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IBM Ex-CEO's Perks: $1m for Office, Cars

Empty Desk

Samuel Palmisano retired in December as the chairman of IBM, but that's not stopping the company from paying more than $1 million to set him up with a new office and company cars.

ST-Ericsson To Lose 1,600 jobs

Closed Sign

ST Ericsson, the mobile chip joint venture, is to close with the loss of 1,600 jobs in Sweden, Germany, India and China, having been crushed by competition from Asian chipmakers and the collapse of Finnish phonemaker Nokia's smartphone business.