Business

Nestle suspends capital investment in Russia According to Reuters



© Reuters. FILE PHOTO: A logo is drawn during the 152nd Annual General Meeting of Nestle in Lausanne, Switzerland on April 11, 2019. REUTERS / Denis Balibouse

By Maytaal Angel and Richa Naidu

LONDON (Reuters) – Nestle, the world’s largest packaged food group, said on Wednesday it had suspended all capital investments in Russia following its invasion of Ukraine.

The decision by the Swiss-based company follows similar moves by other food experts, who are under pressure from consumers to take a stance against the conflict.

Procter & Gamble (NYSE:) and Unilever (NYSE:) said this week that they have ended new capital investments in Russia and no longer advertise in the country. Unilever has suspended all imports and exports of products into and out of the country.

Nestle, which previously said it had stopped all advertising in Russia, told Reuters it would continue to supply essential food products in Russia, following a similar line with other food experts.

The world’s largest consumer goods companies have lagged behind, with some financial services companies, oil and gas companies and retailers pulling out of Russia altogether. They assume that Russians rely on their products for everyday life.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor is it accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so prices may be inaccurate and subject to change. differs from the actual market price, which means that the price is indicative only and is not suitable for trading purposes. Therefore, Fusion Media does not accept any responsibility for any trading losses you may incur as a result of using this data.

Fusion Media or anyone associated with Fusion Media shall not bear any liability for loss or damage resulting from reliance on information including data, quotes, charts and buy/sell signals contained in this site. Please be fully informed of the risks and costs associated with trading in financial markets, which are among the riskiest forms of investment possible.



Source link

news7d

News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button