Swedish furniture giant Ikea will raise its prices by an average of 9% across its global markets, Ingka Group, owner of most IKEA stores, announced in a press release Thursday.
A record number of states and cities will increase their minimum wage rates in 2022, with many exceeding $15, according to a new report.
Driving the news: The National Employment Law Project found that 25 states and 56 municipalities will raise their minimum wages by the end of 2022. In many areas, the wage floor will meet or exceed $15 per hour.
Tesla recalled about 475,000 cars in the U.S. because of two separate defects that may increase the risk of accidents, the National Highway Traffic Safety Administration (NHTSA) said Thursday.
Driving the news: The company plans to recall 356,309 Model 3 sedans made between 2017 and 2020, citing wiring in the rearview camera that may be damaged by opening and closing the trunk.
JetBlue Airways is canceling over 1,280 flights beginning Thursday through mid-January in an attempt to get ahead of a surge in cases among pilots and flight attendants.
Why it matters: The move follows days of disrupted travel over the last week, when airlines, including JetBlue, United Airlines, Delta Air Lines and American Airlines, cut more than 4,000 flights largely due to staffing challenges.
Crypto investment firm Multicoin Capital recently told investors that its hedge fund assets have soared 20,287% since inception in October 2017, and that its first venture capital fund has returned more than 28x (net of fees), per two sources who saw the presentation.
Why it matters: Thesereturns offer a tantalizing glimpse into why limited partners who were once wary of digital assets are now clamoring to get behind it.
Ghislaine Maxwell, a close associate of the late convicted sex offender Jeffrey Epstein, was found guilty Wednesday by a federal jury of helping Epstein sexually abuse several teenage girls.
Driving the news: The jury deliberated for six days, following a three-week trial in Manhattan.
New, independent digital outlets and nonprofits have begun to fill some of the gap left by fading local newspapers. Limited resources and the pandemic have driven many toward providing community news, information and services rather than traditional accountability journalism.
Why it matters: "It's not just about a legal or structural shift, but it also represents a shift in how the mission of journalism is changing," said Emily Roseman, research director & editor at the Institute for Nonprofit News (INN).
