Ikea Could Post Profit in India in Three Years, Country CEO Says
The Swedish flat-pack furniture seller will open two new stores in the suburbs of the capital New Delhi — one in the tech hub of Gurgaon in late 2026 and another in Noida in 2028, Ikea India CEO Susanne Pulverer said.
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Barnburner Figma IPO Offers Good Omen as Klarna Reconsiders Debut
None of this was by design. Less than two years ago, in December 2023, software giant Adobe abandoned a $20 billion acquisition of Figma, the maker of cloud-based design tools for building website and app interfaces. The deal unraveled after antitrust regulators in the US and Europe expressed such vociferous concern that Adobe didn't even bother with seeking formal approval. Figma shareholders ought to thank them: The company's shares soared 250% in their New York Stock Exchange debut yesterday, yielding a market capitalization of $47 billion, or more than double Adobe's offer. Other companies flirting with initial public offerings (IPO), like a certain Swedish fintech, may soon follow the encouraging developments. READ ALSO: Big Tech Pulls Off a Very Big Earnings Week and Exxon and Chevron, Rivals Turned Frenemies, Face Profit Pressure-Cooker Wake-Up Call The IPO market, as you probably know, entered a bear-like hibernation after its 2021 peak. Central banks started hiking interest rates to lance white-hot inflation, the knock-on effect being an increased cost of capital (which makes it harder to borrow and finance growth). There was hope this slumbering bear would emerge from its cave this year, soothed by the honeyed business outlook of the new administration. Instead, the first half of 2025 ended up meh. On the one hand, the US saw 109 IPOs, the most in the first half of a year since 2021. But the proceeds (the actual money raised in those offerings) fell to $17.1 billion from $18.8 billion in the first half of 2024, according to an EY analysis. To emphasize just how far things have fallen, the first half of 2021 saw 219 US IPOs that brought in $85.1 billion. Much of the gap can be explained by economic uncertainty due to the Trump administration's saber-rattling about tariffs, which has left the Federal Reserve hesitant to cut rates so far this year. But Figma's debut on Thursday was the latest in a series of encouraging signs: On top of the software developer's sterling debut, recent weeks saw online bank Chime and stablecoin issuer Circle debut (the former up 27% from Chime's $27 June IPO price, the latter up over 490%). AI data center company CoreWeave, which debuted in March, is up almost 200%. So take it as no surprise that buy-now-pay-later fintech Klarna, which filed for an IPO in March but punted amid the tariff uncertainty in the months to follow, is considering listing as early as next month, according to sources who spoke to Bloomberg News. The outlet reported that the recent run of strong debuts is a factor in Klarna's thinking; EY's research bolsters the case for momentum, noting that June accounted for nine of the 16 IPOs that raised more than $50 million in the second quarter. What M&A Has to Say: There are signs that another core part of corporate activity, mergers and acquisitions, is also proving resilient amid escalating tariffs. In the first half of the year, the value of announced M&A deals reached $1.2 trillion, the highest in three years, S&P Global research said this week. 'As markets have largely shrugged off initial tariff uncertainties with multiple pauses, deals have resumed relatively quickly,' wrote the ratings agency. Listings could follow suit, as 'the IPO market appears poised to build on recent momentum,' according to EY's analysis (especially if trade negotiations stay subdued compared to a dramatic April that sent Klarna into a hibernation cave of its own for a few months). This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. 登入存取你的投資組合
Yahoo
a day ago
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Truecaller's call recording feature won't work on iPhones from Sept. 30
Truecaller is discontinuing its call recording function on iOS — just over two years after the feature was launched — as the Swedish company opts to focus on its core offering: fighting spam calls. On Friday, the company confirmed to TechCrunch that its call recording feature will no longer be available on iPhones starting September 30. Users with saved call recordings can either download them to their devices, share them via email or messaging apps, or switch their storage preference to iCloud to keep the recordings accessible even after the feature is discontinued. Truecaller's head of iOS, Nakul Kabra, told TechCrunch the company took the decision because it wanted to focus on its Live Caller ID and automatic spam blocking features. In June 2023, Truecaller launched call recording on iOS for its paying subscribers, alongside reintroducing the feature on Android. The app also got support for transcribing calls natively. Both call recording and transcription were launched in India last year. While call recording works seamlessly on Android, it is more complicated on iOS, where Apple's operating system does not let third-party apps record calls natively. To work around this, Truecaller uses a recording line that merges calls to record — a method that increases both costs and complexity, per Kabra. These challenges ultimately led to the feature being discontinued. The company has set up a support page to help users if they face any issues during the transition. Truecaller's move comes months after Apple introduced native call recording and transcription support for iPhone users in an iOS 18.1 update last year. The native feature does not require users to connect to a record line to record the call, unlike Truecaller, and also brings Apple Intelligence-powered transcriptions. That said, Truecaller had introduced call recording in the first place to entice iPhone users to upgrade, as the caller ID function is limited on the free tier. Paying users also get real-time caller ID, along with advanced and automatic spam blocking, Siri shortcuts, incognito mode, and other features. Truecaller has around 3 million subscribers worldwide, but iOS accounts for 44% of its total premium revenue, per its second-quarter financial results (PDF). Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
a day ago
- Newsweek
Ikea Recalls Product Nationwide Over Multiple Injuries: What to Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Ikea recalled thousands of its popular garlic presses in the United States on Thursday after receiving reports that small metal pieces could detach during use, creating laceration and ingestion hazards. The recall affects more than 43,000 IKEA 365+ VÄRDEFULL garlic presses, sold in Ikea stores and online nationwide in the United States from March 2024 through May 2025. More than 10,000 were also sold in Canada. The U.S. Consumer Product Safety Commission (CPSC) released an official recall notice, emphasizing consumer safety and urging affected shoppers to stop using the product immediately and return it for a full refund for the items sold for about $8 each. Newsweek reached out to Ikea's press team via email on Friday for comment. Why It Matters The recall is significant in scope and reach, and highlights concerns about the safety of a commonly used kitchen gadget. Ikea said that the garlic presses are being recalled because small metal pieces can break away during use, potentially causing lacerations or being ingested. Globally, Ikea has received 10 reports of such incidents, CPSC said, including three injuries—lacerations and finger splinters—though no cases have been reported in the U.S. An IKEA 365+ VÄRDEFULL garlic press. An IKEA 365+ VÄRDEFULL garlic press. CPSC What To Know The recall applies to the IKEA 365+ VÄRDEFULL garlic press, characterized by a black rubber handle and a zinc-coated garlic chamber. Only presses imprinted with the Ikea logo at the upper part of the handle are included. The affected products were sold at Ikea stores nationwide and online from March 2024 through May 2025 for about $8 each, CPSC's alert said. Consumers who purchased the recalled garlic presses are advised to stop using them immediately. They may return the product to any Ikea store for a full refund without a receipt. For those unable to visit a store, instructions for disposal and receiving a refund can be obtained by contacting Ikea directly at 888-966-4532 or through the recall page on the company's website. The garlic presses were imported by IKEA Supply AG of Switzerland and retailed by IKEA US Retail LLC. The items were manufactured in China. In its announcement, the CPSC advised consumers who experience issues with a recall remedy or unresponsiveness to file a report using their Recall Complaint form. What People Are Saying An Ikea spokesperson said in a statement on Thursday: "We take product safety very seriously and are taking precautionary measures by recalling the IKEA 365+ VÄRDEFULL garlic press out of an abundance of caution. Customers' safety is our top priority." U.S. Consumer Product Safety Commission, in a statement: "Consumers should immediately stop using the recalled garlic press and return it to any IKEA store for a full refund. If you experience issues with a remedy, please notify CPSC." What Happens Next Ikea said it will provide full refunds to affected customers who return or properly dispose of the recalled product. The CPSC continues to encourage consumers to participate in product recalls and report any injury or unsatisfactory recall responses.
