High court hands utility company a lifeline after claims it would run out of cash on 24 March

• Thames Water wins court backing for £3bn debt package

Thames Water has won court approval for up to £3bn in emergency debt that will allow it to avoid collapse – at least in the short-term.

The debt package is an important staging post for the utility, which supplies water and sewage services to nearly a quarter of the UK population, as it seeks to repair its finances.