Water regulator Ofwat has failed to protect consumers' interests and should apply tough sanctions against companies that do not fix leaking pipes say MPs.
In a report released today the Commons Public Accounts Committee criticised the regulator for failing to fine Thames Water after it missed leakage targets six years in a row - Financial Times
Babcock International moved closer to a £350M acquisition of Devonport naval dockyard last night after reaching an initial agreement with the yards owners - Financial Times
Shared in mining giant Rio Tinto soared by more than 20% in feverish late trading as investors placed bets on a £50bn bid from rival BHP Billiton or a private equity buyer. Rumours suggested BHP was planning a hostile offer after Rio had rebuffed a friendly approach - The Telegraph
Two reports into the causes of a huge oil spillage at BP operations in Alaska blame the company's cost-cutting and management culture for the accident - The Telegraph
The government drew sharp criticism from the country's fledgling renewables industry yesterday as it relaunched a controversial grant system but slashed the funds available for some technologies. The government said it would restart the low carbon buildings programme at the end of May after suspending it in March - The Guardian