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Form 13D/A Venus Concept For: 27 March

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Costco overhauling checkout with new automated pay stations, CFO says

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Costco overhauling checkout with new automated pay stations, CFO says

Your Costco run is about to get a lot faster.

The warehouse giant is reportedly overhauling its checkout process, piloting new automated stations that promise to process orders in under 10 seconds. By blending employee productivity with high-speed tech, Costco is betting it can solve the retail industry’s biggest headache without losing the low-cost model that keeps its members loyal.

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“In digital, we continue to make strides with our roadmap to deliver a more seamless experience for members in warehouse and online. In the warehouses, we are achieving meaningful improvements in the speed of checkout and employee productivity, both as a result of our mobile wallet enhancements, pharmacy pay ahead and the rollout of employee pre-scan technology,” Costco CFO Gary Millerchip said in the company’s second-quarter earnings call earlier this month.

COSTCO ENTERS FERTILITY CARE WITH MASSIVE DISCOUNTS FOR MEMBERS THROUGH NEW HEALTHCARE PARTNERSHIPS

Under new CEO Ron Vachris and Millerchip, the warehouse club is pivoting from its traditional checkout roots to a high-tech pre-scan model and automated pay stations. At first, employees will expedite the pre-scanning process before customers reach the register.

Costco self checkout area with customers

Shoppers at the self-checkout inside a Costco store in Napa, California, on Monday, Sept. 22, 2025. (Getty Images)

Costco has previously tested self-checkout at select stores, but the system did not appear to stick.

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“We are also piloting automated pay stations that will allow members to pay for their pre-scan orders seamlessly with an average transaction time of around eight seconds,” Millerchip added. “Early results show this is improving the flow of traffic, and we have received great member feedback.”

Leadership also discussed embracing AI and e-commerce shifts on the call that rivals have used to dominate the convenience shopping market.

“On our digital sites, we continue to roll out new personalization capabilities which are resonating well with our members and are starting to have measurable impact on e-commerce sales growth. As consumers embrace AI in their shopping habits, we believe our commitments to providing the best value on great quality items can make us a beneficiary of these shifts,” the CFO said.

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New data from the NCR Voyix Digital Commerce Index reveals a generational divide in how Americans want to pay at the register. While 43% of all consumers now prefer self-checkout options, 53% of shoppers aged 18 to 44 prefer the DIY method, while those 55 and older stick to manned lanes, citing large cart volumes as the primary reason for avoiding self-checkout.

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While many big-box retailers have passed on inflationary costs to consumers in recent years, Costco has maintained its popularity with middle-class Americans due to its roughly 14% to 15% cap on product margins. Traditional grocers typically have a 25% to 35% product margin, making Costco’s prices highly competitive.

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Costco’s net sales surged 9.1% to $68.24 billion in the second quarter, with net income hitting $1.36 billion — a 13.6% increase year over year following a membership price hike.

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IRS’ ‘Where’s my refund?’ tool lets you track your tax refund status online

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IRS' 'Where's my refund?' tool lets you track your tax refund status online

Tax season is in full swing as the deadline to file or request an extension is less than three weeks away, and some Americans who have already filed their returns are waiting to receive a refund from the IRS.

Nearly 70 million taxpayers filed their returns as of March 13, and most taxpayers can expect to receive their tax refund within three weeks of filing their return. The IRS has a tool taxpayers can use to track the status of refunds.

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The IRS’ “Where’s my refund?” tool allows users to view whether their return has been received, if the tax refund has been approved and sent to the taxpayer via direct deposit.

Taxpayers need their Social Security number or taxpayer identification number, filing status, tax year and the exact amount of their federal refund from the tax return they want to check.

HERE’S WHEN TAXPAYERS WILL GET THEIR REFUNDS

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Taxpayers can check on the status of their federal tax refund using the IRS’ “Where’s my refund?” tool. (iStock)

The tool informs taxpayers when their refunds have been sent to their banks via direct deposit. It also says that if their refund hasn’t been credited to their account by a specific date, they should check with their bank to see if it has been received.

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Taxpayers who e-filed their return for the current year can typically see their refund status within 24 hours using the refund tracking tool. Those who e-filed a tax return for a prior year can usually see it after three days. The refund status for tax returns that were filed using paper copies is available four weeks after filing.

The timeline for refunds to be received by the taxpayer also depends on how they filed their return. Taxpayers who e-filed their returns typically receive their refund about three weeks from the date they e-filed. Refunds for mailed tax returns are usually received six or more weeks from the date the IRS received the mailed return.

