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☆ Opinion: Trump’s congestion pricing outrage is classic ‘dead cat’ strategy
▼ + stars: | 2024-05-09 | by ( Opinion Rosa Prince | ) edition.cnn.com time to read: +8 min

In short, Trump’s New York congestion comment was classic dead cat. In the same Truth Social message, the former president mused about the impact of congestion pricing elsewhere in the world. After all, congestion pricing has been introduced in a number of cities, from Singapore to Stockholm, over the past 25-odd years. I live about four miles from the edge of the congestion zone, and it’s never once been a problem to circumvent. By most metrics, London’s congestion pricing experiment has been a resounding success.

Persons: Rosa Prince, Read, Donald Trump, ”, Rosa Prince Rosa Prince Here, Stormy Daniels, mused, It’s, “, I’m, it’s, Akmen, they’re, Boris Johnson, there’s, Sadiq Khan, Ella Roberta Adoo, Khan, Mayor Khan, he’s Organizations: Politico UK, London CNN — Former, New, Big Apple, Getty, Conservative, Transport, London, Labour Party, Trump, TfL, CNN, Twitter, New Yorker Locations: New York City, New York, Singapore, Stockholm, London, AFP, It’s, Manhattan, London —, England, New

☆ Ikea is cutting prices as inflation eases — and more could be on the way
▼ + stars: | 2024-03-12 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +1 min

Swedish home and furniture company Ikea has been cutting prices across a number of countries as global inflation eased, as it boosts its investments in price reductions. The company is further expanding its price cuts in 2024 across all of its markets globally, aiming to dial back price increases that were introduced in 2022. The price cuts, which started in Europe in September, have led to an increase in customers, as well as an increase in items sold by the retailer, according to Öncü. Between September and November, Ingka has invested more than 1 billion euros ($1.1 billion) in price cuts across markets it operates in, according to Reuters. In Canada, the price of its popular Billy bookcase has fallen by 20% since the company invested 55 million euros to trim prices for over 1,500 products, Ingka said in January.

Persons: Ingka, Billy bookcase Organizations: Ikea, Inkga Group, CNBC, Reuters Locations: Europe, Canada

☆ IKEA cuts prices as inflationary pressures ease, says Ingka Group
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIkea's parent company on price cuts: It's time to 'invest in pricing rather than profitability'Tolga Oncu, head of retail at Ingka Group, discusses its decision to cut prices in all the markets where it operates in light of easing inflation, saying it's taking a staggered approach.

Persons: it's Organizations: Ingka Group

☆ Why AI can’t replace air traffic controllers
▼ + stars: | 2024-02-12 | by ( Amy Pritchett | ) edition.cnn.com time to read: +9 min

In the air traffic control system, everything must meet the highest levels of safety, but not everything goes according to plan. I’m an aerospace engineer who led a National Academies study ordered by Congress about air traffic controller staffing. What air traffic controllers do? The Federal Aviation Administration’s fundamental guidance for the responsibility of air traffic controllers states: “The primary purpose of the air traffic control system is to prevent a collision involving aircraft.” Air traffic controllers are also charged with providing “a safe, orderly and expeditious flow of air traffic” and other services supporting safety, such as helping pilots avoid mountains and other hazardous terrain and hazardous weather, to the extent they can. Researchers are using machine learning to analyze and predict aspects of air traffic and air traffic control, including air traffic flow between cities and air traffic controller behavior.

Persons: Tolga Akmen, Timothy Arel, Harry Reid, Ethan Miller, Amy Pritchett Organizations: CNN, National Academies, Congress, Federal Aviation, Air, FAA, London Heathrow, Tolga, Getty, U.S . Senate, Robotics, Cessna, United Airlines, Kansas City Chiefs United Airlines, Harry Reid International, Air Force One, Penn State University, National Science Foundation, Center, Aerial Mobility, NASA Locations: AFP, Las Vegas

☆ With King Charles out of public duty, the pressure for royals to step up mounts
▼ + stars: | 2024-02-05 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +8 min

Read previewThe announcement Monday that King Charles III has cancer has shone a light on just how fragile the British monarchy is. While he undergoes treatment, King Charles, 75, will "postpone public-facing duties" while continuing to work on his usual State business from home, according to the statement. With the king out of commission for public engagements, it will fall to the rest of the royal family to step more into the public eye while he heals. But the list of working royals is growing smaller and older. King Charles.

