Author: CHARLES RILEY, CNN BUSINESS

Fiat Chrysler, Peugeot agree to merge

Fiat Chrysler and Peugeot owner PSA Group have signed a binding merger agreement, solidifying a nearly $50 billion deal that will create the world's third largest automaker.

Another big luxury deal may be brewing

Kering, the owner of luxury brands including Gucci and Yves Saint Laurent, has held exploratory talks to buy Italian apparel company Moncler, according to Bloomberg.

Brexit could cut UK car production in half

UK auto production is already plummeting and Brexit could make things even worse, limiting annual output to just 1 million cars, about half what the industry was planning to make in 2020 just a few years ago.