The consequences of sanctions hit the automotive business - sales of passenger cars in Russia collapsed compared to last year

83.5% fewer cars were sold, according to the Association of European Businesses. According to their own data, 24.3 thousand cars were sold in the country. Since the beginning of the year, sales have exceeded 318 thousand cars, which is 52% lower than the same period last year.

Because of the sanctions in Russia, imports of car parts and cars themselves have dwindled. In addition, a number of companies announced their withdrawal from the Russian market, and some, like Renault, closed their assembly shops and production facilities in the country.

2008 allowed US to pump huge new government money into fracking, without 2008 and investments being actually direct and free it won't be possible due to profits issues.

Apple is said to be testing “at least nine new Macs with four different M2-based chips” including MacBook Air, Mac Mini, and MacBook Pro models as well as a Mac Pro desktop with an M2 Ultra chip.

We'll see later in the year if Apple will manage to get enough M2 chips.

Turkey's annual inflation rate jumped to a 24-year high of 73.5% in May, lower than expected but driven by the aftermath of the conflict in Ukraine, rising energy prices and the depreciation of the lira since the December crisis, according to data released on Friday.

Transportation and food costs are up 108% and 92% respectively from last year, reflecting a deepening economic crisis for Turks who are struggling to afford basic necessities a year before President Tayyip Erdogan faces a tough election.

On a monthly basis, consumer prices rose 2.98%, compared to a Reuters survey forecast of 4.8%, according to the Turkish Statistical Institute.

According to the survey, annual consumer price inflation is projected at 76.55%. The latest figure topped 73.2% in 2002 and is the highest since October 1998, when annual inflation was 76.6% and Turkey struggled to end a decade of price increases.

The domestic producer price index rose 8.76% m/m in May, up 132.16% y/y, reflecting how the 20% depreciation of the currency this year has led to a sharp rise in import costs for businesses and households. farms.

The lira lost 44% against the dollar last year largely due to a series of unorthodox interest rate cuts that Erdogan has sought to spur with loans and exports despite already rising prices.