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☆ Lionel Messi-inspired Argentina defeats Canada in opening game of Copa América
▼ + stars: | 2024-06-21 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Argentina began its defense of the Copa América title with a 2-0 victory against Canada at the Mercedes-Benz Stadium in Atlanta on Thursday. Lionel Messi broke an appearance record which had stood for over 70 years by playing in his 35th Copa América match, and was at the heart of Argentina’s goals from Julián Álvarez and Lautaro Martínez. Canada, appearing in this expanded edition of the Copa América for the first time, was a heavy underdog against the 15-time champion but did squander several promising opportunities to get on the scoresheet. Charly Triballeau/AFP/Getty ImagesArgentina is now on a nine-match unbeaten run in the Copa América, having won the 2021 tournament as well as its third-place playoff against Chile in 2019. Victory in this year’s competition would be Argentina’s third-straight trophy in major tournaments having won the World Cup in 2022.

Persons: Lionel Messi, Julián, Ángel Di María, Alexis Mac Allister, Maxime Crépeau, Canada’s, Stephen Eustáquio, Emi Martínez, Alphonso Davies, Messi, Mac, couldn’t, Crépeau, Derek Cornelius ’, Jonathan David, Charly Triballeau Organizations: CNN — Argentina, Copa, Canada, Mercedes, Benz, Liverpool, Crépeau, Argentina, Getty, Copa América, Chile Locations: Atlanta, Canada, Argentina, AFP, Peru

☆ Argentina's Senate passes Milei's economic reform bill as protesters clash with riot police
▼ + stars: | 2024-06-13 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Aerial view of a fire during a protest outside the National Congress in Buenos Aires on June 12, 2024. Argentina's Senate narrowly passed President Javier Milei's sweeping economic reform bill, delivering a tentative legislative victory to the right-wing leader even as protesters clashed with riot police. Lawmakers in Argentina's upper house on Wednesday voted 37 to 36 to approve the bill after a marathon debate, with Vice President and head of the Senate Victoria Villarruel casting the deciding vote in favor of Milei's economic measures. The reform bill is a core tenet of Milei's push to revive the country's crisis-stricken economy. "Today there are two Argentinas," Argentina's vice president said, according to Reuters.

Persons: Javier Milei's, Senate Victoria Villarruel, Villarruel Organizations: National Congress, Argentina's, Lawmakers, Senate Victoria, Getty, Buenos Aires Times, Reuters Locations: Buenos Aires, Argentina

Buenos Aires CNN —Police in Argentina clashed Tuesday with anti-government protesters outside Congress, where senators were scheduled to debate a bill on government and economic reforms proposed by libertarian President Javier Milei. A CNN en Español team on the ground witnessed police using water cannons and tear gas to disperse the crowd, while protesters were seen hurling objects back at police. A car belonging to a TV station was overturned and set on fire before it was extinguished by firefighters. A demonstrator reacts during a protest near Argentina's National Congress, on the day senators debate President Javier Milei's economic reform bill, in Buenos Aires on June 12. Mariana Nedelcu/ReutersDemonstrators from various social groups and unions had gathered there to voice their opposition to the proposed reforms.

Persons: Javier Milei, Javier Milei's, Mariana Nedelcu Organizations: Buenos Aires CNN — Police, CNN, Argentina's National, Reuters Locations: Buenos Aires, Argentina, Congress

☆ Argentina’s 'anarcho capitalist' Milei meets with Sam Altman, Tim Cook and Sundar Pichai in a bid to spur investment
▼ + stars: | 2024-05-30 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

Argentina's President Javier Milei waves during the commemoration of the 214th anniversary of the May Revolution that led to the independence from Spain, at Plaza San Martin in Cordoba, Argentina, on May 25, 2024. On his seventh overseas trip since taking office late last year, Argentina's Milei traveled to San Francisco late Monday and has since met with OpenAI CEO Sam Altman, Google's Sundar Pichai and Apple CEO Tim Cook. The right-wing leader, and self-described "anarcho capitalist," is scheduled to meet with Meta CEO Mark Zuckerberg before departing from the U.S. on Friday. On a separate trip to the U.S. last month, Milei met with tech billionaire Elon Musk at a Tesla electric car factory in Austin, Texas. The growth of AI data centres will also require significant energy and water resources, of which Argentina has in abundance."

