OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
IKEA's shuttered stores and warehouses in Russia are reportedly being eyed by local furniture chains - Tvoi Dom and Hoff. The Russian brands are both interested in acquiring the Swedish-founded, Dutch-headquartered furniture retail company after it has curtailed its business in the country.
As per Reuters, IKEA's assets in the Vladimir Putin-led country are now up for sale, and many local firms have already expressed interest in them. The company initially closed down its store outlets in March after Moscow ordered its soldiers to attack Ukraine with the intention of invasion.
In response to the action, sanctions from the West were imposed on Russia. Since then, major companies and global brands have been withdrawing their business operations.
Following its temporary closure four months ago, IKEA was not able to re-open and finally made the decision to just sell its factories, and this was revealed last week. When the sale was announced, Russian companies are joining the bid to buy the furniture retail firm's assets.
"Management is ready to consider commercial proposals for the acquisition of IKEA's assets - retail and production sites," Amina Tagieva, Tvoi Dom's spokesperson, told local publication Tass and other news agencies on Friday.
While it released a statement regarding its acquisition attempt, Tvoi Dom did not disclose any other details about it. In any case, IKEA is also exploring different options on what it should do to its 17 shuttered furniture outlets. IKEA still continues to pay its workers since its closure in March and with its move to sell its assets, the company will reduce the size of its 15,000-strong workforce.
"On 3 March, Inter IKEA Group and Ingka Group announced the pausing of IKEA operations in Russia and Belarus as a consequence of the war in Ukraine. Since then it has been a priority to provide support and security to co-workers, and the groups of companies have been able to guarantee 6 months' salary for all co-workers, as well as core benefits," IKEA said in an announcement explaining its decision to scale down its business in Russia and Belarus.
The company went on to say, "Unfortunately the circumstances have not improved and the devastating war continues. Businesses and supply chains across the world have been heavily impacted and we do not see that it is possible to resume operations any time soon."
