Austrian authorities arrested four people last week over suspicions the country’s money printer paid bribes to get new business and that executives received kickbacks, according to lawyers for two of the accused.
Yahoo! Inc. said Chief Executive Officer Scott Thompson stepped down after failing to correct errors in his credentials and the company is revamping its board, handing a victory to activist investor Daniel Loeb, who pushed for the overhaul and said the Web portal is mismanaged.
Yahoo! Inc. investor Third Point LLC escalated pressure for management change at the Web portal, urging directors to immediately replace Chief Executive Officer Scott Thompson over his misrepresented academic credentials.