Persons: Javier Milei, Diego Lima, Argentina's Milei, Sam Altman, Google's Sundar Pichai, Tim Cook, Mark Zuckerberg, Milei, Elon Musk, Nicolas Saldias, Saldias, Mariano Machado, Verisk Maplecroft, We're, " Machado, Javier Milei's, Luis Robayo Organizations: Plaza San, Afp, Getty, Apple, Meta, U.S, Analysts, America, Economist Intelligence Unit, CNBC, Americas, Verisk Locations: Spain, Plaza San Martin, Cordoba, Argentina, San Francisco, U.S, Austin , Texas, Olivos, Buenos Aires Province

☆ Big Tech is cozying up to Argentina's firebrand president as it sets its sights on the country's 'white gold'
▼ + stars: | 2024-05-29 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

Argentina's President Javier Milei is in the US to meet with leaders of the world's biggest tech companies. Tim Cook, Mark Zuckerberg, Sundar Pichai, and Elon Musk have all agreed to meet with him, his spokesman said. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Milei's schedule includes private meetings with three of tech's biggest names: Google CEO Sundar Pichai, Apple boss Tim Cook, and Meta founder Mark Zuckerberg.

Persons: Javier Milei, Tim Cook, Mark Zuckerberg, Sundar Pichai, Elon Musk, —, Joe Biden, he's Organizations: Service, Business Locations: West, Silicon Valley

☆ Elon Musk's Tesla dreams may hinge on his blossoming bromance with Argentina's libertarian president Javier Milei
▼ + stars: | 2024-05-13 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Elon Musk seems to be courting Argentine President Javier Milei to secure lithium supplies. AdvertisementTesla CEO Elon Musk has been cozying up to Argentine president Javier Milei — and lithium may be one reason why. Milei told the TV show "La Noche De Mirtha" in December that Musk had called him and said he was "extremely interested" in lithium. Argentina's ambassador to the US, Gerardo Wethein, told Argentine media that the pair talked about Tesla's "investment opportunities" in lithium, the Financial Times reported. Musk met up with Milei again last week, shared a photo of them on X, and later told his followers: "I recommend investing in Argentina."

Persons: Elon Musk, Javier Milei, —, Milei, Musk, Tesla, Gerardo Wethein, Donald Trump, He's Organizations: Argentine, EV, Service, Business, United States Geological Survey, Reuters, Financial Times Locations: Argentina, Argentine, Texas, Tesla's, Austin

☆ Corn hits 3-month high; soy, wheat climb on global crop weather woes
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: +2 min

Wheat futures hit a one-week high on renewed concerns over dry weather in Russia, the world's biggest wheat supplier. In Argentina, corn stunt disease spread by leaf-cutter insects and adverse weather prompted the Buenos Aires grains exchange to slash its estimate for Argentina's 2023/24 corn harvest by 3 millions metric tons to 46.5 tons. In wheat, Russia's IKAR agricultural consultancy cut its forecast for the country's crop to 91 million metric tons from 93 million tons and its wheat exports to 50.5 million metric tons from 52 million tons. Wheat futures jumped as weather forecasts showed the region getting virtually no rain in the coming two weeks. Managed money funds held a net short position in CBOT wheat futures at the beginning of 2024 because of a strong dollar and slow U.S. demand, Zuzolo said.

Persons: Jim Niewold, Susan Stroud, Mike Zuzolo, Nature, Zuzolo Organizations: Chicago Board of Trade, Global, Analytics Locations: Loda , Illinois, Brazil, Russia, Brazil's Rio Grande do Sul, Argentina, Buenos Aires, South America

☆ Why a Brazilian UFC star is championing a dead Austrian economist
▼ + stars: | 2024-04-28 | by ( David Shortell | ) edition.cnn.com time to read: +7 min

In recent years, the free-market economist and the contrarian Austrian school he led midcentury have been turned into a hashtag deployed by tax-wary workers. Ludwig von Mises From Mises Institute“Ludwig von Mises is Latin America’s leading economist,” declared the headline of a Bloomberg opinion piece earlier this month by economist Tyler Cowen. His free-market policy prescriptions, framed by an economic thinking centered on human behavior and individual choice, were widely considered out of fashion at the time. “That is my jam!” Shapiro said of the Austrian school. “If you start to understand the concept of the Austrian economic school,” Moicano said in a recent YouTube video, “you’re going to understand that’s what I need: free market, liberties, and wealth, my brother.

