A new research initiative to look at the current state of innovation in the UK water sector will look at both the development and uptake of innovative technologies -and how the UK can gain a share of a global marketplace worth an estimated $424 billion.

Spending on IT by Western European utilities will reach $12.7 billion a year by 2017, according to a new forecast report published by IDC Energy Insights.

The new Environmental Technology Verification (ETV) received favourable views among delegates at a WRc event yesterday, but there were minor reservations from the supply chain about engagement from the water companies.

The Government has today published the long-awaited Water Bill which sets out water industry reform and clauses on flood insurance.

Severn Trent has said the LongRiver Partners consortium has "not been able, or willing, to bridge the value gap" after the suitors walked away from a potential deal yesterday.

Borealis Infrastructure Management and its partners in the LongRiver Consortium have announced the abandoning of a £5.3 billion offer for Severn Trent.

Nomenca, the mechanical and electrical subsidiary of North Midland Construction, has seen profits climb 28.4% to £1.32 million, as reported in its financial results for year ended 31 December 2012.