From the BBC:
Police avert car bomb 'carnage'
A car bomb planted in central London would have caused "carnage" if it had exploded, police sources have said.
A controlled explosion was carried out on the car, packed with 60 litres of petrol, gas cylinders and nails, in Haymarket, near Piccadilly Circus.
An ambulance crew saw smoke coming from the green metallic Mercedes, near the Tiger Tiger nightclub at 0130 BST.
"International elements" are believed to be involved, Whitehall sources told the BBC.
Earlier Deputy Assistant Commissioner Peter Clarke, head of Scotland Yard's counter-terrorism command, said: "It is obvious that if the device had detonated there could have been serious injury or loss of life."
The ambulance had been called to the nightclub to treat a sick man when they spotted smoke, now believed to be vapour, inside the car.
Bomb experts manually disabled the "potentially viable explosive device".
DAC Clarke said it was too early to say who was responsible but the incident "resonated" with previous terrorist plots.
He was asked at a press conference if this attempt had any links to a plot foiled by police three years ago which involved plans to create car bombs using gas canisters. But he refused to draw any firm links.
"The threat from terrorism is real. It is here, enduring. Life must go on but we must all stay alert," he said.
Mr Clarke also specifically mentioned nightclubs as a potential target.
Following the discovery, police patrols in central London were stepped up "to provide a visible reassurance", rather than in response to a specific threat.
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