The Traderszone Network

Two months after receiving a record $105 million fine for lapses in U.S. auto safety recalls, Fiat Chrysler Automobiles NV (FCHA.MI) on Tuesday revealed problems with safety data that could lead to additional financial penalties for the Italian-U.S. automaker. Fiat Chrysler said it was investigating discrepancies in early warning reports that federal law requires automakers to provide to the National Highway Traffic Safety Administration, the federal auto safety watchdog. The reports include data that could identify safety defects and ultimately lead to product recalls.

The Conference Board, an industry group, said its index of consumer attitudes rose to 103.0, the highest since January, from a downwardly revised 101.3 the month before. Economists had expected a reading of 96.1, according to a Reuters poll.

Anheuser-Busch InBev (ABI.BR) is asking banks to underwrite up to $70 billion in debt financing to back its potential takeover of SABMiller (SAB.L), banking sources said. The initial financing is expected to comprise bridge loans, which will be refinanced by bond issues, and longer term loans, the sources said. Banks working on the deal include AB InBev’s core relationship banks: Banco Santander, Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Deutsche Bank, ING, JP Morgan, Mizuho Bank, Royal Bank of Scotland, Societe Generale and SMBC, banking sources said.

The U.S. consumer watchdog reported widespread failures in the servicing of student loans on Tuesday and urged new rules to protect borrowers. “With one out of four student loan borrowers struggling to repay their loans or already in default, cleaning up the servicing market is critical,” Richard Cordray, director of the Consumer Financial Protection Bureau, said in a statement. Student loans are the second-largest U.S. consumer debt market, which has more than doubled from less than $600 billion in 2006 to more than $1.2 trillion currently, the bureau said.

Hudson’s Bay Co (HBC.TO) plans to eliminate 265 corporate jobs, mostly in the United States, and cut costs to save C$75 million ($55.86 million) as it streamlines its North American operations, the department store operator said on Tuesday. The retailer, founded in 1670 and North America’s longest continually operated company, is expecting a C$20 million charge in the third quarter as it consolidates to cut duplication across department store operations. Hudson’s Bay, which also owns the Lord & Taylor banner in the United States, bought the Saks luxury chain in 2013 for $2.4 billion.

The world’s largest retailer said on Tuesday that it would start offering curbside pickup for groceries ordered online in eight new markets this month – including Atlanta and Salt Lake City – with more to be added in the coming weeks. Wal-Mart has been testing online grocery delivery services in two markets and pickup in the five markets of Denver, Phoenix, San Jose, California, Bentonville, Arkansas, and Huntsville, Alabama. “We are not walking away from delivery,” said Michael Bender, Chief Operating Officer of global e-commerce at Wal-Mart.

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