Persons: Renato Moicano, “, Ludwig von Mises, ” Moicano, Mises, midcentury, influencers, “ Ludwig von Mises, ”, Tyler Cowen, Marx, Camila Rocha, Moicano, Jair Bolsonaro, Javier Milei, Fabrice Coffrini, Milei, “ Milei, Daniel Raisbeck, Raisbeck, Milton Friedman, ” Mises, El, Nayib Bukele, Amanda Andrade, Rhoades, Rocha, Ben Shapiro, ” Shapiro, It’s, “ you’re Organizations: CNN — Brazilian UFC, Austrian, Mises, “, Bloomberg, New York University, Brazilian Center of Analysis, UFC, Economic, Cato Institute, Argentina national, Salvador, Conservative Political, Conference, Mises Institute, Mises Institutes, Fox Business, YouTube Locations: Austrian, United States, South, Central America, American, El Salvador, Argentina, Brazil, Davos, AFP, Milei, Buenos Aires, Mises, National Harbor , Maryland, Washington, Latin America

☆ How Argentina's inflation fight made the peso the strongest currency in the world
▼ + stars: | 2024-04-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The Argentine peso has jumped 25% in three months against the dollar in one key exchange market. AdvertisementArgentina's President Javier Milei still hasn't dollarized the economy as promised, but he has managed to do something that's possibly more shocking: strengthen the peso. This currency has been one of 2023's most devalued tenders, and yet it's now become the top currency against the dollar. In the past three months, the peso has surged 25% in the blue-chip swap market, one of Argentina's key foreign exchanges. It's also ironic that Milei has come to lead the peso out of tougher times, given his loud disdain for the currency last year.

Persons: Javier Milei's, —, Javier Milei, he's, It's, Milei Organizations: Argentine, Service, Bloomberg, Financial Times Locations: It's, Argentine, greenbacks

☆ Crisis-stricken Argentina must dollarize and get rid of the central bank, veteran economist says
▼ + stars: | 2024-03-15 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

A man wearing a Diego Maradona t-shirt walks by the Argentine Central Bank on November 30, 2023 in Buenos Aires, Argentina. Data published Tuesday by the country's statistical office showed that Argentina's 12-month inflation rate through February rose to 276.2%, reaffirming Argentina's position as having the world's worst inflation. Hanke said that in 1999 he had drafted a law at the request of former President Carlos Menem that would have dollarized Argentina's economy. Advocates of dollarizing Argentina's economy say the switch could help the country tame skyrocketing inflation and bring an end to its boom-and-bust cycle. Ecuador and Panama are two notable examples of countries that have previously dollarized their economies, but no country of Argentina's size has previously shifted to the U.S. dollar.

Persons: Diego Maradona, Tomas Cuesta, Javier Milei, Steve Hanke, Milei, Hanke, CNBC's, Carlos Menem, he'd, Argentina Javier Milei, Donald Trump Organizations: Argentine Central Bank, Getty, Monday, Johns Hopkins University, Argentine Congress, International Monetary Fund, CNBC, U.S . Locations: Buenos Aires, Argentina, London, Ecuador, Panama

☆ Argentina’s Milei accused of double standards in a scandal over a 48% pay raise
▼ + stars: | 2024-03-12 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Argentina's President Javier Milei gestures while delivering his first policy speech to parliament during the inauguration of the 142nd ordinary session of Congress in Buenos Aires on March 1, 2024. Argentina's Javier Milei has been accused of hypocrisy for orchestrating a substantial increase in presidential pay while pushing through an austerity package, in a scandal that has rocked the right-wing populist's government. It reflected a 48% increase in presidential pay from January. The libertarian economist, who has often been compared to former U.S. President Donald Trump, sought to defend the pay increase by claiming it was automatically triggered by a decree signed by former President Cristina Fernandez de Kirchner 14 years ago. Opposition lawmakers, however, said the president's own signature was used on a February decree that enabled the pay increase.

Persons: Javier Milei, Argentina's Javier Milei, Milei, Omar Yasin, Donald Trump, Cristina Fernandez de Kirchner, Cristina Kirchner Organizations: 142nd, Argentine Locations: Buenos Aires, Milei

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Argentina Photo of Half Naked, Bowed Prisoners Shows Tough-On-Crime Shift
▼ + stars: | 2024-03-06 | by ( March | At P.M. | ) www.usnews.com time to read: +2 min

The governor of Santa Fe province, Maximiliano Pullaro, shared details on Tuesday of a recent police search operation in the Pinero prison complex, where several high-profile drug traffickers are housed. She has previously applauded Bukele's approach to drug-related crime and said she was "interested in adapting the Bukele model" to Argentina. "They are going to have it worse and worse," Pullaro wrote on his Instagram social media account, alongside a picture of the prisoners with naked torsos and their heads bowed surrounded by guards in military gear. "Orders come out from the prisons that make life impossible for the people of Santa Fe," the governor added. Santa Fe is home to the strategic grains port city of Rosario, which last year recorded one of the highest homicide rates in Argentina as criminal gangs fight over drug territory.

