The daily business briefing: July 25, 2018

Former Fiat Chrysler CEO Sergio Marchionne dies, Trump plans $12 billion in aid to farmers hurt by trade war, and more

Former CEO of Fiat Chrysler Sergio Marchionne
(Image credit: JEWEL SAMAD/AFP/Getty Images)

1. Former Fiat Chrysler CEO Sergio Marchionne dies at 66

Former Fiat Chrysler CEO Sergio Marchionne has died after suffering complications from recent surgery. Marchionne, 66, fell gravely ill after shoulder surgery in a Zurich hospital, and lapsed into a coma. Marchionne, one of the auto industry's most respected leaders, was replaced by Jeep executive Mike Manley days earlier after his condition worsened last weekend. He stepped down from his role as CEO of Ferrari, which was spun off from Fiat more than two years ago, at the same time. "Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone," FCA Chairman John Elkann said in a statement. "I believe that the best way to honor his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion."

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.