Reuters UK Business

UK’s Thames Water set for over $13.5 billion rescue deal by Silver Point and Elliott, Bloomberg News reports

6 Jun 2025

(Reuters) -U.S. investment firms Silver Point Capital and Elliott Management are formulating a 10-billion-pound-plus ($13.53 billion) rescue package for Britain’s Thames Water, Bloomberg News reported on Friday, citing people familiar with the matter. The deal will comprise a major debt overhaul, including a multi-billion-pound haircut for senior creditors, in addition to reductions already expected for …

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Shell reports June 4 fire at ethylene cracker plant in Pennsylvania

6 Jun 2025

(Reuters) -Shell PLC on Friday said a fire occurred on June 4 at its ethylene cracker plant in Potter Township, Pennsylvania, and the furnace unit involved remained offline pending an investigation. The fire, which occurred at furnace unit number five in the Shell Pennsylvania Petrochemicals Complex at approximately 2:20 p.m. EDT on Wednesday, was quickly …

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Eni, YPF sign agreement for participation in Argentina LNG project

6 Jun 2025

MILAN (Reuters) -Italian energy group Eni and Argentina’s YPF on Friday signed an agreement on the Argentina LNG (ARGLNG) project during a meeting in Rome between Italian Prime Minister Giorgia Meloni and Argentine President Javier Milei. Eni will act as a strategic partner of YPF on the Argentina LNG project and make use of the …

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Swiss National Bank denies currency manipulation after being put on U.S. watch list

6 Jun 2025

By John Revill ZURICH (Reuters) -The Swiss National Bank said on Friday it would intervene in foreign currency markets where necessary to keep inflation on track after the United States added Switzerland to a list of countries being monitored for unfair currency and trade practices. The SNB denied being a currency manipulator after the publication …

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Spain’s imports of Venezuelan oil dry up ahead of US sanctions deadline

6 Jun 2025

MADRID (Reuters) -Spain didn’t import crude oil from Venezuela in April, ahead of a key sanctions deadline set by U.S. President Donald Trump’s administration. Spain’s largest oil company Repsol is among foreign firms operating in Venezuela whose permits to export oil from the country were revoked by the United States. Repsol was given a May …

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Falling LME copper stocks inflate premium for nearby contracts

6 Jun 2025

LONDON (Reuters) -Concerns about the nearby supply of copper on the London Metal Exchange (LME) due to falling stocks in LME-registered warehouses has created a premium for nearby contracts against those with longer maturities. The discounts for nearby LME copper contracts against longer dated forwards flipped into premiums a month ago as higher COMEX prices …

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Britain urged to lower energy costs ahead of industrial strategy

6 Jun 2025

LONDON (Reuters) -Britain’s first industrial strategy for eight years will be undermined unless the government also announces measures to reduce sky-high energy costs faced by companies, lawmakers and business leaders said on Friday. Ministers have been working on the strategy, which will be presented along with a multi-year spending review due on Wednesday and highlight …

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