Press Digest: Financial Times - October 3
03/10/2025 03:50
Oct 3 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - Thames Water creditors offer 25% debt write-off for more lenient targets - Lloyds and Schroders to abandon UK wealth joint venture - Music labels close to landmark AI licensing deals - Denmark loses 1.4 billion pound London tax fraud case Overview - The senior creditors of Thames Water aiming to acquire the company have proposed writing off 7.5 billion pounds ($10.11 billion) of debt and investing 3.15 billion pounds ($4.23 billion) of new equity, as part of their turnaround plan. - Lloyds Banking Group LLOY.L will take control of Schroders' SDR.L 49.9% stake in Schroders Personal Wealth, winding down the partnership after the unit failed to meet growth targets and grappled with frequent leadership changes. - Universal Music UMG.AS and Warner Music WMG.O are nearing landmark artificial intelligence licensing deals. - Denmark's tax authority largely lost its 1.44 billion pound ($1.94 billion) London lawsuit against hedge fund founder Sanjay Shah and an array of companies for defrauding the Nordic state in a "cum-ex" dividend trading scheme. ($1 = 0.7441 pounds) (Compiled by Bengaluru newsroom) ((globalnewsmonitoring@thomsonreuters.com))