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July 14, 2012 / 1:27 PM

Report: Fiat may need Chrysler's help

ROME, July 14 (UPI) -- Italy's Fiat may have to turn to its U.S. partner Chrysler for some help riding out economic headwinds, the Financial Times said Saturday.

Fiat, which holds a 62-percent stake in Chrysler, is faced with a serious downturn in auto sales in Europe and is looking to Chrysler for some financial assistance.

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The FT said Chrysler has about $10 billion in cash Fiat could have access to in the near future.

Fiat is the largest employer in Italy, but its annual sales in Italy are down by about half of what they were in 2000, and plants have cut operations to about 53 percent of capacity, Italy's ANSA news service said.

Austin visits Ukraine, voices U.S. support against Russian aggression

Defense News // 2 years ago

Austin visits Ukraine, voices U.S. support against Russian aggression

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Citing Russian occupation, U.S. signs new defense pact with Georgia

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Pentagon orders all civilian employees to be fully vaccinated by Nov. 22

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Army investigating suspected suicides of three Fort Drum soldiers

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South Korean firm to supply rapid COVID-19 test kits to U.S. military

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Army tests MK-22 Precision Sniper Rifle at Fort Bragg ahead of fielding

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U.S. Navy, Bahrain partner to ramp up unmanned systems use

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U.S. Space Force to take over SATCOM operations from Army, Navy

Defense News // 2 years ago

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