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☆ The 'blue dollar' is booming: Argentina's lust for the buck pushed its black-market rate up 60,000% since peso parity ended in 2002
▼ + stars: | 2023-10-19 | by ( Anil Varma | ) www.businessinsider.com time to read: +5 min

For decades, the nation has been roiled by hyperinflation, sky-high interest rates, a growing mountain of debt, a string of sovereign defaults, and a cratering exchange rate. Rampant inflation has ravaged Argentina's currency over the years, wiping out much of its value against the dollar and ruining its appeal to consumers. The coveted bucks from the back alleys of Buenos Aires have their own price, even their own name: dólar blue, or the "blue dollar." AdvertisementAdvertisementUp 60,000% and going strongThe dollar's unofficial exchange rate smashed above 1,000 pesos for the first time last week, to hit levels almost three times as high as the official rate. That would almost certainly mean the blue dollar surging to new highs.

Persons: —, It's, Javier Milei, Manuel Cortina Organizations: Service, Spain's Santander Group, Cato Institute, Local, Argentine, Monetary Fund, BBVA Locations: Argentina, Buenos Aires, bluedollar.net, American, Brazil, Argentine, Spanish

☆ Opinion | The Subtlety of J.R.R. Tolkien
▼ + stars: | 2023-09-08 | by ( Ross Douthat | ) www.nytimes.com time to read: +7 min

The devil appears to some people as Lucifer the light-bringer, yes — but his darker visage finds worshipers as well. Ours is no longer the world in which Tolkien grew up, nor even the one in which he spent his last years. Tolkien himself was very careful to note that the Shire is not self-sustaining, dependent as it is on outsiders for security. I obviously endorse this point, but I think the last line undersells how much Tolkien subjected his own pastoral nostalgia to critique. Because Tolkien is a reactionary, the solution to that sickness is the return of a king of ancient lineage.

Persons: Tolkien, Soviet Union didn’t, Adolf Hitler’s, Joseph Stalin, Hitler, Lucifer, unrealism —, Tolkien’s, Philip Larkin, “, King Charles III’s, Niall Gooch, Hobbitism, Bilbo, It’s, Gondor, Anárion, that’s Organizations: Gorgoroth, Jackson Locations: Nazi Germany, Soviet Union, England, Tolkien’s, Isengard, Shire, Britain

☆ Opinion: The surprise winner of the debate
▼ + stars: | 2023-08-24 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +30 min

CNN —CNN Opinion asked our political contributors to weigh on the first Republican presidential debate of the 2024 season. On Wednesday night, on more than one issue, Haley broke with the old guard in some meaningful ways. Karen Finney: Ron DeSantis falls flatKaren Finney Ralph AlswangeAfter weeks of buildup and reports of serious debate preparation with a top Republican debate coach, this was supposed to be the night that Florida Gov. Instead, DeSantis delivered a flat debate performance devoid of any standout moments, demonstrating why he is the best alternative to former President Donald Trump. Asa Hutchinson in a few instances, not one of the GOP candidates sounded like a serious contender for the White House.

Persons: Nikki Haley, “, Donald Trump, Haley, won’t —, that’s, Trump, Joe Biden’s, Ron DeSantis, Vivek Ramaswamy, Haley’s, Karen Finney, Karen Finney Ralph Alswange, DeSantis, Donald Trump ., MAGA, George Soros, Florida’s, ” Karen Finney, Patrick T, Brown, Patrick, Mike Pence, Ramaswamy’s, Ramaswamy, Pence, “ It’s, ” Ramaswamy, Sophia A, Nelson, ‘ Rich, Richmond ’ Sophia A, Nelson Sophia A, Richmond ”, Oliver Anthony, Sen, Tim Scott of, Margaret Thatcher —, Michelle Obama, ” Scott Jennings, Scott Jennings, Nikki Haley overperforming, Doug Burgum, Asa Hutchison, Chris Christie, unapologetically, George W, Bush, Mitch McConnell, Jill Filipovic, Jill Filipovic Vivek Ramaswamy, G.T . Bynum, Bynum, Ronald Reagan —, —, shamefully, Putin, Nicole Hemmer, Robert Taft, Dwight Eisenhower, Ike, Ronald Reagan, Pat Buchanan, Carolyn T, Robert M, Who, Geoff Duncan, GOP Geoff Duncan CNN, Asa Hutchinson, ” Roxanne Jones, Roxanne Jones, Nikki Haley —, I’ve, Jones, ”, WURD, Kristen Soltis Anderson, Nikki Haley’s, ” Raul A, Reyes, Joe Biden, Biden, Raul A, Jon Gabriel, Jon Gabriel Immigration, I’m, ” DeSantis Organizations: CNN, South Carolina Gov, Republican Party of Trump, Florida Gov, Biden, Republican, Donald Trump . Time, New, New Jersey Gov, Democratic, Trump, GOP, Public Policy Center, Economic, North, Richmond, British, Republican Party, North Dakota Gov, Arkansas Gov, RunSwitch Public Relations, Twitter, Pew Research Center, Internal Revenue Service, Department of Education, Pew, Former South Carolina Gov, Rogers Center, Vanderbilt University, “ Partisans, Conservative, Wednesday, Department of Justice, UN, Former New Jersey Gov, America’s Conservative Party, White House . Florida Gov, ESPN The Magazine, ESPN, New York Daily News, Philadelphia Inquirer, Kristen Soltis Anderson CNN Former South Carolina Gov, America, Reyes CNN, Special Forces, Fox, CNN Town Hall, USA, Gallup, The Arizona Locations: China, Florida, Hawaii, New Jersey, America, Washington , DC, Ukraine, Tim Scott of South Carolina, Georgia, Louisville , Kentucky, millennials, New York, Israel, United States, Tulsa , Oklahoma, Mexico, El Paso, dearer, Arizona, The Arizona Republic

