Automakers suspend deliveries to Russia
With Russians snapping up cars with their plungling rubles, automakers are facing losses for every vehicle they sell. Audi, General Motors and Jaguar Land Rover have temporarily suspended deliveries to Russia. Meanwhile as the ruble continued to nosedive, Russian president Vladimir Putin warned the crisis could last as long as two years.
Sony Pictures cancels North Korea movie
After a hacker group threatened exhibitors, Sony Pictures cancelled the theatrical release of The Interview, a comedy in which a couple of TV producers are given a fictional mission to assassinate North Korean leader Kim Jong Un. Sony's move was roundly condemned by the film community. The same group may have been responsible for a cyber attack in which masses of Sony's confidential files were leaked. The US government is taking the threats seriously and blames the North Korean government.
Ruble rout hits mechanical engineering sector
Business is still brisk for Germany's crucial mechanical engineering industry, but the industry association is nervous. The plunge in the Russian ruble means declining order volume for those firms directly doing business with Russia, and less business for many companies supplying components. That's what's happening for the Ziehl-Abegg Company, which makes industrial fans.