McDonald’s, Pepsi and others should consider pausing operations in Russia: New York pension fund By Reuters

0
64



©Reuters. The McDonald’s restaurant logo is seen as McDonald’s Corp. reports fourth-quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts

By Hillary Russ

NEW YORK (Reuters) – Major global brands including McDonald’s Corp (NYSE:), PepsiCo (NASDAQ:) Inc and the estee lauder (NYSE:) Cos Inc should consider pausing operations in Russia, the head of the New York state pension fund wrote in letters to several companies on Friday.

Other companies that received the letter were Mondelez International Inc. (NASDAQ:), fortnite (NASDAQ:) Inc, Kimberly-Clark Corp (NYSE:), bungee (NYSE:) Ltd, Coty (NYSE:) Inc, Alnylam Pharmaceuticals Inc and Trimble Inc.

Political pressure is building for companies to stop doing business in Russia over its invasion of Ukraine, and sanctions are making some operations more difficult. Some big companies have already said they will stop, including the sneaker maker Nike (NYSE:) and home furnishings firm IKEA.

The letters from New York State Comptroller Thomas DiNapoli urged companies to review their business in Russia because they face “significant and growing legal, compliance, operational, human rights, and personnel and reputational risks,” DiNapoli wrote, who oversees the approximately $280 billion state. pension fund, which owns shares of companies.

Pausing or ending operations in Russia “would address various investment risks associated with the Russian market and play a significant role in condemning Russia’s role in fundamentally undermining the international order that is vital to a strong and healthy global economy,” the statement said. letter.

Disclaimer: melting media I would like to remind you that the data contained in this website is not necessarily real-time or exact. All CFD (Shares, Indices, Futures) and Forex prices are not provided by exchanges but by market makers, so prices may not be accurate and may differ from the actual market price, meaning that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media bears no responsibility for any business losses you may incur as a result of using this data.

melting media or anyone involved with Fusion Media will not accept any liability for any loss or damage resulting from reliance on any information, including data, quotes, charts and buy/sell signals contained on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here