Latest news with #CabinetOffice
Rhyl Journal
7 hours ago
- Business
- Rhyl Journal
Water industry may be added to list of sensitive business sectors, says minister
It comes amid an overhaul of regulation for the troubled sector and as firms including Thames Water and Southern Water face financial woes. Communications, energy and data infrastructure are among the 17 sectors that must notify the investment security unit of certain business deals since the list was created in 2021. Chancellor of the Duchy of Lancaster Pat McFadden has asked for businesses' views on extending this requirement to the water sector. It is not expected to affect large numbers of deals but reflects 'increasing risks to the sector's resilience in a growing threat landscape', the Cabinet Office said. 'Data shows our investment security powers are working well, but there's more we can do to ensure our tool kit keeps pace with the modern economy,' Mr McFadden said. 'We're taking action to hone the type of transactions facing the greatest scrutiny, as well as consulting on updates to the sectors of the economy specified in the legislation.' Thames Water is battling to secure funding to shore up its creaking finances and stave off temporary nationalisation by the Government. Southern Water asked its owner, Australian investment firm Macquarie, for an extra £2.1 billion earlier this month to help boost its struggling finances. Making semiconductors and critical minerals into their own standalone categories and moving computing hardware to fall under semiconductors is also being proposed. Mr McFadden also said he planned to remove some requirements that are 'very unlikely to present risk'. Businesses will no longer need to notify the unit of certain internal reorganisations or when appointing liquidators, special administrators and official receivers. Secondary legislation would be brought to Parliament to put these changes in place.
Nikkei Asia
16 hours ago
- Business
- Nikkei Asia
Clock ticks on Japan PM's time in office as Aug. 1 tariff deadline nears
Japanese Prime Minister Shigeru Ishiba aims to continue presiding over negotiations on U.S. President Donald Trump's tariffs. (Photo provided by Japan's Cabinet Office) RIEKO MIKI TOKYO -- Japanese Prime Minister Shigeru Ishiba has vowed stay in office to avoid a power vacuum amid tariff negotiations with the U.S., but regardless of how the talks go, he may face calls to resign from within his party after Aug. 1, when the duties are set to take effect. Despite his Liberal Democratic Party losing its majority with coalition partner Komeito in Sunday's upper house election, Ishiba quickly expressed his intention to stay on, saying that the important thing is not to let the government "come to a standstill."
Powys County Times
19 hours ago
- Business
- Powys County Times
Water industry may be added to list of sensitive business sectors, says minister
Water companies and their investors could see potential deals face extra scrutiny under plans to add the industry to a list of sensitive sectors. It comes amid an overhaul of regulation for the troubled sector and as firms including Thames Water and Southern Water face financial woes. Communications, energy and data infrastructure are among the 17 sectors that must notify the investment security unit of certain business deals since the list was created in 2021. Chancellor of the Duchy of Lancaster Pat McFadden has asked for businesses' views on extending this requirement to the water sector. It is not expected to affect large numbers of deals but reflects 'increasing risks to the sector's resilience in a growing threat landscape', the Cabinet Office said. 'Data shows our investment security powers are working well, but there's more we can do to ensure our tool kit keeps pace with the modern economy,' Mr McFadden said. 'We're taking action to hone the type of transactions facing the greatest scrutiny, as well as consulting on updates to the sectors of the economy specified in the legislation.' Thames Water is battling to secure funding to shore up its creaking finances and stave off temporary nationalisation by the Government. Southern Water asked its owner, Australian investment firm Macquarie, for an extra £2.1 billion earlier this month to help boost its struggling finances. Making semiconductors and critical minerals into their own standalone categories and moving computing hardware to fall under semiconductors is also being proposed. Mr McFadden also said he planned to remove some requirements that are 'very unlikely to present risk'. Businesses will no longer need to notify the unit of certain internal reorganisations or when appointing liquidators, special administrators and official receivers.
Leader Live
19 hours ago
- Business
- Leader Live
Water industry may be added to list of sensitive business sectors, says minister
It comes amid an overhaul of regulation for the troubled sector and as firms including Thames Water and Southern Water face financial woes. Communications, energy and data infrastructure are among the 17 sectors that must notify the investment security unit of certain business deals since the list was created in 2021. Chancellor of the Duchy of Lancaster Pat McFadden has asked for businesses' views on extending this requirement to the water sector. It is not expected to affect large numbers of deals but reflects 'increasing risks to the sector's resilience in a growing threat landscape', the Cabinet Office said. 'Data shows our investment security powers are working well, but there's more we can do to ensure our tool kit keeps pace with the modern economy,' Mr McFadden said. 'We're taking action to hone the type of transactions facing the greatest scrutiny, as well as consulting on updates to the sectors of the economy specified in the legislation.' Thames Water is battling to secure funding to shore up its creaking finances and stave off temporary nationalisation by the Government. Southern Water asked its owner, Australian investment firm Macquarie, for an extra £2.1 billion earlier this month to help boost its struggling finances. Making semiconductors and critical minerals into their own standalone categories and moving computing hardware to fall under semiconductors is also being proposed. Mr McFadden also said he planned to remove some requirements that are 'very unlikely to present risk'. Businesses will no longer need to notify the unit of certain internal reorganisations or when appointing liquidators, special administrators and official receivers. Secondary legislation would be brought to Parliament to put these changes in place.
North Wales Chronicle
20 hours ago
- Business
- North Wales Chronicle
Water industry may be added to list of sensitive business sectors, says minister
It comes amid an overhaul of regulation for the troubled sector and as firms including Thames Water and Southern Water face financial woes. Communications, energy and data infrastructure are among the 17 sectors that must notify the investment security unit of certain business deals since the list was created in 2021. Chancellor of the Duchy of Lancaster Pat McFadden has asked for businesses' views on extending this requirement to the water sector. It is not expected to affect large numbers of deals but reflects 'increasing risks to the sector's resilience in a growing threat landscape', the Cabinet Office said. 'Data shows our investment security powers are working well, but there's more we can do to ensure our tool kit keeps pace with the modern economy,' Mr McFadden said. 'We're taking action to hone the type of transactions facing the greatest scrutiny, as well as consulting on updates to the sectors of the economy specified in the legislation.' Thames Water is battling to secure funding to shore up its creaking finances and stave off temporary nationalisation by the Government. Southern Water asked its owner, Australian investment firm Macquarie, for an extra £2.1 billion earlier this month to help boost its struggling finances. Making semiconductors and critical minerals into their own standalone categories and moving computing hardware to fall under semiconductors is also being proposed. Mr McFadden also said he planned to remove some requirements that are 'very unlikely to present risk'. Businesses will no longer need to notify the unit of certain internal reorganisations or when appointing liquidators, special administrators and official receivers. Secondary legislation would be brought to Parliament to put these changes in place.
