Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

In the papers - Wednesday, 9 April 2008

Channel tunnel operator Groupe Eurotunnel said it hoped to raise another £718m by June as it posted its first ever annual profit and confirmed it planned to pay a dividend in 2009...

... Jaques Gounon, chairman and chief executive, unveiled pro-forma net profits of € 1m on revenues up 6pc to € 77mm and brushed off fears that the latest refinancing initiative could be scuppered by the credit crunch - The Daily Telegraph

Fourteen years after the first train passed through the Channel Tunnel between London and Paris, Eurotunnel has made a profit. On reporting its first, modest steps into the black - the company reported €1.5m (£1.2m) profit last year - chief executive Jacques Gounon sought to draw a line under the company's troubled past, declaring the company was "nothing like the old Eurotunnel" - The Independent

Thousands of highly skilled migrants who faced being thrown out of the country are to be allowed to stay after a high court judge ruled yesterday that government immigration rule changes were unlawful and "an abuse of power". Tens of thousands of doctors, engineers and financiers have been encouraged to come with their families to work and stay in Britain under the Home Office's highly skilled migrant programme since it was introduced in 2002 - The Guardian

A review of planning laws to prevent areas of university towns becoming student ghost towns in summers was announced yesterday by the housing minister. Caroline Flint will also look at ways to further protect students from landlords - The Guardian

Tower Bridge in London is to receive a £4 million facelift over the next four years. The landmark 1894 structure will be stripped of its paintwork and repainted in traditional blue and white during the work, which is being funded by a charity, the City Bridge Trust - The Scotsman

José Luis Rodríguez Zapatero, Spain's acting prime minister, yesterday promised emergency measures to reactivate a faltering economy, triggered by the sudden collapse of construction activity after a 10-year property boom. Outlining his government's priorities for the next four years, Mr Zapatero told parliament he would speed up public infrastructure projects such as high-speed train links, promote more state-subsidised housing and extend government guarantees for some mortgage securitisations. Property developers with unsold stock would be able to place their empty homes with a state rental agency and there would be retraining schemes for tens of thousands of unemployed construction workers - The Financial Times

Olympic chiefs were accused of understating the true cost of the 2012 Games yesterday as it emerged that the bill for the aquatics centre is already three times higher than the original bid price. The Olympic Delivery Authority (ODA) announced that the contract, which was awarded to Balfour Beatty, had risen from the 2005 price of £75M to £303M – The Times

Severn Trent, Britain's second-biggest water company, is considering whether to challenge a record £35.8M fine by Ofwat. The water regulator imposed the fine on the company for lying about its performance, which allowed it to overcharge customers – The Times

The government fired a warning shot to potential bidders for British Energy yesterday by saying it will not tolerate the emergence of a single monopoly player in Britain's drive to build a new generation of nuclear reactors. Malcolm Wicks, the Energy Minister, said in Washington on a trip to meet Samuel Bodman, the US Energy Secretary: "We wouldn't be happy, we wouldn't really allow just one company to have a monopoly of nuclear in Britain – The Times

An explosion at a nuclear plant used to enrich plutonium for Pakistan's atomic weapons killed two workers. Leaking gas was blamed for the explosion. The plant was evacuated. Officials said there was no risk to people living near the plant - The Daily Telegraph

BAA, the airports operator at the centre of the chaotic opening of Heathrow's Terminal 5m has been forced to delay its planned £10bn refinancing. The owner of seven British airports - aquired in 2006 for £16.3bn, including debts, by a consortium led by Spanish group Ferrovial - said only last month it planned to complete the refinancing by the end of June - The Daily Telegraph

The sharpest fall in the UK housing market since the recession of the early 1990's sent shockwaves through the City, wiping millions of pounds off the value housebuilders and sending the pound tumbling more than two cents on expectation the Bank of England will cut interest rates tomorrow - The Daily Telegraph

Dustmen have been told that they cannot collect house-hold waste unless dustbin lids are tightly shut because of "health and safety issues". Local authorities are imposing the measures to ensure that refuse collectors are not injured by rubbish falling on top of them - The Daily Telegraph

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.