McDonald’s, Coca-Cola, Starbucks join suspension of business operations in Russia by consumer giants

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 76 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 92%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Business leaders are feeling increasing pressure to contribute to the global rebuke against Vladimir Putin’s regime and the humanitarian crisis it has wrought in Ukraine

Some of the most prominent global consumer giants – McDonald’s Corp., Starbucks Corp., The Coca-Cola Co., PepsiCo Inc. and packaged-goods giant Unilever PLC – are suspending operations in Russia, ratcheting up the pressure on brands that continue to do business in the country amid its invasion of Ukraine.

Coca-Cola and PepsiCo both announced they would suspend their business in Russia, though PepsiCo said it would continue to sell essentials such as milk, baby formula and baby food. Hundreds of people line up around the first McDonald's restaurant in the Soviet Union at Moscow's Pushkin Square, on its opening day on Jan. 31, 1990.Tuesday’s announcements add some major household names to the corporate pushback against Russia’s invasion of Ukraine – including stalwarts of the Western consumer lifestyle that have acted as powerful symbols in Russia in the past.

On Twitter on Monday, actor Sean Penn urged people to stop buying products from companies such as Pepsi, Coca-Cola and McDonald’s until they suspend their business in Russia – which all three did a day later. The non-profit organization that Mr. Penn founded, Core Response, has been in Poland working on relief efforts for Ukrainian refugees.In contrast to its fast-food rival, Burger King locations in Russia remain open.

Restaurant Brands announced that it would redirect any profits the parent company receives from franchisees in Russia to the United Nations refugee agency, UNHCR.Burger King is not the only fast-food chain still operating in Russia. KFC and Pizza Hut parent company Yum Brands Inc. said on Tuesday that it is also “pausing investment” in Russia, but did not commit to closing restaurants. Like RBI, the company said that it would redirect profits from its Russian operations to humanitarian efforts.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

RUSIA NO SE PIERDE DE MUCHO, CON ESTAS MARCAS. AL CONTRARIO TENDRÁN UNA VIDA SALUDABLE.

Only because of pressure. Worried about profits. Always. Cowards.

finally, a bit late in announcing this decision

To late ... damage done, reputation ( customers) lost .

I guess the russians are going to have to say goodbye to diabetes

Canada Canada Latest News, Canada Canada Headlines