Morning Business Report: Self-checkout changes, air traffic control overhaul
Target is placing new limits on its self-checkout lanes, restricting them to customers with 10 items or fewer.
(LILAMAX)- Target is placing new limits on its self-checkout lanes, restricting them to customers with 10 items or fewer. While the company denies the move is related to theft, a spokesperson told Fox News Digital that the change has been in the works for over a year and is based on internal testing that showed increased customer satisfaction. However, some retail industry experts say theft may be a driving factor. In 2023, Target reported nearly $500 million in losses from inventory shrink—up significantly from the previous year, according to Business Insider.
The Trump administration is preparing to unveil a major overhaul of the nation’s air traffic control system. Transportation Secretary Sean Duffy is expected to release a proposal this week that would modernize how the Federal Aviation Administration manages the 45,000 daily U.S. flights that carry about 2.9 million passengers. The plan includes system and facility upgrades that will require billions in funding from Congress.
Stocks climbed on Friday after a stronger-than-expected jobs report eased recession fears. The S&P 500 notched its longest winning streak in two decades as markets continued to recover from earlier tariff-related losses.
Warren Buffett has announced he will retire at the end of this year. The 94-year-old investing legend made the announcement at Berkshire Hathaway’s annual shareholders meeting in Omaha. Greg Abel, a top executive at Berkshire, is set to succeed Buffett as head of the company.
A new survey shows that most Americans plan to use their tax refunds for essential expenses—like rent and groceries—instead of luxury items. According to a study commissioned by TaxSlayer and conducted by Talker Research, nearly two-thirds of taxpayers have already spent or plan to spend their refunds, and 72% say they’ll use the money solely for necessities.
