The Pre-Budget Report has at its core a £15bn hole, which must be funded from public spending cuts of some 3% per year in areas such as transport, according to research from the Institute for Fiscal Studies (IFS) today.

Thames Water has appointed CH2M Hill as programme manager for the £2bn Thames Tideway 'super sewer' project, which was approved in March 2007.

Contractor Carillion today reported a 39% rise in pre-tax profits for 2007, following completion of its acquisition of Alfred McAlpine last month.

A new damped outrigger system to stabilise tall buildings has cut the cost of a 200m tall residential tower in the Philippines by around £2M, the designer has claimed.

Energy regulator Ofgem has fined National Grid £41.6M for breaching competition law, by restricting competition in the domestic gas meter market.