U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Nvidia’s $100 Billion OpenAI Investment Faces Internal Doubts, Report Says 
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
Copper Prices Hit Record Highs as Metals Rally Gains Momentum on Geopolitical Tensions 
Apple Forecasts Strong Revenue Growth as iPhone Demand Surges in China and India 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
Boeing Secures New Labor Contract With Former Spirit AeroSystems Employees 
U.S. Dollar Slides for Second Week as Tariff Threats and Iran Tensions Shake Markets 
Sandisk Stock Soars After Blowout Earnings and AI-Driven Outlook 
Toyota Retains Global Auto Sales Crown in 2025 With Record 11.3 Million Vehicles Sold 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
Saks Global to End Saks on Amazon Partnership Amid Bankruptcy Restructuring 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
McDonald's finally closed down its restaurant outlets in Russia this week after being criticized by the public for staying open amid the ongoing war in Ukraine. The company has been operating a total of 850 stores in the Vladimir Putin-led country, and it stated it would be losing $50 million per month for the closures.
Although the shutting down of McDonald's is just temporary, there is no certain time as to when it can return to operation. The re-opening of its business will depend on the situation in Ukraine, and the company said it is expecting huge losses until it can operate again.
According to CNBC, during the UBS Global Consumer and Retail Conference on Wednesday, March 9, McDonald's chief financial officer, Kevin Ozan, said that they are still calculating the impact of the closure on the company, but at this time, their estimates suggest around $50 million a month.
This amount is said to be roughly $.05 cents to $.06 cents per share. To understand how much this is - McDonald's Q4 net income was $1.64 billion, and its earnings per share was $2.18.
"We expect this to be temporary and we certainly don't take this decision lightly, but for us, this is about doing what we think is the right thing to do, both for the global business and for our people locally," the CFO said during the conference.
Meanwhile, it was on Tuesday, March 8, when McDonald's announced it will be shutting down its restaurants in Russia. All of its 850 stores will temporarily cease operations. Los Angeles Times reported that the company will still continue to pay its 62,000 staff while the outlets are closed.
"We are continuing to pay full salaries for our Ukrainian employees and have donated $5 million to our Employee Assistance Fund, and continue to support relief efforts led by the International Red Cross in the region," McDonald's president and chief executive officer, Chris Kempczinski, said via a memo to employees. "We have been overwhelmed by the offers of support across the System and thank you for your generous contributions to date."
