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☆ Ecuador’s Attorney General Took on Drug Gangs. Then Chaos Broke Out.
▼ + stars: | 2024-01-13 | by ( Annie Correal | ) www.nytimes.com time to read: +1 min

Just weeks before Ecuador descended into chaos, with prison riots, two escaped criminal kingpins and the brief siege of a television station, the country’s top prosecutor launched a major operation aimed at rooting out narco-corruption at the highest levels of government. The investigation, called “Caso Metastasis,” led to raids across Ecuador and more than 30 arrests. They had been implicated by text chats and call logs retrieved from cellphones belonging to the drug trafficker, who was murdered while imprisoned. When the attorney general, Diana Salazar, announced the charges last month, she said the investigation had revealed the spread of criminal groups through Ecuador’s institutions. She also warned of a possible “escalation in violence” in the days to come, and said that the executive branch had been put on alert.

Persons: kingpins, Caso, ”, Diana Salazar Locations: Ecuador

☆ All prison staff held hostage by inmates in Ecuador now free, officials say
▼ + stars: | 2024-01-13 | by ( Heather Chen | ) edition.cnn.com time to read: +4 min

CNN —All prison guards and administrative employees held hostage by inmates at correctional facilities across Ecuador have now been freed, the national prisons agency said Saturday night. Earlier on Saturday it had said 133 guards and three administrative employees were still being held after at least 41 were released. Ecuadorian President Daniel Noboa welcomed the news and congratulated SNAI, the armed forces and the national police for securing their release. The agency had also reported an armed confrontation at a prison in the southern region of El Oro between inmates and members of the armed forces and the National Police. More than 3,000 police officers and members of the armed forces have been deployed to find him.

Persons: Daniel Noboa, SNAI, Jorge Rendon, ”, Rafael Correa, Adolfo “ Fito, Oliver, Fito, Fernando Villavicencio, Rodrigo Buendia, Villavicencio Organizations: CNN, Ecuadorian, National Police, Catholic, Security, Authorities, Getty Locations: Ecuador, Esmeraldas, El Oro, ”, Peru, Colombia, Guayaquil, Fito, Mexico, United States, Sinaloa, AFP, Quito

☆ Huge network of ancient cities uncovered in the Amazon rainforest
▼ + stars: | 2024-01-12 | by ( Amarachi Orie | ) edition.cnn.com time to read: +5 min

CNN —Archaeologists working deep in the Amazon rainforest have discovered an extensive network of cities dating back 2,500 years. The team also discovered monumental complexes with much larger platforms, which, they said, probably had a civic or ceremonial function. Even the most isolated complexes were linked by pathways and an extensive network of larger, straight roads with curbs. In the empty buffer zones between complexes, the team found features of land cultivation, such as drainage fields and terraces. These were linked to a network of footpaths, according to the study.

Persons: Stéphen Rostain, ”, ” Rostain, Rostain, Carlos Morales, Aguilar, Morales Organizations: CNN, Research, France’s National Center for Scientific Research, University of Texas Locations: Upano, Ecuador, France, Germany, Puerto Rico, Amazonia, Panama, Guatemala, Belize, Brazil, Mexico, Austin, ”

WASHINGTON (AP) — Archeologists have uncovered a cluster of lost cities in the Amazon rainforest that was home to at least 10,000 farmers around 2,000 years ago. A series of earthen mounds and buried roads in Ecuador was first noticed more than two decades ago by archaeologist Stéphen Rostain. “It was a lost valley of cities," said Rostain, who directs investigations at France’s National Center for Scientific Research. The largest roads were 33 feet (10 meters) wide and stretched for 6 to 12 miles (10 to 20 kilometers). “There’s always been an incredible diversity of people and settlements in the Amazon, not only one way to live,” said Rostain.

