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Which Companies Have Pulled Out of Russia? Here’s a List.

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After the Russian president, Vladimir V. Putin, ordered the invasion of Ukraine on Feb. 24, multinational companies were forced to re-examine their ties with Russia. Some, like McDonald’s, PepsiCo and Shell, had built relationships with the country over the decades, and were faced with untangling complicated deals.

Under pressure from investors and consumers, many Western companies have started to unwind their investments, close stores and pause sales in Russia. Here are some of the actions they have announced:

  • Unilever, which owns brands like Dove and Sunsilk, suspended imports and exports.

  • So did Ikea, though it will continue to operate its major chain of shopping centers, Mega, in Russia to ensure that customers have access to essentials.

  • TJX, the owner of T.J. Maxx and Marshalls, promised to divest its equity ownership in Familia, an off-price retailer with more than 400 stores in Russia.

  • H&M, which had about 170 stores in Russia, paused sales, as did Nike, with about 116 stores.

  • Canada Goose, which is based in Toronto, will cease wholesale and e-commerce sales to Russia.

  • Adidas said it would suspend sales in Russia, cutting 1 percent from its expected revenue growth this year. The company has about 500 stores in Russia and the former Soviet states.

  • Shell will exit its joint ventures with Gazprom, the Russian natural gas giant.

  • BP will offload its nearly 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.

  • 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.

  • Citigroup, which has about 3,000 employees in Russia, said it would “assess our operations in the country.” Citi’s consumer division in Russia is running limited operations, and the business is for sale as part of a broader exit from overseas markets announced last year.

  • The Big Four accounting firms — Deloitte, EY, KPMG and PwC — are pulling out of the country.

  • The consulting firm Bain said it would not work with any Russian business and that it had put a policy in place in 2020 “not work for the Russian government at any level — central, state, or departmental.” McKinsey & Company said it would not take on any new work in Russia, would stop work for state-owned entities and “will no longer serve any government entity in Russia.” Boston Consulting Group will not take on any new clients in Russia and has “started to wind down work where possible and will not take on any new work,” it said. McKinsey and Boston Consulting Group said they did not have any contracts with “the central government.”

  • McDonald’s said it was temporarily closing its nearly 850 locations in Russia and halting operations there.

  • Starbucks said it was closing all of its locations in Russia, where they are owned and operated by the Kuwaiti conglomerate Alshaya Group.

  • PepsiCo said it would stop selling soda in Russia but would continue to produce dairy and baby food products there, calling it a “humanitarian” effort.

  • Yum Brands is closing 70 company-owned KFC restaurants and all 50 franchise-owned Pizza Hut restaurants.

  • Little Caesars is suspending all operations at Russian stores, which are owned by franchisees.

  • Amazon Web Services has stopped accepting new customers for its cloud computing services.

  • Google suspended advertising, including on its search and YouTube products.

  • Microsoft and Apple paused sales. IBM suspended business.

  • Cogent and Lumen, which provide so-called backbone internet services, cut off access.

  • Uber said it was trying to “accelerate” its divestment from the Russian internet company Yandex, which operates a ride-hailing service.

  • Sony, which makes the PlayStation video game console, said it had “suspended all software and hardware shipments” to Russia, as well as operation of the PlayStation Store in the country.

  • UPS, FedEx and DHL have suspended shipments to and operations within Russia and Belarus.

  • Airbus and Boeing have suspended the supply of parts, maintenance and technical support services to Russian airlines. Boeing also said it had stopped buying titanium from Russia, a key source of the metal for the aerospace industry.

  • American Airlines, Delta Air Lines and United Airlines cut ticket sales partnerships with Russian airlines. All three airlines also stopped flying over Russia.

  • Amadeus and Sabre, which provide ticket sales technology to airlines, cut ties with Aeroflot, the national flag carrier and the largest airline in Russia.

  • Hyatt and Hilton, the hotel chains, suspended development work in the country, and Hilton closed its corporate office in Moscow.

  • Caterpillar, which makes construction and earth-moving equipment, is pausing manufacturing in Russia.

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Teladoc Tumbled 38% After Big First-Quarter Loss. Is It Just a Pandemic Play?

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After pandemic drop, Canada’s detention of immigrants rises again By Reuters

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© Reuters. FILE PHOTO: Two closed Canadian border checkpoints are seen after it was announced that the border would close to “non-essential traffic” to combat the spread of novel coronavirus disease (COVID-19) at the U.S.-Canada border crossing at the Thousand Isla

By Anna Mehler Paperny

TORONTO (Reuters) – Canada is locking up more people in immigration detention without charge after the numbers fell during the pandemic, government data obtained by Reuters shows.

