MasterCard losses, music services no releases, Kraft Heinz downsizing: breaking news on July 29

World

• The H&M retail chain plans to resume work in Belarus in August. Information about this appeared on the company’s page on the VKontakte social network on July 28.

Russia

• The Ministry of Digital Development, the Ministry of Finance and the Ministry of Industry and Commerce must raise funds before August 1 to create a full-cycle platform for preform production. Without such a cable, it will be possible to put an end to the development and modernization of fixed and cellular communication networks: it is impossible to provide an acceptable data transfer rate in LTE networks, and in the future to build 5G networks, says Leonid Konik, Comnews research partner.

Business

• MasterCard lost $26 million in the second quarter due to its withdrawal from Russia. The total loss from the departure in March amounted to about $30 million, by the end of the year the loss could amount to $37 million.
• Distributor ONErpm removes releases from Russian streaming platforms from musicians whose accounts are not registered in the Russian Federation, Belarus, and Kazakhstan. The changes will affect Yandex Music, Sound and VK Music.
• The owner of Johnnie Walker and Smirnoff estimated losses from leaving Russia at 146 million pounds. Britain’s Diageo, which owns alcohol brands, announced its withdrawal from the Russian market at the end of June.
• Rusprodsoyuz denied information about the sale of Kraft Heinz assets for the production of baby food in Russia. Production facilities continue to operate as usual and deliver products to customers, they said.
• In Russia, there are not enough spare parts for Asus, Acer, HP, Huawei, Lenovo and Apple laptops. This is what they tell customers in the authorized service centers (ASC) of these companies. Repairs can take up to six weeks.
• A Mango store has been opened in Moscow’s Atrium shopping center after a long period of inactivity.
• The total cost of Renault due to the withdrawal from Russia in the first half of 2022 amounted to 2.3 billion euros.
• DHL Express will stop delivering products within Russia from September 1. The company will continue to provide services for the delivery of documents and goods abroad from Russia.

Transportation

• The Russian air transport market, after falling in the spring, stabilized in June and will soon grow, according to a review by the State Transport Leasing Company.