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WHAT THE OTHER PAPERS SAY THIS MORNING

<strong>FINANCIAL TIMES</strong><br /><br /><strong>FEDEX SWINGS TO FOURTH-QUARTER LOSS</strong><br />FedEx executives told investors they believed the worst of the economic downturn was behind them. The note of optimism came during an otherwise sobering review of the package-delivery company&rsquo;s fiscal fourth quarter, during which its net loss widened from a year earlier on goodwill writedowns, and the company warned that it would slog through harsh conditions for another six months. <br /><br /><strong>KPMG LEHMAN SELL-OFF</strong><br />KPMG, the liquidators of Lehman Brothers&rsquo; Chinese property portfolio, have moved swiftly to divest the bulk of the holdings amid concern over the outlook for commercial real estate values in Shanghai. KPMG said yesterday it had generated more than $200m for creditors of the bank.<br /><br /><strong>JETION DISMISSES FOUR OF ITS TOP STAFF</strong><br />Confidence in Aim-quoted Chinese companies is likely to be dented after Jetion Holdings, a solar-cell manufacturer, dismissed its chief executive and three senior managers for alleged &ldquo;breaches of their service contracts and fiduciary duties&rdquo;. The board believes the four are the operators of a solar-module producer and exporter that is in direct competition with Jetion. It says Roger Lijin Gai, Jition chief executive, failed to disclose that &ldquo;his&nbsp; wife was a shareholder in the competing business&rdquo;.<br /><br /><strong>KAZAKH OIL GROUP SEEKS ACQUISITIONS</strong><br />KazMunaigas Exploration and Production, the listed arm of Kazakhstan&rsquo;s national oil company has $4bn of cash available for acquisitions and hopes to agree deals before the end of the year, its new chief executive has told the Financial Times.<br /><br /><strong>THE TIMES</strong><br /><br /><strong>GREEN GROUPS SEE RED AS BP PLANS THE CLOSURE OF ITS ALTERNATIVE ENERGY OFFICE</strong><br />BP is planning to shut the London base of its alternative energy business in a move that provoked fresh anger yesterday from environmental groups. The oil group leased a 40,000 sq ft office in County Hall, Central London, less than two years ago to house BP Alternative Energy. <br /><br /><strong>STANSTED RUNWAY INQUIRY LIKELY TO BE DELAYED UNTIL AFTER ELECTION</strong><br />The public inquiry into a second runway at Stansted is to be delayed by at least nine months, increasing the chances that the project will eventually be scrapped. John Denham, the Communities Secretary, said the start of the inquiry would be delayed until after the outcome of BAA&rsquo;s appeal against a Competition Commission ruling.<br /><br /><strong>The Daily Telegraph</strong><br /><br /><strong>TAX ON ELECTRICITY TO FUND CARBON CAPTURE PLAN</strong><br />Capturing carbon emitted by coal power stations and storing it underground should be paid for through a tax on electricity prices, the Government has said.&nbsp; Ed Miliband, the energy secretary, said four new &ldquo;carbon capture and storage&rdquo; trials would eventually add 2 per cent&nbsp; to bills through a levy on electricity suppliers &ndash; the day after the Government announced a tax on fixed telephone lines to fund high-speed broadband. <br /><br /><strong>FIRM SPARED HEAVY FINE OVER FISH QUOTA SCAM TO PROTECT COMMUNITY </strong><br />A family run firm which runs what is thought to be Britain's largest fishing fleet has been spared a heavy fine for its involvement in a quota scam after a judge expressed concern about the impact on the local community.&nbsp; The case is against W Stevenson and Sons.<br /><br /><strong>WALL STREET JOURNAL</strong><br /><br /><strong>ASUSTEK TO MAKE DISNEY-BRANDED NETBOOK FOR KIDS </strong><br />Asustek Computer is launching a Disney-branded netbook aimed at children, as the Taiwanese computer maker looks to widen its offerings of the low-price machines.<br /><br />The $350 netbook will include child-friendly software featuring Walt Disney characters, while Internet browsers and email programs will have extra filters.<br /><br /><strong>SAAB'S CREDITORS AGREE TO SHARPLY WRITE DOWN DEBT&nbsp; </strong><br />Saab Automobile AB&rsquo;s creditors yesterday approved the auto maker&rsquo;s proposal for settling its debts by paying a quarter of what it originally owed. Saab proposed to settle its debts by paying 25 per cent of about 10.5bn Swedish kronor ($1.34 bn) it owed to more than 600 creditors, including auto suppliers.