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Price hike coming to Ikea stores around the world as supply crisis worsens

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International retail store Ikea is set to raise prices as the mass disruptions caused by global supply chain issues worsens

Ikea will raise the prices of its products as global supply chains continue to deal with major disruptions, which is expected to last into next year.

On Wednesday, Ikea reported a drop in full-year profit due to higher transport and the costs of raw material.

In 2022, Ikea will begin to pass some of these costs on to its outlets, which will be free to then charge customers more, according to reports by Reuters.

Businesses around the world continue to struggle with supply chain problems as economies recover from the pandemic.

The Swedish furniture giant saw record demand during the pandemic as people spent more time at home.

However, pre-tax profit at Ikea Group – which makes most of its money selling goods to its franchisees – fell 16% in the year to September to €1.7 billion.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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Falling in love with stocks with Nick Quinn

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On this week’s episode of Talk Ya Book, Chris Judd is joined by Spatium Capital’s Nick Quinn to discuss the why investors fall in love with stocks, when to sell and why three of his choices are performing strongly.

Proudly presented by Honan.

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Bank battering sees mess start to clean up

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What will the future of the banking sector look like?

 
The once-mighty banking sector has taken a battering over the past month.

From two U.S. banks closing down, to one in Switzerland merging with its biggest rival, the sector has sent shockwaves throughout financial markets around the world.

And another European Bank could be following suit.

But, what will the future of the industry start to look like, once the mess has been cleaned up?

Founder and CEO of Umee, Brent Xu, joined us to discuss.

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Disney to axe 7,000 jobs

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The Mouse House will deliver two rounds of layoffs

Disney has announced it will begin to axe 7,000 jobs, as it seeks to control costs and create a more “streamlined” business.

Several major divisions of the company, including Disney Entertainment, Disney Parks, Experiences and Products, and corporate, will be impacted.

Disney will begin notifying the first group of employees who are impacted by the workforce reductions over the next few days.

A second, larger round of job cuts will happen in April, with several thousand more staff reductions.

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