ROME— Fiat and Chrysler say they will build three new Jeep models in China for the local market, the biggest for Jeeps outside the U.S. The automakers announced an agreement Saturday to expand the joint venture with China's Guangzhou Automobile Group Co.. China represents the largest Jeep market outside the U.S. with nearly 60,000 vehicles sold last year.» Read More
WASHINGTON-- Former Secretary of State Henry Kissinger is sharply criticizing both U.S. presidential candidates for appealing to American suspicions of China in their campaigns. Kissinger said Wednesday the candidates have used "extremely deplorable" language, labeling China a cheat.
WILMINGTON, Del.-- A woman who gave birth to boxing promoter Butch Lewis' daughter after his death is seeking money from his estate. Louise Cummings had the baby in April, nine months after Lewis died at age 65. She wants the child declared a beneficiary of the estate and requested interim payments of $3,250 a month until the case is resolved.
KINGSTON, Jamaica-- Jamaica has agreed to waive a bauxite levy at Russian aluminum giant UC Rusal's last operational plant on the island. As part of the one-year concessionary pact, Rusal will maintain its workforce of 600 workers at its Ewarton Alumina Refinery. Jamaican Energy Minister Phillip Paulwell says this will be a $100 million investment.
Montpelier Re Holdings Ltd., a provider of reinsurance and other specialty lines, said Wednesday that it priced its offering of $300 million of senior notes due 2022.. The Bermuda- based company said the notes, which are due Oct. 15, 2022, will have an interest rate of 4.7 percent per year and will be issued at 99.682 percent of par value.
WASHINGTON-- A new book says President Barack Obama hoped to put Osama bin Laden on trial, showing the U.S. commitment to due process under law, if the al-Qaida leader had surrendered during a U.S. raid in Pakistan last year. A team of Navy SEALs raided bin Laden's compound in Abbottabad, Pakistan in May 2011 and killed bin Laden.
NEW YORK-- Best Buy on Wednesday named an Expedia executive as head of its e-commerce operations. Scott Durchslag, 46, will be senior vice president of Best Buy and president online and global e-commerce, effective Monday. He will be responsible for all of Best Buy's global e-commerce channels, including BestBuy.com and mobile commerce.
The market's gains were held in check by a slump in energy stocks and Hewlett-Packard' s 11 percent drop. "The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.
RALEIGH, N.C.-- Insurance companies want to increase North Carolina homeowner's policies by an average of nearly 18 percent next year. Insurance Commissioner Wayne Goodwin said Wednesday that consumers have until Oct. 19 to offer their views on the request by the North Carolina Rate Bureau, which represents insurance companies.
The Louis Vuitton showman thus capped an incredibly strong Paris fashion week _ with help from artist Daniel Buren _ by building a life-size shopping mall inside the Louvre. Understatement is not a word in Jacobs' vocabulary, so a collaboration with the minimalist artist _ who made the famed striped columns in Paris' Palais Royal _ might have raised eyebrows.
NEW YORK-- Shares of Biolase Inc. soared Wednesday after the maker of medical lasers said that U.S. and European Union regulators have approved its newest dental laser.
READY, SET, HIKE: The top tax rate on long-term capital gains rises from 15 percent to 20 percent on Jan. 1 unless Congress acts. High-income earners face an additional new 3.8 percent Medicare tax on investment income. DON'T PANIC: Consider accelerating a sale of a stock, property or business with substantial capital gains that you already were planning.
NEW DEAL: Bristol-Myers Squibb and France's Sanofi are revamping their longtime partnership marketing some of their best-selling medications, blood thinner Plavix and blood pressure drugs Avapro and Avalide. THE TERMS: Bristol-Myers will keep selling Plavix in the U.S. through December 2019.
The Food and Drug Administration said Wednesday it asked Teva to withdraw Budeprion XL 300 after new testing showed the drug releases its key ingredient faster than the original drug Wellbutrin XL 300, made by GlaxoSmithKline. The action contradicts the FDA's previous update on the issue in 2008, when regulators said the drugs are essentially the same.
Select changes in the top statutory tax rate on long-term capital gains in recent decades:. x- unless Congress alters a pending increase. Sources: Citizens for Tax Justice, Tax Policy Center.
Less than three months remain until the maximum rate of 15 percent on long-term gains rises to 20 percent unless Congress extends the Bush-era tax cuts. On top of that, the health care reform package imposes a new 3.8 percent Medicare tax on the investment income of high-income earners.