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Restaurant rebrand – meet McDonald’s new buyer in Russia

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Locals will notice the shiny golden arches will be removed, a sight they have got use to for the past three decades…. but now Russians can be assured they’ll still get their French fries hit

McDonald’s has found a local buyer for its Russian business, after the war in Ukraine pushed it to quit the country.

Alexander Govor operates 25 McDonald’s restaurants in Siberia right now.

It’s set to take the keys on Russia’s restaurants and staff.

The plan is to rebrand the McDonald’s in Russia and operate them under a new brand,

It did not disclose the sale price, but has warned investors it would take a more than $1bn hit from the exit.

The opening of McDonald’s first restaurant in Moscow in 1990 came to symbolise a thaw in Cold War tensions.

30 years later, the firm has nearly 850 restaurants in the country.

The chain is one of a growing number of corporations pulling out as the war in Ukraine and Western sanctions make it difficult to operate.

Last year, Russia and Ukraine accounted for about 9% of McDonald’s revenue. Shares slipped slightly on Wall St following the news.

McDonald’s expects the new deal to close in coming weeks.

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Money

Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

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Money

Rich listers secret’s: how billionaires build their wealth

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Australian billionaires, including Gina Rinehart, have built their wealth by investing in valuable, income-generating assets.

For the average person looking to build their wealth, one possible option could be to buy quality assets like stocks when the market dips.

Mark Wyld from MW Wealth joins to discuss. #featured #trending #wyld money

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Buyer’s agent unveils key to building wealth through property

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Unveiling the strategies for game-changing wealth building through property.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Buyers Agent, Jack Henderson from Henderson Advocates. #trending #wyld money

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