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In the papers today - 12 September

Bovis Homes looks set to get approval to build 3,000 new homes at Wellingborough in Northamptonshire, securing a key part of its strategy to reposition itself as a mid-market housebuilder.
The company, which used to specialise in four and five-bedroom detached houses, decided three years ago to shift more towards the mass market two and three-bedroom home segment as margins at the top-end came under pressure. - Financial TimesEurope's national energy giants would be exposed to greater competition or even broken up under a drive to transform the sector announced today by José Manuel Barroso, European Commission president.Mr Barroso says new laws are the only way to guarantee increased access to Europe's energy market and to give 'muscle' to regulators to break the grip of monopolistic suppliers on the market.In an interview with the Financial Times, Mr Barroso says: 'In energy terms I can tell you that I am more convinced than ever that we need new legislation concerning regulation.' - Financial TimesA carpenter suffering from mesothelioma, the asbestos-related disease, has won agreed damages of £400,000 from his former employer. Field Fisher Waterhouse, the law firm acting for Amargeet Singh Dahele, said it believed this was one of the highest-ever settlements in such a case. Mr Dahele claimed to be regularly exposed to asbestos dust and fibres while working on three tower blocks in Stratford, east London. His former employer admitted liability and agreed to pay towards the cost of chemotherapy treatment not available on the National Health Service, as well as nursing care and equipment - Financial TimesLeading private sector companies claimed yesterday to have joined the battle against climate change with a groundbreaking deal worth up to £400m to buy 29.5m tonnes of carbon credits from China. The deal will allow a Chinese chemical company to construct a special system for eliminating super greenhouse gas, HFC 23. It in turn will sell carbon permits to companies such as Centrica, owner of British Gas, allowing it to meet its carbon reduction targets while continuing with its current rate of emissions.- GuardianA £455m 'carbon fund' launched by the investment banking group Climate Change Capital and dedicated to making money out of reducing global warming, has made its first investment.The fund, which is the largest of its kind in the private sector anywhere in the world, will make money by buying certified emission reductions in economies such as China and selling them to European companies that are short of permits for the EU's carbon trading scheme. - TelegraphElectricians at the Hunterston A and B nuclear power stations in Scotland are to strike next week over a pay dispute with their employer Balfour Kilpatrick. Talks with the owner of the two stations, British Energy have failed to resolve the dispute over the removal of a 50p-an-hour allowance. - IndependentClimate Change Capital, the specialist bank, has raised by far the largest private sector fund dedicated to investment in clean energy and reducing greenhouse gas emissions, with Centrica and two blue-chip pension funds among the investors. The fund has raised $830m (£450m) in just three months and is expected to top $1bn before closing, with investors including two of the world's top five pension funds, ABP and PGGM, both public sector funds in the Netherlands. Most of the money will be invested in the developing world. - IndependentASHFORD International, the £100 million Eurostar station in Kent, is to lose most of its services to the continent, forcing passengers across the South Coast to drive to London to catch the train. From October next year, Ashford will lose all its services to Brussels and more than half its services to Paris. Trains will stop instead at Ebbsfleet, a new Eurostar station near the M25 at Gravesend. - TimesA MERGER between ScottishPower and Scottish and Southern Energy is unlikely to happen for at least a year, industry observers believe. The companies have had an on-off flirtation forfive years, but analysts believe that there are still hopes that they will cement a £20 billion merger, given the increasing consolidation among European utilities. However, people familiar with the sector believe that Philip Bowman, the relatively new chief executive of ScottishPower, has more to do to pull the Edinburgh-based company into shape before any deal. - Times

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