Ikea raises prices over supply chain, DHS to test EV cars, Santander accidentally deposited $176M to customers

Yahoo Finance Live's Julie Hyman breaks down several of the leading industry headlines, including supply chain worries forcing Ikea to raise prices, the Department of Homeland Security planning to test Ford's electric Mustang for law enforcement vehicles, and Santander accidentally double depositing customer funds on Christmas Day.

Video transcript

JULIE HYMAN: Your discount Swedish furniture is about to get more expensive, which reminds me, I have a bookshelf that I still have to put together. IKEA is planning to raise prices by about 9% on average. That's according to "The Wall Street Journal." Ingka Holding is the largest owner and operator of IKEA stores and said in a statement, "IKEA continues to face significant transport and raw material constraints, driving up costs with no anticipated break in the foreseeable future. Price hikes will vary depending on product and location."

It's not just the NYPD that's interested in the Ford Mach-E electric vehicle, as InsideEVs reports the Department of Homeland Security is also considering an order as laid out in the executive order from President Biden last week. The order, which instructed the federal government to buy only zero emission vehicles by 2035, said DHS will begin field testing the Mach-E early next year.

And a European bank mistakenly paid everyone twice on Christmas. Not its own employees, but Spanish bank Santander deposited about $147 million into 75,000 accounts on December 25. About 2,000 businesses running payroll through the bank were affected. Now, Santander is trying to retrieve all of those payments. It's a job made more complicated by the fact that some of those deposits were made into accounts housed at other banks.