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☆ Big changes could be coming to the way we pay for things
▼ + stars: | 2024-03-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're examining how a change in credit cards' behind-the-scenes fees impacts you… and your points . Under the settlement, merchants could charge customers more for using different cards despite being part of the same Visa or Mastercard network. AdvertisementTim Boyle/Getty Images; Jenny Chang-Rodriguez/BIThe agreement could ultimately reshape how consumers pay for things. AdvertisementPerhaps that's why one analyst told Business Insider's Alex Bitter he doesn't expect major retailers to pass swipe fees along to customers. But maybe, not unlike the fees the agreement targets, what seems small could eventually add up to something big.

Persons: —, Jenny Chang, Rodriguez, Insider's Grace Eliza Goodwin, Tim Boyle, David Morris, Alex Bitter, LUDOVIC MARIN, BlackRock's Larry Fink, Jeremy Grantham, Ian Shepherdson, That'll, We've, Meta, Mark Zuckerberg, Facebook execs, Francis Key Scott, Hunter Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Nickelodeon, Business, Mastercard, Visa, Getty, Fed, Amazon, BI Locations: Europe, LUDOVIC, Baltimore, Port, New York, London

☆ Credit-card points might be entering a new era
▼ + stars: | 2024-03-26 | by ( Dan Defrancesco | Alex Bitter | ) www.businessinsider.com time to read: +4 min

Visa and Mastercard settled a dispute with US retailers over credit-card swipe fees. AdvertisementOne of the great American pastimes — using your credit card to accumulate points — could be about to change. On Tuesday, Visa and Mastercard settled with US retailers over a longstanding dispute tied to credit-card swipe fees. But the points game can be one of fine margins, and a change to interchange fees could have ripple effects for rewards programs. Don't be surprised if it starts taking a lot longer to rack up the points required for your next getaway.

Persons: Banks, —, they'd, David Morris, Morris, David Silverman Organizations: Visa, Mastercard, Service, JPMorgan Chase, Bank of America, Bloomberg, Chase, National Retail Federation, Retail Industry, Association, Credit, Fitch Locations: bodega, It's, eMarketer

☆ Why we don't actually know whether retail theft is a big problem
▼ + stars: | 2024-03-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

But a new report suggests we don't know whether organized retail crime is a big problem or not. "Organized retail crime," "retail theft," and similar terms don't correspond with categories that local police departments use to categorize crimes, Hanna Love, a fellow at Brookings, told Business Insider. It's unclear what makes organized retail crime "different than, say, other instances of shoplifting" from a data perspective, Love said. The NRF has said that it took back the estimate due to an error by an outside analyst who contributed to its report on organized retail crime. About fourteen states passed new laws on retail theft in 2022 and 2023, Stateline reported in December.

Persons: —, Hanna Love, Love, James Kehoe, William Blair, Target's, it's, Sebastian, Stateline Organizations: Walmart, Walgreens, Service, Target, National Retail Federation, Brookings Institution, Brookings, Retail, The New York Times Locations: States, Brookings, San Francisco, Indiana, Fairfax , Virginia

☆ Frankenstein restaurants like a Taco Bell-Pizza Hut combo are popping up everywhere
▼ + stars: | 2024-03-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementIn 2008, Hip Hop trio Das Racist caught the attention of the internet with their song "Combination Pizza Hut and Taco Bell." Its most recent dual-branded restaurant opening was in Leon, Mexico, and the company is contemplating opening more in the US, CEO John Peyton said. The 2002 annual report for Yum Brands, the parent company of Pizza Hut, Taco Bell, and KFC, among other restaurant chains, lays out why the much-memed combination Taco Bell-Pizza Hut existed in the first place. In the past, some restaurant brands have put together brands that don't complement each other, said Rob Seely, associate vice president of operations, strategy, and design at WD Partners, which advises restaurant brands. Do you work at a major restaurant like McDonald's, Pizza Hut, or Taco Bell and have a story idea to share?

