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Multinationals are fleeing Russia in a huge exodus

Published

4 years ago

March 1, 2022

ticker NEWS

Large multinational companies are fleeing Russia, as the international community moves to isolate the nation over its invasion of Ukraine.

From oil giants to media companies and sporting bodies, Russia is facing a multi-billion dollar exodus.

For decades, Russia was promising to be the new frontier. Even Donald Trump had hoped to build a Trump tower in Moscow.

But it shouldn’t have been a surprise that it would end this way. After all, look at the mess Donald Trump walked into. The first two years of his Presidency mired in scandal over his dealings with Russia.

Western oil and gas companies have spent decades and billions of dollars making investments in the country, linking the vast natrual reserves to customers across Europe.

But not anymore. Perhaps it was never as easy as they thought it would be, though energy companies are used to doing high business in low places.

Now, one by one, companies like Shell and BP are heading for the exit, as they weigh up the damage to their reputation if they do business with Vladimir Putin.

Shell pulled out on Monday, and warned investors it would face impairments for doing leaving. Whatever the price, it was worth it.

Experts say if multinational businesses are willing to walk away, many other industries will follow.

The music stops

Disney pulled plans to open its latest stage show in Russia’s capital city. Warner Bros, Sony and Disney have cancelled distribution plans for their upcoming films.

It’s not just their corporate reputations on the line, but also the key question: how to do business when the sweeping sanctions hit Russia.

It’s complicated their ability to even think about surviving in Russia.

Then there’s BP, which has often defended Putin’s regime. Now they’ve had enough too, deserting a 20 per stake in Russia’s state owned energy firm Rosneft – the energy giant with assets worth over $200 billion dollars. But for much longer?

American freight companies FedEx and UPS have also cut off Russia.

The US sanctioned Moscow following the 2014 invasion of Crimea. But European companies are far more exposed. Perhaps they had no choice but to dance with the devil, after all the rush to end emissions and close coal power stations only forced their dependency on Russian gas.

Now the world is waiting for the Kremlin’s response. And the biggest mystery is whether Russia will retaliate and cut off the gas to millions of Europeans.

Afterall without SWIFT, how could they possibly pay?

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Tropfest sparks debate with controversial AI-generated short film

Tropfest sparks debate over AI-generated films, impacting creativity and traditional filmmaking in the festival circuit. #AIinFilm

Published

2 days ago

February 26, 2026

Harvey Vargas

Tropfest sparks debate over AI-generated films, impacting creativity and traditional filmmaking in the festival circuit. #AIinFilm

Tropfest, the world’s largest short film festival, caused a stir in Sydney with the screening of a controversial AI-generated short film. The festival’s decision has reignited debates over the role of artificial intelligence in filmmaking and the impact on creative industries.

Filmmakers and audiences are divided. Some praise the innovation, while others question whether AI films should compete alongside human-directed works. The controversy also raises questions about jobs, creative ownership, and ethical considerations in using AI.

Darren Woolley from TrinityP3 weighs in on whether AI could become a legitimate creative partner or if it risks undermining traditional storytelling.

The Tropfest inclusion may mark a turning point for film festivals worldwide in how they embrace or regulate AI content.

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#AIinFilm #Tropfest2026 #ShortFilms #FilmFestivalDebate #AIFilmmaking #CreativeFuture #DigitalCinema #FilmInnovation

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Australian workers using AI in Fair Work claims spark concern

Fair Work Commission tightens rules on AI-assisted claims amid rising inaccuracies, urging verification and legislative reform.

Published

3 days ago

February 25, 2026

Harvey Vargas

Fair Work Commission tightens rules on AI-assisted claims amid rising inaccuracies, urging verification and legislative reform.

The Fair Work Commission is seeing a dramatic rise in inaccurate claims as Australian workers increasingly use AI tools like ChatGPT to file submissions. The surge in AI-assisted applications has prompted the commission to tighten rules, requiring applicants to disclose AI usage.

Dr Karen Sutherland from Uni SC discusses how generative AI is impacting the operations of the commission and why careful verification of claims is critical. Justice Adam Hatcher has highlighted the challenges this influx presents and is urging federal legislative reform.

The FWC’s caseload is expected to grow significantly by the end of the current financial year, putting pressure on the commission to maintain accuracy and fairness while managing a higher volume of claims.

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The real timeline for AI job disruption shows 2030 as the earliest risk

Experts predict gradual AI impact on labor market, downplaying fears of widespread job losses by 2028. #AIImpact #FutureOfWork

Published

3 days ago

February 25, 2026

Harvey Vargas

Experts predict gradual AI impact on labor market, downplaying fears of widespread job losses by 2028.

Experts are weighing in on the future of AI and the labor market, suggesting that while technological transformation is inevitable, widespread job losses by 2028 are unlikely. Despite doomsday reports predicting massive upheaval, historical trends and enterprise adoption constraints point to a more gradual shift.

Brad Gastwirth from Circular Technologies breaks down the factors shaping AI’s real-world impact. From government policies to consumer demand and supply chain signals, we explore why a sudden collapse in the labour market is considered improbable and what that means for businesses and workers alike.

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#AIImpact #FutureOfWork #LaborMarket #ArtificialIntelligence #TechTransformation #ProductivityBoost #EnterpriseAI #EconomicTrends