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 ...
EU ministers will decide Tuesday on Egypt’s request to freeze the assets of ousted president Hosni Mubarak’s henchmen, and consider French proposals for a web of investment across the Arab world. After Cairo asked the European Union’s three biggest powers — Britain, France and Germany– to block bank accounts, finance ministers from all 27 EU member states will tackle the issue from 0900 GMT. Monday evening’s... [more]
Egypt’s military says it will not act as a substitute for a “legitimate” government after President Hosni Mubarak resigned and transferred his power to the armed forces. A military spokesman, in a brief televised statement, said the armed forces would later announce measures and arrangements to introduce the changes Egyptians want. He also praised Mubarak for his contribution to the nation. Fireworks burst over Tahrir... [more]
Hosni Mubarak has stepped down as president of Egypt, prompting scenes of elation in in central Cairo. Roars of joy erupted from tens of thousands of protesters gathered in Cairo as the announcement was made by the leader’s deputy, Omar Suleiman, in a televised address. Mr Mubarak has handed over control to army chiefs, vice-president Suleiman said in a brief speech. The embattled leader’s 30-year reign ended following more than... [more]
Egyptian Prime Minister Ahmed Shafiq told the BBC that President Hosni Mubarak may step down and the situation in the country will be clarified soon, the broadcaster said on Thursday. Egypt’s army is expected to make a statement on Thursday in which it will respond to the demands of protests, satellite television said. It said the higher council of the armed forces had held a meeting, but gave no further details. Pro-democracy protesters... [more]
Human rights activists in Egypt have claimed President Hosni Mubarak’s regime is conducting a hidden crackdown on the protest movement. The Egyptian government claims it has made significant concessions following an uprising in Cairo and other cities and is engaged in political dialogue with its opponents. But in the offices of human rights group Hisham Mubarak there is a very different picture after a visit from a mob of thugs and... [more]
Former Vice President Dick Cheney on Saturday called Egyptian President Hosni Mubarak a good friend and U.S. ally, and he urged the Obama administration to move cautiously as turmoil continued to shake that nation’s government. Cheney’s comments came a day after President Barack Obama pressed Mubarak to consider his legacy and exit office in a way that would give his country the best chance for peace and democracy. Cheney said... [more]
Shops, banks and many roads are set to reopen in Cairo today but activists have warned that protests could get increasingly violent. Train services will also be resumed as the army appeals for thousands of demonstrators to leave the city’s central Tahir square. Sunday is the start of the week for Egyptians and the authorities are hoping that some sense of normality can resume this morning. But leading opposition activist Mohamed ElBaradei... [more]
US President Barack Obama has insisted that Egypt’s future “will be determined by its people”. The president spoke out after reports that US officials had discussed president Hosni Mubarak’s immediate resignation in favor of vice president Omar Suleiman. Mr Obama said he hoped Mr Mubarak will make “the right decision” to steer his country through mass protests against his rule but stopped short of urging... [more]
The gas pipeline linking Egypt and Israel has been blown up by “terrorists”, according to Egyptian state television. A huge fire shot skyward and raged uncontrollably although no injuries were immediately reported. The governor of the region, Abdel Wahab Mabrouk, said he suspected “sabotage”, but provided no details. The blast came as a two-week-old popular uprising has engulfed Egypt, where anti-government protesters... [more]
Protesters demanding President Hosni Mubarak’s ouster packed Cairo’s central square by the tens of thousands Friday, waving Egyptian flags, singing the national anthem and cheering, appearing undaunted and determined after their camp withstood two days of street battles with regime supporters trying to dislodge them. Thousands including families with children flowed over bridges across the Nile into Tahrir Square, a sign that... [more]