Persons: —, Bell, It's, John Peyton, Dine, Payton, Peyton, Das, Taco Bell, David Novak, Novak, Yum, Frankenrestaurants, hasn't, Long John Silver, John Silver, Long John Silver's, Rob Seely, Seely, Taco Organizations: Service, Dine Brands, Yum Brands, KFC, Bell, Brands, Darden, Business, WD Partners, Taco Bell Locations: Leon , Mexico, Applebee's, IHOP, Pizza, Taco, Kentucky

☆ A viral TikTok is igniting a debate over data centers taking over Virginia's countryside
▼ + stars: | 2024-03-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

But a viral TikTok shows that some people aren't happy about what the giant structures are replacing in Northern Virginia. Related storiesOthers pointed out the irony of posting about the issue on a social media platform powered by data centers. Data centers are popping up thanks to billions of dollars of investment and the AI boom. In Loudon County, roughly a 45-minute drive from DC, some residents say they can hear a constant hum from all the data centers in the area. AdvertisementDo you live or work in Northern Virginia or another part of the US where data centers have altered life?

Persons: —, @claireecowles, suara, commenter, they're Organizations: Service, Business, Northern, Northern Virginia Technology Locations: Northern Virginia, Shenandoah, Washington, Virginia, NoVa, Loudon County

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, he's trying to turn the company around by stepping up for a second stint at its helm. The sportswear brand said March 13 that Plank will take over its CEO role again more than four years after he left the position. The company has also struggled to define itself against competitors — most notably Nike.

Persons: Armour, —, Kevin Plank, Plank, Stephanie Linnartz, Armour wasn't Organizations: Service, Nike, Armour

☆ Frankenstein restaurants are popping up everywhere, but they aren't actually that successful
▼ + stars: | 2024-03-23 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementIn 2008, Hip Hop trio Das Racist caught the attention of the internet with their song "Combination Pizza Hut and Taco Bell." Its most recent dual-branded restaurant opening was in Leon, Mexico, and the company is contemplating opening more in the US, CEO John Peyton said. Related storiesSo Yum turned to Frankenrestaurants — like the combination Pizza Hut-Taco Bell — to offer a wider variety of options under one roof. Major restaurant brands also frequently change ownership, making it hard to decouple multi-branded locations if a company decides to sell one. In the past, some restaurant brands have put together brands that don't complement each other, said Rob Seely, associate vice president of operations, strategy, and design at WD Partners, which advises restaurant brands.

☆ Ben & Jerry’s is set to be spun off from Unilever. Here’s how the company’s founding duo built an ice cream empire from an old gas station.
▼ + stars: | 2024-03-22 | by ( Joey Hadden | Alex Bitter | ) www.businessinsider.com time to read: +1 min

Unilever said Tuesday that it will spin off its ice cream brands, including Ben & Jerry's. It's the latest change for Ben & Jerry's, which was founded by two childhood friends from Long Island. Here's the story of Ben & Jerry's, from a gas station in Vermont to global distribution. While many companies keep away from social issues, Ben & Jerry's has made weighing in part of its strategy. Now, Unilever is reportedly planning to spin off Ben & Jerry's, plus other ice cream brands, such as Magnum.

Persons: Jerry's, Ben, —, George Floyd, Ben Cohen, Jerry Greenfield Organizations: Unilever, Ben, Service Locations: Long, Vermont

☆ I Went to Aldi and Saw Why the Discount Grocer Is Booming in the US
▼ + stars: | 2024-03-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

German grocer Aldi is planning to add hundreds of stores to the thousands it already has in the US. The chain focuses on keeping costs and prices low, making it popular as food remains pricey. I visited an Aldi store to see why the supermarket brand is expanding so fast. Now, Aldi is planning to open 800 more locations over the next four years, bringing its store count in America to 3,200. AdvertisementI decided to head to an Aldi store in Maryland, near Washington, DC, to see what it's like to shop at the fast-growing supermarket.

Persons: —, Aldi didn't Organizations: Aldi, Service Locations: America, Maryland, Washington

☆ Dollar General is taking a key strategy from Costco as it aims to lower costs
▼ + stars: | 2024-03-21 | by ( Dominick Reuter | Alex Bitter | ) www.businessinsider.com time to read: +5 min

Dollar General is sharply reducing the selection of products it sells in order to cut costs. The discounter previously stocked about 12,000 unique items, referenced by SKUs. AdvertisementSome Dollar General shoppers may see their favorite items disappearing from shelves as the discount retailer looks to control inventory costs. The move inches Dollar General closer to Costco's time-tested strategy for finding savings through simplicity — the wholesale club famously keeps its SKU count to around 4,000 in its warehouses. Last summer, Dollar General took a $95 million inventory write-down as it cleaned those stores up.

