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 ...
A Russian government commission inquiring into why the Phobos-Grunt Mars probe crashed this week is to test whether it was affected after launch by U.S. radars on its second orbit around the Earth, the commission said on Tuesday. The investigators said that they would stage an experiment where a model Phobos will be subjected to radiation similar to that from U.S. radars. “The results of the experiment will allow us to prove or dismiss... [more]
The time is not right for Sweden to recognize the Palestinian state or make any promises to upgrade the country’s status in the UN, said foreign minister Carl Bildt on Monday after the Centre Party recently made a u-turn on the issue. “Of course we would like to, but the main aim right now is to stimulate the two parties to a dialogue. That’s what we are supporting,” Bildt said at a press conference with his Finnish colleague Erkki... [more]
The eldest brother of North Korea’s new leader says reforms needed to avert the collapse of the country’s economy will lead to the end of its Stalinist regime, according to a book to be published this week. Kim Jong-Nam, the half brother of Kim Jong-Un who took control of the hermit state on the death of their father last month, says the military has become so powerful it will step in and take over. The comments come in a book... [more]
Russia’s outgoing President Dmitry Medvedevon Monday proposed a law to restore the direct elections of governors, part of a raft of reforms promised after massive nationwide protests — though the bill still preserves a strongKremlin role in the vote. Medvedev’s powerful predecessor and mentor, Prime Minister Vladimir Putin, oversaw a rollback in post-Soviet freedoms during his tenure as president, including scrapping gubernatorial... [more]
The U.S. new security law allowing the military to detain American terrorist suspects without trial may entail grave consequences and contradicts international law, the Russian Foreign Ministry said on Sunday. Last December, U.S. President Barack Obama signed into law the national defense authorization act, which contains provisions regulating the detention, interrogation, and prosecution of suspected terrorists. The new security law allows... [more]
A Japan Airlines flight bound for Sydney was forced to turn back after takeoff when a business class passenger seat caught fire, according to reports. The small fire was apparently caused by a cigarette lighter — although the airline said it has not yet identified who it belonged to, according to the Kyodo News and Jiji Press news agencies. The Boeing 777, carrying 260 passengers and crew members, took off from Narita airport... [more]
Newspaper polls show Japanese Prime Minister Yoshihiko Noda’s Cabinet reshufflehas failed to lift public support. Polls published Sunday showed support for Noda and his new Cabinet was flat to slightly down from before Friday’s reshuffle. The approval rating in the Nikkei business daily poll was 37 percent, up one-tenth a percentage pointfrom December, with disapproval unchanged. The Yomiuri and the Asahi said approvals dipped... [more]
Google, Yahoo, Facebook and other websites are facing prosecution in Indian courts for refusing to censor themselves and remove contents considered insulting to Indian leaders and major religious figures. Government officials are upset about web pages that are insulting to Prime Minister Manmohan Singh, ruling Congress party leader Sonia Gandhi and major religious figures. Some illustrations have shown Mr Singh and Ms Gandhi in compromising... [more]
Japan’s prime minister, attempting to build support for painful fiscal reforms, said Saturday that the country should be alarmed by ratings cuts in Europe and must tackle its massive public debts to avoid becoming the next target. Japan’s debt is more than twice its gross domestic product, higher than any of the struggling European economies whose fiscal problems have set off a eurozone crisis that has reverberated in markets... [more]
She is tough, sexy and cool. Victoria’s Secret angel, blonde Russian beauty Marina Linchuk, has taken part in the new ad campaign for one of the oldest and most revered Italian luxury brands. The New York-based supermodel got the coveted job when she was at a party celebrating the opening of the “Coat! Max Mara, 60 years of Italian fashion” exhibition in Moscow. Linchuk managed to charm the captains of the legendary brand to the point... [more]
