In the papers today - Thursday 28th August 2008
The Ferris wheel will be about 200 meters (650 feet) high with air conditioned compartments that would each carry up to 30 passengers, Adel al-Ardawi, a media official with Bagdad's muncipality, said yesterday - The Guardian
The Mayor of Venice defended a controversial new bridge over the Grand Canal as Italy’s "most important contemporary architectural achievement of recent decades" yesterday despite complaints that it was unnecessary, unsuitable and four times over budget. Plans for a grand inauguration of the new steel and glass bridge — dubbed the "carpet of light" by its admirers — built by Santiago Calatrava, a Spanish architect, have been scrapped because of the row. The 94m single arching span links Venice’s railway station with Piazzale Roma, the car, bus and ferry terminal on the other side of the Grand Canal - The Times
BAA has been appointed as a security adviser to the organisers of the 2012 Olympic Games in a move that has been ridiculed by airlines, which have criticised the airports operator for long queues and poor service. The Olympic Delivery Authority (ODA) is using BAA as an adviser on issues such as selection of security equipment, the amount of equipment required and crowd-handling, The Times has learnt - The Times
Costain has become the latest construction firm to post suprisingly healthy profits, thanks to strong growth in public-sector infrastructure work. As housebuilders struggle to stem losses, civil engineer Costain has reported a 26 per cent rise in first-half pre-tax profits to £10.1m - The Daily Telegraph
British steel supplier Severfield-Rowen is planning to build India’s largest steel-making factory, after reporting a 26 per cent rise in half-year profits to £20m on the back of London 2012 Olympic work. The Yorkshire-based girder manufacturer has managed to avoid the slump in the UK construction market by concentrating on major projects such as Heathrow’s Terminal Five - The Daily Telegraph
Any future owner of Metronet Rail could face significant extra liabilities after its staff were allowed to join the London Underground final salary pension scheme. The warning comes from Terry Morgan, chief executive of Tube Lines, LU's only remaining private sector maintenance and upgrade contractor - The Financial Times
Taylor Wimpey has not yet reached a deal to restructure its debt but expects an agreement by the end of the year, the housebuilder said as it reported a collapse in interim profits. In a trading statement, the struggling group scotched rumours that it had already convinced lenders to amend key covenants relating to its £1.7bn net debt - The Financial Times
Steam power is poised to make a comeback as a way of using heat wasted by car exhausts. A British firm is developing steam hybrids in an effort to make engines more efficient - The Guardian
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