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UK 'closely monitoring' Thames Water, ready to act, says minister

REFILE-UPDATE 1-UK 'closely monitoring' Thames Water, ready to act, says minister Adds byline By Muvija M LONDON, Oct 23 (Reuters) - The British government is closely monitoring struggling water supplier Thames Water and is ready to take action if needed, environment minister Steve Reed said on Wednesday , although he ruled out renationalisation of the sector as a whole.
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UK begins sweeping review of scandal-ridden water utility sector

UK begins sweeping review of scandal-ridden water utility sector Largest review of sector for decades Regulator Ofwat could be scrapped - minister Sector struggling to attract investment Companies and regulator wrangle over bills By Muvija M and Paul Sandle LONDON, Oct 23 (Reuters) - Britain on Wednesday launched a major review to tackle the crisis in its water utility sector after years of under-investment and pollution scandals affecting rivers, lakes and seas, which could result in its regula
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UK minister 'closely monitoring' Thames Water, prepared to take action

UK minister 'closely monitoring' Thames Water, prepared to take action LONDON, Oct 23 (Reuters) - The British government is closely monitoring Thames Water, environment minister Steve Reed said on Wednesday, adding that he was prepared to take action if needed, as the country's biggest water company fights for its survival. "We're closely monitoring the situation with Thames ...
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UK begins sweeping review of scandal-ridden water utility sector

UK begins sweeping review of scandal-ridden water utility sector By Muvija M and Paul Sandle LONDON, Oct 22 (Reuters) - Britain will on Wednesday launch an independent commission tackling the crisis in its water utility sector after years of under-investment and pollution scandals affecting rivers, lakes and seas. The commission, to be headed by Jon Cunliffe, former deputy governor of the Bank of England, will aim to strengthen regulation, boost investment and guide reforms to address "inherited
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Ashmore, Biomerieux, Diasorin

EUROPE RESEARCH ROUNDUP-Ashmore, Biomerieux, Diasorin Oct 17 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Ashmore, Biomerieux and Diasorin, on Thursday. HIGHLIGHTS * Ashmore ASHM.L : JP Morgan raises target price to 161p from 155p * Biomerieux BIOX.PA : HSBC raises target price to EUR 126 from EUR 120 * Diasorin DIAS.MI : HSBC cuts to hold from buy * Givaudan SA GIVN.S : Citigroup cuts target price to CHF 4650 from CHF 4750 * Oxf
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UK water utilities gain on RBC's upbeat view ahead of regulator's final determination

BUZZ-UK water utilities gain on RBC's upbeat view ahead of regulator's final determination ** Analysts at RBC Capital Markets expects Britain's water regulator to announce final decision that is positive for the sector's total expenditure, performance benchmarks and returns ** Ofwat will announce final determination for new 5-year regulatory cycle
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UK water firms must cut customer bills by $206 mln for environmental failings

UPDATE 3-UK water firms must cut customer bills by $206 mln for environmental failings Companies unlikely to meet 2020-25 targets Thames Water to lose 57 mln pounds Ofwat CEO blames company culture Adds water industry body in paragraphs 11-12 By Sarah Young LONDON, Oct 8 (Reuters) - Britain's regulator ordered water companies to return a total of 157.6 million pounds ($206 million) to customers after missed environmental targets, the latest penalties slapped on an industry at the centre of a sca
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Ofwat Says Poor Performance Costs Water Sector £157.6 Mln This Year

BRIEF-Ofwat Says Poor Performance Costs Water Sector £157.6 Mln This Year Oct 8 (Reuters) - OFWAT: WATER SERVICES AUTH - WATER COMPANY PERFORMANCE REPORT - £157.6M PENALTY OFWAT: POOR PERFORMANCE COSTS WATER SECTOR £157.6M THIS YEAR OFWAT: CUSTOMERS' BILLS WILL BE REDUCED TO REFLECT THESE PERFORMANCE PENALTIES IN 2025-26 OFWAT: INCREASE IN POLLU
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UK water companies told to repay customers $206m due to environmental failings

CORRECTED-UPDATE 2-UK water companies told to repay customers $206m due to environmental failings Corrects paragraph 8 to show that United Utilities and Severn Trent are not facing penalties Companies unlikely to meet 2020-25 targets Thames Water to lose 57 mln Ofwat CEO blames company culture By Sarah Young LONDON, Oct 8 (Reuters) - Britain's regulator ordered water companies to return a total of 157.6 million pounds ($206 million) to customers after missed environmental targets, the latest pen
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Britain's water regulator says water companies miss targets

Britain's water regulator says water companies miss targets LONDON, Oct 8 (Reuters) - Britain's water regulator said missing targets would cost seventeen water companies 157.6 million pounds ($206 million)this year, the latest blow to an industry which is under pressure to clean up its act over rising sewage pollution. ($1 = 0.7641 pounds) Reportin
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British water companies fight $2 billion lawsuits over sewage pollution

