Deals of the Hour

Trying to find out what's the deal with the world, tracking what's on sale and who's talking about it on Twitter. Update hourly.

Deals of the Hour / June 3, 2011, 12:44 pm

Fiat Buys Rest of U.S.'s Chrysler Stake, Right to UAW Shares

The U.S. Treasury said it will receive an additional $60 million as part of a deal for Fiat to acquire the government's rights to buy a union trust fund's stake in Chrysler. The Canadian government will get $15 million from that part of the transaction ... (Source: BusinessWeek 2011-06-03T08:41:15Z)

Polyus Gold says not in merger talks with gold majors

Polyus co-owner and Chief Executive Mikhail Prokhorov said last month he was seeking a merger partner for Polyus and was hoping to complete a deal by the end of the year. [ID:nLDE75206R] (Source: Reuters 2011-06-03T08:19:46Z)

Arch Coal prices stock offering

St. Louis-based Arch Coal, led by Chairman and CEO Steven Leer , launched a tender offer May 14 to buy Scott Depot, W.Va.-based International Coal Group Inc. for $14.60 per share, a total of $3.4 billion in cash. The combined company will be the second ... (Source: The Business Journal 2011-06-03T19:04:01Z)

Fiat to Buy Rest of U.S. Government's Chrysler Stake, Right to UAW Shares

The U.S. Treasury said it will receive an additional $60 million as part of a deal for Fiat to acquire the government's rights to buy a union trust fund's stake in Chrysler. The Canadian government will get $15 million from that part of the transaction ... (Source: Bloomberg 2011-06-03T08:26:56Z)

Tesla prices secondary stock offering at $28.76

It will offer a $50,000 four-door luxury sedan called the Model S next year. Tesla also makes technology, such as battery packs and chargers, for Daimler and Toyota. It is developing the power system for an electric version of the Toyota RAV-4, a popular ... (Source: Detroit News 2011-06-03T19:18:20Z)

San Diego fireworks — and much more — are in limbo

Quinn was prepared to let her order take effect immediately but had second thoughts after a city attorney warned Thursday that it would deal a severe economic blow. The Coastal Environmental Rights Foundation sued San Diego last year to force a review of a ... (Source: AP - msnbc.com 2011-06-03T08:26:56Z)

Protesters take over finance ministry in Athens

Greece has so far received €53 billion from last May's rescue deal. Greek officials were also completing tough negotiations on the details of more austerity measures needed to ensure the country can avoid defaulting on its debts. The original bailout ... (Source: AP - msnbc.com 2011-06-03T08:26:56Z)

In South Dakota, some blame Corps for flood threat

She said conditions on May 1 indicated peak releases at only a third of what they're now projected, and the reservoir system had full capacity to deal with flood control at the start of the runoff season. All that changed with the record rainfall in the ... (Source: St. Louis Post-Dispatch 2011-06-03T19:04:01Z)

UPDATE 1-Prada point to rising profits ahead of HK IPO

Prada, known for its handbags and Miu Miu dresses, plans to sell 423.3 million shares, equivalent to 16.5 percent of its enlarged capital, according to a term sheet of the deal seen by Reuters on Wednesday. The IPO has been valued at around $2 billion. (Source: Reuters 2011-06-03T08:34:05Z)

Moody's may cut BofA, Citi, Wells ratings

WFC - News ), citing concerns about waning U.S. political willingness to offer support for the largest banks. The sweeping Dodd-Frank financial reform law is eliminating the certainty of U.S. governmental support that some "too big to fail" banks needed to ... (Source: Yahoo Finance 2011-06-03T09:17:02Z)

Carla Bailo takes R&D reins of Nissan in North, Latin America

During her stint in Japan, Bailo helped broker deals with other automakers, said Andy Palmer, Yokohama-based executive vice president of product planning at Nissan. "Carla is not only a very talented engineer, but also a very shrewd businesswoman," he said. (Source: Detroit News 2011-06-03T19:18:20Z)

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