Persons: —, King Charles III, Buckingham, King Charles, William, Kristen Meinzer, Meinzer, Prince Harry, Prince Andrew, Kate Middleton, Meghan Markle, Harry, Duke, Chris Jackson, hasn't, Virginia Giuffre's, Jeffrey Epstein, Ghislaine Maxwell, Giuffre, Epstein, Andrew, Wales, Charles, Easter, Prince William, Meghan, don't, Eric Schiffer, Queen Elizabeth II, Camilla, King Charles II, Prince, Princess, CHRIS JACKSON, Schiffer, " Schiffer, Princess Anne, Prince Edward, Anne, Queen Elizabeth II's, Edward, Princess Eugenie, Princess Beatrice, Tolga, Prince Andrew's Organizations: Service, Business, Sussex, Management, Diplomatic Locations: British, London, Virginia, Kensington, Buckingham

☆ Fujitsu role in Britain's Post Office scandal could have severe reputational consequences, analysts say
▼ + stars: | 2024-01-23 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

(Photo by Tolga Akmen / AFP) (Photo by TOLGA AKMEN/AFP via Getty Images) Tolga Akmen | Afp | Getty ImagesLONDON — Fujitsu 's role in the U.K. Post Office scandal, dubbed the "most widespread miscarriage of justice" in British history, has analysts wary of what the fallout could look like for the Japanese IT giant. Between 1999 and 2015, a fault with the company's Horizon computer software used by the Post Office, a state-owned private company employing thousands of people across the country, resulted in more than 700 sub-postmasters being subjected to false prosecutions. watch nowIn a statement Thursday, Fujitsu said it regards the matter with the "utmost seriousness and offers its deepest apologies to the sub-postmasters and their families." "Based on the findings of the Inquiry, we will also be working with the UK government on the appropriate actions, including contribution to compensation." A spokesperson for Fujitsu wasn't immediately available for comment when contacted by CNBC.

Persons: Tolga Akmen, TOLGA AKMEN, Akmen, postmasters, Paul Patterson, Patterson, Fujitsu Tim Morse, —, CNBC's, Mio Kato Organizations: subpostmasters, of Justice, Appeal, Getty, Afp, Fujitsu, Post Office, Post, Business, Trade, Asymmetric Advisors, CNBC, Fujitsu wasn't, Treasury, Fujitsu —, ICL, Tokyo Stock Exchange, LightStream Locations: London, AFP, U.K, Japan

☆ Elon Musk Seeks Greater Control Over Tesla Ahead of AI Advancements
▼ + stars: | 2024-01-16 | by ( Mauro Orru | Rebecca Elliott | ) www.wsj.com time to read: 1 min

Persons: Rishi Sunak, Elon Musk, Tolga, Tesla, Musk, couldn’t Organizations: Elon Locations: China

☆ Elon Musk says he won't vote for Biden over Trump, calls Haley 'pro-censorship'
▼ + stars: | 2023-11-29 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Elon Musk, chief executive officer of Tesla Inc., during a fireside discussion on artificial intelligence risks with Rishi Sunak, UK prime minister, not pictured, in London, UK, on Thursday, Nov. 2, 2023. Photographer: Tolga Akmen/EPA/Bloomberg via Getty ImagesElon Musk said Wednesday that he won't vote for President Joe Biden in the 2024 election, even if former president Donald Trump is the Republican nominee. "I would not vote for Biden," Musk said during a wide-ranging interview with Andrew Ross Sorkin at the DealBook Summit in New York. When asked what he'd do if those were the two nominees, Musk said, "This is definitely a difficult choice here." When asked if he could support Nikki Haley among the Republicans, Musk said no and described the former South Carolina governor as a "pro-censorship candidate."

Persons: Elon Musk, Rishi Sunak, Sunak, Tolga, Joe Biden, Donald Trump, Biden, Musk, Andrew Ross Sorkin, I'm, Barack Obama's, hasn't, Ron DeSantis, Vivek Ramaswamy, Sorkin, Ramaswamy, Nikki Haley Organizations: Tesla Inc, Bloomberg, Getty, Republican, Trump, Democratic Party, Florida, Republicans, South Locations: London, New York, South Carolina

☆ Elon Musk’s Social-Media Comments Spark Tesla Investor Backlash
▼ + stars: | 2023-11-22 | by ( Rebecca Elliott | ) www.wsj.com time to read: 1 min

Elon Musk has said he isn’t antisemitic and criticized media coverage of his actions. Photo: tolga akmen/pool/ShutterstockThe controversy over Elon Musk’s comments on the social-media platform X reached the board of Tesla this week. Several prominent Tesla investors are speaking out after Musk, the car maker’s chief executive, last week called an antisemitic post “the actual truth.”

