Top Financial Stories in the Financial Times

The Financial Times covers key stories including Thames Water seeking extended debt terms, Nigel Farage relinquishing Reform UK ownership, Charles Roxburgh appointed as Lloyd's of London chair, and Axel Springer executives nearing substantial payouts from a KKR deal.

Thames Water is set to approach the High Court in November to negotiate an extension to its debt terms in order to prevent nationalisation next year. This move comes as the UK's biggest water utility faces considerable financial challenges.

Nigel Farage will relinquish his ownership of Reform UK. Party officials have indicated that the populist movement is set to transition into a 'normal political party.'

Lloyd's of London has appointed Sir Charles Roxburgh, a Treasury veteran, as its new chair. Roxburgh will replace Bruce Carnegie-Brown in one of the insurance institution's most senior roles.

Senior executives at Axel Springer are on the verge of receiving significant payouts as part of the proposed break-up of the German media giant, which has been orchestrated with buyout firm KKR.

(With inputs from agencies.)