The turnover of Russian companies in most segments of retail trade and services in April 2022 decreased compared to the same period last year, a study conducted at the request of Forbes showed. Movie theaters were the hardest hit, with their performance dropping by 43%.
Sellers of clothing and footwear recorded a drop in turnover by 14% compared to the previous year and by 2% compared to March. Sellers of electronics and household appliances — by 11% and 31% respectively. Turnover compared to last year also fell at car washes and car services, hairdressers and beauty salons, organizations providing medical services, hotels and hotels, bars and restaurants, electronics and household appliances sellers.
Compared to last year, sales increased only in the segments of grocery stores near the house and goods for construction, summer cottages and gardens. The turnover of companies from both areas in April was higher than last year by 15%. Nevertheless, both segments sank compared to March 2022 — turnover decreased by 12% and 37%, respectively.
After mass demand in late February-early March for most consumer categories of goods, especially in the middle and high price segments, there is a decrease and stabilization of demand at previous levels, says Alexei Barov, CEO of the OFD Platform: “The average purchase receipt has also decreased over the month for one visit to the outlet — this is evidence of a decline in hype.
In parallel with the decline in turnover, companies are increasing costs. In every fifth company, the cost of goods has increased by more than 30% since the beginning of February 2022, in 70% of companies — by no more than a quarter. This is evidenced by the results of a survey among 130 financial directors conducted for Forbes by the Aktion Finance service.
<<< May 05, 2022 Feed >>>
Kazakhstan refused to consolidate the status of Nazarbayev in the Constitution
“According to the members of the working group, the historical role of the first president is well known and does not require a separate enshrinement in the Constitution,” said Kazakh Secretary of State Yerlan Karin.
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The European Union will expand defense assistance to Moldova. This was stated by the head of the European Council Charles Michel at a meeting with President Maia Sandu in Chisinau.
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Rosstat reports that more than 50% of the country’s cinemas have closed due to a critical shortage of films. Revenue fell by 85%.
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In Kaliningrad, the automobile plant allocated 10 acres to employees for vegetable gardens. Thus, Avtotor decided to support the workers. Earlier it was reported that in May, most of his team will go on paid leave for three weeks.
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The United States stands ready to provide security guarantees to Sweden during the NATO membership process, Foreign Minister Ann Linde said in an interview with local SVT television after meeting with US Secretary of State Anthony Blinken.
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The Federal Reserve System (FRS) raised the federal funds rate by 50 basis points, now its range is 0.75-1% per annum, the Federal Open Market Committee (FOMC) said in a communiqué following the results May meeting.
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Billionaire Roman Abramovich’s partner David Davidovich sued the Israeli bank Hapoalim. The businessman claims that the bank blocked his account and card without warning. Hapoalim replied that he did so in accordance with the British sanctions that Davidovich fell under in mid-April
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The American company Outrider USA introduced the lightest all-wheel drive electric SUV in history. Cougar is designed specifically for people with disabilities to help them travel, hunt or fish in nature.
Portability was a key design goal of the SUV: it folds up and fits easily into the trunk of a car, and the total weight is just 59kg. The control system combines a pair of hand levers that can be tilted to control power and braking. The Coyote’s top speed is 45 km/h, but users can set their own driving speed. The price for the basic version of the SUV is $14,000, and the all-wheel drive is $20,000.
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The Financial Police and the Ministry of Agriculture launched Operation Verum et oleum (“Truth and Oil”) to protect the national standard for Extra Virgin Olive Oil. The test was carried out throughout the country, 183 samples were received.
It turned out that 27.2% of them did not meet the declared quality: instead of Extra Virgin, they often sold Virgin. We are talking about 2 million 300 thousand liters of the product. The data was transferred to the prosecutor’s office, 10 people are suspected of fraud.
