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Finance

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Finance

South West Water’s failure to fix leaks ‘putting customer supplies at risk’

With parts of region served by company in severe drought still, regulators give it six weeks to come up with action plan Repeated failures by South West Water to tackle leaks are putting customers at higher risks of losing water supplies as parts of the region remain in severe drought, regulators have said. In a warning to the privatised company that serves 1.8 million people across the south-west of England, the regulators said it had been failing to meet targets to reduce leaks and repair burst pipes for seven years. Continue reading...

The Guardian
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Finance

‘I never understood wind’: midterms spark hope for renewables after Trump’s hostility

Future brightens for US developers in particular after election when voters rejected Trump’s war on clean energy After years as collateral damage in Donald Trump’s war on climate action, the Democrats’ sweeping triumph in the US midterm elections has emerged as a victory for the global renewable energy industry, too. Across the world’s financial centres the market value of renewable energy developers climbed as the election results confirmed the Republicans had lost control of the Senate and House of Representatives. Continue reading...

The Guardian
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Finance

Tech barons cozied up to Trump. What will they do in newly blue America?

Democrats’ success was helped by popular anger over tech, AI and the super rich – life for billionaires could become much more difficult The photo of Silicon Valley centibillionaires at Donald Trump’s inauguration – Musk, Bezos and Zuckerberg, front row and side by side – now looks like a hitlist for a blue Congress hellbent on making life difficult for billionaires. The picture symbolized at the time the bending of the knee by the richest men in the world to its most powerful, a symbiosis of the ultra-rich. Already unfathomably wealthy, Silicon Valley tycoons believed a Maga-sized public shif

The Guardian
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Finance

Poundland’s US owner says retailer remains ‘vulnerable’, after talks with ministers

Gordon Brothers still in ‘active discussions’ with interested parties and seeking to ‘protect as many jobs as possible’ The US owner of Poundland has said the high street chain remains “challenged and vulnerable” after holding talks with ministers amid government criticism of its handling of the retailer. Gordon Brothers said on Thursday morning that it was still in “active discussions” with interested suitors and had been seeking to “protect as many jobs as possible”. Continue reading...

The Guardian
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Finance

Elon Musk’s nearly half a billion dollars in midterms spending was a flop

The tech billionaire set spending record as he poured $446m into campaigns for failed Republican candidates Elon Musk set a record for election spending this year after pouring nearly half a billion dollars into backing Republicans in the US midterm elections. It turned out to be a poor investment. The SpaceX and Tesla CEO contributed at least $446m to Republican-aligned Super Pacs and groups over the course of the elections, specifically targeting several key Senate races in an effort to help the Trump administration retain Republican control of Congress. He outdid his own 2024 spending of ne

The Guardian
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Finance

LIV Golf’s attempted relaunch collapses after new lead investor withdraws, reports say

BC Partners reportedly walks away after player exodus LIV set to appear at bankruptcy hearing on Thursday The rebel LIV Golf tour’s attempt to relaunch itself after filing for bankruptcy has collapsed following the withdrawal of the new lead investor BC Partners, according to reports on Wednesday. The private capital firm made the decision to walk away after struggling to convince several star players to commit fully to the league going forward, the Financial Times and the Athletic reported, citing anonymous sources. Continue reading...

The Guardian
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