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Business Minute: Fiat, Jobless Claims & Rough Start for Wall Street

Good news for the job market, Fiat makes a move and a rough start for Wall Street. It's your Business Minute this Friday morning.
Time now for your Business Minute on this Friday morning.

A POSITIVE

Some positive economic data has been released. Initial jobless claims fell by 2,000 for the final week of 2013 to 339,000, and construction spending in November hit its highest level since March of 2009.

FIAT & CHRYSLER

Fiat signing an agreement to buy the stake in Chrysler it doesn't already own. The Italian carmaker will acquire the roughly 41 percent stake from a retiree healthcare trust affiliated with the UAW for $3.7 billion in cash. Once the deal closes, Chrysler has also committed to giving the trust an additional $700 million.

JACKPOT!

Macau Casinos hitting the jackpot. Revenues last year hit a record $45 billion. One analyst estimating Macau's take would be more than seven times the amount earned on the Las Vegas strip.

STOCKS

The Dow tallying a triple-digit loss of 135 points for Thursday, while the S&P 500 loses 16 and the Nasdaq down 34 points.

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