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The regime of temporary restriction of flights to airports in the south and central part of Russia has been extended until May 13, the Federal Air Transport Agency said. The airports of Anapa, Belgorod, Bryansk, Voronezh, Gelendzhik, Krasnodar, Kursk, Lipetsk, Rostov-on-Don, Simferopol and Elista remain closed.
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Japan will not ban Russian oil supplies due to limited resources, but Tokyo supports the measures being introduced, Japanese Minister of Economy, Trade and Industry Koichi Hagiuda said at a press conference during a visit to the United States, Kyodo reports.
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Citymobil has completed a deal to transfer its assets to a new owner — the St. Petersburg company Trans-Mission (owns the Gruzovichkof and Taxovichkof services, is part of the People & People Management Company), RBC was told in the press service of Citymobil.
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French President Emmanuel Macron and Indian Prime Minister Narendra Modi met in Paris. According to the Indian Foreign Ministry, the heads of state have reached a «broad understanding of each other’s positions»
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Executive directors, management and technical staff of Shell have left Sakhalin-2, the company reports. Earlier it became known that Shell began withdrawing from the Sakhalin-2 LNG project. According to media reports, the company would like to return part of the $ 5 billion that it may lose due to leaving the Russian Federation.
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The French Financial Markets Authority has registered the crypto exchange as a service provider for servicing digital assets, according to the company’s blog. This gives her the right to officially offer services for trading and storing bitcoins and other cryptocurrencies. Binance is now planning to open a regional headquarters in Paris.
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Anglo-Dutch Shell in its reporting for the first quarter of 2022 recognized expenses from the exit from Russian assets at the level of $3.9 billion after taxes, the company said.
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Spain has frozen 12 accounts and funds associated with five entrepreneurs from Russia who are under EU sanctions. In addition, three yachts were detained in Spain and measures were taken against 23 properties that are related to Russian businessmen.
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The Insider: The villa of the family of Alfa Bank founder Mikhail Fridman was arrested in Saint-Tropez. The billionaire rented it out and earned from €180,000 to €440,000 per month. Recently, Friedman complained that his bank card was blocked and he could not pay for the cleaning of his mansion.
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The Russian business of the Italian UniCredit in the first quarter recorded a loss of 915 million euros, negatively affecting the overall results of the group in the reporting period, follows from the UniCredit message.
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The world’s largest online auction eBay Inc. recorded a net loss in the first quarter of 2022 due to portfolio repricing. The figure was $1.34 billion, or $2.28 per share, compared with net income of $641 million, or $0.92 per share, a year earlier, the company said in a report.
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The loss of the Belgian brewing company AB InBev due to the planned sale of assets in the Russian Federation in the first quarter of 2022 amounted to $1.1 billion. As a result, the company’s net profit decreased from $595 million to $95 million.
On April 24, it became known that AB InBev plans to sell its stake in the AB InBev Efes joint venture. The company owns over 500 beer brands. In particular Budweiser, Corona, Stella Artois, Beck’s, Hoegaarden, Leffe, Brahma and Jupiler.
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Seven employees of the Danish embassy in Russia have been declared persona non grata, according to the Russian Foreign Ministry. Diplomats must leave the country within two weeks.
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The UK Revenue Service has revoked the Moscow Exchange’s status as a recognized stock exchange. Due to the restrictions of the Central Bank, brokers on the Moscow Exchange are prohibited from selling assets at the direction of non-residents, so the site “no longer operates in accordance with normal commercial standards,” the British agency explained earlier.
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The Mondi Group will sell its assets in Russia. In the Russian Federation, it owns three enterprises for the production of paper, which employs 5,300 employees. Mondi noted that according to their data, the value of the company’s Russian assets was €687 million.
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Roskosmos signed a contract with the Rocket and Space Corporation (RKK) Energia for the development of a draft design of the Russian Orbital Service Station (ROSS) for 2.7 billion rubles, follows from the data of the public procurement portal
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The average cost per square meter in new buildings in old Moscow increased by a quarter over the year and amounted to 370.4 thousand rubles, according to a report by the Inkom-Nedvizhimost agency.
