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☆ From Wall Street to Silicon Valley, AI specialists are a hot commodity
▼ + stars: | 2024-04-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Today's big story examines how recruitment for AI talent is ramping up in the tech industry and on Wall Street . AdvertisementEager to understand how to leverage the tech, companies are racing to scoop up AI specialists. But Big Tech companies aren't just competing with each other. With so many venture capitalists eager to fund AI ideas , some AI talent are starting their own companies. Businesses are already fighting the rule, but if it survives the courts it could mean even more movement of AI talent.

Persons: —, We've, we've, Justin Sullivan, Chelsea Jia Feng, Eager, Kali Hays, Ellen Thomas, Banks, it's, Getty, Sean Gladwell, Olga Pyrkina, Tyler Le, Amy Hood, Mark Zuckerberg, Zuckerberg, Johannes Eisele, Swan, Mark Spitznagel, Spitznagel, David Einhorn, there's, Dimitrios Kambouris, Leon Neal, Abanti Chowdhury, Bill Gates, Gates, BI Gates, Satya Nadella, Zs, Herman Miller Eames, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Getty Images, Anadolu Agency, Big Tech, Johannes, Getty, Federal Reserve, Reuters, Research, Capital Economics, Greenlight, Staff, Microsoft, BI, Paramount Locations: California, AFP, America, New York, London, Chicago

☆ At Flamenco Festival, Molting Into a New Idea of Spanish Dance
▼ + stars: | 2024-03-02 | by ( Marina Harss | ) www.nytimes.com time to read: +1 min

For Olga Pericet, flamenco is an invitation: to play and to explore the limits of her imagination onstage. Pericet, who comes from a family of flamenco dancers and teachers, has a deep respect for the traditions of the form. Over the years the Flamenco Festival, which arrives in New York each spring, has offered a window on its evolution. This year the festival has three dance programs at City Center, beginning March 8, each invoking a range of associations: to past dance forms, to flamenco auteurs, and to the central role of the flamenco guitar. Pericet’s “La Leona,” takes its inspiration from a 19th-century guitar prototype that produced the rich, resonant sound we now associate with flamenco music.

Persons: Olga Pericet, “, ”, Pericet, Quentin Tarantino’s, Martha Graham, Pericet’s “ La Leona Organizations: Flamenco, City Center, Ballet Nacional Locations: Madrid, Roma, Spain, New York

☆ Media literacy is more than spotting fake news. How one librarian gives teens the tools to decide what to trust
▼ + stars: | 2024-01-21 | by ( Alisha Ebrahimji | ) edition.cnn.com time to read: +11 min

With lots of kids now getting their news from social media – where disinformation and content created by artificial intelligence run rampant – 18 states have some form of K-12 media literacy education on the books, according to Media Literacy Now. Of those, four – Delaware, Texas, New Jersey and, starting this year, California – mandate media literacy, with lesson standards now being crafted state by state. “But we haven’t really taught people how to use them ethically, efficiently and responsibly.”To do that, a media literacy lesson might include analyzing which emotions the wording of a mass media headline evoke. And California starting this year requires media literacy instruction to be integrated into K-12 mathematics, science and history-social science curriculums when they’re revised, according to the bill. It’s why Manganello has spent nearly two decades perfecting how she teaches media literacy.

Persons: Lisa Manganello, ” Manganello, ”, Olga Polites, seatbelts, “, ” Polites, Manganello, Jeff Johnson’s, Harrison Pekosz, Harrison, Urja Kandale, they’re, It’s, “ Young, aren’t, “ We’ve, ” Urja, Michelle Ciulla Lipkin, “ We’re, “ ‘, Elisabeth Yucis, Johnson Organizations: Brunswick , New Jersey CNN, South Brunswick High School, Smart, “ Media, CNN, ”, Literacy, Media Literacy, Social, Pew Research, Stanford University, “, Stanford, South Brunswick High, National Association for Media Literacy, Department, Professional, New Jersey Education Association Locations: Brunswick , New Jersey, Jersey, United States, Delaware, Texas , New Jersey, California, Olga Polites , New Jersey, TikTok, New Jersey, South Brunswick

☆ The 12-3-30 'hot girl workout' is a waste of your time — these 3 routines are better for building muscle and burning fat
▼ + stars: | 2024-01-18 | by ( ) www.businessinsider.com time to read: +8 min

The viral 12-3-30 workout is fine, but there are better ways to spend your exercise time. Rowing and rucking are easy ways to combine cardio with resistance training to build muscle. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The "12-3-30" workout, otherwise known as the "hot girl workout" is the zombie exercise trend that's trying to suck the life out of your gym sessions. You may not even need a full 30 minutes, since 15 minutes of rucking can be a great entry-level workout.

