内容摘要：Durham University vice-chancellor Karen O'Brien said the scheme would be a "gamechanger" and help find "innovative, profitable solutions to pressing challenges".

Durham University vice-chancellor Karen O'Brien said the scheme would be a "gamechanger" and help find "innovative, profitable solutions to pressing challenges".

It follows the adventure of Bilbo Baggins, who is invited to join a dangerous quest led by a wizard and a group of dwarves.Prof Watson's translation has been published following several edits.

He said: "I've read the book in at least nine languages so far."Whenever I learn a new language now, I always check to see if there is a translation of The Hobbit."He added: "Every single time I read it, in every single language, I get to experience the deep, rich joy of discovering Tolkien's world."

The academic said it was a privilege to "delve deeply" into story's original maps, runes and illustrations when he was triple checking translations before publication.Prof Watson said: "It's no wonder people fell in love with this book, and continue to do so nearly 90 years after it was first published.

"I'm very lucky to have had the chance to work with it and I hope that people enjoy it."

The professor is now working on a Gaelic translation of HG Wells' adventure story The Time Machine."I will only strike a deal if it's in the national interest," he said.

"That's my priority - strength abroad, security and renewal at home," he added.The PM was speaking as a trio of US stock markets opened 4.4% to 5% down amid concern about a global recession.

Earlier, the government announced it wouldand provide £2.3bn to boost electric car take-up and improve charging infrastructure as a "down payment" on Britain's industrial future.