UK's Thames Water earnings rise, says still working on recapitalisation plan

Britain's Thames Water posted a 92% rise in half-year earnings and said pollution spills had fallen by a fifth, adding that talks with government and regulators to agree the terms of a recapitalisation deal were ongoing.

Senior creditors have offered to write-off debt and invest new equity in a last-ditch plan to help the country's biggest water company avoid nationalisation.