Here are some of the latest news updates from the UK for Friday, March 7, 2025:
Thames Water Faces Potential Nationalisation Amid Financial Crisis
Thames Water is confronting possible nationalisation due to severe financial difficulties. The company warns it will exhaust funds by March 24 unless a £3 billion loan is approved as part of its restructuring plan. A legal challenge led by MP Charlie Maynard argues that this loan could lead to increased consumer bills. The Court of Appeal is scheduled to hear the challenge next week, and a prolonged legal process might force Thames Water into special administration, effectively placing it under government control.
Schroders CEO Focuses on Wealth Management Expansion
Richard Oldfield, the new CEO of Schroders, is prioritising wealth management in the company's strategy over the next two years. Plans include hiring senior portfolio managers at Cazenove Capital, pursuing strategic mergers and acquisitions, and enhancing technology. Schroders aims for a 5-7% annual net new business growth, though analysts note that gains in the wealth sector may take time to offset challenges in traditional fund businesses.
Royal Engagements: Court Circular for March 6, 2025
The Court Circular for March 6, 2025, details the following royal engagements:
El Príncipe de Gales, Duque de Cornwall: Presided over a meeting of the Prince's Council at Buckingham Palace and visited Mental Health Innovations in London for a merger with The Mix.
The Duke of Edinburgh: Attended a dinner with trustees of the Duke of Edinburgh's International Award Foundation at the Royal Over-Seas League.
The Princess Royal: Participated in the National Equestrian Forum and, as Grand Master of the Royal Victorian Order, attended a service at the Savoy Chapel.
The Duke of Gloucester: As Patron of the Construction Youth Trust, attended a reception at the Pavilion in Holborn.
The Duke of Kent: As Patron of the Polish Hearth Club, attended a literary lunch and lecture by Hugo Vickers.
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