US Xerox sells Russian operations to local management

Explore stories from Atlantic Canada.

Matt Dusk sings Sinatra in Halifax/PEI/Moncton | SaltWire - Printer maker Xerox Holdings on Wednesday said it had sold its operations in Russia to local management for an undisclosed sum, becoming the latest Western business to cut ties with Russia over its February 2022 invasion of Ukraine.

Russia has steadily tightened exit requirements, now demanding a 50% discount on any sale and a contribution to the Russian budget of at least 10% of the sale price, dubbed an"exit tax" by Washington. Executives say navigating the rules is becoming harder. "Xerox is now exiting its remaining operations in Russia and divesting the business to local management through the sale of its Russian subsidiary."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SaltWire Network /  🏆 45. in CA

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vancouver weather: Rainy Thanksgiving MondayExplore stories from Atlantic Canada.
Read more »

Police seeking information after man hospitalized in south end shootingExplore stories from Atlantic Canada.
Read more »

Taiwan needs to work hard to 'control own destiny', president to sayExplore stories from Atlantic Canada.
Read more »

Nigerian police officer sentenced to death for shooting lawyer deadExplore stories from Atlantic Canada.
Read more »

US House Republicans plot next moves on leader, McCarthy says he would go backExplore stories from Atlantic Canada.
Read more »

UK foreign minister: Nobody wants Israeli-Palestinian conflict to spreadExplore stories from Atlantic Canada.
Read more »