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 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.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a growth from the previous year. The EU saw a 6.7% increase in new-car registrations in November, with electric vehicles rising by 13.3%. Hybrid-electric vehicles were preferred over plug-in hybrids. The ACEA highlighted the risk of Europe's EV sector falling 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 decline. Tesla, led by Elon Musk, saw a 45% jump in registrations. The ACEA also noted the overall growth of new vehicle registrations in the EU, Britain, and the EFTA.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations. The European Automobile Manufacturers Association highlighted a 13.3% year-on-year rise in electric vehicle registrations, despite a drop 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 growth, while Stellantis experienced a decline. Tesla, led by Elon Musk, had a 45% jump in registrations, accounting for 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 EU saw 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%, while hybrid-electric vehicles saw a surge of 28.7%. However, plug-in hybrids experienced a decline of 22.1%. Despite the growth, concerns have been raised about Europe's EV sector potentially falling behind due to China's supply chain dominance and U.S. incentives. Car makers like Volkswagen and Mercedes-Benz have noted a plateau in demand and market challenges. Tesla saw a 45% jump in registrations in November, accounting for 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.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a growth from the previous year. Despite this, the European Automobile Manufacturers Association highlighted the risk of Europe's EV sector falling behind without a strong EU industrial strategy, amid competition from China and the US. Car makers like Volkswagen and Renault saw registration increases, while Stellantis experienced a decline. Tesla, led by Elon Musk, saw a nearly 45% jump in registrations for November.

Electric vehicles represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, accounted for over 47.6% of new registrations, marking a growth from the previous year. Despite this rise, the European Automobile Manufacturers Association highlighted the risk of Europe's EV sector falling behind without a robust EU industrial strategy, amid competition from China and the US. Car makers and analysts have noted a potential plateau in EV demand, with Volkswagen and Mercedes-Benz expressing concerns over market challenges. In November, Volkswagen and Renault saw registration increases, while Stellantis experienced a decline. Tesla, led by Elon Musk, saw a nearly 45% jump in registrations, comprising 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 electric vehicle registrations. Despite this growth, the European Automobile Manufacturers Association (ACEA) expressed concerns about Europe's EV sector potentially falling behind due to China's supply chain dominance and U.S. incentives. The demand for electric vehicles has shown signs of plateauing, with Volkswagen and Mercedes-Benz noting unexpected developments and market challenges. Tesla, however, saw a 45% increase in registrations in November. Overall, new-car registrations in the EU rose by 6.7% in November.

Electric car sales in the EU represented nearly half of all new passenger car registrations from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a continuous growth trend. Despite this, the European Automobile Manufacturers Association warns that Europe's EV sector could lag behind without a strong EU industrial strategy, especially given China's supply chain dominance and U.S. incentives. Car makers like Volkswagen and Mercedes-Benz have noted challenges such as unexpected demand plateaus and a tough market environment. Tesla, however, saw a nearly 45% increase in registrations in November.

Low-income countries face challenges in accessing insurance and catastrophe bonds to mitigate economic impacts of climate change. COP28 in Dubai aims to address this by financing a climate disaster fund and facilitating lending structures. Multilateral lenders and wealthy nations are working to expand protection, with the European Bank for Reconstruction and Development planning to offer disaster clauses in loans. Global insured losses from natural catastrophes reached $50 billion in the first half of 2023. Risk pools and catastrophe bonds are among the financial tools discussed, with Mexico likely receiving a payout from a bond after Hurricane Otis. The UN-led loss and damage fund could provide vital funding for vulnerable countries.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a rise from the previous year. The European Automobile Manufacturers Association highlighted a 13.3% year-on-year increase in electric vehicle registrations, despite a decline in Germany's EV market. Hybrid-electric vehicles saw a surge in demand, while plug-in hybrids experienced a decline. The ACEA warned that Europe's EV sector could fall behind without a strong EU industrial strategy, as car makers and analysts note a potential demand plateau for EVs. Tesla saw a 45% jump in registrations in November, contributing to a 6% increase in new vehicle registrations across the EU, Britain, and the EFTA.

Low-income countries face difficulties accessing financial protection against climate change impacts, such as insurance and catastrophe bonds. COP28 in Dubai aims to address this by financing a climate disaster fund and facilitating lending structures. Multilateral lenders and wealthy nations are working to provide support, although progress is slow and complex. The European Bank for Reconstruction and Development is introducing disaster clauses in loans, and risk pools are being considered. The first half of 2023 saw $50 billion in insured losses from natural catastrophes, highlighting the urgency. The UN-led loss and damage fund could offer significant support for vulnerable countries.

Low-income countries face challenges accessing financial protection against climate risks, such as insurance and catastrophe bonds. COP28 in Dubai aims to address this by financing a climate disaster fund and facilitating lending structures. Multilateral lenders and wealthy nations are working to provide support, although progress is slow and complex. The European Bank for Reconstruction and Development is introducing disaster clauses in loans, and risk pools are being considered. The first half of 2023 saw $50 billion in insured losses from natural catastrophes, highlighting the need for better financial protection. The UN-led loss and damage fund, approved at COP28, could offer significant support for vulnerable countries.