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In the papers today - Thursday 5 June

British Airways chief executive Willie Walsh faces his next big test today when the airline moves a further 30 daily flights to Terminal 5 at Heathrow, including its flagship service to New York JFK. . .

After the shambolic opening of the £2.2bn Terminal on March 27, when at least 20,000 bags went missing and 500 flights were cancelled, Mr Walsh postponed the move of the long-haul fleet from Terminal 4 - The Daily Telegraph

Big integrated energy companies including EDF and Eni could learn on Friday if they will be forced to reorganise their businesses under plans by Brussels to liberalise the sector. European Union countries will attempt to reach agreement on the divisive proposals – designed to increase competition in the bloc's electricity and gas markets - The Financial Times

The Australian billionaire James Packer has scrapped a $5bn (£2.5bn) plan to build the tallest casino in Las Vegas, blaming its demise on financial turbulence arising from the global credit crunch. Packer, who is the second-richest man in Australia, has been expanding aggressively in the US to build on his Crown group's existing casinos interests in Melbourne, Perth and Macau - The Guardian

The British economy is entering a period of "significant down-swing" that will see it grow even more slowly in 2009 than this year and house prices will fall further; the Organisation of Economic Cooperation and Development warned yesterday. In its half-yearly economic outlook, the OECD was particularly downbeat about Britain, predicting that the economy would only expand by 1.8% this year - The Guardian

Northumbrian Water became the latest publicly owned utility to warn of higher water prices yesterday as it invested in more capital projects and said energy costs were rising. The company, which supplies water to more than 4m households in the North East and East Anglia, said it was aiming to keep bill increases as close to inflation as possible, but admitted it would be a "challenge" - The Daily Telegraph

A catastrophic water shortage could prove an even bigger threat to mankind this century than soaring food prices and the relentless exhaustion of energy reserves, according to a panel of global experts at the Goldman Sachs "Top Five Risks" conference. Nicholas (Lord) Stern, author of the Government's Stern Review on the economics of climate change, warned that underground aquifers could run dry at the same time as melting glaciers play havoc with fresh supplies of usable water - The Daily Telegraph

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