
Barclays Is Selling Thames Water Debt as Rescue Talks Continue
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Barclays Plc is selling £236 million ($320 million) of Thames Water debt as the struggling water operator is locked in talks with creditors over a potential rescue.
The inflation-linked liabilities were offered via an auction where bid were due on Thursday, said people familiar with the matter, who spoke on the condition of anonymity.

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'Extremely rare' King Charles III 50p coin goes on sale for more than £2,000
An eBay listing in County Durham has caught the attention of coin collectors and curious shoppers alike, after an 'extremely rare' 50p coin commemorating King Charles III's ascension to the throne has been put up for sale for more than £2,000. The 2022-minted 50p is 'rare' as it was made in the three months following Elizabeth II's death, which saw the beginning of the reign of Charles III amid a period of national mourning. A listing on eBay has the coin offered at a bidding price of £2,046.68, or a 'buy now' price of £3,066.68. While many of the coins can be found in circulation, uncirculated or error versions often attract premium prices online. The listing can be found on eBay here. Despite that, few coins actually sell for the thousands sometimes advertised. Online platforms like eBay are often flooded with similar listings, some genuine and others speculative. The coin is 'extremely rare'. (Image: eBay) Recommended reading Win a pair of weekend tickets to Touchdown Festival at Darlington Arena Bishop Auckland student who cared for her mum shines in A-level results North Yorkshire student overjoyed at art success after personal tragedies 'It's the equivalent of a digital treasure hunt,' said one Durham-based coin enthusiast. 'But buyers should be wary of hype and focus on condition, rarity, and verified value. Speaking about other valuable 50p coins, a spokesperson from the Royal Mint said: 'Prospective buyers should always research current market trends. Listings at inflated prices don't necessarily reflect real-world sales.' What makes a coin valuable? The 50 pence piece has become the most valued and collected coin in the UK, with many collectable designs appearing on its heptagonal canvas. Its 27.5mm diameter makes it the largest of any British coin, and allows space for decorative pictures. It has often been used to celebrate big events over the past 50 years of British history. Royal Mint top 10 most valuable 50p coins Here is a list of the top 10 most valuable coins, when they were made, and how many were minted: Atlantic Salmon (2023), 200,000 Kew Gardens (2009), 210,000 Olympic Wrestling (2011), 1,129,500 Olympic Football (2011), 1,161,500 Olympic Judo (2011), 1,161,500 Olympic Triathlon (2011), 1,163,500 Peter Rabbit (2018), 1,400,000 Flopsy Bunny (2018), 1,400,000 Olympic Tennis (2011), 1,454,000 Olympic Goalball (2011), 1,615,500
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Liverpool Push Defender for Contract Decision Amid Real Madrid Interest
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2 hours ago
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BrewDog beers axed by almost 2,000 pubs
BrewDog's beers have been axed by almost 2,000 pubs across Britain in a major blow to the embattled brewer. The company's range of draught beers have disappeared entirely from approximately 1,860 pubs in the last two years – cutting its UK distribution by more than a third, according to confidential pub industry data. These figures also show that BrewDog's best-known beer, Punk IPA, has suffered the worst loss after being removed from 1,980 pubs over the same period – a 52.3pc decline in distribution. An industry source said BrewDog was 'losing taps in the [pub and bar trade] like you wouldn't believe' as pubs opt for rival beers such as Camden Town and Beavertown instead. Most of the pubs scrapping BrewDog beers are part of chains and owned by large pub companies, removing a key source of revenue for the brewer at the same time as it struggles to revive its fortunes. The collapse in BrewDog's UK distribution comes following a turbulent period that saw the one-time darling of the craft beer scene post massive losses and face allegations of a 'toxic' workplace culture. Last month, the company was forced to close 10 of its own branded bars across the UK including its flagship site in Aberdeen after deciding they were not 'commercially viable'. It highlights the pressure on James Taylor, BrewDog's chief executive, to reverse the company's declining fortunes. BrewDog has recorded losses of £59m in 2023 and £30.5m in 2022. Mr Taylor admitted in a recent interview with The Telegraph that the company would again be in the red this year. According to the industry insider, the pub retrenchment is likely to make BrewDog ever more reliant on JD Wetherspoon, whose 794 pubs now make up a significant chunk of its remaining distribution, 'If they ever lost the JD Wetherspoon deal, then that's Punk IPA done as a [pub trade] product,' they said. Lauren Caroll, BrewDog's chief operating officer, said: 'Independent brewers across the board have felt the squeeze from the economic pressures hitting the pub trade. With costs rising and consumers watching their spend, pub groups have been narrowing their ranges, and brewery-owned pubs are putting more emphasis on their own brands. 'It's not just us – every independent brewer has been affected. We saw the trend coming, which is why we've shifted focus to high-impact channels like festivals, stadiums, and independent [pubs].' Founded in 2007 by James Watt and Martin Dickie, BrewDog rose to prominence in the 2010s amid a boom in demand for independent beers and hoppy IPAs. Led by Mr Watt as chief executive, the company became known for marketing stunts such as driving a tank through London and brewing what it claimed was the world's strongest beer to be served from a taxidermy squirrel. However, in recent years it has been dogged by controversies including high-profile allegations of a 'culture of fear' that emerged in an open letter from former employees and people working there at the time. Mr Watt was also accused of acting inappropriately with female staff following a BBC investigation, which he stringently denied. He stepped down as chief executive in 2024, handing over control to James Arrow, then its chief operating officer. Mr Arrow left BrewDog after less than a year in post and was replaced by Mr Taylor, a former fashion industry executive, who has overseen a major rebrand of the company's beers and hopes to restore faith in the company. Further criticism has been heaped on the decision to sell a stake to the American private equity firm TSG Consumer Partners in 2017, which minted Mr Watt and Mr Dickie as millionaires. The unorthodox deal forced BrewDog to deliver an 18pc compounding return to TSG, which rapidly increases the interest on TSG's shares on an annual basis This is believed to threaten the shareholdings of thousands of 'Equity Punk' retail investors who plied their savings into the brewer as it grew. Asked about this last month, Mr Taylor said: 'I will try and create shareholder value for everybody and what happens in the future in terms of the value of that? Well, quite frankly, it's an academic conversation for the moment.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data