Persons: Elon Musk, tolga, Elon Musk’s, ”

☆ Elon Musk’s X Sues Media Matters Over Antisemitism Report
▼ + stars: | 2023-11-21 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

X and its billionaire owner, Elon Musk, have generated controversy over antisemitic content on the platform. Photo: tolga akmen/pool/ShutterstockX sued Media Matters for America after the left-leaning media watchdog group reported ads appeared near antisemitic and pro-Nazi content on the social-media platform formerly known as Twitter. X alleged in its lawsuit filed in federal court Monday that Media Matters was trying to drive away its advertisers. Media Matters in a report last week said X placed ads for certain companies next to posts supporting Nazis and white nationalism.

Persons: Elon Musk, tolga, X Organizations: Media Matters, America, Media

☆ The wildest moments of WeWork’s rise
▼ + stars: | 2023-11-11 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

And many early WeWork employees, who worked at lower salaries because they were given stock options, ended up with nothing. WeWork’s wild rise and fall is the latest high-profile incident to shatter that myth. Here is a look at four of the wildest moments from WeWork’s rise, according to the company’s statements and a best-seller about the company. (Part of WeWork’s push to appeal to millennials included free-flowing beer and open bars set up within its coworking outposts.) That pre-IPO paperworkThe beginning of the end can perhaps be traced back to WeWork’s first attempt to go public back in 2019.

Persons: New York CNN — WeWork, Adam Neumann’s, Neumann, Son, Adam Neumann, Kelly Sullivan, Eliot Brown, Maureen Farrell, millennials, Darryl McDaniels, Mike Segar, ”, Rebekah, WeWork, Caitlin Ochs, WeWork’s, Neuman, Mark Lennihan, “, Tolga Akmen Organizations: New, New York CNN, WeWork, San Francisco, of Fine Arts, Gulfstream G650, Wall Street Journal, Bloomberg, Getty, Nasdaq, City of Locations: New York, San, San Francisco , California, Israel, Manhattan , New York, WeGrow, WeLive, New York City, U.S, City, City of London, AFP

ANKARA, Turkey (AP) — Turkey’s highest court on Wednesday upheld a controversial media law that mandates prison terms for people deemed to be spreading “disinformation,” rejecting the main opposition party’s request for its annulment. It was approved in parliament a year ago with the votes of legislators from President Recep Tayyip Erdogan’s ruling party and its nationalist allies, heightening concerns over media freedoms and free speech in the country. The main opposition party had petitioned the Constitutional Court seeking its annulment, arguing that the law would be used to further silence government critics by cracking down on social media and independent reporting. Freedom of expression and media freedoms have declined dramatically in Turkey over the years. Currently, 19 journalists or media sector workers are behind bars, according to the Journalists’ Union of Turkey.

Persons: Recep Tayyip Erdogan’s, Tolga Sardan, Erdogan Organizations: —, Anadolu Agency, Borders, Journalists ’ Union of Locations: ANKARA, Turkey, Journalists ’ Union of Turkey

☆ EY Lays Out U.S. Governance Overhauls After Failed Split
▼ + stars: | 2023-11-06 | by ( Mark Maurer | Alexander Saeedy | ) www.wsj.com time to read: 1 min

Ernst & Young’s global executive board is preparing to vote on a successor to Carmine Di Sibio, the global chairman and chief executive, in coming weeks. Photo: tolga akmen/Agence France-Presse/Getty ImagesErnst & Young is stepping up its U.S. governance overhaul efforts, a bid to give partners there a greater voice in firm strategy, following the failed separation of its audit and advisory businesses earlier this year. The proposal comes as the Big Four accounting firm continues to work to untangle the mess left by its decision in April to scrap plans to split auditing and consulting into two different firms. EY spent $600 million and more than a year working on the split.

