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July 25, 2015 MONEY (MSM)

Fiat Chrysler U.S. to recall vehicles to prevent hacking

DETROIT/SAN FRANCISCO (Reuters) – Fiat Chrysler will recall 1.4 million vehicles in the United States to install software to prevent hackers from gaining remote control of the engine, steering and other systems in what federal officials said was the first such action of its kind. The announcement on Friday by FCA US LLC, formerly Chrysler Group LLC, was made days after reports that cybersecurity researchers used a wireless connection to

July 25, 2015 MONEY (MSM)

Fed inadvertently publishes staff forecast for 2015 rate hike

Staff economists at the Federal Reserve expect a quarter-point U.S. interest rate increase this year, according to forecasts the Fed mistakenly published on its website in a gaffe that drew criticism about its ability to keep secrets. The disclosure of the sensitive information is the latest blow to the Fed’s reputation for secrecy around policy deliberations. Later on Friday evening, the Fed said the inadvertently released document was not the

July 25, 2015 MONEY (MSM)

India's Reliance to launch telecom venture with over 1,000 stores

India’s Reliance Industries Ltd (RELI.NS) will launch its ambitious 4G telecoms venture in December through a direct physical presence in over 1,000 “Jio Centers” and will also sell self-branded devices under its retail unit, the company disclosed in a post earnings presentation on Saturday. The energy conglomerate run by the country’s richest man, Mukesh Ambani, re-entered the telecoms sector in 2010 and has already invested over $15 billion in building

July 25, 2015 MONEY (MSM)

U.S. probing possible price-gouging by airlines after rail crash

WASHINGTON/NEW YORK (Reuters) – The U.S. Transportation Department is investigating possible price gouging by the five biggest U.S. airlines while train service was disabled between New York and Washington following a deadly Amtrak crash in May, it said on Friday. The review involves Delta Air Lines Inc (DAL.N), American Airlines Group Inc (AAL.O), United Continental Holdings Inc (UAL.N), Southwest Airlines Co (LUV.N) and JetBlue Airways Corp (JBLU.O), all of which

July 25, 2015 MONEY (MSM)

Boeing names new head of 787 program, signals continuity

Boeing Co (BA.N) on Friday named Mark Jenks as head of its flagship 787 Dreamliner passenger jet program, succeeding Larry Loftis, who will retire at the end of July. Jenks, who has been the program’s deputy head since January, will take over as its vice president and general manager, Boeing said. Jenks has been with the 787 program almost since its inception, Boeing said.