What the other papers say this morning


L’Oréal chief hits out at income tax
France will find it “almost impossible” to hire top talent if the government goes ahead with plans to impose a 75 per cent marginal income tax rate, the head of L’Oréal, one of the country’s biggest companies by market value, has said.
Jean-Paul Agon, chairman and chief executive of the world’s largest cosmetics company, told the Financial Times: “If there is such a new tax rule, it’s going to be very, very difficult to attract talent to work in France, almost impossible – at a certain level, of course.”

Wind power leader EU passes 100GW
The EU has cemented its title as the world champion of wind power by passing the milestone of 100 gigawatts of generating capacity installed. The turbines can now pump out as much electricity as 39 nuclear power plants

EU revenues up €600bn with cloud
Cloud computing could boost economic growth across Europe to the tune of €600bn (£478bn) and create millions of new jobs, a European Commission strategy document will say on Thursday.


Rivals fight to take shirts off JJB rack
Rescue talks over JJB Sports stalled last night amid a tug-of-war between adidas and Sports Direct over stock. Adidas, which was helping to prop up JJB, wants close to face value for its goods.

Bid process on line for Essex service
The train franchise bidding process is about to undergo another stern test as bids go in today to run the popular commuter service between Southend and Fenchurch Street in the heart of the City.

The Daily Telegraph

Kingfisher boss in talks with airlines
Vijay Mallya has sought to dampen speculation that he is desperate for cash to prop up his ailing Kingfisher Airlines, claiming he is in discussion with several foreign carriers over a potential stake sale.

Riverford enjoys organic growth
Riverford, the home delivery company, has defied the organic food market’s decline to more than double its profits. The business said pre-tax profits rose from £508,000 to £1.23m in the year to April.


Romney tempers tax plans
Republican presidential candidate Mitt Romney, seeking to emphasize his deficit-cutting ambitions, is warning Americans that his tax-cut plan might not decrease their tax bills as much as they expect.

Starbucks aims to invade Nordics
After decades of virtually ignoring the highest coffee consumption market in the world, Starbucks’ Europe chief is looking to give a substantial jolt to the giant's tiny presence in the pricey Nordic region.