Persons: —, I'm, …, Rucking, Olga Pankova, rucking, Michael Easter, Noam Tamir, Thomas Barwick Organizations: Service, TS Fitness, New Locations: New York City

How the Russian Government Silences Wartime DissentJust days after invading Ukraine, President Vladimir V. Putin of Russia signed a censorship law that made it illegal to “discredit” the army. The indignities of the crackdown, and the long arm of the Russia law, is being lost in the numbers. Nanna Heitmann for The New York TimesIn dry legalese, the court documents recount the Russian state’s case against these statements and protests. People’s “negative assessment” of the Russian military could adversely affect its performance, the court said, presenting a national security risk. And I very much don’t want this.”Sergei Platonov at district court in Moscow listening to his guilty verdict in November.

Persons: Vladimir V, Putin, ”, — schoolteachers, —, That’s, Ukraine —, pollsters, Andrei Kolesnikov, Demyan, Aleksandr T, Olga V, ” Maksim L, Omsk Diana I, Denis V, Russia ”, “, Maksim P, Anna S, Maria V, people’s “, Russia’s, Zaynulla Gadzhiyev, Mr, Bespokoyev, Marina Tsurmast, scrawled, Nanna Heitmann, Tsurmast, Gadzhiyev, Vladimir Kara, Murza, Aleksandra Y, Skochilenko, Selimat, Vladimir A, Rustam I, ” Yelena L, Aleksandr K, Olga P, Dmitri D, Sergei V, Eve, Daria Ivanova, Ms, Ivanova, “ you’ll, Anton Redikultsev, Redikultsev, Jan, Marina, Sergei P, ” Yuldash, ” Dmitri S, Peskov, Putin’s, Sergei Platonov, Platonov, Russian Gestapo ”, Polina, Kolesnikov, Anna Sliva, Sliva Organizations: New York Times, Times, Carnegie Russia Eurasia Center, OVD, Penza Yuriy V, Russia, ”, Ukraine ” “, YouTube, Bucha, Ukraine, Police, The New York Times, Armed Forces, Russian Federation, VK, Russian Gestapo, The New York Locations: Russia, Russian, Ukraine, “, Omsk, Peace, Ukraine ” “ Ukraine, Bucha, Moscow, St, Petersburg, Iglino, ”, Novosibirsk, Siberia, Crimea, Ukrainian, Kalga, Russia’s, OVD, Coast, Primorye, Soviet

REUTERS/Russell Cheyne/File Photo Acquire Licensing RightsSummaryCompanies Saudi Arabia's PIF buys into Rocco Forte hotel groupPlans to help expand luxury hotel groupItalian investor CDPE checks out of chainDec 4 (Reuters) - Saudi Arabia's PIF sovereign wealth fund will buy a 49% stake in luxury hotel group Rocco Forte Hotels and help to support its expansion, the owner of Britain's Balmoral hotel said on Monday. A spokesperson for Rocco Forte Hotels declined to confirm the size of PIF's stake. Rocco Forte Hotels, founded in 1996, operates across Italy, Britain, Germany, Belgium and Russia and has 20 private villas in addition to its hotels. CDPE, which owned a 23% stake in Rocco Forte Hotels, is owned by Italy's state-backed fund CDP. Rocco Forte, which was advised by Rothschild, reported revenues of around 300 million pounds last fiscal year, with a core profit of around 60 million pounds, according to a source.

