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Thames Water says it has £515m cash in the bank as its debts swell to £18.5bnGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.China grew 4.3% in the quarter to 30 June, one of the slowest rates on record, as sluggish domestic demand outweighed a surge in exports.While operationally the business is improving, we are also working with our creditors, regulators and government to complete our recapitalisation.10am BST: Eurozone indu

The UK's largest water company reported a post-tax profit for the 12 months to the end of March, but its net debt also swelled.

Exclusive: Move comes as allies of Andy Burnham work on proposals to take water companies into public controlMinisters are drawing up plans to set legally binding debt targets for England’s water companies as they look for ways to avoid another corporate failure such as Thames Water.Sources say Emma Reynolds, the environment secretary, is working on proposals that would force companies to keep their debt below certain levels for the first time or face legal punishment. Continue reading

Um grupo de investidores que detém a maior parte da dívida sênior da Thames Water segue negociando uma proposta de resgate de £10 bilhões com o regulador Ofwat. A disposição é avançar mesmo se a empresa passar por uma gestão temporária do Estado.