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Civil Engineering in the papers today - Wednesday 11 March 2009

Shares in Eon, Germany’s largest energy company, tumbled yesterday after it warned that adjusted net income would fall by 10% this year as the recession saps European demand for electricity and gas… . .

The Dusseldorf-based itility would be hit by interest expenses on its enlarged debt pile, higher regulatory costs and the weakness of currencies such as the British pound and Swedish krona - Financial Times

Fears that the British economy could shrink by 4% this year were raised yesterday after news that plant closures and short-time working have caused the longest series of falls in factory output in more than four decades - The Guardian

The head of the UN body charged with leading the fight against climate change has conceded that Barack Obama will face a “revolution” if he commits the US to the deep carbon cuts the scientists and campaigners say are needed - The Guardian

Global sea levels could rise much higher than previously projected, raising the threat level for millions of people who live in low-lying areas, new research suggests. Scientists at a climate change summit in Copenhagen say changes in the polar ice sheets could raise sea levels by a metre or more by 2100 - The Guardian

Ferrovial faces a shareholder revolt over plans to buy out minority investors in its separately listed Cintra toll road group. Institutions representing about 13% of the company’s free float have clubbed together to oppose the merger, which they say has “extremely limited rationale” for Cintra, with “all the benefits flowing to Ferrovial” - Financial Times

Hundreds of jobs are under threat after the Shropshire-based Wrekin Construction Group, which banks with Royal Bank of Scotland, went into administration. The company, which employs up to 600 workers acriss Britain, said that it had millions of pounds worth of orders -The Times

Scott Wilson, the design and engineering consultancy, fell 20.5p to 50.75p after it said that clients in the UK and Middle East were postponing or cancelling projects and in some cases abandoning work in progress. The company increased its provisions for bad debt from certain client contracts, is cutting 10% of its 6,600 staff and is freezing salaries - The Times

Sea levels will rise much faster over the next century than has been expected, even if governments are successful at controlling greenhouse gas emissions, scientists warned yesterday. Advances in the understanding of the mechanisms that control how quickly ice sheets melt have shown that sea levels are likely to rise by 1m before 2100 - The Times

Up to 25 hydroelevetric schemes generating enough renewable enegy to power 40,000 homes may be sited on stretches of river including the Severn and the Trent. British Waterways, which manages more than 2,200 miles of navigable canals and rivers, claims that its project will save 170,000t of carbon dioxide a year - The Times

Pedestrians will be made to walk faster on crossings under a plan favouring motorists that Boris Johnson, the Mayor of London, has proposed. Digital signs that count down the seconds until cars get a green light would be introduced at 6,000 sets of lights - The Times

Uk’s manufacturing output is declining at the fastest rate since records began more than 40 years ago with a 12.8% drop since January last year - Daily Telegraph
 
Quintain Estates and Developments, the social housing group which are currently redeveloping the area around Wembley Stadium, have struck a deal with lenders to renegotiate the terms of it’s £620m debt. This move has won the backing of investors with share prices rising 23% following the announcement - Daily Telegraph
 
Weir Group, one of the leading equipment suppliers in the power sector, are embarking on an extensive cost-cutting programme which will see their supply chain cut by 10% in the short term, with the workforce expected to halve in the next few years. The move comes despite no loss of business with orders in the first two months of 2009 30% up on the same period last year - Daily Telegraph
 
Cairn Energy, the Scottish oil exploration group planning to announce a share placing of up to £120m today as it prepares to open a new office for production in India. production - Daily Telegraph

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