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☆ These are the stocks that will benefit — and lose out — from the wellness trend, Morgan Stanley says
▼ + stars: | 2023-11-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

The Covid-19 pandemic was a big factor behind the rising focus on weight and its implications for health, Morgan Stanley noted. CNBC Pro takes a look at the stocks Morgan Stanley says will be affected by those trends — both positively and negatively. Beneficiaries Morgan Stanley said "functional" foods, waters, skincare and cosmetics, and consumer health should be well positioned. Morgan Stanley upgraded its rating for Danone to "overweight." At risk Alcoholic beverages and soft drinks appear to be among categories most affected by the GLP-1 trend and the focus on wellness, Morgan Stanley said.

Persons: they're, Morgan Stanley, Mounjaro, Nestle, Remy Cointreau, Beers, Brewer, there's, Britvic, CNBC's Michael Bloom Organizations: Wellness, McKinsey, GLP, Walmart, CNBC Pro, Danone, United States —, Nestle, L'Oreal, Beiersdorf, Diageo, Brewer Anheuser, Busch Inbev Locations: Europe, United States, British

☆ Reducing pesticides in food: Major food manufacturers earn an F grade
▼ + stars: | 2023-11-08 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

“Pesticide exposure during pregnancy may lead to an increased risk of birth defects, low birth weight, and fetal death,” the American Academy of Pediatrics stated. “Exposure in childhood has been linked to attention and learning problems, as well as cancer.”Yet pesticide exposure is widespread, even for chemicals that were banned years ago by federal agencies. In the 2023 Shopper’s Guide to Pesticides in Produce — a list of nonorganic produce with the most pesticides — researchers found 210 different pesticides on the 12 foods. In addition, consumers can ask food companies to “release the actual test results of pesticide concentrations in their products,” said EWG’s Temkin. “Food companies have not been publishing such data, instead relying on generalities,” she said via email.

Persons: ”, Cailin Dendas, “, disheartening, Jane Houlihan, Houlihan, Kale, collard, ” Alexis Temkin, toxicologist, ” Dendas, Jim Watson, Dendas, Sow, General Mills, Archer Daniels, Lamb, Nestlé, Dane Lisser, Shelby Stoolman, EWG’s, Temkin, ” Temkin, “ Steer Organizations: CNN, “ Pesticides, Healthy, “, ”, American Academy of Pediatrics, Environmental, US Environmental Protection Agency, Environmental Protection Agency, US Centers for Disease Control, Getty, Archer Daniels Midland Co, PepsiCo Inc, Conagra Brands Inc, Campbell Soup Company, Lamb Weston Holdings Inc, G Foods Inc, Cargill, Danone S.A, Del Monte Pacific Ltd, General, Inc, Kraft Heinz Company, Mars Incorporated, Mondelēz, Post Holdings Inc, ADM, US Food and Drug Administration Locations: United States, AFP

☆ Carlsberg would rather lose its Russian business than negotiate a deal with Moscow, and it shows how hard it is for companies to exit the market
▼ + stars: | 2023-11-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The CEO of Danish brewer Carlsberg says Moscow has "stolen" its business in Russia. Moscow seized Carlsberg's assets in July, weeks after the brewer announced it had found a buyer for its Russian business. Carlsberg said it's cutting ties with its Russian business as it can't find an acceptable solution to resolve the issue. AdvertisementAdvertisementDanish brewer Carlsberg operates eight breweries and employs more than 8,000 people through its Russian unit, Baltika Breweries. However, on July 16, Russia seized Baltika.

Persons: Carlsberg, Moscow, —, Jacob Aarup, Andersen, Dmitry Medvedev, Medvedev, they'd, Baltika, Carlsberg's Organizations: Service, Carlsberg, Baltika Breweries, Carlsberg Group, Financial Times, Russian, Unilever Locations: Moscow, Russia, Carlsberg, Ukraine, British

☆ French food group Danone raises sales goal as Q3 beats forecasts
▼ + stars: | 2023-10-26 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

Dairy products of French food group Danone are seen in a supermarket in Nice, France, January 9, 2023. REUTERS/Eric Gaillard/File photo Acquire Licensing RightsPARIS, Oct 26 (Reuters) - French food group Danone (DANO.PA) raised its 2023 revenue growth forecast after its third-quarter sales beat analysts' estimates, as higher prices helped offset lower volumes. Overall, Danone increased its prices by 6.6% during the quarter while sales volume declined 0.3%, a sequential improvement led by Essential Dairy and Plant-based. Danone, like its rivals Nestle (NESN.S) and Unilever (ULVR.L), has increased prices to cope with higher commodities and supply chain costs. Last week, Nestle (NESN.S) posted lower-than-expected nine-month sales growth as higher product prices made shoppers balk.

