BIZ BITS

Odyssey to buy company stake

Tampa treasure-hunting company Odyssey Marine Exploration Inc. announced a deal Friday to acquire a minority interest in SMM Project LLC, which controls licenses for mineral exploration of about 150,000 square kilometers of Pacific Ocean floor. Odyssey expects to dedicate a ship, technology and supervision to explore for deep-ocean gold, copper and silver deposits.

UPS hiking rates 4.9%

UPS Inc., the world's largest shipping carrier, is hiking 2010 rates for ground packages by an average of 4.9 percent.

The company, based in Atlanta, said Friday there also will be an average net rate increase of 4.9 percent next year on all air express and U.S. origin international shipments.

The new rates take effect Jan. 4.

No JPMorgan Chase arbitration

JPMorgan Chase & Co. said Friday it is dropping a clause from its credit card contracts that required disputes with customers to be handled through binding arbitration, a move that could lead to consumers filing class-action and other lawsuits.

Banks say arbitration is less costly for everyone than lawsuits, but consumer groups have criticized the practice as tilted in favor of banks.

Chrysler jacks up incentives

Chrysler Group LLC is offering discounted financing or cash rebates on most 2010 models through Jan. 4.

Buyers of any Chrysler, Jeep or Dodge vehicle can get interest-free loans of up to 60 months, or cash rebates of up to $3,000 for Chrysler, up to $4,000 for Jeep and up to $2,500 for Dodge cars.

Buyers of leftover 2009 Dodge Ram 1500 pickups can get no-interest loans of up to 72 months, or up to $5,500 cash back. Buyers of the 2010 Dodge Ram 1500, can borrow at 0 percent for up to 48 months or at 2.9 percent for 60 months, or choose cash rebates of up to $2,500.

Delta CEO pushes for deal

Atlanta-based Delta is trying to lure Japan Airlines away from its marketing alliance with American Airlines by offering $1 billion in financial assistance to JAL as it restructures.

A staff and wire report