(Bloomberg) -- Severn Trent Plc plans to invest £12.9 billion in the five years to 2030, which will require an equity raise of £1 billion. Part of the investment will be used to ensure a 16% decline in leakage and a 30% reduction in spills from storm overflow. Severn Trent, along with other water firms, will submit its investment plan to regulator Ofwat on Monday.
Key Business News
Aston Martin Lagonda Global Holdings Plc: Executive Chairman Lawrence Stroll’s Yew Tree Consortium agreed to boost its stake in the carmaker to 26.2%.
- Aston Martin has been working to return to profit in a turnaround effort that’s resulted in multiple capital raises
Deloitte LLP: Partners at the consulting firm’s UK arm will earn more than £1 million again this year despite a recent slowdown in demand.
HSBC Holdings Plc: The bank’s head of public affairs is set to step down shortly after making controversial comments about the British government’s handling of its relationship with China.
UK GDP: The UK economy is larger than previously thought, new figures show, in a boost for Rishi Sunak days before his Conservative Party begins its annual conference.
September house price data from Nationwide out on Monday will likely show a further drop, with Bloomberg economists expecting an ultimate fall of 10% from last year’s peak.
Later in the week, we’ll get updates from FTSE 100 bellwethers including Tesco Plc, Shell Plc, and Kool cigarettes-maker Imperial Brands Plc.
Barclays Plc hired Panos Babalis from Deutsche Bank AG to focus on UK-based family offices. 65 Equity Partners, an asset manager backed by Temasek Holdings Pte, named former BC Partners executive Pascal Heberling as co-head of Europe. Charles Cooper joined RBC Capital Markets from Credit Suisse as director for pan-euro cash equities sales. Meanwhile, GSK Plc named ex-McKinsey manager Wendy Becker to its board, where she’ll succeed longtime Credit Suisse chair Urs Rohner as head of the pharma giant’s remuneration committee.
- UK Homes in Debt on Energy Bills Surges 36% This Year, EDF Says
- How London Lost Its Place at the Heart of Black Britain
- Banks Wary of London Housing Projects Amid $1 Billion Value Drop
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