Persons: Eric Gaillard, Antoine de Saint, Affrique, Dominique Vidalon, Sudip Kar, Gupta, Jacqueline Wong Organizations: Danone, REUTERS, Rights, Evian, Essential Dairy, Nestle, Unilever, Investors, Thomson Locations: Nice, France, Europe

☆ Russian war economy is overheating on a powder keg
▼ + stars: | 2023-10-25 | by ( Pierre Briancon | ) www.reuters.com time to read: +8 min

LONDON, Oct 25 (Reuters Breakingviews) - His war on Ukraine may not be unfolding according to plan, but President Vladimir Putin can still claim that the Russian economy is performing, as he says, “better than previously expected”. This kind of understatement is unusual for the Kremlin leader: with a tight labour market and inflation showing no signs of abating, the Russian economy is in fact overheating. And these are conservative numbers, because other types of war spending – such as new construction in the occupied territories – are hidden in other sections of the budget. The Russian currency is down 30% since its January high. Follow @pierrebri on XCONTEXT NEWSThe Russian economy will grow by 2.2% in 2023, the International Monetary Fund said in its October World Economic Outlook.

Persons: Vladimir Putin, “, Putin, Alexandra Prokopenko, Yevgeny Prigozhin, Wagner, Francesco Guerrera, Streisand Neto, Thomas Shum Organizations: Reuters, Kremlin, International Monetary, Bank of Russia, Reuters Graphics Reuters, Bank of, Danone, Carlsberg, International Monetary Fund, Thomson Locations: Ukraine, Russian, Russia, –, Moscow, Europe, Lithuania, microchips, Kazakhstan, Bank of Russia, United States, China, U.S, Beijing

☆ Russian court grants unspecified 'interim measures' as Baltika sues Carlsberg
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Barrels are seen at the museum of the Baltika brewery in St. Petersburg, October 12, 2014. REUTERS/Alexander Demianchuk/File Photo Acquire Licensing RightsMOSCOW, Oct 20 (Reuters) - A court in St Petersburg has imposed unspecified "interim measures" against Carlsberg (CARLb.CO) in favour of Baltika Breweries, court filings showed, after the Danish brewer stopped licensing its brands in Russia this month. The court filings provided no information other than that interim measures had been granted in a lawsuit filed on Oct. 17 by Baltika against Carlsberg. In another lawsuit filed on Sept. 25, before Carlsberg terminated the licence agreements, Baltika had asked a Russian court to prohibit Carlsberg from initiating legal proceedings in Denmark, citing the risk that Carlsberg could seek to remove Baltika's right to use certain trademarks. The court did not grant interim measures, but a hearing in that case is scheduled for Nov. 15.

Persons: Alexander Demianchuk, Vladimir Putin, Baltika, Alexander Marrow, Kevin Liffey Organizations: REUTERS, Rights, Carlsberg, Baltika Breweries, Carlsberg Group, Baltika, Reuters, Thomson Locations: St . Petersburg, St Petersburg, Danish, Russia, Russian, Ukraine, Denmark

☆ This highly profitable industry is booming as the population ages
▼ + stars: | 2023-10-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +10 min

Enteral nutrition is administered through a feeding tube or it can be taken orally. Fresenius owns 32% of Fresenius Medical Center, which saw shares drop on recent news that Ozempic's kidney disease treatment trial showed signs of success. Clinical nutrition is about 20% of group profits and an important subset of its larger specialized nutrition unit, Ackerman said. "Many investors only focus only on their infant formula unit and don't know how big or how profitable clinical nutrition is," he said. "Clinical nutrition is the jewel in Danone's crown and probably the most attractive part of Danone's portfolio, yet is hidden from investors."

