Europe is in the midst of an innovation crisis that threatens the very way of life that Europeans have become accustomed to, according to the founder of the European Young Innovators Forum, Larry Moffett.

BATTERSEA Power Station’s next owner may have to commit £700 million (€814.8m) to the derelict London development site before any construction work can be started.

CREDITORS of the Irish- owned Battersea PowerStation asked a court to put the landmark property’s owner into administration the day after Britain’schancellor of the exchequer George Osborne backed a London Undergroundextension to boost the area’s development.

REAL Estate Opportunities (REO) – the international property development firm controlled by Treasury Holdings – has moved closer to a total restructuring of its debt linked with its purchase of the Battersea Power Station site in London.

An Irish company has purchased London’s Battersea Power Station and surrounding lands for €595m, it was confirmed today.