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
Key Takeaway: President-elect Donald Trump has chosen loyalists with limited qualifications for top positions, signaling a potential shift in US governance and international role under his leadership.
In a surprising move, President-elect Donald Trump has tapped several loyalists with minimal experience for key cabinet roles, creating shockwaves among allies and raising questions about the future direction of US policy.
Among Trump’s choices, Matt Gaetz has been nominated for US attorney general, despite having no Justice Department experience and a past DOJ investigation that cleared him of charges in 2023. His loyalty to Trump appears to be the primary factor in his selection.
Tulsi Gabbard was named as the new director of national intelligence, despite limited intelligence experience. Her public stances, including support for Putin's actions in Ukraine, have raised concerns about her role overseeing 18 spy agencies.
Trump also nominated Pete Hegseth as secretary of defense. Known for his media presence and controversial views on military diversity, Hegseth’s new role places him in charge of the world's largest military force, though critics question his qualifications.
While Senator Marco Rubio was selected as secretary of state, providing some relief with his foreign policy experience, Trump's overall choices highlight a loyalty-driven strategy. Analysts suggest that Trump’s nominees are unlikely to challenge his most controversial orders.
Senate Approval: While Republicans control the Senate, the selection of moderate senators may test their loyalty to Trump, potentially affecting the confirmation process.
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