Persons: Lucinda Elliott, El, Nayib, Maximiliano Pullaro, Pinero, Patricia Bullrich, Bukele's, Pullaro, torsos, El Salvador's Bukele, Bukele, Javier Milei's, Alistair Bell Organizations: Reuters, El Salvador, Argentina's, Legal, Social Studies, Conservative Political, Conference Locations: Argentina, Santa Fe, Maximiliano, Rosario, Buenos Aires, Washington

VATICAN CITY (AP) — Argentina’s faith and politics came together Sunday as Pope Francis canonized the country’s first female saint with Argentina's libertarian president, Javier Milei, sitting in the front row of St. Peter’s Basilica. The Mass to declare Mama Antula a saint marked the first meeting between the Argentine pope and Milei, who once called Francis an “imbecile” for defending social justice. Milei is to meet privately with Francis on Monday, before also having private talks with Italy’s far-right Premier Giorgia Meloni and the president. “It’s a gift of God that Pope Francis — an Argentine pope, a Jesuit pope — can canonize her,” he said. “But Mama Antula is a saint independent of Francis.”

Persons: Pope Francis, Javier Milei, Mama Antula, Milei, Francis, ”, Francis ’, —, Italy’s, Giorgia Meloni, ” Francis, Moses, “, María Antonia de Paz y Figueroa, Silvia Correale, Mama, Mama Antula's, ” Correale, Ignatius, Jorge Ignacio García Cuerva, Antula, Pope Benedict XVI, Pope Francis — Organizations: VATICAN CITY, Argentine, Associated Press, St, Catholic Church Locations: Peter’s, Argentina, Rome, Israel, Argentine, Jerusalem, Buenos Aires, Uruguay

☆ I quit my dream job at 32 and spent $34,000 to travel the world—here are my 4 biggest regrets
▼ + stars: | 2024-02-09 | by ( Helen Zhao | ) www.cnbc.com time to read: +4 min

I was 28 years old when I landed my dream video producer job at CNBC. After all, I'd spent most of my adult life focused on the future. So I quit my job at 32, bought a one-way ticket to Peru, and spent a year and a half — and $34,000 — exploring 18 countries across South America and Asia. I spent a lot of my life savings, delaying other goalsThe $34,000 I spent on my sabbatical was a significant portion of my life savings. Siem Reap, Cambodia Helen ZhaoI wish I'd continued investing throughout my travels, putting $200 each month into a large-cap index fund.

Persons: I'd, Helen Zhao, I'm, Roth, Cambodia Helen Zhao Organizations: CNBC, UCLA, Roth IRA Locations: Peru, South America, Asia, Rio De Janeiro, Buenos Aires, Argentina, Brazil, Rio, Bogotá, Colombia, Los Angeles, Siem Reap, Cambodia

☆ Argentina's Milei Calls on Two Officials to Resign After Reform Setback
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - Argentine President Javier Milei on Friday called for two government officials to resign, saying he needed greater commitment to his agenda after congress rejected his reform package earlier in the week. Milei, a self-defined anarcho-capitalist who took office in December, called for Mining Secretary Flavia Royon and Osvaldo Giordano, head of the country's ANSES social insurance agency, to step down. Congress' rejection of the omnibus bill on Tuesday marked a major setback for Milei, who has accused opposition lawmakers of "betrayal". "I wish the president a great administration and wherever I go I will continue to work for the good of Argentina," he said. On Friday he was in Rome, where he is scheduled to meet with his countryman Pope Francis.

