Dividend recaps: this is not going to end well
An early proponent of dividend recaps – the financial two-step where equity capital is replaced by debt – was Thames Water.
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An early proponent of dividend recaps – the financial two-step where equity capital is replaced by debt – was Thames Water.
The Marlboro manufacturer’s mistake is characteristic of those running industries thought to be in decline.
The bitter truth is that steelmaking in the UK, barring a few specialist products, has no long-term future.
Chairman, Sir Adrian Montague, insists the company “deserves a fresh start” with a massive infusion of our money. You have to admire his chutzpah.
The weakest link in the Starmer government chain is energy secretary, Ed Miliband.
The new government’s hand is strong enough to resist nationalisation, which would stick over £18bn of debt onto the taxpayer.
Stats on the sales of second-hand electric cars show what happens when legislation pushes supply and demand out of balance.
Ofwat and Labour will be to blame if they let Thames get away with jacking up bills by 59 per cent.
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