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Robert Kidder, a private-equity investor and former consultant for Ford Motor Company will become the chairman of Chrysler Group once the automaker emerges from bankruptcy and completes a merger with Italy's Fiat, the company said Wednesday.┬á Kidder, was also the chief executive of battery maker Duracell, and also serves as the lead director of Morgan Stanley and a board member at Schering Plough Corp.┬á He will succeed Chrysler's Bob Nardelli, who is stepping down as the bankrupt automaker's chairman and chief executive.┬á Sergio Marchionne, FiatÔÇÖs chief executive, i

Vodafone Group Plc, the worldÔÇÖs biggest mobile-phone company, may expand in Africa, including through acquisitions, using Vodacom Group Ltd. as its gateway to the continent┬á Vodafone manages Johannesburg-based Vodacom, and will involve itself in AfricaÔÇÖs market consolidation as prices of acquisition targets fall, Pieter Uys, the CEO of the South African company, said in an interview on Tuesday.

Bank of America Corp, the biggest US bank by assets, raised about $13.5 billion by selling new shares after US regulators determined it needed more cash to weather the economic condition.   The Charlotte, North Carolina- bases company issued 1.25 billion shares at around $10.77 each, according to a statement yesterday, and plans to boost common equity capital by $17 billion through the sale of stock and converting preferred shares mostly held by institutional investors, chief executive officer Kenneth Lewis said earlier this month.

Europe's largest onshore wind farm, the 140- turbine Whitelee wind farm on Eaglesham Moor in East Renfrewshire, is to be expanded further, Scottish First Minister Alex Salmond has announced.   Salmond said developers ScottishPower Renewables had been given permission to add a further 36 turbines to the site, allowing the £300 million wind farm to power 250,000 homes and potentially create up to 300 jobs.

President Barack Obama is expected to make an announcement today that will set strict limits on vehicle pollution and establish national standards across the US for the first time. ┬á White House officials describe the forthcoming announcement as ÔÇ£historic,ÔÇØ as it is expected to save 1.8 billion barrels of oil by 2016, the equivalent of taking 177 million cars off the road.

The Dubai Government's largest urban land development project, Dubai World Central (DWC), is set to go live in its first phase of operation when DWC-Al Maktoum International Airport opens in June 2010.  ''At the core of this airport city will be the world's largest airport, DWC-Al Maktoum International, which once operational next year will not only draw business and trade to it but also create huge residential and commercial opportunities,'' said His Highness Sheikh Ahmed bin Saeed Al Kaktoum, chairman of Dubai Aviation Corporation.At the airport, the construction of t

Lowe's Cos., the nation's second biggest home improvement chain, said Monday that its first-quarter profit fell 22 percent, but exceeded Wall Street expectations.  Profit dropped to $476 million, or 32 cents a share, from $607 million, or 41 cents, a year earlier. Sales in the three months ended May 1 were $11.8 billion, the company said today in a statement. Analysts had projected profit of 26 cents on sales of $11.6 billion, the average of estimates compiled by Bloomberg.

German car giant Volkswagen has said it is suspending talks with Porsche after agreeing to a merger last week, urging the luxury car maker to decrease its debt.┬á At the heart of the dispute is some Ôé¼9 billion in net debt that Porsche ÔÇö at the time Germany's most successful car maker ÔÇö has racked up while it attempted to increase its stake in VW.┬á Porsche built a 51 percent stake in Volkswagen, and appeared to be in the driver's seat, but as auto markets turned down and credit tightened, Porsche moved instead to merge operations with Volkswagen and forge a 10 bran

Wal-Mart, the world's largest retailer, has announced flat profits of $3.02 billion and slightly lower sales of $93.5 billion, down from $94 billion, for the first three months of this year compared with a year ago.   For the current quarter, the world's biggest retailer forecast results roughly in line with analysts' expectations as it faces tough comparisons with a year ago, when it got a boost from customers spending tax rebate cash in its stores.  "We're pleased to report that fiscal year 2010 is off to a very good start," said Wal-Mart chief executive Mike Duke.