By Pete Schroeder WASHINGTON (Reuters) -U.S. bank groups on Tuesday accused the Federal Reserve and other regulators of violating federal

Dozens of cranes lift blocks weighing several tons and drop them to compact the soil of a roughly one-square-mile area on Peru’s Pacific coast, part of China’s most ambitious port project in Latin America designed to facilitate trade between the regions

Apple Inc. is issuing smaller raises to its retail employees this year, marking a deceleration from atypically large

COP28 Daily Reports: Sign up for the Green Daily newsletter for comprehensive coverage of the climate summit right

Traders on Thursday maintained bets the Federal Reserve will hold interest rates steady for three more meetings before

Rising prices have dampened demand from households and businesses in Europe's largest economy.

WASHINGTON U.S. single-family homebuilding fell in August, likely as a resurgence in mortgage rates weighed on demand for

Prime Minister Rishi Sunak says he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030

Indosat Ooredoo Hutchison is considering options for its fiber assets including a stake sale, according to people familiar

Wholesale price increases in the United States picked up slightly in July yet still suggested that inflationary pressures have eased this year since reaching alarming heights in 2022

High street fashion retailer H&M has joined other companies in charging shoppers who return items purchased online. Customers must now pay £1.99 to return parcels either in store or online, with the cost of the return being deducted from their refund. Rival high street stores including Zara, Boohoo, Uniqlo and Next already charge for online returns, with retail experts predicting that even more are likely to follow suit. During the pandemic, when online shopping inevitably soared in popularity, customers became increasingly more reliant on returning items when they did not fit. However, this also led to a rise in people buying items in bulk and returning almost all those items, some of them worn. While most online and high street retailers do not formally announce the move to charge for returns, many have introduced the change under the radar, with H&M implementing the return fee this summer. Business analysts have told the BBC that other retailers are likely to do the same. "It’s interesting that companies seem to be doing it by stealth, but it’s a sensible thing to be doing," retail expert Jonathan De Mello told the outlet. "It makes economic sense, as it discourages shoppers from bulk buying online products and then returning the majority of them. That’s been a real problem for companies." While H&M shoppers might be disappointed in the extra returns fee, added De Mello, most might understand why a company would need to make this decision, especially when it comes to the environment. Many shoppers are increasingly aware of the environmental impact of deliveries and returns, from courier vans to wasted packaging. Retail expert and analyst Natalie Berg wrote on Twitter/X that retailers have “created a monster” with free returns. “​​H&M charging for returns. Retailers have created a monster with free returns. It makes financial and environmental sense to put an end to this ‘buy to try’ mentality.” But Berg pointed out that customers who have signed up to H&M membership would be exempt from the extra fee for returning items. “This is actually a really delicate way to tier your customers,” Berg said of the membership scheme. “Slowly climb down from costly promises by limiting those benefits to loyalty members. Retailers have become too generous over the past decade. Save that generosity for your most valuable customers.” Read More Inside London’s first Vogue World: Thong leotards and Anna Wintour’s VIP assembly line Voguewashing London Fashion Week won’t pay the wages of Britain’s young fashion designers Bridesmaid who “didn’t love” her dress spends 35 years wearing it around the world Meghan Markle praised for mixing high-fashion with affordable pieces Vogue World wowed but won’t pay the wages of young fashion designers Ukrainian designers prove beauty can come from darkness at London Fashion Week

OAKLAND--(BUSINESS WIRE)--Aug 7, 2023--