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The company Clarivate Analytics, which owns the base of scientific publications, announced that they closed access for Russian users and will no longer evaluate papers in new scientific journals in Russia
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OPEC ministers and non-alliance ministers have agreed to increase monthly total oil production by 432,000 barrels per day (bpd) in June 2022.
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Elon Musk has received about $ 7.1 billion in new financial obligations for the takeover of Twitter Inc. for $44 billion, with the support of the crypto exchange Binance, Brookfield, Fidelity Management & Research and Qatar Holding.
Musk also enlisted the support of the entrepreneur and co-founder of Oracle Corp. Larry Ellison, who has a large stake in Tesla and a seat on the company’s board of directors. The Ellison Trust Fund pledged $1 billion to fund the deal.
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The European Union will allocate an additional €200 million in humanitarian aid to Ukraine, said the head of the European Commission, Ursula von der Leyen.
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France will increase assistance to Ukraine to €2 billion. Macron said that the country’s authorities made such a decision in connection with the need to increase the volume of humanitarian assistance to the population, as well as the restoration of infrastructure facilities.
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Germany has begun construction of an LNG terminal. The first stone was laid in the port city of Wilhelmshaven. Germany intends to complete construction and connect the terminal to the gas supply system in an accelerated manner within 10 months, Economics Minister Robert Habek announced during the ceremony.
Khabek also announced the construction of other terminals. It is planned that in the future this infrastructure can also be used to receive supplies of «green» hydrogen.
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The Bank of England raised its key rate by 0.25 percentage points to 1%. This is the highest level in 13 years.
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Club3D has launched the first USB-C 2.1 cables with 240W charging power. For comparison, the current USB-C 2.0 standard is limited to 100 watts. Also, the device has a data throughput of up to 40 gigabits per second and can transmit a video signal in resolution up to 8K and a frequency of up to 60 hertz.
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Many objects in Russian resorts began to reduce prices for the summer season due to low demand, they fell by 15-45%, Irina Tyurina, spokeswoman for the Russian Union of Tourism Industry (PCT), told Interfax.
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The Council of the Republic of the National Assembly of Belarus (upper house) supported amendments to the legislation that would allow the internal troops to use, if necessary, military and special equipment to suppress riots
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U.S. oil company ConocoPhillips posted a sharp increase in net profit in the first quarter of 2022 thanks to rising oil prices and increased production. The figure was $5.8 billion compared to $982 million in the same period last year.
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Finnish Paulig, specializing in the production of coffee, sold the business in Russia. The private investor Vikas Soi became the buyer of shares in Paulig Rus LLC. Paulig’s Russian business, which includes a coffee roasting plant in Tver and 200 employees, will be taken over by a new owner. Trademarks and recipes are not included in the deal, its amount was not disclosed, Paulig said in a statement.
The Paulig brand will leave the Russian market within the next months. Deliveries of green coffee to the new owner of the Russian factory will continue during the transition period, which will take no more than three months.
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The European Parliament adopted on Thursday a resolution in support of granting Moldova the status of a candidate member of the European Union. According to the document, the EU and Moldova should «continue to work on integrating the country into the EU single market and expanding sectoral cooperation.»
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LinkedIn has agreed to pay $1.8 million to female employees who earned less than their male counterparts from 2015 to 2017. The pay difference was discovered by the US Department of Labor during a routine audit.
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Gucci brand stores in Los Angeles, New York, Atlanta and Las Vegas will start accepting cryptocurrency payments. Customers will be able to pay for purchases in Bitcoin, Ethereum, Litecoin, Shiba Inu, Dogecoin and other cryptocurrencies.
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Japan imposes additional sanctions against the Russian Federation. Thus, it freezes the assets of 140 individuals and expands the list of banks against which sanctions will apply. In addition, the country will ban the supply of quantum computers to Russia.
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