Thursday, April 25, 2024

Can Argentina really move from the peso to the dollar?

Javier Milei won Argentina’s presidential election Sunday on a ticket to overhaul South America’s No. 2 economy and ditch its peso currency in favor of the US dollar. Will the Libertarian’s radical plans see the light of day? Milei’s La Libertad Avanza coalition won the election with nearly 56% of the vote, defeating the incumbent center-left Peronist party and its […]

US drive to make green jet fuel with ethanol stalled

The U.S. drive to develop sustainable aviation fuel (SAF) using ethanol could be slowed because of growing opposition to proposed pipelines that would curb greenhouse gas emissions from ethanol plants by capturing carbon dioxide and carrying it away to other states for storage. Ethanol industry players say the developments raise questions about future growth for […]

Hyundai plans to make 200,000 EVs a year in South Korea

Hyundai Motor has kicked off construction on a 2 trillion won ($1.5 billion) facility in South Korea that will be dedicated to manufacturing electric vehicles. The group, which owns the Hyundai and Kia brands, held the groundbreaking ceremony on Sunday in Ulsan, where the carmaker built its first assembly plant in 1968. The new factory […]

ECB pauses rate hike campaign as recession in Europe looms

The European Central Bank (ECB) held off raising interest rates Thursday for the first time in 15 months as evidence mounts of a deepening economic downturn in Europe and war clouds the outlook. The ECB voted unanimously to keep the benchmark interest rate in the 20 countries that use the euro at 4%, its highest level since the launch of the currency […]