Persons: SKUs, —, Todd Vasos, there's, Neil Saunders, Vasos, didn't, Gina Goetter Organizations: Costco, Service, Walmart, Aldi, Hasbro

☆ I shopped at Family Dollar and saw why the chain is struggling and shuttering stores
▼ + stars: | 2024-03-20 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

About 1,000 Family Dollar stores will close in the coming years, parent company Dollar Tree said this month. I went to a Family Dollar store and found lots of theft deterrents plus higher prices than nearby grocery stores. The chain will close about 1,000 stores in the coming years, parent company Dollar Tree said last week. That's about 13% of all Family Dollar stores in the US. Dollar Tree executives pointed to several reasons for closing the stores on last week's earnings call.

Persons: —, Tree Organizations: Service, Dollar, Business

☆ I quit delivering for apps like DoorDash to build my own 200-driver business. It's rewarding but tough.
▼ + stars: | 2024-03-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

In 2019, Urias-Roy and her husband started URATX, a delivery service based in Austin that uses independent contractors for large food deliveries, such as catering orders. The problem these stores had was that they were getting a lot of business orders, but drivers weren't equipped to handle it. That basically allowed me to start a delivery business instead of working as a contractor for the big apps or local delivery services. It's lower now though because we recently lost our biggest partnership with a major catering delivery company. AdvertisementAnd so the best thing about it is that I don't have drivers confronting restaurants about tips, I don't have drivers confronting clients begging for tips.

Persons: Moumita Urias, Roy, URATX, we've, we're, there's Organizations: Service, Business, Amazon Flex Locations: Austin, Urias, Canada, we're, Texas, Arizona, Russian

☆ Dollar General is taking checkout back out of your hands because of theft
▼ + stars: | 2024-03-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Dollar General is pulling self-checkout options out of 300 stores. The dollar store is also getting employees involved again at thousands more. AdvertisementRival dollar store chain Dollar Tree said Wednesday that it would close 1,000 stores under its Family Dollar brand, citing theft as one of the factors it considered when deciding which stores to close. Since then, Dollar General has used AI to evaluate its self-checkouts, he said. AdvertisementDo you work at Dollar General, Dollar Tree, or Family Dollar and have a story idea to share?

Persons: —, Todd Vasos, Vasos, isn't Organizations: Service, Walmart, Dollar Locations: reassessing

☆ Facial recognition tech is widespread now, but still might not recognize you
▼ + stars: | 2024-03-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Facial recognition frequently misidentifies people of colorMIT Media Lab researcher Joy Buolamwini found that facial recognition technology misidentified black women up to 35% of the time, the New York Times reported in 2018. When fewer photos of people from other racial and gender groups are used, facial recognition tech is less accurate at identifying people of those backgrounds, the study said. In some cases, it's possible to opt out of using facial recognition technology — and its high error rate. But sidestepping facial recognition often isn't possible, said Gideon Christian, a law professor at the University of Calgary who has written about the legal and societal aspects of facial recognition technology. AdvertisementThe FTC banned Rite Aid from using facial recognition technology in stores for five years as a result.

Persons: —, Spark, Joy Buolamwini, shoplifters haven't, Gideon Christian, Samuel Levine, Christian Organizations: Service, TSA, Business, MIT Media, New York Times, MIT Technology Review, Walmart, CBP, University of Calgary, FTC, FTC's, Consumer Protection, Rite Aid Locations: India

☆ Theft just keeps getting worse for Dollar Tree
▼ + stars: | 2024-03-13 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Dollar Tree says theft will remain a problem at its stores well into 2024. Dollar Tree is closing about 1,000 Family Dollar stores, it also said Wednesday, a result of a review of the brand that has been months in the making. Theft was one of many factors that Dollar Tree considered when it decided which locations to close, the executives said. Last year, Dollar Tree locked some items up and put others behind checkouts to deter would-be shoplifters. Do you work at Dollar Tree, Family Dollar, or Dollar General and have a story idea to share?

