DENSE FOG ADVISORY

UNTIL 10 AM

The National Weather Service issues a DENSE FOG ADVISORY for all of West Michigan until 10 AM.  Many reports of dense fog already exist, and your visibility may become worse before noticeable improvements.  Recent rainfall, high moisture levels, especially near the ground, and light winds all combine to create fog.  Slowing down and increasing your stopping distance are a few ways to increase your safety while driving.  

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Automakers awarded $50M in federal tax credits

Updated: Friday, December 13, 2013 |
Automakers awarded $50M in federal tax credits story image
DETROIT (NEWSCHANNEL 3) - Michigan automakers Ford and General Motors have been awarded $50 million in federal tax credits to promote investment in clean-energy manufacturing.

Senator Debbie Stabenow made the announcement Thursday.

Ford will get $30 million for its Michigan assembly plant in Wayne, while GM received $20 million for its Detroit-Hamtramck assembly plant.

Both plants are key to the automakers production of energy-efficient vehicles.

The tax credits are part of the advanced energy manufacturing tax credit program, which is part of the American Recovery and Reinvestment act of 2009.
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Last Update on August 31, 2015 07:33 GMT

ECONOMY-THE DAY AHEAD

WASHINGTON (AP) --There are no major economic reports scheduled for release today. But tomorrow, the Institute for Supply Management will issue its manufacturing index for August and the Commerce Department will report on construction spending for July.

Also tomorrow, automakers will release vehicle sales for August.

On Wednesday, the Labor Department will reveal second-quarter productivity data and the Commerce Department will report on factory orders for July. The Federal Reserve will also release its Beige Book.

CURRENCY REDESIGN

SENECA FALLS, N.Y. (AP) -- U.S. Treasurer Rosie Rios plans to travel to the National Women's Hall of Fame in upstate New York later today to hear from the public about plans to put a woman on the $10 bill.

Rios is scheduled to be at a town hall meeting in Seneca Falls, where the original 1848 Women's Rights Convention was held.

Treasury Secretary Jacob Lew announced in June that the $10 bill would be redesigned, with the portrait of Alexander Hamilton replaced with a woman. Lew says the agency has so far gotten more than a million responses to his request for comments.

Officials plan to make a decision by this fall, with the total redesign completed by 2020, the 100th anniversary of the passage of the 19th Amendment giving women the right to vote.

BERKSHIRE HATHAWAY-PHILLIPS

UNDATED (AP) -- Billionaire investor Warren Buffett's company has amassed a stake worth nearly $4.5 billion in Phillips 66 more than a year after trading a chunk of its holding in the oil refiner for a chemical business investment.

A regulatory filing says Berkshire Hathaway Inc. has accumulated about 58 million shares, which amounts to more than 10 percent of the Houston company's stock.

In late 2013, the Omaha, Nebraska, company agreed to trade about $1.4 billion of its Phillips 66 stock for one of the refiner's businesses that makes additives to help crude oil flow through pipelines.

Many investors watch Berkshire Hathaway filings closely because they like to copy Buffett's moves given his successful record.

ITALY-ENI-GAS FIELD

ROME (AP) -- An Italian energy company Eni says it has discovered a "supergiant" natural gas field off Egypt.

The company, Eni, says it's the largest ever found in the Mediterranean Sea.

The discovery well is about 120 miles from the Egyptian coast, at a depth of nearly 4,800 feet.

Eni says after full development, the discovery will be able to ensure satisfying Egypt's natural gas demands "for decades."

GENERAL MILLS-CLIMATE CHANGE

GOLDEN VALLEY, Minn. (AP) -- General Mills says it's eager to do its part to fight climate change, so it's setting a goal of cutting greenhouse gas emissions by 28 percent over the next decade -- from farm to fork to landfill.

The giant food company outlined its plans to The Associated Press ahead of an official announcement today.

General Mills says it will invest more than $100 million in energy efficiency and clean energy in its own operations. But its plan appears to stand apart from other companies' efforts by getting its suppliers and consumers into the act.

Those suppliers will be encouraged to do things like engage in more sustainable agriculture.

CEO Ken Powell says the company is acting because climate volatility will ultimately be bad for its business.

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