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McDonalds set to close doors in Russia for good

Published

3 years ago

on

McDonald’s is set to close its doors in Russia for good, as Putin’s war on Ukraine wages on

The fast food giant had previously temporally closed all of its 850 outlets in March, and will now make the closures permanent.

The company says the ongoing “humanitarian crisis” alongside an “unpredictable operating environment” has made operating in Russia untenable.

McDonald’s has been operational throughout the nation for more than 30 years, with the opening of the first store back in 1990 being a symbol of a relaxation of Cold War tensions.

But three decades later, it is one of a number of western companies retreating from the country.

McDonald’s CEO says it’s a complicated issue without precedent and with profound consequences.

In a message to staff he added “it is impossible to imagine the Golden Arches representing the same hope and promise” that led the company to enter the Russian market 32 years ago.

McDonald’s has already begun selling off its stores, selling all its sites to a local buyer.

Every one of the 62,000 employees in Russia will continue to be paid until any sale is completed.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Stocks decline as tariffs and trade tensions escalate

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

Published

6 days ago

on

May 7, 2025

By

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

In Short:
Stock indexes declined on Tuesday after a nine-day winning streak, while gold prices soared amid economic concerns. Major companies like Ford and Mattel adjusted forecasts due to tariff impacts, and the trade deficit hit a record high of $140.5 billion.

Stock indexes fell on Tuesday, following declines in the Dow and S&P 500 after a nine-day winning streak.

Gold prices reached a new record as markets reacted to ongoing economic concerns.

The downturn persisted following a meeting between Canadian Prime Minister Mark Carney and President Trump, where Carney rejected any notion of Canada being for sale.

Investors showed continued apprehension about the impact of U.S. tariffs and the absence of new trade agreements, particularly as major companies like Ford and Mattel suspended annual guidance due to tariff uncertainties.

Ford impact

Ford, while less affected than competitors, estimated potential tariff impacts could reduce profits by $1.5 billion, prompting a 2.8% increase in its stock.

In contrast, Mattel’s stock rose by 2.6% after it signalled a potential increase in U.S. toy prices, anticipating a $270 million hit from tariffs, while also planning to move manufacturing from China.

Both WK Kellogg and Marriott International adjusted their financial forecasts downward due to tariff-related challenges and broader economic uncertainties.

Clorox shares fell sharply after the company updated its guidance to reflect tariff impacts.

Additionally, President Trump indicated he would announce the details regarding pharmaceutical tariffs within two weeks.

On a related note, new data revealed the trade deficit reached a record $140.5 billion in March, exceeding economists’ expectations and reflecting a surge in imports amid trade policy changes.

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Trump’s tariffs impact S&P 500 and Nasdaq markets

S&P 500 and Nasdaq decline amid Donald Trump’s new tariffs announcement, raising investor concerns ahead of Fed policy meeting.

Published

7 days ago

on

May 6, 2025

By

S&P 500 and Nasdaq decline amid Donald Trump’s new tariffs announcement, raising investor concerns ahead of Fed policy meeting.

In Short:
The S&P 500 and Nasdaq fell slightly after President Trump’s 100% tariff on foreign films, with investors worried about market effects ahead of the Federal Reserve’s policy decision. Despite some stocks performing well, overall market volatility and concerns over corporate profitability continue.

The S&P 500 and Nasdaq experienced slight declines on Monday following President Donald Trump’s announcement of a 100% tariff on foreign-produced movies.

Investors are assessing how this new tariff will impact the market ahead of the Federal Reserve’s monetary policy decision later this week.

The major indices have shown volatility since Trump initiated tariffs on April 2, briefly dropping 15% before recovering in the following sessions.

Treasury Secretary Scott Bessent expressed confidence that Trump’s tariff and tax agenda would stimulate long-term investments in the U.S., despite expected short-term market fluctuations.

Markets drop

The Dow Jones Industrial Average increased by 104.18 points, while the S&P 500 decreased by 9.60 points and Nasdaq fell by 39.60 points.

Despite Trump’s announcement, some media stocks showed resilience, while energy stocks suffered losses amid OPEC+ output hikes.

Investors await the Federal Reserve’s upcoming policy announcement, where rates are anticipated to remain unchanged, though future cuts are being priced in for 2025.

Corporate profitability concerns persist due to the new tariffs, evidenced by Tyson Foods’ significant revenue miss, while Skechers reported gains following its plan to go private.

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U.S. economy contracts by 0.3% in first quarter of 2025

U.S. economy shrinks 0.3% in Q1 2025, raising trade policy concerns amid largest export drag since 1947. #USEconomy #GDP2025 #TradeWar #Tariffs

Published

2 weeks ago

on

May 1, 2025

By

U.S. economy shrinks 0.3% in Q1 2025, raising trade policy concerns amid largest export drag since 1947.


The U.S. economy contracted by 0.3% in the first quarter of 2025, missing forecasts and sparking concerns about the growing impact of trade policy.

The drop marks the largest net export drag recorded since 1947, as businesses scrambled to import goods before Donald Trump’s new tariffs kicked in.

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#USEconomy #GDP2025 #TradeWar #Tariffs #NetExports #Trump #ConsumerSpending #TickerNews #Q1GDP #EconomicUpdate

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