Thursday newspaper round-up: Thames Water, HS2, Yodel

(Sharecast News) - Thames Water has been ordered to update its service commitment plan by the regulator Ofwat after a minister said the company's performance in regards to sewage dumping and serving customers was "completely unacceptable". Robbie Moore, the floods minister, said Britain's biggest water supplier was "under no illusions over the scale of the challenge" as MPs heard that Thames had allowed waterways to become polluted and homes to be flooded with sewage. - Guardian

Andy Burnham, the Labour mayor of Greater Manchester, and Andy Street, the Tory mayor of the West Midlands, have joined forces on alternative and cheaper plans for the scrapped section of HS2, warning that "to do nothing is not an option". Burnham and Street shared a stage on Wednesday to put forward three options after the government abandoned the long-promised northern section of the high-speed rail line. - Guardian

The struggling parcel courier Yodel is preparing to call in administrators as hopes of a rescue deal fade, threatening disruption to online shopping. Insolvency experts at Teneo have been lined up after efforts to find a buyer for a company which provides delivery services for some of the high street's biggest names began to flounder. Yodel's customers include John Lewis, Argos, Zara and AO World, according to its website. - Telegraph

Deloitte has put a further 100 roles at risk of redundancy in the UK as part of its attempt to cut costs. The Big Four accountant has said the proposed job cuts will be made across the firm's employee ranks, affecting roughly 5pc of Deloitte's financial advisory business. It comes as Deloitte battles a slump in dealmaking amid high interest rates. - Telegraph

Government staff have been sacked for allegedly sharing details of potential jobs with private sector insolvency practitioners. The government's Insolvency Service said three people had been dismissed "following an investigation into case data being improperly shared with two insolvency practitioners". - The Times

An investigation by the City regulator into car finance loans could have "significant financial ramifications" for lenders, a top official at the Bank of England has warned. The comments by Sam Woods, a deputy governor at the Bank, will fuel speculation that lenders face the threat of big fines or hefty compensation payouts as a result of the inquiry, which was announced by the Financial Conduct Authority last month. - The Times