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This collection of articles explores the fallout of the war in Ukraine on Western companies operating in Russia
...They previously had unlimited liability for risks, which led to huge financial losses after a surge of asbestos claims in the 1990s....
...Goldman Sachs has moved its top investment banker for European financial companies from London to Paris, as the Wall Street bank finalises its post-Brexit relocation plans....
...The sale price “reflects a mandatory discount of at least 50 per cent” to “fair value” under Russian government rules on exits for western companies, Yandex’s parent company said....
...The letter says that: “Manufacturers and users of PFAS chemicals are exposed to deep liability and insurance risks, reminiscent of those historically linked to asbestos.”...
...The lawsuits have drawn comparisons with past “toxic torts” regarding substances such as asbestos and tobacco, rattling investors and insurers....
...A string of western companies have sought to offload their Russian arms since the country’s invasion of Ukraine last year and amid the subsequent sanctions imposed by the US and EU....
...This state-by-state strategy had previously been attempted by tobacco and asbestos companies when facing a wave of lawsuits, said Daniel Hinkle, senior state affairs counsel for the American Association...
...Sometimes the culprit is a worksite occupier rather than an employer but, typically, a case for an asbestos illness is handled by an insurance company....
...The move highlights some of the fallout western companies are feeling from the punitive measures against Moscow....
...“Manufacturers and users of PFAS chemicals are exposed to deep liability and insurance risks, reminiscent of those historically linked to asbestos,” the letter states....
...Mirroring most officials and state company leaders, he has remained in his job, citing his obligation to Sberbank’s customers and refuting allegations of the bank’s involvement in supporting Russia’s war...
...While these are staggering sums, there are debates whether PFAS litigation will reach the same degree as severity as the asbestos issues of years past and whether insurers should begin reserving for this...
...The new provision, which will enter into force in June, will give European regulators their most detailed overview of western businesses’ current dealings in Russia to date....
...The rise of Turkish aviation stands in sharp contrast to the picture in western Europe, where parts of the industry are in retreat....
...An additional issue is that some pipes are made of asbestos and lead, which should be replaced....
The antiquated system of setting prices is frustrating for merchants and their customers
...DAZN also claims that the DFL failed to give the company time to provide a requested bank guarantee....
...The widely reported corporate exodus of major western brands in the immediate aftermath of the full-scale invasion was quickly replaced by the “stay and wait” approach of over 2,000 international companies...
...Two years into the war, those western companies still clinging on to their Russian assets have been counting on war fatigue in their home markets to ride out the initial wave of public outrage....
...US lawmakers had scrutinised G42’s links to Chinese companies, over concern that the company could provide a route for US AI technology and Americans’ genetic data to reach the Chinese government and companies...
...The role of the state in China is difficult to easily map on to transparently-codified norms in western economies....
...“They don’t have the myopic short-termism of western capitalism.”...
...Western pharma groups are seeking to diversify production for the US market away from Chinese contract manufacturers, in response to draft US legislation that would prevent some Chinese companies from receiving...
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