Persons: Ernst, Carmine Di Sibio, tolga, Young, EY Organizations: Agence France, Getty, Ernst, Big

☆ Elon Musk Says His New AI Bot ‘Grok’ Will Have Sarcasm and Access to X Information
▼ + stars: | 2023-11-04 | by ( Jason Dean | ) www.wsj.com time to read: 1 min

U.K. Prime Minister Rishi Sunak and billionaire Elon Musk discussed a wide range of topics, from China to the implications of rogue robots, during an event at the UK’s first major summit on artificial intelligence safety. Photo: Tolga Akmen/Press PoolElon Musk gave a glimpse of his artificial-intelligence startup’s first product: a bot named Grok whose sense of humor he demonstrated with jokes about Sam Bankman-Fried and how to make cocaine. Musk, with a series of posts late Friday on X, included what he indicated were sample responses from Grok as he boasted that it will have a sarcastic sense of humor and the advantage of access to information via X, the platform formerly known as Twitter that he bought just over a year ago. He said Grok would begin limited testing on Saturday to a select group, and, after early beta testing, be made available to X’s Premium+ subscribers.

Persons: Rishi Sunak, Elon Musk, Tolga, Sam Bankman, Grok Organizations: Elon Locations: China

☆ Tech Giants Spend Billions on AI Startups—and Get Just as Much Back
▼ + stars: | 2023-11-03 | by ( Berber Jin | Tom Dotan | ) www.wsj.com time to read: 1 min

U.K. Prime Minister Rishi Sunak and billionaire Elon Musk discussed a wide range of topics, from China to the implications of rogue robots, during an event at the UK’s first major summit on artificial intelligence safety. Photo: Tolga Akmen/Press PoolAmazon , Google and Microsoft have spent the past year investing billions of dollars in artificial-intelligence startups—while also charging those fledgling companies a similar amount to use their cloud platforms. The deals are making the big tech firms the largest backers and most direct beneficiaries of these startups, reflecting how some of the AI boom’s biggest rewards keep going to the most powerful players. The value of the tech giants’ stakes could shoot up if the startups take off. And if not, they still will have turned chunks of cash into revenue.

Persons: Rishi Sunak, Elon Musk, Tolga Organizations: Google, Microsoft Locations: China

☆ IKEA sticks with China despite slowing economy
▼ + stars: | 2023-10-12 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman Acquire Licensing RightsMALMÖ, Sweden, Oct 12 (Reuters) - China is still a key growth market for budget furniture retailer IKEA despite the world's second-largest economy showing signs of strain, executives at the biggest IKEA store owner said on Thursday. The company has 37 IKEA stores in China, out of a total of 537 locations worldwide. Ingka Group overall saw 697 million visits to its IKEA stores in the 2023 financial year, up 7.4% from the previous year. The rate of increase was much higher in China, Brodin said, as stores reopened and shoppers returned. China's sheer size makes it a key opportunity, said Tolga Oncu, head of IKEA Retail at Ingka Group.

Persons: Yves Herman Acquire, Jesper Brodin, Brodin, Ingka, Tolga Oncu, Oncu, Helen Reid, Josie Kao Organizations: REUTERS, IKEA, Ingka Group, Ingka, Reuters, IKEA Retail, Thomson Locations: Brussels, Belgium, Sweden, China

☆ BMW will invest $750 million to keep making the Mini in Oxford
▼ + stars: | 2023-09-11 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —BMW announced Monday that it would invest £600 million ($750 million) in building two new electric versions of the Mini in the United Kingdom. The commitment by the German automaker will secure the future of Mini production in Oxford, where the original classic version of the small car was born 64 years ago. Almost a year ago, BMW told the Times newspaper that it planned to shift all Mini production from Oxford to China for efficiency reasons. “Mini has always been aware of its history — Oxford is and remains the heart of the brand,” Stefanie Wurst, head of the Mini brand at BMW, said Monday. Robots work on the Mini production line at the BMW plant in Cowley, near Oxford.

