Yahoo, the once-great internet giant, appears to be heading for rock-bottom following the resignation of its chief executive, Scott Thompson, after revelations he had never earned a degree he claimed on his CV.
Mr Thompson's ignominious exit is the third departure of a Yahoo chief executive in a little over three years.
But however much the company appears to be lagging behind Web rivals such as Google and Facebook, it still has a chance if its new board plays its cards right. That is, however, a very big "if".
Yahoo must forget its history as the world's greatest search engine and instead look to a future built around new technologies and services. Although it made its name in internet searching well before Google, it has now very definitely left that game and outsourced search to Microsoft.
"With the Microsoft agreement, Yahoo is pretty much out of search, and unless they bought out of the agreement and were willing to spend billions to close what is now a massive technology gap, it is unlikely they will get back in it with their own technology," says Rob Enderle, a principal analyst at the research company Enderle Group. "They are now mostly a Web media company and that is likely where they will be spending their time going forward."
But Web media is a broad term used to refer to what appears at the moment to be a grab-bag of internet business models and assets.
However, in addition to its slowly fading brand, the company also possesses considerable internet technology and has other lucrative and established businesses.
According to Richard Edwards, a principal analyst at the research firm Ovum, the company's client base spans major corporations and private users.
"Yahoo is still a big player in the webmail market. The company also provides co-branded internet services to companies like BT [BT Yahoo]," says Mr Edwards. "Many people still have Yahoo configured as their browser's home page, unable to figure out how to change it."
But although Yahoo still attracts an estimated 500 million users a month to its various websites, that number is believed to be falling.
"I predict this number will shrink in real terms as consumers replace their old PCs and laptops with smartphones and tablet computers," says Mr Edwards.
Some investors are already fearing a lack of clear leadership on Yahoo's board. The interim chief executive, Ross Levinsohn, Yahoo's former global head of media, is best known for orchestrating News Corp's US$580 million (Dh2.1 billion) takeover of MySpace, another example of a Web giant that did not manage to weather the next stage of the Web's evolution.
Fred Amoroso, the director in charge of an internal inquiry into Mr Thompson's record, will be the new chairman. Third Point, the hedge fund that raised an outcry over the incorrect CV entry, is also represented on the board.
To turn the company's fortunes around, the new board's strategy must take full account of today's technologies and customer preferences for online social networking, mobile devices and remote information storage, generally called "cloud" computing.
"What is Yahoo to do next? This is the $64bn question," says Mr Edwards. "In my view, the company must focus on the three key areas of social, mobile and cloud".
He believes Flickr, Yahoo's Web-based photo sharing site, will be the linchpin of the company's social networking strategy.
Yahoo is also developing its non-English-speaking markets in locations such as the Middle East. "Yahoo does have offerings targeting Arab and Indonesian users, so there may be an opportunity in this part of the world," says Mr Edwards.
The company is also believed to be considering a multibillion-dollar sale of its stake in China's Web services company Alibaba Group to fund future development. Yahoo could also sell or leverage some of its own technologies in order to fund further global expansion.
"In addition to its brand value, Yahoo has an intriguing patent portfolio," says Mr Edwards.
But, to compete with the likes of Google and Facebook, Yahoo must now concentrate its resources on developing new mobile and cloud services.
"The Yahoo mobile offering is also pretty solid, with support for all of the major platforms including the iPad, but the company's cloud strategy is less clear," says Mr Edwards. "Maybe Yahoo should spend some of its billion-dollar war chest in this area."
Dovetailing its existing media and social networking businesses could also enable Yahoo to create and potentially dominate a new global marketplace on the internet.
"They were between AOL and MySpace on the social networking wave and eventually someone will figure out a better way to connect media with social," said Mr Enderle.
"I would suggest that Yahoo might be able to get that done first since they have a pedigree in both areas, but I doubt if they can see this strategic opportunity, given their tactical problems."
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
THE SPECS
Engine: 6.0-litre, twin-turbocharged W12
Transmission: eight-speed automatic
Power: 626bhp
Torque: 900Nm
Price: Dh1,050,000
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Elvis
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
COMPANY%20PROFILE%20
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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ARGYLLE
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Results:
5pm: Conditions (PA) Dh80,000 1,400m | Winner: AF Tahoonah, Richard Mullen (jockey), Ernst Oertel (trainer)
5.30pm: Handicap (TB) Dh90,000 1,400m | Winner: Ajwad, Gerald Avranche, Rashed Bouresly
6pm: Maiden (PA) Dh80,000 1,600m | Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinel
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7pm: Wathba Stallions Cup (PA) Dh70,000 2,200m | Winner: Shareef KB, Fabrice Veron, Ernst Oertel
7.30pm: Handicap (PA) Dh90,000 1,500m | Winner: Bainoona, Pat Cosgrave, Eric Lemartinel
Naga
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Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
SPECS
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Joe Root's Test record
Tests: 53; Innings: 98; Not outs: 11; Runs: 4,594; Best score: 254; Average: 52.80; 100s: 11; 50s: 27
