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Looking beyond the wars he inherited, President Barack Obama on Thursday initiated a remolding and contracting of the military.

Chrysler stated that it has decided to append 1,100 jobs at its Jefferson North assembly facility in Detroit, where it amasses the Dodge Durango and Jeep Grand Cherokee sport utility vehicles.

Oil dropped for a second consecutive day in New York, cutting down a weekly gain, as growing U.S. crude inventories and signals that Europe’s sovereign debt disaster is deteriorating pointed to uncertain demand for fuel.

Gasoline rates at the pump began the year off with a bang — at the uppermost-ever stage for the start of 2012, and analysts anticipate a particularly volatile 2012.