McDonald’s is to permanently quit Russia over the Ukraine war, the company has revealed today.
Citing the ongoing ‘humanitarian crisis’ caused in the region by the conflict, McDonald’s has now said that it will be selling off all of its restaurants in the country and ‘de-Arching’ the new owners to remove all and any remaining brand ties.
Whilst many companies have announced temporary sanctions on Russia. this move by McDonald’s makes it one of just a handful of global brands to permanently pull out of the country in protest of the war.
When bosses initially shut down operations on 8 March following the initial invasion, the measures were only intended to be temporary.
Now, the company has said its position in Russia is ‘no longer tenable, nor is it consistent with McDonald’s values’.
In spite of this, it has emerged that McDonald’s still plans to look after its 62,000 Russian staff and has promised that they will continue to have jobs with the stores’ new owners as part of any future deal.
The company has also pledged to keep paying its Russian staff until new agreements are signed.
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CEO Chris Kempzcinski said that the Russian staff’s dedication and loyalty to McDonald’s ‘make today’s announcement extremely difficult’, adding that he was ‘exceptionally proud’ of them.
‘However, we have a commitment to our global community and must remain steadfast in our values.
‘And our commitment to our values means that we can no longer keep the Arches shining there.’
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By writing off all of its assets in Russia, the company will instantly lose £1.2 billion, it said in a statement, adding that it expects ‘significant losses’ as it also has to sell all of its assets in roubles.
In a private document obtained by The New York Times, Mr Kempzcinski admitted the move would have ‘profound consequences’ on employees, franchises and suppliers.
He said: “Some might argue that providing access to food and continuing to employ tens of thousands of ordinary citizens is surely the right thing to do.
“But it is impossible to ignore the humanitarian crisis caused by the war in Ukraine.
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“And it is impossible to imagine the Golden Arches representing the same hope and promise that led us to enter the Russian market 32 years ago.”
He reportedly added: “In the history of McDonald’s, it was one of our proudest and most exciting milestones.
“After nearly half a century of Cold War animosity, the image of the Golden Arches shining above Pushkin Square heralded for many, on both sides of the Iron Curtain, the beginning of a new era.”
King Charles III’s annual income to increase by more than 50% as crown estate revenue rises
Danny Jones
King Charles III’s annual income is reportedly set to increase by more than 50% after the total revenue of the official crown estate rose significantly over the last 12 months.
Posting record-breaking profits since King Charles was coronated back in May, raking in a total of £1.1 billion for the 2023/24 financial year, the crown’s budget is now being adjusted, with a review set for 2026/27.
As per the official royal accounts published this week, the sovereign grant which helps fund members of the royal family and their civic duties is set to rise from £86m this year to £132m in 2025/26, meaning the King is set for a whopping £45m (approx. 53%) pay rise.
The royals currently receive 12% of the crown estate’s overall profits and as the majority of Britain continues to struggle with a cost of living crisis, it’s also the details surrounding last year’s outgoings and overall expenditure that have proved tough reading for many.
It makes no sense that profits from renewable energy projects are funnelled out of poor coastal communities to fund the refurbishment of Buckingham Palace.
Wealth from our natural resources should be invested in our people and communities. https://t.co/D4ZzzFiffk
In addition to roughly £600,000 of the sovereign grant being spent on the King’s coronation and other related events last year, the monarchy’s accounts also revised the £369m set aside for renovations in and around Buckingham Palace, let alone other royal residences.
According to The Guardian, “Royal accounts also show that the Prince of Wales received £23.6m income from the Duchy of Cornwall in his first full year after inheriting the land and property-owning estate from his father.”
Frogmore Cottage, located on the Windsor estate, saw a £2.4m refurbishment on behalf of the Duke and Duchess of Sussex as well but has remained empty for more than a year – though the costs have reportedly since been returned to the public purse.
Perhaps one of the toughest/most frivolous to swallow for the taxpayer, though, is the revelation regarding the two new helicopters. Set to replace the existing aircraft used by the royals for the last 15 years, the two new AgustaWestland AW139s are said to cost £8m a pop.
Making 170 journeys last year and costing a total of £1,096,300, the monarchy’s travel bill rose from £3.9m to £4.2m all-told, with the official royal train remaining the most expensive per mile.
Elsewhere, in the King’s Speech (written for him) following Labour’s landslide updating of the Conservative Party after 14 years, Charles said: “Stability will be the cornerstone of my Government’s economic policy and every decision will be consistent with its fiscal rules…
“Securing economic growth will be a fundamental mission. My Government will seek a new partnership with both business and working people and help the country move on from the recent cost of living challenges by prioritising wealth creation for all communities.”
While the crown and government have reiterated the aim of “rising living standards”, many Brits will understandably struggle to take these words as sincerely as others, with urgent action needed to support some of the poorest regions across the nation.
Ex-Salford rugby player and Andy’s Man Club co-founder receives special honour from University of Bradford
Danny Jones
Ex-Salford rugby player, motivational speaker and health coach Luke Ambler has been given a special honour for his work with the men’s mental health organisation, Andy’s Man Club.
The former rugby league athlete and Ireland international – whose career started out at Salford City Reds before moving on to Leeds Rhinos, York, Harlequins and Halifax – set up Andy’s Man Club in 2016 after the loss of his brother to suicide, with the vital support group and charity growing massively since then.
Now hosting more than 4,500 men at over 190 different regional support groups across the country every week, including several here in Greater Manchester – one over at Etihad being the most recent – the non-profit has become a vital resource for men in the UK and only keeps spreading further.
To share this day with my beautiful family, mother in law and Sabrina our General Manager and all those who were graduating was a pleasure and a day I’ll remember for years to come.
As reported by The Hoot, Ambler received an outstanding contribution award from Bradford Uni on Tuesday, 16 July, being presented with the accolade during their ongoing summer graduation.
In typically humble fashion, he dedicated the honour to everyone but himself: “To all my team; my parents, my kids, my family, friends, staff and volunteers thank you – none of us do it alone.
“Thank you also to all of you who have supported us and continue to do so thank you.”
Speaking to the BBC, he went on to add: “It’s amazing to look back on how far it has come… I don’t want to put a limit on it – we really want to help more men and find out why people get into such dark places.”
Male mental health continues to be a hugely overlooked and pressing issue and the impact of organisations like Luke’s cannot be overstated, having not only provided an all-important outlet but also raised huge funds and awareness for the cause.
Meeting every Monday at 7pm, Andy’s Man Club is all about creating a safe space for men to open up about the storms affecting their lives in a safe, judgement-free and non-clinical environment. You can find your nearest location HERE.
Well done from all of us at The Manc Group, Luke. You can watch the presentation and his acceptance speech in full down below.
#ITSOKAYTOTALK
What a lovely way to honour the Andy’s Man Club co-creator.