Free Republic

The war being waged by Russia in Ukraine shows no signs of coming to any type of peaceful end. Meanwhile, it appears to me that a separate war on the U.S. dollar could be “officially” waged at any moment, by Russia and China collectively, as the situation in Ukraine grows more dire, as Russia’s options wane and its ties with China grow closer. While the hope is still to avoid a World War III type scenario, escalating sanctions from the West are forcing an increasingly unhinged Vladimir Putin to consider his options for pushback. For example, on Sunday, Putin put...

Some 1,600 jobs are being cut at a Jeep Cherokee factory in northern Illinois as automakers continue being plagued by the global shortage of semiconductors. The U.S. arm of Stellantis, formerly known as Fiat Chrysler, said Friday it was cutting one of the two work shifts at its Belvidere Assembly Plant as of July 26. That could result in the layoffs of 1,641 workers, .... the factory’s situation “has been further exacerbated by the unprecedented global microchip shortage,” Tinson said. The Belvidere facility has been idled since late March, with Stellantis repeatedly delaying the reopening that is now not expected...

Tesla has relied on selling emissions credits to boost its revenue, and Fiat Chrysler Automobiles (FCA) has been one of its biggest clients. But now that FCA has merged with the PSA Group to form Stellantis, it won't need Tesla emissions credits anymore, the Financial Times (subscription required) reported this week, based on executive comments.Automakers are allowed to purchase credits to make up for not meeting emissions targets. Because it sells only electric cars, Tesla has always had plenty of credits to sell, creating a major revenue stream for the automaker. Stellantis' decision to stop buying emissions credits from Tesla...

INTERNATIONAL MAN's INTERIEW WITH NICK GIAMBRUNO: Chief Analyst of Casey Research’s flagship advisory, The Casey Report and its premium “value investing” advisory, Crisis Investing. International Man: For over 2,500 years, gold has been mankind’s most enduring money.With the emergence of Bitcoin - which has piqued the interest of many - there is a new hard money option.How do you see the two as governments worldwide are engaged in the most extreme money printing experiment in history?Nick Giambruno: Let me first say that I am all for free-market competition in money. I say let the best money win.To really understand what...

Violent protests erupted across Lebanon on Saturday after the country’s currency plummeted to a new record low, amid an economic crisis that poses the biggest threat to its stability since the 1975-1990 civil war. The Lebanese pound has lost roughly 85 percent of its value in recent months and slid to a record new low on Saturday, falling to 12,500 pounds to the US dollar on the black market, though the official rate remains at roughly 1,500 pounds to the dollar. In response, there was a protest near the parliament in Beirut, during which protesters briefly stormed a reinforced gate...

Since its creation more than 12 years ago, Bitcoin is undefeated. Its price has leaped from $5 to $50 to $500 to $5,000 to now past $50,000. The number of global users has eclipsed 100 million. The system’s network security, number of developers, and new applications are at all-time highs. Dozens of companies including Tesla and Square have started to add Bitcoin to their corporate treasuries. This worldwide success doesn’t mean that people haven’t tried to stop Bitcoin. The digital money project has in fact survived a variety of attacks which in some cases threatened its existence. There are two...

MILAN - Fiat Chrysler and unions are discussing plans for beefed-up health measures at Italian plants to pave the way for most profitable production to restart as soon as the government eases a national lockdown, unions said on Wednesday. An extension of a national lockdown due to expire on April 13 cannot be ruled out, but recent coronavirus data allowed growing confidence that the virus was on the retreat in Italy. Measures proposed by FCA’s unions include rearranging assembly layouts, staggering shifts, and marking floors to ensure a one-meter distance is kept between workers, FIM representative Raffaele Apetino said, adding...

MILAN (Reuters) - Italian carmakers Ferrari and Fiat Chrysler are in talks with the nation’s biggest ventilator manufacturer to help to boost production of the life-saving machines that are urgently needed in the coronavirus crisis, company officials said on Thursday. Italy is at the epicenter of the pandemic and its government has embarked on a big expansion of the number of intensive care beds, many of which will require ventilators to keep patients alive by taking over breathing functions. Siare Engineering in northern Italy, where deaths are nearing 3,000 and climbing sharply, is in talks with Fiat Chrysler (FCA), Ferrari...

Fiat Chrysler is in talks with the Chinese company Foxconn to develop and manufacture battery-powered vehicles, the U.S.-Italian automaker said Friday. Fiat Chrysler is in the process of merging with France’s PSA Peugeot, which is 12% owned by Chinese company Dongfeng Motor Co. Both Fiat Chrysler and Peugeot have lagged in developing electric powertrains and also have been struggling to increase sales in China, the world’s biggest auto market. It was unclear what impact Fiat Chrysler’s proposed joint venture with Foxconn, formally known as Hon Hai Precision Ind. Co., Ltd., would have on the wider merger, which is expected to...