Persons: Stéphen Rostain, ”, Rostain, “, Antoine Dorison, Michael Heckenberger, José, Iriarte, “ There’s Organizations: WASHINGTON, France’s National Center for Scientific Research, University of Florida, University of Exeter, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Ecuador, —, Roman Empire, Europe, London, Amazonia, Bolivia, Brazil

☆ Notorious Gang Leader Escapes Prison, Sparking Violence Across Ecuador
▼ + stars: | 2024-01-10 | by ( Erica Star Domena | ) www.businessinsider.com time to read: 1 min

Gunmen stormed a live TV show in Ecuador and demanded an end to the crackdown on gangs that began when the country's most wanted prisoner escaped. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Persons: Gunmen Organizations: Business Locations: Ecuador

☆ The new architecture set to shape the world in 2024
▼ + stars: | 2024-01-10 | by ( Oscar Holland | ) edition.cnn.com time to read: +11 min

Kéré’s Berlin-based firm says the building’s top-heavy appearance was inspired by the palaver tree, which traditionally served as a meeting place. Designed for developer s2e Technologies by US architecture firm Gensler, the four circular residential structures can accommodate a combined 84 households. But it is perhaps Bjarke Ingels, founder of Danish design firm BIG, that has had the greatest impact on the city’s once modest skyline. The first restored sections are set to be ready in time for this summer’s Paris Olympics. Norwegian architecture firm Snøhetta and local practice Blight Rayner — who together beat more than 20 entries in an international competition — say that the design was inspired by the flow of the Brisbane River.

Persons: David Chipperfield, Francis Kéré, Kéré, China Stefano Boeri, Bosco, Stefano Boeri, Mestres Wåge, Nicolai Tangen, NBBJ, Dror, EPIQ, Ecuador Uribe Schwarzkopf, Bjarke, Moshe Safdie, Jean Nouvel, Ma Yansong, Ingels, France Chatillon Architectes, Notre Dame isn’t, Chatillon, Nikken Sekkei, ”, “, Blight Rayner —, Aunty Lilla Watson Organizations: CNN, superlatives, Malaysia’s, Benin National Assembly, Forest, Kunstsilo, Keppel South, Enclave, s2e Technologies, Bjarke Ingels, BIG, UNESCO, Heritage, Notre Dame, Palais, Beaux -, Chatillon Architects, UAE Kerzner, United, “ Michelin, New York Times, Gang, Queensland Performing Arts Centre, Queensland Performing Arts Locations: India, Benin, Porto, Novo, Burkina Faso, Kéré’s Berlin, Nanjing, China, Milan, Italy, Europe, China’s, Kristiansand, Norway, Norwegian, Keppel, Keppel South Central, Singapore, London, Canada, London , Ontario, Quito, Ecuador, Bjarke Ingels Quito, Parque La Carolina, Paris, France, Dubai, UAE, United Arab Emirates, Hotel, Denver, USA, Denver , Colorado, Urban, Brisbane, Australia, Australian

☆ Copa América 2024: CONMEBOL announces 14 host cities as tournament returns to the US
▼ + stars: | 2023-12-05 | by ( Matias Grez | ) edition.cnn.com time to read: +6 min

CNN —CONMEBOL, South America’s soccer federation, has announced the 14 cities that will host matches at the 2024 Copa América as the tournament returns to the United States for the first time since 2016. Ecuador was originally designated as the tournament host but pulled out in November 2022 due to economic and security concerns, as well as a lack of viable stadiums. CONMEBOL has encountered obstacles in hosting the last three editions of the Copa América held in South America. Now, for the third edition in a row, the host nation has been changed after the US took over organizing duties from Ecuador. Argentina won the postponed 2020 edition of the Copa América, which was moved to Brazil.

Persons: América, Atlanta United’s Mercedes, Michael Zarrilli, ” Ezequiel Fernández Moores, Copa América, Fernández Moores, Amanda Perobelli, ” Fernández Moores, “, Lionel Messi’s, Henry Romero, he’s, hasn’t, Messi, ” Sean Gregory, –, ” Organizations: CNN — CONMEBOL, Miami Gardens, Kansas City, Atlanta United’s, Benz, Copa América, CONMEBOL, CONCACAF –, Copa, Reuters, State, América, FIFA, USA, Canada, NFL, NBA, MLB, NHL, US, National, Inter Miami, Host Chile, Copa America, –, Leagues, “, TIME, FIFA Club Locations: South, United States, Vegas, Arlington (, Charlotte, Orlando, Miami, Santa Clara, Atlanta, East Rutherford ( NJ, Houston, Austin, Inglewood, CA, Glendale, AZ, Kansas, South America, Ecuador, Peru, North America, Central America, Caribbean, American, America, Argentine, Brazil, Chile, Colombia, Argentina, California, United, Mexico

