High-Stakes Moves in Global Business: Abu Dhabi's Thames Water Write-Off and Gucci's New CEO

Abu Dhabi's sovereign fund writes off its stake in Thames Water amid utility's struggles. ENRC drops its media leaks lawsuit against the UK's Serious Fraud Office. Hedge fund Elliott maintains interest in Anglo American. Europastry postpones IPO again, and Kering appoints Stefano Cantino as Gucci's new CEO.

In a significant financial maneuver, Abu Dhabi's sovereign wealth fund has decided to write off its 9.9% stake in the ailing Thames Water. The troubled British utility has been facing numerous challenges, prompting the fund to make this strategic decision.

Furthermore, Britain's Serious Fraud Office recently resolved legal tensions with Kazakh mining entity ENRC. The corporation had accused the agency of leaking sensitive probe details to the press, but the lawsuit has now been settled, with no damages owed by the SFO.

Meanwhile, activist hedge fund Elliott remains staunch in its commitment to Anglo American, voicing continued interest despite market fluctuations. Simultaneously, luxury brand Kering announced the appointment of former Louis Vuitton executive Stefano Cantino as the new CEO for Gucci, marking a pivotal leadership change.

(With inputs from agencies.)