Yandex N.V. YNDX, often described as “Russia’s Google,” sought Vladimir Putin’s permission to sell its operations in the country, spin off its main international projects and appoint a longtime confidant of the Russian president to manage its relationship with the Kremlin. Yandex informally enlisted top economic official Alexei Kudrin to win the Russian president’s approval, in principle, for the restructuring plan, Financial Times reports. The changes would lead to… Source link

Russian internet giant Yandex’s Dutch holding company on Friday said it planned to divest ownership and control of most of Yandex Group, with the international divisions of some services to be developed outside Russia. Yandex NV said it had started a “strategic process to review options to restructure the group’s ownership and governance in light of the current geopolitical environment“. “As part of the intended restructuring of the group, the board anticipates that Yandex NV will in due… Source link

Amazon (AMZN) is betting big on the theatrical experience. The tech giant plans to invest $1 billion to produce 12 to 15 movies a year exclusively for theaters, according to a new report from Bloomberg. That spending would be roughly on par with major film studios like Paramount Pictures (PARA), Bloomberg noted. The report sent shares of theatrical giants like AMC (AMC) and Cinemark (CNK) higher on Wednesday, gaining 4.4% and 12.5%, respectively. Amazon did not immediately respond to Yahoo… Source link

Stocks opened mixed on a shortened day of trading on Black Friday. Near 9:35 a.m. ET, the S&P 500 was down less than 0.1%, the Dow was up 0.2%, and the Nasdaq was off by about 0.5%. The U.S. stock market will close at 1:00 p.m. ET on Friday; financial markets in the U.S. were closed on Thursday for Thanksgiving. Stocks finished with gains on Wednesday, the week’s final full trading session, after the minutes from the Fed’s latest meeting signaled a likely slowdown in the pace of rate hikes at… Source link

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Nov 25 (Reuters) – Russian internet giant Yandex’s (YNDX.O) Dutch holding company on Friday said it planned to divest ownership and control of most of Yandex Group, with the international divisions of some services to be developed outside Russia. Yandex N.V. said it had started a “strategic process to review options to restructure the group’s ownership and governance in light… Source link

Russian President Vladimir Putin has one message that he likes to convey in his public speeches: that he is very much a man of the people, with the blood of simple Russian folk running through his veins. His idea of the people, however, has changed more than once during his lengthy reign and is changing once again right now. The people he chooses to meet in public and his own behavior show that for the president, the Russian people are currently embodied by… Source link

Natalya Maisheva/iStock Editorial via Getty Images The parent firm of Russian technology company Yandex (NASDAQ:YNDX) said on Friday that it would look to restructure the group’s ownership and governance, citing the “current geopolitical environment” amid the country’s war with Ukraine. In a statement, Yandex N.V. (YNDX) said that a special committee had been tasked with exploring a wide range of potential scenarios, including developing international divisions of certain services, such… Source link

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Nov 25 (Reuters) – Russian President Vladimir Putin and former Finance Minister Alexei Kudrin touched on the future of internet giant Yandex (YNDX.O) in a late night meeting, three people familiar with the matter told Reuters on Friday. Sources told Reuters that Kudrin, one of the country’s top economic officials and a long-time colleague of the president, is expected to leave… Source link

MOSCOW (Reuters) – Russian President Vladimir Putin and former Finance Minister Alexei Kudrin touched on the future of internet giant Yandex in a late night meeting, three people familiar with the matter told Reuters on Friday. Sources told Reuters that Kudrin, one of the country’s top economic officials and a long-time colleague of the president, is expected to leave his role as head of Russia’s Audit Chamber to take up a position with Yandex. The future of the company, which dominates… Source link

Over the past years, Russian search and tech giant Yandex made an effort not to fall behind its Western counterparts and had developed its own smart devices, self-driving cars, as well as its own food delivery and ride-sharing services, among other products. According to The New York Times, though, the West’s sanctions against its home country after the invasion of Ukraine has made it impossible to continue developing and improving its projects. That’s why Yandex’s parent firm, which is… Source link