Allegra Stratton: Can we Clean up the UK's Great Stink?
There are plenty of good bits — it's positive that Jon Cunliffe's review recommends stricter oversight of water company ownership. The proposed new regulator could get the power to block changes in the running of water companies if they are not seen to be prioritizing the long-term interests of us all.
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Yahoo
11 minutes ago
- Yahoo
Could a smart meter help you save hundreds in water bills?
The Independent Water Commission called for compulsory smart water meters to reduce household consumption. But do they save money? The government has promised a "root and branch reform" of the water industry. It follows the long-awaited publication of an independent review by Sir Jon Cunliffe, which made 88 recommendations to tackle problems in the sector – amid public fury over pollution in rivers, soaring bills and the bonuses of water company bosses. One of those recommendations was for the government to "accelerate efforts to reduce household water consumption by introducing compulsory smart metering". So, what are smart water meters and can they save money? Yahoo News UK explains. What are smart water meters and how do they work? Smart water meters, just like smart gas and electricity meters, are devices that automatically track water usage. As per the Consumer Council for Water (CCW), which represents consumers in England and Wales, the type of meters expected to be rolled out in future are advanced metering infrastructure (AMI) meters. These "send automatic readings directly to the water company throughout the day using a secure connection. With AMI meters, customers can check their water use through an app or online on the water company's website, helping to spot leaks and manage usage better". According to government documents from December last year, 12% of households in England have a smart water meter. How much money could I save? Water bills have been rising. The typical UK bill-payer saw their payments increase by an average of £86 in April, with one company – Southern Water – hiking bills by more than £200. So, how much of a difference could a smart water meter make? The CCW says they "can help people understand and reduce their water use, which could save money". It told Yahoo News UK water meters, whether smart or traditional, tend to result in cheaper bills: "During the winter and early spring, CCW saw a huge surge in people using our water meter calculator to see if they could combat the large April water bill rises by switching to a water meter. Among those that identified they could save by switching, the average saving was around £150 a year. "So, there are significant savings to be made for some households just by having a meter installed, whether it's a smart or traditional meter." It added that an advantage of smart meters is their real-time data showing any unusual spikes in water use, "helping to identify excessive usage or leaks more quickly than a manual reading would, and potentially leading to bigger savings". Do I have to switch to a smart water meter? Not at this stage. Compulsory smart water meters are only a recommendation, with the review simply calling for the government to "accelerate efforts" towards this goal. It stated: "Options within the water sector could involve looking at expanding criteria for compulsory water metering to be beyond 'areas of serious water stress' and the other limited existing circumstances in which compulsory metering can apply currently. Watch: 'Water companies acted against public interest' "In considering options for taking forward reform in this area, the government should consider the experience of rolling out smart meters in other sectors. Within the energy sector, unless there is good reason not to, suppliers must install a smart meter if they are replacing a meter or installing a meter for the first time." However, even smart gas and electricity meters – which have been rolled out across two-thirds of Great Britain – are still not compulsory. Read more What 'once-in-a-generation' water reform report will mean for your bills (Yahoo News UK) Key questions answered on water reforms to protect consumers and environment (PA Media) Water chiefs' pay rises to average of £1.1m despite ban on bonuses and outrage over pollution (The Guardian)
Yahoo
11 minutes ago
- Yahoo
Aurania Provides Update on New Mining Service Fee in Ecuador
Toronto, Ontario--(Newsfile Corp. - July 28, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") provides an update on the Ecuadorian government's recently imposed new Mining Service Fee (Tasa de Fiscalización Minera or TASA) on the resource sector. As previously disclosed in a press release dated June 11, 2025, the resolution put forth by the Ecuadorian Control and Regulation Agency ("ARCOM") in relation to new administrative fees for the mining sector has now taken effect and the Company has received notice of the fee as it applies to its project in Ecuador. The resolution was published in the Official Registry on June 20, 2025, and on June 27, 2025, ARCOM issued a resolution outlining the official regulations detailing the payment collection mechanism for the administrative fee. Under this new regulation, ARCOM has requested that the Company pay US$2,012,618 by July 31, 2025, equivalent