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 tail end of one of Australia’s largest-ever cyclones triggered wild storms and flash flooding at the other end of the country Saturday, while residents in the cyclone zone picked through what was left of their homes. The tropical low that was Cyclone Yasi, which tore through the northeast earlier this week, was active over central Australia and making a series of thunderstorms over the southern city of Melbourne and other large... [more]
Strong winds could cause delays or cancellations at Amsterdam’s Schiphol Airport. A spokesperson for the airport says the stormy weather is affecting Schiphol’s capacity to handle flights. Passengers are advised to consult teletext, the website of their airline and or contact the airline before leaving home. Similarly train services may also be affected by the winds. The Dutch railway company NS has split routes from the north... [more]
The buying power for most Norwegians will increase by 3-4 per cent this year, despite more expensive food, electricity, petrol and air fares, according to Statistics Norway (SSB). One reason is that salary increments granted last year, guarantee an increase in salaries also this year, even before salary negotiations begin, NRK reports. Share this: {lang: 'en-US'} function open_win(url,id) { var win =... [more]
Australia marshaled 4,000 troops and sent a supply ship with tons of food to its cyclone-stricken northeast coast Friday, as awe-struck residents in wrecked towns confronted debris that included boats tossed into neighbors’ yards. Authorities confirmed the first death from the storm that slammed into the coast early Thursday and said a search was under way for two missing people. Cyclone Yasi destroyed dozens of homes and ripped roofs... [more]
FORMER tropical cyclone Yasi has crossed into the Northern Territory, leaving Queensland to deal with its legacy of destruction. Bureau of Meteorology (BoM) senior forecaster Brett Harrison said the system, which was downgraded to a low last night, was no longer over Queensland. “It’s out of Queensland and still moving west, southwest,” he told AAP just before 2pm (AEST). “It’s still been producing pretty heavy... [more]
One of the most powerful storms ever recorded in Australia pulled houses apart and snapped power poles as it ripped across already flood-sodden Queensland state Thursday, leaving authorities relieved that no one was killed. Officials had issued days of increasingly dire warnings, and said lives were spared because people followed instructions to flee to evacuation centers or bunker themselves at home in dozens of cities and towns in Cyclone... [more]
Australia’s biggest cyclone in a century shattered entire towns after pummelling the coast and churning across the country Thursday, terrifying locals but remarkably causing no fatalities. Exhausted residents emerged to check the damage after Severe Tropical Cyclone Yasi hit land at around midnight, packing winds of up to 290 kilometres (180 miles) per hour, in a region still reeling from record floods. Officials and locals said 90... [more]
CONDITIONS are deteriorating at the main evacuation point in Cairns, where 2500 people are sheltering from Cyclone Yasi inside a powerless shopping centre. Power was cut to the Earlville shopping centre around midnight, as Yasi crossed the coast at Mission Beach south of Cairns, leaving evacuees to wait out the storm in the dark. “It’s getting a bit stifling inside because the air conditioning’s stopped,” an ABC reporter... [more]
A massive storm billed as the worst in decades barreled toward the northeast Wednesday, leaving vast swaths from Chicago to New York paralyzed by snow and ice, stranding hundreds of motorists all night and shuttering airports and schools. Chicago had 19.5 inches of snow, ranking the storm the third-largest on record to hit the city with still more possible. As much as 1 1/2 feet fell in Missouri, more than a foot dropped on northern Indiana... [more]
MISSION Beach, about 50km south of Innisfail, is the new ground zero for monster Cyclone Yasi, the Bureau of Meteorology has warned. The bureau’s 11pm (AEST) update said Yasi will hit about midnight (AEST) as an extremely destructive category 5 storm. It’s estimated to be 65km east of Innisfail and 125km south-east of Cairns and generating wind gusts up to 285km/h. The bureau also warned Yasi is now expected to cross the coast... [more]
