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 ...
The arrest of International Monetary Fund chief Dominique Strauss-Kahn adds more uncertainty to Europe’s debt crisis by removing a widely respected expert from talks on how to save the 17-nation eurozone. Strauss-Kahn, who was France’s finance minister when the euro was created in 1999, is an authority on Europe’s economic issues and comfortable with the region’s complex web of power politics. His experience is broadly... [more]
Dominique Strauss-Kahn’s reputation with women earned him the nickname “the great seducer,” and not even an affair with a subordinate could knock the International Monetary Fund leader off a political path pointed in the direction of the French presidency. All that changed with charges that he sexually assaulted a maid in his hotel room, a case that generated shock and revulsion, especially in his home country. Police said... [more]
A majority of the Dutch (58 percent) want the government to stop giving financial aid to Greece and a slim majority (51 percent) want Greece expelled from the eurozone. Some 72 percent of those surveyed in a poll conducted by Maurice de Hond expect Greece will never be able to repay its debts. The view is particularly strong among voters of the Freedom Party (90 percent), which backs the government in parliament, and the opposition Socialist... [more]
The Netherlands may decide to block payment of the next instalment of the loans that were earlier pledged to the Greek government. Finance Minister Jan Kees de Jager made his remarks after Friday’s cabinet meeting. “The ball is now in the Greek court, they must simply implement the IMF programme. If they don’t, then that’s the end. I don’t care whether there is political opposition in Greece or not, there is no more time for obstruction.” The... [more]
The Dutch government says it plans to hold to the custom of addressing the king’s wife as “queen” This means that when Crown Prince Willem-Alexander succeeds his mother as monarch, Princess Máxima will automatically become his queen. Dutch Foreign Minister Uri Rosenthal made the announcement in response to three Dutch opposition parties who wanted to break with this tradition. Labour, GreenLeft and the Party for the Animals argued... [more]
South Korean and US marines are planning their first joint exercise on a frontline island, officials said Thursday, in an apparent show of force to North Korea following deadly border incidents. “The two allies are discussing details of such a joint marine exercise,” a defence ministry spokesman told AFP. Yonhap news agency said the drill was likely to take place in July on Baengnyeong island in the Yellow Sea, before annual... [more]
Iran has received another shipment of nuclear fuel from Russia for use at its Bushehr nuclear power plant, the Arabic-language al Alam channel quoted an official as saying Wednesday. “The shipments were transferred to Iran from Russia by plane in three phases on May 4, 8 and 10,” spokesman for Iran’s Atomic Energy Organization Hamid Khadem Ghaemi told al Alam state channel. He said 30 metric tons of fuel had been received. Russia... [more]
Riot police made heavy use of tear gas and stun grenades to disperse youths throwing stones and petrol bombs at a large march through central Athens Wednesday to protest the Greek government’s harsh austerity measures. The clashes came during a 24-hour general strike that brought most public services to a halt, idled all trains and island ferries, grounded flights for four hours and disrupted public transport. The unions, like many... [more]
The Netherlands needs a privacy watchdog with sharper teeth to make sure government, companies and individuals are more careful with people’s personal details, Jacob Kohnstamm, head of the privacy watchdog CBP, said on Wednesday. ‘There are almost limitless options to store and process information, Kohnstamm said at the publication of the CBP’s annual report. And, the increase in digitalisation and globalisation make it increasingly... [more]
Germany is ready to back Italy’s central bank chief Mario Draghi to take over as European Central Bank president, Chancellor Angela Merkel said on Wednesday. “Germany could support his candidacy for the position of ECB president,” she told Die Zeit weekly in an interview. Germany’s Finance Minister Wolfgang Schäuble has previously also suggested he would like to see Draghi as the next head of the ECB when Frenchman... [more]
