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Tag: Products

Study: People favor products with more reviews, regardless of what reviews say

Study: People favor products with more reviews, regardless of what reviews say

Science
Aug. 21 (UPI) -- New research suggests that consumers use reviews and ratings by other consumers to drive their purchasing decision-making.The study, published today in Psychological Science, found that people favor products that have more reviews, even if they have lower ratings than an alternative product."It's extremely common for websites and apps to display the average score of a product along with the number of reviews. Our research suggests that, in some cases, people might take this information and make systematically bad decisions with it," Derek Powell, a researcher at Stanford University, said in a press release."We found that people were biased toward choosing to purchase more popular products and that this sometimes led them to make very poor decisions."Researchers studied act...
Animal products will still be used for notes

Animal products will still be used for notes

Business
The Bank of England has decided to carry on using chemicals derived from animal products to make its new plastic banknotes despite an outcry.An extensive consultation saw the vast majority of those who responded say they were against the use of the additives.But the Bank said the alternative of using palm oil raised environmental concerns and would cost the Treasury an extra £16.5m over the next ten years.The Government told the Bank it did not believe a switch would be achieve value for money for taxpayers.Campaigners launched a petition last autumn after it emerged that the new plastic £5 note contained traces of an animal product derivative.The Bank launched a review following the outcry and earlier this year decided not to scrap the notes, though it said it would hold a public consulta
Waste products, not crops, key to boosting UK biofuels

Waste products, not crops, key to boosting UK biofuels

Science
The UK should focus on using waste products like chip fat if it wants to double production of biofuels according a new study.The report from the says that making fuel from crops like wheat should be restricted.Incentives should be given to farmers to increase production of fuel crops like Miscanthus on marginal land. Even with electric vehicles, biofuels will still be needed for aviation and heavy goods say the authors. While the European Union has mandated that 10% of transport fuels should come from sustainable sources by 2020, these biofuels have been a slow burner in the UK. Suppliers are already blending up to 4.75% of diesel and petrol with greener fuel, but doubling this amount will take up to 10 years say the authors of this new report, that was commissioned by the government. To ...
RBI makes Banks responsible for misselling third party products

RBI makes Banks responsible for misselling third party products

Finance
MUMBAI: Banks for the first time have been made accountable for misselling third-party products like insurance policies or mutual fund schemes. Customers can also file complaints against banks for problems with mobile and digital banking services. The RBI on Friday said that it has widened the scope of its Banking Ombudsman Scheme 2006 to include deficiencies arising out of sale of third-party investment products by lenders. Under the amended scheme, a customer would also be able to lodge a complaint against banks for non-adherence to the RBI instructions with regard to mobile or electronic banking services. Following the amendment, the pecuniary jurisdiction of the ombudsman to pass an award has been doubled from Rs 10 lakh to Rs 20 lakh. The ombudsman has been empowered to award comp...
Nearly 2.5 Million Pounds of Tyson Chicken Products Recalled

Nearly 2.5 Million Pounds of Tyson Chicken Products Recalled

Health
This article originally appeared on Fortune.com. Nearly 2.5 million pounds of ready-to-eat breaded chicken products are being recalled by Tyson Foods tsn due to misbranding and undeclared allergens.U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced on Friday that the products could contain milk, a known allergen, which is not declared on its label. The recall affects items packaged between Aug. 17, 2016 and Jan.14, 2017.The products subject to the recall have the number P-1325 in its USDA mark of inspection; there have been no confirmed reports of reactions to the consumption of the products. According to the USDA, the products involved in the recall includes:31.86-lb. bulk cases of “Tyson FULLY COOKED, WHOLE GRAIN STRIP-SHAPED CHICKEN PATTIE FRITTERS-CN”