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In the papers today - Friday 25th July 2008

The French electricity group EDF is ready to announce a £12bn takeover of nuclear power generator British Energy, possibly next week. . . . . . .

Shares in the company, which operates Sizewell B and most other UK nuclear power plants, rose 6% to 724p before it released a statement confirming it was in "advanced discussions" with one party - The Guardian

Controversial plans for the first new settlement to be built in the occupied West Bank in almost a decade have been revived by Israel's defence ministry, despite calls by the international community for a freeze in construction, which is illegal under international law. A key planning committee at the ministry has approved a plan to build 20 homes in a new settlement in the Jordan valley to be called Maskiot - The Guardian

Asian governments, faced with the highest inflation for a decade or more, are shelving billions of dollars worth of landmark infrastructure projects and shifting funds to more immediate economic assistance. Given the threat presented by surging food and fuel prices, "the long-term projects go by the wayside in favour of short-term sops to keep people happy", said Edward Teather, an economist at UBS in Singapore. "Clearly, inflation now affects everybody." - The Financial Times

EDF is close to agreeing a takeover of British Energy, the nuclear generator, for more than £11bn in a deal that could be announced as early as next week. Both sides said yesterday that progress had been made in the lengthy negotiation process - The Financial Times
The booming liquefied natural gas market helped BG Group, the oil and gas company, almost double its earnings in the first half of the year. Frank Chapman, chief executive, also talked about "really excellent" progress in the oil fields that the company is exploring in Brazil - The Financial Times

One of Britain's most windswept schools has taken advantage of its position on an exposed Cornish headland to reduce its electricity bills by up to 90%. Gorran School, near St Austell, has attracted £55,000 in grants to install a 50ft (15m) wind turbine in a corner of its playing ground - The Times

French energy company EDF said yesterday that it was in "advanced discussions" about an £11bn takeover of nuclear generator British Energy (BE). The deal would give EDF, with British Gas owner Centrica, control of BE's eight reactors and a role in building Britain's planned new generation of nuclear power stations - The Daily Telegraph

When Sweden scuttled 20 huge wooden warships more than 250 years ago, it was seen as a desperate measure to block the enemy Danish fleet. Now those same wrecks could scuttle the key component of a European energy plan - the construction on a 1,200km (746-mile) gas pipeline along the cluttered floor of the Baltic sea - The Times

Scottish and Southern Energy yesterday gave the clearest warning yet from leading home energy suppliers that consumers must brace themselves for a new round of gas and electricity price increases.SSE said that despite a sharp dip in the oil price in recent weeks, it was becoming increasingly difficult to hold the prices paid by its nine million customers at current levels - The Independent

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