LONDON-Southwark council has unveiled a pounds one billion ($1.6 billion) masterplan to regenerate the Elephant & Castle district of South-East London after two earlier regeneration plans failed.

LONDON-Rotherham council in South Yorkshire has won a landmark ruling in the EU that will allow it go ahead with a pounds 65 million ($108 million) regeneration project.

LONDON-Canary Wharf confirmed today that it has received bid approaches. The Canadian Brascan Corporation has been building a stake in the company lately, but a bid from the management team is also a possibility.

LONDON-The UK government has selected Liverpool as its nomination for European Capital of Culture in 2008, an announcement expected to bring about pounds 2 billion ($3.2 billion) of regeneration.

LONDON-The London Development Agency has shortlisted consortia to redevelop the land earmarked for an Olympic stadium.

LONDON-Supermarket chain Sainsbury's has formed a joint venture with petrol distributor Shell to open 100 Sainsbury's Local convenience stores across the UK.

LONDON-Two of the UK's biggest property players have teamed up with US-based Simon Property to form a global facilities management joint venture that initially will serve 300 retail malls and parks worldwide.

LONDON-The government is expected to drop plans for gaming reform in the next parliament because of an overcrowded legislative programme. Casino operators and property developers had been preparing big new schemes in advance of the legislation.