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Financial Times - July 25

The following are the top stories in the Financial Times. has actually not validated these stories and does not attest their precision.

Headlines

- Thames Water's credit ranking slashed to 'scrap'

- Reckitt releases wide-ranging restructuring strategy

- IAG takeover of Air Europa in peril as EU authorities signal issue

- UK indications brand-new defence pact with Germany

- French regulator pulls licence for Vincent Bolloré's TV channel C8

Introduction

- Britain's largest water service provider Thames Water suffered a. major blow in its fight to prevent renationalisation as credit. ranking firm Moody's reduced its business household rating (CFR). and its most safe tranche of financial obligation to junk.

- Consumer group Reckitt has launched a tactical. review of its infant formula company Mead Johnson and revealed. strategies to sell a large portfolio of its home care brand names,. including Air Wick and Cillit Bang, in an effort to improve. business.

- British Airways owner IAG's takeover of Spain's. Air Europa is close to deciphering after EU authorities signified. that the airline company group had still not done enough to ease. issues over the effect of the deal on competition.

- Britain and Germany signed a joint defence declaration,. promising to work more carefully to enhance their defence. industries, enhance European security and support Ukraine in. its battle to fend off Russian forces.

- France's broadcast regulator has actually declined to renew a. licence for an entertainment channel C8, owned by conservative. billionaire Vincent Bolloré, for factors including promoting. conspiracy theories and phony news, in addition to for not appreciating. pluralism.

(source: Reuters)