Quartz

McDonald’s is getting out of Russia for good. The fast-food giant will sell its outlets to a local buyer in a move that underscores how Russia’s Ukraine invasion is hurting its own economy.

Shanghai’s total lockdown will end on June 1. City officials announced a phased reopening plan as the economic costs of China’s zero-covid policy mount.

Vladimir Putin said NATO’s expansion is “no direct threat for Russia.” But he warned that Russia would react if the military alliance tried to send troops or weapons to Finland and Sweden.

JetBlue is attempting a hostile takeover of Spirit Airlines. JetBlue urged Spirit shareholders to reject the airline’s planned deal with Frontier in favor of an all-cash offer of $30 a share.

Sri Lanka’s new prime minister said the nation has only a day’s supply of petrol. The country is also dangerously low on stocks of 14 essential medicines.