Econo - Economy.Finance.Money

Historical statistics point to a deep crisis in the USA. 📉 The top 10% of the largest companies in the S&P 500 account for 75% of the index's capitalization. 📊 This same figure was seen just before the onset of the Great Depression, the largest financial crisis in the USA, which lasted for 10 years. The previous peak occurred during the dot-com crisis in 2000. 📈 #EconomicForecasts @Economyfinancemoney

Elon Musk is ready to release his own smartphone in response to AI in the new iOS. 📱 Musk stated that if Apple integrates OpenAI spyware into its devices, he might release a phone with a built-in Grok AI model. Additionally, Musk will ban all Apple devices in his companies if Apple integrates OpenAI at the OS level. 🚫🍏 According to Musk, Apple has no idea what it's doing by integrating OpenAI into its devices. 🤔 #EconomicForecasts @Economyfinancemoney

Here are the reasons behind Turkey's desire to join BRICS - inflation in the country has risen to a record 75%. 📈 Turkey was one of Russia's main trading partners after February 2022 - by the end of 2022, trade turnover almost doubled. In 2023, there was a decline of 20-25%. And since December, due to fears of secondary sanctions, private trade between Russia and Turkey has practically halted. 🛑 The consequences were not long in coming. At the peak of extremely favorable trade for Turkey, inflation fell to 38%. Now, it has set a record since November 2022 - 75.45%. It is clear that the halt in trade with Russia is far from the only reason for Turkey's galloping inflation. But the fact that it has become an important factor is also undeniable, as at its peak, Russia was the main and largest trading partner of the country. 📊 Joining BRICS will open up new opportunities for Turkish business. 💼 #EconomicForecasts @Economyfinancemoney

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Toyota has lost $15.6 billion due to a scandal involving falsified certification data. 💸 Toyota shares dropped more than 5.4%, and Mazda, the country's second-largest automaker, fell by 7.7%. The same happened with Honda, Suzuki, and Yamaha. All five companies provided false crash test data or, in the cases of Toyota and Mazda, falsified the vehicles used in the crash tests. 📉 On June 3, Toyota announced it would temporarily halt the supply and sales of three models currently produced in Japan, namely the Corolla Fielder, Corolla Axio, and Yaris Cross. 🚗 #EconomicForecasts @Economyfinancemoney

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A court in Tashkent sentenced a student to 10 days of arrest for selling Notcoin and demanded the destruction of his Galaxy A30 phone and bank card. 🚨 Liability for the illegal sale of crypto assets in Uzbekistan was introduced at the beginning of the year. ⚖️ #EconomicForecasts @Economyfinancemoney

Chinese chips are only a few years behind Western ones - WSJ. 🐉 In a recent article, The Wall Street Journal examines the successes of SMIC, a Chinese chip and electronics manufacturer. Recently, they received a $48 billion grant from the government with a single goal - to eliminate dependence on chips from South Korea and Taiwan. 💰 The publication notes that the ban and trade war forced China to "wake up." China was completely satisfied with trading with the West, but when sanctions began, the "sleeping lion," as the publication describes, got down to business. And now, Chinese-made chips are "only a few years" behind their Western counterparts. In the coming years, China will catch up with and surpass the West in chip technology and production volumes. 🚀 #EconomicForecasts @Economyfinancemoney

Turkey wants to join BRICS - said Turkish Foreign Minister Hakan Fidan. 🇹🇷 Fidan will participate in the BRICS foreign ministers meeting, which will be held on June 10-11 in Nizhny Novgorod. The Foreign Minister announced this while on a visit to China. 🌍 Turkey has held "candidate" status for EU membership for 25 years. They are playing their cards masterfully - either the EU hurries up with its acceptance and takes on its economy, or Turkey calmly joins BRICS, where it can return to trading with Russia, becoming the first NATO member in the organization. 🏦 #EconomicForecasts @Economyfinancemoney