Detroit Mayor Mike Duggan announces plans for Fiat Chrysler to build a new assembly plant include $12 million in tax abatements over a dozen years and 200 acres of land during a news conference in Detroit, Tuesday, Feb. 26, 2019. Duggan's office said that the city will work with the state on other incentives for the automaker's $1.6 billion investment to convert its Mack Avenue Engine Complex into a new facility. The city has 60 days to get the land, 170 acres of which is owned by the city, a power utility, a public water authority and a family of prominent wealthy businessmen. (AP Photo/Carlos Osorio) Detroit Mayor Mike Duggan announces plans for Fiat... Photo by Carlos Osorio Fiat Chrysler on Tuesday announced a $4.5 billion plan that includes building the first new auto assembly plant in Detroit in almost three decades and increasing its workforce in the area by about 6,500 jobs, an investment officials touted as an uncommon opportunity to revive the region's economy. Under … [Read more...] about Fiat Chrysler: $4.5 billion plan would add 6,500 Detroit-area jobs
4 5 billion years ago
Feb 26, 3:54 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Dawn Geske 02/26/19 AT 3:45 PM Fiat Chrysler Automobiles (FCAU) has announced that it will be investing $4.5 billion into its Michigan manufacturing plants to build the Jeep Grand Cherokee and a new Jeep SUV as part of its industrialization plan.The company will expand its Mack Avenue Engine factory into a new assembly plant for the vehicles, adding 6,500 new jobs to the area. Fiat Chrysler also said it will increase production at five other plants in the state.“Three years ago, FCA set a course to grow our profitability based on the strength of the Jeep and Ram brands by realigning our U.S. manufacturing operations,” Mike Manley, CEO at FCA N.V. said in a statement. “Today’s announcement represents the next step in that strategy.“It allows Jeep to enter two white space segments that offer significant margin opportunities and will … [Read more...] about Fiat Chryslers’ $4.5 Billion Investment In Michigan: What Does It Mean For The Company?
WASHINGTON - Scientists have discovered in 2.1-billion-year-old black shale from a quarry in Gabon the earliest evidence of a revolutionary development in the history of life on Earth, the ability of organisms to move from one place to another on their own. The researchers on Monday described exquisitely preserved fossils of small tubular structures created when unknown organisms moved through soft mud in search of food in a calm and shallow marine ecosystem. The fossils dated back to a time when Earth was oxygen-rich and boasted conditions conducive to simple cellular life evolving more complexity, they said. Life emerged in Earth's seas as single-celled bacterial organisms perhaps 4 billion years ago, but the earliest life forms lacked the ability to move independently, called motility. The Gabon fossils are roughly 1.5 billion years older than the previous earliest evidence of motility and appearance of animal life. The Gabonese shale deposits have been a treasure trove, also … [Read more...] about Earth’s earliest mobile organisms lived 2.1 billion years ago
Jan 27, 11:34 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Rich Duprey 01/27/19 AT 11:11 PM Amazon.com's (NASDAQ:AMZN) cashierless Amazon Go convenience stores don't just replicate productivity rates typically achieved by elite retailers like Apple (NASDAQ:AAPL). When the full complement of 3,000 stores that the e-commerce giant is planning to flood the market with are up and running, they could be generating returns 50% greater than the typical convenience store.Data from RBC Capital Markets suggests the average Amazon Go location can generate $1.5 million in sales annually versus convenience stores of a similar size, which generate sales of about $1 million a year, according to the National Association of Convenience Stores. Extrapolate those figures to 2021, when all the Amazon Go stores are planned to be operational, and the company could be pulling in $4.5 billion a year in sales.The … [Read more...] about Amazon.com’s $4.5 Billion Retail Opportunity
VietNamNet Bridge - MB Securities estimates that if Vietnam is upgraded into a secondary emerging market, it will be able to attract $4.5 billion worth of capital. Hoang Cong Tuan from MBS said at a workshop on the prospects of Vietnam’s stock market several days ago that Vietnam may be put on MSCI’s watchlist for upgrading to an emerging market by June 2020. He believes the possibility of joining MSCI Emerging Market is high. Under MB Securities’ positive scenario, the announcement about the upgrading could be released by June 2021. The proportion of Vietnam’s stocks in MSCI index basket would depend on the capitalization value and the market liquidity at the time of being upgraded. It is still too early to estimate the amount of capital. However, MBS estimates that, if the upgrading had been announced in December with the proportion of 0.3 percent, the foreign capital flow would have been worth $4.5 billion. The proportion of Vietnam’s … [Read more...] about $4.5 billion to be poured into Vietnamese stock market: analysts