Top Financial Times Headlines: Major Updates in Utilities, Media Scandal, Mining, and Investments

The Financial Times reports major updates including Thames Water's credit downgrade to 'junk' status, Huw Edwards' guilty plea for accessing indecent images, Rio Tinto's concerns over potential acquisitions, and a new venture between Phoenix Group and Schroders in private market investments.

Thames Water faces a significant setback as S&P downgrades its credit rating to 'junk' status, precipitating a breach of licence conditions and inching the utility closer to renationalization.

In another startling development, former BBC news presenter Huw Edwards has pleaded guilty to charges of accessing indecent images of children, deepening the scandal surrounding the once-revered broadcaster.

Meanwhile, Rio Tinto's Chief Executive warns about the 'big risk' entailed in potential acquisitions, notably a possible takeover of Anglo American. In contrast, Phoenix Group and Schroders have launched a new venture aimed at driving more pension funds into burgeoning private companies.

(With inputs from agencies.)