Persons: —, Richard Dreiling, Jeffrey Davis, Davis, Dreiling Organizations: Service

☆ Instacart, DoorDash, and other delivery service customers say their accounts were deactivated because of innocent mistakes
▼ + stars: | 2024-03-12 | by ( Alex Bitter | ) www.businessinsider.com time to read: +7 min

Some customers of Instacart, DoorDash, and other delivery services have had their accounts randomly deactivated. Other delivery customers have similar stories. Instacart's website says that customers' accounts can be deactivated "due to potential fraud or other risks." "In accordance with our Community Guidelines, Instacart can deactivate customer accounts in cases of suspected fraud," an Instacart spokesperson said. AdvertisementDo you work for or use Instacart, DoorDash, Uber Eats, Walmart Spark, or another gig delivery app and have a story idea to share?

Persons: —, Ryan Ladd, Ladd, rancid, Uber, Instacart Organizations: Service, Costco, Facebook, BI, Walmart Locations: Instacart, Denver , Colorado, South Carolina, Denver

☆ Gig workers face a savings crisis for retirement
▼ + stars: | 2024-03-09 | by ( Alex Bitter | Tim Paradis | ) www.businessinsider.com time to read: +6 min

AdvertisementSome gig work services are offering a perk usually associated with traditional jobs: retirement savings accounts with matching contributions. Alexandrea Ravenelle, an assistant professor in sociology at the University of North Carolina, Chapel Hill, told BI she would like to see gig workers classified as employees of the platforms, not independent workers. Ravenelle said a better plan would be for companies to extend similar types of retirement benefits to gig workers as employees of those companies enjoy. The Robinhood program also offers gig workers on these platforms access to free financial counseling through GreenPath Financial Wellness, a nonprofit. AdvertisementSergio Avedian, a Los Angeles-based industry advocate for gig workers who drives for an app himself, often encourages gig workers to set aside money for retirement.

Persons: Robinhood, —, Alexandrea, Hill, Ravenelle, Robinhood —, Doordash, Morgan Courtney, Courtney, Taskrabbit, Steve Quirk, they'll, Quirk, Sergio Avedian Organizations: Service, University of North, Financial, Workers Locations: University of North Carolina, Los Angeles, Idaho

☆ Costco says it's actually cutting prices on some products as inflation stabilizes
▼ + stars: | 2024-03-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Costco cut prices on frozen berries, reading glasses, and other products this year. The retailer wants "to be the first out there trying to lower prices," CFO Richard Galanti said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBerries, batteries, and reading glasses are among the items that cost less at Costco now thanks to a slowing rate of inflation. The retailer recently cut some of the prices at its warehouses, CFO Richard Galanti said during an earnings call late Thursday.

Persons: Richard Galanti, — Organizations: Costco, Service, Kirkland, Business

☆ A Jeff Bezos-backed startup and Oscar Mayer want to charge you a lot more for a meatless hot dog than a meaty one
▼ + stars: | 2024-03-07 | by ( Grace Dean | Alex Bitter | ) www.businessinsider.com time to read: +1 min

Hot-dog giant Oscar Mayer is entering the plant-based industry with vegan hot dogs and sausages. They're set to cost between 40% and 60% more than the brand's traditional hot dogs, Bloomberg said. Lowering on-the-shelf prices has been a persistent challenge for plant-based meat makers. The company is launching non-animal-meat hot dogs and sausages at retailers nationwide in the US later this year, and they're set to cost between 40% and 60% more than the brand's traditional hot dogs, Bloomberg reported. A bun-length four-pack of Oscar Mayer NotHotDogs has a suggested retail price of $5.99, a spokesperson for the Kraft Heinz Not Company told Business Insider.

Persons: Oscar Mayer, —, Oscar Mayer NotHotDogs, Kraft Heinz Organizations: Bloomberg, Service, Kraft, Company, Business Locations: Washington ,

☆ Why is a South American beer brand going viral? The answer's simple: Star Wars
▼ + stars: | 2024-03-06 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

In 2003, the brand edited ads into a broadcast of the Star Wars trilogy. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe latest brand getting attention on social media isn't Stanley — it's a South American beer creatively edited into a Star Wars broadcast 20 years ago. On X, formerly known as Twitter, users started sharing clips from the original Star Wars trilogy last week. The clips look normal — until a bottle or can of Cerveza Cristal beer suddenly appears in the shot.

