Ikea Net Profit Surges In 2023 As Sales Rise

Profits rebounded at Ikea from the previous year which was affected by the cost of pulling out from Russia
Swedish furniture giant Ikea saw a five-fold increase in net profit for its full-year 2023 which ended in August, boosted by rising sales, Ingka Group which owns most Ikea franchises said Wednesday.
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A number of carmakers, including Volkswagen, are confronting lacklustre sales of electric vehicles

VW Weighs Staff Reductions As Electric Shift Stalls

German car giant Volkswagen on Monday said that it was considering staff reductions, possibly in the form of early retirement, to help it meet vital cost-cutting targets imposed in its sputtering transition to electromobility.
Sam Bankman-Fried founded FTX, a crypto exchange that collapsed spectacularly in 2022

The Fallen Kings Of Crypto

Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period chaotic even by the standards of the notoriously volatile industry.
It remains unclear whether Sam Altman will return to OpenAI amid rival reports that he has taken a job with Microsoft and that the board members at OpenAI who ousted him are trying to lure him back

The Twists And Turns Of An OpenAI Meltdown

Silicon Valley star Sam Altman was suddenly ousted from the top spot at OpenAI as it led the race to artificial intelligence, only for the ambitious tech guru to be scooped up by Microsoft.
Microsoft CEO Satya Nadella, pictured right, hired Sam Altman, left, after his surprise ouster as head of OpenAI

Altman Drama: Twist In Seven-Year Microsoft, OpenAI Relationship

Microsoft's hiring of ousted OpenAI CEO Sam Altman on Monday marks another twist in the seven-year-old partnership between the US giant and the startup that created ChatGPT. Here are key moments in the history of their partnership: - Founded as a non-profit - OpenAI is founded in 2015 by entrepreneurs and investors, including Sam Altman, Greg Brockman and Tesla chief Elon Musk.