☆ Top development banks, funds set up 'debt-for-nature' task force
▼ + stars: | 2023-12-04 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

[1/2] Fishermen go out to sea after Ecuador's goverment expanded the protected marine area around the Galapagos Islands, Ecuador January 24, 2022. REUTERS/Santiago Arcos Acquire Licensing RightsLONDON, Dec 4 (Reuters) - A consortium of top multilateral development banks (MDB) and climate funds launched a global "task force" on Monday to scale up the number and size of 'debt-for-nature' swaps that countries can do. It will initially be led by the Inter-American Development Bank (IDB) and the U.S. International Development Finance Corporation (DFC), lenders which between them have been involved in all the recent swaps, also including Barbados and Gabon. The Asian Development Bank, the African Development Bank, France's Agence Française de Développement, and the European Investment Bank will also be part of the task force, as well as the Green Climate Fund and the Global Environment Facility. Development banks play a particularly important role in debt-for-nature swaps because they provide the credit guarantees and/or political risk insurance that make them viable.

Persons: goverment, Santiago Arcos, Ilan Goldfajn, Scott Nathan, Marc Jones, Kirsten Donovan Organizations: REUTERS, Santiago, Reuters, Inter, American Development Bank, U.S . International Development Finance Corporation, Asian Development Bank, African Development Bank, France's Agence Française, European Investment Bank, Climate Fund, Global, Thomson Locations: Ecuador, Belize, Barbados, Gabon

ATLANTA (AP) — Fourteen U.S. cities will play host to Copa América next summer, with the semifinals at East Rutherford, New Jersey, and Charlotte, North Carolina, ahead of the July 14 championship in Miami Gardens, Florida. The semifinals will be in New Jersey's MetLife Stadium on July 9 and Charlotte's Bank of America Stadium the next day. This will be only the second time Copa América has been held outside of South America since the inaugural tournament in 1916. Except for the Centenario tournament, Copa América hosting duties usually have rotated among the 10 COMNEBOL nations in South America. They are: MetLife Stadium, Hard Rock Stadium, Mercedes-Benz Stadium, Levi's Stadium, SoFi Stadium, AT&T Stadium, NRG Stadium and Arrowhead Stadium.

Persons: América, Victor Montagliani, “, ”, Alejandro Dominguez, Lionel Messi, Montagliani Organizations: ATLANTA, Copa América, East, Central America, NRG, T, Farm, MetLife, Charlotte's Bank of America, ” CONCACAF, CONMEBOL, CONCACAF, Mercedes, Benz, SoFi, Levi's, Exploria, North America, América Centenario, Nations League, Costa Rica, Children's, Arrowhead, Levi’s, Copa América Centenario, Chile, Centenario Locations: East Rutherford , New Jersey, Charlotte, North Carolina, Miami Gardens , Florida, South America, North, Caribbean, Houston, Arlington , Texas, Glendale , Arizona, Las Vegas, New, Miami, Atlanta, Inglewood , California, Santa Clara , California, Orlando , Florida, Austin , Texas, Kansas City, Missouri, Kansas, United States, Mexico, Jamaica, Panama, Costa, Honduras, Canada, Trinidad and Tobago, NRG, Orlando, Los Angeles, Argentina, New York City, Ecuador, U.S

☆ Exclusive: World's top MDBs to launch debt-for-nature swap 'task force' - sources
▼ + stars: | 2023-11-30 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

The task force creation is the most significant step so far in showing that the global club of multilateral lenders, which between them have trillions of dollars worth of firepower, will significantly ramp up their support for these deals. Four sources involved in the plans, which are expected to be announced at the COP summit's 'finance day' on Monday, say the group will formally be called the "Task Force on Sustainability-linked Sovereign Financing for Nature and Climate". It will initially be chaired by the Inter-American Development Bank (IDB) and U.S. government's Development Finance Institution (DFC), said three of the sources with direct knowledge of the matter. Both lenders have been involved in all the recent swaps which have also included Barbados and Gabon. At their simplest, the swaps work by buying up a country's bonds, often at a discount, and then replacing them with cheaper eco-labelled ones that come with the special MDB guarantees.

