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In the papers - Monday, 12 May 2008

Local authorities are looking into the possibility of launching legal action against building companies accused last month of cover-pricing and bid-rigging by the Office of Fair Trading...

...Councils have contacted David Greene, the solicitor behind the Northern Rock and Railtrack shareholder action cases - The Times

Managers rushing to invest in infrastructure will hit a milestone today when Morgan Stanley and a private equity firm backed by Credit Suisse and General Electric announce they have raised a combined £5.1bn for two funds. James Gorman, Morgan Stanley's co-president said: "The successful fundraising underscores the particular demand for infrastructure investment and broadly for alternative assets that generate long-term stable cash flows." - Financial Times

A major rail company has been accused of misleading passengers by advertising cheap seats which were bit for sale. National Express East Coast has been offering £15.50 Glasgow-to-London fares, but none of these tickets were available for journeys on July 17, 18 and 21, says rail union TSSA – TheDaily Telegraph

One of Labour's biggest donors is behind a project to build a 15,000 home eco-town, The Daily Telegraph can disclose. The Co-operative Group is bidding to build an eco-town called Pennbury on land it own between Stoughton and Great Glen in Leicester – The Daily Telegraph

More than one million unsold properties are on the market, as homeowners take the longest time on record to sell their homes. There are 1.03 million properties up for sale in Britain – a 15% increase on a year ago – The Daily Telegraph

The Government has rules out selling British Energy (BE) to a lone bidder, despite the auction for the owner of Britain's nuclear reactors drumming up interest only from France's EDF by last Friday's deadline. The Daily Telegraph understands that the Government, which has a 35.2% share in BE, is maintaining its position that no one body should have full ownership – The Daily Telegraph

The number of overseas tourists visiting London this year is expected to grow at its slowest pace since the terrorist attacks in the US in 2001 as the credit crisis and a global economic slowdown threaten to derail consumer spending. The forecast from Visit London the capital's tourist board follows the release of figures that show that record umbers of overseas tourists visited London for the second consecutive year in 2007 – The Daily Telegraph

Greenwich Park was hailed as the ideal location for three-day eventing at the 2012 Olympics, but it was claimed yesterday that one vital concern was overlooked: it is far too small. Leading figures in the equestrian world have joined local campaigners in attacking plans to convert the the oldest enclosed Royal Park into an Olympic venue – The Daily Telegraph

The board of British Airways will meet this week to decide whether chief executive Willie Walsh should be awarded a performance bonus of more than £600,000 after the Heathrow Terminal 5 fiasco. The board meeting is to take place on Thursday, before BA's full-year results on Friday. It will be the first full-scale board meeting since the disastrous opening of T5, which saw passengers stranded as hundreds of flights were cancelled after the collapse of the terminal's baggage-handling system - The Guardian

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