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Articles with tag "business"

increasing income

Tech Giant Yandex Reports Rising Revenues Despite Sanctions

Russian tech group Yandex announced on Thursday that its revenues continued to climb during the third quarter, despite Russia being under Western...
opinion Victor Davidoff

Are Western Brands as Serious About Withdrawing From Russia as They Appear?

Last week, Mercedes-Benz became the latest Western company to announce that it had sold off its assets in Russia – including its factory outside...
untenable operations

Bridgestone Seeks Local Buyer for Russian Business

Japanese tiremaker Bridgestone said Monday it was seeking a local buyer for its business in Russia due to "general uncertainty and the ongoing...
latest departure

Mercedes-Benz to Sell Off Russian Assets to Local Investor

German carmaker Mercedes-Benz is expected to sell its Russian assets to a local investor, the Russian Industry and Trade Ministry said Wednesday, becoming...
market exit

Zara Owner Inditex Says to Sell Russian Stores

Spanish fashion retailer Inditex said Tuesday would sell its stores in Russia, seven months after the Zara owner halted its operations in the country following...
cutting ties

ExxonMobil Exits Russia With ‘Unilateral Termination’ of Sakhalin-1 Assets

American oil giant ExxonMobil has completed its exit from the Russian market after President Vladimir Putin ordered the expropriation of its assets, the...
Cancel culture

Danone Plans to Withdraw From Most of its Business in Russia

French food giant Danone announced plans on Friday to transfer the control of its essential dairy and plant-based business in Russia, retaining only its...
End of the road

IKEA announces 10,000 layoffs in Russia

Swedish furniture giant IKEA announced that it would be making around 10,000 of its remaining Russian staff redundant on Thursday, despite posting a 6%...
draft downturn

'Everything Has Collapsed': Mobilization Tanks Small Businesses

In his brand new co-working space in Chelyabinsk, a city in central Russia, entrepreneur Maxim Novikov is counting the empty seats. The space is usually...
anti-war gesture

Silicon Valley Billionaire Milner Renounces Russian Citizenship

Billionaire Silicon Valley investor Yuri Milner said Monday he had renounced his Russian citizenship. "My family and I left Russia for good in...
going flat

PepsiCo Ends Production in Russia – Reuters

The move comes nearly six months after the company promised to suspend production in response to Moscow’s invasion of Ukraine.
High-res exodus

IMAX Bans Russian Film Screenings Within Russia, Chain Owner Says

Russian cinemas require explicit permission from IMAX to screen movies in a high-resolution format despite the technical capabilities to do so.
uncanny resemblance

Pro-Kremlin Rapper Unveils Starbucks' Russian Successor

The rebranded Stars Coffee is owned by pro-Kremlin rapper Timati and restaurateur Anton Pinskiy.
'impossible' situation

H&M to Wind Down Operations in Russia – Company

H&M said it would reopen stores in Russia "for a limited period of time to sell remaining inventory" as part of the exit process.
relocation hub

Kazakhstan Seeks to Attract Foreign Brands Exiting Russia

Kazakh President Tokayev called on creating “favorable conditions” for the businesses that left Russia over its invasion of Ukraine.
business exit

Lego to Cease Russian Operations 'Indefinitely,' 81 Stores Impacted

The world's largest toymaker cited the "continued extensive disruption in the operating environment."
bath bomb bust

Lush Cosmetics Forced Out of Russia by Supply Crunch – Kommersant

Russia’s new “parallel imports” scheme has been unable to revive supplies.
seizing opportunity

Russia Replaces Disappearing Western Gadgets With Chinese Brands

Analysts interviewed by Kommersant said they expect well-known Chinese brands to cement their leadership in the Russian market. 
'context of uncertainty'

Michelin Tire Group to Give Up Russia Business

The French tire maker will transfer its activities in Russia to local management.
ending presence

Cisco Announces Wind-Down of Operations in Russia, Belarus

A growing number of Western businesses are now completely exiting Russia instead of keeping their operations suspended. 
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