Persons: Chico Mendes, Amanda Perobelli, MDBs, Marc Jones, Christina Fincher Organizations: Chico, Chico Mendes Institute for Biodiversity Conservation, Institute for, Environment, Resources, REUTERS, Reuters, Force, Sustainability, Nature, Inter, American Development Bank, government's Development Finance, World Bank, European Investment Bank, Development Bank, Asian Development Bank, ADB, Infrastructure Development Bank, Reuters Graphics, Conservancy, Thomson Locations: Pocone, Mato Grosso, Brazil, Belize, Barbados, Gabon, Beijing, U.S, Sri Lanka, Zambia, Kenya, Tanzania, Colombia, Ecuador

☆ Indigenous community in Ecuador wins legal fight to reclaim ancestral land after more than 80 years
▼ + stars: | 2023-11-29 | by ( Michael Rios | ) edition.cnn.com time to read: +1 min

CNN —An indigenous community has won a court battle to regain ownership over its ancestral homeland in the Ecuadorian Amazon, more than 80 years after they were displaced because of war. Last September, the community, which has only about 800 members, filed a lawsuit against the Ecuadorian state, claiming it was violating their right to ancestral property, Amazon Frontline said. In its ruling on Friday, the Provincial Court of Sucumbios gave Ecuador’s Ministry of Environment 45 days to deliver a property title to the Siekopai people for more than 104,000 acres of land, court documents show. “This is a historic moment for the Siekopai Nation,” said Elias Piyahuaje, President of the Siekopai Nation of Ecuador. “The land of Pë’këya has always been and will always be ours.

Persons: Sucumbios, ”, Elias Piyahuaje, ” Piyahuaje Organizations: CNN, Amazon Frontline, Amazon, Ecuador’s Ministry, Environment, Ecuadorian Locations: Ecuadorian, Ecuador, Peru, Siekopai, Siekopai Nation, Pë’këya, America

Still, the queen conch is one of many vulnerable species not included on Mexico's national endangered species list. In the meantime, species like the queen conch have lacked federal environmental protection and moved steadily toward extinction. Political Cartoons View All 1267 ImagesOfficials accept proposals to list species only during set periods for public comment. In particular, Mexico lists 535 species as endangered, its worst risk rating, whereas IUCN lists nearly 1,500 species in Mexico as either endangered or critically endangered. If a species is included on Mexico’s list in any category, all commercial uses of that species are banned.

Persons: Alejandro Olivera, ” Olivera, It's, Olivera, Angélica Cervantes Maldonado, Rodrigo Jorge, Jorge Organizations: MEXICO CITY, —, Center for Biological Diversity, Fish, Wildlife Service, National Autonomous University, U.S . National Oceanic, Atmospheric Administration, The International Union for Conservation of, IUCN, UNESCO Locations: MEXICO, Banco Chinchorro, Belize, Mexico, Mexican, La Paz, of California, The U.S, elkhorn, Caribbean, Ecuador, Madagascar, Brazil, Saudi Arabia, Gulf of California

☆ Growing Numbers of Chinese Migrants Are Crossing the Southern Border
▼ + stars: | 2023-11-24 | by ( Eileen Sullivan | More About Eileen Sullivan | ) www.nytimes.com time to read: +1 min

The surge of migrants entering the United States across the southern border increasingly includes people from a surprising place: China. Despite the distances involved and the difficulties of the journey, more than 24,000 Chinese citizens have been apprehended crossing into the United States from Mexico in the past year. Once there, they turn themselves in to border officials and many seek asylum. Chinese citizens are more successful than people from other countries with their asylum claims in immigration court. And those who are not end up staying anyway because China usually will not take them back.

