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  Mark Carney, a former central banker, has emerged as Canada’s prime minister following a dramatic election that reshaped the political landscape. His victory was fueled by a surge of nationalism in response to U.S. President Donald Trump’s aggressive rhetoric and trade policies. Trump’s threats to annex Canada as the “51st state” and impose steep tariffs on Canadian goods galvanized voters, turning Carney’s Liberal Party from underdogs to champions of Canadian sovereignty. Carney’s campaign centered on defending Canada’s independence and rebuilding its economy to reduce reliance on the United States. His experience as governor of the Bank of Canada and the Bank of England lent credibility to his promises of economic resilience. In his victory speech, Carney declared, “President Trump is trying to break us so that America can own us. That will never, ever happen”. The election results marked a stunning comeback for the Liberals, who were initially projected to lose to the oppositi...
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IKEA lowers prices in several countries to attract more customers

 

The price cuts, which will take effect from February 1, are part of IKEA’s strategy to boost sales volumes and market share in the wake of the pandemic, which disrupted global supply chains and increased shipping costs. IKEA said it aims to bring prices back to pre-pandemic levels by the end of next year.

Some of the products that will see lower prices are KALLAX storage cubes, BILLY bookcases, and MALM bed frames. IKEA is already selling more of these products in some countries, according to Tolga Oncu, Ingka Retail Manager at Ingka Group, the biggest owner of IKEA stores.

“When you lower the price you also need to see a volume increase,” Oncu said. “Every country is sitting and looking at where are the opportunities for us to, by lowering the prices, sell more pieces.”

IKEA is not the only retailer that is adjusting its prices in response to changing market conditions. Other companies, such as Walmart and Target, have also lowered or raised prices on certain items to cope with inflation and supply chain issues.

IKEA, which operates in 52 markets, said it has invested more than 1 billion euros ($1.08 billion) in price reductions across its markets from September to November. The company also said it is not expecting any major impact from the recent disruptions in the Red Sea, which have affected global freight movements.

IKEA is owned by a separate company, Inter IKEA, which manufactures all IKEA products. Ingka Group is the main global franchisee of IKEA. 

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