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In the papers today - 28 September

Cutting carbon emissions should become the European Union's primary purpose, David Miliband, the environment secretary, said yesterday. He told delegates at the Labour Party conference that the EU would appeal to a new generation only if it came to stand for Environmental Union. Using its collective power to curb domestic greenhouse gas emissions, negotiate international agreements on global reductions and ex-clude energy-inefficient pro-ducts from its market would give the EU a 'vision worth fighting for', he said. The Financial Times
ACS, the Spanish construction group, said that it had bought 6.3 per cent of Iberdrola, Spain's second-largest electricity company - short of the 10 per cent that it had sought, but enough to start speculation on its aims. ACS's move came after a similar step on Monday by Acciona, another Spanish construction group, which bought 10 per cent of Endesa, Spain's largest power company. This forced E.ON, of Germany, to raise its own offer for Endesa to £23.70 a share, nearly 40 per cent up on its earlier bid - The TimesRussia President Vladimir Putin of Russia warned Wednesday that the authorities would take action against 'unconscientious' oil and gas companies that failed to fulfill their license obligations. Putin made his remarks at a meeting with Yury Trutnev, the natural resources minister, amid tensions between the state and Western energy investors, particularly over the Sakhalin-2 oil and gas project in the Russian Far East - The International Herald TribuneEurope's antitrust authority suffered a significant blow Wednesday when the European Commission overruled its own competition chief and agreed to allow three major steel companies to merge their steel tube divisions. The decision raised doubts about the EU's ability to enforce a clear antitrust policy at a time when the pressures of recession are forcing European industry to make hard decisions about merging with competitors in order to survive - The International Herald TribuneThe explosive growth of the Chinese economy over the past seven years has been linked with a rise in emissions of man-made methane, a study in Nature magazine has found. Methane is the second most important greenhouse gas and, molecule for molecule, it is about 20 times as potent as carbon dioxide in its ability to exacerbate global warming - The IndependentGovernment plans for a flat tax on the profits from all new property developments will hit homeowners looking to sell unused garden to developers, it has emerged. Property experts say that households face paying up to 30pc of the increased value of the land in tax when they gain planning permission for development, if the new Planning Gain Supplement (PGS) is introduced in 2008 - The Daily Telegraph

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