DIRS.INFO The most relevant business & tech news

☆ Kevin Spacey says he never groped victims, UK court hears
▼ + stars: | 2023-07-12 | by ( Michael Holden | ) www.reuters.com time to read: +3 min

The accusers have said the 63-year-old had aggressively groped them or in one case performed oral sex while the complainant was passed out, with the prosecution describing him as a sexual bully. Spacey likewise said he could not remember the second accuser, an aspiring actor, who says he woke in the actor's London apartment to find he was being assaulted. "I'm certain that I did not attempt to perform oral sex on anyone who fell asleep in my apartment," Spacey's statement said, adding he had never performed oral sex on anyone who had not consented. His statement also said the man's lawyers had contacted him seeking a payment of more than 450,000 pounds. Spacey told police he was "baffled and deeply hurt" that the final accuser, a driver who says Spacey groped him about 12 times, had made his claims.

Persons: Kevin Spacey, Spacey, Michael Holden, Angus MacSwan Organizations: British, Southwark Crown, Thomson Locations: London, Southwark, Britain, New York, U.S, Oxford, England

New Delhi CNN —From butter chicken to paneer makhani, Indian cuisine is unthinkable without the ubiquitous tomato. Asha, a homemaker in the capital who asked to be referred to only by her first name, told CNN the increase has hit her seven-member family hard. Some of McDonald’s (MCD) restaurants across the country have temporarily stopped serving tomatoes on their burgers, citing quality issues and shortages of supply. Of the tomatoes that were harvested, over 90% were infected by seed-born viruses, Gadve told CNN, which further exacerbated the supply shortage. Devinder Sharma, an India-based agriculture policy expert, told CNN the current shortage was also caused in part by farmers throwing away their tomatoes because no one was buying them.

Persons: Asha, “, Raghav Chadha, ” Chadha, Jocelyn Boiteau, Boiteau, Sriram Gadve, ”, Gadve, Devinder Sharma, Sharma, ” Gadve Organizations: New, New Delhi CNN, Department of Consumer Affairs, CNN, Connaught, Restaurants, Aam Aadmi Party, Twitter, Tata, Cornell Institute for Agriculture, Nutrition, University of Cambridge, Vegetable Growers Association Locations: New Delhi, India, Asia, heatwaves, India’s

☆ UK economy shows strains and gains, complicating Bank of England's job
▼ + stars: | 2023-07-12 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

But the BoE is also aware that the economic impact of its 18-month campaign of rate hikes has yet to be felt fully. Below is a summary of key measures of the economy that the BoE will be watching before its next announcement on interest rates on Aug. 3. INFLATION THREATBritish consumer price inflation held at 8.7% in annual terms in May, down from a peak of 11.1% last October but the highest among the Group of Seven advanced economies. Reuters GraphicsINSOLVENCIESThere are signs that companies, especially smaller ones, are struggling as borrowing costs rise and the economy barely grows. Reuters GraphicsGraphics by Sumanta Sen, Kripa Jayaram and Vincent Flasseur; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, GfK, Sumanta Sen, Kripa Jayaram, Vincent Flasseur, Paul Simao Organizations: Bank of England's, Reuters Graphics Reuters, Nationwide, Halifax, Reuters, insolvencies, Wales, Reuters Graphics LABOUR, Thomson Locations: BoE's, Britain, England, Germany

☆ Chipotle tests robot that can prepare avocados to make guacamole faster
▼ + stars: | 2023-07-12 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Avocados sliced, cored and peeled by the Autocado robot created by Chipotle and Vebu Labs. The fast-casual chain developed the collaborative robot, or cobot, in partnership with Vebu Labs, a California-based robotics startup. Chipotle Mexican Grill has developed a robot that can cut, core and peel avocados used in its guacamole as the restaurant industry faces a sustained labor shortage. To prepare avocados using the Autocado, Chipotle employees load up the device with a full case of the ripe fruit. Preparing avocados for guacamole routinely ranks as one of employees' least favorite tasks, Garner said.

