Thames Water profits surge on higher bills; Prada buys Versace for $1.4bn – business live

Tesla's car sales in the UK have experienced a decline in November, as reported by New Automotive data, reflecting ongoing challenges in the automotive market. This downturn is indicative of broader economic pressures affecting consumer sentiment and spending in the region.

Tesla's sales in the UK fell by 19% in November, according to data from New Automotive, indicating a significant decline in demand for the company's electric vehicles in this key market.

GB Energy, the UK's new state-owned energy company, aims to mobilize £15 billion ($20 billion) in private-sector financing to develop 15 gigawatts of clean power and storage assets by 2030. This initiative reflects a significant commitment to renewable energy amidst growing concerns over energy security.

Traeger has announced significant executive changes alongside the closure of its UK office, marking a strategic shift in its operations. This decision reflects ongoing challenges within the market and aims to streamline the company's focus on core areas.

The Drax biomass plant in North Yorkshire has reported that burning wood pellets generated 9% of the UK's electricity in July, marking the highest monthly share recorded to date. This increase highlights the growing reliance on biomass energy in the UK, despite ongoing governmental efforts to limit its use due to environmental concerns.

Thames Water is currently engaged in crisis talks with lenders, which are taking longer than anticipated and may extend into 2026, raising concerns about the company's potential collapse into government control. Despite reporting a profit of £414 million for the six months ending September, the utility company is grappling with significant debt and rising operational costs.

O2, Vodafone, EE, and Three are facing a class action lawsuit in the UK, amounting to £1.1 billion, over allegations that they have overcharged millions of loyal customers. The lawsuit highlights significant concerns regarding pricing practices within the telecommunications industry.

Thames Water has reported a return to profitability, primarily driven by increased water bills, which has provided the company with sufficient cash flow to sustain operations into the first quarter of next year. This financial turnaround comes after a challenging period marked by significant scrutiny and rising debt levels.