THE world’s largest computer-chip maker, Intel, last night said third-quarter profit fell 35% amid price cuts and market share losses.

INTEL chief executive Craig Barrett received $6.74m in pay last year and Paul Otellini, who will replace Mr Barrett in May, was paid $5.44m.

Ian King, Bloomberg

INTEL has named president Paul Otellini as its next chief executive officer, choosing a salesman instead of an engineer to run the computer-chip maker for the first time.