Persons: Carl's, Chipotle, Curt Garner, Garner, Vebu, It's, We've, we'll Organizations: Vebu Labs, baristas, CNBC, Employees, guacamole, Miso Robotics Locations: Naperville , Illinois, California, Vebu

[1/2] People walk outside the Bank of England in the City of London financial district in London, Britain May 11, 2023. REUTERS/Henry Nicholls//File PhotoLONDON, July 12 (Reuters) - Britain's economy is so far proving resilient to a surge in interest rates over the past year and a half, but it will take time for the full impact to feed through, the Bank of England said on Wednesday. "The UK economy has so far been resilient to interest rate risk, though it will take time for the full impact of higher interest rates to come through," it said. It said British banks were less exposed than households to the adverse effects of higher interest rates, especially compared with financial institutions in other countries, while the corporate sector remained "broadly resilient". "Nevertheless, higher financing costs are likely to put pressure on some smaller or highly leveraged firms," it added.

Persons: Henry Nicholls, BoE, BoE Governor Andrew Bailey, David Milliken, Huw Jones, William Schomberg, Kevin Liffey Organizations: Bank of England, REUTERS, The Bank, Bank, Silicon Valley Bank, Thomson Locations: City, London, Britain, Silicon

Another source inside Barclays' investment bank, talking anonymously because they are not authorised to speak to the media, said lower staff attrition at its technology and back office operations had started to worry cost-conscious managers. The BCG review could lead to layoffs, the source familiar with the review said, although no decisions have been made. Some top Barclays investors, however, told Reuters they would have misgivings about a plan to prioritise investment over capital distributions. But a recent shake-up at its investment bank has raised concern about Barclays' ability to compete amid a worldwide dealmaking slump. They are not valued properly together," said Alan Beaney, chief executive at RC Brown Investment Management, which has held Barclays shares since 2012.

Persons: C.S, shivers, Richard Marwood, Venkat, Edward Bramson, Richard Buxton, Alan Beaney, Elisa Martinuzzi, Mark Potter Organizations: Barclays, Boston Consulting, Reuters, Royal London Asset Management, Lehman Brothers, Jupiter Asset, RC Brown Investment Management, BNP, HSBC, Reuters Graphics Barclays, Jefferies, Thomson Locations: U.S, Africa

[1/4] An exterior view of the proposed site for the new China Embassy, near to Tower Bridge in London, Britain, June 23, 2023. That has led officials in Britain, which is trying to forge deeper economic ties post-Brexit, to fear it could also halt their own plans to rebuild its embassy in Beijing. Chinese officials told Reuters they suspected the British government had plotted to stop the embassy plans and orchestrated the local opposition. British officials, who declined to be identified, said they feared that London's plan to rebuild its embassy in Beijing would be affected. Residents say they are also worried about more local security issues.

Persons: Hannah McKay, Rishi Sunak, David Cameron, Xi Jinping, Michael Gove, Xi, Iain Duncan Smith, Dave Lake, Martin Quin Pollard, Kate Holton, Andrew Heavens Organizations: China Embassy, REUTERS, of, Reuters, British, Royal Mint, Conservative Party, Uyghur, Royal Mint Court Residents Association, Thomson Locations: London, Britain, Beijing London, of London, Beijing, China, Europe, Washington, United States, Hong Kong, Xinjiang, Sunak

Prime Day 2023 ends tonight and we're still working hard to round up all the best deals of day 2. Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. On select sizes and colors, you can get up to 60% off, the lowest Prime Day price to date. Even with a newer C3 model out this year, this remains a better value, especially at this current Prime Day deal price. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day.

