Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
McDonald’s announced on Tuesday, March 8, that it will be closing down its stores in Russia. The burger joint said that all of its 850 locations in the country would temporarily cease operations, and the decision comes almost two weeks after Vladimir Putin ordered the Russian troops to attack Ukraine for invasion.
As mentioned in the Los Angeles Times, McDonald’s will continue to pay its staff in Russia despite the closure of its stores. All of its 62,000 employees will still receive their salaries, and this was personally confirmed by the fast-food chain’s president and chief executive officer, Chris Kempczinski, via an email to the workers.
In his memo to employees and franchisees, the McDonald’s chief said that members of the Russian staff have poured their heart and soul into the company’s brand. This suggests that this is Kempckinski’s reason for making the decision to continue with the payments even if the employees are not working for a while. He is saying the workers deserve to be paid for their dedication to serving the company.
Kempczinski further said that at the moment, it is hard to discern when McDonald’s operation in Russia is resuming. Right now, their concern is everyone’s safety due to the situation.
“In recent days, I have spoken with and heard from many in our System about our operations in Russia. The situation is extraordinarily challenging for a global brand like ours, and there are many considerations,” he said in the open letter. “For 66 years, we have operated with the belief that communities are made better when there’s a McDonald’s nearby.”
The CEO went on to add, “McDonald’s has operated in Russia, we have become an essential part of the 850 communities in which we operate. At the same time, our values mean we cannot ignore the needless human suffering unfolding in Ukraine.”
He also shared that the decision to temporarily close the 850 outlets and halt all operations in the market was done after closely consulting with the company’s chairman, Rick Hernandez, and the McDonald’s Board of Directors last week. Meanwhile, the company finally stopped its operations in Russia after drawing criticisms for not closing its business despite the war.
