Golden arches to go dark in Russia as McDonald's (MCD) exits after 30 years -Its Stock Is Barely Budging. Grizler
McDonald's Corp on Monday became one of the largest companies in the world to leave Russia, setting plans to sell all its restaurants after operating in that country for more than 30 years following the Ukraine invasion.
On March 24, a few weeks before he promised to buy Twitter, Elon Musk posted a survey on social media: "Twitter's algorithm should be open source," he wrote, with ways for users to vote "yes" or "no." Some Twitter technology is already open source, which means it is publicly available for anyone to ...
Amazon is facing legal consequences for its history of expelling protest participants. Reports that Judge Benjamin Green has ordered Amazon to reinstate warehouse employee Gerald Bryson, who was fired from his position at the JFK8 facility on Staten Island (recently voted for merger) after allegedly violating language policies during COVID security. -1...
Elon Musk is the second richest man in the world, with an estimated net worth of $ 155bn. He has founded some of the world’s most successful tech companies from PayPal to Tesla, and his voice weighs heavily on technology circles, but his influence on the crypto market is astoundi...
Posted By
Grizler
0
0
They just revealed what they believe are the ten best stocks for investors to buy right now…
The world's largest burger chain, which owns about 84% of the nearly 850 restaurants in Russia, will be charged a non-monetary fee of up to $ 1.4 billion following its sale.
McDonald's in March decided to close down its restaurants in the country, which includes the iconic Pushkin Square building in central Moscow - a symbol of the prosperity of American capitalists in the dying coal of the Soviet Union.
The burger chain represented the meltdown of the Cold War and became a means of sampling Western food and the spirit of millions of people, though burger costs were many times greater than the daily budget of most urban dwellers.
"Some may argue that providing access to food and continuing to employ tens of thousands of ordinary citizens is the right thing to do," Chief Executive Officer Chris Kempczinski wrote in a letter to workers. "But it is impossible to ignore the humanitarian crisis caused by the Ukrainian war."
Although many shops in Russia are closed, a few shops with franchises remain open, gaining a surprising popularity of McDonald's.
Over the weekend, long lines were seen at the restaurant at Leningradsky Station in Moscow, one of the only major branches in the capital, which had been opened, photos were posted on social media.
The company last year generated about 9%, or $ 2 billion, of revenue from Russia and Ukraine.
KEEP MARK
McDonald's is looking to sell restaurants to a local consumer and will not allow stores to use its name, logo, logo and menu, keeping its trademark in Russia.
"This (trademark) gives them a long-term option so that they can re-enter the market," said Edward Jones analyst Brian Yarbrough.
The company said it would ensure that its 62,000 employees in Russia continue to be paid until any transaction closes and that they have future jobs with any potential buyer.
McDonald's restaurants are expected to reopen under new ownership in June, a source close to the Russian company said.
"It conflicts with McDonald's financially, but it shows that Western companies and companies calculate that they will not be able to do business in Russia or that the costs, including the cost of dignity, are very high," said Paul Musgrave, a professor of political science. The University of Massachusetts, it said.
Earlier, French carmaker Renault said it would sell most of its Avtovaz to a Russian scientific center, as companies struggled to comply with sanctions and face threats from the Kremlin that it might seize foreign goods.
%20exits%20after%2030%20years%20-%20Grizler.jpg)
