A standard business practice offsets future costs by funding a reserve for returns – but many small businesses don’t do it

In my 30-plus years of being an accountant I have learned many business lessons from people who were much smarter than me. Jerry Crawford was one of those people. Jerry taught me about product returns.

Jerry – who sadly passed away a decade ago – sold carpets wholesale from a nondescript little building in south Jersey. He employed about 50 people and counted many local and national carpet retailers as his customers. When I reviewed Jerry’s books, I noticed a large reserve for “returns”.

Congress members say pricing practices at 7-Eleven and Circle K stores underscore everyday Americans’ affordability struggles

Five US House members have called out pricing practices at the US’s two largest convenience store chains in response to an investigation by the Guardian.

The Guardian found that 7-Eleven and Circle K stores frequently charge customers more at the register or pump for snacks, gas and other items than the prices they promise on the shelf or on outdoor fuel signs.

Treasury sources concede ‘less room’ for manoeuvre as global bond sell-off also hikes government’s borrowing costs

• International bodies warn of rising debt and borrowing risks

• Burnham stands by claim UK is ‘in hock’ to bond markets

Oil prices lurched upwards again on Thursday, creating a growing headache for UK policymakers ahead of John Healey’s budget next month.

While Healey has been keen to present an upbeat picture of the UK’s economic prospects, Treasury sources concede the sharp jump in oil and gas prices means they have “less room” than a month ago.

Guardian investigation: 7-Eleven and Circle K stores often fail to honor advertised prices – charging more at pump and register for gas, snacks, and other items

Marco Cruz pulled off a four-lane road into the parking lot of a Circle K convenience store in McAllen, Texas, 12 miles north of the US-Mexico border. It was 1.20am on a mild November night in 2025, and Cruz was looking for a bedtime snack after a day of visiting family and friends. He grabbed a pack of beef and jalapeño cheese sticks from the shelf, where they were priced at $3.99. At the counter, though, they rang up at $4.19.

Cruz asked the cashier to charge him the lower shelf price. The employee refused, he said, and threatened to call the police when Cruz grew more insistent. “All I’m asking you is honor the price,” Cruz told the attendant before leaving the store and, later, filing a complaint with the Texas attorney general.