What the other papers say this morning - 4 July 2013


Gulf Keystone appoints Simon Murray
Oil company Gulf Keystone has named Simon Murray, the former French Foreign legionnaire who chaired Glencore in the run-up to its merger with Xstrata, as its new chairman. The appointment is an attempt by Todd Kozel, outgoing executive chairman, to draw the sting from a threatened shareholder rebellion over corporate governance and remuneration policy at the Aim-quoted company. Mr Murray, 73, is one of Britain’s most colourful businessmen and became the oldest man to have walked unsupported to the South Pole in 2004

Alitalia not to break even until 2015
Alitalia, the Italian carrier, will not break even until 2015 – four years later than originally forecast – the company announced yesterday. The three-year industrial plan, unanimously approved on Wednesday by shareholders will require €150m per year in funding.

Dell directors ask founder to up offer
The Dell directors overseeing the PC makers’ planned $24.4bn buyout have gone back to founder Michael Dell to ask for more money amid a wave of shareholder complaints that the company is selling out for too little.


Britons spending water like money
Every 2.7 seconds, Britons flush away enough water to keep a person hydrated for 80 years, according to a survey of 86,000 households by The Energy Saving Trust released today. It found the average person uses 142 litres of water a day, with 25 per cent going on showering.

Avon takes huge loss on Silpada sale
Avon has sold Silpada Designs back to its original owners for $85m, just three years after it bought the jewellery brand for $650m.

The Daily Telegraph

Dublin airport could rival Heathrow
Air passengers in the north of England and Scotland are increasingly flying to America via Dublin to avoid Heathrow, according to Irish carrier Aer Lingus. It made the claim as it announced plans to expand its long-haul transatlantic business.

Private equity bids for Card Factory
A collection of private equity giants are battling it out to acquire UK greeting card retailer Card Factory, despite a price tag of £500m. First round bids were due yesterday.


Swiss propose new banks deal
Switzerland’s cabinet has agreed to a new plan for resolving disputes between the country's banks and US authorities cracking down on offshore tax evasion, raising hopes the long-running dispute could be drawing to a close.

Aramark explores an IPO
US stadium food vendor Aramark is preparing an initial public offering that would return one of the country’s largest closely held companies to public ownership. It has annual sales of around $13.5bn (£8.8bn).