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Fox News
20 hours ago
- Business
- Fox News
Business Rundown: NVIDIA Soars & China Trade Tensions Flare
Back-to-back court decisions resulted in uncertainty ahead of the Trump tariffs. As trade negotiations reportedly stall, the President, on social media Friday morning, called out China for 'totally violating' our trade agreement. A bright spot this week in the market has been NVIDIA, whose stock soared off reports its earnings beat expectations, showing immense growth potential. FOX Business anchor Taylor Riggs is joined by Slatestone Wealth chief market strategist Kenny Polcari to break it all down. Photo Credit: AP Learn more about your ad choices. Visit
Fox News
3 days ago
- Business
- Fox News
Evening Edition: Elon Musk Says Spending Bill ‘Undermines' DOGE
Elon Musk, former DOGE head and major supporter of President Trump, says he is 'disappointed' by the cost the 'one big, beautiful bill' passed by Republicans in the House last week. The 'One Big Beautiful Bill Act' passed 215 to 214 in the House but with all Democrats and two Republicans voting against the bill. Republicans feel the the bill is a victory for President Trump that delivered key campaign promises, including extending his 2017 tax cuts. FOX's Ryan Schmelz speaks with Grady Trimble, Washington correspondent focused on legislation, big tech and business policies for FOX Business Network (FBN), who says the two endeavors maybe at odds with each other but the spending cuts will continue. Click Here To Follow 'The FOX News Rundown: Evening Edition' Learn more about your ad choices. Visit
New York Post
3 days ago
- Business
- New York Post
How shoppers are exploiting return policies — and costing retailers billions
Shoppers are increasingly exploiting return policies with various scams to defraud companies, and it is costing retailers billions. While retailers have tried to mitigate returns, they amounted to $743 billion in 2023. Of that, about $101 billion was fraudulent, according to the National Retail Federation. This problem is getting more sophisticated as shoppers grow increasingly duplicitous, such as returning empty boxes, using fake or altered receipts, or ripping key components from electronics before returning the item. The challenge for retailers is how to crack down and limit return polices without alienating customers. Blue Yonder's 2024 Consumer Retail Returns Survey found that more than 90% of respondents admitted that a lenient return policy influences their buying decisions. Additionally, stricter policies are deterring many shoppers, particularly Gen Z and millennials, from making purchases at all. Arun Sundaram, vice president and senior equity analyst at CFRA Research, told FOX Business that return fraud remains an issue for retailers, particularly because of the 'growth of e-commerce and the flexible return policies that often come with it.' 4 Shoppers are increasingly exploiting return policies with various scams to defraud companies, and it is costing retailers billions. Getty Images This type of fraud not only puts pressure on margins but disrupts inventory planning and drives up operating costs, according to Sundaram. 'In recent years, we've seen many retailers ramp up investments in data and analytics to detect patterns and flag suspicious return activity. Still, striking the right balance between preventing fraud and keeping a positive customer experience is an ongoing challenge,' Sundaram added. Gaurav Saran, CEO of told FOX Business that companies started offering competitive return policies such as free returns and 30- or 60-day return policies as shoppers became more reliant on online shopping. In turn, it encouraged more shoppers to buy from the brand, but it also paved the way for a select few to take advantage of the situation. 4 This problem is getting more sophisticated as shoppers grow increasingly duplicitous, such as returning empty boxes, using fake or altered receipts, or ripping key components from electronics before returning the item. Christopher Sadowski 4 In some cases, customers will return an empty box, claiming the item was missing when they received it. This is known as the 'empty box' scam. AFP via Getty Images One of the most common scams, according to Saran, is 'wardrobing.' Consumers purchase clothing with the intent of returning it after they use it. The issue with this type of fraud is it can be difficult to detect, though it is one of the most common problems that clothing retailers have, according to website. In some cases, customers will return an empty box, claiming the item was missing when they received it. This is known as the 'empty box' scam. Retailers that don't weigh packages before processing returns may not notice the fraud until after the customer has already been refunded, according to Saran. Another tactic his company has noticed is called 'bricking.' This is when someone removes key components from electronics before returning the item. While the product looks intact on the outside, it is useless. Retailers that don't check returned items carefully can end up selling worthless goods. 4 If there appears to be fraudulent activity, the company will be notified and can adjust its return policy specific to a customer. Getty Images Saran's developed an end-to-end return management system to mitigate these crimes by helping companies configure return processing and even handle repairs. It helps companies ensure that what a customer said they were going to return and the condition they are returning it in are in line with the return policy. If there appears to be fraudulent activity, the company will be notified and can adjust its return policy specific to a customer. He works with various companies, including Brooks, Wilson, and Samsonite.
