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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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China’s Economy Expected to Rebound After Stimulus Measures

Key Takeaway: China’s economic indicators are set to show modest growth as government stimulus supports industrial output, retail sales, and housing demand, though the sustainability of recovery remains uncertain.

China’s economy is projected to gain momentum in October, with industrial output and retail sales likely rising due to government stimulus introduced in September. Economists forecast industrial production growth of 5.6% and a 3.8% rise in retail sales, supported by a long October holiday that boosted tourism and spending.

Despite these improvements, the recovery faces challenges. The housing market remains weak, with property investment down by nearly 10% this year, though recent policies helped boost October home sales by 7.1%. Economists caution that turning these early gains into a sustainable rebound will require effective implementation of fiscal, monetary, and housing measures.

October’s Economic Data Highlights:

  • Industrial production: Expected to rise 5.6% year-on-year.
  • Retail sales: Forecast to increase 3.8% from last year, reaching a record 4.5 trillion yuan.
  • Fixed-asset investment: Expected to grow 3.5% for the year’s first 10 months.
  • Property investment: Forecast to decline 9.9%, slightly improved from previous months.
  • Jobless rate: Expected to hold steady at 5.1%.

As global trade tensions rise, including potential tariffs under US President-elect Donald Trump, the outlook for China’s export-driven growth remains uncertain, underscoring the need for continued domestic policy support.

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