GRE Business Report: January 3rd

- Move over electric cars- Ford plans to debut its new solar-powered car next week at the Consumer Electronics Show. The new C-Max Solar Energi can go 21 miles on electricity between charges. It then can switch over and run on gasoline until it is recharged. It estimates that the solar C-Max could reduce the annual greenhouse gas emissions a typical owner would produce by four metric tons. 

Chrysler will become fully owned by Italy's Fiat under a deal that also involves the United Auto Workers Union. Fiat says it has agreed to pay nearly $4 billion for the more than 40 percent of Chrysler it does not already own. It is buying it from the UAW's medical benefits trust for retirees. The deal comes more than four and a half years after the Obama Administration brought in Fiat to keep Chrysler afloat as part of a bankruptcy deal. 

Macy's and Martha Stewart Living have reached a settlement. The two companies were at odds after Martha Stewart Living reached a deal in 2011 to sell some of its products at JCPenney. The products did not include the Martha Stewart name, but Macy's still took issue with the deal, arguing Martha Stewart Living was in breach of contract. Macy's says this settlement does not end its separate legal claim against JCPenney. 

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