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Growing list of companies taking a stance against Russia

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Another major company has taken a stance against Russia’s invasion of Ukraine

Onlyfans has temporarily suspended the accounts of Russian content creators.

The move has left many creators like sex workers out of income.

Until now, Russian creators have been allowed to remain on the platform.

In February, Rolling Stone reported that Russian OnlyFans creators briefly lost access to their accounts with little warning but the access was then granted once again.

Since Russia’s invasion of Ukraine, Russian content creators have quickly begun losing access to popular online services.

Major corporate organisations have also continued to block, suspend or cease operations in Russia

From oil giants to media companies and sporting bodies, Russia is facing a multi-billion dollar exodus as companies pull out to condone actions by the Kremlin.

  • Nestlé: Suspending sales of “the vast majority” of its prewar volume of products in Russia, including pet food, coffee and candy sold under KitKat and Nesquik brands.
  • British American Tobacco: Exiting its Russian business.
  • Fast Retailing (Japanese clothing company that operates Uniqlo): Suspend its operations in Russia.
  • Unilever: Suspended imports and exports.
  • Ikea: Suspended imports and exports.
  • H&M: 170 Store operations paused.
  • Nike: 116 Store operations paused.
  • Canada Goose: Ceasing wholesale and e-commerce sales.
  • Adidas: Suspending sales in Russia.
  • Heineken: Stop producing, advertising and selling beer in Russia.
  • McDonald’s: Temporarily closing 850 locations in Russia.
  • Starbucks: Closing all stores and operations in Russia.
  • Pepsi: Said it would stop selling soda in Russia.
  • Yum Brands: Closing its 70 company-owned KFC restaurants and all 50 franchise-owned Pizza Hut restaurants.
  • French bank Société Générale: Selling its controlling stake in Rosbank, a Moscow-based lender.
  • Deutsche Bank: Scaling down operations.
  • Goldman Sachs: Scaling down operations.
  • Western Union: Suspending operations.
  • American Express, Mastercard and Visa cards issued by Russian banks will not work in other countries, and cards issued elsewhere will not work for purchases in Russia.
  • Deloitte, EY, KPMG and PWC: Ceasing operations.
  • Shell: Exiting joint ventures with Gazprom, the Russian natural gas giant.
  • BP: Set to sell its approx. 20 percent stake in Rosneft, the Russian state-controlled oil company.
  • Exxon Mobil: will end its involvement in a large oil and natural gas project.
  • Bloomberg: Suspending operations in Russia and Belarus.
  • Netflix: suspended its service and halted future projects in the country.
  • The Walt Disney Company New movie releases paused, operations in Russia halted.
  • Nokia: Leaving Russia completely.
  • Intel: Suspending all operations in Russia.
  • LG: Suspending new shipments to Russia.
  • Google: Advertising suspended.
  • Sony: New hardware shipments suspended.
  • Amazon Web Services: No longer accepting new customers in Russia
  • Microsoft: Paused sales.
  • Apple: paused sales.
  • Hyatt Hotels: New developments and investments suspended.
  • Hilton Hotels: New developments suspended.
  • UPS: Suspended shipments to and operations within Russia and Belarus.
  • FedEx: Suspended shipments to and operations within Russia and Belarus.
  • DHL: Suspended shipments to and operations within Russia and Belarus.
  • Airbus: Suspended the supply of parts, maintenance and technical support services to Russian airlines.
  • Boeing: Suspended the supply of parts, maintenance and technical support services to Russian airlines.
  • American Airlines: Codeshare agreements with Russian airlines scrapped. Flights to Moscow suspended.
  • Delta Airlines: Codeshare agreements with Russian airlines scrapped. Flights to Moscow suspended.
  • United Airlines: Codeshare agreements with Russian airlines scrapped. Flights to Moscow suspended.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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Boeing CEO to depart with lucrative exit package despite chaos

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Boeing CEO Dave Calhoun is set to step down from his position at the end of the year, walking away with a substantial payout despite challenges faced during his tenure.

