Forget, they have been going up and up forget, they have been going up and upfor forget, they have been going up and up for days it would seem. We will talk you through the winners and the losers. Well meet the man who bought a failing factory and turned into a thriving Business Feeding Babies around the world. Plus a new device has been launched to muzzle noisy phone calls in the office. What most distracts you at work . It is called a hushmie and it cant be used by presenters im told in the last few hours weve heard President Obamas Farewell Speech with just over a week left in charge of the worlds biggest economy. Today his successor donald trump will give a long awaited Press Conference, his first since winning the white house in november. There are still questions about how he will separate himself from his vast Business Interests. In his latest disclosure the President Elect revealed interests in 144 companies. These have had dealings in least 25 countries in asia, europe, africa
CSOs urge govt to halt Shell s divestment plan - The Nation Newspaper
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for bills and businesses with winter coming down the pipeline. well, one company right at the heart of the issue is fortum. it s one of the biggest power suppliers across the nordics, and it operates on the doorstep of both russia and western europe and, as so happens, its energy is green. markus rauramo, a real pleasure having you on the show. and markus, let s start with this, because before the war, you had operations in russia that were valued at around $2 billion then russia invaded ukraine. markus, what happened to your operations in russia after that invasion? immediately when russia started its attack, war in ukraine, we took the decision that we will not finance our russian operations any more, we will not take any new investment decisions. quite soon after that, we came to the conclusion that we have no other alternative than to exit russia. so we started a divestment process which is still going on. a couple of months back, actually, russia took over administrative con
than to exit russia. so, we started a divestment process, which is still going on. a couple of months back, actually, russia took over administrative control of our operations in russia, changed the ceo. and today, we have no access to information from the company, and we have no access to the cash flows. we don t get loan repayments from russia. and what happened after that is that we have written down, actually, our assets values in russia down to zero, and we have de consolidated the business. so from our point of view, that chapter is now behind us, and what we are doing today is we have started the processes under international investment protection treaties to claim our money back, and we continue the sales efforts as we still are the legal title holder to these assets. but we have no access to information or cash. and markus, we re talking about $2 billion can you ever get that money back? we actually invested even more
so we started a divestment process which is still going on. a couple of months back, actually, russia took over administrative control of our operations in russia, changed the ceo. and today, we have no access to information from the company, and we have no access to the cash flows. we don t get loan repayments from russia. and what happened after that is that we have written down, actually, our assets values in russia down to zero, and we have de consolidated the business. so from our point of view, that chapter is now behind us, and what we are doing today is we have started the processes under international investment protection treaties to claim our money back, and we continue the sales efforts as we still are the legal title holder to these assets. but we have no access to information or cash. and markus, we re talking about $2 billion can you ever get that money back? we actually invested even more than that over time.
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