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 European Financial Stability Facility staged Tuesday a landmark five-year bond auction worth five billion euros ($6.8 billion) to raise funds for Ireland and help calm financial markets. Asian bidders snapped up more than one third of the total in what EFSF head Klaus Regling said demonstrated market confidence in the 17-nation eurozone, after the turmoil of massive bailouts for Greece and Ireland last year. “This must be seen... [more]
An unexpected downturn in the British economy shocked investors on Tuesday, prompting a sharp drop in the pound and reigniting debate about the government’s plans to slash spending and raise taxes to reduce public debt. The figures showing a 0.5 percent GDP drop in the last three months of 2010 fueled speculation that the British economy was heading back into recession — defined as two quarters of negative growth — and reined... [more]
President Barack Obama delivers his annual State of the Union address later, and his focus will be on America’s stubbornly high unemployment rate. He is likely to face a less receptive joint session of Congress after last November’s mid-term elections, when Republicans seized control of the House of Representatives and increase their presence in the Senate. The speech is a chance for the President to set out his agenda and is... [more]
President Dmitry Medvedev placed the blame on Tuesday on a lapse in security for allowing a suspected suicide bomber to kill at least 35 people and wound scores at Russia’s busiest airport. The Moscow airport blast that killed 35 people may have involved a female suicide bomber, the state-run RIA Novosti news agency quoted a security source as saying Tuesday. There was no immediate claim of responsibility for Monday’s attack... [more]
The suspect in the shooting of Rep. Gabrielle Giffords smiled and nodded but didn’t speak as he appeared in court Monday and his lawyer provided the 22-year-old’s first response to the charges: a plea of not guilty. In the two weeks since the deadly attack that killed six outside a Tucson grocery store, Jared Loughner’s hair — shaved in the mug shot that’s become an enduring image of the tragedy — has grown... [more]
Russia is on high alert after a suicide bomber killed at least 35 people in an attack at Moscow’s largest airport. The Kremlin has labelled the blast in the packed arrivals hall of Domodedovo airport – which also wounded more than 130 – as an act of terror. News agencies have reported that up to two Britons were among those killed. It is the latest deadly attack in the capital, coming after the March metro bombings. Russian... [more]
Egypt’s antiquities chief said Monday that Cairo has demanded that Germany return the 3,400 year-old bust of fabled Queen Nefertiti, 98 years after it was uncovered on the banks of the Nile. Egypt’s Supreme Council of Antiquities head, Zahi Hawass, announced an “official request” backed by Prime Minister Ahmed Nazif and Culture Minister Faruq Hosni for the relic to be handed back. The demand was sent in a letter... [more]
Italy’s Catholic Church jumped into the fray surrounding Prime Minister Silvio Berlusconi’s sex scandals on Monday, warning him that politicians who behave immorally hurt the country’s image and pollute its future. Cardinal Angelo Bagnasco said the political quagmire was sowing the seeds of an “anthropological disaster” where the young see easy money, moral compromise and selling oneself as the road to success... [more]
Following are comments by French President Nicolas Sarkozy at a news conference to lay out his plans for France’s G20 presidency: RISK OF FOOD RIOTS “If we don’t do anything (about rising food prices) we run the risk of food riots in the poorest countries and a very unfavourable effect on global economic growth.” “The day there are food riots, what country at the G20 table will say this does not concern them?... [more]
The UN and EU stand accused of “cowardice” for claiming to tackle human rights abuses in places like China through soft diplomacy, Human Rights Watch said in its annual report Monday. Highlighting its claim, the report on global human rights violations was issued in Brussels the same day the European Union hosted controversial Uzbek President Islam Karimov amid protests. The New York-based NGO’s executive director Kenneth... [more]