Persons: London CNN —, Mini Cooper, ” Stefanie Wurst, Tolga Akmen, Susannah Streeter, Hargreaves Lansdown, Rishi Sunak, ” Organizations: London CNN, London CNN — BMW, Swindon, BMW, Times, Oxford, Government, Getty, Tata Group, Rover, Hargreaves Locations: United Kingdom, Oxford, China, Leipzig, Germany, Cowley, AFP

☆ The secret side of the Mediterranean – by boat in Turkey
▼ + stars: | 2023-08-07 | by ( Rob Hodgetts | ) edition.cnn.com time to read: +10 min

Tropez of Turkey,” but there are plentiful nooks and crannies to discover away from the crowds. Jetties jut into the emerald water enticing boat crews to dine at the small tavernas, including Captain Ibrahim’s and Rosemary Restaurant. Across the gulf on its own peninsula is pretty waterfront town Bozburun, known for its thyme honey, sponge fishing and traditional boat builders. Bestas Limani is known as Cold Water Bay as it's fed by chilly mountain springs. To the south of Fethiye is Bestas Limani, more commonly known as Cold Water Bay because of the cold springs that flow from the mountains.

Persons: Ada, Tropez of, Captain Ibrahim’s, Rosemary, Cleopatra, Mark Antony, Aphrodite, Sleepy Selimiye, Marmaris, Bükü, Mattia Sobieski, St, Nicholas –, – Organizations: CNN, Baba, Q Locations: Coast . Gulf, Gökova, Yalıkavak, Gümüşlük, Kalymnos, Fenerci, Kos, St, Tropez, Tropez of Turkey, ”, Bodrum, Orak, Maldives, North Africa, Kedrai, Değirmen, Knidos, Hisarönü, Simi, bougainvillea, Turkey, Palamut, Bençik Bay, Loryma, Hellenic, Çiftlik, Marmaris, Ekinçik, Kaunos, . Gulf, Fethiye, imageBROKER.com, Telmessos, Turkish, Tersane, Ottoman, Ruin, Wall, Kayaköy, Lausanne, Gemiler

☆ HSBC CEO on Farage-Coutts spat: 'We do not exit clients based on their lawful personal views'
▼ + stars: | 2023-08-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

HSBC's U.K. headquarters are seen at the Canary Wharf financial district of London on July 31, 2018. Although refusing to discuss details of other banks and their clients, HSBC boss Quinn told CNBC on Tuesday that "our policy is not to de-bank or exit a client based on their lawful personal views." "We also have a responsibility as an institution to look at any areas of financial crime compliance or we have an obligation to collect information on KYC (Know Your Customer), so we have those competing obligations but to reiterate, as a policy we do not exit clients based on their lawful personal views." The closure of Farage's account triggered a heated debate in the U.K. and rocked the domestic banking industry. NatWest CEO Alison Rose was forced to resign, after she admitted discussing details of Farage's Coutts account with a BBC reporter in the wake of his allegations.

Persons: Tolga Akmen, Noel Quinn, Coutts, Nigel Farage's, Farage, Coutts —, —, Quinn, Alison Rose, Farage's Coutts, Peter Flavel, Rishi Sunak, Jonathan Bachman Organizations: AFP, Getty, LONDON, HSBC, Trump, NatWest Group, CNBC, NatWest, BBC, Brexit Party, UKIP Locations: London, U.K

☆ TikTok takes on Spotify, Apple Music as it expands into music streaming
▼ + stars: | 2023-07-25 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Some market shareThe music streaming market is currently dominated by Swedish giant Spotify and Apple Music. Spotify commands almost 31% of the global streaming market with Apple Music following with 13.7%, according to the International Music Summit Business Report 2023. But Cirisano said that heavy TikTok users could convert into TikTok Music users if they are using other services such as Spotify. Still, Woo of Phillip Securities Research said TikTok Music presents a "low risk" for Spotify and Apple Music. Spotify and Apple Music did not respond to CNBC's requests for comment.

Persons: TikTok, Tolga Akmen, Jonathan Woo, Ole Obermann, Tatiana Cirisano, Cirisano, Woo Organizations: Afp, Getty, Spotify, Apple Music, Phillip Securities Research, YouTube, MIDiA Research, CNBC, MiDIA, Apple, International Music Summit, TikTok Locations: TikTok, Indonesia, Brazil, U.S, Australia, Canada, Germany, France, Sweden, South Korea, Swedish

☆ Turkey’s Double Dealing in the Ukraine War
▼ + stars: | 2023-07-13 | by ( Michael Kimmage | Hanna Notte | ) www.wsj.com time to read: 1 min

Ukraine’s President Volodymyr Zelensky (left) with Turkish President Recep Tayyip Erdogan after their meeting in Istanbul on July 7. Photo: Tolga Bozoglu/Zuma PressAt the last minute, Turkey gave a gift to NATO, whose members gathered in Vilnius this week for a much-anticipated summit. It dropped its objections to Sweden’s entry into the alliance, confirming NATO’s transformation after Russia’s 2022 invasion of Ukraine. Not only have NATO member states given a remarkable amount of military aid to Ukraine. The alliance itself has grown to include Finland and will soon include Sweden, two affluent democracies that will strengthen NATO.

