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Italy gov't demands Fiat clarify industrial plans

Submitted by Fox First at Ten on September 15th

ROME (AP) - Two Italian Cabinet ministers have demanded that carmaker Fiat, which controls Chrysler, clarify its plans for investments in Italian plants amid mounting concern over possible closures. Economic Development Minister Corrado Passera said the government isn't interfering in Fiat'

Ford recalls some 2012 Ford Edge SUVs

Submitted by Fox First at Ten on September 15th

By The Associated Press Ford Motor Co. is recalling some of its 2012 Edge vehicles because of concerns that the fuel line could leak and potentially cause a fire. The recall affects about 5,500 vehicles made between Sept. 2, 2010, and Oct. 31, 2011.The Edge is a midsized SUV, and the affected

German lawmaker: no majority for 3rd Greek bailout

Submitted by Fox First at Ten on September 15th

BERLIN (AP) - Germany's parliament is unlikely to approve a third financial rescue package for Greece, a senior lawmaker in Chancellor Angela Merkel's governing coalition said Saturday. The comments by Rainer Bruederle, the parliamentary leader of the Free Democrats party, indicate growing

Feds investigate Ford police car steering problem

Submitted by Fox First at Ten on September 15th

By TOM KRISHERAP Auto Writer DETROIT (AP) - Government safety regulators are investigating Ford's Crown Victoria police cars due to complaints about defective steering columns. The probe affects about 195,000 cars from the 2005 through 2008 model years. The government has received three

Europe at loggerheads over banking reform

Submitted by Fox First at Ten on September 15th

By PAN PYLAS NICOSIA, Cyprus (AP) - Europe faces weeks of tough negotiations to agree on a new region-wide banking supervisor after divisions emerged over the new body's powers at a meeting of the region's finance ministers Saturday. The design of the new supervisory framework is widely

Lacker says Fed program raises inflation threat

Submitted by Fox First at Ten on September 15th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - The lone dissenter to the Federal Reserve's decision to launch a third round of bond buying to boost the economy says he doesn't think it will provide much help. He also says it runs the risk of making future inflation worse.

Teamsters approve contract with Hostess Brands

Submitted by Fox First at Ten on September 15th

IRVING, Texas (AP) - Workers belonging to Hostess Brands' biggest union on Friday narrowly approved new contract terms, raising the possibility that the maker of Twinkies and Wonder Bread will stay in business. But another group of employees rejected the contract terms that Hostess says are

Bank failure in Missouri brings 2012 total to 42

Submitted by Fox First at Ten on September 14th

WASHINGTON (AP) - Regulators on Friday closed a small bank in Missouri, bringing to 42 the number of U.S. bank failures this year. The Federal Deposit Insurance Corp. said it seized Truman Bank, based in St. Louis. The bank had about $282.3 million in assets and $245.7 million in deposits as of

In a crummy economy, why are stocks soaring?

Submitted by Fox First at Ten on September 14th

By CHRISTINA REXRODE and DANIEL WAGNERAP Business Writers WASHINGTON (AP) - Economic growth is pitiful. Unemployment has topped 8 percent for an exhausting 43 months. The nation is careering toward a so-called fiscal cliff, and maybe a recession. So why is the Dow Jones industrial average, that

News Summary: Why do stocks soar in weak economy?

Submitted by Fox First at Ten on September 14th

By The Associated Press STOCKS VS. ECONOMY: Economic growth is pitiful, unemployment is high and the nation is at risk of another recession. Yet the Dow Jones industrial average has rallied to just 4 percent shy of an all-time high. MAIN MAN: To explain the contradiction, start with one guy: