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In the papers today - Thursday 26 April

Companies and individuals are spending millions on 'carbon credit' projects that yield few, if any, environmental benefits.
A Financial Times investigation has uncovered widespread failings in the new markets for greenhouse gases, suggesting some firms are paying for reductions that do not take place - Financial TimesPortsmouth Football Club has signed up Beijing Olympic Games 2008 stadium architect Herzog & De Meuron to design a new 36,000 seat stadium in the city's dock area - Financial TimesBAA has confirmed it will spend £9.3bn on Heathrow, Gatwick and Stansted by 2018. However these plans may be undermined by the Compeition Commission investigation into the company which could force it to sell off one of the airports - Financial TimesNetwork Rail is issuing £10bn of bonds over the next two years to fund new investment and help refinance its short term debt. The index-linked bonds will be guaranteed by the government, but the move marks an attempt by the rail infrastructure company to align its financing with other regulated utilities. The first tranche, of 30 year bonds, will be issued next week. The IndependentA fire aboard a First Great Western Swansea to London Paddington train disrupted morning commuter services yesterday. The blaze started in the hydraulic and braking fluid system - The Daily TelegraphCouncils have defended unpopular fortnightly rubbish collections by claiming they lead to higher recycling rates and save taxpayers money. A week ahead of local elections in which the scrapping of weekly bin rounds has become a major issue for voters, the Local Government Association claimed yesterday that an average of 30% of waste is recycled or composted in areas with fortnightly collections, compared with 23% elsewhere - The Daily TelegraphThe chief architect working on the Sagrada Familia Cathedral in Barcelona has condemned a plan to build a high speed rail tunnel under its foundations. The railway would link Madrid with Barcelona and continue north to France. Chief architect Jordi Bonet i Armengol warned that any ground disturbance could destabilise the world famous cathedral, designed by Antoni Gaudi 120 years ago and still under construction - The GuardianBritons pursuing their dream of a house in the sun have been warned that Spanish property is overpriced and values could plunge. Spanish property developers have seen 65% of their share prices wiped out in trading over the last week. The loss of confidence was caused by signs that overbuilding has taken place and by rising mortgage interest rates - The Guardian

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