TAX FILING SEASON IS OFFICIALLY HERE: WHAT YOU NEED TO KNOW

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The IRS is phasing out paper refund checks but will still send them in certain circumstances. (Juanmonino via Getty Images)

The IRS also encourages taxpayers to enroll in direct deposit if they want to receive their refund faster because the agency began phasing out paper refund checks last fall. It will still send paper checks if no alternative is available for taxpayers. Options available for taxpayers without bank accounts include prepaid debit cards, digital wallets or other limited exceptions.

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The IRS says that while it issues most refunds to taxpayers in fewer than 21 days, some returns may take longer to process as they require additional review or corrections. 

For example, returns that claim the earned income tax credit are held by law until mid-February to prevent fraud, while the complexity of the additional child tax credit requires a deeper review. Common mistakes like forgetting to sign your return or making a math error can also cause delays.

TAX REFUND DELAYS HIT MULTIPLE STATES

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E-filed tax returns are processed faster than paper returns. (Getty Images)

If the IRS corrects the return, it may reduce or increase the refund amount that the taxpayer was owed based on their original filing. When this happens, the IRS will mail a notice explaining the adjustment to the taxpayer’s address of record.

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Taxpayers who had to amend their tax returns after they were initially filed have a separate tool they can use to check on the status of their returns and any refunds they may be owed. 

They can check the status using the “Where’s my amended return?” tool three weeks after it was filed. Amended returns typically take longer for the IRS to process and may require up to 16 weeks.

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The IRS also offers other ways for taxpayers to check their refund status via the IRS mobile app and automated hotlines for refunds and amended returns.

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South African Reserve Bank Maintains Main Repo Rate at 6.75%

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South African Reserve Bank Maintains Main Repo Rate at 6.75%

JOHANNESBURG—The South African Reserve Bank unanimously decided to maintain its main repo rate at 6.75% on Thursday as it braces for the long-term consequences of the war in Iran.

The decision continues a pause in the bank’s cutting cycle that began in September 2024, when the SARB began to reduce rates from a 15-year high of 8.25%.

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India may face credit stress if Gulf conflict drags on: Moody’s

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India may face credit stress if Gulf conflict drags on: Moody's
New Delhi: India and other Asia-Pacific economies could face rising credit stress if the ongoing Gulf conflict persists, as higher energy prices and supply disruptions ripple through global markets, according to a Moody’s Ratings report released on Friday.

Import-dependent economies, it said, would face tighter availability of fuel, food and industrial inputs. Disruptions to fertilizer supply chains could lower crop yields and push up food prices, increasing affordability risks.

India sourced 43% of its petroleum and petroleum products from GCC countries, Iraq and Iran in 2024, compared with 84% by Japan, 67% by Korea, and 42% by China.
“Producers with significant assets in Japan, Korea, India and China are most exposed because of their heavy reliance on Middle Eastern oil and the dominance of naphtha – an oil-derived product – as the primary feedstock for Asia’s steam crackers,” said Moody’s Ratings.

It noted that a prolonged conflict could push Brent crude to about $135 per barrel in the second quarter, keeping prices above $100 for months before easing toward $90 by end-2026. It identified three key transmission channels for global credit risk, that is, energy markets and supply chains, tighter macro-financial conditions, and broader geopolitical disruptions.

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Microsoft Stock Tracking Worst 6-Month Stretch Since 2009

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Microsoft Stock Tracking Worst 6-Month Stretch Since 2009

Microsoft Stock Tracking Worst 6-Month Stretch Since 2009

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Form 6K Skillful Craftsman Education Technology Ltd For: 27 March

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Form 6K Skillful Craftsman Education Technology Ltd For: 27 March

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Accel-backed Rentomojo files for India IPO

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Accel-backed Rentomojo files for India IPO
Online furniture rental platform Rentomojo has filed for an initial ‌public ⁠offering ⁠in Mumbai, according to a draft prospectus dated Friday.

The company is ⁠selling new ‌shares worth up ⁠to 1.5 billion rupees ($15.85 million), while existing shareholders, including venture capital firm Accel, ‌is selling up to 28.4 million ⁠shares, the filing showed.

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Sotherly Hotels to delist preferred stock from Nasdaq

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Sotherly Hotels to delist preferred stock from Nasdaq

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BiomX receives NYSE American non-compliance notice

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BiomX receives NYSE American non-compliance notice

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Iran Has Distracted From the Mag 7 Woes. Why the Slump Is a Good Thing for Stock Markets.

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Iran Has Distracted From the Mag 7 Woes. Why the Slump Is a Good Thing for Stock Markets.

Iran Has Distracted From the Mag 7 Woes. Why the Slump Is a Good Thing for Stock Markets.

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