Locations: United States, China, Mexico, Ecuador, Central, South America, Colombia, Panama

☆ A Different Approach to Climate Action
▼ + stars: | 2023-11-24 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

Emissions from China, the world’s largest polluter, will peak within the next couple years, many researchers believe. Those two countries just agreed to accelerate their efforts to reduce emissions, delivering a much-needed jolt of ambition ahead of climate talks in Dubai this month. Efforts to crack down on emissions of methane — a potent but often overlooked greenhouse gas — are ramping up. “When we look at climate media, whether that’s filmmaking or newspaper headlines, it’s often really apocalyptic,” she said. So it’s a huge deal that we get it as right as possible.”

Persons: Ayana Elizabeth Johnson, it’s, ”, Johnson, “, ” Johnson Locations: China, United States, Dubai, Brazil, Indonesia, Ecuador

[1/4] An illegal money changer checks old U.S. dollars at a marketplace in Harare, Zimbabwe, November 26, 2020. The government reintroduced the local currency in 2019, but it rapidly lost value. Zimbabwe's dollarization story is as full of warnings as it is with promise. During the five years before dollarization in 2000, the monthly measure of annualized inflation averaged 33% in Ecuador. "With our local currency we couldn't buy anything, it was very expensive to acquire things, so dollarization ... allowed people to have greater security in their purchases."

Persons: Javier Milei, Milei, Zimbabwe's, Bongiwe Mudau, Dollarization, dollarization, Mudau, Moses Mhlanga, Nestor Cerneaz, Wilson Andrade, Juan Carlos Villota, Guido Puig, Tito Correa, Nyasha, Miguel Lo Bianco, Rodrigo Campos, Adam Jourdan, Karin Strohecker, Rosalba O'Brien Organizations: REUTERS, Philimon, Rights, U.S ., Reuters, International Monetary Fund, hawker, Reuters Graphics Reuters, dollarization, Thomson Locations: Harare, Zimbabwe, Philimon Bulawayo, Rights QUITO, HARARE, BUENOS AIRES, Zimbabwe's, Quito, Ecuador, Argentina, El Salvador, greenbacks, Buenos Aires, Argentine, New York

☆ I'm an American spending Thanksgiving as a combat nurse under fire on the frontline in Ukraine
▼ + stars: | 2023-11-23 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +9 min

Rebekah Maciorowski, 28, traveled to Ukraine in March 2022 to volunteer as a combat nurse. She will spend Thanksgiving on the frontline and plans on staying in Ukraine until the war is won. Rebekah Maciorowski | @bekamaciorowskiThere is no standardized testing when it comes to supplies, which has been a huge problem for me. 53rd Mechanized BrigadeThere was an anonymous gentleman who wrote a check for $2,000 for tactical medical supplies. And because I'm not a 501(c) organization, he gave it to this other organization and wrote them a handwritten letter explaining these are for medical supplies for Rebekah Maciorowski.

Persons: Rebekah Maciorowski, —, didn't, there's, tourniquets, @bekamaciorowski, I've, they'll, I'd, she's, I'm, we're Organizations: Service, Ukrainian, Health, Marines, Rockets, 53rd Mechanized Brigade Locations: Ukraine, Denver , Colorado, Donbas, Donetsk, Luhansk Oblast, Guyana, Mexico, Ecuador

☆ New Ecuador president Noboa pledges reforms to reduce violence, create jobs
▼ + stars: | 2023-11-23 | by ( Alexandra Valencia | ) www.reuters.com time to read: +4 min

[1/2] Ecuador's President Daniel Noboa signs first decrees to appoint ministers, at the Presidential Palace (Palacio de Carondelet) on the day of his swearing-in ceremony, in Quito, Ecuador November 23, 2023. REUTERS/Karen Toro Acquire Licensing RightsQUITO, Nov 23 (Reuters) - Business heir and former legislator Daniel Noboa was sworn in as Ecuador's new president on Thursday, pledging to reduce violence and create jobs via urgent legislative reforms. Noboa will serve as president for just 17 months, finishing predecessor Guillermo Lasso's term after Lasso brought forward elections to avoid likely impeachment. DEBT AND SECURITYThough most of Noboa's cabinet was sworn in later on Thursday, the young president did not appoint a minister of economy and finance, leaving the position vacant. Noboa is the son of Alvaro Noboa, a powerful banana baron billionaire who repeatedly failed to win Ecuador's presidency.

