China grows at one of lowest rates on record; Thames Water has funds to survive to year end – business live

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. China grew 4.3% in the quarter to 30 June, one of the slowest rates on record, as sluggish domestic demand outweighed a surge in exports. Growth slowed from the first quarter rate of 5%, and was the lowest in three and a half years. It was less than economists had forecast, and below Beijing’s 4.5% to 5% target range. Thames Water said this morning that it has enough funding to survive until the end of this year. It is scrambling to put together a rescue recapitalisation plan with creditors, regulators and the government, to stave off temporary nationalisation. Britain’s biggest water company has £515m of cash in the bank, according to its annual report. The company, which serves 16 million customers in London and southern England, has become a symbol of failure in Britain’s privatised water sector, polluting rivers and the sea with sewage due to ageing infrastructure, and strugg