Persons: Russell Cheyne, Companies Saudi Arabia's PIF, Rocco Forte, CDPE, Olga Polizzi, Forte, Rocco Forte Hotels, Al Nowaiser, PIF, Rothschild, Yadarisa, Elisa Anzolin, Keith Weir, Dhanya Ann Thoppil, Nivedita Bhattacharjee, Alex Richardson Organizations: REUTERS, Companies Saudi Arabia's, Saudi Arabia's, Rocco Forte Hotels, Financial Times, Granada, Thomson Locations: Balmoral, Scotland, Edinburgh, Britain, Saudi, Italy, Germany, Belgium, Russia, Milan, Sardinia, Italy's, SAUDI ARABIA, Saudi Arabia, Bengaluru, London

☆ Sberbank CEO expects 'serious cooling' in Russian mortgage market
▼ + stars: | 2023-11-08 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File photo Acquire Licensing RightsMOSCOW, Nov 8 (Reuters) - Russia's biggest bank Sberbank (SBER.MM) expects a sharp cooling of the mortgage market following an expected 80% rise in mortgage lending this year, CEO German Gref said on Wednesday. Gref said the bank's mortgage issuance for the whole of 2023 was expected to reach 4.6 trillion roubles ($50.1 billion). VTB, Russia's number two bank, expects mortgage loans across the entire sector to total 7.2 trillion roubles this year, falling to between 5 and 5.5 trillion roubles in 2024. Vyacheslav Dusaleyev, head of retail business at Rosbank, gave corresponding forecasts of 7.3 trillion roubles this year and 5 trillion next year. Mortgage demand has remained buoyant in part because of the wide range of preferential offers available, according to the central bank.

Persons: Maxim, Gref, Sberbank, Vyacheslav Dusaleyev, Olga Polyakova, Elena Fabrichnaya, Mark Trevelyan, Christina Fincher Organizations: St ., Economic, REUTERS, Rights, Mortgage, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Moscow, Rosbank

☆ Russian e-commerce firm Ozon notifies Nasdaq of delisting intention
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

A view shows the pick-up point of the Ozon online retailer in Moscow, Russia March 16, 2020. But trading in Ozon's securities on Nasdaq was suspended soon after Russia despatched troops to Ukraine in February 2022, as were listings of Russian companies on the London Stock Exchange. "We have no reason to believe that trading of Ozon's ADSs on Nasdaq will resume. This step is aimed at reducing costs associated with providing reports to the U.S. Securities and Exchange Commission's standards." Ozon said it planned to file for voluntary delisting by Oct. 30, and that the delisting would not affect its operations.

Persons: Evgenia, Ozon, Ozon's ADSs, Olga Popova, Alexander Marrow, Kevin Liffey Organizations: REUTERS, Nasdaq, London Stock Exchange, U.S . Securities, Exchange, Kazakhstan's Astana International Exchange, Thomson Locations: Moscow, Russia, Ukraine MOSCOW, Ukraine

☆ Russian tech firm Astra raises $36 mln in Moscow IPO
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Russian share listings have been thin on the ground since Russia sent troops into Ukraine in February 2022, and are generally characterised by small volumes and dependent on Russian investors after an exodus of Western capital. Astra dominates Russia's operating system (OS) market with its Astra Linux software. Astra said it set the price at 333 roubles per share, corresponding to a market value of 69.9 billion roubles. "The IPO allowed us to launch a long-term motivation programme for our employees," CEO Ilya Sivtsev said in a statement. Trading under the ASTR ticker on the Moscow Exchange (MOEX.MM) should begin later on Friday.

Persons: Ilya Sivtsev, Gleb Stolyarov, Olga Popova, Alexander Marrow, David Evans, Sharon Singleton Organizations: Astra, Astra Linux, Astra Group, Moscow, Thomson Locations: Russia, Ukraine MOSCOW, Russian, Moscow, Ukraine

MOSCOW, Oct 3 (Reuters) - Russian technology company Astra plans to open the books for an initial public offering (IPO) on the Moscow Exchange on Thursday, two financial market sources told Reuters, with trading due to start on Oct. 13. Astra's listing, which is expected to result in a free float of about 5%, could breathe some life into Russia's moribund equity capital markets, which have been starved of deals since Moscow sent its troops into Ukraine in February 2022, prompting sanctions and the departure of Western bankers and lawyers. Reporting by Olga Popova and Gleb Stolyarov; Writing by Alexander Marrow; Editing by Mark TrevelyanOur Standards: The Thomson Reuters Trust Principles.

