Swiss Mining Firm Pleads Guilty to Market Manipulation

Fourth EstateGlencore Head Office | Glencore

Swiss-owned mining corporation Glencore pleaded guilty to charges of foreign bribery and market manipulation schemes. International A.G. Glencore and Glencore Ltd., both part of a multinational commodity trading and mining firm headquartered in Switzerland, pleaded guilty to violations of the …

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Russian McDonalds Arm to Rebrand

Fourth EstateRussian McDonald's | Sandra Cohen-Rose and Colin Rose

McDonald’s will sell its restaurants in Russia to businessman Alexander Govor and rebrand under a new name in June. McDonald’s will keep its 850 chains of restaurants, jobs, connections with most suppliers, and menus. Govor has been a McDonald’s licensee …

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Netflix Eliminates 150 US-Based Jobs After Suffering Losses

Fourth EstateNetflix Logo on screen

Streaming giant Netflix confirmed that the company laid off approximately 150 employees after losing subscribers for the first time in a decade. The employee cuts largely affected its office in California which makes up around 2% of the company’s North …

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Renault to Liquidate Business in Russia Including Lada Stake

Fourth EstateRenault logo on the company's Moscow Russia plant

Renault announced that it is liquidating its business in Russia including its shares in Lada. “The Board of Directors of Renault Group unanimously approved the signing of agreements to sell 100% of Renault Group’s shares in Renault Russia to Moscow …

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Saudi Aramco Overtakes Apple as Most Valuable Company

Fourth EstateSaudi Aramco signage

Saudi Aramco, officially known as the Saudi Arabian Oil Company, has overtaken Apple as the world’s most valuable company. Aramco’s recent report confirmed a total of $39.5 billion profit from January to March of 2022, an 82% jump from last …

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McDonald’s To Sell Businesses in Russia

Fourth EstateMcDonalds restaurant in Russia - Dirk Franke

McDonald’s has started selling its business in Russia after 30 years of operation and became the latest global brand to permanently pullout of the country in response to the invasion of Ukraine McDonald’s has already closed its 850 restaurants in …

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Siemens Leaves Russia After Almost 170 Years in Operation

Fourth EstateSiemens Headquarters, Russia - Courtesy Siemens

The German Industrial Giant Siemens announced Thursday that it would exit the country after almost 170 years of operation. “We condemn the war in Ukraine and have decided to carry out an orderly process to wind down our industrial business …

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Intel Launches New AI Chips to Challenge Nvidia

Fourth EstateIntel Processor - Alan Lorenzo

Intel on Tuesday launched a new chip for artificial intelligence computing as part of a bigger push into the AI chip market currently dominated by Nvidia. Intel introduced the second-generation processor Gaudi2 made by Habana Labs, an Israeli AI chip …

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