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 ...
A sign that Europe’s crisis has begun to weigh on the U.S. economy emerged Friday from a report that exports to the continent sank in November — far more than overall U.S. exports did. Europe, which consumes nearly one-fifth of America’s exports, may already be in a recession. A weakening Europe could further shrink demand for American goods and slow the U.S. economy just as the job market has started to strengthen. “The... [more]
The recession ruined Linda Ruggles’ business and she has been selling plasma twice a week since to make ends meet. The blood bank couldn’t bail her out from behind bars though, which is where she ended up after she couldn’t pay a $480 fine. That fine, say cops in Mount Pleasant, South Carolina, came about because Linda Ruggles had a messy yard. Barely getting by in recent years, Ruggles, 53, has been stockpiling scraps to pawn off... [more]
The US government is concerned that Israel is preparing to take military action against Iran over US objections, and has stepped up contingency planning to safeguard US facilities in the region, The Wall Street Journal reported. The newspaper said President Barack Obama, Defense Secretary Leon Panetta and other top officials have delivered a series of private messages to Israeli leaders, warning about the dire consequences of a strike. Obama... [more]
A Japanese banker who is a key figure in the Olympus accounting fraud came into public view for the first time since the scandal broke, appearing on Friday at his divorce hearing in a Florida court. Hajime “Jim” Sagawa ran a U.S. investment firm that earned a massive $687 million fee for advising Olympus in a 2008 acquisition deal that ranks as the largest advisory payment in history. Olympus has admitted the deal along with... [more]
U.S. allies in Asia and Europe voiced support for Washington’s drive to cut Iran’s oil exports, although fear of self-inflicted pain is curbing enthusiasm for an embargo thatTehran says will not halt its nuclear program. The speaker of Iran’s parliament, Ali Larijani, said on Thursday that the nuclear program was also too strong to be derailed by assassinations of nuclear scientists, a day after the fourth such killing. As... [more]
Swedish furniture giant IKEA has recalled 169,000 baby high chairs sold in the United States and Canada over reports that the safety belts can open unexpectedly. The US Consumer Product Safety Commission and Health Canada announced the recall on Thursday and IKEA posted a warning on its website over the ANTILOP high chair, sold from August 2006 through January 2010 for around $20. The safety regulators said IKEA had received eight complaints... [more]
British Defence Minister Philip Hammond has voiced concern about possible cuts or delays in the US F-35 fighter program as London plans to equip a future aircraft carrier with the stealthy aircraft. In a visit to the US capital, Hammond said he wanted to hear from Defense Secretary Leon Panetta about the potential effect of a new US military strategy and budget plan on the future of the F-35 Joint Strike Fighter. “One of the things... [more]
A Lithuanian man blew up himself near the U.S. Embassy in the Baltic state’s capital overnight but the embassy was not thought to have been targeted, police said on Friday. “No, the initial suspicion is that this was a suicide,” a police spokesman said by telephone, when asked if the man had been trying to damage the embassy. An officer on duty at the embassy said it had not been damaged by the explosion, which took place... [more]
A month ago, Google’s three-year effort to push its Web browser, Chrome, took a major step when analysts said it had passed Mozilla’s Firefox to become the second-most popular tool of its kind on the Internet. Today, that climb continues and has some tech observers wondering whether Chrome could do the unthinkable and topple perennial leader Internet Explorer from atop the browser rankings. According to Web analytics firm StatCounter, the... [more]
Early results in the Iowa caucuses show that Mitt Romney has won the contest, with social conservative Rick Santorum coming a close second. The former Massachusetts governor edged out a win in the first caucus of the Republican race with 30,015 votes, as ex Pennsylvania senator Santorum came just eight votes behind with 30,007. As the count nears its end, results show Ron Paul finishing in third place and veteran firebrand Newt Gingrich... [more]
