Today's business and finance round up 17th May 2022
Made.com shares plunge as furniture demand weakens
17th May 2022
Bite-sized business news from the UK and beyond
Good morning 32 years after opening its first branch in Moscow, McDonald’s is bowing out of Russia. The fast-food giant temporarily shut down more than 800 restaurants, which employ 62,000 people, in March following the invasion of Ukraine but will now sell its Russia business. McDonald’s could take up to a $1.4bn hit from the sale.
Today's stories
- Un-made – Made.com shares plunge as furniture demand weakens
- Emptying breadbasket – India pulls the plug on wheat exports
ONLINE
Made.com shares plunge as furniture demand weakens
Other stories to keep you in the loop
- Bank of England governor warns of 'apocalyptic' food prices as he defends inflation policy
- Energy price cap adjustments could be every three months under Ofgem reform plan
- Elon Musk responds with poop emoji after Twitter boss hits back over fake account concerns
- Chelsea takeover: Ministers fear sale of club could 'fall apart'
- Greggs sales lag in cities amid shift to working from home
- National Express refuses to budge on Stagecoach takeover offer
- Jeff Bezos accuses Biden of 'misdirection' over inflation
- Walmart targets university grads with $210k store manager roles
TRADE
India pulls the plug on wheat exports
Stat of the day
New figures show that 23% of Brits would rather quit or find a new job than return to the office five days a week – the highest of any other country
Interesting links from around the web
- Why Beyonce is recession-proof, according to Goldman Sachs
- Why some countries have lower energy bills than the UK
- The rise of the Chief Happiness Officer