Persons: Volodymyr Zelensky, Recep Tayyip Erdogan, Tolga Bozoglu Organizations: Zuma Press, NATO Locations: Istanbul, Turkey, Vilnius, Ukraine, Finland, Sweden

☆ With home improvement projects down, it’s Ikea’s moment
▼ + stars: | 2023-07-08 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

Over the next three years, it plans to open eight large stores and nine smaller “plan and order points,” where customers can chat with design consultants and order products. “We see endless opportunities to grow” in the US, Tolga Öncü, head of Ikea Retail for the Ingka Group, Ikea’s Dutch holding company, said in a statement at the time. After splurging on home improvement projects during the pandemic, consumers are pulling back. Home improvement retailer Lowe’s lowered its profit and sales outlook for the year in May, saying consumers were spending less on home improvement. Ikea, which is not publicly traded, reported that its retail sales rose by 6.5% in fiscal year 2022, but didn’t post quarterly results.

Persons: ”, Michael Brown, Spencer Platt, Tolga Öncü, Karl Zimmermann, “, Sucharita Kodali, Forrester, “ they’re, Zimmermann, Paul Bersebach, Marisa Ortega, splurging, Ethan Allen, ” Ortega, —, Anna Cooban, David Goldman, Nathaniel Meyersohn, Parija Kavilanz Organizations: New, New York CNN, Ikea, Ikea Retail, Ingka, Bain, MediaNews, Orange, Register Locations: New York, Aldi, Long Beach , California

☆ Where’s the Recession We Were Promised?
▼ + stars: | 2023-06-23 | by ( James Mackintosh | ) www.wsj.com time to read: 1 min

The market looks to be heating up again after the Fed paused its string of rate hikes, but layoffs are starting to pick up and forward-looking economic data is showing signs of a recession. Here is what to look out for this week. Photo: Tolga AkmenThe 2023 recession is missing in action. At the end of last year, economists were more convinced than they’ve ever been that recession was on the way, but it refused to arrive. Now investors, economists and Federal Reserve policy makers are giving up on the idea, expecting the economy to be (a bit) stronger and stock prices and bond yields to be higher.

Organizations: Fed, Federal Reserve

STOCKHOLM, June 1 (Reuters) - IKEA stores owner Ingka group has announced the official start of work on its delayed first store in New Zealand, which it predicts will be followed by other outlets as the Asia-Pacific region recovers from the COVID-19 pandemic and macro-economic shocks. Head of Retail at Ingka group Tolga Oncu told Reuters preliminary opening dates were often subject to change. Asked about possible stores in other parts of New Zealand, Oncu said he did not expect the one in Auckland to be enough. "So one can expect that IKEA in the long term is going to continue to look for opportunities to expand in New Zealand," he said. Globally, there are more than 450 IKEA stores, most of which are owned by the Ingka group.

Persons: Oncu, Ingka, Marie, Lucy Craymer, Barbara Lewis Organizations: IKEA, Reuters, Marie Mannes, Thomson Locations: STOCKHOLM, New Zealand, Asia, Pacific, Auckland , New, Auckland, Europe, Australia, Stockholm, Wellington

☆ TikTok is quietly moving in on record labels' territory and insiders say its ambitions could end up 'pissing off' music partners
▼ + stars: | 2023-05-15 | by ( Dan Whateley | ) www.businessinsider.com time to read: +12 min

Its music ambitions could ruffle feathers at record labels and publishers — unless it pays out. TikTok's app regularly sparks trends that help songs go viral, making it a favorite of marketers at major labels and independents. TikTok works closely with record labels and artists on promotional efforts like livestreamed concerts, in-person performances, and private listening parties with TikTok stars. Spotify has maintained a tenuous relationship with the labels over the years as it's sought to balance profit margins while splitting revenue with artists, labels, and publishers. Still, even as record labels and publishers push TikTok to pay more to music rights holders, they're investing more in the app.

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