BP TAKES ROLE IN CLEAN COAL PROJECT - The Guardian reports that Hydrogen Energy, a new joint venture between BP and Rio Tinto, has announced its first concrete plans: to build a $1.5bn (£750m) coal-fired power plant to provide heat and light for half a million homes and see 4m tonnes of carbon stored below the sea.
Locally produced coal from the Collie region of Western Australia will be used to produce hydrogen and C02 with the former used to fuel a 500 megawatt power station while 90% of the latter would be captured and stored beneath the sea bed of the nearby Perth basin.
The plant at Kwinana, 45 kilometres (28miles) from Perth, could produce 15% of Western Australia's energy needs but is still subject to the government's coming up with the proper financial incentives as well as he successful outcome of detailed engineering and commercial studies.
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CNG CHIEF IN BID FOR SOFTWARE COMPANY - The Irish Examiner reports that CNG, the Kerry-based provider of software to the travel industry, said last night that chief executive PJ King has made an offer to buy the company.
In a statement issued after the stock market closed, CNG said Mr King and other members of its management team were willing to pay 14.5p (21.2c) a share for the company.
CNG shares, which are listed on London's Alternative Investment Market (AIM), closed at 8p yesterday, valuing the business at £4.7m (€6.8m).
CNG also said that non-executive directors Seamus Ross Jnr and Michael Smurift Jnr were backing the management buy-out team of Mr King and Barry Liben, the head of CNG's US business Tzell.
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FRESH TO INVEST €100M IN NEW STORES - The Irish Independent reports that Fresh, the chain of convenience stores specialising in gourmet and fresh produce, is to invest about €100m in the expansion of its business from three to 20 supermarkets over the next three years, it announced yesterday.
Chaired by property developer Noel Smyth, Fresh yesterday officially launched its two newest convenience supermarkets in Dublin - South Docks Plaza and Northern Cross, Malahide Road.
The first Fresh convenience supermarket was opened in January 2006 at Smithfield. The group has now invested over €30m in three supermarkets which has created 150 new jobs.
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IRISH LIFE TO PROBE PENSIONS CASE - The Irish Times says Irish Life has agreed to investigate the cases of former public servants who believe they have lost out on retirement benefits because they were not fully informed of their rights.
The company, part of Irish Life & Permanent, said that it agreed to review three specific cases following a meeting with former accountant George O'Sullivan, who has been leading a campaign on behalf of retired public servants who say their benefits suffered.
Mr O'Sullivan, a former national chairman of the Chartered Institute of Management Accountants and a lecturer in the subject in Cork Institute of Technology, has been seeking to raise the issue with the State, trade unions and pension providers.
In a statement, Irish Life said it agreed to meet Mr O'Sullivan yesterday on the basis that he was a shareholder and customer. It pointed out that he has an issue with the broad life insurance industry.
Mr O'Sullivan has said that in many cases, State bodies failed to tell former public servants of their right to buy into the public service pension.
