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Fiat Chrysler HQ in Auburn Hills, Michigan. Photo: Bill Pugliano/Getty Images

Fiat Chrysler and Peugeot-maker PSA Group of France are moving forward with a merger that is expected to be announced Thursday, CNBC reports.

The big picture: Last May, Fiat Chrysler submitted a proposal for a 50-50 merger with Renault, but the deal couldn't get off the ground without the French government's approval, a major shareholder in Renault. However, the new talks between Fiat and Peugeot are fluid and a final deal may not even be reached.

Our thought bubble via Axios' Joann Muller: Fiat Chrysler's talks with PSA could be a way to leverage Renault to restart negotiations. The Renault deal made more sense than this possibility.

  • The bottom line per WSJ: "A deal would give Fiat Chrysler more exposure to Europe, where Peugeot sold 2.5 million vehicles last year, compared with one million for Fiat Chrysler. The Italian-American company, however, has tried in recent years to lessen its dependence on the continent."

Go deeper: Another marriage scuttled, Fiat Chrysler forges ahead

Go deeper

California to pay off unpaid rent accrued during COVID-19 pandemic

California Gov. Gavin Newsom. Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

California will pay off the accumulated unpaid rent that has piled up during the COVID-19 pandemic, the AP reports.

Why it matters: The move would fulfill a promise to landlords to help them to break even, while giving renters relief, the AP writes.

U.S. announces destinations for 55 million more COVID vaccine doses

President Biden at a press conference on the final day of the G7 summit. Photo: Brendan Smialowski/AFP via Getty Images

The Biden administration on Monday announced a list of countries that will receive the remaining 55 million COVID-19 vaccine doses that the U.S. has pledged to allocate by the end of this month.

The state of play: The White House had previously named the recipients of the first 25 million of the 80 million doses that the U.S. has pledged to export, as it took its first step toward becoming a global vaccine supplier.

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