China’s economy grew by 4.3% in the second quarter, one of its weakest rates in years, missing forecasts and slipping below Beijing’s target range as weak domestic demand offset strong exports. That matters because slower Chinese growth can affect global trade, investment and market confidence. At the same time, Thames Water said it has enough cash to keep operating until the end of 2026 while it works on a rescue plan to avoid temporary nationalisation, keeping attention on the wider problems in England’s privatised water sector.

The Guardian reports that China’s growth slowed from 5% in the first quarter and was the lowest in about three and a half years. Thames Water said it had £515m in cash, while its debts rose to £18.5bn; however, it also said sewage pollution fell 18% over the year to March and underlying post-tax profit rose to £203.9m from £12.6m. Markets were also influenced by geopolitics and inflation data: Brent crude rose 0.7% to $85.3 a barrel after tensions around Iran and the Strait of Hormuz, while Asian shares rose and bond yields fell after softer-than-expected US inflation.