Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Japan Signals Readiness to Act on Yen as Intervention Speculation Grows 
US Jobs Report Preview: June Payroll Growth Seen Slowing as Fed Rate Decision Looms 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Anthropic Restores Claude Fable 5 and Mythos 5 After U.S. Lifts AI Export Controls 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Oil Prices Slip as Oversupply Concerns and U.S.-Iran Talks Shape Market Outlook 
Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears 
PepsiCo Inc. officially halted the production of its carbonated beverage brands, including Pepsi, Mountain Dew, and 7UP, in Russia. The decision came almost six months after the company promised to stop the sales and manufacturing of its products after Vladimir Putin ordered the invasion of Ukraine in late February this year.
According to Reuters, Pepsico made the announcement after the publication saw many supermarkets, retailers, gyms, and other places in Moscow with cans and bottles of Pepsi beverages bearing the production dates of July and August. Apparently, these were produced in Pepsico's Russian factories.
Reuters further shared that it saw first-hand that the Pepsi products in Russia were produced very recently, and the latest was dated Aug. 17. After the discovery, the American multinational food, snack, and beverage firm sent a statement to the publication. Pepsico informed Reuters that it had already stopped producing concentrates for the production of 7UP, Mirinda, Pepsi Cola, and Mountain Dew in Russia.
In a statement sent to the publication on Sept. 8, PepsiCo's spokesman said, "All concentrates have subsequently been exhausted in Russia and production has ended." It was noted that this short remark was the company's first public comment after stating in March that it would suspend its business activities, including production in the country.
"As many of you know, we have been operating in Russia for more than 60 years, and we have a place in many Russian homes. Pepsi-Cola entered the market at the height of the Cold War and helped create common ground between the United States and the Soviet Union," PepsiCo's chief executive officer, Ramon Laguarta, wrote in a message that was sent to the company's associates at that time.
He added, "However, given the horrific events occurring in Ukraine we are announcing the suspension of the sale of Pepsi-Cola, and our global beverage brands in Russia, including 7Up and Mirinda. We will also be suspending capital investments and all advertising and promotional activities in Russia."
Meanwhile, the spokesperson said that the decision to halt the production is in line with the statements the company gave in March. However, he declined to comment about the sales, and these were halted as well.
