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General Motors chief creates new team to boost vehicle safety

General Motors chief executive Mary Barra announced Tuesday the creation of a new team to enhance safety in the wake of an ignition-recall scandal that has engulfed the company. Barra said the new product-integrity team aimed to ensure that future technical problems are addressed and resolved quickly. The automaker has…

Yahoo! lays off 2,000 employees in ‘restructuring’ effort

Struggling US Internet firm Yahoo! said Wednesday it would slash some 2,000 jobs in a sweeping restructuring aimed at building a “smaller, nimbler, more profitable” company. Yahoo! chief executive Scott Thompson, who took the top job in January promising urgent action to turn the company around after a year of…

McDonald’s names first African-American CEO

Jim Skinner, the McDonald’s chief executive who started at the firm as a management trainee in 1971 and went on to become one of its most successful leaders, has announced his retirement. Skinner, 67, has led the fast-food company for eight years. He will step down on 30 June, McDonald’s…

British cabinet member complains about ‘anti-business culture’

Chancellor of the Exchequer George Osborne has vowed to fight an “anti-business culture” in Britain, warning that a row over executive 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…

Yahoo! chairman, three directors stepping down

Yahoo! chairman Roy Bostock announced Tuesday he was stepping down from the board of the struggling Internet company along with three other directors. Bostock, in a letter to shareholders, also said Yahoo! was in “active discussions” with its partners in Asia on restructuring its holdings in the Alibaba Group and…

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