to one month of the total annual administrative fee of $24,151,420. These annual fees amount to more than Aurania's current market capitalisation and present an unsustainable cost burden for Aurania and other companies operating within the sector. These new fees are especially burdensome for companies working in early-stage exploration, which is a critical component of the mining pipeline, as standalone exploration-stage companies typically do not generate revenue and therefore rely solely on investment through capital markets to fund their projects. Aurania's Chairman, President & CEO, Dr. Keith Barron commented, "Aurania has a long history of working and investing in Ecuador. I'm a big believer in our project there, and I value the cooperative relationships that we have built to date. However, the new fees are excessive and disproportionate. The Mining Chamber along with other companies working in Ecuador are appalled by the administrative fee. As we continue to work on possible solutions we will always endeavour to be fully transparent with our shareholders and will continue to provide updates on this evolving situation." To our knowledge, four constitutional challenges against the new administrative fees have been presented in Ecuador and are being analyzed by the Court to determine if the claims will be accepted. The decision whether or not to accept the claims may take several months and, if accepted, the constitutional challenges could take several years. In the meantime, if the claims are accepted, ARCOM may or may not be directed to halt the collection of the fees. The Company will wait for these procedures to follow their course, and it will assess its legal rights and options for further courses of action. 2025 Concession Fees In March 2025, the Company filed a request to enter into an agreement for the deferred payment of the annual concession fees with the Ecuadorian tax authority (SRI) which total US$2,441,227 - see press release dated March 31, 2025. As part of this process, the Company will make a first payment of US$488,245 equivalent to 20% of the 2025 concession fees plus accumulated interest by August 8, 2025. The Company expects to continue to negotiate the payment terms for the balance of its 2025 concession fees. A failure to reach an agreement could result in the remaining balance becoming immediately due and payable and a potential forfeiture of the mineral concessions. About Aurania Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador. Information on Aurania and technical reports are available at and as well as on Facebook at X (formerly Twitter) at , and LinkedIn at For further information, please contact: Carolyn MuirVP Corporate Development & Investor RelationsAurania Resources Ltd.(416) Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes Aurania's objectives, goals and future plans in respect of the administration fee imposed by ARCOM and the status and negotiation for the deferred payment of the annual concession fees with the Ecuadorian tax forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: an inability to fund the administrative fees imposed by ARCOM on the mining sector which could render the Company insolvent; an inability to fund or extend the payment of Ecuador mineral concession fees which are due and payable and which could result in the forfeiture of such mineral concessions; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company's public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. To view the source version of this press release, please visit Sign in to access your portfolio
Newsweek
43 minutes ago
- Newsweek
Trump's EU Trade Deal Explained
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. After months of negotiations, and the two sides exchanging threats of further tariffs and potential countermeasures, the European Union and the United States have finalized terms of a deal that offers the bloc a reduced tariff rate in return for billions of dollars' worth of purchases and investments. "I think it's the biggest deal ever made," President Donald Trump said following a meeting with European Commission President Ursula von der Leyen on Sunday afternoon. Why It Matters As well as averting a prolonged standoff and the risk of an all-out trans-Atlantic trade war, the deal substantially reduces the potential barriers that were emerging in the world's largest bilateral trading relationship—valued at just under $1 trillion last year per the U.S. Trade Representative. The announcement, which follows weeks of back-and-forth and periodic reports of stalled negotiations, also marks a major victory for the administration, which has been racing to finalize as many deals as possible ahead of the latest, August 1 deadline. Former Commerce Secretary Wilbur Ross told Newsweek recently that this could have proved one of the hardest deals to finalize, given that 27 members make up the EU, with the resulting difficulty of the bloc forming a unified front on complex issues such as trade. What Are the Terms of the New Deal? After pivotal in-person negotiations between Trump and von der Leyen, the president read out the terms of the new deal at the his luxury golf course in Turnberry, Scotland. He said that the EU has agreed to purchase $750-billion-worth of U.S. energy products, including oil, gas, nuclear fuel and