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 ...
The euro held steady against the dollar on Friday and was on track for its biggest weekly gain in three months, having rallied on short-covering following its recent drop to a 17-month low. Market players said position unwinding might give the euro a further lift in the near-term, with one possible upside target at $1.3077, the single currency’s high so far in January. Greece’s negotiations with creditors on a debt swap remain... [more]
Texas Gov. Rick Perry plans to announce an end to his presidential campaign Thursday, Yahoo News has confirmed. The announcement was first reported by CNN. Perry will make the announcement at a press conference in Charleston, South Carolina at 11 a.m. and will endorse former House Speaker Newt Gingrich, Politico reports. Perry, who was at the top of the polls when he first announced his candidacy last summer, placed a disappointing fifth... [more]
Rupert Murdoch’s British newspaper companyhas agreed to pay actor Jude Law 130,000 pounds (about $200,000) to settle claims against the News of the World and The Sun tabloids. News Group Newspapers accepted that 16 articles about Law published in the now-defunct News of the World tabloid between 2003 and 2006 had been obtained by phone hacking, and that the actor had also been placed under “repeated and sustained physical... [more]
Changing the negative perception of business among Russians remains a priority task, Russian Prime Minister Vladimir Putin said on Wednesday. “Our difficulties stem, firstly, from the socialist state of mind and, secondly, from the 1990s, when it all, regretfully, worsened and was discredited, to a significant extent, because of unfair privatization,” the Russian premier said. He decried that fact those close to the authorities... [more]
Former Miss USA Rima Fakih on Wednesday made an initial appearance in a Detroit-area courtroom in a drunken driving case that lawyers said could be resolved with a plea deal. Judge Brigette Officer set a March 14 trial date, but lawyers on both sides said they planned to talk in an attempt to end the case sooner. Fakih, 26, declined to answer reporters’ questions after the hearing, which was held in the Detroit enclave of Highland... [more]
Rotterdam Police Commissioner Jan Hoogstraten has been sentenced to a fine of 950 euros and a three-month suspension of his driver’s licence for drink driving. The commissioner’s wife fell and was injured when the couple were taking a walk on New Year’s Eve. He went to fetch his car because he felt it was taking too long for help to arrive. When he returned to the scene of the accident, police officers thought they smelled alcohol... [more]
Anne Sinclair, the wife of former IMF chief Dominique Strauss-Kahn, has been speaking about the ordeal the couple faced when he was arrested on sexual assault charges as well as her new journalistic venture. In an interview with Elle magazine, which will appear on Thursday, Sinclair confirmed that she will be the editorial director of the Huffington Post when it launches its French version later in January. Sinclair is well-known in France... [more]
The Swedish foreign ministry announced on Wednesday that a new probe into the fate of Swedish diplomat Raoul Wallenberg, who vanished after being taken into custody by Soviet Union soldiers 67 years ago. “We have never received confirmation of what happened to Wallenberg, and feel that now after a lot of time has passed there may be a possibility to dig up new information,” Swedish Foreign Minister Carl Bildt’s spokeswoman... [more]
The Greek government will meet Wednesday with the head of a group of private bank creditors to resume talks on cutting nearly a third of the country’s massive debt, a finance ministry source said. The talks with Charles Dallara, head of the Institute of International Finance, are aimed at writing off about 100 billion euros ($128 billion) in Greek sovereign debt held by private sector financial institutions. Last Friday, the talks... [more]
Bankrupt Swedish car company Saab is auctioning off the rare, collectable and classic cars on display in the Saab museum, as no buyer for the entire collection has been found. While the list of cars, with their pictures and details, is available to bidders online, only a select few will be permitted to take a closer look at the actual vehicles. Peter Bäckström, the museum’s head, said that he will only allow the doors to be opened... [more]