Persons: Daniel Noboa, Karen Toro, Fernando Villavicencio, Noboa, Guillermo Lasso's, Lasso, Sariha Moya, Rafael Correa, Alvaro Noboa, Lavinia Valbonesi, Alexandra Valencia, Julia Symmes Cobb, Oliver Griffin, Marguerita Choy, Bill Berkrot Organizations: Carondelet, REUTERS, Rights, National Assembly, El, Social Christian Party, Citizens, Ecuador's, Thomson Locations: Quito, Ecuador, Rights QUITO, American, Noboa, Europe

China, the world's second-largest economy, is already a major investor in South America and has offered tariff-free access to its huge consumer market to four countries. But Uruguay faces opposition from other members of the Mercosur bloc who want to settle an FTA with Europe instead. By comparison, other major beef exporters Australia and New Zealand, which have FTAs with China, pay tariffs at 3.3% and 0%. The elevation of ties with Uruguay to the level of Brazil and Argentina also pushes the remaining Mercosur member Paraguay further outside China's global trade and investment network. Agriculture-dependent Paraguay, whose main exports include beef and soybeans, is the last South American nation that has ties with democratically governed Taiwan, which China claims as part of its territory, and not with Beijing.

Persons: Xi Jinping, Luis Lacalle Pou, Florence Lo, Lacalle Pou, Xi, Joe Cash, Ryan Woo, Ella Cao, Toby Chopra, Raju Gopalakrishnan, Chizu Nomiyama, Alexander Smith Organizations: Uruguayan, of, People, REUTERS, New Development Bank BEIJING, Mercosur, South, Nations, New Development Bank, China, United, Mercosur CET, National Meat Institute of, China's National Bureau of Statistics, Thomson Locations: Beijing, China, Uruguay, Argentina, Brazil Mercosur, American, Brazil, South America, Chile, Costa Rica, Ecuador, Peru, Europe, Australia, New Zealand, Shanghai, United States, MERCOSUR Uruguay, Brussels, Montevideo, Mercosur, National Meat Institute of Uruguay, Paraguay, Taiwan

WASHINGTON (AP) — More children were apparently sickened by apple puree pouches recently recalled due to dangerous lead contamination, the Food and Drug Administration said. The agency has received 52 reports of elevated lead levels among children who reportedly consumed the products, which is up from 34 cases reported last week. The pouches were marketed to parents and children under three brands: WanaBana apple cinnamon fruit puree and Schnucks and Weis cinnamon applesauce pouches. The agency previously said cinnamon imported from a manufacturer in Ecuador was the “likely source” of the lead contamination. The affected children’s blood lead levels ranged from 4 to 29 micrograms per deciliter.

Persons: — Organizations: WASHINGTON, Food and Drug Administration, Schnucks, FDA, Centers for Disease Control, American Academy of Pediatrics, CDC, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Ecuador

RIO DE JANEIRO (AP) — Lionel Messi's Argentina squad celebrated like they'd won the World Cup again after a dramatic 1-0 win over archrival Brazil on Tuesday. It was Brazil's first home defeat ever in World Cup qualifying, a game that was delayed because of a brawl between fans in the stands. It was also the first time since 2009 that the five-time World Cup winners failed to score in a home game. Political Cartoons View All 1262 ImagesMessi left the pitch in the 78th minute amid a mixture of jeers and applause from Brazil fans. The 2026 World Cup in the United States, Mexico and Canada will include 48 teams, meaning direct entry for the top six teams from South America.