Persons: Stefano Natella, — hasn't, Hassan Al, Wakeel, Warren Ackerman, Ackerman, Lindsay Clarke, Enteral, Danone's Nutrison, —, Baxter, Abbott, Sara Hennicken, Fresenius, Nestlé, Mark Schneider, Nestle, — CNBC's Michael Bloom Organizations: Guggenheim, World Health Organization, WHO, Barclays, Danone, Fresenius, Al, Alliance for Aging Research, Aging, CNBC, Nestle, Companies, — Nestle, Nutrition, Fresenius Medical Locations: German, Paris, China, Swiss, United States, parenteral, Latin America

☆ Nestle shares at two-year low as investors weigh Wegovy rollout
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Hannah McKay/Photo Illustration/File Photo Acquire Licensing RightsOct 6 (Reuters) - Nestle (NESN.S) shares were under pressure on Friday as investors weighed the potential impact of Novo Nordisk's (NOVOb.CO) blockbuster weight-losing drug Wegovy and how it could reduce spending on food. The KitKat and Nescafe coffee maker's shares were down 2% and headed for their lowest level in more than two years. However, Cox does not regard this as a substantial risk to Nestle and the broader food industry in the long term. Bruno Monteyne from Bernstein also pointed to the Wegovy impact, but saw little logic in the sell-off. "Danone sells water, baby milk powder, and yogurt: not sure how those would be negatively impacted by GLP1 / Wegovy?"

Persons: Kat, Hannah McKay, Wegovy, Peers, Kepler Cheuvreux, Jon Cox, John Furner, Cox, Bruno Monteyne, Bernstein, Andrey Sychev, John Revill, Mark Potter Organizations: Nestle, REUTERS, Peers Danone, Unilever, Kepler, Bloomberg, Danone, Health, Thomson Locations: London, Britain, U.S

Reuters GraphicsReuters spoke to four shareholders that have launched activist campaigns who said that some big consumer goods companies are ripe for executive changes after failing to impress. Reuters GraphicsMany large consumer goods companies generally hold low levels of debt and are cash generative, said André Medeiros, managing director and Alvarez & Marsal's EMEA consumer and retail leader. 'ADVOCATING FOR MANAGEMENT CHANGE'Gianluca Ferrari, founding partner of investor Clearway Capital, said his firm had some consumer companies on its radar but declined to name them. He did not identify specific executives nor disclose the nature of his work with consumer companies. In October, Reuters reported that Peltz had approached former CEOs of consumer goods companies as candidates for the Unilever top job.

Persons: Danone's, Emmanuel Faber, David Samra, Samra, Alvarez, Marsal, André Medeiros, Nelson Peltz, Artisan's Samra, We're, Peltz, Heinz, Gianluca Ferrari, Ferrari, Clearway, Glanbia, Faber, Bluebell, Nicolas Ceron, Ceron, underperformance, Kraft Heinz, KHC.O, Andrew Hayes, Russell Reynolds, John Long, Korn, Long, Alan Jope departure's, Unilever's, Graeme Pitkethly, Hein Schumacher, Heinz's, Bill Johnson, Nelson, Richa Naidu, Matt Scuffham, Daniel Flynn Organizations: Artisan Partners, Reuters, Danone, Evian, Unilever, Consumer Products, Reuters Graphics Reuters, Reuters Graphics, Marsal's EMEA, Billionaire, Artisan, Cadbury Schweppes, Heinz, Trian, Bluebell Capital, shareholders, Bluebell, Diageo, Russell Reynolds Associates, Thomson Locations: York, H.J, Frankfurt, Western Europe, North America

☆ For Western firms, the risk of leaving Russia could be higher than staying
▼ + stars: | 2023-09-11 | by ( Greg Kennedy | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesA wave of Western companies exited Russia promptly after Moscow's invasion of Ukraine. For firms wishing to quit, amid heavy reputational and financial damage, the prospect of leaving is becoming harder with time. Nabi Abdullaev, a partner at Control Risks and former editor of the Moscow Times, told CNBC: "Some companies decide to stay because the risk of leaving Russia, at this moment at least, is higher than the risk of staying." Western companies that remain in the country are able to continue doing business because, despite sanctions, numerous transactions and activities are still authorized. In comparison, sanctions on Iran and North Korea are a far more severe environment for Western companies to operate within.

