Japan Airlines Signs 10-Year Boeing 787 Maintenance Deal With GE Aerospace 
Cuba needs a long-term solution to its energy crisis 
Boeing Wins Fraud Lawsuit Over 737 MAX Filed by LOT Polish Airlines 
SpaceX Eyes AI Computing Expansion Ahead of Historic IPO 
GameStop Raises eBay Stake to 6.6% as Ryan Cohen Pushes $56 Billion Takeover Bid 
JPMorgan Sees Large-Cap Biotech Stocks Entering New Growth Phase in 2026 
Mistral AI Acquires Emmi AI to Expand Industrial AI Solutions in Europe 
OpenAI Expands Globally with First Overseas AI Lab in Singapore 
Texas Sues Meta Over WhatsApp Encryption Claims 
X Corp Loses Legal Battle Over Australia Child Safety Fine 
Moody’s Downgrades Mexico Credit Rating Amid Rising Debt and Fiscal Pressure 
Iran-U.S. Talks Continue as Strait of Hormuz and Uranium Dispute Stall Peace Efforts 
H.B. Fuller Eyes Advanced Medical Solutions in Potential £600M Takeover Deal 
Asian Stocks Rally as Nvidia Earnings Boost Tech Shares, Samsung Jumps on Wage Deal 
Oil Prices Rebound as U.S.-Iran Talks Continue to Influence Global Crude Market 
Oil Tankers Exit Strait of Hormuz as Trump Signals Possible Iran Deal 
Spying, Southampton and economic pressure cooker of the ‘richest match in football’ 
Starbucks Corp. announced on Monday, May 23, that it is officially leaving Russia after suspending its business in March due to the ongoing war in Ukraine that was started by Russia. The coffee chain will be closing its 130 licensed store outlets after 15 years of presence in the country.
With its move, Starbucks is the next major company and food brand to announce its permanent departure from the Russian market. McDonald’s Corp. withdrew last week after serving its burgers to the Russians for more than 30 years. The burger joint’s departure has been described as the end of an era. The fast-food chain ended up selling its business in Russia to a local business licensee, which will rebrand the stores and operate under a new name.
According to Reuters, Starbucks’ 130 outlets in Russia are wholly owned and operated by Alshaya Group, which is its licensee for the brand’s domestic operation. Prior to its departure, the company has almost 2,000 employees.
McDonald’s mentioned that it may take a hit of around $1.4 billion for its exit in Russia, but Starbucks did not provide any details of its own financial impact resulting from its business withdrawal.
“As we mentioned on March 8, we have suspended all business activity in Russia, including the shipment of all Starbucks products. Starbucks has made the decision to exit and no longer have a brand presence in the market,” Starbucks wrote in an updated post on its press center page. “We will continue to support the nearly 2,000 green apron partners in Russia, including pay for six months and assistance for partners to transition to new opportunities outside of Starbucks.”
CNBC reported that Starbucks would not abandon its 2,000 staff as it permanently closes its stores. As a means of support, the company will continue to pay them for six months and help them find new opportunities outside of the company.
In addition, Starbucks’ former chief executive officer, Kevin Johnson, made a pledge earlier this month. He said they will donate royalties from the firm’s business in Russia to humanitarian causes.
