Axios

The European Union's exports of sparkling wine fell 6% between 2019 and 2020, the first such decrease in a decade, according to Eurostat data.

Driving the news: The decrease was largely due to the COVID-19 pandemic which forced bars and restaurants to close.

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.

Why it matters: The decision is yet another example of the effects of the pandemic's ongoing supply chain disruptions.

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.

Cruise lines are facing pressure to temporarily cease sailing as they grapple with the worst COVID outbreaks since they resumed trips in the summer.

Driving the news: The CDC on Thursday said all travelers should avoid cruises, no matter their vaccination status.

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.