Yahoo Inc Chairman Roy Bostock and three other directors will step down as the struggling company ploughs ahead with an internal overhaul, including discussions on dealing with its stakes in China's Alibaba Group and Yahoo Japan. The corporation - once a Web powerhouse but now agonizing over a range of options to revive flagging growth - on Tuesday said it appointed former Rovi Corp CEO and International Business Machines Corp veteran Alfred Amoroso and ex-eBay COO Maynard Webb as independent directors. Yahoo's board has come under fire from investors impatient with the company's persistent inability to effect a turnaround, and frustrated with the apparent indecisiveness of stakeholders over ...
Chancellor of the Exchequer George Osborne has vowed to fight an "anti-business culture" in Britain, warning that a row overexecutive pay and bonuses threatens the country's fragile economic recovery. "Let me say something about the row over bonuses and pay," Osborne said in a speech to the Federation of Small Businesses. "Of course rewards for failure are unacceptable -- and those who believe in the free market are the first to say so. But a strong, free market economy must be built on rewards for success." The Labour Party has heaped pressure on the ruling coalition to curb excessive pay for top executives, using a House of Commons debate to demand the return ...
Japanese Prime Minister Yoshihiko Noda said on Tuesday he is resolved to settle a longstanding territorial dispute with Russia at an annual rally calling for the return of all four Russian-held islands off Hokkaido in northern Japan, the Kyodo news agency reported. "We'll continue to make steady and determined efforts to move ahead with negotiations," Noda said, stressing the need to sign a peace treaty with Russia. The four islands - which Russia calls the Southern Kurils and Japan calls the Northern Territories - has been the subject of a territorial dispute between the two nations since the end of World War ...
Amanda Knox's Italian lawyer has filed an appeal of her slander conviction in Italy, a Knox family spokesman inSeattle said Monday. In October, an Italian appeals court overturned the young Seattle woman's murder conviction in the 2007 death of her British roommate in Perugia. But the same court upheld Knox's conviction for slander — for falsely accusing bar owner Diya "Patrick" Lumumba of involvement in the slaying. Lumumba was freed after two weeks in prison for lack of evidence. Knox later said she was "manipulated" during her lengthy police interrogation. An appeal of the slander conviction was filed Monday, Knox family spokesman Dave Marriott confirmed. He doesn't know when the Italian ...
The Dutch railway will remain 'vulnerable' during wintry weather but Dutch Rail (NS) and track operator ProRail did not help matters during the current cold snap by the late introduction of schedule adjustments to cope with the conditions, transport minister Melanie Schultz van Haegen told parliament in a briefing on Tuesday. The NS and ProRail assumed on Thursday of last week that there would be three to five centimetres of snow. When the forecast was increased on Friday morning to between 10 and 15 centimetres, it was too late to change the timetables automatically, Schultz van Haegen told parliament. Drivers and conductors ...
Greece can leave the eurozone without damaging monetary union, European digital affairs commissioner Neelie Kroes says in an interview with the Volkskrant on Tuesday. Kroes, a member of the Dutch ruling right-wing Liberal party VVD, is not a supporter of Greece exchanging the euro for the drachma, but says: 'It is absolutely not a case of man overboard if someone leaves the eurozone.' The commissioner is very critical of the new Greek government and says they are not fulfilling their promises. 'Too few spending cuts, too little restructuring,' she says. She says the Greeks should follow the example of Italy where the new ...
Mitt Romney hopes his presidential campaign hasn't ignored Rick Santorum's aggressive attacks for too long, as caucuses in Colorado and Minnesota on Tuesday could reshuffle the race for the Republican presidential nomination. Santorum largely bypassed Florida and Nevada to blanket the two caucus states with criticism of Romney and lay the groundwork among conservatives who have great sway in the process. RivalNewt Gingrich praised Santorum's strategy as shrewd even as he signaled he had no interest in exiting the four-way race, which also includes Ron Paul. "I think that Santorum's going to have a pretty good day," Gingrich told reporters on the eve of the caucuses. "He targeted differently than I ...
Glencore and Xstrata agreed an all-share merger worth $90 billion (56 billion pounds) on Tuesday in the industry's largest ever deal, creating a commodities powerhouse spanning mining, agriculture and trading. Glencore, the world's largest diversified commodities tradinghouse, will issue 2.8 new shares for each Xstrata share in a deal they said was a "merger of equals." The ratio is a 15.2 percent premium to Xstrata shareholders compared with its share price last Wednesday before word leaked out about the merger talks, a joint statement said. "A merger between Glencore and Xstrata offers a unique opportunity to create a new business model in our industry to respond to ...
