Top Financial Stories: Thames Water Downgrade, Reckitt's Restructuring, EU Concerns Over IAG Deal

The Financial Times highlights key economic and corporate stories, including Thames Water's downgrade, Reckitt's new restructuring plan, IAG's troubled Air Europa takeover, UK's defense pact with Germany, and the French regulator's crackdown on Vincent Bolloré's TV channel C8.

The Financial Times revealed several impactful stories today, touching on significant movements in the financial world. Thames Water faced a considerable setback as Moody's downgraded its credit rating to 'junk' amid ongoing renationalization challenges.

Consumer goods giant Reckitt announced a strategic overhaul, including the sale of its Mead Johnson infant formula business and home care brands like Air Wick and Cillit Bang. This move aims to streamline operations and boost profitability.

In aviation news, IAG's planned takeover of Air Europa is nearing collapse, with EU authorities expressing concerns over competition impacts. Meanwhile, the UK and Germany solidified their defense collaboration, and France's regulator revoked Vincent Bolloré's C8 TV channel license for violations including spreading conspiracy theories.

(With inputs from agencies.)