Exxon owed $1.6bn by Venezuela for 2007 nationalisation

Venezuela must pay oil giant Exxon Mobil $1.6bn (£1bn) in compensation for expropriated assets, an international arbitration tribunal has decided. Exxon had claimed up to $16.6bn over the nationalisation of its Cerro Negro Project and other losses in 2007.

Exxon Mobil sees profits jump 28%

Exxon Mobil, the US's largest oil and gas company, has reported a sharp rise in profits as it cut capital and exploration spending.

Apple shares fall 12% on growth fears

Apple shares have tumbled 12% as investors fret over whether the company could lose its dominance in the smartphone market.

Analysts' take: Why you should buy Apple stocks

NEW YORK: Apple's first quarter in post-Steve Jobs era was a success. Apple reported that it sold more than 37 million iPhones and some 15.5 million iPads during its last quarter after the market closed Tuesday.