Fiat Takes Control of Chrysler

Italian automaker Fiat has finalized its deal for bankrupt American manufacturer Chrysler Wednesday morning, forming an alliance that puts Fiat's CEO, Sergio Marchionne, in the driver's seat. The agreement comes a day after the Supreme Court "refused to hear an appeal of lower-court rulings that approved the asset sale," the Associated Press reports. "Fiat won't put any money into the deal but will give Chrysler sorely needed small-car and fuel-efficient-engine technology."