Potential investors in Thames Water will have to submit new bids for the water utility by Feb. 10, Bloomberg News reported. The highly indebted company told bidders to take industry regulator Ofwat’s December ruling about the scope for bill increases and investor returns into account for their submissions. Thames Water has been looking to raise at least £3.3 billion ($4.1 billion) in new equity after its existing shareholders declared the business “uninvestible” and kicked off a formal bidding process.

Backpack Exchange, a crypto trading platform founded by one-time employees of Sam Bankman-Fried’s FTX and Alameda Research businesses, has acquired the former European entity of the failed FTX exchange for $32.7 million to expand its derivatives offerings in the region, Bloomberg News reported. FTX EU was one of the business units that ended up as part of the bankruptcy after Bankman-Fried’s firm collapsed in 2022.

Euro zone households could keep saving a large portion of their income to rebuild wealth lost to high inflation, the European Central Bank argued, suggesting lacklustre consumption will continue to weigh on growth in the near term, Reuters reported. European families are sitting on an ever-growing pile of savings, confounding hopes that consumer largesse will kickstart the region's stagnant economy.

There is “significant uncertainty” about the ability of weaker UK home owners whose debt was bundled into residential mortgage-backed securities to repay the principal when the loans mature, according to Fitch Ratings, Bloomberg News reported. Sharp rises in mortgage rates have led to a spike in so-called nonconforming borrowers failing to make their full monthly payments. In an index of those home loans tracked by the ratings agency, arrears of one month or more surged 11.1 percentage points to 24.2% from December 2021 through November 2024.

The U.S. Justice Department said on Tuesday it will share $50 million in forfeited assets with Estonia in recognition of Estonia's assistance in the successful prosecution of Danske Bank and related forfeiture, Reuters reported. The bank became the subject of several investigations after an internal probe in September 2018 uncovered about 200 billion euros ($207 billion) of payments made through its now-shuttered Estonian branch, with many payments appearing suspicious.

Northvolt AB is asking for shareholder approval to keep building battery cells while the bankrupt electric-vehicle supplier seeks the new funding needed to emerge from chapter 11 protection, Bloomberg News reported. The extraordinary general meeting scheduled for Wednesday at Northvolt’s Stockholm headquarters is billed as a “procedural step” by the company. The gathering, announced in December, is required when equity falls below one-half of registered share capital, spokesman Martin Hofelmann said in an email.

The U.K.’s long-term borrowing costs surged to the highest level in more than a quarter of a century, raising the prospect of Chancellor of the Exchequer Rachel Reeves needing to raise taxes again in order to meet her fiscal rules, Bloomberg News reported. The yield on 30-year gilts climbed four basis points to 5.22% on Tuesday after the first of a string of bond sales due over the coming weeks.