FTSE 100 Live: Heathrow traffic record; Homebuilders call for help Markets Good morning and welcome back to the City AM liveblog. Yesterday the FTSE 100 retreated on a slew of miserable corporate news. Leading the blue-chip index’s downturn was BP, which announced it would suspend its share buyback programme and increase cost-cutting goals as it looks to reverse its fortunes in the next financial year. The [...]
Severn Trent paid over £2m to fight off bill overcharging lawsuit Business Severn Trent paid out more than £2m in legal fees to defend allegations it had overcharged millions of household consumers by underreporting sewage leaks. Professional costs increased by £2.3m last year, according to the firm’s annual report. These were mainly in relation to a class action claim brought against Severn Trent and a number of [...]
Severn Trent hikes dividend despite balance sheet concerns Business Severn Trent, one of the UK’s biggest water companies, has announced plans to hike its full-year dividend despite coming under fire for allegedly inflating its balance sheet using an accounting trick. The utility was accused by BBC Panorama last month of claiming a £1.68bn investment in its accounts which in reality had no value to [...]
Thames among British water and sewerage firms slapped with new class action January 14, 2025 Water companies, including Thames Water, are set to be hit with a new class action after law firm RPC issued a formal letter notifying of the legal proceedings
Severn Trent hikes dividend as profit nearly triples November 20, 2024 Coventry-headquartered Severn Trent was fined more than £2m for polluting the River Trent near Stoke in February.
Nvidia earnings set to guide US stock market as Trump boost fades November 17, 2024 Nvidia’s earnings will take centre stage for the US stock market this week, while FTSE 100 firms Imperial Brands, Severn Trent and Halma report across the pond. The chipmaking behemoth has seen its share price gain nearly 800 per cent over the last two years as booming demand for AI has driven it to become [...]
Top-rated water firms dumped 1,374 ‘illegal’ spills into UK rivers October 13, 2024 Two of the UK’s largest water firms breached their permits by dumping over a thousand raw sewage spills into rivers, even though they had received the highest possible environmental rating from one of the sector’s regulators, fresh analysis has revealed. Severn Trent and United Utilities oversaw 1,374 raw sewage spills from treatment works across more [...]
Severn Trent given top environmental rating by regulator that just fined it £2m July 23, 2024 The Environment Agency has awarded Severn Trent the highest possible rating for its environmental performance despite having just fined the water company £2m for a sewage discharge that it said could have caused "catastrophic pollution".
Ofwat is now investigating all eleven of England and Wales’ water companies July 16, 2024 Ofwat is opening enforcement cases into four more water companies in a move that means it is now investigating every single water and wastewater company in England and Wales for the mismanagement of their networks and water treatment.
Severn Trent: revenue and profit up at water firm May 22, 2024 Water firm Severn Trent has seen an uptick in turnover, profit before tax and adjusted earnings per share in the year to March, raising its dividend to shareholders despite rising sewage spills.