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 European Central Bank raised its main interest rate on Thursday for the first time since July 2008 just as Portugal became the latest victim of the eurozone’s deficit and debt crisis. The increase in the ECB’s benchmark refinancing or “refi” rate to 1.25 percent also marked the first change in either direction since it was cut to a record low of 1.0 percent in May 2009. With higher inflation and core eurozone... [more]
Despite promising economic growth figures of 1.5% this year, the Netherlands still has a long way to go to close the gap caused by the economic crisis, prime minister Mark Rutte has warned. Speaking at a symposium in The Hague, the prime minister said the figures from the government’s macro-economic forecasting agency CPB sounded good but still have to be realised. In addition, the government wants the economy to grow more strongly... [more]
Illegal aliens in the Netherlands are sometimes offered money to leave the country. According to a report published in newspaper de Volkskrant, the money allows illegal aliens – many of them failed asylum seekers – to build a new existence in their country of origin. Offering money is often cheaper – as well as more effective – than providing several months’ worth of shelter or locking people up in detention centres.... [more]
Crown Prince Willem-Alexander and Princess Máxima will attend the wedding of Prince Albert II of Monaco on 2 July. The crown prince and his wife will be the only Dutch royals to attend the wedding in Monte Carlo. Willem-Alexander and Albert met through their work for the International Olympic Committee. Albert (53) is to marry Charlene Wittstock (33), a former top swimmer from South Africa. The civil wedding will take place on the evening... [more]
The cabinet’s new human rights policy will seek to avoid “wagging a patronizing finger”. In a letter to parliament, Foreign Minister Uri Rosenthal writes that the cabinet has opted for an approach based on dialogue and cooperation. The minister, a member of the conservative VVD, says the Dutch human rights policy will focus on freedom of expression, including internet freedom, the freedom of religion and life principles,... [more]
Parliament is outraged by news that the town of Almere has appointed an interim manager to oversee the region’s police force for a daily fee of 1,600 euros. The manager, Leo Zaal of the Twynstra Gudde consultancy, has been appointed by Almere Mayor Annemarie Jorritsma of the conservative VVD party to lead the Flevoland police force in the absence of a superintendant. The manager is to earn 192,000 a year for 2.5 days a week. The Christian... [more]
British Prime Minister David Cameron Thursday warned the European Union that it could be “left behind” by emerging economies unless it reformed its business policies. “It is clear that there is a growing urgency and need for action to secure long term sustainable growth in Europe,” the British leader said in a pamphlet released Thursday. “We need to take collective action to unleash the forces of enterprise... [more]
US Treasury Secretary Timothy Geithner on Thursday called for more flexible exchange rate policies at a Group of 20 meeting in China, saying it was crucial to global monetary system reform. Geithner did not explicitly single out China in his remarks at a G20 seminar on international monetary reform attended by ministers and central bankers, but hinted that Beijing needed to loosen its grip on the yuan. He said that to better manage sweeping... [more]
Lessons can be drawn from the failed Libyan evacuation mission, said Prime Minister Mark Rutte. He and ministers Uri Rosenthal (Foreign Affairs) and Hans Hillen (Defence) take responsibility for failures in the execution of the operation and “actions will be taken,” he said. The government Tuesday debated mistakes made in the February mission that resulted in the arrest and 12 day detainment of three Dutch soldiers by supporters of Libyan... [more]
Crown Prince Willem-Alexander and Princess Máxima started an official four-day visit to Vietnam on Monday. They will spend the first two days in the capital, Hanoi, and the last two days in Ho Chi Minh City, formerly known as Saigon. The purpose of the official visit is to strengthen trade and diplomatic relations between the Netherlands and Vietnam. The southeast Asian country is an emerging market which offers ample opportunities for... [more]