Persons: —, isn't Stanley — it's, Cristal, Obi, Wan Kenobi, Luke Skywalker, Wan, 🛸, ," the Organizations: Wars, Service, Star Wars Locations: American, Chile, pic.twitter.com

☆ Some Walmart stores are limiting self-checkout lanes just for Spark drivers and Walmart+ customers
▼ + stars: | 2024-03-04 | by ( Dominick Reuter | Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewYou might need an app on your phone to use self-checkout during your next trip to Walmart — the lanes might be one reserved for the retailer's Spark delivery drivers or Walmart+ subscribers. Drivers with the company's Spark delivery platform told Business Insider they've seen the limited kiosks at their stores, and photos showing cordoned-off lanes have been cropping up on social media over the past few weeks. At these stores, shoppers need to use the full-service lanes unless they're buying for themselves using the Walmart app's scan-and-go feature or for someone else using the Spark app. A Spark driver in California told BI that designated lanes for Spark drivers showed up at a store there at the end of February. Requiring shoppers to log in to an account before using self-checkout could help stem some of those losses.

Persons: —, they've, Joe Pennington, Pennington, they're, abitter@businessinsider.com Organizations: Service, Walmart, Business Locations: California

☆ Whole Foods is launching mini-stores for quicker shopping trips
▼ + stars: | 2024-03-04 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Called "Whole Foods Market Daily Shop," they'll be a fraction of the size of a normal Whole Foods. Called "Whole Foods Market Daily Shop," they'll take up between 7,000 and 14,000 square feet, Bloomberg reported on Monday. People want things fast," Christina Minardi, executive vice president of growth and development at Whole Foods Market and Amazon, told Bloomberg. A rendering of the produce section at a Whole Foods Market Daily Shop store. It also aimed to be more affordable than mainline Whole Foods stores by focusing on Whole Foods' own-brand products.

Persons: It's, —, they'll, Christina Minardi, Andy Jassy Organizations: Amazon, Service, Bloomberg, Foods, Shop, Daily Locations: New York City

☆ I left apps like Uber Eats to start my own delivery business. I love connecting with people and not having to rush around
▼ + stars: | 2024-03-02 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

But in January, he started "Tony Delivers" and brings people their food using his own system. Working as "Tony Delivers" has allowed him to interact with more people than on gig apps, he said. Customers order their food from a restaurant for takeout, then text Tony their order for delivery. I was talking with one of my buddies about working for the delivery apps, and he was like "What if you just cut out the middleman?" Often, gig delivery work has no growth.

Persons: Tony Illes, Tony, —, Illes, didn't, I'm, I've, It's, we'll Organizations: Service, Google Locations: Seattle

☆ I worked in a call center for Walmart Spark workers. I got reprimanded for giving drivers tips they had earned, and most calls were frustrating and scripted
▼ + stars: | 2024-02-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

This as-told-to essay is based on a conversation with Dominique Anderson, a former resolution coordinator in North Carolina who fielded support calls from Walmart Spark drivers. I worked at what they call "Tier 2" for Spark support. There were a few reasons why Spark drivers would call our support line. Some people would also call in about the Spark drivers using multiple accounts. AdvertisementA Walmart spokesperson told BI: "Our driver support agents are invaluable, and they provide tremendous support to drivers on the Spark Driver platform.

Persons: Dominique Anderson, It's, I've Organizations: Service, Walmart, Business Locations: North Carolina, Virginia

☆ Rite Aid is planning to close 77 stores in 2024. See if yours is on the list.
▼ + stars: | 2024-02-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Rite Aid is planning to close 77 stores in 2024 as part of its Chapter 11 bankruptcy. Rite Aid has been shrinking its store count for years, losing ground to rivals Walgreens and CVS. AdvertisementMore Rite Aid stores are closing around the US as part of the retailer's voluntary bankruptcy. That adds to locations that the company previously said it would shutter, including about 150 Rite Aid stores that closed last fall. Since the drugstore chain filed for Chapter 11 bankruptcy in October, Rite Aid said it would close 431 stores, Masslive.com reported.

Persons: — Organizations: Walgreens, CVS, Service, Aid, Rite Aid, Business

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