Persons: Olga Popova, Gleb Stolyarov, Alexander Marrow, Mark Trevelyan Organizations: Astra, Moscow, Thomson Locations: MOSCOW, Russian, Moscow, Ukraine

SummaryCompanies This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Oct 3 (Reuters) - Russian technology company Astra plans to open the books for an initial public offering (IPO) on the Moscow Exchange on Thursday, two financial market sources told Reuters, with trading due to start on Oct. 13. Sberbank, Gazprombank, Alfa Bank and Start Capital were chosen as organisers of the offering, said the sources, who asked not to be named because the information is private. Astra dominates Russia's operating system (OS) market with its Astra Linux software. ($1 = 98.3250 roubles)Reporting by Olga Popova and Gleb Stolyarov; Writing by Alexander Marrow; Editing by Mark TrevelyanOur Standards: The Thomson Reuters Trust Principles.

Persons: Olga Popova, Gleb Stolyarov, Alexander Marrow, Mark Trevelyan Organizations: Astra, Moscow, Alfa Bank, Start, Astra Group, Astra Linux, Thomson Locations: Russia, Ukraine, MOSCOW, Russian, Moscow

☆ Russia mulls joining China in banning Japanese seafood imports
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +3 min

Japan started releasing the water from the plant into the ocean last month, drawing strong criticism from China. Russia is one of the biggest marine product suppliers to China and is seeking to increase its market share. "Taking into account the possible risks of radiation contamination of products, Rosselkhoznadzor is considering the possibility of joining with Chinese restrictions on supplies of fish products from Japan," Rosselkhoznadzor said in a statement. So far this year, Russia has imported 118 tonnes of Japanese seafood, the regulator said. Japan will scrutinise Tuesday's announcement by Russia, the top Japanese government spokesperson Hirokazu Matsuno said on Wednesday.

Persons: Kim Kyung, Rosselkhoznadzor, Hirokazu Matsuno, Matsuno, Alexander Marrow, Olga Popova, Katya Golubkova, Bernadette Baum, Gerry Doyle Organizations: Food, REUTERS, China, Japan, International Atomic Energy Agency, IAEA, Japan's Ministry, Environment, Thomson Locations: Soma, Fukushima Prefecture, Japan, Russia, Moscow, Russian, China, South Korea, Tokyo

☆ Russian e-commerce firm Ozon loses latest appeal against Nasdaq delisting
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Ozon, one of Russia's top e-commerce companies, raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked a mini-IPO boom for Russian firms. Trading in Ozon's securities on Nasdaq was suspended soon after Russia despatched troops to Ukraine in February 2022, as were Russian company listings on the London Stock Exchange. "Our ADSs will not be delisted from Nasdaq until all available review and appeal procedures and periods available under the Nasdaq listing rules have expired," Ozon said in a statement. In late July, Ozon's ADSs began trading on Kazakhstan's Astana International Exchange (AIX), a move that it said could increase liquidity, especially for international investors to trade its securities. Russian recruiter Headhunter's securities have already been delisted from Nasdaq, but payments provider Qiwi (QIWI.O) and tech giant Yandex (YNDX.O) were thrown a lifeline to remain on Nasdaq, provided they divest entirely of their Russian assets.

Persons: Ozon, Ozon's ADSs, Olga Popova, Alexander Marrow, Mark Potter Organizations: Nasdaq, Trading, London Stock Exchange, Kazakhstan's Astana International Exchange, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, London

☆ Russia's McDonald's heir growing quickly, in for the long haul
▼ + stars: | 2023-06-06 | by ( Olga Popova | ) www.reuters.com time to read: +2 min

McDonald's Corp (MCD.N) closed its Russian restaurants soon after Moscow sent tens of thousands of troops into Ukraine in February 2022, eventually selling to a local licensee, Alexander Govor. The chain has sold more than 24 million of its Big Mac replacement burgers, the Big Hit, CEO Oleg Paroev said. Hamstrung by agreements with McDonald's, Vkusno & tochka, can not open restaurants in countries where McDonald's already has a presence. Russian authorities and Govor have said McDonald's has an option to buy back its Russia restaurants within 15 years. It would find a market where Vkusno & tochka is the master franchisee should it do so.