MILAN/PARIS (Reuters) - The board of French carmaker PSA (PEUP.PA), the owner of Peugeot, approved a binding agreement for a $50 billion merger with rival Fiat Chrysler (FCHA.MI), a source close to the matter said on Tuesday. A separate Fiat Chrysler (FCA) board meeting was under way to discuss finalizing the memorandum of understanding to create the world’s number four carmaker, the source added, in a deal that would reshape the global car industry. Both companies declined to comment.

California said on Monday it will halt all purchases of new vehicles for state government fleets from GM, Toyota and Fiat Chrysler and other automakers backing President Donald Trump in a battle to strip the state of authority to regulate tailpipe emissions. Between 2016 and 2018, California purchased $58.6 million in vehicles from General Motors Corp, $55.8 million from Fiat Chrysler Automobiles $10.6 million from Toyota Motor Corp and $9 million from Nissan Motor Co. Last month, GM, Toyota, Fiat Chrysler and members of the Global Automakers trade association backed the Trump administration's effort to bar California from setting tailpipe...

The Wall Street Journal is reporting today that the two manufacturers are combining, bringing Fiats, Rams, Citroëns, and Opels under one $46 billion umbrella.

Two of the world's biggest car companies Fiat Chrysler and PSA - the owner of Peugeot, Citroen and Vauxhall - confirmed that they have agreed a merger today. The move would tie together Fiat Chrysler's major position in North America and PSA's status as Europe's second largest carmaker, to create the world's fourth biggest vehicle firm. The firms say that they could save £3.2billion (€3.7billion or $4.1billion) in costs with the merger, but claim they could do this without any factory closures. However, the deal is likely to face fierce scrutiny as employees and unions fear that it would lead...

Fiat Chrysler says construction is set to begin immediately on a new $1.6 billion assembly plant on Detroit's east side. A representative of the automaker told state officials Tuesday that vehicles are expected to start rolling off the line at the plant by late 2020. The Detroit City Council on Tuesday approved land deals and community benefits agreements tied to the project. Michigan's Strategic Fund was expected to vote Tuesday afternoon on the state's portion of incentives for the project. Fiat Chrysler is pledging to add 6,400 jobs in the Detroit area, including just under 5,000 in the city of...

Fiat Empire Full Documentary.

<p>FORT WAYNE, Ind. (AP and WPTA21) - Two people briefed on the matter say Detroit's three automakers have agreed to close all of their factories due to worker fears about the coronavirus.</p> <p>Automakers are expected to release details of the closure later today.</p>

The Dodge Grand Caravan’s journey is finally ending this spring. The minivan is scheduled to end production on May 22, the automaker has confirmed. The Caravan was introduced alongside the Plymouth Voyager in 1984 as a “garageable” van that helped kick off the minivan craze that continued through the 1990s, until family car buyers started making the shift to SUVs. The stretched Grand Caravan was added to the lineup in 1987 and eventually became the only version offered. The Caravan lived through five generations, with the current one dating back to 2008. U.S. sales topped 300,000 in 1996 and 1997,...

COLUMBIA, S.C. (Nov. 22, 2019) – A bill prefiled in the South Carolina House would make gold and silver coins legal tender in the state. Passage of this bill would take a step toward creating currency competition in South Carolina and undermine the Federal Reserve’s monopoly on money. Rep. Stewart Jones filed House Bill 4678 (H.4678) on Nov. 20. Under the proposed law, “gold and silver coins minted foreign or domestic shall be legal tender in the State of South Carolina under the laws of this State. No person or other entity may compel another person or other entity to...

GM Hits Fiat Chrysler with Bombshell Corruption Lawsuit by Alex Shanahan, Anna Wells 11-21-2019 "GM says Fiat Chrysler has been in cahoots with the UAW for years, and it's cost them billions."

President Donald Trump on Wednesday harshly rebuked the Federal Reserve, accusing the central bank and Fed Chair Jerome Powell of having “no guts” by not meting out a more aggressive interest rate cut as the global economy slows. The Federal Reserve on Wednesday cut interest rates again by 25 basis points to a new target range of 1.75% to 2%, and telegraphed a strong likelihood of one more rate cut by the end of the year. However, some on Wall Street anticipated a more aggressive easing of 50 basis points, particularly with financial markets conditions tightening. Indeed, markets sank to...