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Southern Water Downgraded to Junk by Moody’s Amid Water Industry Challenges

Key Takeaway: Moody's downgraded Southern Water to junk status , citing financial and operational underperformance, compounding the broader issues facing the UK water sector. Southern Water Ltd’s credit rating was downgraded to junk by Moody’s , with a warning of potential further cuts due to its weak performance history and financial challenges. This downgrade impacts the company’s ability to raise the £4 billion in new debt and £650 million in equity required for its capital plans. The UK water industry is facing heightened scrutiny due to concerns over chronic leaks, sewage spills, and high-interest rates. Southern Water, which supplies over two million people in England, could face severe penalties from the regulator Ofwat , which may limit funds for essential upgrades. Following the downgrade, Southern Water’s 2026 bonds dropped 2.7 pence to around 85 pence on the pound. Despite the rating cut, Southern Water assured customers that services would continue unaffected, hig
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Biden and Xi to Meet Saturday in Peru Amid Tensions and Trump Transition

Key Takeaway: Biden will discuss critical issues with Xi, focusing on stability amid potential changes in US-China relations under Trump’s upcoming administration.

President Joe Biden and Chinese President Xi Jinping are set to meet on Saturday at the Asia-Pacific Economic Cooperation (APEC) forum in Lima, Peru, for a final discussion before a new administration. The agenda will cover key global tensions, including US-China relations, Taiwan, Russia’s war in Ukraine, and China’s role in counter-narcotics efforts.

US national security adviser Jake Sullivan emphasized that Biden aims to maintain open communication with Xi to manage tensions. Biden is expected to address recent Chinese-linked hacking incidents involving prominent US officials and China’s support for Russia, including the presence of over 10,000 North Korean soldiers in Russia.

This meeting follows a period of US restrictions on investment in AI, quantum computing, and semiconductors in China, a move China opposed. As Trump prepares to take office in January, he has promised 60% tariffs on Chinese imports as part of an “America First” policy. With new hawkish appointees in Trump’s team, Biden will stress the need for stability and clarity in US-China relations through the transition period.

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