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Stock Market & Financial Investment News

News Breaks
July 28, 2014
10:38 EDTFIATYChrysler recalls 643,618 cars due to potential ignition switch defect
Chrysler, a unit of Fiat, announced that it is recalling 643,818 cars due to a potential ignition switch defect. This defect can affect the safe operation of the airbag system. Until this recall is performed, drivers should adjust their seat to allow clearance between the driver's knee and the ignition key, and remove all items from their key ring, leaving only the vehicle key. Chrysler is recalling certain model year 2005-2007 Jeep Grand Cherokee vehicles manufactured February 11, 2004, to July 5, 2007, and 2006-2007 Jeep Commander vehicles manufactured January 31, 2005, to July 5, 2007. In the affected vehicles, the driver may accidentally hit the ignition key with their knee, unintentionally knocking the key out of the run position, turning off the engine. the ignition key inadvertently moves into the "off" or "accessory" position, the engine will turn off, which will then depower various key safety systems including but not limited to air bags, power steering, and power braking. Loss of functionality of these systems may increase the risk of crash and/or increase the risk of injury in the event of a crash. Chrysler will notify owners in September. The remedy for this recall is still under development. Reference Link
News For FIATY From The Last 14 Days
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December 15, 2014
13:16 EDTFIATYUAW head looking for wage hikes in new contract, Automotive News says
Veteran auto workers should get a wage increase in a new contract, while the compensation of newly hired employees should move closer to that of longer serving workers, UAW President Dennis Williams said today, according to Automotive News. Williams said he is not considering launching a strike when the auto workers' contact ends in September, the website added. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).Reference Link
06:55 EDTFIATYTakata tightening restrictions on suppliers, Reuters reports
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