semiconductors. In a press release, von der Leyen said that this will "diversify our sources of supply and contribute to Europe's energy security." In addition, the deal calls for a $600-billion investment in the U.S. by the EU, which comprises purchases of American military equipment. In exchange, the U.S. will lower the import tax on the vast majority of European products to 15 percent, half the rate that was set to go into effect on August 1, and far below the 50-percent rate Trump briefly threatened in May. President Donald Trump, right, shakes hands with European Commission President Ursula von der Leyen as they meet in Turnberry, Scotland, on Sunday, July 27, 2025. President Donald Trump, right, shakes hands with European Commission President Ursula von der Leyen as they meet in Turnberry, Scotland, on Sunday, July 27, 2025. Jacquelyn Martin/AP Photo The outcome is less favorable than the 10-percent rate negotiated by the United Kingdom, but matches that secured by Japan last week. "This rate applies across most sectors, including cars, semiconductors and pharmaceuticals," said von der Leyen. "This 15 percent is a clear ceiling. No stacking. All-inclusive." Trump said that the lower tariff rate will come with the condition of the EU "opening up their countries" to more American exports. The pair have also agreed on "zero-for-zero" tariffs on several goods, including aircraft and component parts, certain chemicals and agricultural products, and critical raw materials. The EU chief said that the bloc will "keep working to add more products to this list." However, Trump said that the 50-percent tariffs on steel and aluminum will remain unchanged. "That's a worldwide thing that stays the way it is," he told reporters. What Were the EU Tariffs Before Trump's Presidency? Given the absence of a free trade agreement between the U.S. and EU, the pair have historically traded using the most-favored nation tariffs under World Trade Organization rules. According to analysis by the economic think tank Bruegel, the average rate of tariffs on European imports was around 1.4 percent prior to Trump taking office, and his succession of tariff announcements threatened to push this average rate up to over 15 percent. However, sector-specific tariffs were higher on a range of agricultural products, as well as certain vehicles. Meanwhile, the EU reported in February that most U.S. exports were duty-free or faced a roughly 1-percent tariff. However, higher charges are also placed on certain products, including a 10-percent tariff on vehicles and apparel taxes of 12 percent, according to CNBC. What People Are Saying European Commission President Ursula von der Leyen, in a statement following the meeting, said: "Today with this deal, we are creating more predictability for our businesses. In these turbulent times, this is necessary for our companies to be able to plan and invest. We are ensuring immediate tariff relief. This will have a clear impact on the bottom lines of our companies. And with this deal, we are securing access to our largest export market. "At the same time, we will give better access for American products in our market. This will benefit European consumers and make our businesses more competitive. This deal provides a framework from which we will further reduce tariffs on more products, address non-tariff barriers, and cooperate on economic security. Because when the EU and U.S. work together as partners, the benefits are tangible on both sides." Chris Beauchamp, chief market analyst at global trading and investing platform IG, told Newsweek: "For the second time in a week, President Trump has been able to proclaim a trade deal with one of the U.S.' key partners. Like the Japan deal, it seems to involve the U.S. slapping on tariffs while the other side pledges to open up its markets. "Tariffs continue to be defanged as an issue, and the announcement of yet another 90-day pause for China merely underlines the view that Washington is now closing down the issue having gained a series of 'wins.' Now we wait to see whether the tariff price increases do start to show up in inflation data." Robert Basedow, professor of international political economy at the London School of Economics, told Newsweek: "I do not expect the deal to put trans-Atlantic differences over trade to rest. We have seen it in the past that Trump reneges on trade deals and seeks to renegotiate them…Hence, I expect the Trump administration to come back with new demands or complaints as opportune to him (typically for domestic policy reasons). "These Trump deals are not classic trade agreements that pass through parliament and are of hard law nature," he added. "They are more akin to political agreements, with often limited technical detail and thus scope for diverging interpretations." What Happens Next? Von der Leyen described the deal as "a framework." She added that there were certain details yet to be ironed out, France 24 reported, and that this would happen "over the next few weeks." The deal remains subject to EU member state approval. The bloc's ambassadors will meet on Monday for a debrief from the European Commission. Basedow told Newsweek that von der Leyen "will get a lot of pushback from member states, businesses, and media over this deal," which will hold "EU-internal political ramifications."
