The UK government announced plans to create a new regulator for the water industry, abolishing Ofwat amid scandals over sewage levels and financial mismanagement. Environment Secretary Steve Reed stated the new regulator would merge four existing bodies to improve regulation. The overhaul follows recommendations from Sir Jon Cunliffe's report aimed at restoring investor confidence and protecting consumers. While some welcome the changes, environmental campaigners argue they are insufficient to address sewage dumping issues. Teljes cikk (Euronews.com)