Here are the key points:

  • Massive Payout: Despite Boeing’s stock price plummeting by 43% since Calhoun took over as CEO in 2020, he is poised to receive a $24 million payment upon his departure.

  • Additional Compensation: Calhoun holds options that could potentially earn him an additional $45.5 million if his successor manages to boost Boeing’s share price by 37%.

  • Comparative Compensation: Calhoun’s compensation during his tenure exceeds that of CEOs in similar industries, despite Boeing’s stock underperforming in comparison.

Boeing CEO Dave Calhoun’s impending departure at the end of the year has sparked controversy as he stands to walk away with a substantial payout, despite the company’s tumultuous journey under his leadership.

READ MORE: Boeing CEO to step down

Despite inheriting a company reeling from the aftermath of two deadly 737 Max crashes, Calhoun’s tenure has been marred by further setbacks, including the recent Alaska Airlines door blowout incident that further tarnished Boeing’s reputation.

Boeing offers CEO $5.3 million incentive to stay through recovery …

With Boeing’s stock price plummeting by 43% during Calhoun’s time at the helm, questions arise about the correlation between executive compensation and company performance, especially in the face of such significant challenges.

‘Raised eyebrows’

Calhoun’s lucrative exit package, valued at $24 million, has raised eyebrows among shareholders and industry observers alike.

Additionally, the potential for Calhoun to earn an additional $45.5 million based on the future performance of Boeing’s shares has intensified scrutiny over executive compensation practices.

This sizable payout contrasts starkly with Boeing’s stock performance, which has significantly underperformed compared to both industry peers and broader market indices, highlighting the dissonance between executive rewards and shareholder value creation.

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Money

It’s been a record year for CEO compensation

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In 2023, Broadcom’s CEO Hock Tan was granted a stock award worth $161 million, propelling him into the realm of highest-paid CEOs.

However, as the company’s share price surged, the value of Tan’s award skyrocketed to approximately $1.3 billion, outpacing even the shareholders’ annual returns.

Tan’s compensation reflects a broader trend among top executives in the tech sector, where awards of restricted stock and stock options surged in value alongside company share prices.

Notably, CEOs like Charles Robbins of Cisco Systems and Shantanu Narayen of Adobe also saw substantial increases in their compensation, doubling in some cases.

The disclosure of such equity growth in executive compensation is a new requirement by the Securities and Exchange Commission (SEC), providing shareholders with insights into the changing value of executives’ awards throughout the year.

CEO pay is on the rise.

New heights

Overall, CEO pay at major S&P 500 companies reached new heights in 2023, rebounding from slower growth in the previous year. The median pay for these CEOs rose to $15.6 million, up from $14.1 million in 2022, reflecting a surge in equity awards.

Broadcom clarified that Tan’s stock award is designed to span five years, with no plans for additional equity grants or cash bonuses during that period.

Tan’s compensation, which amounts to approximately $33 million annually over five years, is contingent upon his continued tenure and specific share price targets.

While the initial valuation of Tan’s restricted shares stood at $160.5 million, the surge in Broadcom’s share price prompted the company to reassess the likelihood of meeting vesting conditions.

This reassessment suggests that Tan may not receive all the shares initially granted.

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Market forecast: weather whirlwinds influencing investments

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Prime conditions for commodity investments arise from global weather shifts, geological tensions, and rising interest rates.

With global weather patterns causing disruptions in traditional supply chains, coupled with geopolitical tensions over natural resource access, and the anticipation of higher interest rates impacting financial markets, the conditions for commodity investments have reached exceptional levels.

Amidst this backdrop, Farrer Capital has emerged as a standout player, leveraging its unique ‘blue ocean’ approach to capitalize on price dislocations and scarce competition in the market.

Mark Wyld from MW Wealth joins the show to share his insights on the inclement weather impacting the market.

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