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In the papers - Tuesday, 29 April 2008

Britain faces gridlock within a generation without substantial investment on road, rail and air, a business leader said yesterday...

...David Frost, the director general of the British Chambers of Commerce, said that failure to spend on infrastructure could blight Britain's economy for years – Daily Telegraph

Hundreds of thousands of travellers are to be engulfed in another weekend of Bank Holiday chaos. Key railway lines will once more be shut for engineering work while roadworks will remain in place, slowing traffic in some parts to a crawl – Daily Telegraph

More than 70 people were killed yesterday when two Chinese high speed trains collided in the country's worst rail crash for a decade. Hundreds were injured in the crash, the second major disaster this year on the stretch of line connecting the capital Beijing to port city of Qingdao, which is due to host this summer's Olympic sailing events – Daily Telegraph

The deadline fir the next round of bids for British Energy (BE) has been brought forward, as the Government seeks a swift decision on the future of the UK's nuclear industry. Rothschild, BE's financial advisor, has told potential bidders that it would like to see detailed offers by May 9 – Daily Telegraph

Eurotunnel is today expected to unveil a fully-underwritten €915M (£720M) rights issue as ut puts in place the final element of a complex restructuring to restore the Channel Tunnel operator to financial health. Six banks are believed to be underwriting the heavily discounted cash-call in a move that demonstrates the market's appetite for infrastructure assets, despite the credit crisis – Daily Telegraph

As many as one billion people could lose their homes by 2050 because of the devastating impact of global warming, scientists and political leaders will be warned today. At a conference in London organised by the Institute for Public Policy Research they will hear that the steady rise in temperatures across the planet could trigger mass migration on unprecedented levels - The Independent

Dwindling liquefied natural gas (LNG) supplies will increase pressure on household fuel supplies. Huge demand from the Far East has left Britain struggling to bring in enough supplies, while huge investment is ploughed into expanding storage facilities for LNG in Britain - The Daily Express

Retail developments are being shelved across the country as the effects of the funding crisis for commercial property are exacerbated by fears of flagging consumer demand - Financial Times

Opec's president yesterday warned oil prices could hit $200 a barrel and there would be little the cartel could do to help. The comments made by Chakib Khelil, Algeria's energy minister, came as oil hit a historic peak close to $120 a barrel, putting further pressure on global economies - FinancialTimes

Macquarie, owner of Thames Water, has more of its shares on loan than any other Australian-listed company, in a sign that short sellers are gambling that the investment bank's share price will tumble - Financial Times

An entrepreneur has launched a plan to protect large swathes of Norfolk, Cambridgeshire and Lincolnshire from flooding with an 11-mile high tidal barrier across the mouth of the Wash which would protect the coastline and generate electricity from tidal currents. But conservationists reacted angrily to the scheme yesterday, saying that it would cause "considerable damage" to an internationally recognised conservation site - The Guardian

Ministers are to renew efforts to resolve the oil workers dispute at Grangemouth in Scotland as it emerged that fuel shortages led 28 filling stations to run dry on Sunday. Jim Radcliffe, founder of the refinery's owners, Ineos, held meetings with executives yesterday - The Guardian

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