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May 24, 2022

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Factbox: The Great Rebrand: Western business reborn in Russia under new names

Reuters
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......

McDonald’s to sell Russia restaurants to local operator, rebrand

Reuters
A sign with the logo is on display outside a McDonald’s restaurant in Omsk, Russia May 18, 2022. Picture taken with a drone. REUTERS/Alexey Malgavko Register now for FREE unlimited access to Reuters.com Register May 19 (Reuters) – McDonald’s Corp (MCD.N) is selling its restaurants in Russia to one of......

McDonald’s to exit Russia after more than 30 years

Reuters
A logo of the McDonald’s restaurant is seen in the window with a reflection of Kremlin’s tower in central Moscow, Russia March 9, 2022. REUTERS/Maxim Shemetov Register now for FREE unlimited access to Reuters.com Register May 16 (Reuters) – McDonald’s Corp (MCD.N) said on Monday it has started a process......

China COVID hard line eats into everything from Teslas to tacos

Reuters
SHANGHAI, May 2 (Reuters) – When Tesla’s (TSLA.O) Shanghai plant and other auto factories were shut over the last two months by emergency measures to control China’s biggest COVID-19 outbreak, the burning question was how quickly they could restart to meet surging demand. But with the Shanghai lockdown grinding into......

Just Eat Takeaway.com agrees delivery partnership with McDonald’s

Reuters
AMSTERDAM, March 22 (Reuters) – Just Eat Takeaway.com (TKWY.AS), Europe’s largest online restaurant food ordering service, said on Tuesday it has entered a “long-term global strategic partnership” with McDonald’s Corp. (MCD.N) to expand delivery. Financial details were not disclosed. The partnership will “support growth of the McDelivery business and will......

Yum China dives as U.S. regulators take issue with audit

Reuters
A woman walks out a KFC restaurant in Beijing February 25, 2013. REUTERS/Kim Kyung-Hoon/File Photo Register now for FREE unlimited access to Reuters.com Register Yum China says may de-list in 2024 Four other U.S. listed Chinese firms face de-listing SHANGHAI, March 11 (Reuters) – Shares in Yum China (9987.HK), and......

Hang Seng slumps to 68-month closing low; hopes on Sino-U.S. talks lift A-shares

Reuters
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S. REUTERS/Andrew Kelly/File Photo Register now for FREE unlimited access to Reuters.com Register Hang Seng -1.6% CSI300 +0.3%, SSEC +0.4% China, U.S. regulators expected to reach consensus soon -source Hang Seng Tech......

Japan’s Uniqlo makes U-turn to exit Russia as Britain hits oligarchs

Reuters
March 10 (Reuters) – Japanese brands Uniqlo and Japan Tobacco made U-turns and said they were stopping business in Russia, joining the corporate crowd shunning Moscow on Thursday, and Britain escalated sanctions against oligarchs including Chelsea soccer club owner Roman Abramovich. Investment bank Goldman Sachs (GS.N) became the first U.S.......

Rio Tinto slashes ties with Russian businesses over Ukraine war

Reuters
The Rio Tinto logo is displayed on a visitor’s helmet at a borates mine in Boron, California, U.S., November 15, 2019. REUTERS/Patrick T. Fallon Register now for FREE unlimited access to Reuters.com Register March 10 (Reuters) – Rio Tinto (RIO.L), (RIO.AX) on Thursday became the first major mining company to......

Nestle, tobacco groups latest companies to pull back from Russia

Reuters
March 9 (Reuters) – Nestle(NESN.S), Philip Morris (PM.N)and Imperial Brands (IMB.L)joined the list of multinationals stepping back from Russia on Wednesday as pressure mounts from consumers in the West to take a stand against the invasion of Ukraine. The world’s biggest packaged food group fell into line with rivals Procter......

McDonald’s, icon of post-Soviet era, to close all restaurants in Russia

Reuters
NEW YORK, March 8 (Reuters) – McDonald’s Corp (MCD.N) said on Tuesday it would temporarily close all 847 of its restaurants in Russia including its iconic Pushkin Square location, increasing pressure on other global brands to pause operations in the country following Moscow’s invasion of Ukraine. The closure of the......

Billionaire investor Icahn nominates two members to McDonald’s board

Reuters
The McDonald’s logo is seen outside the fast-food chain McDonald’s in New York, U.S., October 22, 2019. REUTERS/Shannon Stapleton/File Photo Register now for FREE unlimited access to Reuters.com Register Feb 20 (Reuters) – McDonald’s Corp (MCD.N) on Sunday said Carl Icahn has nominated two members to the board of the......

Shake Shack’s slim sales forecast disappoints

Reuters
Feb 17 (Reuters) – Shake Shack Inc (SHAK.N) forecast first-quarter revenue below estimates as the fast-spreading Omicron variant kept dine-in customers away and led to store closures due to labor shortages, sending the burger chain’s shares down 10% in extended trading. Benefits from easing COVID-19 Delta infections were short-lived for......

Burger King pulls Whopper off discount menu; parent RBI to hike prices

Reuters
Feb 15 (Reuters) – Burger King parent Restaurant Brands International Inc (QSR.TO) said on Tuesday that it stripped its most famous sandwich, the Whopper, from discount menus and will raise menu prices again this year as to offset higher costs. U.S.-listed shares of the company rose more than 3% after......

Rising costs, pandemic curbs take a bite out of McDonald’s profit

Reuters
Customers are seen at a McDonald’s fast food restaurant in Tokyo, Japan, September 26, 2017. REUTERS/Kim Kyung-Hoon/File Photo/File Photo Register now for FREE unlimited access to Reuters.com Register Jan 27 (Reuters) – McDonald’s Corp (MCD.N) missed revenue and profit expectations on Thursday, as higher costs and dismal sales in its......

Ackman’s Pershing Square takes new position in Netflix

Reuters
Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake/File Photo Register now for FREE unlimited access to Reuters.com Register BOSTON, Jan 26 (Reuters) – Billionaire investor William Ackman has built a new stake in......

Starbucks links with Amazon Go for first cashier-less cafe

Reuters
NEW YORK, Nov 18 (Reuters) – Starbucks Corp’s (SBUX.O) newest cafe lacks one element most customers are used to seeing: cashiers. The global coffee chain on Thursday opened its first ever location in partnership with Amazon Go (AMZN.O), the e-commerce giant’s brick-and-mortar convenience store, where customers can sit at a......

Lawsuit over Subway tuna now says chicken, pork, cattle DNA were detected

Reuters
Nov 11 (Reuters) – A new version of a lawsuit accusing Subway of deceiving the public about its tuna products said lab testing shows they contain animal proteins such as chicken, pork and cattle, and not the advertised “100% tuna.” Karen Dhanowa and Nilima Amin filed a third version of......

Britain has 10 days to save Christmas, retail sector says

Reuters
Retail industry warns of significant disruption Queues form at some petrol stations – Reuters reporters Britain to boost HGV driver testing British ministers to meet on easing rules Hauliers: there is no quick fix LONDON, Sept 24 (Reuters) – Britain’s retail industry warned the government on Friday that unless it......

McDonald’s, others consider closing indoor seating amid Delta surge in U.S.

Reuters
NEW YORK, Aug 30 (Reuters) – Some U.S. fast-food restaurants are closing indoor seating areas or limiting hours of operation because of the spread of the Delta variant of COVID-19, according to franchisees. McDonald’s Corp (MCD.N) had temporarily closed indoor dining at nearly all U.S. locations in early 2020, but......

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