Author: SKYNEWS

It is now even harder and more expensive for the UK’s biggest water provider to borrow money as leading credit ratings agency Moody’s has downgraded its debt to “junk” status. Thames Water’s parent company had already defaulted on some loan payments that make up its £16.5bn debt pile. More pressure will be put on its ability to meet debt obligations as a result of the downgrade. The utility is in a perilous financial position, due to run out of money next May as it cannot raise any investment from current shareholders who described the company as “uninvestable”.Money blog: Fans fume…

A weight-loss jab has been approved by the UK’s medicines regulator for use in preventing heart attacks and strokes in overweight or obese adults.Wegovy, which is the brand name for the drug semaglutide, had already got the green light for weight management in those with obesity. The Medicines and Healthcare products Regulatory Agency (MHRA) has now allowed it to be used in helping overweight or obese people cut their risk of heart problems.Wegovy is the first weight-loss medication to be approved in the UK as a preventative method for “established cardiovascular disease”.It can be prescribed to people who have a…

Roberta Taylor, who was known for her roles in EastEnders and The Bill, has died.In a statement, her agent Roxane Vacaa said: “Sadly I can confirm that Roberta died on 6 July. She was 76.”The London-born actress was popular with TV audiences for playing Irene Raymond in EastEnders between 1997 and 2000.Her character was the matriarch of the Hills family and came with a number of compelling storylines.After leaving Albert Square, Taylor returned to TV in 2002 as Inspector Gina Gold in ITV’s The Bill – a role she played for six years. Image: Jeff Stewart, Roberta Taylor, Mark Wingett,…

A specialist engineering and manufacturing group which resembles the prominent acquisition vehicle Melrose Industries is plotting a £50m London flotation.Sky News has learnt that Amcomri is working with bankers at Cavendish on an initial public offering that would take place this year. Details of the listing have yet to be finalised, but one insider said an autumn stock market debut was likely.Money latest: Nestle to bring back classic chocolate bar for one last timeFounded in 2016, Amcomri employs nearly 400 people, having acquired nearly a dozen small and medium-sized industrial businesses since it was set up. Read more from Sky…

Kamala Harris has embraced the social media trend of a “brat summer” in her presidential campaign.A “brat summer” is inspired by pop star Charli XCX’s new album Brat – which was released on 7 June. And the notional Democratic presidential candidate has already flooded her campaign’s social media account with references to it.US election latest: Pollster predicts Harris will get ‘big bounce’It comes after the British singer-songwriter – whose real name is Charlotte Emma Aitchison – endorsed her to be the next Democratic presidential candidate in the early hours of Monday morning, writing in a post on X: “kamala IS…

The chief executive of BAE Systems has told Sky News that, while the programme to build the UK’s planned sixth-generation fighter jet is expensive, it will be vital for the country’s future defence requirements and for creating tens of thousands of skilled jobs.Charles Woodburn was speaking on day one of the Farnborough Air Show amid speculation that the Global Combat Air Programme (GCAP), nicknamed Tempest in the UK, could be at risk in the forthcoming Strategic Defence Review. He said: “GCAP is an incredibly important programme for the UK, in military air capability. There’s in excess of 50,000 jobs, very…

Carpetright’s future is understood to have been secured but the vast majority of its 1,800 staff are set to lose their jobs under a limited rescue deal.It is believed that rival floorings retailer Tapi will confirm it is buying just 54 of 272 stores and two warehouses in a so-called pre-pack administration that allows a buyer to cherry pick assets. The deal would see, however, just 300 staff retained.The brand and Carpetright’s intellectual property rights are also believed to be included in the sale.Money latest: Most parents worried they can’t afford a summer holiday It emerged more than a week…

A financial lifeline will not be thrown to troubled shipbuilder Harland & Wolff (H&W) by the government due to a “very substantial risk that taxpayer money would be lost”, it has been announced.The company, which employs more than 1,500 people across its operations including its main yard in Belfast, had been in talks with the Department for Business and Trade over support including a £200m Export Development Guarantee. In a written statement to MPs on Monday, business secretary Jonathan Reynolds confirmed that the application had been rejected, stating that such funding “would not necessarily secure our objectives.”Money latest:Most parents worried…

BT has been fined £17.5m over network disruption that affected 14,000 emergency calls and led to an “unacceptable risk”.Ofcom, the telecoms regulator, said the penalty was linked to a network fault on Sunday 25 June last year. The disruption lasted for more than 10 hours.It judged that while emergency services found no evidence of serious harm to the members of the public using the 999 emergency and 112 service during the disruption, there were a number of failures in BT’s handling of the situation.Money latest:Most parents worried they can’t afford a summer holiday “We found that BT did not have…

Ryanair has reported weaker profits than expected for its first financial quarter, blaming a need to “stimulate” flight sales amid heightened consumer caution. Europe’s largest carrier by passenger numbers said it had engaged in more discounting than expected in the three months to the end of June, with the average fare 15% down, and it saw no end in sight to the need for markdowns. Profit after tax came in 46% lower at €360m (£303m).Market analysts had expected a figure above €530m.The no-frills carrier reported revenue per passenger was 10% down as a whole, with so-called ancillary revenue – that…