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IKEA extends payment to Russian staff who aren’t working

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IKEA will continue to pay its staff in Russia until August, extending the period by three months

The owner Ingka Group says its may continue to pay its 12,000 staff beyond that as well.

The furniture brand’s stores closed early in March due to supply chain disruption and challenging trading conditions triggered by the war in Ukraine.

Upon closing the company promised to pay staff in roubles until the end of May but have now managed to prolong that to six months.

Ingka’s Retail Manager Tolga Oncu says they are “monitoring, analysing, looking at what’s happening and will make decisions as we go forward”.

IKEA is one of many western companies that have withdrawn their services from Russia pausing operations due to Russia’s invasion of Ukraine.

McDonalds and Renault are also continuing to pay out their Russian staff.

Ingka is the main franchisee to enter IKEA, and is also responsible for supplying the company and employs 2,500 people at three factories.

The holding company based in the Netherlands is also one of the world’s biggest shopping centre owners, with 14 malls still in operation in Russia.

Oncu did not specify how IKEA was sourcing the money to pay local wages but assured that they are complying with all the sanctions and “utilising the assets” that they have in Russia.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Will the Fed reserve’s cautious stance tame inflation or stifle growth?

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The Federal Reserve opted to keep interest rates unchanged, signalling concerns over the sluggish pace of inflation improvement.

On this episode of Hot Shots – US Fed Reserve aim for 2%, Elon Musk makes a bold Tesla choice, Amazon makes big movies thanks to AI and fast-food restaurants are facing a big issue with customer retention.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #hot shots #ticker today

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How Hotspotting is driving investment advantage

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In the real estate rumble, how can Australian’s know where to make the best investments?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

Hosted by Mark Wyld.

In this episode, Mark is joined by Tim Graham, General Manager of Hotspotting Australia.

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Research shows daters are looking for solvent partners

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As the cost-of-living crisis continues to grip Australia, new research reveals a shifting landscape in the realm of dating preferences.

According to the survey conducted by eharmony, an overwhelming two-thirds of Australians are now keen to understand their potential partner’s financial situation before committing to a serious relationship.

The findings indicate a growing trend where individuals are becoming more discerning about whom they invest their affections in, particularly as the economic pressures intensify.

Read more: Why are car prices so high?

The study highlights that nearly half of respondents (48%) consider a potential partner’s debts and income as crucial factors in determining whether to pursue a relationship.

Certain types of debt, such as credit card debt, payday loans, and personal loans, are viewed unfavorably by the vast majority of respondents, signaling a preference for partners who exhibit financial responsibility.

Good debt

While certain forms of debt, such as mortgages and student loans (e.g., HECS), are deemed acceptable or even ‘good’ debt by a majority of respondents, credit card debt, payday loans (such as Afterpay), and personal loans top the list of ‘bad’ debt, with 82%, 78%, and 73% of respondents, respectively, expressing concerns.

Interestingly, even car loans are viewed unfavorably by a significant portion of those surveyed, with 57.5% considering them to be undesirable debt.

Sharon Draper, a relationship expert at eharmony, said the significance of financial compatibility in relationships, noting that discussions around money are increasingly taking place at earlier stages of dating.

“In the past, couples tended to avoid discussing money during the early stages of dating because it was regarded as rude and potentially off-putting,” Draper explains.

“However, understanding each other’s perspectives and habits around finances early on can be instrumental in assessing long-term compatibility.”

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