Persons: Nabi Abdullaev, Abdullaev, Vladimir Putin, Maria Shagina, Philip Morris, Heineken, Shagina Organizations: Bloomberg, Getty, Moscow Times, CNBC, Companies, Carlsberg, Danone, International Institute for Strategic Studies, Unilever, Nestle, PepsiCo, Research, Heineken, Russian Arnest, Kyiv School of Economics Locations: Moskva, Moscow, Russia, Ukraine, Russian, UniCredit, Raiffeisen, Ukrainian, Iran, North Korea

☆ A timeline of 5 major hurdles Russia's imposed on Western firms trying to exit the country
▼ + stars: | 2023-09-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

The Russian foreign ministry did not immediately respond to a request for comment from Insider sent outside regular business hours. Some companies trying to exit Russia recently are facing demands of even steeper discounts, Reuters reported on August 25, citing three persons familiar with exit processes for foreign companies. Both firms had been trying to exit Russia for months before the seizures, before the sudden takeover. In July, Moscow targeted the Russian assets of food and beverage giants Danone and Carlsberg for seizures. A month later, in September, Russia demanded foreign banks unfreeze Russian assets if they wanted to exit the market.

Persons: Linklaters, —, Vladimir Putin's, Germany's, Fortum —, Putin, Dmitry Peskov, Alexei Moiseev Organizations: Service, Yale University, Russia, Russian, Novaya Gazeta, Companies, Kremlin, Investors, Danone, Carlsberg, Financial Times, UBS, Credit Suisse —, Zenit Bank, Reuters, Raiffeisen Locations: Russia, Wall, Silicon, Ukraine, London, Russian, Moscow

The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Moscow already demands a 50% discount on all foreign deals after consultants selected by the Russian government have valued the business. But three people familiar with the exit process for foreign companies said that some deals are facing demands for additional discounts before the government gives a green light. Another person, who works on M&A transactions and with foreign companies, said deals exceeding $100 million were at particular risk of being denied. In its biannual financial stability review, the central bank said foreign companies under pressure to leave Russia were doing so on "unfavourable" terms.

Persons: Evgenia, Carlsberg's, Intesa, Vladimir Putin's, Suren Gortsunyan, Rybalkin, Gortsunyan, Alexey Kupriyanov, Elena Fabrichnaya, Alexander Marrow, Victor Goury, Josephine Mason, Jane Merriman Organizations: REUTERS, Reuters, Heineken, Arnest, Companies, Nasdaq, Russia, Dyakin, Partners, Aspring, Nato, Thomson Locations: Moscow, Russia, Ukraine, MOSCOW, Russian, London, Laffont, Gdansk

☆ Heineken exits Russia with one-euro sale of operations
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw/File Photo Acquire Licensing RightsBRUSSELS, Aug 25 (Reuters) - Dutch brewer Heineken (HEIN.AS) said on Friday it had completed its exit from Russia by selling its operations there to Russia's Arnest Group for a symbolic one euro. Heineken announced its intention to exit Russia in March 2022, after Russia's invasion of Ukraine, acknowledging that the process had taken longer than expected. Many multinational companies flocked to leave Russia after the West imposed unprecedented sanctions on Moscow, but the Kremlin has retaliated by seizing some assets. Heineken had seven breweries in Russia and 1,800 employees, who will receive employment guarantees for the next three years. The Dutch brewer removed its Heineken brand from Russia last year and production of Amstel is to be phased out within six months.

