Financial Shifts: Nuclear, Banking, and Water Under the Spotlight

Financial Times highlights key developments: Rolls-Royce's nuclear stake is sold to Czech CEZ, HSBC counteracts split rumors, Vivendi's shareholder tensions rise over a split proposal, and S&P downgrades Thames Water amidst financial struggles.


Devdiscourse News Desk | Updated: 30-10-2024 08:11 IST | Created: 30-10-2024 08:11 IST
Financial Shifts: Nuclear, Banking, and Water Under the Spotlight
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Rolls-Royce has made a strategic move by selling a 20% share in its small nuclear reactor business to CEZ, a Czech electricity producer. This sale marks a significant shift in the company's nuclear ventures.

In the banking sector, HSBC CEO Georges Elhedery reassured stakeholders that there are no intentions of a formal east-west operational split despite current geographic footprint adjustments, aiming to maintain stability amidst industry changes.

Vivendi faces shareholder discord as CIAM, a minority investor, calls for rejecting the firm's split into three entities. Additionally, Thames Water's financial turmoil intensifies with S&P's downgraded rating to 'junk' territory following emergency financing negotiations with creditors.

(With inputs from agencies.)

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