jubilee Stakes.”Queen Elizabeth II loved horse racing and attending Royal Ascot. Royal Ascot organizers are prepared for protesters bidding to disrupt the schedule this week. Frankie Dettori said he expects to cry during the last Royal Ascot of his career.

Persons: CNN — Britain’s King Charles III, Queen Elizabeth II, King Charles III, Queen Camilla, ” Francis Brooke, Max Mumby, King Charles, Queen Camilla –, –, “, ”, Frankie Dettori, John Sibley, I’m, ” Dettori, “ I’ve Organizations: CNN, Ascot, Ascot Racecourse, Royal, Stakes, Royal Ascot, Epsom Derby, Thames Valley Police, greyhounds, Ascot Royal, CNN’s Royal Locations: British, Thames, Italian

☆ Ornate Roman mausoleum found beneath London construction site
▼ + stars: | 2023-06-14 | by ( Caolán Magee | ) edition.cnn.com time to read: +2 min

London CNN —An “incredibly rare” Roman mausoleum has been discovered beneath a south London construction site, archaeologists have said. A team from Museum of London Archaeology (MOLA) made the find in Southwark, close to the Thames River’s south bank. MOLAIn 2017, an excavation just a stone’s throw from the site uncovered a Roman sarcophagus. And in February last year, Roman mosaics approximately 1,800 years old were discovered at the site. The mausoleum will be restored and put on public display, Landsec Developers, which co-owns the site, told CNN.

Persons: MOLA, MOLA MOLA, Antonietta, Catherine Rose Organizations: London CNN, Museum of London, Borough Market, CNN Locations: London, Southwark, Britain, Borough, MOLA, London Borough

☆ Florentijn Hofman’s ‘Rubber Duck’ returns to Hong Kong — and now there are two
▼ + stars: | 2023-06-06 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

CNN —A decade since it famously appeared in Victoria Harbour, Dutch artist Florentijn Hofman’s “Rubber Duck” sculpture has returned to Hong Kong. “Double duck is double luck,” Hofman said in a statement. One of artist Florentijn Hofman's "Rubber Duck" sculptures famously appeared in Hong Kong's Victoria Harbour in 2013. In the years since first arriving in Hong Kong, “Rubber Duck” has appeared in the waters of cities such as Seoul and Los Angeles. Ahead of the installation, images of the pair have been pasted on the side of the city’s trams and at subway stations around Hong Kong.

Persons: Florentijn, peng ”, ” Hofman, . Cheng, Jiang Zemin Organizations: CNN, Ducks, Victoria Harbour, South China Morning, Social Locations: Victoria Harbour, Hong Kong, Tsing, France, Osaka, Sydney, Sao Paolo, Hong, Victoria, South, Weibo, Seoul, Los Angeles, Keelung, Santiago , Chile

LONDON, May 17 (Reuters) - Britain is accelerating plans to protect London from flooding caused by a warming climate and rising sea levels, bringing forward its scheme of work to protect the city centre by 15 years. The government statement said the change was based on improved climate change models which showed the "heightened risk of flooding from a warming climate and rising sea levels." Rising sea levels, in part caused by melting glaciers and record ocean temperatures, are a global threat posing existential risk to some low-lying island states and coastal cities. In April, the World Meteorological Organization said global sea levels were rising at more than double the pace they did in the first decade of measurements in 1993-2002 and touched a new record high last year. ($1 = 0.7923 pounds)Reporting by William James, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Size of Jurassic sea giant found, study says
▼ + stars: | 2023-05-16 | by ( Kristen Rogers | ) edition.cnn.com time to read: +6 min

The findings from the Late Jurassic period, though fragmentary, suggest the pliosaur was about twice the size of a killer whale — and move lead study author David Martill closer to redemption. However, he cautioned that an increase in length corresponds with an “exponential increase in volume … placing a biological limit on the upper size pliosaurs could reach.” Smith wasn’t involved in the study. Pliosaurs were “a group of large carnivorous marine reptiles characterized by massive heads, short necks and streamlined tear-shaped bodies,” according to Britannica. Benton wasn’t involved in the study. “Here is a marine reptile as large as a sperm whale, and there’s nothing like it around today.”

