$TRUMP
$XAU
Nestlé reviews its options after Russia takes control of its local unit and its shares fall
-1.16% NESN
Nestlé shares fell 1.5% in early trading on Friday after the company said it is considering its options regarding its business in Russia, following the issuance of a presidential decree that places the local unit under temporary external administration.
Nestlé said: "Nestlé is committed to taking all necessary steps to protect its rights and ensure the continuity of its business operations for the benefit of all stakeholders, in particular its employees."
Russia has tightened its grip on assets owned by foreign entities since it launched its invasion of Ukraine in 2022. Under a decree issued in 2023 and signed by President Vladimir Putin, Moscow can place the assets of companies affiliated with states it labels "unfriendly" under temporary government administration. The law has also been used to seize money through forced sales and exit taxes, along with steep discounts, which mostly benefits buyers closely connected to the Kremlin.#NEARSurges26%Past$3.45 #DtcpayCompletes$25MSeriesA #SECGrantsInnovationExemptionForTokenizedStocks
$XAU
Nestlé reviews its options after Russia takes control of its local unit and its shares fall
-1.16% NESN
Nestlé shares fell 1.5% in early trading on Friday after the company said it is considering its options regarding its business in Russia, following the issuance of a presidential decree that places the local unit under temporary external administration.
Nestlé said: "Nestlé is committed to taking all necessary steps to protect its rights and ensure the continuity of its business operations for the benefit of all stakeholders, in particular its employees."
Russia has tightened its grip on assets owned by foreign entities since it launched its invasion of Ukraine in 2022. Under a decree issued in 2023 and signed by President Vladimir Putin, Moscow can place the assets of companies affiliated with states it labels "unfriendly" under temporary government administration. The law has also been used to seize money through forced sales and exit taxes, along with steep discounts, which mostly benefits buyers closely connected to the Kremlin.#NEARSurges26%Past$3.45 #DtcpayCompletes$25MSeriesA #SECGrantsInnovationExemptionForTokenizedStocks
