1st Jun 2023


McDonald's to sell up and exit Russia

Iconic Western fast-food chain McDonald's on Monday set out detailed plans for exiting Russia due to its war on Ukraine, saying it will sell all its restaurants there and not allow franchises to use its brand or logo. "It is impossible to ignore the humanitarian crisis caused by the war in Ukraine," CEO Chris Kempczinski said, while voicing sympathy for former Russian employees who will lose their jobs.

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ECB: eurozone home prices could see 'disorderly' fall

The European Central Bank in its Financial Stability Review warned EU home prices could see a 'disorderly' fall as high mortgage rates are making houses unaffordable for households and unattractive for investors.

Adapting to Southern Europe's 'new normal' — from droughts to floods

Extreme weather events in recent months have worsened agricultural production in southern Europe, prompting concerns for authorities in Portugal, Spain, France and Italy. As countries will likely face dryer conditions, experts urge adaptation measures for the 'new normal'.

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