The Traderszone Network

WASHINGTON/DETROIT (Reuters) – Volkswagen AG (VOWG_p.DE) faces penalties up to $18 billion after being accused of designing software for diesel cars that deceives regulators measuring toxic emissions, the U.S. Environmental Protection Agency said on Friday. “Put simply, these cars contained software that turns off emissions controls when driving normally and turns them on when the car is undergoing an emissions test,” Cynthia Giles, an enforcement officer at the EPA, told reporters in a teleconference.

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Petco Holdings Inc is exploring the possibility of being acquired by PetSmart Inc, according to people familiar with the matter, in a merger that could create a company that accounts for more than half of the U.S. pet supply industry’s revenues. The preliminary talks between the two private equity-owned companies come after PetSmart ruled out a deal with Petco last year in favor of a sale to a buyout consortium led by BC Partners Ltd for $8.7 billion, including debt.

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In its latest push to broaden its allure among millennials, Goldman Sachs Group Inc rolled out a series of quick-hit recruiting ads on Snapchat on Friday, becoming the first major Wall Street bank to turn to the instant-but-fleeting messaging app for potential hires. Goldman’s 10-second recruitment clips appear between user-generated content segments. In the videos, Goldman says it is seeking a “Campus Environmental Leader,” “Youth Sports Coach” or “Crowd Funding Champion,” and provides a link to gs.com/campus.

If Japan’s experience in the 1990s is anything to go by, central banks that serially disappoint market expectations of higher interest rates will soon see those expectations fall to zero. Financial markets were unnerved by the Federal Reserve’s decision on Thursday to hold interest rates close to zero despite weeks of speculation that it was about to raise them for the first time in almost a decade. For all the caveats about different circumstances, investors are again looking to Japan’s experience of 20 years ago for an inkling of what’s going on now in the major Western economies.

Anheuser-Busch InBev’s (ABI.BR) prospective deal for SABMiller PLC (SAB.L) is expected to ripple across other consumer industries in the next few years, from soda makers and bottlers to snack manufacturers. If AB InBev’s initial approach to SABMiller succeeds, the resulting brewer, with a $275 billion market capitalization, could eventually buy Coca-Cola Co (KO.N) or PepsiCo (PEP.N), analysts said. AB InBev is backed by private equity firm 3G Capital, known for a relentless focus on trimming corporate fat.

The lowest paid U.S. factory workers at Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) would get the biggest raises and the most generous profit sharing checks under a new four-year labor contract, according to details of the proposed agreement released on Friday. United Auto Workers union leaders are meeting Friday to start the drive to win ratification of the contract from 40,000 UAW workers at Fiat Chrysler. The current contract allows for a gap of more than $12 per hour between the lowest- and highest-paid assembly line workers.

SAN FRANCISCO/SYDNEY (Reuters) – A significant number of Apple Inc customers are reporting their mobile devices have crashed after attempting to upload the new iOS 9 operating system, the latest in a line of launch glitches for the tech giant. Twitter and other social media were awash with disgruntled customers reporting two distinct faults, with one appearing to be linked specifically to older models of Apple iPhones and iPads.

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