Persons: we're, we've, snagging, We're, I've, Sarah Saril, you've, we'd, We've, they're, it's, Amazon’s, eero, You'll, Apple, Bose, AirPods, Price, Price Roku, Dolby, Max, Price Casper, Casper, Coop, it’s, It's, Rich, wicks, Price Bowflex, Garmin Venu, Venu, you’ve, Luna, Riley C.E.O, Sunday Riley, It’s, Murad Retinol, Kit Burt's, Kit, They're, Snuggies, Elaine Benes, Kenneth Cole, Steven Madden, Martens, Ray Bans, Vines, Price Calvin Klein, Calvin Klein racerback, Grey Heather, Now's, JW Pei, Price Honeywell, Price Apple, Price Arlo, we’ve, fryer, Bento, bento, you'll, LaCroix, seltzer, Foodi, Fryer, Pro Air Fryer, Price Dyson, Dyson, Hoover, Decker, Bissell, Price Dell, Price LG, Ed, Swift, Zelda, Price Hori, Con Organizations: Tech, Apple, Amazon, Prime, Black, Alexa, Amazon's, Echo Studio, Music, Price Apple, Price Sony WH, Sony, Samsung, LG, Walmart, Casper, Health, Bands, Price Garmin, Garmin, OSHA, Optimum, Theragun's, Amazon Prime, Sunday, Panasonic, frizz, Amazon Deal, GAP, Adidas, Chelsea, Deal, Navy, Columbia, Honeywell, Energy, Steam, IRIS, GE, Oster Digital, Fryer, Oster, OmieGo, ICE, Pro Air, ICM, Deal LG, Fire, Price LG, PlayStation, Google, Price NVIDIA, HP, Price Samsung, MacBook Air, Asus, Mobile, Lenovo, Intel, AMD, Monitor, Seagate, Dell, Monitor Samsung, ASUS, Gaming, EA Star Wars, Star, Nintendo, Gray, Super Nintendo Entertainment Locations: Siena, Birch, Sol, Colombia, Cha Kyusu, sharpener, Whynter, it's, It's

☆ UK to provide $65 mln support package to Ukraine
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

July 11 (Reuters) - The British government said on Tuesday it will provide a 50 million pounds ($64.7 million) support package for equipment repair and establishment of a military rehabilitation centre in Ukraine. Under the new tranche of support, which will be discussed at this week's NATO summit, Britain and G7 members will provide thousands of additional rounds of Challenger 2 ammunition and more than 70 combat and logistics vehicles. These programmes will be funded through NATO's Comprehensive Assistance Package for Ukraine and supported by rehabilitation specialists from across the Alliance, the British government said in a statement. This joint declaration is expected to be signed by all members of the G7, the statement said. The declaration will set out how allies will support Ukraine over the coming years to end the war.

Persons: Putin, Rishi Sunak, Baranjot Kaur, Leslie Adler, Stephen Coates Organizations: NATO, Challenger, NATO's, Alliance, Thomson Locations: Ukraine, Britain, Europe, Bengaluru

☆ UK government offers concessions over contested immigration plan
▼ + stars: | 2023-07-11 | by ( Andrew Macaskill | ) www.reuters.com time to read: +2 min

LONDON, July 10 (Reuters) - British Prime Minister Rishi Sunak's government offered concessions on Monday to members of parliament's upper house after they inflicted a series of defeats on highly contested legislation to make it easier to send asylum seekers to Rwanda. There has already been a protracted legal fight over the plan, which has been criticised by some opposition politicians as inhumane and cruel. The House of Lords, Britain's unelected upper chamber in parliament, approved 20 amendments last week to water down the government's legislation. One government amendment will limit the detention of unaccompanied children to eight days rather than the previously proposed 28 days. The government is appealing a Court of Appeal ruling last month that the plan was unlawful.

