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 High North is the Norwegian Government’s number one foreign policy priority, says Foreign Minister Jonas Gahr Støre, speaking at the Arctic Frontiers (AFT) 5th annual conference in Tromsø. - Our goal is to ensure peaceful, sustainable and prosperous development in this region – through increased activity, presence and knowledge. - This is the part of Norway’s neighbouring areas where most change is taking place, where we... [more]
Australian inflation moderated to its lowest level in a decade, data showed Tuesday, but Treasurer Wayne Swan said prices would surge as record flooding squeezes consumers at the checkout. The Consumer Price Index grew 0.4 percent in October-December compared with the previous quarter and 2.7 percent compared with a year earlier — both figures much lower than the 0.7 percent and 3.0 expected by economists. Swan said underlying inflation... [more]
QUEENSLAND’S recent floods will rank as one of the most costly natural disasters in Australia’s history, federal treasurer Wayne Swan says. In his weekly economic note, Mr Swan said the economic toll of the ongoing catastrophe would be worse than that of Cyclone Tracy or the Victorian bushfires. And while water levels in Brisbane didn’t reach the same peaks they did in 1974, as had been feared, they have affected so many... [more]
Authorities told townspeople in Australia’s southeast to flee homes with three days of supplies Wednesday as a surging river threatened another community in a flooding crisis that has devastated the country’s mining industry. Up to 1,500 homes in Kerang, in the north of Victoria state, could be affected if the Lodden River rises any further. The flooding in Victoria follows weeks of massive flooding in northeastern Queensland,... [more]
HUNDREDS more homes are expected to be flooded in Victoria’s north as the Loddon and Avoca rivers gush towards the Murray. The Wimmera River peaked at Horsham around midday (AEDT) today as predicted and towns further north are now in the firing line. Upstream at Warracknabeal at least 244 homes are predicted to be inundated or isolated tomorrow or Thursday when the Yarriambiack Creek peaks and residents of Kerang have been told to... [more]
Brazilian army helicopters have reached residents who have been cut off from help for five days because of recent flooding. One team managed to rescue five people in the morning as clearer weather allowed the aircraft to navigate more safely around the craggy terrain north of Rio de Janiero. The death toll from the flooding and subsequent mudslides stands at 665 but is still rising and 120 people are reported missing. Hundreds of people... [more]
New parents Nicole Kidman and Keith Urban have paid tribute to the “spirit” of their fellow Australians following the devastating floods in Queensland earlier this month. The state was plunged into a state of emergency as heavy rain caused massive flooding throughout the region – at least 25 people have died and thousands of residents have been forced to flee their homes. Kidman and Urban, who welcomed new daughter Faith... [more]
Floodwaters feared to have claimed the life of a young boy cut the southern Australian town of Horsham in two Tuesday as Canberra urged big business to dig deep for the disaster’s victims. Prime Minister Julia Gillard turned to corporate Australia for help in what is expected to be the nation’s costliest ever natural disaster — a deluge that has lashed five of its seven states, killing more than 30 people. “The support... [more]
UN Secretary General Ban Ki-Moon called on Monday for a clean energy revolution that would make energy available for everyone, at a summit in Abu Dhabi. “Our challenge is transformation. We need a global clean energy revolution — a revolution that makes energy available and affordable for all,” he told participants in the fourth edition of the World Future Energy Summit. “This is essential for minimising climate risks,... [more]
With milder weather, more than 70 major roads in the counties of Sogn og Fjordane, Hordaland and Rogaland in Western Norway have been closed by avalanches, rock slides and flooding this weekend. Several towns, hamlets and farms are completely isolated, and the situation is worst in Hordaland and Sogn og Fjordane, but Odda and Sauda in Rogaland are also isolated by slides and floodwaters. The highway authorities call the situation chaotic... [more]