Persons: — Lionel Messi's, they'd, Messi, Nicolás, Fernando Diniz, they're, Ángel di Maria, “, Rodrigo de Paul, kneeled, Cristian Romero, Gabriel Martinelli, Rodrygo, Dibu Martinez, Otamendi, Lionel Scaloni, Endrick, Joelinton, ___ Organizations: RIO DE, archrival Brazil, Maracana, Inter Miami, South, Copa America, Brazil, ”, FIFA Locations: RIO DE JANEIRO, — Lionel Messi's Argentina, Brazil, Barcelona, Argentine, Argentina, Rio de Janeiro, Maracana, Rio, Qatar, ” Argentina, Uruguay, Colombia, Venezuela, Ecuador, Paraguay, Chile, United States, Mexico, Canada, South America, Bolivia, Montevideo, Peru

☆ The US dollar is central to Argentina's plan to fix its broken economy. There's just one hitch.
▼ + stars: | 2023-11-22 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

Argentina's new president Javier Milei wants to adopt the US dollar to tame sky-high inflation. There's a major problem with his plan to revive the ailing South American economy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRight-wing economist Javier Milei won Argentina's presidential runoff Sunday – and that means the country could soon ditch the peso for the US dollar. Under the president-elect's plan, the government would scrap the peso and replace it with the dollar.

Persons: Javier Milei, doesn't, —, Milei, Mary, Read, John Hopkins, Steve Hanke, Guillermo Ortiz, Nora Mazzini, Lucila Bonilla Organizations: Service, Central Bank of, US Federal Reserve, International Monetary Fund, Bank, Reuters, Bloomberg, Bank of Mexico, Economics, Oxford Economics Locations: Central Bank of Argentina, Ecuador, El, Panama, Argentina, Mar del Plata, Argentine

☆ DOJ Settles With Two U.K. Reinsurance Brokers Over Ecuador Bribes
▼ + stars: | 2023-11-21 | by ( David Smagalla | ) www.wsj.com time to read: 1 min

Tysers Insurance Brokers will pay a $36 million criminal penalty, while H.W. Wood will only pay a $508,000 penalty due to its financial condition, the Justice Department said. Photo: Jose Luis Magana/Associated PressThe Justice Department has settled with two U.K.-based reinsurance brokers that admitted to participating in a scheme to bribe Ecuadorean government officials. Tysers Insurance Brokers and H.W. Wood have agreed to enter into three-year deferred prosecution agreements filed in the Southern District of Florida.

Persons: Wood, Jose Luis Magana Organizations: Tysers, Justice Department, Associated Press The Justice, Tysers Insurance, Southern District of Locations: H.W, Southern District, Southern District of Florida

☆ How Electricity Is Changing Around the World
▼ + stars: | 2023-11-20 | by ( Nadja Popovich | ) www.nytimes.com time to read: +9 min

Fossil Clean Fossil CleanWorld electricity generationHow Electricity Is Changing Around the WorldCarbon-free electricity has never been more plentiful. Where Fossil-Fueled Power Is Still Growing Today trend Over Last Decade Declining fossil power Mostly clean already Plateau or other trend Rising fossil power Circles are sized by the amount of total power generated by each country in 2021-22. trend Over Last Decade Mostly clean already Declining fossil power Plateau or other trend Rising fossil power Circles are sized by the amount of total power generated by each country in 2021-22. Note: Total generation data is shown through 2022 for the countries that have power generation data available through that year. (The country’s per person electricity generation is still much lower than America’s.) “But the upfront cost is a barrier.”Millions of people around the world also continue to go without access to any form of electricity.

