Last year saw several retailers report that their profits were being hurt by “shrink.” That’s the industry term for lost inventory due to a variety of factors, though much of 2023’s reporting dealt with losses from a wave of retail theft. But as 2024 begins, investors...
A tech lobbying group is pushing back against proposed regulations for digital wallet providers. The Computer & Communications Industry Association (CCIA) — whose members include Amazon and Meta — issued a response Monday (Jan. 8) to proposed Consumer Financial Protection Bureau (CFPB) rules for larger nonbank companies that offer...
Amazon wants you to feel confident while shopping at home. They want you to make more confident purchasing decisions, and they want to lower the likelihood of you returning a product, which has become a $1 trillion problem. In fact, according to Karen Webster, returns...
A consumer group is campaigning to change Washington state’s 20-year-old gift card law. As noted in a recent Ars Technica report, the Washington Consumer Protection Coalition (WCPC) wants to change a 2004 provision governing gift card balances. That legislation barred gift cards from completely expiring, but also allowed...
Bank of America has debuted an analytics tool for its CashPro digital banking platform. CashPro Insights, announced Tuesday (Jan. 9), is designed to let the bank’s corporate and commercial clients glean insights that help them make more informed treasury decisions. “In treasury and cash management, data continues to...
Almost 1 in 5, or 23 million, American households welcomed a new furry friend during the pandemic. However, the significance extends beyond the surge in pet adoptions. People are increasingly acknowledging that furry companions occupy a special and cherished place not only in their hearts...
Luxury resale tends to be dominated by consignment platforms. Sites like The RealReal buy designer clothes, bags and jewelry, and then mark the prices to a level that will move the inventory. Or sellers can list their wares on consignment, ultimately netting a percentage of...
Duolingo has cut about 10% of its contractors due to its use of generative artificial intelligence (AI) to create content. The maker of software for learning languages has been shifting tasks from staff to AI tools, Bloomberg reported Monday (Jan. 8). “We just no longer need as many...
Barclays reportedly laid off about 5,000 workers in 2023 as part of a cost-cutting campaign. A spokesperson for the British bank told Reuters Monday (Jan. 8) that most of those cuts happened in Barclays Execution Services, the company’s support unit. “Barclays removed approximately 5,000 headcount globally through...