Persons: Rishi Sunak's, Sunak, Andrew MacAskill Organizations: British, European, of Human, Conservative Party, Thomson Locations: Rwanda, Britain, East, France

☆ BBC pauses investigation into sex photo allegations after meeting police
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 11 (Reuters) - The BBC said on Tuesday it had paused its investigation into a presenter accused of paying a young person for explicit images, saying its review was on hold while the police examined the circumstances. The BBC, which dominates Britain's cultural and news landscape, has suspended the presenter and discussed the situation with the police. Several BBC stars have taken to social media to say they were not involved after speculation swirled online. "The BBC has been asked to pause its investigations into the allegations while the police scope future work," it said in a statement on Tuesday. On Monday the BBC reported that it had received a letter from a lawyer acting for the young person in the case, to say the allegations were "rubbish".

Persons: Paul Sandle, Kate Holton, Alexandra Hudson Organizations: BBC, Sun, Alexandra Hudson Our, Thomson

☆ Gotta Save the Castle? Start a Podcast.
▼ + stars: | 2023-07-11 | by ( Elizabeth Paton | More About Elizabeth Paton | ) www.nytimes.com time to read: +1 min

Last month, Emma, Duchess of Rutland sat in her drawing room and weighed the pros and cons of living over the shop. Specifically, Belvoir Castle, a stately and splendid pile perched on a wooded hilltop in the English countryside with more than 356 rooms and soaring neo-Gothic towers and turrets. Downstairs, the castle tearoom hummed with tables of tourists sampling scones with jams from the Belvoir estate. Nearby, a platoon of pickup trucks bounced across a field packing up obstacles from a recent Tough Mudder endurance event. For the duchess, born Emma Watkins, it was a day like any other.

Persons: Emma, Duchess, Rutland, ”, Emma Watkins, Duke of Rutland Locations: Belvoir Castle, Belvoir, England

☆ UK mortgage rates surge to 15-year high after surpassing 'mini-budget' peak
▼ + stars: | 2023-07-11 | by ( Suban Abdulla | ) www.reuters.com time to read: +3 min

The average two-year fixed residential mortgage rate climbed to 6.66%, narrowly exceeding the 6.65% touched on Oct. 20 and the highest since August 2008 when it stood at 6.94%, according to data provider Moneyfacts. Governor Andrew Bailey said last month there were signs of more persistent underlying inflation pressures after the BoE unexpectedly raised its Bank Rate to 5% in an effort to tame the highest inflation rate among the world's big rich economies. Swap rates, a key measure lenders use to determine the cost of mortgage borrowing, have also soared. The surge has prompted major mortgage lenders to repeatedly reprice home loan offerings. British homebuyers typically take out mortgages with an interest rate that is fixed for two or five years, and then remortgage on to a new fixed rate or accept a variable rate.

Persons: Liz Truss, Andrew Bailey, BoE, reprice, Andrew Asaam, Suban Adbulla, Sachin Ravikumar, William Schomberg, Kate Holton, Andy Bruce Organizations: Bank of England, Nationwide, Lloyds Bank, Santander, Tuesday, Treasury, Lloyds Banking Group, Thomson Locations: Britain's, British, Halifax

[1/2] British Chancellor of the Exchequer Jeremy Hunt holds a Ministerial Statement at the House of Commons in London, Britain, June 26, 2023. The government rocked pension savers last September with a fiscal statement that drove government bond yields higher and forced pension schemes to scramble for cash, triggering a parliamentary inquiry into their investments. The government is under pressure to revitalise domestic investor interest in several industries considered key to Britain's growth, including fintech, biotech, life science and clean technology. Encouraging greater investment in growth assets will help younger savers but the reforms offer little hope to those retiring in the near term. Inflation continues to ravage Britain's economy, with rates running higher than in any other major rich country.

Persons: Jeremy Hunt, Jessica Taylor, Handout, Richard Gnodde, Becky O’Connor, Jon Hatchett, Hymans Robertson, Andrew Bailey, Hunt, Anna Anthony, Sinead Cruise, Carolyn Cohn, Nick Macfie Organizations: REUTERS, Aviva, Goldman Sachs, Public Affairs, Bank of England, Financial, Thomson Locations: London, Britain, City, PensionBee, Britain's

☆ UK workers at Royal Mail accept pay deal, ending long dispute
▼ + stars: | 2023-07-11 | by ( Muvija M | ) www.reuters.com time to read: +2 min

[1/2] A Royal Mail sign is pictured on a delivery lorry at the Mount Pleasant mail centre in London, Britain, February 2, 2023. REUTERS/Peter Cziborra/File PhotoLONDON, July 11 (Reuters) - British postal workers have voted overwhelmingly in favour of a three-year pay deal with employer Royal Mail, ending a long dispute that has cost the company hundreds of millions of pounds and prompted the departure of its boss. "This has been the most challenging period in both the history of the union and the company," Communication Workers Union (CWU) General Secretary Dave Ward said in a statement on Tuesday. Simon Thompson, who took over as Royal Mail's CEO in early 2021, drew heavy criticism from the CWU over his handling of the pay dispute. Royal Mail's parent, International Distributions Services Plc (IDS) (IDSI.L), said the agreement provided Royal Mail a platform for the next phase of "stabilising the business whilst continuing to drive efficiencies and change".

Persons: Peter Cziborra, Dave Ward, Simon Thompson, Muvija, William James, Mark Potter Organizations: Mount, REUTERS, Royal Mail, Communication Workers Union, Royal, International, Services, IDS, Thomson Locations: Mount Pleasant, London, Britain

Limited-Time Deal Amazon Music Unlimited (Prime Member Plan) Amazon Music Unlimited lets you stream more than 90 million songs ad-free and millions of podcasts. $16.99 from Amazon Originally $29.99 Save 43%Prime Day deals: AudioDeal icon An icon in the shape of a lightning bolt. Deal Amazon Echo Buds (2023) If you need a new pair of wireless earbuds with decent sound, try the newest Echo Buds. $279.99 from Amazon Originally $499.99 Save 44%Prime Day deals: BeautyDeal icon An icon in the shape of a lightning bolt. $145.00 from Amazon Originally $210.00 Save 31%More Prime Day dealsDeal icon An icon in the shape of a lightning bolt.

Persons: We're, we've, Amazon’s, eero, AirPods, Price, it's, Price Roku, Dolby, you've, Max, Price Casper, Casper, It's, Coop, Rich, wicks, Price Bowflex, Garmin Venu, Venu, you’ve, Riley C.E.O, Sunday Riley, It’s, it’s, Murad Retinol, Kit Burt's, Kit, you'll, LaCroix, seltzer, Foodi, Fryer, fryer, they're, Price Arlo, Dyson, Collar, You'll, Gray Organizations: Amazon, Alexa, Amazon's, Echo Studio, Music, Prime, Price Apple, Samsung, Apple, LG, Amazon Prime, Walmart, Casper, Health, Fitness, Price Garmin, Garmin, Optimum, Theragun's, Sunbeam, Sunday, Panasonic, Amazon Deal, Energy, AA, Black, Steam, Quart, Deal LG, Fire, Price LG, PlayStation, Google, MacBook Air, Asus, Mobile, Lenovo, ASUS, Monitor, Seagate, Deal Samsung Galaxy, Galaxy, Fujifilm, TSA Locations: Siena, Birch, Sol, it's, sharpener

☆ Charlie Watts book collection to be offered for sale at auction
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

[1/2] Members of the Rolling Stones (L-R) Charlie Watts, Ronnie Wood, Mick Jagger and Keith Richards arrive for the "Exhibitionism" opening night gala at the Saatchi Gallery in London, Britain April 4, 2016. REUTERS/Luke MacGregor/File PhotoLONDON, July 10 (Reuters) - Books and jazz memorabilia belonging to late Rolling Stones drummer Charlie Watts will go under the hammer in a two-part sale in September, auction house Christie's said on Monday. "Charlie Watts: Gentleman, Collector, Rolling Stone – Literature and Jazz" will feature more than 500 lots, with price estimates ranging from 800 pounds to 300,000 pounds ($1,023 - $383,730). Also on sale are rare editions of books by George Orwell, James Joyce, Arthur Conan Doyle and Agatha Christie. The flagship auction will take place in London on Sept. 28, while an online sale will run from Sept. 15-29, Christie's said.

Persons: Charlie Watts, Ronnie Wood, Mick Jagger, Keith Richards, Luke MacGregor, Christie's, Scott Fitzgerald, Harold Goldman, George Orwell, James Joyce, Arthur Conan Doyle, Agatha Christie, Watts, Charlie Parker's, Porgy, Bess, George Gershwin, “ Charlie, Marie, Louise Gumuchian, Ed Osmond Organizations: Saatchi, REUTERS, Thomson Locations: London, Britain

☆ Do I Really Need to Pack a Capsule Travel Wardrobe?
▼ + stars: | 2023-07-10 | by ( Vanessa Friedman | More About Vanessa Friedman | ) www.nytimes.com time to read: +2 min

I’m going on a two-week hiking trip in August and am trying to figure out what to pack. We’re limited to about 33 pounds, so I need to pack light. I’d love to put together a wardrobe that’s practical, chic and wearable beyond the trip. The capsule holiday wardrobe is the holy grail of travel: an interchangeable, efficient system of dressing that in an ideal world necessitates no more than a tote and a bag that will fit in an airplane overhead bin. The weight of stuff falls from your shoulders, as does the time spent deciding what to wear.

Persons: Suzanne, Vuitton, Elizabeth Taylor, ogle, it’s, Erik Maza Organizations: tote, Town Locations: Saratoga Springs, N.Y

Thames Water, weighed down by 14 billion pounds of debt and under pressure over its environmental record, had told shareholders it needed 1 billion pounds to help fund its turnaround. British ministers have been monitoring Thames Water amid fears it could need a government rescue if shareholders refused to invest more. "Shareholders have also acknowledged that delivery of the turnaround plan is likely to require the provision of further equity support," Thames Water said. The 750 million pound investment is subject to Thames Water improving the business plan underpinning its turnaround, it said. Core earnings (EBITDA) fell 3% to 1.1 billion on revenue which grew 4% to 2.3 billion pounds.

Persons: Ian Marchant, Sarah Young, Kate Holton Organizations: Water, Thames, China Investment Corp, Thomson Locations: Ontario

☆ Britain to unleash $64 billion in pension funding for tech startups after missing out on Arm IPO
▼ + stars: | 2023-07-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Among the measures introduced by the government was an agreement among the country's largest defined contribution pension providers to allocate 5% of assets in their default funds to unlisted equities by 2030. This could unlock up to £50 billion (roughly $64 billion) of investment in high-growth firms if all other defined contribution pension schemes follow suit, Hunt said. Meanwhile, average earners' pension pots could rise up to 12% to as much as £16,000 with defined contribution pension schemes committing to more effective investments, he added. Hunt also committed to an "intermittent trading venue" that makes it possible for public market investors to trade shares of unlisted firms. This would act as a halfway house for privately-traded firms looking for alternative ways of raising capital to public listings.

Persons: Jeremy Hunt, Hunt Organizations: Britain, Finance, CNBC, Treasury Department Locations: Europe, Silicon

☆ Thames Water secures $962 million from investors but says it will need more
▼ + stars: | 2023-07-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Investors in Thames Water have agreed to put an extra £750 million ($962 million) of equity funding into the troubled utility to hold off a temporary takeover by the government. The utility anticipates that an additional £2.5 billion ($3.2 billion) of equity funding will be needed in the five years to 2030. “The additional investment announced today is the largest equity support package ever seen in the UK water sector and underscores our shareholders’ commitment to delivering Thames’ turnaround,” the company’s chairman, Ian Marchant, said in a statement. Thames Water, which provides water and wastewater services to 15 million people in London and the southeast of England, has been at the center of a wider crisis in the sector. Heavily indebted UK water companies are under growing financial pressure as interest rates soar and they must also invest billions of pounds to upgrade aging infrastructure and tackle sewage spills and leakage.

