Thames Water Racing Against the Clock as Debt Spirals

Thames Water, which supplies 16 million people across London and south England, says it can keep operating until the end of 2026. But its debt jumped sharply to £18.5 billion in a year. The company is haggling with creditors and regulators over a rescue deal. The government rejected a £10 billion private investment proposal, and the incoming PM favours public ownership—a sign that saving Thames Water as a private business may be impossible.