U.S. will not provide A123 with remaining grant money

WASHINGTON Mon Dec 10, 2012 12:45pm EST

WASHINGTON Dec 10 (Reuters) - The U.S. Energy Department will not dole out the remaining half of its $249 million grant to now-bankrupt battery maker A123, a department official said on Monday.

China's Wanxiang Group won an auction over the weekend for most of the assets of A123, which makes lithium ion batteries for electric cars.

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.