Javier Milei’s push to dollarize the Argentine economy is in many ways a long shot. For starters, the political outsider still has to clinch victory in October’s presidential election. Once in office, he’d then have to overcome a slew of obstacles to scrap the peso as the country’s legal tender.
Latvia’s government signaled it would back away from a plan to strip permanent residency from Russian citizens after as many as 10,000 people risked expulsion from the Baltic nation for not meeting a language requirement.
The contraction of private-sector activity in the euro area intensified, leading investors to bet that the European Central Bank will pause its campaign of interest-rate hikes next month.
Sweden’s economy is facing two years of recession — more than previously thought — as rising costs force consumers to continue paring back spending into next year, according to economists at one of the country’s biggest lenders.
Turkish consumer confidence plunged the most since President Recep Tayyip Erdogan came to power almost 20 years ago, as a pivot toward more mainstream economic policies takes its toll on household finances.
During Monterey Car Week, Jim Farley discusses his “underdog” strategy for winning on the track and in the showroom.
UK private sector firms suffered their first contraction in seven months, revealing the growing economic toll of higher interest rates and the squeeze on households.
From his office just outside Los Angeles, Dominic Ng watched as California banks fell like dominoes — first crypto-friendly Silvergate Capital Corp. down near San Diego in early March, then Silicon Valley Bank up north days later, followed by San Francisco’s First Republic Bank at the beginning of May.
China must “come around” and reduce trade deficits with other developing nations to accelerate the use of local currencies, according to Anil Agarwal, the billionaire founder of India’s Vedanta Resources Ltd.
Axel Springer SE and Julian Reichelt, the former boss of its flagship tabloid Bild-Zeitung, settled a lawsuit over leaked information that emerged almost two years after he was fired over allegations of sexual misconduct.
