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 senior South Korean official says North Korea could bring its own collapse if it keeps pouring scarce national resources into its nuclear program and military. Presidential security adviser Chun Yung-woo says in an interview with U.S. public broadcaster PBS that North Korean leaders’ “obsession” with weapons of mass destruction like nuclear weapons would be “a short-cut to their demise.” PBS has posted part... [more]
Australian floods wreaked fresh havoc on rural communities in the south on Sunday, leaving a trail of destruction across four states, at least 17 dead and the prospect of reconstruction of historic proportions. As tens of thousands of people in flood-stricken towns and cities in the north worked to clean out their homes and offices, heavy rains and floods meted out fresh disaster in southern Victoria state, the nation’s second most... [more]
AFTER spending a fortnight under siege from swollen rivers, several of Queensland’s largest regional centres are finally on the road to recovery. Residents at Rockhampton, Bundaberg, Gympie and Maryborough have returned to homes damaged by the floods and have begun the long and trying clean-up process. Floodwaters are still receding at Rockhampton, almost two weeks after the Fitzroy River peaked at 9.2 metres, and many affected residents... [more]
Norwegian shipowners Stolt-Nilsen have introduce armed guards onboard its ships threatened by pirates off the coast of Somalia. Maniging director Niels G. Stolt-Nielsen says they do not have a choice, if the international naval patrol or a convoy is not in the area. According to the Norwegian financial newspaper Dagens Næringsliv, the Norwegian shipping lines Frontline and Fred. Olsen are also considering the use of armed guards onboard... [more]
Australia’s flood crisis shifted to the country’s far south on Sunday, with 13,000 homes swamped by a record deluge as the toll mounted in the reeling northeast amid scenes of devastation. Dozens of towns braced for unprecedented river levels in Victoria state, where 13,000 homes were under water and 3,000 people had fled the rising waters, days after the flooding emergency peaked in northeastern Queensland. Homes were swamped... [more]
German farmers reckon the dioxin food poisoning scandal is going to cost them around €100 million from reduce consumption and lower prices on eggs and pork. “The damage from the disruption in the market will be many times the direct damage,” said Gerd Sonnleitner, president of the German Farmers’ Association (DVB) on Saturday. He said the price producers get for pork had dropped from between €1.40 to €1.50 a kilo down to €1.12... [more]
The United Nations said Saturday it will appeal for emergency flood aid for Sri Lanka, where 32 people have died, hundreds of thousands are homeless and vast rice fields ready to be harvested are now under water. Flooding in the rice fields has disrupted livelihoods of many in the eastern region hardest hit after the heavy rains. The U.N. will issue an appeal in the coming days for money to help replant the fields and compensate people affected,... [more]
PROSECUTORS want to bring the long-troubled son of Hollywood star Michael Douglas back to court to testify about his alleged drug suppliers, the New York Post reports. In court papers filed Friday, prosecutors said they plan to have Cameron Douglas testify about buying “distribution quantities of meth” and “multiple kilograms of cocaine” from brothers David and Eduardo Escalera. Douglas – currently serving five... [more]
ROME will hold a special public mass to pray for flood victims across Australia, our ambassador to the Holy See says. The Caravita Oratory in Rome was also the place where priests held a similar mass in 2009 for the Black Saturday fire victims of Victoria. Brisbane-born Canon David Richardson, the director of the Anglican Centre, will join several Caravita community Catholic priests to concelebrate and pray for the flood victims. “There... [more]
Survivors of mudslides that killed more than 500 people are growing frustrated, saying Brazil’s government has fallen short in rescuing victims still stranded on remote hillsides and finding the bodies of the dead. On the fourth night since torrential rains sent avalanches of mud and boulders smashing through communities in the lush mountains outside Rio de Janeiro, many people were still begging officials for aid late Friday. Many... [more]
