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☆ Retail return fraud is rising as key holiday deadline approaches
▼ + stars: | 2024-01-29 | by ( Courtney Reagan | ) www.cnbc.com time to read: +5 min

As more consumers shop online and send back more of those orders, retailers have moved to crack down on fraud. Retailers expect 16.5%, or $24.5 billion worth, of holiday returns to be fraudulent this year, according to a survey by Appriss Retail and the National Retail Federation. Shipping back an empty box or a different item than was received, such as a box of bricks instead of a television, is the most common form of return fraud, according to Pitney Bowes' Ramachandran. Zoom In Icon Arrows pointing outwards Source: Appriss Retail/National Retail FederationReturn abuse is more commonThere's also less egregious behavior, often considered return abuse rather than fraud. More than half, or 56%, of consumers confess to "wardrobing," according to a survey from fraud prevention firm Forter.

Persons: it's, Vijay Ramachandran, Pitney, we've, Michael Osborne, Marc Metrick, That's, Pitney Bowes, Ramachandran, fraudsters, Osborne, Doriel Abrahams, Abrahams, Jeff Greenberg Organizations: Pitney Bowes, Retailers, Appriss Retail, National Retail Federation, Appriss, Saks, Shipping, CNBC, National, Federation, Ikea, Universal, Getty Locations: Doral , Miami

The Canadian pension funds have benchmarked their investments to that level, according to the presentation. Australian pension funds have invested about 50% of their total assets in domestic equities, according to the presentation. China Investment Corp is Teck's single-biggest institutional investor with a 10.3% stake, and Norway's wealth fund, Norges Bank, owns 1.52%, while Canadian pensions together hold 0.78% stake, according to Refinitiv data. All other pension funds did not respond to Reuters request for comments. Canadian pension funds represent 30% of the total financial savings of Canadians.

[1/2] Ethernet cables are seen in front of Rogers and Shaw Communications logos in this illustration taken, July 8, 2022. Rogers' deal for Shaw was politically sensitive due to the sky-high wireless bills Canadians pay, which are among the highest in the world. Yet, the competition bureau failed to block the merger, losing their protracted battle when a federal court dismissed the case. Now, dealmakers worry the government could intervene in other politically sensitive M&A. "There are not a lot of things people in competition law disagree on.

☆ Rogers-Shaw on cusp of final nod for protracted C$20 bln deal
▼ + stars: | 2023-01-25 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

The bureau late on Tuesday accepted the verdict of the Federal Court of Appeal (FCA) and said it would not pursue an appeal. Its decision is widely seen as paving the way for the C$20 billion ($14.98 billion) transaction to clear ahead of its Jan. 31 deadline. It now awaits final clearance from Industry Minister François-Philippe Champagne, who has previously expressed support for the transaction if certain conditions are met. The House of Commons industry committee in March said the deal should not proceed, though, its recommendations are non-binding. Rogers-Shaw have agreed to sell Freedom Mobile, a wireless business owned by Shaw, to Quebecor Inc (QBRb.TO) in order to alleviate competition concern.

☆ Canada judge calls into question regulator's argument to block Rogers-Shaw deal
▼ + stars: | 2023-01-24 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

TORONTO, Jan 24 (Reuters) - A Canada federal judge called into question the competition bureau's argument to block Rogers Communications Inc's (RCIb.TO) C$20 billion ($14.9 billion) bid for Shaw Communications Inc (SJRb.TO) as the court hearing kicked off on Tuesday. But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. "According to the tribunal, this was not a particularly close case," the judge told the court on Tuesday. "I think the appeal is going to be dismissed," said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. A spokesperson for the competition bureau declined to comment while the matter was before the court.

☆ Rogers-Shaw, Canada regulator to duke it out in federal court over C$20 bln bid
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +3 min

But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. Rogers offered to sell Shaw's Freedom Mobile unit to Quebecor's (QBRb.TO) Videotron for C$2.85 billion to address anti-competition concerns, but the competition bureau argued that a merged Rogers-Shaw would not have a viable competitor in Quebecor. "I think the appeal is going to be dismissed," said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. For that reason, I think the Court of Appeal will make sure to do it in time for the parties to close." A spokesperson for the competition bureau declined to comment while the matter was before the court.

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