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What the papers say

News stand

THE SCOTSMAN

The magnetic North Pole, which moves 9km-40km a year, is migrating from Canada towards Siberia, according to a Canadian scientist. Movement of the magnetic North Pole is caused by fluctuations of the earth's molten metal core and has become more rapid in the last 25 years. The magnetic pole is some 960km distant from the axial north pole.

Archaeologists have discovered a 'Bronze Age Venice' in southern Italy, with houses on stilts built along canals. The town dates from between 1500BC and 600BC.

By 2025, 2.7bn people will face a critical shortage of potable water, the United Nations warned this week. An estimated 1.1bn people already have no access to safe drinking water.

FINANCIAL TIMES

A consortium led by the Royal Bank of Scotland has been beaten in the race for Wessex Water by YTL Corporation, Malaysia's largest construction group. YTL, which becomes the first Malaysian firm with major UK interests, put up £1.24bn for Wessex, formerly owned by failed US energy group Enron.

THE TIMES

Potential investors in the £300M national stadium at Wembley have not seen a business plan despite a looming deadline. If backer Barclays Bank cannot raise the necessary finance within six weeks, the Football Association might offer the stadium to Birmingham.

Germany's second largest construction firm Philipp Holzmann has filed for bankruptcy after the government and creditors Commerzbank and Dresdner Bank refused to bail it out.

Holzmann hit the skids two years ago but was rescued by Chancellor Gerhard Schroder. The collapse will result in the loss of more than 23,000 jobs.

A 'safer streets' campaign aimed at removing obstacles that injure blind people has kicked off. Bollards, overhanging vegetation and café chairs are on the hit list.

A project to create the world's biggest windfarm on the Hebridean Isle of Lewis is under threat because the site is home to protected birds such as the red throated diver, golden plover, dunlin, greenshank and golden eagle. Conservationists say the £600M scheme will disrupt feeding and nesting patterns.

THE SUNDAY TELEGRAPH

Post 11 September paranoia is driving the development of a hovering rescue platform, capable of vertical take-off and which could be used to pluck stranded terrorist attack victims from the windows of tall buildings.

Inventor David Metreveli said the scheme, which was a commercial non-starter six months ago, is attracting significant investment.

THE SUNDAY TIMES

Demolition and security at the Millennium Dome are costing close to £1M a month.

DAILY TELEGRAPH

The US government is to set aside £700M of federal funds to settle lawsuits from workers involved in the World Trade Center (WTC) clean up operation.

Insurers have largely refused to cover New York City or contractors working on and around the WTC site.

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