$2.8mn bonus for Exxon Mobil chief
Houston: Rex Tillerson, chairman and CEO of Exxon Mobil Corp, will receive a $2.8 million bonus for 2006 and a 17 per cent salary hike to $1.75 million for 2007.

The compensation package, listed in a filing to the US Securities and Exchange Commission on Friday, comes on top of $14.2 million in restricted stock the oil executive received recently and brought his 2006 package to at least $18.5 million.

Tillerson succeeded Lee Raymond at the helm of the energy company in December 2005. Last quarter, Exxon Mobil reported the second-highest ever corporate profit of $10.5 billion — behind its own 2005 fourth-quarter record.
Back to News Review index page  

Antitrust probe instituted into graphics chips
Seattle: The US Department of Justice has issued subpoenas to Nvidia Corp. and Advanced Micro Devices Inc. as part of a probe into potential antitrust violations involving graphics chips.
Nvidia, the largest independent maker of graphics chips for computers and other devices said it plans to cooperate with the investigation.

AMD has confirmed that it had been subpoenaed.
Nvidia and AMD each control about 25 percent of the market for graphics chips that are used in personal computers, mobile handsets, video game consoles and other devices, with Intel Corp. controlling the rest.

The US justice department officials confirmed that it is looking into "the possibility of anti-competitive practices" involving graphics chips and cards, but declined to elaborate.

The subpoenas sent shares of the companies plummeting, with Nvidia shares falling $1.68, or 4.5 percent, to $35.31 in Nasdaq trade. AMD shares fell $1.13, or 5.2 percent, to $20.45 on the New York Stock Exchange. Intel shares fell 2.8 percent to $20.80 on the Nasdaq.
Back to News Review index page  

Ford falls to No.4 in US, Toyota stays at No.2
Detroit: Ford Motor Co dropped from second largest carmaker to fourth in US auto sales in November as sales of the former slid a higher-than-expected 10 per cent, while Toyota Motor Corp's sales rose 16 per cent to put it in the No. 2 place.

DaimlerChrysler AG moved to number 3 position according to data released on Friday. Larger rival General Motors Corp reported 6 per cent sales growth, while Chrysler Group posted a 3 per cent rise, breaking a nine-month losing streak.

Nissan Motor Co.'s sales fell almost 2 per cent, Hyundai Motor Co. Ltd.'s sales were down almost 15 per cent, while Honda Motor Co. Ltd.'s sales were up almost 1 per cent.

Toyota, the world's No. 2 automaker by output, outsold Ford by more than 14,000 units in November to take the No. 2 US spot based on monthly sales for the second time this year.
Back to News Review index page