☆ Pound's mini-budget dip made UK's Brexit bill dearer
▼ + stars: | 2023-08-01 | by ( Andy Bruce | ) www.reuters.com time to read: +3 min

In previous years, the Treasury's "reportable losses" have ranged between zero and a few million pounds. This 855 million-euro payment cost Britain 764 million pounds on a day when 1 pound would buy only 1.12 euros. Back in April 2022, when the EU updated Britain's payment schedule for June through September, it assumed an exchange rate of around 1.18 euros per pound - equating to monthly payments of 719 million pounds rather than 764 million pounds. Still, that small net gain represents a sharp drop from March 2022 when it stood at 91.2 million pounds - with the payment on Sept. 30 a conspicuous loss-maker. Economists put the broader costs of the mini-budget episode - stemming from loss of investor confidence and higher market interest rates - in the billions of pounds.

Persons: Dado Ruvic, Liz Truss's, James Murray, Kwasi Kwarteng, Mark Potter Organizations: REUTERS, European Union, Britain, Treasury, Labour Party, Reuters, Thomson

☆ High inflation isn’t going away
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

The report, released on Tuesday, indicates that global inflation has peaked but policymakers will still have to fight harder to vanquish it. Worldwide growth in consumer prices will fall from an annual average of 8.8% in 2022 to 6.6% in 2023 and 4.3% next year, the IMF reckons. A drop in energy costs and weaker demand – hammered by rising interest rates - will drive much of that decline. Even in advanced economies, where inflation is set to fall from 7.3% in 2022 to 4.6% this year, the IMF reckons prices will still rise by 2.6% in 2024. That suggests interest rates will stay high even after the U.S. Federal Reserve and European Central Bank stop hiking.

☆ Bootmaker Dr. Martens' margin warning knocks shares down 20%
▼ + stars: | 2022-11-24 | by ( Radhika Anilkumar | ) www.reuters.com time to read: +2 min

"Going into the winter season, we see people buying more of our iconic boots which (are) ... the 1460s and our Jadons," Wilson added. To help employees cope with rising prices and dearer bills, the company has offered a one-off payments of 500 pounds ($605) to employees earning less than 45,000 pounds a year, Wilson said. First-half core profit was flat compared with a strong year ago period, the company said, while revenue rose 13% to 418.6 million pounds, helped by price hikes. The stock was down 21.2% at 225.6 pence by 1137 GMT, having risen the previous session to its highest since February. ($1 = 0.8260 pounds)Reporting by Radhika Anilkumar in Bengaluru; Editing by Rashmi Aich and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Super-voters override self-driving truck controls
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 11 (Reuters Breakingviews) - If only it weren’t so easy to see what’s behind the latest mess at TuSimple (TSP.O). The self-driving truck technology developer has descended into corporate governance chaos after the ousted chief executive, Xiaodi Hou, turned around and fired the entire board of directors. The situation was made possible by a dual-class share structure that gives Hou and his co-founder Mo Chen 59% voting control despite their far smaller economic stakes. TuSimple achieved a nearly $8.5 billion market value when it went public in April 2021; it’s now worth about $640 million. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

GAZA, Sept 18 (Reuters) - An ornate Byzantine floor mosaic showing a variety of colourful birds and other animals has been discovered by chance in Gaza after a Palestinian farmer tried to plant new trees on his land. Trying to figure out why some trees had not properly taken root, Nabahin said he and his son began digging. 1/5 Palestinian farmer Salman al-Nabahin cleans a mosaic floor he discovered at his farm and which dates back to the Byzantine era, according to officials, in the central Gaza Strip September 18, 2022. REUTERS/Ibraheem Abu Mustafa Read MoreThe Palestinian Ministry of Tourism and Antiquities said the flooring included several mosaic panels depicting animals and other features of social life during the Byzantine era. But due to a lack of funds and relevant professionals, Gaza has usually invited international groups to help with the process of excavation and preservation.

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