Thames Water, burdened by nearly £20 billion in debt, is projected to run out of money by October. While creditors propose a rescue package, Environment Secretary Emma Reynolds expresses concerns. Potential Prime Minister Andy Burnham advocates for public ownership, setting the stage for a significant clash with major investors.
Senegalese President Bassirou Diomaye Faye has dismissed Prime Minister Ousmane Sonko and dissolved the government amid rising tensions and economic pressures. The move follows Sonko's public criticism of Faye's handling of the country's debt crisis, which stands at 132% of GDP.
Senegalese President Bassirou Diomaye Faye has dismissed Prime Minister Ousmane Sonko and dissolved the government amid rising tensions and economic pressure. The move follows Sonko's public criticism of Faye and comes as Senegal faces significant public debt.
Russian Foreign Minister Sergey Lavrov stated at a BRICS meeting in New Delhi that the bloc must increase joint efforts to prevent a global debt crisis, citing aggregate global debt at 93% of GDP and projected to exceed 100% by 2029.
Mario Draghi received the 2026 International Charlemagne Prize for his contributions to European unity. During the ceremony, he urged EU leaders to pursue deeper economic integration and significant investment to maintain competitiveness against global powers.
A More in Common focus group with nine Surrey residents reveals deep political cynicism ahead of May 7 local elections, with only half planning to vote. Participants cited loss of hope and distrust of politicians, while the upcoming council reorganization faces potential bankruptcy with combined debts of £4.5 billion. Lib Dems aim to capitalize on Conservative vulnerabilities in what is being read as a bellwether for national mood.
More than 270,000 County Court Judgements were registered in Q1 2025, up 17.5% on last year, as UK energy debt reaches a record £4.5bn. Individuals like Mark Sumner, whose energy bills jumped from £80 to £220 monthly, are facing court action and resorting to food banks and credit cards to survive.
Sri Lanka disclosed that a $625,000 payment to the U.S. Postal Service has been missing for several weeks after U.S. officials reported the payment failed to arrive. Authorities detected the incident after hackers allegedly tried to divert another payment intended for India. This follows a separate probe into the theft of $2.5 million from the country's finance ministry. The incidents are believed to be business email compromise attacks, which the FBI says resulted in billions in losses last year. Australian officials are reportedly aware of irregularities in payments owed to their country, suggesting the thefts could be broader.
