Yandex N.V. (YNDX)
- Reuters
Yandex sells news, content recommendation services to Russia's VK
Yandex, one of Europe's largest internet businesses, registered in the Netherlands, and Russian internet portal VK said they had come to an agreement in principle on the deal, and that they would announce details in due course. The deal is subject to approval by Russia's anti-monopoly watchdog, Yandex said.
- Bloomberg
Russia’s Major Tech Firm Swings to Quarterly Loss on Staff Costs
(Bloomberg) -- Russia’s biggest technology company reported a net loss in the first quarter as spending on staff soared in March after the invasion of Ukraine. Most Read from BloombergBiggest Treasury Buyer Outside U.S. Quietly Selling BillionsEnd of Easy Money Brings a $410 Billion Global Financial ShockCiti’s London Trading Desk Behind European ‘Flash Crash’Dip Buyers Save the Day as Stocks Finish Higher: Markets WrapUkraine Latest: Pentagon Sees Poor Russian Morale, Bad LogisticsYandex NV’s a
- Reuters
Russia's Yandex plunges to Q1 loss, may look at new listing
It blamed the adjusted net loss of 8.1 billion roubles ($110 million) on spending prior to Feb. 24, but said "geopolitical developments" had hit some of its operations since. Western nations have heaped unprecedented sanctions on Russia, although Yandex itself has not been targeted. "We experienced continued stable operations and strong growth across most of our businesses through Feb. 23, 2022," the company said in a statement.
