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 ...
European leaders bid Monday to move away from the debt crisis and focus on much-needed growth as a new battle erupted over putting the eurozone’s Achilles heel, Greece, under EU supervision. European Union heads of state and government hold their first summit of the year from 1400 GMT to finalise a new German-driven pact to toughen budget discipline. They do so amid a general strike in Belgium over deepening austerity in their own... [more]
Chancellor Angela Merkel sought Monday to placate critics of a German proposal to put Greece under the supervision of an EU budget tsar, saying Europe must help Athens enact economic reforms. The debate must be on “how Europe can help Greece accomplish the tasks given to it,” Merkel said on arrival at an EU summit after Greek officials and some European leaders rejected the proposal. “But all of this will only work if Greece... [more]
Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a $3.9 billion deal that reflects a long-term decline in Japan’s demand for fuel and a global strategy to refocus on exploration. TonenGeneral Sekiyu will buy 99 percent of the shares of Exxon Mobil Yugen Kaisha, which refines and sells fuel and lubricants, the Japanese refiner said about the deal, announced Sunday. Exxon... [more]
The FTSE-100 index fell on Monday, with the absence of a bond deal in Greece and fresh concerns about the debt problems of other euro zone nations keeping investors in cautious mood and hitting risky sectors such as banks and miners. London’s top share index <.FTSE> was down 0.8 percent at 5,685.09 points at 0900 GMT, adding to Friday’s losses and retreating further from a six-month closing peak of 5,795.20 set on Thursday. Banks... [more]
Some 60% of men and 44% of women in the Netherlands are overweight, according to research from the public health institute RIVM, published in Monday’s AD. And one in seven of those that are too fat is so heavy that they risk developing serious health problems, the institute says. The research involved 4,000 people aged between 30 and 70. Compared with previous research carried out 15 years ago, women aged 30 to 39 have put on most weight. More... [more]
Russia’s opposition should hold a dialogue with the Prime Minister Vladimir Putin as the nation needs more political cooperation, rather than the existing vertical power structure, jailed former Yukos head Mikhail Khodorkovsky said in an article in The New Times magazine, published on Monday. “The country needs a new political philosophy of cooperation instead of the vertical power structure,” Khodorkovsky told The New Times. Widespread... [more]
Prime Minister Vladimir Putin, who is running for the Russian presidency, on Monday called for the country’s economic diversification away from oil and gas to high-tech products to ensure future prosperity. Five weeks before the presidential election, he is expanding on crucial points of his campaign programs in weekly articles in the Russian press. Putin, who was Russia’s president from 2000 to 2008, could occupy the top... [more]
Belgium was in chaos Monday, just hours before an EU summit, with transport and other public services halted by a national strike called by unions in protest at EU-ordered austerity measures. It is the first such general strike in Belgium since 2005 and the first since 1993 launched jointly by the country’s three main unions, which are angry over public spending cuts of more than 12 billion euros ($15 billion) for 2012. Belgian... [more]
The Royal Bank of Scotland has announced that its chief executive Stephen Hester has decided to waive his £1m bonus. It comes just hours after the Labour Party said it would force a House of Commons vote calling for Mr Hester to be stripped of his shares-only payment . Mr Hester had been facing mounting pressure to follow the bank’s chairman, Sir Philip Hampton , and forego the award. Sky News City editor Mark Kleinman said: “My... [more]
Up to five companies are keen to buy Saab, one of the bankrupt Swedish carmaker’s three administrators said Sunday. “I can’t comment on who we are in discussions with, but we are conducting dialogues with four to five interested parties who we consider are seriously interested,” Hans Bergqvist told the TT news agency. He said the aim was to sell all of Saab, which filed for bankruptcy on December 19, to a single... [more]
