In September, hybrid vehicles surpassed petrol cars in EU sales for the first time, capturing 32.8% of the market. Despite a 6.1% decline in total car sales, hybrid electric vehicles saw a 12.5% increase, while petrol vehicles dropped by 17.9%. The European Automobile Manufacturers Association highlighted the need for a more robust EV market, as fully electric and plug-in hybrid sales slowed due to varying green incentives and tariffs on Chinese EVs. Volkswagen, Stellantis, and Renault face challenges from weak demand and Chinese competition, with the EU imposing import duties on Chinese-made EVs.

Foreign companies have incurred over $107 billion in losses due to their exit from Russia following its invasion of Ukraine, with losses increasing by one-third since August last year. The exit has led to a significant loss of Western expertise in Russia's economy. President Putin's re-election has led to a mandate for further isolation from the West, with Moscow demanding steep discounts on foreign asset sales and tightening exit requirements. Western nations have frozen $300 billion of Russia's reserves, and Germany has nationalized key Russian energy assets. Russia has threatened retaliation against EU proposals to redistribute interest earned on its frozen assets. Western companies, including Shell, HSBC, and Danone, have announced asset sales at substantial discounts, while others like Auchan and Benetton continue to operate in Russia. The West risks losing $288 billion in assets and investments if Russia retaliates. The exit of foreign firms has also resulted in the loss of high-tech capabilities within Russia.

Foreign companies have incurred over $107 billion in losses due to their exit from Russia following its 2022 invasion of Ukraine. The financial impact has grown significantly, with companies like Shell, HSBC, and Danone facing substantial writedowns. Russia's retaliatory measures, including asset seizures and demands for discounted sales, have further complicated exits. Western nations have frozen Russian assets, prompting threats of retaliation from Moscow. The exodus has also led to a loss of Western expertise and technology in Russia, potentially harming its economy. Despite the challenges, some companies continue to operate in Russia, citing the needs of everyday consumers.

Foreign companies have incurred over $107 billion in losses due to their exit from Russia following its 2022 invasion of Ukraine. The financial impact has grown by a third since August, reflecting the significant economic consequences of the invasion and the loss of Western expertise in Russia. Companies like Shell, HSBC, Polymetal International, and Yandex have sold assets at substantial discounts, while others like Danone have faced regulatory hurdles. Western nations have frozen Russian assets, prompting threats of retaliation from Moscow. The exodus has also led to a technological drain, potentially harming Russia's high-tech production capabilities.

Foreign companies have incurred over $107 billion in losses due to their exit from Russia following its 2022 invasion of Ukraine. The financial impact has grown by a third since last year, highlighting the significant economic consequences and the loss of Western expertise in Russia. Companies like Shell, HSBC, and Danone have faced substantial writedowns, while others like Auchan and Benetton continue to operate in Russia. Moscow's stringent exit requirements and retaliatory measures against Western sanctions have further complicated the situation. The ongoing conflict and sanctions have led to a significant exodus of meaningful technologies and expertise from Russia, potentially harming its high-tech production capabilities.

Foreign companies have incurred over $107 billion in losses due to their exit from Russia following the 2022 invasion of Ukraine, with losses increasing by one-third since August last year. The exit has led to a significant loss of Western expertise in Russia's economy. Companies like Shell, HSBC, and Danone have sold assets at steep discounts or taken substantial losses. Western nations have frozen Russian assets, and Germany has nationalized Russian energy assets. Russia threatens retaliation against EU proposals to use its frozen assets. Legal experts suggest that Western companies are unlikely to return to Russia post-conflict, indicating long-term economic damage. Restrictions on selling shares in key sectors without presidential approval remain, while some companies continue to operate in Russia, citing the reliance of Russian citizens on their products.

Italy's highest court has exonerated the late Argentine soccer icon Diego Maradona from tax evasion charges, concluding a legal dispute that spanned three decades. The court overturned a 2018 verdict that had implicated Maradona in using companies in Liechtenstein to avoid taxes on image rights income from Napoli club between 1985 and 1990. Maradona's lawyer, Angelo Pisani, proclaimed the verdict as a vindication of Maradona's legacy, highlighting the possibility for his heirs to seek damages.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Mercedes-Benz have noted challenges in the EV market, including a plateau in demand and supply-chain issues. Tesla saw a significant increase in registrations, making up nearly 22% of fully electric car registrations in the EU.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in electrified vehicles to over 47.6%. The European Automobile Manufacturers Association highlighted a 6.7% increase in new-car registrations in November, marking the 16th consecutive month of growth. Fully electric car registrations rose by 16.4%, despite a decline in Germany's EV market. Hybrid-electric vehicles saw a surge in demand, while plug-in hybrids declined. The ACEA warned that Europe's EV sector could fall behind without a robust EU industrial strategy, amid competition from China and the U.S. Car makers like Volkswagen and Renault saw registration increases, while Stellantis experienced a drop. Tesla's registrations jumped by almost 45% in November. The overall number of new vehicles registered in the EU, Britain, and the EFTA in November grew by 6%.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in electrified vehicle sales. The European Automobile Manufacturers Association reported a 47.6% share for electrified vehicles, a rise from the previous year. The growth trend continued for the 16th consecutive month, with electric vehicle registrations up by 13.3%. Hybrid-electric vehicles saw the highest demand, while plug-in hybrids declined. Despite the growth, concerns about the European EV sector's competitiveness were raised, citing China's supply chain dominance and U.S. incentives. Car makers like Volkswagen and Mercedes-Benz noted a demand plateau and market challenges. Tesla experienced a 45% jump in registrations in November, while Stellantis saw a 7.3% drop.