WASHINGTON - CHRYSLER and Fiat announced on Wednesday they have finalised a global strategic alliance, forming a new Chrysler Group that will begin operations immediately.

The move completes a quick restructuring of the troubled number three US automaker in a plan orchestrated and backed financially by the administration of US President Barack Obama and the Canadian government.

UNITED NATIONS - WORLD powers on Wednesday agreed to expand sanctions to punish North Korea for its recent nuclear test and weapons program, as Russia said it expected the North to launch another provocative missile test.

The five permanent UN Security Council members, plus Japan and South Korea, agreed on a draft resolution to be discussed on Friday, a diplomat said.

WASHINGTON - The US trade deficit widened for the second consecutive month to US$29.2 billion (S$42.3 billion) in April as exports decreased more than imports amid a global economic slowdown, the government said on Wednesday.

The deficit, in line with expectations, rose from a revised $28.5 billion in March, when the gap started to widen after seven consecutive months of decline, the Commerce Department said.

SINGAPORE has become one of the 10 most expensive cities in Asia for expatriates to live, according to a new cost-of-living survey.

That's because although the pace of price rises of many goods and services slowed in Asia this year, this did not happen as much in Singapore, said human resources firm ECA International which conducted the survey.