Persons: de, Dolf van den Brink, Vladimir Putin, Turkey's, Heineken, Philip Blenkinsop, Jane Merriman Organizations: Heineken, REUTERS, Rights, Arnest, Kremlin, Anheuser, Busch InBev, Arnest Group, Thomson Locations: Nijmegen, Netherlands, Dutch, Russia, Ukraine, Moscow, Russian, Amstel

☆ Domino's Pizza will close in Russia
▼ + stars: | 2023-08-21 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Domino’s Pizza will close all its outlets in Russia, becoming one of the first major Western fast-food chains to exit the country since McDonald’s and Starbucks left more than a year ago. DP Eurasia — the company that owns franchise rights for the Domino’s Pizza brand in Russia, Turkey, Azerbaijan and Georgia — said Monday that it would file for bankruptcy for its Russian unit, DPRussia. The move highlights the increasingly hard choices facing Western firms that stayed in Russia after the start of the Ukraine war. The Kremlin has made it vastly more difficult and more costly for Western companies to sell their Russian businesses. Starbucks became Stars Coffee and McDonald’s is now “Vkusno i tochka,” which translates to “Tasty, period.”In a statement, New York-listed Domino’s Pizza Inc (DPZ).

Persons: Georgia —, “ Organizations: London CNN, Starbucks, Eurasia —, Carlsberg, Danone, ” DP Eurasia, DP, Yale University, Kremlin Locations: Russia, Turkey, Azerbaijan, Georgia, Ukraine, ”, New York

☆ Moscow banned 2 major Swiss banks from selling shares in its subsidiaries after a Russian bank said it would lose money from their exit
▼ + stars: | 2023-08-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A Moscow court has banned UBS and Credit Suisse from disposing of shares in their Russian subsidiaries. Russia witnessed an exodus of Western companies after it invaded Ukraine. A Moscow court has banned two major Swiss banks — UBS and Credit Suisse — from trying to wriggle their way out of their Russian subsidiaries, Reuters reported on Tuesday, citing court documents. Moscow-based Zenit Bank requested the ban, citing concerns about losing money should the two Swiss banks exit, per the news agency. Zenit also requested the court to seize funds belonging to UBS and Credit Suisse, but the application was not granted, per Reuters.

Persons: UBS —, Vladimir Putin, Jeffrey Sonnenfeld Organizations: UBS, Credit Suisse, Zenit Bank ., Service, Credit Suisse —, Reuters, Zenit Bank, Zenit, Carlsberg, Danone, Yale School of Management Locations: Moscow, Zenit Bank . Russia, Ukraine, Wall, Silicon, Russia, Intergrain, Luxembourg, Russian

[1/2] The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Maksut Shadaev, the head of Russia's ministry of digital affairs, told parliament in December that around 100,000 IT specialists had left Russia in 2022. It is not yet clear whether Volozh's comments may have any bearing on how Russia decides to proceed with the company. One of the sources said "hawks" in state companies believed nothing at all should be paid to foreigners. Two sources said VTB had never been a serious option as a buyer, given sanctions on the state lender.

Persons: Yandex, Maksut Shadaev, Ramzan Kadyrov, Arkady Volozh, Andrei Kostin, VTB, Alexei Kudrin, Alexander Marrow, Polina Devitt, Mike Collett, White, Susan Fenton Organizations: REUTERS, nationalising Nasdaq, Reuters, Yandex NV, Yandex, U.S, Kremlin, Thomson Locations: Moscow, Russia, nationalising, Ukraine, Serbia, Yandex

☆ Europe's biggest companies reported a combined €100 billion loss from leaving Russia, report says
▼ + stars: | 2023-08-07 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Since the invasion of Ukraine last year, companies have been scrambling to cut ties with Russia. An FT survey found that companies lost €100 billion attempting to leave the state. European companies have lost more than €100 billion in Russia since its invasion of Ukraine, according to the Financial Times. If energy and utilities were excluded from the survey, the largest writedowns come from Germany's chemical and automotive industries. In December 2022, Russia started forcing those companies selling their assets to dispose of them at a 50% discount, leading to a scramble among domestic businessmen for bargain-bin assets.

