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 ...
Lindsay Lohan is in the spotlight again for all the wrong reasons. Police got a search warrant Tuesday to look for a $2,500 stolen necklace at the troubled actress’ home near Venice Beach, a freewheeling boardwalk known for its mix of performers, tourist shops and seaside gym. But before detectives could execute the warrant, someone — police wouldn’t say who — turned in the necklace. Now Lohan, who is still on probation for... [more]
The White House said Wednesday that Egyptian President Hosni Mubarak has a chance to show the world “exactly who he is” by bringing desperately needed change to his country now. Press Secretary Robert Gibbs also decried bloody violence happening in Cairo, where pro-government forces clashed with protesters a day after Mubarak announced he would not seek re-election in September. That wasn’t good enough for the protesters,... [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]
Haiti ex-dictator Jean-Claude “Baby Doc” Duvalier’s Swiss millions have been blocked under new legislation that came into force on Tuesday to ease their return, the Swiss government said. The Swiss Foreign Ministry confirmed the entry into force of the new law on the restitution of assets of politically exposed persons on its website. “The Duvalier finds were then blocked under article 14,” setting in motion... [more]
U.S. Secretary of State Hillary Clinton is in Haiti for a one-day visit and says the U.S. has no plans to halt aid despite the country’s presidential election crisis. Clinton says the U.S. is deeply committed to helping the impoverished nation rebuild from last year’s earthquake and cope with a cholera epidemic. She told reporters traveling with her that the U.S. would push for recommendations made by international experts about... [more]
Secretary of State Hillary Rodham Clinton is flying to Haiti to mediate in a political crisis there while other administration officials are keeping watch on violent protests halfway across the world in Egypt. Clinton will meet Sunday with President Rene Preval and the three candidates vying to succeed him during her visit. She will also see a treatment center for the cholera epidemic that has killed almost 4,000 people. Haiti’s... [more]
There’s a new slogan in town, and it’s a winner. At least that’s what President Barack Obama has in mind. The president unveiled his “Winning the Future” mantra in his State of the Union address, and now the upbeat but amorphous phrase is part of every speech, policy and pronouncement coming out of the administration. It’s also emerged as a fat target for his Republican critics. What’s next on health... [more]
US President Barack Obama has given an optimistic assessment of the country’s well-being in a State of the Union address focusing on economic recovery. The speech – which marks the halfway point of the leader’s term in office – contained an emphasis on efforts to create jobs and cut the national debt. Sections of the address also urged the two main political parties to work together in order to ensure economic recovery. “At... [more]
President Barack Obama delivers his annual State of the Union address later, and his focus will be on America’s stubbornly high unemployment rate. He is likely to face a less receptive joint session of Congress after last November’s mid-term elections, when Republicans seized control of the House of Representatives and increase their presence in the Senate. The speech is a chance for the President to set out his agenda and is... [more]
Michael Jackson’s personal doctor is to be arraigned Tuesday on involuntary manslaughter charges for allegedly killing the pop icon with an overdose of powerful sedatives. Conrad Murray, who claims he was just treating the singer for insomnia when he died in June 2009, is to stand trial after preliminary hearings earlier this month found enough evidence against him. Murray had his license to practice medicine in California suspended... [more]