British water companies fight $2 billion lawsuits over sewage pollution By Sam Tobin LONDON, Sept 23 (Reuters) - Six British water companies under-reported sewage discharges and overcharged millions of customers up to 1.5 billion pounds ($2 billion) as a result, lawyers bringing a landmark lawsuit told a London tribunal on Monday. The utilities companies, including Britain's largest water provider Thames Water , are accused of misleading industry regulator Ofwat about the number of pollution inc
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Shoals Technologies signs MoU with Saudi-based power solutions firm; shares down

BUZZ-Shoals Technologies signs MoU with Saudi-based power solutions firm; shares down ** Shares of U.S.-based solar components supplier Shoals Technologies SHLS.O fall 2.81% to $6.06 ** Company signs non-binding MoU with Saudi Arabia-based power solutions firm United Utilities Environmental Services (UUES) to work together for developing localized
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UK's Thames Water says regulator's proposed cuts untenable

UPDATE 2-UK's Thames Water says regulator's proposed cuts untenable Adds Water UK's comment in paragraph 9 and 10, Thames Water's comment in paragraph 11 Aug 28 (Reuters) - Britain's largest water provider Thames Water said on Wednesday that the expenditure cuts proposed by the water regulator were not tenable and would deter investment, as the utility struggles with debt and risks being nationalised.
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UK water investments under threat from regulatory demands, trade body says

UK water investments under threat from regulatory demands, trade body says Aug 28 (Reuters) - British water companies' lobby on Wednesday warned that the industry watchdog's recent proposals to meet environmental targets within the allowed increase in customer bills could deter investments in the sector. The lobby group, Water UK, added that the standards laid out by Ofwat, which regulates water companies in England and Wales, will be impossible to meet with the proposed expenditure cuts.
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United Utilities Submits Response To Draft Determination

BRIEF-United Utilities Submits Response To Draft Determination Aug 28 (Reuters) - United Utilities Group PLC UU.L : RESPONSE TO THE DRAFT DETERMINATION Source text for Eikon: ID:nRSb8891Ba Further company coverage: UU.L
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Top of the Street: Admiral Group, United Utilities, Biomerieux

BUZZ-Top of the Street: Admiral Group, United Utilities, Biomerieux A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Jefferies raises Admiral Group ADML.L to "hold" from "underperform" after the British financial services company exceeded expectations for growth and margin in the first half ** UBS upgrades United Utilities UU.L to "buy" from "neutral" saying the UK water company is trading close to post-2010 multiple lows, while the financial framework th
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Admiral, Capgemini, Zurich Insurance Group

EUROPE RESEARCH ROUNDUP- Admiral, Capgemini, Zurich Insurance Group Aug 22 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Admiral, Capgemini and Zurich Insurance Group, on Thursday. HIGHLIGHTS * Admiral ADML.L : Jefferies raises to hold from underperform * Capgemini CAPP.PA : Jefferies cuts target price to EUR 185 from EUR 195 * Glenveagh Properties Plc GLV.I : Jefferies raises to buy from hold * Orsted ORSTED.CO : Deutsche Bank c
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UK government proposes higher compensation for water company failures

UK government proposes higher compensation for water company failures LONDON, Aug 12 (Reuters) - British water companies that fail their customers will have to hand over higher compensation to affected households and businesses under plans announced by the government on Monday. Under the proposals, compensation would be doubled where water companies failed to meet key standards to which customers were legally entitled, such as failing to provide notice of supply interruptions and missing arrange
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Barclays cuts UK water utilities on negative sector outlook; shares fall

BUZZ-Barclays cuts UK water utilities on negative sector outlook; shares fall ** Shares of UK water companies Pennon PNN.L , United Utilities UU.L and Severn Trent SVT.L all open lower between 4%-5% ** FTSE 100 .FTSE down 2.13% while FTSE midcap .FTMC down 2.57% ** Pennon down 5.2% at 598p, United Utilities down 4.9% at 1,007 and Severn Trent down 4.2% at 2,542p ** Barclays says it is no longer so positive on the sector following Ofwat's Draft Determinations and annual performance reports of the
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Bakkavor, Drax Group, Greggs

EUROPE RESEARCH ROUNDUP- Bakkavor, Drax Group, Greggs Aug 5 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Bakkavor, Drax Group and Greggs on Monday. HIGHLIGHTS * Bakkavor BAKK.L : HSBC raises target price to 170p from 150p * Drax Group Plc DRX.L : HSBC raises target price to 600p from 500p * Greggs GRG.L : HSBC cuts to hold from buy * Pennon Group PNN.L : Barclays cuts to equal-weight from overweight * United Utilities UU.L : Bar
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