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IKEA Stores Owner Ingka Accelerates Investments to Cut Emissions | Investing News

STOCKHOLM (Reuters) – Ingka Group, the owner of most IKEA stores, plans 600 million euros ($712 million) in sustainability-related investments over the next 12 months as the world’s biggest furniture brand aims to be climate positive throughout its value chain by 2030.

The plan is to spend a third on renewable energy, a third on stakes in innovative start-ups, and a third on making its stores and warehouses more sustainable, Chief Financial Officer Juvencio Maeztu told Reuters.

Renewable energy in China and Russia is on the cards, as are companies that could be of help in increasing the reuse, resale and recycling of IKEA products. IKEA buildings that do not yet have renewable energy-powered heating and cooling would be retrofitted to that end, he added.

IKEA is made up of several companies. Ingka, a franchisee to Inter IKEA, besides its retail operations also invests in start-ups, renewable energy, forests and

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Singapore Airlines to cut 4,300 jobs due to pandemic, most in its history

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Wells Fargo: 3 Stocks That Could Climb Over 50%

A speculative fever from the bulls pushed the market to historic heights, but have the bears now been vindicated? Following a record breaking five-month rally, stocks have dipped from their record highs. The recent decline had been preceded by warnings, which had been making the rounds for weeks, that a reality check was overdue. Weighing in for Wells Fargo, senior global equity strategist Scott Wren stated, “We have not had much give back in this gigantic run that we’ve had. So inevitably the stock market sell-off was bound to happen.” This, however, is not to say that exciting plays can’t be found in the current financial environment. “Certainly, pullbacks are opportunities in our minds,” the strategist explained.Taking Wren’s strategy to heart, the analysts at Wells Fargo are pounding the table on three stocks. According to these pros, each could gain

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Ford to Cut 1,000 North America Salaried Jobs Amid Overhaul

(Bloomberg) — Ford Motor Co. is preparing to trim about 1,000 salaried jobs in North America, looking to its home market for savings as part of an $11 billion global restructuring begun two years ago as it projects an operating loss this year.

The job cuts are aimed at improving the automaker’s efficiency and are not related to rising costs from the coronavirus pandemic, said people familiar with the action on Monday who asked not to be identified revealing internal plans. An announcement could come as early as this week, the people said.

Ford is in the midst of a sweeping reorganization as it seeks to reverse declining fortunes and achieve what Chief Executive Officer Jim Hackett calls financial “fitness.” The company expects to report a full-year operating loss for the first time in a decade.

Last year, Ford closed plants and eliminated thousands of jobs in Europe, where it

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