Persons: Putin, TotalEnergies –, Yale, Nabi Abdullaev, Vladimir Putin Organizations: Kremlin, Morning, Financial, BP, Shell, Danone Locations: Ukraine, Russia, Danone's

☆ JPMorgan says this sector is in 'pole position' — and names 5 global stocks set to outperform
▼ + stars: | 2023-08-07 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

Analysts at JPMorgan named five global stocks in a sector they described as being in "pole position," following the Federal Reserve 's latest rate hike. We address which sectors typically lead in the aftermath of the last Fed hike, Staples and Healthcare are in pole position," the analysts led by Mislav Matejka stated in a July 31 note to investors. The bank gave French food manufacturer Danone an estimated 6% earnings per share (EPS) growth for 2024, and Swiss competitor Nestle 8% for the same period. Dutch retailer Ahold Delhaize is also a staples sector pick, with 7% estimated EPS growth for 2024. Budweiser brewer Anheuser-Busch InBev was named by JPMorgan too, with the bank estimating EPS growth of 18% for next year.

Persons: Mislav Matejka, CNBC's Michael Bloom, Jeff Cox Organizations: JPMorgan, Federal, Fed, Staples, Healthcare, Danone, Nestle, Tesco, Budweiser, Anheuser, Busch InBev Locations: Swiss

LONDON, July 27 (Reuters) - Nestle (NESN.S) improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world's biggest packaged food company again raised prices to cope with higher input costs. Nestle said it is narrowing its full-year organic sales growth guidance - which does not include the impact of currency movements and acquisitions - to a range of 7%-8% from a range of 6-8%. Real internal growth - or sales volumes - fell 0.8% versus expectations of a 0.6% decline. "We're still repairing our gross margin," he added. Reckitt reported sales volumes for the second quarter were down 4.3%, Unilever's quarterly volumes were down 0.3% and Danone's second-quarter volume/mix declined 2.3%.

Persons: Nestle, Mark Schneider, Schneider, Jean, Philippe Bertschy, Reckitt, Richa Naidu, Kim Coghill, Sharon Singleton Organizations: Nestle, Unilever, Thomson Locations: Swiss, Ukraine

☆ Factbox: Moscow takes control over assets of Western companies
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - President Vladimir Putin has signed decrees to take temporary control of assets belonging to some Western companies in Russia, in retaliation against foreign moves against Russian companies abroad, and warned in April the Kremlin could seize more. CARLSBERG (CARLb.CO)The Russian state took control of Danish beer company Carlsberg's stake in local brewer Baltika Breweries on July 16, putting it under "temporary management" of government property agency Rosimushchestvo, according to a decree signed by Putin. DANONE (DANO.PA)The Russian state took control of the French yoghurt maker Danone's Russian subsidiary Danone Russia on July 16, according to a decree signed by Putin, and brought it under temporary control of the government property agency. FORTUM (FORTUM.HE)On April 25, Putin signed a decree that established control over the Russian subsidiary of the Finnish utility company Fortum, which operates power plants in Russia. Compiled by Agata Rybska, Greta Rosen Fondahn; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

Persons: Vladimir Putin, Putin, Agata Rybska, Greta Rosen Fondahn, Nick Macfie Organizations: CARLSBERG, Baltika Breweries, Putin, DANONE, Danone Russia, Unipro, Thomson Locations: Russia, Russian, Finnish

☆ Live updates: Russia's war in Ukraine, losses in Bakhmut
▼ + stars: | 2023-07-26 | by ( Chris Lau | ) edition.cnn.com time to read: +1 min

Catherine Ivill/Getty Images/FILEWhen Russia launched its full-scale invasion of Ukraine in February 2022, a slew of Western companies left in protest. But some of the world’s biggest firms — including Nestlé, Heineken and snack maker Mondelez — stayed put. Companies now find themselves caught between Western sanctions and public outrage on the one hand, and an increasingly hostile Russian government on the other. The Kremlin is making it more difficult for Western firms to sell their Russian assets — and imposing steep discounts and punitive taxes when they do. “Western companies are now caught between a rock and a hard place.”Read the full story here.

