Man with sword arrested after stabbing spree in London, teenage boy dies
London, Apr 30: A sword-wielding man on Tuesday smashed a vehicle into a home and then went on a stabbing spree in a "serious incident” near an east London Tube station, killing a 13-year-old boy and wounding four people, before being arrested, the Metropolitan Police said.
The police said the incident did not appear to be linked with "any act of terrorism” and that of the five people injured, a boy has died from his injuries and the others, including two police officers, remain in hospital after the attack in Hainault area of the city.
"A 13-year-old boy was taken to hospital after being stabbed and sadly died a short while after. The child's family are being supported by local officers and are now with some specialist officers,” said Met Police Chief Superintendent Stuart Bell in a statement.
He confirmed the 36-year-old suspect was tasered within 22 minutes of the first call and remains in custody.
"I cannot even begin to imagine how those affected must be feeling. My thoughts are with the injured, their families and the wider community as we all begin to come to terms with what has happened and try to understand what has happened here.
"I know that there will be clearly and understandably a desire for answers and an explanation to what happened. Our investigation is in its very early stages and my officers are working right now to establish the full facts as a priority," he added.
British Prime Minister Rishi Sunak described it as a "shocking incident”, saying that such violence has no place on the country's streets.
"This is a shocking incident. My thoughts are with those affected and their families. I'd like to thank the emergency services for their ongoing response, and pay tribute to the extraordinary bravery shown by police on the scene,” said Sunak.
"Such violence has no place on our streets,” he said.
There is a police presence at the scene in Hainault, with images of a smashed van visible in a large cordoned off area and the nearby tube station being closed down.
“This must have been a terrifying incident for those concerned. I know the wider community will be feeling shock and alarm. People will want to know what has happened and we will provide more information as soon as we can,” said Met Police Deputy Assistant Commissioner Ade Adelekan.
Eyewitnesses said they saw a standoff between the suspect and the police before he was tasered as he attempted to force his way into a house.
Earlier, the police and emergency services said they were called just before 7am local time to reports of a vehicle being driven into a house at Thurlow Gardens in east London. Video footage on social media shows the bearded suspect walking around bushes with a large bladed sword after he smashed the vehicle into a home.
“We do not believe there is any ongoing threat to the wider community. We are not looking for more suspects. This incident does not appear to be terror-related,” the Met Police said.
London Mayor Sadiq Khan praised the emergency services for their quick action.
"The police and emergency services showed the best of our city – running towards danger to protect others and I thank them from the bottom of my heart," he said in a statement.
UK Home Secretary James Cleverly said on X that he was being updated "regularly" on the incident.
“My thoughts are with those who have been affected & thank you to the emergency responders. I would urge people not to speculate or share footage online and provide relevant information to the police,” he said.
Wes Streeting, the Labour MP for the area, thanked the "heroic" police officers who put themselves in harm's way in response to the "horrific incident".
"My prayers are with those who've been injured and their loved ones. I know there will be widespread fear and alarm in our community,” he said.
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Adani touts financial strength, shows can grow without external debt
New Delhi (PTI): Billionaire Gautam Adani's conglomerate on Monday touted its financial and credit details of its portfolio companies to investors, showcasing its robust profits and cash flows that can sustain growth without reliance on external debt.
The ports-to-energy conglomerate, which has been hit by an indictment in a US court against its founder chairman Gautam Adani and two other executives for allegedly bribing Indian official to secure solar power contracts, in a presentation to the investors highlighted its consistently expanding profits and cash flows, which over a period have led to lowering dependence on debt for its growth ambitions.
Equity now accounts for almost two third of its total asset creation, a stark contrast to five years ago. In the last six months, the group has invested close to Rs 75,227 crore, against a total debt increase of only Rs 16,882 crore.
A note was also shared with the investors, along with presentations.
Outlining the group's liquidity position, the note said, "Adani Portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani Portfolio companies had a cash of Rs 53,024 crore, which was close to 21 per cent of its total gross debt outstanding".
This amount, it said, was sufficient to cover the next 28 months of debt servicing requirement.
GROWTH WITHOUT DEBT
In the past, the group has announced plans to invest over Rs 8 lakh crore (USD 100 billion) across portfolio companies in the next ten years.
The Fund Flows from Operations (FFO) or cash profits stood at Rs 58,908 crore for the last twelve months and is growing over 30 per cent for the past five years. On the basis of this, even after assuming no growth, the group will be able to invest Rs 5.9 lakh crore only from its internal cash accruals over the next ten years, leaving very little dependency on external debt.
Further, at the portfolio level, there is very low debt gearing of 2.46x -- which means it has massive headroom for debt, according to the presentation.
Other highlights from the presentation included EBITDA (earnings before interest tax and depreciation) for the last twelve months, which it said is highly stable and hence predictable due to its infrastructure projects, which grew by 17 per cent to Rs 83,440 crore.
Also, existing annual cash flows alone can pay the entire debt in 3 years.
Gross assets/investments increased by Rs 75,227 crore, against total debt increase of only Rs 16,882 crore. Asset base has now increased to Rs 5.5 lakh crore.
Average cost of borrowing at 8.2 per cent, lowest in the last 5 years, due to upgrade in ratings across group companies, it said.
Adani Group's long-term debt from domestic banks was Rs 94,400 crore. This stood against a cash balance of Rs 53,024 crore, most of which was parked with Indian banks.
Borrowings from global banks were 27 per cent of total debt.