Persons: Alexander Govor, Govor, Oleg Paroev, Natalya Fadeeva, Evgenia, I've, McDonald's, Olga Popova, Alexander Marrow, Sharon Singleton Organizations: McDonald's Corp, Reuters, REUTERS, Thomson Locations: Russia, Ukraine MOSCOW, Moscow, Ukraine, Russian, McDonald's, Belarus, Kazakhstan

☆ Russia's M.Video posts adjusted net loss of 6.7 billion roubles in 2022
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: 1 min

MOSCOW, May 2 (Reuters) - Russian electronics retailer M.Video (MVID.MM) said its adjusted net loss shrunk 10.2% in 2022 to 6.7 billion roubles ($83 million), as overall sales fell because of economic uncertainty. The company said revenue was down 15.5% to 402.5 billion roubles in results presented under International Accounting Standard 17. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 69.5% to 15.5 billion roubles, the company said. ($1 = 80.4000 roubles)Reporting by Olga Popova; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Russian electronics retailer M.Video-Eldorado's sales drop in 2022
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. The West moved to curb technology exports to Russia after Moscow sent tens of thousands of troops into Ukraine last year, while several leading manufacturers pulled out of the Russian market. The company cited high volatility in sales of household appliances and electronics. The overall size of the electronics and appliances market in Russia dipped from 2.5 trillion roubles in 2021 to 2.3 trillion in 2022, M.Video estimated in the investor presentation. With government support, Russia's retailers have also moved to boost their sales of electronics from countries that have not imposed sanctions on Russia, such as China, Turkey and India.

☆ Russia's Ozon reports 55% jump in 2022 revenue
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, April 6 (Reuters) - Russian online retailer Ozon (OZON.O) on Thursday said its 2022 revenue jumped 55% to 277.1 billion roubles ($3.4 billion) but costs related to a major fire a fulfilment centre pushed it to a larger annual loss. Ozon's gross merchandise value (GMV) - the total value of goods and services sold by the platform - jumped 86% to 832.2 billion roubles ($10.30 billion), the unaudited financial results showed. Losses rose 2% to 58.2 billion roubles. For the fourth quarter of 2022, Ozon's GMV was up 67% at 296 billion roubles and losses shrank by 46% to 11.2 billion roubles compared to the same period of 2021, Ozon said. Revenue was up 41% year-on-year during the three months to 93.6 billion roubles.

☆ Kraft Heinz agrees to sell Russian baby food business
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, March 31 (Reuters) - Kraft Heinz (KHC.O) has agreed to sell its baby food business in Russia to local drinks and snacks maker Chernogolovka, the U.S. food giant said on Friday, as domestic firms continue to capitalise on the departure of Western brands. According to Chernogolovka, the deal will include two factories and the "Umnitsa" and "Sami s usami" brands. "We anticipate closing the deal in the second half of 2023 (Q3) and will continue working with Chernogolovka post-completion, to ensure a smooth integration," a Kraft Heinz spokesperson told Reuters. Neither Kraft Heinz nor Chernogolovka disclosed the price or mentioned any buyback clause. Russia's Kommersant newspaper reported on Thursday, citing sources, that Kraft Heinz estimates the deal's value at between 2.5 and 3 billion roubles ($32.4 to $38.9 million) but the government is yet to approve the valuation.

Most international grain traders have stopped new investment in Russia since last year following Moscow's invasion of Ukraine but continued exporting Russian wheat. "As grain export-related challenges continue to mount, Cargill will stop elevating Russian grain for export in July 2023 after the completion of the 2022-2023 season," the company said in an emailed statement. "The cessation of its export activities on the Russian market will not affect the volume of domestic grain shipments abroad. The company's grain export assets will continue to operate regardless of who manages them," the agriculture ministry told Reuters. According to RBC business daily, Cargill will export 2.2 million tonnes of Russian grain in the 2022-23 exporting season, or around 4% of Russia's total grain exports.

