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Thames Water’s debt has been downgraded as the struggling utility company seeks to secure £3bn in emergency funding to stave off collapse, after it emerged that the

government has approached potential administrators

.

The rating agency Moody’s downgraded the company’s debt rating, and increased its view of the …

The British engineering company Rolls-Royce has struck its biggest ever deal with the Ministry of Defence with a £9bn contract to make nuclear submarine reactors for the Royal Navy.

The government said the deal, which will create more than 1,000 jobs and safeguard 4,000 other roles, will boost UK national …

Good morning. The debate over Heathrow airport’s expansion has rumbled on for decades, repeatedly derailed by legal challenges, shifts in government policy, and, of course, a global pandemic.

Now, the issue has resurfaced,

propelled by the chancellor

, Rachel Reeves, who has thrown her weight behind the project …

For the past month Japan has been gripped by allegations of sexual misconduct involving one of the country’s best-known stars at a major TV network, in what is becoming a litmus test of the entertainment industry’s response to abuse claims against prominent celebrities.

Masahiro Nakai, a former member of the …

  • Russian crews were responding to an air attack in the Ryazan region south-east of Moscow over Thursday night.

    Social media channels posted videos of what appeared to be very large blazes in the city and said a major oil refinery and a power station had been hit by …

The UK government has reportedly approached multiple restructuring advisers for the role of special administrator for Thames Water if the troubled utility falls into bankruptcy.

Teneo, Interpath and EY are among the companies contacted by the government as it prepares contingency plans should Britain’s largest water company be forced into …

Rachel Reeves will instruct bosses of the national wealth fund (NWF) and the new Office for Investment to work with regional mayors for the first time, as part of a package of initiatives to boost growth across the UK.

.

After a meeting of combined authority mayors and civil servants …

The Barclays chief executive, CS Venkatakrishnan, could see his maximum pay package rise by 45% to more than £14m, as part of a new deal being considered by the bank’s board.

The high street lender is understood to have written to the bank’s largest shareholders regarding potential plans to overhaul …

Roughing up industry regulators, jetting to Davos to court the global elite, and preparing to greenlight airport expansion: after a difficult start to the year, Rachel Reeves is working overtime to regain business confidence.

Financial market turbulence at the start of the year has been followed by a pro-growth charm …

Thousands of people in the UK have been left unable to make or receive phone calls due to outages across the Three network.

Downdetector, a website that tracks outages, showed more than 10,000 reports of issues across the mobile network on Thursday.

Customers using smaller mobile companies Smarty and iD …

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