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Apple has become the latest major firm to halt all product sales in Russia, in a widening corporate backlash to the country’s invasion of Ukraine. The tech giant was said it was “deeply concerned” about the Russian invasion and stands with those “suffering as a result of the violence”. Apple Pay and other services such as Apple Maps have also been limited. Nike did not comment on the conflict but customers are no longer able to order its products online. An automated message said Nike was halting online orders because it could not guarantee delivery of goods to customers in Russia. However, the website directed customers to their nearest Nike stores. One Ukrainian member of parliament, Lesia Vsylenko, tweeted that the sportswear giant’s move was a great example of how private companies could impose sanctions against Russia A series of high profile brands have pulled back from Russia in recent days, including film studios, carmakers and technology firms. Google has removed Russian state-funded publishers such as RT from its features.

Apple''s move to "pause" doing business in Russia in reaction to its invasion of Ukraine may be viewed as merely political, considering the enormity of Western government sanctions against the former Soviet state. But as brands know, symbols carry their own particular potency. The Cupertino tech giant joined Nike and Google as the two other…

Futures Rebound On Hopes Of Resuming Ukraine Negotiations, Oil Soars To Decade High U.S. futures and European stocks rose on Wednesday after the Kremlin said Russia was ready to resume negotiations with Ukraine. Nasdaq 100 contracts were up 0.7% by 730 a.m. ET reversing earlier declines of as much as 0.8%. S&P 500 futures rose 0.5%, while Dow futures gained 0.7%. Oil soared with Brent trading above $111 as traders realized that Russian oil output will be substantially reduced despite sanction loopholes. The dollar rose and 10Y yields rose. Among notable premarket movers, Salesforce.com shares climbed as much as 3.9% after the enterprise software company forecast first-quarter revenue above estimates, while Nordstrom Inc. surged 34% as its sales and guidance for 2022 both topped expectations. SoFi Technologies Inc. also gained 21% on better-than-expected quarterly results. Hewlett Packard Enterprise climbed after raising its profit forecast. Bank shares also rose, putting them on track to rebound from their worst day since June 2020.

Nike is among the major global brands to be reducing services in Russia on account of the Russia-Ukraine conflict.

TOKYO, March 02, 2022 (GLOBE NEWSWIRE) -- The SocialGood App, which gives users cryptocurrency rewards for shopping, has raised $14.2 million in Series A funding from a venture capital firm. The SocialGood App (available on iOS and Android) is partnered with more than 1,800 major online stores, including AliExpress, eBay, Nike, and more. When users shop at partner sites through the app, they earn back up to 100% in SocialGood (SG) crypto. The app''s user base, primarily in the United States, is growing exponentially worldwide, increasing by over 5x in three months to exceed 1.85 million users by the end of January 2022. This exponential growth is due to the network effect at work, as the history of Bitcoin has shown. As SocialGood App users increase, the value of SG crypto increases, so the app''s value also increases as it provides SG. This attracts even more users, creating a positive cycle of growth. Social Good Foundation Inc. has registered 68 patents in Japan for this innovative Crypto Back business model.

Russia’s invasion of Ukraine last week brought global condemnation, trade restrictions and financial penalties. Now the nation of 145 million is losing many of the world’s most iconic brands.

Taken together, the moves reflect a cultural and commercial split unseen since the Cold War ended in the late 1980s

Nike announced on its Russian website on Tuesday it "cannot guarantee delivery of goods to customers in Russia.”

The brand has halted sales on its Russian website and app.

Apple, Ford Lead Latest Round Of US Companies Cutting Russia Ties As another market day comes to an end in the US, another flurry of American companies have announced plans to cut ties with Russian business partners, or simply stop selling their products in the Russian Federation. These companies include Apple, Nike, Ford and others, all of whom have released statements on Tuesday. For starters, Apple has halted all product sales in Russia, while halting exports to Russia sales channels. It''s also pulling RT News and Sputnik News from App Stores outside of Russia, and is disabling traffic and live incidents in Apple Maps in Ukraine. Here''s the full Apple statement on Russia, where it announced plans to limit Apple Pay and other services, while taking other steps to protect Ukrainians and their interests. "We are deeply concerned about the Russian invasion of Ukraine and stand with all of the people who are suffering as a result of the violence. We are supporting humanitarian efforts, providing aid for the unfolding refugee crisis, and doing all we can to support our teams in the region.

The major market benchmarks opened lower and losses accelerated amid reports that Russia is targeting civilian areas in Ukraine, including Kharkiv, the country''s second-largest city. Additionally, after warning of "high-precision strikes," Russian forces on Tuesday hit a TV tower in Kyiv. "The crisis in Ukraine is evolving rapidly, and with it so are investor expectations for international relations, commodity prices, inflations, the corporate operating environment and company margins," says Lauren Goodwin, economist and portfolio strategist at New York Life Investments. SEE MORE 7 Energy ETFs for Rising Oil & Gas Prices "As the crisis unfolds, equities could bounce if developments point to contained conflict and lighter sanctions, while equities could deteriorate in moments of escalation." Today, stocks crumbled as the attacks intensified, with financials (-3.7%) the worst-performing sector amid notable losses in blue chips American Express ( AXP , -8.5%), Goldman Sachs ( GS , -3.2%) and JPMorgan Chase ( JPM , -3.8%).

Apple Inc. and Nike Inc. have both shut down their respective online stores in Russia on Tuesday. The tech giant confirmed the news in a statement it sent to the United States media and added that it…

(Reuters) – Nike Inc has made merchandise purchases on its website and app unavailable in Russia as it cannot guarantee delivery of goods to customers in the country, an update on the sportswear maker’s website showed on Tuesday.

https://www.investing.com/news/stock-market-news/nike-makes-online-sales-unavailable-in-russia-2775534

Putin Bans Cash Exports From Russia Exceeding $10,000 In Stabilization Effort Russia said Tuesday it''s not yet fully responded to the avalanche of Western and US sanctions of the last days which were triggered in the wake of the invasion of Ukraine. Foreign Ministry Spokeswoman Maria Zakharova warned that the populations of the West have not yet begun to feel what''s coming . "They (people in the West - TASS) know why they have such prices on energy sources. They know what is going on in various sectors of their economies and they understand that their leaders, who opted for this choice, have triggered corresponding processes in their own countries and must understand that," she said during an interview with a Russian state broadcaster. "I would like to note once again: Russia has not yet imposed response measures," she emphasized. But Russia has initiated further financial stabilization efforts amid the ratcheting economic war from the West. Confirming his statement from yesterday that we discussed as likely to prompt an immediate bid for the ''freedom'' of crypto , Putin late in the day Tuesday (local time) issued a decree banning all cash exports of foreign currency that exceeds $10,000 in value , according to Reuters citing a Kremlin statement in Interfax .