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[ad_1] As retailers tried to win shoppers and boost sales in recent years, they made their online return policies more lenient than ever. But those changes have come at a cost. As more consumers shop online and send back more of those orders, retailers have moved to crack down on fraud . In some cases, shoppers can send back different items than the ones they bought, return stolen items or claim a purchase never got delivered when it really did. Retailers estimate 13.7% of returns, or $101 billion worth, were fraudulent last year, according to a survey by Appriss Retail and the National Retail Federation. The share of returns expected to be fraudulent during the peak holiday season was even higher at 16.5%, or $24.5 billion worth, the survey found. Those goods are still flowing back in, as many retailers extend return windows for purchases made in November and December through the end of January. As retailers field those returns, fraud has become their top concern, industry expert

[ad_1] Bob Iger, chairman and chief executive officer of The Walt Disney Company, pauses while speaking during an Economic Club of New York event in Midtown Manhattan on October 24, 2019 in New York City. Drew Angerer | Getty Images Disney has abandoned plans to open up a new employee campus in Lake Nona, Florida, amid rising tensions with the state's governor. Citing "changing business conditions" and the return of CEO Bob Iger, Josh D'Amaro, chairman of Disney's parks, experiences and products division, penned a memo to employees Thursday, announcing that the company will not move forward with construction of the campus and will no longer be asking more than 2,000 California-based employees to relocate to Florida. "This was not an easy decision to make, but I believe it is the right one," D'Amaro told employees. Many Disney employees balked at the company's relocation plans when they were first announced in July 2021 by former CEO Bob Cha

[ad_1] New vaccine COMIRNATY® by Pfizer, available at CVS Pharmacy in Eagle Rock, California. Irfan Khan | Los Angeles Times | Getty Images It's déjà vu for some Americans looking for the latest Covid-19 vaccines. Certain people who were lucky enough to snag an appointment for the latest formulation are receiving cancellation notices or showing up to learn there isn't a dose available for them. Some are being told they need to pay more than $100 out of pocket because their insurance provider isn't covering the shots yet. The majority of CVS locations are able to honor scheduled appointments, but delivery delays to some stores are causing them to reschedule shots, a CVS spokesperson said in a statement. Most Walgreens stores have enough supply for existing appointments and more slots are being made available as the shots come in, a spokesperson said. Vaccine manufacturers Moderna and Pfizer said they have shipped millions of doses since the new versions were approve

[ad_1] Varda's first manufacturing satellite and reentry vehicle attached to a Rocket Lab Photon bus. Rocket Lab Space startup Varda received long-awaited approval from the Federal Aviation Administration to bring its first spacecraft back to earth after a stint manufacturing drugs in space. Varda's small W-Series 1 capsule, or W-1, has been stuck in orbit since it launched eight months ago. The company has awaited regulatory authorization to make a landing attempt in Utah, at the Air Force's Utah Test and Training Range. The FAA confirmed on Wednesday it had issued the license to Varda. The FAA's approval means Varda will try to land the W-1 mission on Feb. 21. "We are incredibly proud to have this opportunity with our government partners, and appreciate their dedication to safe innovation in the United States," Varda said in a statement. The W-1 mission is a demonstration of the company's automated in-space manufacturing process. Last year, Varda

[ad_1] President Joe Biden delivers remarks about the Build Back Better legislation's new rules around prescription drug prices in the East Room of the White House on December 06, 2021 in Washington, DC. Chip Somodevilla | Getty Images Five of Pfizer's drugs will cost less for Medicare recipients starting next month as part of President Joe Biden's plan to lower prescription drug costs, the Department of Health and Human Services said Wednesday.  Pfizer's drugs are among the first set of 27 Part B prescription drugs that will be subject to Medicare inflation rebates starting April 1, according to the department. That requires Pfizer and other prescription drug companies to refund Medicare through rebates because the prices for those drugs rose faster than the rate of inflation.  Pfizer's drugs include the blood thinner Fragmin , which was approved by the Food and Drug Administration in 1994. It also includes Atgam , a medicine used to treat symptoms of Renal

[ad_1] 2024 Ford Mustang Source: Ford DETROIT — Ford Motor sees opportunity to grow Mustang sales as it becomes the last American muscle car with a traditional V8 engine, playing to generations of gearheads who've been drawn to the performance vehicles. The optimism comes after Mustang's closest American competitors ended production of their muscle cars in December. General Motors stopped producing the Chevrolet Camaro, and Stellantis ended production of its Dodge Challenger V8 ahead of a new all-electric muscle car later this year, followed by gas-powered models with twin-turbo, inline-six engines that are expected in 2025. Their exodus (and that of others in the muscle car market) is the result of changing consumer demand away from two-door cars, as well as tightening fuel economy standards and the emergence of all-electric vehicles capable of unrivaled acceleration. Jeff Marentic, general manager of Ford Blue products, which includes the Mustang, said the pony car

[ad_1] The Mandalorian and the Child (Grogu) on Disney+'s "The Mandalorian." Disney The Walt Disney Company on Friday revealed its new theatrical schedule, which will feature a film about the Mandalorian and Grogu, a fifth "Toy Story" film, and another "Tron" flick before the end of 2026. The company's theatrical business has struggled in the wake of pandemic shutdowns and dual Hollywood labor strikes, as productions stalled and moviegoers' box-office habits shifted. All the while, Disney struggled to connect with audiences, which further exacerbated revenue woes. Since returning to the helm at Disney in late 2022, CEO Bob Iger has been working to right the ship. He's admitted that the quality of its films suffered in its bid to pump out a high quantity of entertainment content. He said brands such as Marvel, in particular, needed to be more selective about which sequels get made. Iger also said he would no longer tolerate his company

