FT News Briefing Putin Moves Into Ukraine
Feb 22, 2022
Russia's troop movements in Ukraine sparking geopolitical tension and potential sanctions could disrupt the energy sector, impacting gas prices for consumers. Meanwhile, Peloton faces backlash for concealing rust issues on bikes amid soaring pandemic demand and delivery delays, raising ethical questions about corporate practices. The discussion also touches on Carl Icahn's board fight at McDonald's regarding pig treatment, revealing the intricate web of corporate responsibility amid global crises.
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Peloton's Rusty Bikes
- In September 2021, Peloton discovered rust on some exercise bikes.
- They concealed the rust and shipped the bikes without informing customers, calling it "Project Tinman."
Sanctions' Impact on Energy Companies
- Sanctions against Russia for invading Ukraine could impact major oil and commodity trading companies.
- These companies could face restrictions due to their extensive involvement in Russia's energy sector.
Icahn vs. McDonald's
- Carl Icahn is pressuring McDonald's to eliminate gestation crates for pregnant pigs from its supply chain.
- McDonald's aims for full compliance by 2024 but claims Icahn's demand for immediate action is infeasible.