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 ...
Rescuers were searching Friday for nearly 120 people unaccounted for after a passenger ferry sank off the east coast of Papua New Guinea, authorities said. The 238 known survivors arrived by five vessels at the city of Lae. Many were undergoing medical tests, according to Capt. Nurur Rahman, rescue coordinator with the country’s National Maritime Safety Authority. About 350 people were aboard the MV Rabaul Queen when it sank Thursday,... [more]
China is considering how to get “more deeply involved” in resolving Europe’s debt crisis by co-operating more closely with European rescue funds, Wen Jiabao, Chinese premier, said on Thursday. China “is investigating and evaluating concrete ways in which it can, via the IMF, get more deeply involved in solving the European debt problem through [European Stability Mechanism/European Financial Stability Facility] channels,”... [more]
Clear Channel is giving Madonna all its luvin’. The radio giant announced plans Friday to premiere the 53-year-old pop star’s new single “Give Me All Your Luvin’” and its music video across Clear Channel radio stations, electronic billboards and online venues. Clear Channel, which owns 850 stations nationwide, estimated the promotional campaign would reach more than 150 million people around the world. Beginning... [more]
Growing speculation that Australian Prime Minister Julia Gillard could be dumped by her party before the end of the year forced senior ministers to rally behind her Friday after a disastrous start to 2012. Defence Minister Stephen Smith joined a string of cabinet ministers to offer support for Gillard despite media suggestions that she could face a leadership challenge this year from Foreign Minister Kevin Rudd, who she replaced in June... [more]
The Duke of Cambridge is beginning his six-week posting in the Falklands amid heightened tensions between Britain and Argentina over the disputed islands. William arrived in the archipelago on Thursday ahead of a tour of duty as an RAF search and rescue pilot. The Ministry of Defence (MoD) said the posting was part of a “routine operational deployment”, despite Argentina likening it to that of a “conqueror”. Tensions... [more]
German Chancellor Angela Merkel met China’s president on Friday as she seeks to lift Beijing’s confidence in Europe where the sovereign debt crisis threatens to tip the region into recession. China, the world’s second-biggest economy, has watched with increasing concern as eurozone economies have deteriorated, and has repeatedly urged European leaders to get a grip on the situation. Merkel’s meeting with President... [more]
Ireland’s central bank slashed its growth forecast for 2012 by almost three-quarters on Thursday and said a longer than projected global downturn would put Dublin’s deficit reduction targets for this year and next in doubt. The monetary authority said it expected a 0.5 percent uptick in gross domestic product (GDP) this year, down from the 1.8 percent it projected in October, putting it in line with Ireland’s official creditors... [more]
A 25-year-old blonde Moldovan dancer who was on board the Costa Concordia told prosecutors that she was “in love” and “a guest” of the doomed cruise ship’s captain, Italian newspapers reported on Thursday. “Yes, it’s true. I am in love with captain (Francesco) Schettino,” Domnica Cemortan, who has joint Moldovan and Romanian citizenship, was quoted by La Stampa daily as saying to investigators... [more]
More than 8 tonnes of radioactive water leaked from a reactor at Japan’s Fukushima nuclear plant but none reached outside the reactor building, Tokyo Electric Power Cosaid on Thursday as it strives to ensure damaged reactors are stable enough for work to start on dismantling them. Experts said the incident, which follows smaller leaks last weekend, is not a big setback to getting the plant under control but the timing is awkward... [more]
German Chancellor Angela Merkel arrived in China on Thursday for a three-day visit that will focus on the eurozone crisis, Iran, and Syria. Her trip comes just days after China was hit by deadly unrest in Tibetan-inhabited areas, and the leader of Europe’s biggest economy will also broach the issue of human rights with her Chinese counterparts. Germany and China, the world’s top two exporters, enjoy vibrant trade relations and... [more]
