3 December 2015

More rains coming as south India grapples with massive flood

People wade through a flooded road in Chennai, Tamil Nadu, India, Wednesday, Dec. 2, 2015. Weeks of torrential rains have forced the Chennai airport in southern India to close and have cut off several roads and highways, leaving tens of thousands of people stranded in their homes, government officials said Wednesday.
The heaviest rainfall in more than 100 years has devastated swathes of the southern Indian state of Tamil Nadu, forcing thousands to leave their submerged homes as schools, offices and an airport remained shut for a second day Thursday.
Chennai, the state capital, received more than 330 millimeters (13 inches) of rain over 24 hours, significantly higher than the average for the entire month of December, Home Minister Rajnath Singh said.

More rains coming as south India grapples with massive flood

People wade through a flooded road in Chennai, Tamil Nadu, India, Wednesday, Dec. 2, 2015. Weeks of torrential rains have forced the Chennai airport in southern India to close and have cut off several roads and highways, leaving tens of thousands of people stranded in their homes, government officials said Wednesday.
The heaviest rainfall in more than 100 years has devastated swathes of the southern Indian state of Tamil Nadu, with thousands forced to leave their submerged homes and schools, offices and a regional airport shut for a second day Thursday.
At least 269 people had been killed in the state since heavy rains started in the beginning of November, said India's Home Minister Rajnath Singh, although no deaths have been reported in the latest deluge.

Yahoo mulls shareholder demand to sell Internet business

This Wednesday, Oct. 17, 2012, file photo, shows a sign in front of Yahoo headquarters in Sunnyvale, Calif. In discussions that began Wednesday, Dec. 2, 2015, Yahoo’s board is mulling an activist shareholder’s demand to sell the Internet services that define the company to avoid paying more than $10 billion in taxes on its gains from a lucrative investment in China’s Alibaba Group.
Yahoo's board is considering an activist shareholder's demand to sell the Internet services the company is best known for, a maneuver that might help the company dodge a tax bill of more than $10 billion looming over its holdings in China's Alibaba Group.
The boardroom intrigue revolves around a recent proposal from Starboard Value, a New York hedge fund that been pressuring Yahoo CEO Marissa Mayer to take dramatic steps to boost the company's stock.