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In the papers today - Thursday 26th July

BAE Systems and VT group are to combine their surface warship building and maintenance activities, following the government's long-awaited decision to press ahead with plans to build two new aircraft carriers, costing more than £3.5bn.
The move will bring together much of the UK's naval shipyard capacity - The Daily Telegraph

The transport secretary, Ruth Kelly, served notice on the saver fare yesterday as she backed proposals to overhaul the railway fares system. The low-cost off-peak ticket would be replaced to create four new ticket categories - The Guardian

Leading Chinese refiners and power companies are pushing the government to raise retail oil product and electricity prices, officials and state media said yesterday. The push by refiners and generators to pass on price rises in crude and coal threatens further upward pressure on year-on-year consumer price inflation - The Financial Times

All cargo going into the US on ships would have to undergo thorough screening at foreign ports under new legislation agreed by key congressional committees, in a move attacked yesterday by the shipping industry as a recipe for chaos - The Financial Times

A degree in mechanical engineering might not necessarily spring to mind when you consider the ways into your ideal career. But a report by the Higher Education Careers Service Unit shows that graduates who studied the subject at university now command an average starting salary of £20,513 - a figure 15 per cent higher than the national average - The Independent

Hundreds of lives in Eastern and southern Europe have been lost in a week of stifling temperatures and forest fires. An estimated 500 deaths were attributed to the hottest weather for a century in Hungary, while temperature records were also set in Bulgaria and Greece - The Times

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