Authorities cite an overall rise in foreign travelers amid easing restrictions but lawyers say their detained clients came to Canada years ago.

Canada held 206 people in immigration detention as of March 1, 2022 – a 28% increase compared with March 1 of the previous year. Immigration detainees have not been charged with crimes in Canada and 68% of detainees as of March 1 were locked up because Canada Border Services Agency (CBSA) fears they are “unlikely to appear” at an immigration hearing, according to the data.

The rise puts Canada at odds with Amnesty International and other human rights groups that have urged Ottawa to end its use of indefinite immigration detention, noting CBSA has used factors such as a person’s mental illness as reason to detain them.

A CBSA spokesperson told Reuters that “when the number of entries (to Canada) goes up, an increase in detention is to be expected.” CBSA has said in the past it uses detention as a last resort.

A lawyer told Reuters her detained clients have been in Canada for years.

In the United Kingdom, too, immigration detention levels rose last year after dropping earlier in the pandemic, according to government statistics. Unlike Canada, the United States and Australia, European Union member states have limits on immigration detention and those limits cannot exceed six months.

The rise in detentions puts people at risk of contracting COVID-19 in harsh congregate settings, refugee lawyers say.

Julia Sande, Human Rights Law and Policy Campaigner with Amnesty, called the increase in detentions “disappointing but not surprising,” although she was reluctant to draw conclusions from limited data.

The number of immigration detainees in Canada dropped early in the pandemic, from a daily average of 301 in the fourth quarter (January through March) of 2019-20 to 126 in the first quarter (April through June) of 2020-21.

FEW NO-SHOWS AS DETENTIONS DROPPED

Detaining fewer people did not result in a significant increase in no-shows at immigration hearings – the most common reason for detention, according to Immigration and Refugee Board data.

The average number of no-shows as a percentage of admissibility hearings was about 5.5% in 2021, according to that data, compared to about 5.9% in 2019.

No-shows rose as high as 16% in October 2020, but a spokesperson for the Immigration and Refugee Board said this was due to people not receiving notifications when their hearings resumed after a pause in the pandemic.

Refugee lawyer Andrew Brouwer said the decline in detention earlier in the pandemic shows Canada does not need to lock up as many non-citizens.

“We didn’t see a bunch of no-shows. We didn’t see the sky fall … It for sure shows that the system can operate without throwing people in jail,” Brouwer said.

He added that detainees face harsh pandemic conditions in provincial jails – including extended lockdowns, sometimes with three people in a cell for 23 hours a day.

Refugee lawyer Swathi Sekhar said CBSA officials and the Immigration and Refugee Board members reviewing detentions took the risk of COVID-19 into account when deciding whether someone should be detained earlier in the pandemic but are doing so less now.

“Their position is that COVID is not a factor that should weigh in favor of release,” she said.

“We also see very, very perverse findings … [decision-makers] outright saying that individuals are going to be safer in jail.”

The Immigration and Refugee Board did not immediately respond to a Reuters request for comment.

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Nasdaq futures rise as market attempts comeback from April sell-off, Meta shares soar

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Stock futures rose in overnight trading as the market shook off the April sell-off and investors reacted positively to earnings from Meta Platforms.

Futures on the Dow Jones Industrial Average added 70 points or 0.2%. S&P 500 futures gained 0.7% and Nasdaq 100 futures jumped 1.2%.

The moves came as shares of Meta surged more than 18% after hours following a beat on earnings but a miss on revenue, a sign that investors may see signs of relief in the beaten-up tech sector. Shares were down 48% on the year heading into the results.

Meanwhile, shares of Qualcomm gained 5.6% in extended trading on the back of strong earnings while PayPal rose 5% despite issuing weak guidance for the second quarter.

“I think a lot of people want to believe that earnings are going to pull us out of this, but earnings are not what got us into this,” SoFi’s Liz Young told CNBC’s “Closing Bell: Overtime” on Wednesday. “… But the reality is there are so many macro headwinds still in front of us in the next 60 days that the market is just hard to impress.”

The after-hour activity followed a volatile regular trading session that saw the Nasdaq Composite stoop to its lowest level in 2022, as stocks looked to bounce back from a tech-led April sell-off. The index is down more than 12% since the start of April.

In Wednesday’s regular trading, the tech-heavy Nasdaq ended at 12,488.93, after rising to 1.7% at session highs. The Dow Jones Industrial Average rose 61.75 points, or 0.2%, to 33,301.93 propped up by gains from Visa and Microsoft, while the S&P 500 added 0.2% to 4,183.96.

Investors await big tech earnings on Thursday from Apple, Amazon and Twitter, along with results from Robinhood. Jobless claims are also due out Thursday.

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