☆ Uber customers in the UK will be able to book flights on its app by the summer
▼ + stars: | 2023-05-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

On Wednesday, Uber rolled out the ability to book flights to select customers in the UK. Uber is adding a new addition to its app that lets customers book plane tickets, the Financial Times first reported. It will be rolled out to all UK users this summer as part of its ambitions to create a "super app" for public transport. "Over the last 12 months with the addition of rail, coach, and now flight bookings, Uber is truly a one-stop travel solution." Brem told the newspaper that the launch of commercial flight bookings was "the latest and most ambitious step" in its goal to expand Uber into a larger travel app.

Lenders wasted little time in charging more for loans when interest rates rapidly rose from an almost 15-year slumber around zero last year, but most have dragged their feet on boosting deposit rates paid to millions of their customers. Money market funds are proving popular among savers seeking bigger returns on their cash as high levels of inflation persist. Data from Refinitiv Lipper showed more than 34 billion euros ($37.6 billion) of net flows into European money market funds in March, the best-selling asset type that month. Fidelity International also reported an 8% year-on-year uplift in flows into money market funds on its investment platform between Jan. 1 and April 26. Some lawmakers have criticised banks for the mismatch between what they charge borrowers and the interest rates offered to savers.

Jeremy Selwyn/WPA Pool/Getty Images Camilla stands next to Queen Elizabeth II during a Diamond Jubilee pageant on the River Thames in June 2012. Chris Jackson/Getty Images From left, Camilla, Charles, Queen Elizabeth II and Prince Philip attend the state opening of Parliament in May 2013. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William. Frank Augstein/WPA Pool/Getty Images In pictures: Britain's Queen Camilla Prev NextShe reportedly met Prince Charles at a polo match in Windsor in 1970 and they became friends. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William.

☆ Bulgarian extreme athlete shuts himself in glass box to help young addicts
▼ + stars: | 2023-04-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stoyan NenovSOPHIA, April 30 (Reuters) - Bulgarian ultra-marathon runner, Krasse Gueorguiev, will live in a glass box for 15 days in a park in Sofia, to raise money to help young people fight addictions. "I want to show when you put someone in the box how psychologically they change." A box with three glass walls has been put on a pedestal in front of the National Palace of Culture in Sofia. "This is not a physical experiment it is psychological experiment," he said. Reporting by Stoyan Nenov; Writing by Ivana Sekularac;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

☆ Coronation travel guide: Transport advice, London hotels and where to watch
▼ + stars: | 2023-04-28 | by ( Julia Buckley | ) edition.cnn.com time to read: +16 min

Take the Conrad London St. James, for example, which sits between the Mall and Westminster Abbey. Most of the roads around Westminster Abbey and St. James’s Park Underground station will be blocked off. How to see the coronationCharles and Camilla will ride in the Diamond Jubilee State Coach to Westminster Abbey for the ceremony. Niklas Halle'n/AFP/Getty ImagesThe coronation itself will take place on the morning of Saturday May 6 at Westminster Abbey. Royal Windsor Racecourse, near Windsor Castle, and on the bank of the River Thames, is having a race night to celebrate the day’s public holiday.

☆ Tate Modern Finds Its New Director in Norway
▼ + stars: | 2023-04-28 | by ( Alex Marshall | ) www.nytimes.com time to read: +1 min

Karin Hindsbo, the director of Norway’s recently opened National Museum, was on Friday named the new director of Tate Modern in London, one of the world’s most popular museums. Hindsbo, a Danish-born art historian, will take on the role in September, replacing Frances Morris, who has led Tate Modern since 2016. Last October, Morris announced she was leaving to focus on curatorial projects, and to work on addressing the art world’s climate impacts. The directorship of Tate Modern is one of the European art world’s highest-profile roles, with the museum expected to regularly stage blockbuster exhibitions of contemporary and modern art. Under Morris’s leadership, it’s hosted acclaimed shows including a sold-out Cézanne retrospective, a career-spanning exhibition of the British artist Steve McQueen’s video pieces and an exploration of work by African American artists during the civil rights era.

☆ A weird, purple flying QR code made of drones appeared in the sky over London for no obvious reason
▼ + stars: | 2023-04-27 | by ( Kieran Corcoran | ) www.businessinsider.com time to read: +2 min

Drones traced weird patterns in the London sky on Wednesday for no clear reason. At one point they formed into a QR code linking to the site of an insurance company. Such QR codes are not a regular sight, but have been deployed before in China. An unusual sight appeared over London's river Thames on Wednesday night — a flying purple QR code without obvious explanation. Flying QR codes are not a frequent sight in the UK, but have been deployed elsewhere in the world, including in Shanghai, China, in 2021.