Persons: It’s, ”, Dave Jones, —, Faran Rana, Nancy Haegel Organizations: Nuclear, Wind, Oil Gas Coal United States European Union United, United, Oil Gas Coal, Energy, International Renewable Energy Agency, United States, National Renewable Energy Laboratory, Oil Gas Coal Argentina Australia Austria Bangladesh Belgium Brazil Bulgaria Canada Chile China Colombia Czechia Denmark Ecuador Egypt Finland France Germany Greece Hungary India Indonesia Iran Ireland Italy Japan Kazakhstan Kuwait Malaysia Mexico Netherlands New Zealand Nigeria Norway Oman Pakistan Peru Philippines Poland Portugal Qatar Romania Russian Federation Saudi, Oil Gas Coal Argentina Australia Austria Bangladesh Belgium Brazil Bulgaria Canada Chile China Colombia Czechia Denmark Ecuador Egypt Finland France Germany Greece Hungary India Indonesia Iran Ireland Italy Japan Kazakhstan Kuwait Malaysia Mexico Netherlands New Zealand Nigeria Norway Oman Pakistan Peru Philippines Poland Portugal Qatar Romania Russian Federation Saudi Arabia Serbia Singapore Slovakia South Africa South Korea Spain Sweden Switzerland Taiwan Thailand Turkey Ukraine United Arab Emirates United Kingdom United Locations: China, India, United States, Europe, London, Oil Gas Coal United States European Union United Kingdom Australia, Australia, Oil Gas Coal China India Indonesia Malaysia, Asia, Indonesia, Oil Gas Coal Argentina Australia Austria Bangladesh Belgium Brazil Bulgaria Canada Chile China Colombia Czechia Denmark Ecuador Egypt Finland France Germany Greece Hungary India Indonesia Iran Ireland Italy Japan Kazakhstan Kuwait Malaysia Mexico Netherlands New Zealand Nigeria Norway Oman Pakistan Peru Philippines Poland Portugal, Oil Gas Coal Argentina Australia Austria Bangladesh Belgium Brazil Bulgaria Canada Chile China Colombia Czechia Denmark Ecuador Egypt Finland France Germany Greece Hungary India Indonesia Iran Ireland Italy Japan Kazakhstan Kuwait Malaysia Mexico Netherlands New Zealand Nigeria Norway Oman Pakistan Peru Philippines Poland Portugal Qatar Romania Russian Federation Saudi Arabia Serbia Singapore Slovakia South Africa South Korea Spain Sweden Switzerland Taiwan Thailand Turkey Ukraine, Oil Gas Coal Argentina Australia Austria Bangladesh Belgium Brazil Bulgaria Canada Chile China Colombia Czechia Denmark Ecuador Egypt Finland France Germany Greece Hungary India Indonesia Iran Ireland Italy Japan Kazakhstan Kuwait Malaysia Mexico Netherlands New Zealand Nigeria Norway Oman Pakistan Peru Philippines Poland Portugal Qatar Romania Russian Federation Saudi Arabia Serbia Singapore Slovakia South Africa South Korea Spain Sweden Switzerland Taiwan Thailand Turkey Ukraine United Arab Emirates United Kingdom United States Vietnam

☆ Rosalynn Carter death: former first lady and wife of Jimmy Carter, passes away at 96
▼ + stars: | 2023-11-19 | by ( Keith Allen | Kate Andersen Brower | ) edition.cnn.com time to read: +29 min

Rosalynn Carter passed away peacefully with family by her side at her home in Plains, Georgia, the center said in a statement. It was likely that Eleanor Rosalynn Smith would cross paths with Jimmy Carter in their small hometown of Plains, Georgia. Former first lady Rosalynn Carter poses for a portrait in New York in 2011. Atlanta Journal-Constitution/AP Jimmy Carter, then a Georgia state senator, hugs his wife at his campaign headquarters in Atlanta in 1966. The Carter CenterRosalynn and Jimmy Carter had four children, 12 grandchildren and several great-grandchildren.

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☆ Peso dollarization: Milei’s victory in Argentina election puts the currency’s future in doubt
▼ + stars: | 2023-11-19 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +1 min

CNN —Libertarian Javier Milei’s victory Sunday in Argentina’s presidential run-off contest has far-reaching consequences for the country’s struggling economy, including the fate of the peso. A political outsider who ran on a promise to “break the status quo,” Milei’s economic platform rested on a desire to dollarize the Argentinian economy. Dollarization means the country would give up the Argentine peso and use the US dollar as its currency. Milei’s proposal to switch Argentina’s currency from the peso to the US dollar rests on the argument that the dollar is stronger than the peso and, unlike the peso, cannot be printed at will. Sergio Massa, the country’s current economy minister and Milei’s run-off opponent, had criticized the plan for dollarization as a surrender of national sovereignty.

Persons: Javier Milei’s, Sergio Massa, CNN’s Abel Alvarado Organizations: CNN, Argentine, Cato Institute Locations: Washington decisionmakers, Ecuador, El Salvador, Argentina, Washington , DC

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