Evening Wrap: today's top business stories

News stories from around the web.

New Statesman

Thames Water paid no UK corporation tax for the year (BBC)

Thames Water, the UK's biggest water firm, paid no corporation tax this financial year despite making £145m in pre-tax profit.

It said it had delayed paying corporation tax due to investments in its infrastructure amounting to £1bn a year between 2010 and 2015.

FTSE 100 led down by miners on China worries (Reuters)

LONDON - Britain's benchmark share index edged lower on Monday, with weakness in miners on the back of soft Chinese data only partly offset by demand for healthcare and travel shares cheapened by a recent sell-off.

Standard and Poor's lifts US credit outlook (BBC)

Rating agency Standard and Poor's has raised its credit outlook for the US economy from negative to stable.

In August 2011, S&P downgraded the US rating one notch from AAA to AA+, but now believes further downgrades are less likely as the economy continues to recover.

UK in growth mode as recovery gathers pace, says OECD (Telegraph)

The UK remains in growth mode, according to the Organisation for Economic Co-operation and Development (OECD), supporting hopes that the recovery is gathering strength.

Backlash over US snooping intensifies (FT)

The Obama administration was coming under mounting bipartisan pressure to scale back electronic surveillance following revelations last week that have raised new questions about government intrusion into citizens’ privacy.