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Wednesday, January 1, 2014

Business Today: Fiat reaches deal with UAW trust to buy rest of Chrysler

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01/1/2014
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Fiat reaches deal with UAW trust to buy rest of Chrysler
MILAN/DETROIT (Reuters) - Italian carmaker Fiat SpA said on Wednesday it has signed an agreement to buy the stake in U.S. automaker Chrysler Group LLC it does not already own, ending months of tense negotiations and allowing Chief Executive Sergio Marchionne to pursue his goal of creating the world's seventh-largest auto group.
Analysis: Scarred U.S. consumers a hard sell for traditional retail
NEW YORK (Reuters) - If there was one lesson from this year's holiday shopping season, it is that many traditional retailers are having to work a lot harder to persuade Americans to open their pocketbooks.
Chinese iron trade fuels port clash with Mexican drug cartel
LAZARO CARDENAS, Mexico (Reuters) - When the leaders of Mexico and China met last summer, there was much talk of the need to deepen trade between their nations. Down on Mexico's Pacific coast, a drug gang was already making it a reality.
India scraps AgustaWestland helicopter deal, agrees to arbitration
NEW DELHI (Reuters) - India cancelled its $770 million helicopter deal with Italian defense group Finmeccanica's AgustaWestland unit on Wednesday over what it termed a breach of integrity, but agreed to take part in an arbitration process.
Campbell recalls 300 cases of Prego sauce
NEW YORK (Reuters) - Campbell Soup Co late Tuesday said it was voluntarily recalling about 300 cases of its 24-ounce-sized Prego Traditional Italian sauce, citing a risk of spoilage.
Wall St. ends best year since 1990s with moderate gains
NEW YORK (Reuters) - Stocks closed out their best year in more than 15 on Tuesday, with major indexes advancing throughout 2013 on the back of the Federal Reserve's massive stimulus and expectations for accelerating growth going forward.
Apple says never worked with NSA on iPhone hacks
SAN FRANCISCO (Reuters) - Apple Inc has never worked with the U.S. National Security Agency and is unaware of efforts to target its smartphones, the company said in response to reports that the spy agency had developed a system to hack into and monitor iPhones.
Cohen's SAC ends life as hedge fund with double-digit returns
BOSTON (Reuters) - Billionaire investor Steven A. Cohen's SAC Capital Advisors is ending its life as a hedge fund with a 20.10 percent gain this year, marking one of the industry's best returns even after SAC pleaded guilty to insider trading charges, a source familiar with the numbers said.
U.S. consumer mood brightens, but home price gains slow
NEW YORK (Reuters) - U.S. consumers' mood improved as 2013 drew to a close, with many optimistic about their future job prospects, while home prices rose again in October, though the pace of gains slowed.
China house prices show signs of stabilizing: surveys
BEIJING (Reuters) - Chinese property prices rose again in December, according to two private surveys, but are showing signs of stabilizing following government measures aimed at cooling the housing market and averting the threat of a bubble.
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