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 ...
ARGENTINA’S President Cristina Kirchner has been diagnosed with thyroid cancer and will undergo surgery on January 4, her spokesman says. Ms Kirchner, who was sworn in for a second four-year term earlier this month, was found to have cancer “on the right lobe of the thyroid gland” during a routine medical examination on December 22, said spokesman Alfredo Scoccimarro yesterday (today AEDT). “The illness has been contained,”... [more]
Brazil has overtaken Britain as the world’s sixth largest economy, a London-based research group said Monday. In its latest World Economic League Table, the Centre for Economics and Business Research (CEBR) said Asian countries were moving up while European countries were slipping down. CEBR chief executive Douglas McWilliams told BBC radio that Brazil’s advance was part of a wider trend. “I think it’s part of the... [more]
French Finance Minister Christine Lagarde said on Sunday she plans to visit India and China and some African countries as well as Brazil to drum up support for her bid to lead the International Monetary Fund. “I have proposed to Brazil, China, India and certain African countries” to pay them a visit, she told Europe 1 radio, adding that the would travel on Monday to Brazil because it was the first state to respond to her proposal. Brazilian... [more]
Venezuela’s foreign minister Nicolás Maduro is counterattacking Sweden in the Venezuelan press over the arrest and deportation of a Swedish citizen to Colombia. The Swedish Foreign Ministry asked Venezuela in a note why they did not inform Sweden that they had arrested the 54-year-old Swede when he landed at Caracas International Airport last Saturday. News agency TT reports that Maduro, in the Venezuelan newspaper El Universal,... [more]
The United States has botched the handling of inmates at Guantanamo, holding men for years without reliable evidence while releasing others who posed a grave threat, according to leaked secret files. The trove of more than 700 classified documents released by the anti-secrecy website WikiLeaks showed US officials struggling with often flawed evidence and confused about the guilt or innocence of detainees held at the prison at the US naval... [more]
Sweden’s Prince Carl Philip has been named at the head of list of “the top ten most beautiful royal men”, while his sister Madeleine had to settle for seventh on the female equivalent. The website BeautifulPeople.com describes itself as “an exclusively beautiful community” and promises that they wont be ”filtering through unattractive people” on their pages. The site argues that it is “fair and democratic”,... [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]
A continuing crisis at Japan’s Fukushima 1 nuclear power plant has spurred nations around the world to review the safety of their own nuclear installations. The European Union reached an agreement to conduct “stress tests” on the continent’s nuclear plants as it tries to draw lessons from the events in quake-hit Japan. Amid soaring public concern on nuclear energy, the EU gathered ministers, national safety chiefs... [more]
Brazilian striker Ronaldo, the all-time leading scorer at World Cup tournaments and three-time Fifa World Player of the Year, is to retire at the age of 34. Ronaldo said he can no longer keep up with the demands of the game ending a brilliant 18-year career in which he scored more than 400 goals including a record 15 at World Cups. “I want to stay but I can’t. I think of a move, but I can’t perform it as I want to. It’s... [more]
Police said they recovered four paintings by 19th-century born French artists that had been stolen from an Argentine collector in 1999. The paintings are “La maison de Yerres” by Claude Monet (1840-1926), “Nu dans un atelier d’ami” by Albert Marquet (1875-1947), “Gelee blanche en Ile de France” by Jean-Baptiste Guillaumin (1841-1927), and “Antibes les fortifications,” by Eugene Boudin... [more]
