The Starbucks logo and McDonald’s Golden Arches are being dismantled in Russia as the coffee and fast-food chains both withdraw from the country over the war in Ukraine. But Russians are still getting their fill of American fare like burgers and pizza, as Hard Rock Cafe and Sbarro are among the […]
Russia
Factbox: The Great Rebrand: Western business reborn in Russia under new names
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May 20 (Reuters) – McDonald’s Corp (MCD.N) is selling its restaurants in Russia to one of its current local licensees, who will reopen the branches under a new name yet to be decided – the most high-profile rebranding so far of companies extricating themselves from Russia. read more Scores of […]
Heineken fears Russia will take over business as it leaves country
Heineken expressed concern Monday that the Kremlin could attempt to seize its local operations as it looks to exit Russia following the invasion of Ukraine. The Dutch beer giant plans to sell off its Russia business after a strategic review concluded it was “no longer sustainable nor viable in the […]
Retailer Looks to Expand Its Russia Business As More Firms Pull Out
Russian arm of a French retailer wants to expand product variety at its stores, The Telegraph reported. The retailer said sales had increased since other brands halted operations in Russia, per the outlet. The decision to expand business comes as other brands have closed stores in Russia. Loading Something is […]
Citigroup, the biggest U.S. bank in Russia, will pull out more business.
Senator Joe Manchin III, a key centrist Democrat, announced on Monday that he would not support Sarah Bloom Raskin for a top position on the Federal Reserve, potentially dooming her chances for confirmation as Republicans show little appetite for placing a supporter of stricter bank regulation into the powerful role. […]
These companies continue to do business in Russia
The list of companies continuing to operate in Russia is shrinking by the minute, but dozens of corporations including multinational manufacturers and hotel chains are still doing business in the country despite intense public pressure to withdraw over its invasion of Ukraine. McDonald’s was among the big-name companies to announce last […]
McDonald’s, Starbucks, Coke and Pepsi all halt sales in Russia
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Iconic American companies make a statement Shell to withdraw entirely from Russia Nickel trading halted in London after price surge Volkswagen stops taking orders for plug-in vehicles NEW YORK, March 8 (Reuters) – McDonald’s, PepsiCo, Coca-Cola and Starbucks stopped sales of their best-known products in Russia on Tuesday, offering a […]
International Companies Close Ukraine Offices, Factories After Russia Attack
Companies operating in Russia and Ukraine began putting into place contingency plans, as they confronted a host of challenges and sliding share prices following Moscow’s attack. Executives began closing offices and factories Thursday, ensuring staff were safe and sending some to the Polish border, while weighing factors likely to hit […]
Ukraine and Russia Fear Bank Runs, Which Hurt US Amid Great Depression
After Russia invaded Ukraine Thursday, people in both countries started withdrawing cash from banks. It’s led to fears of bank runs, which triggered turmoil in the US during the Great Depression. Bank runs can lead to bankruptcy, unemployment, lending shortages, and closed businesses. Loading Something is loading. Many of the […]
Russia Has 50% of Ground Combat Units on Ukraine Border: UK MOD
The UK said Thursday that Russia has 50% of its ground combat units at Ukraine’s border. The warning came as Biden said there was a “very high” chance Russia will invade Ukraine soon. Western powers are scrambling to secure a diplomatic solution to the crisis, with little success. Loading Something […]