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In the papers today - 4th June 2008

United Utilities chief executive, Philip Green said the UK water sector faces a 'tough challenge' in keeping prices down while dealing with the increasing cost of raising capital, rising energy prices and regulatory pressures...

...Mr Green said capital spending would remain high in the industry as the Government put pressure on the companies to beef up infrastructure projects to cope with future flooding and climate change - The Daily Telegraph

A British Muslim accused of leading an airline bomb plot admitted at Woolwich Crown Court that he planned to explode a device at Heathrow. Abdulla Ahmed Ali, 27, said the airport plan was favoured because"security was not tight" - The Times

Lorries 16 tonnes heavier and 22ft longer than the present maximum of 44 tonnes and 61ft will not be tested in Britain, the Government said, despite ordering a study, which found that bigger lorries could e beneficial - The Times

Three of Britain's biggest energy providers are facing a regulatory crackdown after Ofgem, the energy watchdog, begin to investigate claims that customers using prepaid meters were being hoodwinked to switch to more expensive services. In an open letter, Ofgem said that 63 per cent of electricity prepayment meter customers who changed suppliers last year mistakenly switched their service to one of the three most expensive providers, British Gas, E.ON and nPower - The Times

May Gurney Integrated Services, the support and construction services group, is moving into the municipal waste market with the acquisition of ECT recycling, taking the company into one of the fastest-growing segments in the UK environmental services market. The group which already provides a range of services for local authorities, ranging from highways maintenance to street lighting, is paying £3.4M for ECT - The Daily Telegraph

Airports operator BAA has finally begun talks with the holders of £4.7bn of it's bonds - the key group of investors that could frustrate its proposed refinancing. A day after the Spanish owned operator of seven UK airports secured backstop financing of £7.65bn from a consortium of nine banks, BAA said it had begun consultations "about the migration of its non-convertible existing bonds with a special committee" convened via the Association of British Insurers - The Daily Telegraph

Consumers face years of rising gas and electricity bills as the UK heads towards an energy crunch, according to the chief executive of one of Britain's biggest power companies. Paul Golby, of E.ON UK, said it was time for the Government to come clean about the extent of the UK's energy needs - and what it will mean for domestic prices - The Daily Telegraph

Imperial College London is to set its own entrance exam because it believes that grade inflation has "destroyed" A-Levels as a way of distinguishing between candidates - Independent

Willie Walsh, British Airways chief executive, says he is confident that tomorrow's increase in flights at Heathrow Terminal 5 will not trigger another baggage fiasco - Guardian

E.On warned yesterday that Britain will need substantial fossil fuel generation to back up the renewable energy it needs to meet EU targets. The UK has to meet a target of 15% of energy from renewables by 2020 - Guardian

More than a quarter of young working households are unable to get onto the property ladder because of mortgage difficulties and house prices that remain unaffordable - Financial Times

Rich countries came under attack yesterday at the United Nations food summit for their biofuel subsidies and production targets, declining spending on development aid for agriculture and large subsidies to European and US farmers - Financial Times

India needs to add the equivalent of about half the electricity generating capacity of the UK each year - about 30GW - if it is to maintain its present rapid rate of economic growth a report has shown - Financial Times

The US administration moved a step closer to building a nuclear waste dump at Yucca Mountain, 90 miles north west of Las Vegas, by filing a formal application for a construction licence yesterday - Financial Times

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