☆ Russia's Ozon appeals Nasdaq delisting plan
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

Nasdaq suspended trading in the securities of a number of companies operating in Russia on Feb. 28, 2022, days after Moscow sent tens of thousands of troops to Ukraine. Last week, the exchange notified a handful of Russian companies of delisting plans. "On March 21, Ozon filed an appeal against Nasdaq's decision on the compulsory delisting of the company's American depositary shares (ADSs)," Ozon said in a statement. "No matter how this plays out, the delisting decision has no impact whatsoever on the company's operations and does not affect its financial stability," Ozon said. Ozon raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked a mini-IPO boom for Russian firms.

☆ Russia's Ozon intends to stay public as Nasdaq starts delisting process
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

Nasdaq suspended trading in the securities of a number of companies operating in Russia on Feb. 28, 2022, days after Moscow despatched tens of thousands of troops to Ukraine. On Wednesday, the exchange notified a handful of Russian companies of delisting plans. "Going forward, and in any scenario, we act in the interests of our investors," Ozon said in a statement. Ozon raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked a mini-IPO boom for Russian firms. Internet giant Yandex (YNDX.O), recruiter Headhunter (HHR.O) and payment service provider Qiwi (QIWI.O) were also notified of their anticipated delisting from Nasdaq, the companies said.

☆ Womb for rent: More women are working as commercial surrogates as global demand rises
▼ + stars: | 2023-03-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

Typically, commercial surrogacy is gestational surrogacy, meaning the surrogate has no biological link to the child. The growing commercial surrogacy industryDilara is one of a growing number of women turning to commercial surrogacy as a source of income amid swelling global demand for carriers. The global commercial surrogacy industry was worth an estimated $14 billion in 2022, according to market research consultancy Global Market Insights — though exact numbers are hard to verify given the private nature of many arrangements. In the first three quarters of 2022, more than 400 parental orders were made for surrogate parents in the U.K. Women's rights groups are calling for greater regulation of the commercial surrogacy industry.

☆ Top brands pull out of Russia, but their goods remain easy to find
▼ + stars: | 2023-02-22 | by ( Alexander Marrow | ) www.reuters.com time to read: +8 min

Brands' continued availability shows the challenge companies face in controlling supply chains when exiting a market. Market leader Wildberries sells old stock from Inditex brands and has almost 17,000 goods in its Zara catalogue. Informal supply routes could lead to more poor-quality goods entering Russia, however, as regulators lose oversight, Ben Tzion said. IKEA brand owner Inter IKEA Group said it sold remaining stock for an undisclosed amount to Yandex as it down-scaled IKEA Retail Russia. IKEA said it was looking into goods being advertised as similar to IKEA online.

☆ Agreement over IKEA's Russia sale could be reached in days, says Moscow
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of IKEA on a closed store in Kotelniki outside Moscow, Russia July 5, 2022. IKEA decided to close its shops in Russia after Moscow sent tens of thousands of troops to Ukraine in February in what it said was a 'special military operation'. Industry and Trade Minister Denis Manturov said negotiations were ongoing, but declined to do disclose who the potential buyers were. "The sales activities of our factories in Russia are proceeding according to plan," IKEA said in a statement. "We have agreed with potential buyers not to share any details with respect to them and the integrity of the sales process."

Russia is on track to harvest a record grain crop of 150 million tonnes, including 100 million tonnes of wheat, in 2022. SANCTIONS CAUSE SOME LOSSESSovecon and another consultancy IKAR see December wheat exports at 4.0-4.2 million tonnes. That is close to the record of 4.3 million tonnes set in December, 2017, Sovecon said, adding that Russia exported 4.3 million tonnes of wheat in November. Sovecon expects Russia's July-December wheat exports at 22.9 million tonnes, up 2% year-on-year and equal to the average of the past five years. It estimates Russia's total 2022/23 grain exports at 56.1 million tonnes, including 43.7 million of wheat.

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