Gift Opening
$200 Off MarketBeat All Access
Thanks for being one of our best subscribers! You are eligible for a limited-time discount.
  •  days
  •  Hours
  •  Minutes
  •  Seconds
Claim Your Discount
×
Free Trial

A huge fire engulfs a warehouse in Russia outside the city of St Petersburg

In this photo released by Russian Emergency Ministry Press Service on Saturday, Jan. 13, 2024, Russian Emergency Situations Ministry firefighters work at the side of the warehouse in St. Petersburg, Russia. Russian authorities say that a huge fire tore through a large warehouse used by Russia's largest online retailer south of St. Petersburg. Russia's Emergency Situations Ministry said the fire covered an area of 70,000 square meters with 50,000 square meters of the warehouse collapsing. No casualties were reported. (Russian Emergency Ministry Press Service via AP)

MOSCOW (AP) — A huge fire tore through a large warehouse used by Russia’s largest online retailer south of St. Petersburg on Saturday morning.

The blaze covered an area of 70,000 square meters (more than 750,000 square feet), with 50,000 square meters (around 540,000 square feet) of the Wildberries warehouse collapsing, according to Russia’s Emergency Situations Ministry. No casualties were reported.

Videos posted to social media appeared to show employees running down fire escapes and fleeing the scene. A video shot from a passenger jet flying nearby showed flames totally engulfing the warehouse, sending huge plumes of smoke into the sky. The Associated Press couldn't immediately verify the authenticity of the videos.

Russia’s Emergency Situations Ministry said that firefighters had been able to prevent the fire from spreading across the entire area of ​​the warehouse complex and to an electrical substation. It said that, according to preliminary data, the cause of the fire was faulty electrical wiring.

Russian officials, cited by state news agency TASS, said Wildberries had obtained permission to construct the warehouse, but not to operate it. TASS also reported that the fire alarms were turned off at the time of the fire, as there had been numerous false alarms. Wildberries, in turn, said that it was fully compliant with local regulations and safety requirements.

→ Sell NVDA Now? (From Chaikin Analytics) (Ad)

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

The Best High-Yield Dividend Stocks for 2024 Cover

Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Fed Walking a Tightrope with Rate Cuts
Is Palantir Heading for a $50 Price Target?
Rate Cuts Fuel Volatility: How Long Could it Last?

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines