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Financial crisis at UK's biggest water supplier worsens
Financial crisis at UK's biggest water supplier worsens
Economy
by  AFP

Debt-plagued Thames Water revealed Thursday that it failed to raise a major cash injection from shareholders, blaming industry regulations that made its rescue plan "uninvestable". The company added it was in "ongoing" talks with industry regulator Ofwat over a plan that is "affordable for customers, deliverable and financeable for Thames Water, as well as investible for equity investors".

UK greenhouse gas emissions fell 5.4% in 2023: data
UK greenhouse gas emissions fell 5.4% in 2023: data
Economy
by  AFP

UK greenhouse gas emissions fell by 5.4 percent in 2023, largely due to a reduction in the amount of gas used in power stations, according to official data published on Thursday. Gas use for electricity generation fell 21.1 percent in 2023, "primarily due to higher electricity imports from France, as well as UK electricity demand continuing to decline", said the report.

German court rules against Mercedes in emissions case
German court rules against Mercedes in emissions case
Economy
by  AFP

A German court ruled Thursday that auto giant Mercedes-Benz knowingly installed emissions-cheating devices in some diesel vehicles, opening the door for owners to seek compensation. It was not immediately clear how much Mercedes might have to ultimately pay out, or how many vehicle owners may seek to claim compensation.