"Grown Bit Too Complex": Ikea To Cut 850 Jobs At Parent Company

05/18/26 6:03 PM

Of the 850 staff positions being cut, around 300 will be in Sweden based on current plans, Inter Ikea said. The company reported a 32% drop in profit in FY25.

'Critical point' for consumer shortages flagged as 'emergency buffers fail simultaneously'

05/17/26 4:30 PM

Renowned international security expert Robert Pape issued a dire warning on Sunday that an irreversible “critical point” had been reached in the U.S. war against Iran, one that risks sparking global shortages and economic disruptions on a scale not seen in decades.“Two months ago, I warned that the Iran war was not simply creating an oil price spike. It was creating the conditions for shortages, supply disruptions, and eventually economic contraction,” Pape, a professor of political science at the University of Chicago, warned in an analysis published Sunday on his Substack. “That transition is now beginning.”Among Iran’s first responses to the “unprovoked” attack from the United States and Israel was to close the Strait of Hormuz – a critical shipping waterway through which 20% of the world’s oil trade historically flowed – to U.S.-aligned vessels. Predictably, the strait’s partial closure sent oil prices skyrocketing.With the war now stretching into its 78th day as of Sunday, the strait’s closure has finally exhausted worldwide “buffers” that have helped to slow the economic impact from disrupting trade through what is among the busiest shipping channels on earth, Pape warned.“The critical point is no longer oil prices alone,” Pape wrote. “The world’s emergency buffers – inventories, reserves, subsidies, and logistical workarounds – are beginning to fail simultaneously.”Signs of existing stockpiles or resources still in transit being exhausted have already reached the United States. The final shipment of oil from the Strait of Hormuz before its partial closure arrived in California earlier this month, and reporting suggests a major shortage of motor oil may be imminent.

'Glaring': Speculation abounds as Melania noticeably absent from husband's China trip

05/13/26 7:21 PM

President Donald Trump's high-stakes three-day China visit has revealed one person conspicuously missing — his wife, First Lady Melania Trump. Trump was accompanied to Beijing with his cabinet, his son Eric, and daughter-in-law Lara, and 16 corporate CEOs, The Daily Beast reported. And hours before taking off to leave the United States, the first lady's office dropped a cryptic confirmation in a statement to the South China Morning Post, without any explanation for why she would miss out on the trip. "First Lady Melania Trump is not travelling this time," Melania's spokesperson said. When pressed for additional details, her team went silent.The snub marks the latest chapter in what insiders describe as a widening rift between the first couple. "The move comes amid speculation about the first lady increasingly breaking with her husband as she seems to be trying to charter her own course," The Beast reported. "Trump and his White House aides were reportedly blindsided last month when she called a surprise press conference to read a statement declaring she had no ties to the late sex trafficker Jeffrey Epstein. The move appeared only to revive the scandal that Trump himself had been eager to put to rest."Melania has been noticeably absent at the White House throughout the second Trump administration and often does not travel with the president. And although first ladies don't always attend trips, the questions around her attendance have raised eyebrows. "Her absence is all the more glaring because it follows a trend that has stood out in Trump’s second term: She’s been appearing alongside him less and less on state visits," according to The Beast.