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Western exodus from Russia continues

Iconic international brands, Coca Cola, PepsiCo, McDonald’s and Starbucks, have all temporarily shut their businesses in Russia in response to the country’s invasion of Ukraine. The global firms took the decision to join several other companies to pull out of Russia following threats of boycotts for failing to shut down their businesses in Russia to protest the war. In a statement on Tuesday, McDonald’s said all 850 of its restaurants in Russia will close down but will continue to pay the 62,000 people who work for them there. McDonald’s owns 84% of its restaurants in Russia, and they contributed 9% of the company’s revenue last year. In a letter to employees, the company’s president and CEO Chris Kempckinski, said closing the outlets is the right thing to do because they cannot ignore the “needless human suffering in Ukraine”. Just hours after the McDonald’s announcement, Starbucks also announced it was “suspending all business activity in Russia, including shipment of its products and cafes run by a licensee.” The company said Kuwait-based Alshaya Group, which operates at least 100 Starbucks cafes in Russia, will “provide support to the nearly 2,000 partners who depend on Starbucks for their livelihood.” Read also: Russian President Putin lists unfriendly countries, vows ‘decisive actions’ Coca-Cola became the third international company to close shop on Tuesday when it released a statement that it was “suspending its business in Russia”. “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine. “We will continue to monitor and assess the situation as circumstances evolve,” a statement from the soft drink giant said.

Rolling coverage of the latest economic and financial news McDonald’s, Starbucks, Coca-Cola and Pepsi suspend Russian operations Saudi Arabia and UAE leaders ‘decline calls with Biden’ amid fears of oil price spike Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Russia is on the brink of defaulting on its debts, rating agency Fitch has warned, as the sanctions imposed since the Ukraine war batter its economy. The ‘C’ rating reflects Fitch’s view that a sovereign default is imminent. The further ratcheting up of sanctions, and proposals that could limit trade in energy, increase the probability of a policy response by Russia that includes at least selective non-payment of its sovereign debt obligations. Continue reading…

McDonald''s, PepsiCo, Coca-Cola and Starbucks stopped sales of their best-known products in Russia on Tuesday, offering a united rebuke of the war on Ukraine by companies that define America for much of the world. Flora Bradley-Watson reports.

Several major American food and beverage companies announced Tuesday that they would suspend their operations in Russia, a step that comes after days of mounting public pressure on the corporate world to sever ties with the country over the Kremlin''s invasion of Ukraine.

Starbucks Corp., which owns the world''s largest chain of coffee houses, is halting its business in Russia, including exports of its products to the country.

Consumer giants including McDonald''s, Coca-Cola and Starbucks have joined the list of firms halting business in Russia due to the invasion in Ukraine. Read More …

McDonald’s, Coca-Cola Co. and Starbucks Corp. are temporarily halting business operations in Russia. The iconic US brands are seen around the world as the face of US capitalism

Consumer giants including McDonald’s, Coca-Cola and Starbucks have joined the list of firms halting business in Russia due to the invasion in Ukraine. McDonald’s said it was temporarily closing its roughly 850 restaurants in Russia, while Starbucks also said its 100 coffee shops would shut, reports the BBC. McDonald’s said the move was a […]

Detroit: McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric – ubiquitous global brands and symbols of US corporate might – all have announced they were temporarily suspending their business in Russia in response to the country’s invasion of Ukraine. “Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,” McDonald’s President and CEO […]

Consumer giants including McDonald’s, Coca-Cola and Starbucks have joined the list of firms halting business in Russia due to the invasion in Ukraine. McDonald’s said it was temporarily closing its roughly 850 restaurants in Russia, while Starbucks also said its 100 coffee shops would shut. McDonald’s said the move was… The post McDonald’s, Coca-Cola and Starbucks halt Russian sales appeared first on Pattaya One News .

The company said that Kuwait-based Alshaya Group, which operates at least 100 Starbucks cafes in Russia, will "provide support to the nearly 2,000 partners in Russia who depend on Starbucks for their livelihood."

Iconic brands, PepsiCo, Coca-Cola, McDonald’s, and Starbucks have announced they are suspending business in Russia after that country’s invasion of Ukraine. The decision comes after Pepsi, Coke, McDonald’s and Starbucks drew criticism for continuing to operate in Russia while other U.S. companies announced suspensions and paused sales. Yale Professor Jeffrey Sonnenfeld had compiled and made public a list of U.S. companies that […]

?McDonald’s, Coca-Cola Co. and Starbucks Corp. are temporarily halting business operations in Russia?. The iconic US brands are seen around the world as the face of US capitalism

Coca-Cola, Starbucks, and Pepsi have joined McDonald’s in severing ties with Russia In response to the invasion of Ukraine, a string of huge brands have added their names to the massive list of firms that have cut ties with Russia, which is growing longer daily. Tuesday, March 8 has seen Coca-Cola, Pepsi, Starbucks, and, earlier […] The post Mass exodus sees Coca-Cola, Starbucks, and Pepsi, boycott Russia appeared first on Euro Weekly News .