[ad_1] A Tesla showroom is seen in the City Center shopping center on January 17, 2023 in Washington, DC. Anna Moneymaker | Getty Images DETROIT — Tesla vehicles in the U.S. are seeing significant price cuts, and that's proving to be a double-edged sword for the electric carmaker and the greater automotive industry. Tesla earlier this month slashed prices of its new cars by as much as 20% , making the vehicles more affordable and likely eligible for federal tax credits . But it also tanks the resale values of cars for current owners and is sending ripple effects through the auto industry. related investing news CEO Elon Musk hasn't directly addressed the price cuts, which are counterintuitive to his claims that the company's cars will be appreciating assets — a rarity for the market aside from classics and collectible vehicles. Analysts say the price cuts suggest Tesla is prioritizing sales over profits, potentially signaling a demand problem. "There's deman

[ad_1] A United Auto Workers member on a picket line outside the Ford Motor Co. Michigan Assembly plant in Wayne, Michigan, on Sept. 15, 2023. Bloomberg | Bloomberg | Getty Images The Biden administration is no longer sending two key officials to Detroit this week to potentially help broker a deal between striking autoworkers and the Big Three car companies, a White House official told NBC News. President Joe Biden last week said he would dispatch White House senior advisor Gene Sperling and acting Labor Secretary Julie Su to support discussions between the companies and the United Auto Workers union. But the White House and the UAW mutually agreed it would be better to speak virtually via Zoom, the official said Tuesday. Sperling and Su could still go to Detroit next week but there are no firm plans for them to do so, the official added. "We'll continue to assess travel timing based on the active state of negotiations," the White House official said. Biden large

[ad_1] A panel of independent advisors to the Food and Drug Administration unanimously recommended Thursday that the antibody nirsevimab be approved for use to protect infants from respiratory syncytial virus , the leading cause of hospitalization among newborns. If the FDA approves nirsevimab, the antibody would become the first medical intervention available in the U.S. that can protect all infants from RSV . The FDA, which is not obligated to follow the recommendation of its advisory panel, is expected to make a final decision on nirsevimab in the third quarter. Nirsevimab is a monoclonal antibody made by AstraZeneca . The medication would be marketed by Sanofi . The advisory panel voted 21-0 to recommend its approval. In a separate vote, the advisors also recommended nirsevimab's use in children up to 2 years old who remain vulnerable to the virus in their second RSV season. That vote was 19-2. RSV kills nearly 100 babies in the United States every year, according to sci

[ad_1] A customer pushes a shopping cart full of groceries outside a Wal-Mart in Rogers, Arkansas, left, and a pedestrian passes a Target store in the Tenleytown neighborhood of Washington, D.C. Getty Images Target and Walmart are both catering to thriftier shoppers, but the two big-box retailers have seen very different outcomes when it comes to winning their dollars. Target missed Wall Street's sales expectations for the fiscal second-quarter. Walmart beat Wall Street's revenue estimates for the three-month period. Target slashed its forecast for the year, while Walmart raised its outlook. The companies' diverging performances illustrate some of the retailers' fundamental differences. Walmart, the nation's largest grocer, makes more than half of its annual revenue from selling groceries — a category that shoppers buy even when times are tight. Target draws only about 20% of its yearly revenue from grocery, making it rely more on sales of items such as cl

[ad_1] Gap will lay off about 1,800 employees, more than three times as many as the 500 layoffs it announced in September , as part of a broad effort to cut costs and streamline operations, the company said Thursday.  The layoffs will affect roles at Gap's headquarters locations along with upper field positions, or workers such as regional store leaders who hold leadership titles outside of a headquarters office, the company said. CNBC reported Tuesday that the company would lay off more than 500 employees. The job cuts come as the apparel retailer struggles to return to profitability while sales sag. The layoffs are expected to result in annualized savings of $300 million, Gap's interim CEO, Bob Martin, said in a statement. Gap expects to see half of those savings in 2023, and expects to complete the layoffs by the end of July, according to a securities filing. "We are taking the necessary actions to reshape Gap Inc. for the future — simplifying and optimizing our

[ad_1] Still from Universal and Dreamworks' "How to Train Your Dragon 2." Universal | Dreamworks Universal Pictures and DreamWorks Animation are taking a page out of Disney's playbook. For the last decade, the Walt Disney Company has been transforming its classic animated features into live-action theatrical and streaming features. Earlier this week, Universal said it would be doing the same for one of its own animated franchises: How to Train Your Dragon. The live-action adaptation based on the 2010 film about the friendship between a young man and his dragon is due in theaters March 14, 2025. Dean DeBlois, who wrote and directed all three films in the animated trilogy, is on tap to write and direct the live-action version. The films' story was based on the best-selling book series by Cressida Cowell. Universal's decision to translate the successful animated franchise to live action has precedent. Since 2010, Disney has released 11 theatrical live-acti

[ad_1] A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport in California on March 13, 2019. Justin Sullivan | Getty Images United Airlines said Monday that it has found loose bolts on door plugs of several Boeing 737 Max 9 planes during inspections spurred when a panel of that type blew out during an Alaska Airlines flight using that type of aircraft last week. Alaska Airlines later Monday said its initial inspections of the jets had turned up "loose hardware" and that, "No aircraft will be returned to service" until formal reviews are complete. "The safety of these aircraft is our priority and we will take the time and steps necessary to ensure their airworthiness, in close partnership with the FAA," Alaska Airlines said in a statement. The Federal Aviation Administration on Saturday grounded dozens of 737 Max 9s after the panel blew out midflight on Alaska Flight 1282. Alaska has 65 of the Max 9 planes in it