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin hovers near record high as investors flock to crypto safe haven amid geopolitical uncertainty
Bitcoin's rally is rolling on, with its price sitting near a record high as investors are piling into the cryptocurrency amid a storm of global economic uncertainty, a downgrade of U.S. debt and growing confidence in the forthcoming regulation of digital assets. At the heart of this surge are several powerful catalysts, according to analysts and executives gathered at this year's Solana Accelerate Conference. Among the top reasons for the rally: bitcoin's rising status as a safe haven asset, mounting geopolitical instability and a wave of institutional adoption. "Bitcoin is starting to behave as a safe haven asset, and there's more and more instability in the world," said Chainlink co-founder Sergey Nazarov. "For the first time now, it's starting to get decoupled from tech stocks. So, if you wanted to choose a second safe haven asset after gold, bitcoin would now be a logical choice." Johann Kerbrat, senior vice president of Robinhood Crypto, echoed this sentiment, telling FOX Business that "people see bitcoin as a reserve as well. And so, when there is a bit of instability in the market or in the globe, they actually use bitcoin as a reserve currency." Adding fuel to the rally: optimism that meaningful crypto legislation is finally within reach. Momentum is building in Congress, with both chambers considering key regulatory frameworks for stablecoins – digital currencies pegged to traditional assets like the U.S. dollar – and market structure bills that would define how digital assets are traded and held. Read On The Fox Business App Jpmorgan Ceo Jamie Dimon Clears Bitcoin For Bank "I think in 10 days we will have it completed and through the Senate," Sen. Bill Hagerty, R-Tenn., said last week, referring to the GENIUS Act – short for "Guiding and Establishing National Innovation for U.S. Stablecoins." Rep. French Hill, R-Ark., a leading voice in House crypto policy, told FOX Business, "We have no rules on this. And so these are significant, because if we have rules about a payment stablecoin and a market structure bill... then money will come back to the U.S., innovation will come to the U.S., and we'll be the No. 1 fintech digital assets country in the world. That's what I want to do." Hill also emphasized the urgency and strategic importance of moving forward before lawmakers break for the summer. "We're looking forward to the Senate passing the GENIUS Act, seeing what it contains, how it's structured, and how we can work together to get to the president's desk a dollar-backed stablecoin before the August recess," he said. Kristen Smith, president of the Solana Policy Institute, added that support for crypto policy is cutting across party lines. "It's a bipartisan issue," Smith said. This isn't something that only Republicans or only Democrats care about. This is really an American issue. And I think that that is starting to translate into the markets with some comfort that our economy is stabilizing, that the policies are coming into place, and that this is an opportunity for growth in the crypto industry from here going forward." Us Solidifying Itself As Bitcoin Mining Hub Cryptocurrency has also made its way to the top levels of the Trump administration, with Vice President JD Vance heading to Las Vegas to deliver the keynote address at this year's Bitcoin Conference on Wednesday. Further highlighting the mainstreaming of crypto, a dozen U.S. bitcoin exchange-traded funds (ETFs) have attracted robust inflows, with investors pumping in about $4.2 billion so far in May. This surge in institutional interest marks a major shift in how traditional investors approach digital assets, viewing them less as speculative bets and more as components of diversified portfolios. Meanwhile, The Wall Street Journal reports that major U.S. banks are exploring partnerships with crypto firms to issue a joint stablecoin. The move comes amid growing concerns that private sector stablecoins could start to siphon off customer deposits and reshape how money moves across the financial system. "I think the banks want to be part of that payment space," Hill added. "Banks have moved to real-time payments now… I think you can also predict in the future that we'll have 24-hour-a-day, seven-day-a-week, tokenized transactions in securities or in payments." With the global financial system in flux, regulatory clarity on the horizon and institutional investors entering the fold, bitcoin's breakout could be just the beginning of a broader transformation of how value is stored and moved. Whether bitcoin becomes the digital gold of the 21st century or something altogether different remains to be seen. But one thing is clear: the crypto world is no longer on the fringe – it's front and article source: Bitcoin hovers near record high as investors flock to crypto safe haven amid geopolitical uncertainty
New York Post
22-05-2025
- Business
- New York Post
Popular gas station chain to open first-ever locations in new states
The world's largest convenience store and gas station, Buc-ee's, is growing its already massive following with several new locations set to open this summer. The beloved Texas-based chain – known for its exceptionally clean restrooms, house-made food and beaver-branded merchandise – is set to open three new travel centers, including its very first locations in Virginia and Mississippi, Buc-ee's confirmed to FOX Business. Buc-ee's grand openings are scheduled for the following: Harrison County, Mississippi – June 9, 2025 Rockingham County, Virginia – June 30, 2025 Brunswick, Georgia – July 1, 2025 The Virginia center in Rockingham County, about 2.5 hours west of Washington D.C., by car, will become Buc-ee's most northeast location in the U.S., opening the brand to a new customer base previously unfamiliar with its massive convenience stores. 3 MelissaMN – 'Thank you Buc-ee's for choosing Rockingham County for your first Virginia location that is slated to open in mid-2025,' the county said in a social media post in early 2024. The center will span 74,000 square feet, roughly 1.5 times the size of a football field, according to Rockingham County. It will also include over 120 fueling stations, 600 parking spaces and 20 electric vehicle charging stations. Virginia Gov. Glenn Youngkin previously welcomed the new location when the project began in early 2024. 3 The Virginia center in Rockingham County, Virginia, will become Buc-ee's most northeast location in the U.S. Tada Images – 3 The other two locations will be in Harrison County, Mississippi, and Brunswick, Georgia. Tada Images – 'Virginia is proud to welcome @bucees to the Commonwealth!' Youngkin said in a post on X. 'Today's groundbreaking represents 200 jobs and an investment of more than 60 million dollars in Rockingham County. I look forward to stopping by for some Beaver Nuggets soon!' Local reports said the Buc-ee's center in Mississippi will also expand 74,000 square feet, employ 200 residents and include 100 gas pumps and 20 electrical vehicle charging stations. Brunswick's new center will become the Peach State's third Buc-ee's. It will be located five hours southeast of Atlanta.
