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PRESS DIGEST-British Business - Feb 19

ReutersFeb 19, 2025 2:41 AM

- The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

- Southern Water has joined Thames Water in deep financial crisis as it seeks a further 900 million pound ($1.13 billion) in rescue funding through a rights issue from its investors.

- British water regulator Ofwat said on Tuesday six water utilities have appealed its pricing regime, highlighting the tension in a sector that is trying to find the right balance between consumer bills and the environment.

The Guardian

- Britain believes that a European-led security guarantee to Ukraine could be provided with considerably fewer troops than the 100,000-150,000 called for by Ukrainian President Volodymyr Zelenskiy last week in the event of a peace agreement.

- The Mayor of London Sadiq Khan has told EU diplomats that Brexit was a mistake and called on the UK government to be bold as it looks to strengthen ties with the bloc, arguing this would act as a counterweight to the tariffs threatened by U.S. President Donald Trump.

The Telegraph

- U.S. Energy Secretary Chris Wright called a pledge to achieve net zero carbon emissions by 2050 a "sinister goal", and criticised the British government's attempts to hit clean energy targets.

- Britain's push towards net zero will temporarily push energy bills higher, Ed Miliband's officials have admitted in an apparent contradiction of the Energy Secretary's own claims.

Sky News

- Britain's Thames Water secured court approval for a 3 billion-pound ($3.78 billion) debt lifeline on Tuesday, warding off the collapse and state rescue of the country's biggest water supplier.

- Tata Steel's TISC.NS plans for a new electric arc furnace in Port Talbot has been approved by the local planning authority.

($1 = 0.7930 pounds)

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