The French media La Lettre reported that Auchan, one the few French chains operating in Russia still, is in final talks to sell its Russian affiliate to a local buyer.
In March 2022 Auchan CEO Yves Claude said to the outlet Journal du Dimanche, that the company would remain in Russia despite accusations it had funded the war. He cited the need to retain employees and continue “feeding both the populations of Ukraine and Russia.”
According to reports, at the beginning of the full-scale attack, Russia accounted for 10% in Auchan’s worldwide sales. Claude noted that 30,000 employees, including 40% of shareholders and employees, could lose their job if the company left the market.
The sale of Auchan by Mulliez, the holding company, is expected to be completed in the next few weeks. The buyer is not yet known. Auchan will need to get approval from Russian commissions.
According to La Lettre citing RBC Russian, Auchan is eager to sell, as Russia’s “exit taxes” have increased from 10% to 15 %, with a potential of reaching 35%.
Selling the assets alone would only bring in less than 200 million euros ($216 million), however, selling 94 hypermarkets, 138 supermarkets including the buildings could increase the value.
Auchan, with 43 stores in Ukraine remains active in the nation.
Auchan Retail’s performance was 2% lower due to the sales decline of 4.2% in Russia and Ukraine. Without these countries, the growth would have been only 4%. The company reported a net loss for the year of 378 million euros ($408 millions).
French media Le Figaro reported on the struggles of Auchan over the last 2.5 years, due to fierce competition from Russian oligarch owned distributors.
Officials from the administration of U.S. president Joe Biden raised the possibility that these sanctions could be imposed during a G7 meeting of deputy finance ministers on October 22 in Washington D.C.
The bill to end daylight saving time was passed by the Ukrainian Parliament on July 16. The Ukrainians will set their clocks one hour back for the last time in October 2024. They will not return to summer time next year.
The French media La Lettre reported that Auchan, one the few French chains operating in Russia still, is in final talks to sell its Russian affiliate to a local buyer.
South Korean law prohibits exporting weapons to active conflict areas, but Seoul has hinted repeatedly that this could be changed in light of the deepening military co-operation between Russia and North Korea.
An RSF source told Reuters that the aircraft was an Il-74 transport jet used to deliver weapons, ammunition, and supplies to the city Al Fashir, Sudan, where the Sudanese Army is trying to repel RSF attacks.
Eight women and three males were injured. Oleh Simiehubov, the governor of the region, said that a 73-year old woman died from severe injuries.
The General Staff announced on October 24 that Ukrainian military, lawmakers and experts discussed creating a separate branch within Ukraine’s Armed Forces to be dedicated to cyberspace activities.
Lin Jian, a spokesperson for the Beijing Foreign Ministry, made the statement in spite of the fact that the U.S.A., Seoul and Kyiv have all confirmed their presence over the past few days.
Michael R. Turner is a long-serving Republican Party member and his comments are by far the strongest from any U.S. politician.
The Air Force reported that Ukrainian forces shot down 40 of 50 Shahed drones and unidentified drones that Russia launched overnight. The Air Force reported that seven more drones had been “lost” and two others were flying toward Russia and Belarus.
During the full-scale invasion of Ukraine, there have been numerous reports of Russian soldiers executing Ukrainian POWs. However, they have increased dramatically in the last year.
Alexander Lukashenko, the Belarusian dictator, said in an interview to BBC that he knew Putin’s character and that he would never try to convince another country to send its army to… Ukraine.
Politico reported that anonymous officials said that Belgium, Slovenia, Spain, and other countries are reluctant to invite Ukraine to join NATO.
John Kirby, the spokesperson for the U.S. National Security Council, also revealed details about U.S. intelligence assessment. Washington believes that North Korea “moved a minimum of 3000 soldiers into Eastern Russia.”
This includes 1,240 casualties that Russian forces have suffered in the last day.
On Oct. 21, the Basmanny district of Moscow sentenced Ukrainian filmmaker Alexander Rodnyansky to 8 and half years in absence for “spreading false information” about Russian Army.
German magazine Wirtschaftswoche reported that German Finance Minister Christian Lindner proposed a reevaluation of the legal status for Ukrainian refugees.
“Kremniy EL”, one of the largest microelectronics factories in Russia, produces components that are widely used in Russian defence production. These include Pantsir air-defense systems and Iskander rocket systems.
Yevhen Perebyinis, Deputy Foreign Ministry, wrote to cabinet ministers in a letter dated Oct. 23, warning that the European Union had informed Ukraine that the next tranche (4 billion euros) of the EU‘s Ukraine Facility could be delayed until the following year if the expected aspects of the corruption reforms were not completed by the end this month.
Ukrainska Pravda, citing the Ukrainian Defense Ministry, reported on October 23 that Roman Hladkyi was dismissed just months after he was appointed to his controversial position in August 2024.
Belarus’ Central Electoral Commission, which announced the date on October 23, has set its next presidential elections for January 26, 2025. The incumbent Belarusian dictator Alexander Lukashenko, who is currently in power, is widely expected to remain in power following the results of the election.
Daleep Singh is the White House’s deputy national security advisor for international economics. He said that Joe Biden intends to divide the funds between helping Ukraine’s economy and its military.
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