Economy
Milei's Argentina dollarization plan has Latin American precursors
Argentine president-elect Javier Milei ran his campaign on promises to ditch the peso for the US dollar and do away with a central bank -- all in the name of subduing rampant inflation. Until September, Venezuela's annual inflation rate was 317 percent, according to its central bank.
Milei says could take two years to tame Argentina's inflation
President-elect Javier Milei said Monday that it could take between 18 and 24 months to bring Argentina's rampant inflation under control, as he outlined his plans to reform the economy. "The empirical evidence for the Argentine case says that if you cut monetary emission today, it takes between 18 and 24 months to destroy (inflation)," he said.
Workers at Detroit's 'Big 3' ratify labor contract: union
Workers from Ford, General Motors and Stellantis ratified new contracts with hefty wage hikes, their union announced Monday, closing the books on an historic autoworkers strike at the three Detroit giants. General Motors also applauded the ratification.
Milei says could take two years to tame Argentina's high inflation
President-elect Javier Milei said Monday that it could take between 18 and 24 months to bring Argentina's rampant inflation under control, as he outlined his plans to reform the economy. "The empirical evidence for the Argentine case says that if you cut monetary emission today, it takes between 18 and 24 months to destroy (inflation)," he said.
UK government prepares crunch budget with eyes on next election
Britain's Conservative government this week unveils a budget update that could determine its chances of re-election -- or the size of its defeat -- with promises to reinvigorate the economy as the party lags badly in the polls.
Messi's 2022 World Cup jerseys to go up for auction
A set of six jerseys that Lionel Messi wore during Argentina's victorious 2022 World Cup run will be auctioned in December, Sotheby's announced Monday, estimating their value at $10 million. If the jerseys indeed fetch above $10 million, that could make the sale the most valuable collection of sports memorabilia ever auctioned off, Sotheby's said.
Germany invites skilled Nigerian workers, announces 20 in-demand jobs for easy work visa
Germany is opening doors to more foreigners and has announced a list of 20 in demand jobs to be filled up, skilled workers stand a chance to secure visa.
Sam Altman: the 'super optimistic' star of AI
By recruiting former OpenAI CEO Sam Altman following his surprise ouster by ChatGPT's parent company, Microsoft is hiring a tech industry star at the forefront of the artificial intelligence revolution. Microsoft, which has financially backed OpenAI, announced on Monday that it was hiring Altman to lead a new advanced AI research team.
Milei's dilemma: how to solve a problem like Argentina?
Argentina's president-elect Javier Milei will have no time to bask in his Sunday victory as he inherits a country crippled by inflation and short on cash, creditors and international sympathy. He has promised "the end of Argentina's decline" and warned there is no time for "gradualism... or half-measures."
Economy
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