US White House hopeful Mitt Romney aims for another big caucus win in Colorado on Tuesday, as his well-oiled campaign machine works to cement his position as the Republican front runner in the US presidential race. Polls suggest he should triumph easily in the western US state -- where he scored 60 percent in 2008 -- although there is a tighter race in Minnesota, where last-placed Rick Santorum is hoping to snatch a win. Romney's main rival, former House speaker Newt Gingrich, is battling to stay in the race after two heavy losses in a row to the former Massachusetts governor, who ...
As President Christian Wulff remains mired in allegations of impropriety, anti-corruption group Transparency International (TI) has called for politicians to use the case as a chance to open up German politics. “We are very concerned that people seem to be starting to think that all politicians behave like Wulff, and that would be fatal,” Christian Humborg, TI Germany’s managing director told The Local. “I think the Wulff affair is a wonderful opportunity for German politicians to react to the cynical attitude that this is normal, and improve things,” he said. He said the fact that the authorities were investigating whether Wulff and his ...
A judge on Friday approved a divorce settlement between actor Mel Gibson and his estranged wife Robyn, ending their 31 years of marriage. Robyn Gibson will return to using her maiden name, Robyn Denise Moore, but other details of the divorce were kept confidential. The settlement becomes effective on January 9. Gibson, 55, and his wife married in Australia in 1980 and have seven children together. The couple separated in 2006 after Gibson... [more]
Queen Elizabeth II will use her Christmas Day message, recorded before her husband Prince Philip was rushed to hospital and underwent heart surgery, to praise the institution of family. The prince, who celebrated his 90th birthday in June, underwent a procedure to correct a blocked artery late Friday after being taken to hospital with chest pains. He was to remain for a “short period” in hospital in Cambridge, eastern England,... [more]
Russia’s opposition plans to stage new nationwide demonstrations on Saturday, expected to attract tens of thousands of people to protest alleged rigging of December 4 parliamentary elections. Incensed by claims of wholesale violations in the polls that handed a reduced majority to Vladimir Putin’s ruling party, tens of thousands of people already took to the streets across Russia on December 10. Those protests were the biggest... [more]
Chancellor George Osborne has refused to contribute to the IMF’s bailout fund for the EU, Sky News has learned. Mr Osborne told his EU colleagues he will not provide any cash to boost the 200bn euro fund, which is specifically aimed at the troubled eurozone. The conference call with 26 other EU finance ministers lasted three hours but ended without Britain’s agreement to put in up to 50bn euros. Mr Osborne insisted that while... [more]
At least 800 Roman Catholic priests and monks were involved in abusing children in their care between 1945 and 1985, according to a comprehensive report into the church sexual abuse scandal published on Friday. In addition, church officials, bishops and lay people were aware of what was going on but failed to take action to protect children, the commission, lead by former Christian Democratic party chairman Wim Deetman, said. The commission... [more]
The 20 biggest employers in the Netherlands have plans to cut their combined workforce by around 8% or 37,000 jobs in the coming months, the Volkskrant reported at the weekend. The paper bases its claims on an analysis of the top 100 Dutch employers – with a combined workforce of some 830,000. Top of the list is the ministry of defence with 48,000 workers and police with 37,000. The armed forces are slashing employment numbers in... [more]
Reservations Queen Beatrix had regarding Dutch Interior Minister Piet Hein Donner’s candidacy as the next Vice-President of the Council of State, the country’s highest administrative court, delayed his appointment and may have damaged his standing, newspaper NRC Handelsblad reports. Before approving Mr Donner’s nomination, the Queen first questioned Mr Donner about his role during the formation of the current minority coalition,... [more]
King Juan Carlos told his son-in-law in 2006 to cut ties with a company now mired in corruption allegations, an official at Spain’s royal palace said Sunday. Authorities are probing the activities of a non-profit company run by Inaki Urdangarin between 2004 and 2006. “(The king) ordered him to stand down from his activities and he sold his shares,” said the official, who works at the royal palace’s press office, confirming... [more]
Japanese Prime Minister Yoshihiko Noda set up a crisis management team on North Korean on Monday following news of the death of its leader Kim Jong-il, a spokesman for Noda said. Noda instructed relevant government ministries to collect information following an announcement by North Korea’s state television that Kim had died on Saturday, the spokesman for the prime minister’s office said. He told Reuters that Noda wanted to verify... [more]
North Korean leader Kim Jong-il died of a heart attack while on a train trip, state media reported on Monday, sparking immediate concern over who is in control of the reclusive state and its nuclear program. A tearful television announcer dressed in black said the 69-year old had died on Saturday of physical and mental over-work on his way to give “field guidance.” He had suffered a stroke in 2008, but appeared to have recovered. North... [more]
