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Thursday newspaper round-up: Portugal, Dwell, Zynga

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04/07/2013
Portugal in turmoil after two key minsters quit; furniture retailer Dwell to reopen; Zynga gives new CEO millions to leave Microsoft.

Portugal’s President Anibal Cavaco Silva called an emergency meeting with party leaders after two key ministers resigned, The Telegraph reported. Paulo Portas, who leads the smaller People’s Party in the coalition government, quit on Tuesday over the appointment of new pro-austerity Finance Minister, Maria Luis Albuquerque, who replaced Vitor Gaspar.

Bankrupt furniture chain Dwell has been rescued by its founder, Aamir Ahmad but customers left out of pocket by its collapse are yet to discover their fate, The Times said.

Zynga has given new Chief Executive Officer Don Mattrick a pay package worth nearly $50m to lure him away from his former job as head of Microsoft’s Xbox business, according a regulatory filing obtained by the Financial Times.

Egypt’s army has ousted the country’s elected president, Mohamed Morsi, and scheduled fresh elections. Now the nation faces the most critical phase of its post-revolutionary life, The Guardian reported.

Dell directors overseeing the PC makers’ planned $24.4bn buyout have asked founder Michael Dell for more money in light of shareholder complaints that the company is selling out for too little, the Financial Times revealed.

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