SUPPLY CHAIN

Ikea expects shortages to last until mid-2022

Swedish home furnishings giant Ikea gave grim prospects for the retail sector, saying it expects shortages due to the supply chain crisis to remain a problem until the middle of next year. “The biggest challenge has been getting the products out of China, where capacity is very limited,†CEO Jon Abrahamsson Ring of Inter Ikea, the brand’s global franchisor, said in an interview. – BLOOMBERG NEWS

GAME

Nintendo’s new console makes disappointing debut at home

Nintendo’s new, more expensive Switch console made a weak debut in Japan despite pre-orders that sold out in minutes all over the country, a surprising result likely due to low supply due to a shortage of components. The OLED edition of the hybrid handheld, which launched worldwide on Friday for $ 350, sold 138,409 units domestically during its launch weekend, sales tracker Famitsu said Thursday. This compares to the inaugural weekend sales of the original Switch of 330,637 units in 2017 and the 177,936 units of the Switch Lite in 2019. – BLOOMBERG NEWS

FINANCE

Amex Platinum Card for Business Adds New Benefits – for a Price

American Express is adding rewards to its Platinum card for business owners as competition for new customers intensifies. The credit card giant has added a host of perks, including extra points for spending on items such as cloud services, building materials and shipping providers, according to a statement released Thursday. The company also adds a monthly statement credit of up to $ 10 on spending from wireless phone providers. AmEx is the nation’s largest provider of small business cards. The company, long known for its cards offering benefits related to travel and dining spending, has remixed the rewards in recent months to capture the different types of spending that occur during the pandemic. With the latest changes, AmEx will increase the annual fee for the Platinum card to $ 695, the same level as the Platinum card for consumers. – BLOOMBERG NEWS

ENERGY

European data centers will consume a lot of electricity by the end of the decade

The European data center industry will use significantly more electricity by the end of this decade, accounting for around a quarter of total electricity consumption in Ireland alone, according to BloombergNEF. The region’s transition to a digital economy will need more power centers to store and process large amounts of data, requiring more electricity to run and keep computers from overheating. This means that the demand for electricity at key market sites in Germany, the Netherlands, the United Kingdom, Norway and Ireland is expected to increase by around 80% to almost 48 terrawatt hours. ‘by 2030, BloombergNEF said. – BLOOMBERG NEWS

FAKE MEAT

Say hello to the McPlant burger

McDonald’s will begin testing its McPlant burger, which includes a patty developed with Beyond Meat, in the United States next month. The test will begin Nov. 3 at eight locations in Texas, Iowa, Louisiana and California, McDonald’s said in an emailed statement. The sandwich, which includes a plant-based burger patty, will be accompanied by cheese and mayonnaise and will be cooked on the same grill as the meat products and eggs, and therefore will not be vegan. – BLOOMBERG NEWS

PHARMACIES

Walgreens to expand medical practices in stores

Walgreens Boots Alliance has invested $ 5.2 billion in primary care provider VillageMD, doubling its stake in the company to 63%. The deal will bring the number of primary care practices located at Walgreens chain stores to more than 600 in 30 U.S. markets, the companies said in a statement. That number will grow to 1,000 by 2027, with more than half of practices located in underserved communities, the companies said. – BLOOMBERG NEWS

MORTGAGES

Rates are on the rise again

After a brief pullback last week, mortgage rates resumed their ascent. According to the latest data released Thursday by Freddie Mac, the 30-year fixed rate average has climbed to 3.05%. It was 2.99% a week ago and 2.81% a year ago. The 15-year fixed rate average jumped to 2.3%. It was 2.23% a week ago and 2.35% a year ago. – WASHINGTON POST

MEDICATIONS

Indian drug maker recalls blood pressure pills

A unit of Indian drug maker Lupine Ltd. has issued a voluntary US-wide recall of certain batches of two blood pressure pills over concerns about potentially carcinogenic impurities. Lupine Pharmaceuticals Inc. has issued a recall for irbesartan tablets and irbesartan and hydrochlorothiazide tablets after its analysis found that certain batches of these drugs contained levels above the permitted levels of the carcinogen, N-nitrosoirbesartan. likely, the company said in a statement to the exchanges. Sanofi also recalled certain irbesartan-containing drugs from Canada in June for high levels of azido impurities, which are mutagenic, meaning they can alter a person’s DNA and potentially increase cancer risk. . He sold some of these same drugs in the United States. Lupin’s drug recall comes after millions of blood pressure pills have been pulled from shelves by various drugmakers over the past three years for containing another likely carcinogenic chemical called N-nitrosodimethylamine. – BLOOMBERG NEWS

AIRLINES COMPANIES

United expand in Europe, betting on travel rebound next summer

United Airlines is forecasting its biggest expansion in Europe, anticipating an increase in pent-up demand after two years of low bookings due to the coronavirus pandemic. The significant increase in transatlantic capacity reflects the airline’s expectation that next summer will provide record traffic. Among the new routes, United is adding five destinations from May and June: Amman, Jordan; Bergen, Norway; Azores, Portugal; Palma de Mallorca, Spain; and Tenerife in the Canary Islands. None of those locations are served by North American carriers, United said. – BLOOMBERG NEWS

PIZZA

Domino’s cannot find cooks or delivery people

Domino’s is failing to recruit enough people to cook and deliver pizza, hampering sales in the company’s most recent quarter. “Our backlog in the US in the third quarter was under pressure from a very difficult staffing environment,†Treasurer JessicaParrish said on a conference call Thursday to discuss the results. A shortage of workers has forced some stores to cut their opening hours, while others have had customer service issues, she added. – BLOOMBERG NEWS

FINANCE

Four big banks post healthy profits

Four of the largest U.S. banks said their profits rose double-digit in the last quarter as a healthier U.S. economy allowed banks to have fewer bad debts and write-offs. But the results of Citigroup, Bank of America, Wells Fargo and Morgan Stanley have benefited from one-off increases in earnings, and low interest rates remain a significant obstacle for the financial titans of Wall Street. – ASSOCIATED PRESS