☆ Fuel Tanker Explosion on Connecticut Bridge Kills at Least One Person
▼ + stars: | 2023-04-21 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

Buildings below the Golden Star Memorial Bridge, a pair of steel truss bridges on the Thames River, were also on fire, the Connecticut State Police said on Twitter. “Injuries reported but extent is unknown at this time,” the police wrote, warning people to avoid the area. Officials closed the highway between exits 86 and 88, Trooper Muniz said, and the bridge was closed in both directions for part of the day. Amtrak reported some delays along the Northeast corridor, which has tracks near the accident. Several agencies, including the Coast Guard, are responding.

☆ 5 marketing experts on how to pull off a heritage-month campaign that's authentic and builds trust with the community
▼ + stars: | 2023-04-18 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +7 min

"I want all businesses to make people of all stripes feel warm and welcome," he told Insider. "There are times when something can be well-intentioned but could be wildly off," he told Insider. Michelle Thames, founder of Thames Media Solutions. Courtesy of Michelle ThamesAuthentic marketing resonates with people and is more likely to boost brand awareness, said Michelle Thames, founder of Thames Media Solutions in Chicago. "It's definitely important to have a connection instead of just posting a meme and slapping up a picture, which doesn't really resonate," she told Insider.

☆ I'm a 21-year-old helicopter pilot. Nothing makes me happier than flying — and yes, I can land in your backyard.
▼ + stars: | 2023-04-15 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Amelia Joanna Brunt is a 21-year-old student in London who's qualified as a helicopter pilot. She grew up flying with her dad, who inspired her to get her private pilot's license. I officially got my helicopter license this January at 21. After a minimum of 45 hours of flight training, including at least 10 hours of solo flying, you take a license skills test with an examiner. At ICE Helicopters, there is a group of six women who are certified, from private license holders to flight instructors.

☆ London's priciest townhouse just listed for $74 million. Here's what's hidden beneath it
▼ + stars: | 2023-04-03 | by ( Ray Parisi | ) www.cnbc.com time to read: +9 min

Will PryceOne of the most expensive townhouses in London listed Monday for 60 million pounds (about $74 million). The home's subterranean level includes a swimming pool that spans 39 feet and a pool deck furnished with daybeds. Below the townhouse residences are subterranean parking spots that eliminate the need for on-street parking. Here's a closer look around — and under — London's newest $74 million listing, which is being sold fully furnished. This can be achieved on a subterranean level because the rear garden is one level below street grade.

☆ Cambridge do double on Oxford in boat race
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +1 min

[1/5] Rowing - University Boat Race - Oxford v Cambridge - River Thames, London, Britain - March 26, 2023 Cambridge in action ahead of Oxford on their way to winning the men's race Action Images via Reuters/Peter CziborraLONDON, March 26 (Reuters) - Cambridge's male and female rowers claimed a double over Oxford in the university boat race on the River Thames on Sunday. Earlier the women's crew were dominant as they beat Oxford for a sixth successive time. "The rush of emotions when we crossed the line, there's nothing like it," Cambridge men's cox Jasper Parish, whose brother Ollie was also part of the team, said. Cambridge's women's crew won by four and a half lengths although Oxford complained of encroachment. Cambridge lead the rivalry 47-30 in the women's event, while Cambridge men have won 86 times to Oxford's 81.

☆ Ask these 4 questions to help avoid surprise medical bills, according to a doctor
▼ + stars: | 2023-03-21 | by ( Mike Winters | ) www.cnbc.com time to read: +5 min

Here are four questions to start with, from Todd Thames, a physician and VP of clinical affairs at Included Health, a virtual primary care provider that helps customers navigate medical bills. by your health insurance, ask both your health-care provider and insurer what your total out-of-pocket costs should be, before you get treatment. That's because a medical provider might not be familiar with the dozens of health insurance policies their patients have, including yours, says Thames. However, diagnostic care is much more likely to incur out-of-pocket medical costs, says Thames. If you express cost concerns, the doctor might recommend a more targeted lab test that can reduce how much you owe in medical bills.

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