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 ...
North Korea has ordered its citizens in Libya not to return home in an apparent bid to block news of civil uprisings in the Arab World from reaching the isolated communist state, a report said Sunday. Pyongyang, in a message sent to its embassy in Libya, told some 200 North Korean workers not to return and to follow local authorities’ advice, Yonhap news agency said, citing a source familiar with North Korean affairs. “(The North)... [more]
North Korea has intensified submarine drills near the tense Yellow Sea border with South Korea, putting Seoul defence officials on alert, a report said Thursday. JoongAng Ilbo newspaper, citing a Seoul military source, said the North had been staging exercises involving five or six submarines at the Bipagot submarine base on its west coast since last month. They feature the signature 325-tonne submarines as well as the new and bigger Shark-class... [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]
North Korean leader Kim Jong Il’s eldest son said in an interview published Friday that his father opposed continuing the family dynasty into a third generation but ended up naming his youngest son as heir to keep the country stable. The comments by Kim Jong Nam, portrayed in the media as a casino-loving playboy, were published in a Japanese newspaper just as NorthKorea proposed holding parliamentary talks with South Korea — its... [more]
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]
North Korea Sunday expressed its anger over efforts by South Korea and Japan to seek closer military ties, repeating calls for Seoul to resume talks with Pyongyang first to defuse regional tensions. The fury came after Seoul expressed doubts about the sincerity of Pyongyang’s repeated peace overtures, and instead sought closer military ties with Japan and longtime ally the US against threats from the North. Regional tensions have also... [more]
The top diplomats of South Korea and Japan showed North Korea a tough, unified face on Saturday, saying it must prove it’s serious about giving up its atomic ambitions before they will allow a new round of aid-for-nuclear disarmament talks. South Korean Foreign Minister Kim Sung-hwan told reporters after a meeting in Seoul with his Japanese counterpart, Seiji Maehara, that the North must demonstrate its “true commitment”... [more]
U.S. Defence Secretary Robert Gates on Friday held out the possibility of a resumption of six-party talks if North Korea ceases provocations and meets international obligations, but said there no was sign of it changing its ways. Gates was wrapping up a five-day visit to Northeast Asia with talks in Seoul to discuss ways to respond to Pyongyang’s “belligerence” last year which drove tensions to their highest level in years. “With... [more]
North Korea reiterated Saturday a proposal for unconditional talks with South Korea to ease tensions on the divided peninsula. The latest offer comes days after South Korea dismissed earlier calls by the North for negotiations. Tensions between the two sides escalated after a North Korean artillery barrage on a South Korean-held island near their disputed maritime border killed four South Koreans in November. The attack — the first on... [more]
South Korea has dismissed a North Korean call for unconditional talks to ease tensions, saying on Thursday the offer was “propaganda” it does not take seriously. The North’s move on Wednesday came as the United States met Chinese and South Korean officials for talks on how to calm the Korean peninsula and persuade the North to stop its nuclear work. Seoul, which wants an apology after North Korea’s deadly shelling... [more]
