Rewind: Chrysler Gets A New Name; Manufacturers Are Leaving China

Check out some of this week's top headlines from across, from an 83-year-old nun awaiting a sentence for sabotage to Obama's State of the Union speech. Also, Toyota may recall cars because the seats might not meet flammability standards, and Snowden says the NSA also spied on industry.

Check out some of this week's top headlines from across, from an 83-year-old nun awaiting a sentence for sabotage to Obama's State of the Union speech.


Chrysler, Fiat Move Forward As Single Company With New Name

DETROIT (AP) -- Chrysler and Fiat will be known as Fiat Chrysler Automobiles NV as they move forward together as a single company.

Fiat's board of directors agreed on the new name Wednesday, with headquarters for tax purposes in the United Kingdom. But the board sidestepped the thorny political issue of whether the true headquarters would be in the United States or Italy.

The announcement came on the same day both Fiat and Chrysler announced fourth-quarter and full-year earnings. Chrysler once again propped up its parent company, which would have lost money without the U.S. automaker's strong profits. Continue reading...



Manufacturers Are Leaving China, But Where Are They Headed?

Seeing China’s manufacturing sector shrink is a trend that excites Americans, although it may not actually alleviate much of the pressure around a U.S. unemployment rate of 7.3 percent. The reality, according to many experts, is that the phenomenon is more one of nearshoring than reshoring, as many of these businesses — along with their jobs — head to Mexico. 

The competitiveness of offshoring has been declining for years, as China has faced increasing wages and currency costs, as well as higher fuel and transportation costs. There are also many hidden costs and risks that are difficult to anticipate. According to Jason King, Vice President of global business firm AlixPartners, “companies are waking up to the harsh reality that manufacturing offshore in places like China and other low-cost countries is costlier than it initially looked.”

In fact, by some estimates, manufacturing in China will cost as much as manufacturing in the U.S. as soon as 2015. Continue reading...



83-Year-Old Nun To Be Sentenced For Sabotage

NASHVILLE, Tenn. (AP) -- An 83-year-old Catholic nun convicted in a protest and break-in at the primary U.S. storehouse for bomb-grade uranium will find out Tuesday whether she spends what could be the rest of her life in prison.

Sister Megan Rice is one of three Catholic peace activists convicted of sabotage last year after they broke into the nuclear weapons plant in Oak Ridge, Tenn. Sentencing for all three is scheduled for 9 a.m. Tuesday at U.S. District Court in Knoxville. Continue reading...



German TV: Snowden Says NSA Also Spies On Industry

BERLIN (AP) -- Former NSA contractor Edward Snowden claimed in a new interview that the U.S. agency is involved in industrial espionage.

In the interview aired Sunday night on German public television broadcaster ARD, Snowden said if German engineering company Siemens had information that would benefit the U.S., but had nothing to do with national security needs, the National Security Agency would still use it.

It wasn't clear what exactly Snowden accused the NSA of doing with such information — he only said he didn't want to reveal the details before journalists did. Continue reading...



Seat Fabric May Force Toyota Recall in U.S., Canada

TOKYO (AP) -- Toyota Motor Corp. is in discussions with the National Highway Traffic Safety Administration about a possible recall in the U.S. and Canada covering several car models, including the popular Camry, for a problem with seat fabric.

The Japanese automaker has already halted sales of the problem vehicles, which are only those equipped with seat heaters, because the fabric may not clear flammability standards, company spokesman Naoki Sumino said Thursday. Continue reading...



Obama Speech: Big New Theme, Some Familiar Content

WASHINGTON (AP) -- Newly repackaged, President Barack Obama's State of the Union address will deliver familiar content along with some targeted first-time initiatives that both test and illustrate the limits of divided government in an election year.

His message to a joint session of Congress on Tuesday will identify measures where he and Congress can cooperate, and he will press issues that will distinguish him and Democrats from Republicans. He'll also make a case for acting alone. Continue reading...


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