Persons: Javier Milei, Flavia Royon, Osvaldo Giordano, Milei, Giordano, Royon, Pope Francis, Maximilian Heath, Sarah Morland, Cynthia Osterman Organizations: BUENOS AIRES, Reuters, Mining, Peronist Locations: BUENOS, Argentine, Argentina, Rome

☆ Trump-admiring populist Milei lashes out at Argentina's governors after major reform bill setback
▼ + stars: | 2024-02-07 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Argentina's President Javier Milei accused governors of seeking "to destroy" his sweeping economic reform bill, shortly after his ruling party abruptly withdrew the package from the floor of the country's lower house. The so-called "omnibus" bill, which had received support in general terms from opposition lawmakers last week, was rejected on Tuesday during an article-by-article approval process. The package of measures is a core tenet of Milei's push to reform Latin America's third-largest economy. Among other issues, the bill seeks to privatize state entities, increase penalties for social protests and scale back some environmental protections. Milei's Libertad Avanza party has pledged to send the bill back to committees to be debated when governors "understand that it is the people who need it, not the government."

Persons: Javier Milei, Jimena Blanco, Verisk Maplecroft Organizations: National, CNBC Locations: Argentina, Buenos Aires, Americas

☆ In Major Setback for Argentina's Milei, Sweeping Reform Bill Sent Back to Committee
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - A major economic reform package championed by Argentina's libertarian President Javier Milei will be sent back to a legislative committee for consideration, the president's party said on Tuesday, marking a major setback for the bill after lawmakers rejected many of its provisions. The rejections played out during the article-by-article approval process, after legislators voted to approve the so-called "omnibus" proposal in general terms late last week. Some opposition legislators called on those backing the reform package to compromise. "We ask the ruling party to have some flexibility. They love to keep losing," said opposition lawmaker Miguel Pichetto during the legislative session.

Persons: Javier Milei, Miguel Pichetto, Nicolas Misculin, David Alire Garcia Organizations: BUENOS AIRES, Reuters Locations: BUENOS, Libertad

TOKYO (AP) — Look for Lionel Messi to play in Wednesday's friendly in Tokyo with Inter Miami facing Japanese club Vissel Kobe. He sat alone on a stool on stage, wore a pink warm-up jacket, and showed a bit of humility. But I feel much better and I really want to be able to do it.”Messi tried to explain to Hong Kong fans, saying it was impossible for him to play with a groin injury. Through five games from El Salvador, to Dallas, to Saudi Arabia and Hong Kong, Inter Miami has won only once and has been outscored 12-7. “I hope we can return and we can play another game and I can be present,” he said.

Persons: Lionel Messi, refeunds, Luis Suarez —, —, Messi, Andres Iniesta, ” Messi, ”, Suarez, Mark Conrad, ” Conrad Organizations: TOKYO, Inter Miami, Vissel Kobe, Hong Kong, Kobe, ” Inter, Tokyo Olympics, Fordham University's Gabelli School of Business, Associated Press Locations: Tokyo, Barcelona, Japanese, Hong Kong, El Salvador, Dallas, Saudi Arabia

Through five games, Inter Miami has been outscored 12-7 and won only once. Inter Miami coach Gerardo Martino apologized for Messi's absence after Sunday's Hong Kong match. Fans who saw practice on Saturday at least saw the Argentina captain in a kick-around, with Miami co-owner David Beckham also on the field. “We understand the disappointment of the fans for the absence of Leo (Messi) and Luis Suarez,” Martino said. Inter Miami is to practice on Tuesday on the outskirts of Tokyo with snow in the forecast.

Persons: —, Lionel Messi, Messi, Uruguayan Luis Suarez, Suarez, ” John Grady, ”, Grady, Gerardo Martino, David Beckham, Leo, Luis Suarez, ” Martino, “, Luis, ” Messi, Nassr, It's, Martino Organizations: TOKYO, Inter Miami's, Uruguayan, Vissel Kobe, Newell’s, Inter Miami, University of South, Associated Press, Miami, Al, Saudi Arabia —, MLS Locations: El Salvador, Dallas, Saudi Arabia, Hong Kong, Florida, Argentina, University of South Carolina, Riyadh, Japan, Tokyo

☆ In South America, African-Inspired Religions Gain More Followers
▼ + stars: | 2024-02-03 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

Followers of African-based religions are on the rise in South America new data shows, a reflection of how the region's African heritage is gaining a greater voice beyond Brazil where such traditions are widely recognized. Surveys on religious beliefs in Argentina and Uruguay point to a rising number of people who identify with African-inspired faiths. Over 2% of Uruguayans identify as followers of African-inspired faiths like Umbanda. Oral histories and traditions associated with the African-based religions have long been misunderstood or demonized as "witchcraft," she said. "We've made strides in terms of the laws around practicing our religion, that in theory protect against discrimination," she said.

