McDonald's to sell Russia business, exit country

The American burger giant, McDonald's confirmed on Monday that it is selling its 850 restaurants in Russia. McDonald's said it will seek a buyer who will employ its 62,000 workers in Russia, and will continue to pay those workers until the deal closes. It's the first time the company has ever "de-arched," or exited a major market. Late last month, the company said it was losing 55 million USD each month due to the restaurant closures. It also lost 100 million USD worth of inventory. McDonald's has also closed 108 restaurants in Ukraine and continues to pay its employees there.