Persons: Ian Marchant Organizations: London CNN — Locations: Thames, London, England

☆ BBC sex photo claims are 'rubbish', young person's lawyer tells broadcaster
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 10 (Reuters) - Allegations that an unnamed BBC presenter paid a young person to pose for explicit photos are "rubbish", a lawyer acting for the young person has told the broadcaster in a letter. The presenter, who has not been named by the BBC or the Sun newspaper, was suspended on Sunday following the claims. The BBC reported on Monday, however, that a lawyer for the young person had written to the broadcaster stating that the allegation was "rubbish". The lawyer said the young person sent a denial to the Sun newspaper on Friday evening, when it first published the allegation, saying there was "no truth" to it, the BBC said. BBC News said it did not know the identity of the young person and had not spoken directly to them, nor had it seen the Sun's evidence.

Persons: Rupert Murdoch's Sun, It's, Paul Sandle, Kate Holton, Peter Graff, Christina Fincher Organizations: Sun, BBC, Monday, Metropolitan Police, Thomson Locations: England

☆ Thames rescue looks far from watertight
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 10 (Reuters Breakingviews) - Thames Water is stepping back from the brink, a little bit. Shareholders, led by Canada’s Ontario Municipal Employees Retirement System, have now agreed to pony up 750 million pounds. They’ve also acknowledged even more will be allowed over the next regulatory review period between 2025 and 2030. Bonds issued by Thames’ holding company, Kemble, rose as much as 10 percentage points following the news. That depressed price suggests there’s a long way to go before Thames is on dry land.

Persons: They’ve, Bonds, Kemble, Neil Unmack, George Hay, Oliver Taslic Organizations: Reuters, Canada’s, Thames, Twitter, Thomson Locations: Canada’s Ontario, Thames, China

LONDON, July 10 (Reuters) - Thames Water has become the poster child for a British water industry under fire for its poor environmental record and financial mismanagement. After a period as a listed company, Thames Water was acquired by German utility RWE (RWEG.DE) in 2001. Thames Water said on Monday they would provide 750 million pounds, and added it had strong liquidity of 4.4 billion pounds. FINANCESNearly 60% of Thames Water's debt is index-linked, according to ratings agency Standard & Poor's, saddling it with higher repayments as inflation soars. Thames Water was fined 3.3 million pounds last week, while Southern Water was fined 90 million pounds in 2021.

Persons: Margaret Thatcher's, Australia's Macquarie, Abu, Hermes, Ofwat, Sarah Young, Chiara Elisei, Emelia Sithole Organizations: Margaret Thatcher's Conservative, Water, Thames, Ontario, BT, China Investment Corp, Thames Water, Macquarie, Yorkshire Water, Severn Trent, United Utilities, The Times, Environment Agency, Southern Water, Thomson Locations: Britain, Here's, Abu Dhabi, Thames, Southern Water, United, England

☆ They Caught the Fish, but the $3.5 Million Prize Got Away
▼ + stars: | 2023-07-10 | by ( Brandon Sneed | ) www.nytimes.com time to read: +1 min

The first boat to bring in a marlin weighing more than 500 pounds would win the Fabulous Fisherman prize, worth $739,500. The prize for catching the biggest marlin overall was $2,769,400. The potential haul, then, was $3.5 million if you won both prizes. Boats had to radio in to tournament officials when they had a fish on the line. They got it right up to the boat, then the line snapped and the fish was gone.

Persons: McCoy, Scooter Organizations: Fisherman, Morehead City, Atlantic Locations: Morehead

Search resuls for: "Pounds"

25 mentions found