Persons: Telia Parken, Catherine Ivill, —, Vladimir Putin, Carlsberg, Maria Shagina, ” Organizations: Carlsberg, UEFA Europa, FC Kobenhavn, Celtic FC, Telia, Nestlé, Heineken, Companies, Danone, Breweries, International Institute for Strategic Studies, CNN Locations: Copenhagen, Denmark, Russia, Ukraine

☆ Morning Bid: Markets brace for Fed decision, earnings flood
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

Investors will be listening carefully to Chair Jerome Powell for indications of whether or not another interest rate hike is in the pipeline. The Fed's communication could set the tone for markets ahead of policy decisions from the European Central Bank (ECB) on Thursday and the Bank of Japan (BOJ) on Friday. Reuters GraphicsEuro zone June M3 annual growth and lending data on Wednesday are unlikely to affect markets ahead of the ECB's decision. Chinese stock markets were mostly lower on Wednesday following a steep rally the day before. China's blue-chip CSI300 (.CSI300) index was down 0.3% while the CSI 300 Real Estate index gained 0.2%.

Persons: Brigid Riley, Jerome Powell, HSI, Sonali Desai, Edmund Klamann Organizations: Federal Reserve, Federal, Market, European Central Bank, Bank of Japan, ECB, Reuters, Fisher, Union Pacific Corp, eBay, Boeing, Microsoft, Carrefour, Danone, GSK, CSI, CPI, Reserve Bank of Australia, U.S, Fed, Thomson Locations: United States, U.S, Europe, France, Asia, China

☆ The Kremlin could pass a new rule making it the first in line to acquire the shares of certain companies trying to leave the country: report
▼ + stars: | 2023-07-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Kremlin could pass a new rule allowing it priority rights to acquire shares from exiting foreign firms. This would make it harder for foreign companies to leave the Russian market. Companies in the Kremlin's list of 200 strategic enterprises include food giant Danone and Finnish energy firm Fortum, per the Moscow Times. President Vladimir Putin's regime has also been imposing an increasing number of punitive measures on companies exiting the Russian market. Moscow also charges exiting companies an exit fee of at least 10% of the sale value.

Persons: Vladimir Putin, it's, Vladimir Putin's Organizations: Service, Kremlin, . Companies, Danone, Moscow Times, Financial Times, Interfax, Yale University, Novaya Gazeta Locations: Russian, Moscow, Wall, Silicon, Russia, Ukraine

This brings the total impairments related to Russia to almost 700 million euros, Danone said. The adjustment on the balance sheet of 500 million euros to reflect the negative currency transaction difference will also be recognized by Dec. 31, it added. Danone also reported a better-than-expected rise in quarterly like-for-like sales, as it increased prices again to make up for rising costs. Like-for-like sales rose 6.4% in the second quarter, beating expectations for 5.6% growth in a company-compiled consensus of 18 analysts. ($1 = 0.9047 euros)Reporting by Richa Naidu; Editing by Edmund Klamann, Muralikumar Anantharaman and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Danone, Richa Naidu, Edmund Klamann, Muralikumar Anantharaman, Conor Humphries Organizations: France's Danone, Danone, Evian, Nestle, Thomson Locations: Russia, Russian, Ukraine

☆ Why are so many Western firms staying put in Russia, despite the rising risks?
▼ + stars: | 2023-07-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

London CNN —When Russia launched its full-scale invasion of Ukraine in February 2022, a slew of Western companies left in protest. Companies now find themselves caught between Western sanctions and public outrage on the one hand, and an increasingly hostile Russian government on the other. The Kremlin is making it more difficult for Western firms to sell their Russian assets — and imposing steep discounts and punitive taxes when they do. Both companies had been finalizing sales to local buyers when President Vladimir Putin signed an order nationalizing their local assets earlier this month. Spurred by sweeping Western sanctions, oil companies, automakers, technology firms, consultancies and banks led the initial wave of departures.

Persons: —, Vladimir Putin, Carlsberg, Maria Shagina, Andrey Rudakov, Konstantin Zavrazhin, Hein Schumacher, Schumacher, ”, ” Procter, Gamble, ” Mondelez, Fortum Oyj, Jeffrey Sonnenfeld, ” Sonnenfeld, — Olesya Dmitracova Organizations: London CNN, Nestlé, Heineken, Companies, Danone, Carlsberg, Breweries, International Institute for Strategic Studies, CNN, Bloomberg, Getty, Yale University, Yale, Unilever, UL, Procter, Gamble, Treasury, Foreign, Control, Carlsberg — Locations: Russia, Ukraine, Lyubuchany, Rosneft, Moscow, Russian

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