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Google Inc said it would pay its new Chief Financial Officer, Ruth Porat, more than $70 million in the next two years through a combination of restricted stock units and a biennial grant.

The company hired Morgan Stanley CFO Porat as its finance chief earlier this week, a sign it is aiming to rein in costs as it invests in new businesses such as self-driving cars and Internet-connected eyeglasses.

Porat's compensation package includes a grant of $25 million through restricted stock units, a $40 million biennial grant in 2016 and a special one-time $5 million sign-on bonus, Google said in a regulatory filing on Thursday.

Porat, who will join Google on May 26, will also get an annual base salary of $650,000. She earned a base salary of $1 million at Morgan Stanley for 2013, according to the bank's proxy filing. Her pay last year will be disclosed once the bank files its latest proxy.

Porat is the latest among a string of Wall Street executives to leave an industry that is increasingly regulated to move into the more free-wheeling technology sector, where fortunes can be built fast but businesses can also become irrelevant overnight.

Google paid its outgoing CFO Patrick Pichette, who announced his retirement earlier this month, $62.2 million for the three years through 2013, more than twice the $29.6 million Porat earned at Morgan Stanley, according to regulatory filings.

Mountain View, California-based Google said it would stop annual cash bonuses for senior vice presidents from next year and shift to a system that includes annual base salary and biennial equity grants.

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Lifting oil sanctions on Iran will likely hit global markets long before the nation starts pumping more crude.

That's because the member of the Organization of the Petroleum Exporting Countries cartel has been stockpiling oil onshore and in supertankers in the Persian Gulf, according to data compiled by Bloomberg. While estimates of the hoard by ship brokers and government officials vary from as little as 7 million barrels to as much as 35 million, Barclays Plc and Societe Generale SA predict this crude would be the first to be sold abroad if there's an agreement on Iran's nuclear program.

The U.S. and five other world powers are scheduled to resume talks with Iran this week, offering relief from sanctions on oil exports, shipping and financial transactions if the Islamic Republic curtails its nuclear program and allows inspections to verify compliance. If a deal is reached, the Gulf nation could add its stockpiles into an oversupplied oil market where prices have fallen more than 50 percent since June.

"The first wave to look out for when these sanctions are removed is that stored oil coming back into the market," Miswin Mahesh, an analyst at Barclays in London, said by email. "Their ability to sell from storage will depend on whether shipping and insurance restrictions are also lifted."

It would take three to six months after an end-of-June deadline on a final agreement for the Iranian oil to reach the market, according to U.S. government officials who asked not to be identified. The discussions this week are aimed at agreeing on a framework for the accord by the end of this month.

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A German plane carrying at least 142 passengers and six crew members to Düsseldorf from Barcelona crashed on Tuesday in southern France, the French civil aviation authority confirmed.

The wreckage of the aircraft, an Airbus A320 operated by Germanwings, a budget subsidiary of Lufthansa, was located by a French military helicopter near the town of Prads-Haute-Bléone.

“We must feel grief because this is a tragedy that happened on our soil,” Mr. Hollande said. “I want to make sure that there have been no other consequences as the accident happened in a very difficult area to access, and I do not know yet if there were houses nearby. We will know in the next few hours. In the meantime, we must show support.”

The German foreign minister, Frank-Walter Steinmeier, said he could not comment about speculation regarding the presence of German victims.

“In these difficult hours, our thoughts are with all those who must fear that they have relatives among the passengers or crew,” he said, adding that he was “in the closest contact” with the French authorities.

This horrible incident may have an enormous effect on the European markets and stocks. Make sure to watch Lufthansa shares especially.

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