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 ...
Britain’s Prince Philip left the hospital Tuesday, after undergoing treatment for a blocked coronary artery. Philip, Queen Elizabeth II’s 90-year-old husband, spent four nights in the hospital recovering from a successful coronary stent procedure. He was taken to Papworth, a specialist heart hospital in Cambridge, on Friday after complaining of chest pains. It was the most serious health scare suffered by Philip, who is known... [more]
Prime Minister Vladimir Putin is ready for dialogue with the Russian protest movement to ensure that presidential polls are fair, according to his old ally and ex-finance minister Alexei Kudrin. Kudrin told the Vedomosti daily that he met Putin — who has announced plans to swap jobs with President Dmitry Medvedev after the March 4 polls — on the eve of Saturday’s mass rally in Moscow. “From my conversation with Putin,... [more]
Close to 60,000 homes across Sweden remained without power on Tuesday morning and rail passengers were still stranded in the north in the wake of storm “Dagmar”, which tore through the country over the Christmas holiday weekend. Around 60,000 customers from utility providers Fortum, Eon, Vattenfall, and Härjeån had to make due without electricity overnight into Tuesday. Eon doesn’t expect to have power restored to customers in... [more]
ONE of Indonesia’s most active volcanoes erupted today, spewing clouds of ash and panicking villagers but no evacuation has been ordered so far, a government vulcanologist said. The first eruption of Mount Lokon was at 3.07am local time (06.07 AEDT, 19.07 Monday GMT), followed by two more bursts within minutes, Farid Bina said from a monitoring post near the volcano on Sulawesi island. “The eruption was heard as far as five kilometres... [more]
NEW Hampshire Right to Life is suing the Obama administration for access to records about a decision to fund Planned Parenthood in violation of state rules, a move that comes amid efforts by some state officials to get rid of virtually all federal funding to The Granite State. The organization filed suit Thursday after complaining that the Department of Health and Human Services (HHS) was ignoring its Freedom of Information Act request for... [more]
Tokyo Electric Power Co <9501.T> asked a government-backed bailout body on Tuesday for an additional 690 billion yen (5.6 billion pounds) to help compensate victims of the nuclear crisis at its Fukushima Daiichi power plant. To help Japan’s biggest utility, known as Tepco, meet costs running into trillions of yen for compensation and cleanup, the government had already agreed in November to provide 890 billion yen through a bailout... [more]
Spain’s economy shrank in the last quarter and faces a bleak outlook for the coming months, its new economy minister said on Monday, heightening fears of a fresh recession. Luis de Guindos dampened already gloomy expectations for the economy as the new conservative government got to work on its programme of tough spending cuts. “This quarter the Spanish economy will surely see a downturn and we will return to negative growth,”... [more]
THE Kremlin’s rights panel has called for the resignation of Russia’s election chief and snap parliamentary elections in a damning statement on “discredited” polls that sparked mass demonstrations. The recommendations by the panel – which advises President Dmitry Medvedev on rights and social issues – are not binding but will add to pressure on the authorities for radical changes after the December 4 polls. It... [more]
Tens of thousands of flag-waving and chanting protesters called on Saturday for a disputed parliamentary election to be rerun, increasing pressure on Vladimir Putin as he seeks a new term as Russian president. The protesters chanted “Russia without Putin” and “New elections, New elections” as speakers called for an end to Putin’s 12-year domination of the country at the second big opposition rally in two weeks... [more]
George Michael has received the best Christmas present: making it home to London in time for the festivities after being successfully treated for life-threatening pneumonia in Austria. The 48-year-old was taken to the AKH hospital in Vienna a month ago and was forced to cancel the rest of his Symphonica tour dates while he underwent treatment in intensive care. The singer held a press conference outside his house in Highgate yesterday and... [more]
