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 ...
At least 356 people have died and dozens are missing after floods and landslides swept through mountain towns in southeastern Brazil. Many homes were washed away as torrents of water and mud rushed down hillsides. The Serrana mountain region, north of Rio, has seen a month’s rain in a month. Worst hit is the town of Teresopolis, 40 miles north of Rio, where reports say at least 152 people have died in 24 hours. Images from the town,... [more]
Authorities in Brisbane have warned the city it is facing its worst flooding in more than 100 years, as up to 20,000 homes face being destroyed. The sun emerged after a week of monsoon rain over Queensland’s capital – but locals were told it was a false dawn. “Don’t take any comfort from the fact that we have blue sky,” said the state’s premier, Anna Bligh, on Wednesday. Unprecedented rainfall over much... [more]
Thousands of people were urged to leave the outskirts of Australia’s third-largest city, Brisbane, on Tuesday as flood waters raced eastwards after a surging two-meter wall of water killed eight people overnight. Cars and pedestrians were swept away on Monday night when a “super rainstorm” sent water charging through the streets of Toowoomba, west of Brisbane. Police said more than 40 people were pulled from rooftops by... [more]
The Conservative Party (Høyre) has appealed to the other political parties to join forces in an effort to speed up the work to improve safety on the Norwegian roads with highest accident rate. The move comes in the wake of the tragic accident in Troms on Friday, in which five people died in a collision between a bus and two cars. The proposal from Høyre includes a speeding up of the national plan to construct a centre barrier along 750km... [more]
Residents of low-lying parts of Australia’s third largest city, Brisbane, sandbagged their homes against rising waters on Monday as torrential rain exacerbated record floods that have paralyzed the coal industry in the northeast and now threaten tourism. Prime Minister Julia Gillard insisted the cost of the floods would not delay a return to budget surplus in 2012-13, but J.P. Morgan predicted the disaster would crimp growth this year... [more]
Water on the Moon came in large part from comets which bombarded the lunar surface in its infancy, a study published on Sunday suggests. For decades, the Moon was thought to have been as dry as it was void of life and atmosphere. This assumption, though, has been revisited after findings by NASA last year of significant traces of frozen water in a permanently shadowed crater. Astrophysicists led by James Greenwood of Wesleyan University... [more]
SOME parts of Queensland are on standby for flash flooding as more torrential rain disrupts recovery attempts in areas where raging rivers have begun to subside. The focus of attention has shifted southwards from central to southeast Queensland which is being battered by heavy local falls. Authorities have warned that the ground is so waterlogged that sudden downpours can quickly cause flash flooding. Emergency Management Queensland (EMIT)... [more]
The water level in the Meuse river in the southern Dutch province of Limburg will remain high for the coming week, but experts say it’s unlikely that the river will burst its banks. On Saturday afternoon, the Meuse reached its peak height as 2,271 cubic metres of water flowed per second through the river as a result of continuing thaw in the nearby hilly Ardennes region in Belgium. A spokesman from the regional water board – also... [more]
A swollen river submerged bridges and inundated homes and stores Sunday in Australia’s already sodden Queensland state as more heavy rain added to the country’s worst flooding in decades. Maryborough became the latest of some 40 towns to be partly awash as a river running through it burst its banks and entered parts of the town of 22,000, which has been heavily protected by sandbags and levies. Downstream, residents of Gympie... [more]
The heavy snowfall over Southern Norway continued Saturday, and made for difficult driving conditions in many places. Poor visibility hampered traffic on mountain roads between east and west. A number of minor accidents were reported in the region, but without serious injuries. More snow is forescast for Sunday afternoon, and the police appeal to drivers to slow down. Skiing conditions, however are near perfect, both on the slopes and on... [more]
