Yahoo rejects new Microsoft deal
Yahoo said it has rejected a "ludicrous" deal with Microsoft orchestrated by corporate raider Carl Icahn, who is bent on overthrowing the struggling Internet search pioneer's board.
By HT Correspondent | AFP, San Francisco
UPDATED ON JUL 13, 2008 05:15 PM IST
Yahoo said Saturday it has rejected a "ludicrous" deal with Microsoft orchestrated by corporate raider Carl Icahn, who is bent on overthrowing the struggling Internet search pioneer's board.
Yahoo's said a "take it or leave it" proposal made by Icahn and Microsoft on Friday called for a massive restructuring of the California firm and the sale of its online search business to the US software colossus.
"This odd and opportunistic alliance of Microsoft and Carl Icahn has anything but the interests of Yahoo's stockholders in mind," Yahoo board chairman Roy Bostock said in a release.
"While this type of erratic and unpredictable behavior is consistent with what we have come to expect from Microsoft, we will not be bludgeoned into a transaction that is not in the best interests of our stockholders."
Bostock called any notion of accepting the offer "ludicrous," saying it was crafted without input from Yahoo and weighted mightily in Microsoft's favor.
Microsoft and Icahn gave the Yahoo board less than 24 hours to decide on the offer, which was non-negotiable, according to Bostock.
The deal called for Yahoo's board to be immediately replaced by an Icahn-led slate and the removal of top Yahoo executives, with co-founder and chief executive Jerry Yang presumably heading the list.
The US billionaire, who has amassed a stake in Yahoo and accuses the board of botching earlier takeover talks with Microsoft, has been trying to convince shareholders to back his slate at a vote during August first annual meeting.
"Microsoft and Mr. Icahn are trying to dismantle the company and deliver our search business to Microsoft on terms that would be disadvantageous to Yahoo stockholders," Bostock said.
"We are prepared to let our stockholders, not Microsoft and Carl Icahn, decide what is in their best interests and we look forward to the upcoming vote."
PM Modi unveils ₹1k-cr fund for startups
By HT Correspondent, New Delhi
PUBLISHED ON JAN 17, 2021 02:29 AM IST
“This fund will help in the launch of new start-ups and their growth,” the PM said at Prarambh, the startup India international summit jointly organised by the department for promotion of industry and internal trade (DPIIT) and the industry.
Process goes manual at several locations
By HT Correspondent, New Delhi
UPDATED ON JAN 17, 2021 01:28 AM IST
Due to difficulties in uploading data on the app, which has been developed by the central government to monitor and track the inoculation process, health care workers in some districts had to put up information about the vaccine recipients on the digital platform manually.
Manish Kumar first to take shot in Delhi
By shiv sunny, New Delhi
PUBLISHED ON JAN 17, 2021 01:20 AM IST
Manish Kumar on Saturday emerged as the face of a months-long global effort against time to develop an inoculation against the infection that has killed over two million people. He said he always believed in the efficacy and safety of the vaccine.
Concerns over Covaxin as some cite ‘lack of data’
By HT Correspondent, New Delhi
PUBLISHED ON JAN 17, 2021 01:14 AM IST
The controversy escalated during the day as reports said those receiving Bharat Biotech’s Covaxin were asked to sign consent forms before being inoculated because the jab had been allowed by the government in “clinical trial mode”.
Shielded and vaccinated: India begins mammoth immunisation drive
By HT Correspondent, New Delhi
PUBLISHED ON JAN 17, 2021 01:04 AM IST
According to data compiled from states by HT, 200,297 people were vaccinated. The number was shy of the 300,000 that was being estimated but still far higher than what was recorded by any country on its first day.
Nation receives a shot in the arm
By HT Correspondent, Chandigarh, Ranchi, Kolkata, Jaipur, New Delhi, Raipur
PUBLISHED ON JAN 17, 2021 12:31 AM IST
Union Health ministry figures showed that roughly 191,181 people received doses at 3,351 sites. This was short of the 300,000-plus target but still well above numbers recorded by any other country on the first day of inoculation
Razdan furnishes details of hiring fraud
By HT Correspondent, New Delhi
PUBLISHED ON JAN 17, 2021 12:22 AM IST
Nidhi Razdan said she was invited in 2019 to speak at an event by the Harvard Kennedy School, and one of the alleged organisers told her of a teaching vacancy. “A few weeks later I was ‘interviewed’ online for 90 minutes. It all seemed legitimate, the questions were thorough and professional,”.
BMC begins mass inoculation as healthcare workers queue up for first vaccine jab
By Rupsa Chakraborty
PUBLISHED ON JAN 17, 2021 12:13 AM IST
- All ten vaccination centres across the city sported colourful curtains and were decorated with flowers. Some centres at BYL Nair hospital and Covid-19 jumbo centre at Bandra Kurla Complex also placed selfie spots with ‘I got my Covid-19 vaccine’ message in the backdrop.
Farmer union seeks removal of 3 committee members alleging bias, appeals to SC
By Abraham Thomas
PUBLISHED ON JAN 17, 2021 12:00 AM IST
- In its response, BKU-Lokshakti through its advocate AP Singh told the Court that the Delhi Police application was unnecessary as Section 144 of Criminal Procedure Code is already in place in central Delhi which restricts gathering of five or more persons.
Rahul, Jaishankar spar at panel meet
By HT Correspondent, New Delhi
PUBLISHED ON JAN 16, 2021 11:58 PM IST
As the minister concluded an hour-long presentation, the Congress leader said it appeared to be a “laundry list” rather than a concerted strategy to deal with the Chinese threat. S Jaishankar responded by saying a simplistic approach could not be adopted in a multipolar world.
Over 3,000 personnel get Covid vaccine
By Rahul Singh
PUBLISHED ON JAN 16, 2021 11:50 PM IST
New Delhi
The armed forces on Saturday kicked off the first phase of the Covid-19 vaccine drive at multiple locations across the country including Ladakh, Delhi, Mumbai and Visakhapatnam, where thousands of “Covid warriors”, including military doctors, nurses and paramedics were vaccinated against the coronavirus on a day India rolled out the biggest vaccination campaign in the world, officials familiar with the development said
India’s Covid-19 vaccination drive begins. All you need to know
By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 16, 2021 11:37 PM IST
- The health ministry on Saturday said that close to 200,000 people were vaccinated on Day 1 of the drive.
Mumbai records lowest temperature of the year, inhales cleanest air
By HT Correspondent, Hindustan Times, Mumbai
PUBLISHED ON JAN 16, 2021 11:23 PM IST
- The Santacruz station of the Indian Meteorological Department (IMD) recorded a minimum temperature of 16.6 degrees Celsius, a degree below normal. This is the second lowest minimum temperature recorded this season following a mercury drop to 16 degrees Celsius on December 22 last year.
List of prominent people who also got vaccinated today
By hindustantimes.com | Edited by Shivani
PUBLISHED ON JAN 16, 2021 11:21 PM IST
Several high-profile people including Randeep Guleria, the director of Delhi's All India Institute of Medical Sciences (AIIMS), and Serum Institute of India (SII) chief executive officer Adar Poonawalla also got themselves vaccinated to inject confidence amid the concerns over its safety.
Covishield: A timeline of the Covid-19 vaccine manufactured by SII
By hindustantimes.com | Written by Srivatsan K C
UPDATED ON JAN 16, 2021 11:21 PM IST
Pune-based Serum Institute of India partnered with the Oxford University to manufacture their Covishield vaccine in India.