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Kellogg's latest USA brand to close door on Venezuela

Kellogg's latest USA brand to close door on Venezuela

Zeus Exchange, which Druzhkov created alongside a Kremlin-connected industrialist, said in a statement that it has never had any business ties with the Venezuelan government and that Druzhkov resigned after abusing his authority.

In what comedian John Oliver warned viewers was "not one of those feel-good "Last Week Tonight" pieces", the satirist on Sunday took aim at Venezuelan president Nicolás Maduro's mismanagement of his country and American conservative media for portraying the distress there as "the dire consequences of a socialist government".

Millions in Venezuela have been suffering food and medicine shortages amid hyperinflation, with, as Reuters reports, Maduro "blaming the crisis on an "economic war" that he says is being waged by Washington, greedy businessmen and coup-mongers".

"I've taken the decision to deliver the company to the workers in order that they can continue producing for the people". Others, including Clorox (CLX.N), Kimberly-Clark (KMB.N), General Mills (GIS.N), General Motors (GM.N) and Harvest Natural Resources HNR.N, have given up on the OPEC country, abandoning assets or selling them cheap. "We are four days away from elections and they think it will spook the people", he said at a campaign rally.

Maduro is blaming everyone for his mess, mostly the US, but "accusing America of creating Venezuela's crisis is about as fair as accusing O.J. Simpson of murdering Princess Diana - I'm not saying it would be completely out of character, it just happens to not be true in this particular instance", Oliver said.

Maduro's government, Oliver said, is "telling Venezuelans that humanitarian aid is part of a conspiracy to overthrow his government".

According to Euromonitor, Alimentos Kellogg dominated the breakfast cereals sector in Venezuela a year ago with a 50% retail value share. Kellogg produced dozens of cereals and other products from the plant. Kellogg's breakfast products are the most popular and widely available in the country.

Stunned workers were barred from entering Kellogg's plant in the central city of Maracay and massed outside, seeking information, local business sources said.

Each evening at 1830 UTC, DW's editors send out a selection of the day's hard news and quality feature journalism.

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