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WHAT THE OTHER PAPERS SAY THIS MORNING

WHAT THE OTHER PAPERS SAY THIS MORNING

FINANCIAL TIMES

ALWALEED’S CITI SHARES TO BOLSTER KINGDOM
Prince Alwaleed bin Talal al-Saud, the Saudi investor, revealed on Tuesday that he plans to shore up the balance sheet of his investment vehicle by “donating” SR2.24bn (€416m) of shares in Citigroup into it. Prince Alwaleed said the initiative would help lead Kingdom Holding to profitability and enable it to distribute dividends to shareholders.

ESPN TO KICK OFF FIRST 3D TV CHANNEL WITH FOOTBALL WORLD CUP
ESPN, the sports network owned by Walt Disney, will launch the first 3D television channel this summer in the US, in a further sign that a technology which has revolutionised Hollywood is heading for homes. ESPN’s move came as Sony, Imax and Discovery Communications unveiled plans to launch a 3D channel.

PRU IN EAST ASIA LINK WITH UOB
Prudential has struck a deal with Singapore’s United Overseas Bank which the UK life assurer hopes will boost its presence in the south-east Asian city state and in Indonesia and Thailand. The move, expected to be announced today, according to people familiar with it, will also see the Pru acquire UOB’s Singaporean life assurance business with the UK group paying about S$430m (£193m).

UK AIRPORT OWNERS?FEAR?SECURITY CLAMPDOWN?BEING?RUSHED?THROUGH
Lord Adonis, the transport secretary, is to meet the owners of Britain’s main airports today amid growing industry anger that controversial new security measures are being rushed through and may amount to little more than window dressing. BAA, Heathrow’s owner, and other airport operators who will bear the costs of the measures held a teleconference yesterday morning to discuss their position.

THE TIMES

RIVALS LEFT HANGING AS APPLE HITS THREE BILLION APP STORE DOWNLOADS
Owners of Apple’s iPhone and iPod touch devices have downloaded more than three billion applications from the company’s App Store in less than 18 months, trouncing the last benchmark figure by a billion.
The company’s latest record comes little more than three months after it racked up two billion downloads, suggesting that enthusiasm for applications has grown substantially in recent weeks.

JAPANESE FINANCE CHIEF READY TO STAND DOWN
Bowed with fatigue and the pressures of rescuing the country’s debt-laden economy from another slide into recession, Hirohisa Fujii, the Japanese Finance Minister, is expected to step down today.


The Daily Telegraph

HEIRESS CASEY JOHNSON FOUND DEAD IN LOS ANGELES
Casey Johnson, 30, whose father owns the New York Jets American football team, had a history of alcohol and drug abuse.
Detectives, who discovered her body at her West Hollywood home on Monday morning, said there was no evidence of foul play but are awaiting the results of toxicology tests.

10,000 ADMIT TO OFFSHORE TAX DODGE
Just over 10,000 people with untaxed income hidden in offshore accounts have taken advantage of the Government's latest amnesty. HMRC said 1,100 people came forward on Monday to qualify for reduce penalties as the deadline neared. But a source said the 10,000 figure included those using a separate amnesty for accounts held in Liechtenstein.

WALL STREET JOURNAL

BIOGEN IDEC LAUNCHES SEARCH FOR NEW CEO
Drug maker Biogen Idec Inc. said on Monday it has launched a search for a successor to its chief executive and president, who plans to retire this summer. James Mullen, 51 years old, will retire effective June 8 as the Cambridge, Mass., biotech company faces continued pressure from activist shareholders and concerns about the growth trajectory of controversial multiple sclerosis treatment Tysabri, sold with Elan Corp.

CAL-MAINE FOODS PROFIT FALLS 41PC
Cal-Maine Foods Inc. fiscal second-quarter earnings fell 41 per cent as revenue, margins and average selling price dropped. As more people cook at home, the owner of the Eggland's Best and Farmhouse egg brands continues to post anemic sales to restaurants.