IBT Staff Reporter

Robert Nardelli, who was named to head Chrysler LLC on Monday by its new owner Cerberus Capital Management, declined to detail his compensation package, but said it would be tied to the automaker's progress in its turnaround. Nardelli was widely criticized for a pay and severance package seen as excessive during his term as chief executive of retailer Home Depot Inc.

Worldwide sales of semiconductors grew to $121 billion in the first half of 2007, an increase of 2 percent from the $118.4 billion during the first half of 2006, according to the Semiconductor Industry Association.

Nokia has agreed to use Microsoft’s PlayReady content access delivery technology its S60 and Series 40 mobile device platforms starting in 2008, Microsoft announced Monday.

Shares of Bear Stearns Cos. slid 7 percent late Monday morning after the investment bank's co-president quit amid growing concerns about the company's mortgage investments.

American Home Mortgage Investment Corp., a large home lender catering to people considered good credit risks, completed its rapid descent on Monday when it filed for Chapter 11 bankruptcy protection.

A blogger calling himself 'Fake Steve Jobs,' whose parody of the Apple Inc. chief executive amused and enthralled Silicon Valley, revealed himself on Sunday as an editor of Forbes business magazine.

Lenovo Group Ltd., the world's No. 3 PC maker, said on Monday it would start selling laptop computers preloaded with Linux software from Novell Inc. instead of Microsoft Corp.'s Windows operating system.

Fears of a global credit squeeze and worries about U.S. economic strength swept across financial markets on Monday, shaking up stocks, knocking the dollar to a 15-year low and straining popular currency trades.

Cerberus Capital Management on Monday named former Home Depot Inc. Chief Executive Robert Nardelli as chairman and chief executive of Chrysler LLC in an executive shake-up just after the private equity firm completed a deal to acquire the struggling No. 3 U.S. automaker.

China is to provide energy-starved North Korea with 50,000 tonnes of heavy fuel oil in mid-August as part of a nuclear disarmament deal Pyongyang reached with regional powers in February, Yonhap news agency said on Sunday.

Over-fishing has made Atlantic bluefin tuna a prized delicacy a century after the fish were scorned in Europe as pet food, according to studies on Sunday that urged better international protection.

Fears grew on Sunday that epidemics would strike the millions marooned or forced from their homes by South Asia's catastrophic floods.

The third movie in the espionage action series starring Matt Damon grossed $70.2 million its first weekend

A U.S.-French pharmaceutical company was at the heart of an investigation by British authorities on Sunday to try to find the source of an outbreak of highly infectious foot and mouth disease.

India's opposition Hindu nationalists rejected a landmark nuclear cooperation agreement between New Delhi and Washington on Saturday, saying it was an assault on the country's nuclear sovereignty.

Samsung Electronics Co. Ltd. shares opened lower on Monday after a power outage at a major plant near Seoul on Friday affected some of its chip production lines, but the stock quickly pared back losses.

More signs of weakness in the mortgage market, another surge in oil prices and a Federal Reserve rate decision could create more turbulence for Wall Street this week.

Japan's Nikkei average fell 0.87 percent on Monday as exporters such as Canon Inc. lost ground on a tumble on Wall Street and a stronger yen, while bank shares slid again on subprime lending worries and much weaker first-quarter earnings than expected.

Asian stock markets tumbled on Monday with financial shares such as Macquarie Bank hit by global credit jitters, while fresh concerns about the health of the U.S. economy knocked the dollar lower.

The union representing pilots at Northwest Airlines Corp. approved a deal that seeks to prevent late-month spikes in the airline's flight cancellations such as those seen in June and July.

Dutch bank ABN AMRO is continuing to hold talks with the Royal Bank of Scotland-led consortium which has offered 71 billion euros ($97 billion) for the Netherlands' largest bank in a bidding war with British bank Barclays, the two groups said on Sunday.

Australian health services provider Symbion Health Ltd. said on Monday it expected a 16 percent increase in full-year profit, adding that an independent expert had backed a proposed A$2.9 billion ($2.5 billion) takeover by smaller rival Healthscope Ltd.

U.S. Federal Reserve officials meeting on Tuesday will grapple with how turmoil in financial markets and tighter credit may damage the economy, and could hint at some concern growth could falter.

Nissan Motor Co. said on Monday it would launch a diesel version of its X-Trail sport utility vehicle in Japan next year, a move that could revive the all-but-dead diesel passenger car segment in the world's third-biggest auto market.

Bear Stearns Cos co-president and co-chief operating officer Warren Spector resigned on Sunday, becoming a casualty of a credit risk crisis at the investment bank. Bear Stearns said that, effective immediately, Alan Schwartz has been named the company's sole president.

China expects auto exports to grow by 48.5 percent in this year compared to 2006, according to a government forecast.

India's leading biotechnology enterprise, Biocon, has inked an agreement with Abu Dhabi-based Neopharma to establish a joint venture company NeoBiocon to develop specialty bio-pharmaceutical products and provide biotherapeutics for the United Arab Emirates (UAE) market.

Asia's two economic powerhouses, India and the People's Republic of China (PRC), are lagging behind in terms of economic well-being and living standards, despite accounting for 64 percent of GDP in a surveyed list of 23 Asian countries, a new study by the Asian Development Bank has revealed.

'A number of executives just below board level' and not covered by a plea deal announced last week are to be identified.