Nestle suspends brands in Russia, ING Group ends new financing

Nestlé said on Wednesday it will halt the sale of several non-essential products including KitKat candy bars and Nesquik chocolate mix in Russia, in an unprecedented move amid pressure on the world’s top consumer goods company after criticism from Ukrainian President Volodymyr Zelenskyy.

Nestle shares were down 1.3 per cent at 1236 GMT,after hitting a session low shortly after the news.

ING Grop NV said it will no longer finance new oil and gas projects, its energy chief said, becoming the biggest bank yet to commit to such a step in the fight against climate change.

The move by the Dutch financial services firm raises pressure on peers to heed a call by the International Energy Agency (IEA) for a halt to funding for new fossil fuel projects to help cap global warming at no more than 1.5 degrees Celsius.