Persons: Lucinda Elliott, Mother Susana Andrade, Mae Susana de Oxum, Sasha Curti, Ramirez, Curti, Candomblé, Yemanjá, WE'VE, Victoria Sotelo, Greta Pena, stigmatization, Andrade, We've, Aurora Ellis, David Gregorio Organizations: Uruguayan, Federation of, University of the, Diaspora, Argentina's National Institute Locations: Candelaria Grimberg MONTEVIDEO, Africa, Federation of Uruguay, South America, Brazil, Argentina, Uruguay, Montevideo, Uruguayan, University of the Republic, Argentine, Paraguay, European Argentina, Candelaria, Buenos Aires

☆ Argentina Lower Chamber Approves Milei's 'Omnibus' Reform Bill
▼ + stars: | 2024-02-02 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - Argentina's lower chamber of deputies gave overall approval to libertarian President Javier Milei's sweeping "omnibus" reform bill in a vote on Friday after days of debate, paving the way for a decisive vote in the Senate. The controversial reform package was approved on a vote of 144 votes in favor, and 109 against. The mammoth bill is a key plank of Milei's reforms plans for Argentina's embattled economy, which is grappling with inflation above 200%, depleted foreign currency reserves and a time-bomb of debt repayments owned to creditors and investors. Milei's Libertad Avanza party only holds a small number of seats in the 257-seat chamber, but was still able to muster enough support from likeminded allies to advance the bill. (Reporting by Nicolas Misculin and Eliana Raszewski; Editing by Diane Craft and Sandra Maler)

Persons: Javier Milei's, Milei's, Nicolas Misculin, Diane Craft, Sandra Maler Organizations: BUENOS AIRES, Reuters, Senate Locations: BUENOS

BUENOS AIRES, Argentina (AP) — An Argentine court on Tuesday overturned labor rules proposed by President Javier Milei that would make it easier to fire workers, in a new blow to the leader's efforts to shake up regulations that he says have hampered the country's struggling economy. The appeals court already temporarily suspended the incoming president's new regulations in early January after a legal challenge brought by the main union group, the General Labor Confederation. Milei's administration did not immediately say whether it would do so. Milei in December announced a decree that would make several changes to labor rules, like increasing job probation from three to eight months, reducing severance compensation and allowing the dismissal of workers who take part in blockades during protests. Last week, the president faced a one-day general strike, organized by the biggest union, but some government officials downplayed the effects of the protest.

Persons: —, Javier Milei, Milei Organizations: General Labor Confederation, Congress Locations: BUENOS AIRES, Argentina, Argentine, Buenos Aires

☆ Argentina's President Milei to Visit Israel in Display of Support
▼ + stars: | 2024-01-26 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

By Candelaria GrimbergBUENOS AIRES (Reuters) - Argentina's President Javier Milei said on Friday he would travel to Israel in the "coming weeks," one of his first overseas trips since the libertarian economist took office last month after pledging strong support for Israel during his campaign. Milei was speaking during a Holocaust remembrance event in Buenos Aires, where he signaled support for Israel in its ongoing conflict with Hamas in Gaza, adding that Argentina would "not remain silent in the face of Hamas terror." Eleven Argentines are among the civilian hostages held by Hamas, Milei said, in captivity since the militant group who rules the Gaza Strip went on a deadly rampage through Israel on Oct. 7. Buenos Aires has a large Jewish community and, before taking office in December, Milei said he intended to convert to Judaism. The World Court ordered Israel on Friday to prevent acts of genocide against Palestinians and do more to help civilians.

Persons: Javier Milei, Milei, Candelaria Grimberg, Brendan O'Boyle, Rosalba O'Brien Organizations: Reuters, Israel, Court Locations: Candelaria Grimberg BUENOS AIRES, Israel, Buenos Aires, Gaza, Argentina, New York City

☆ Argentina's shock peso devaluation weighs on sportswear brand Puma
▼ + stars: | 2024-01-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

German sports retailer Puma on Wednesday said Argentina's major devaluation of its currency in December hit its financial results. Full-year currency-adjusted sales growth was estimated at 6.6%, versus an outlook for high single-digit growth, with sales of around 8.6 million euros ($9.37 million). Earnings before interest and taxes (EBIT) came in at around 622 million euros. The impact was particularly pronounced in the fourth quarter, where "the application of hyperinflationary accounting led to a sales decline," Puma said in the results. However, the consensus does not take negative effects from the extraordinary devaluation of the Argentine peso into account," it added.

Persons: Puma Organizations: Puma, Argentine Locations: London

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