Elio Motors moves into former GM plant in Louisiana
Elio Motors plans to assemble its three wheel, two seat vehicle at the RACER Trust owned Shreveport facility. The startup aims for 65 mpg and a $6,800 price with 1,500 jobs by late 2015, backed by $100 million plus tax incentives.
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US manufacturing expands slightly in December ISM report
The ISM index rose to 50.7 in December from 49.5 in November signaling modest growth. Employment improved to 52.7 from 48.4 while new orders held steady and production rose slowly. The survey, completed before fiscal cliff deals, notes stockpiles trimmed and export orders above 50 as overseas demand picks up.
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Vatican shifts to cash only for museum payments
Tourists at the Vatican now pay cash for tickets and souvenirs after Italy’s central bank blocked electronic payments, including credit cards, at the Vatican. Deutsche Bank Italia had provided services but lost authorization after December 31 due to EU money laundering safeguards. The move sparks lines and frustration among visitors.
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