Under Argentina’s New President, Fuel Is Up 60%, and Diaper Prices Have Doubled
World

Under Argentina’s New President, Fuel Is Up 60%, and Diaper Prices Have Doubled

Over the past two weeks, the owner of a hip wine bar in Buenos Aires saw the price of beef soar 73 percent, while the zucchini he puts in salads rose 140 percent. An Uber driver paid 60 percent more to fill her tank. And a father said he spent twice as much on diapers for his toddler than he did last month.In Argentina, a country synonymous with galloping inflation, people are used to paying more for just about everything. But under the country’s new president, life is quickly becoming even more painful.When Javier Milei was elected president on Nov. 19, the country was already suffering under the world’s third-highest rate of inflation, with prices up 160 percent from a year before.But since Mr. Milei took office on Dec. 10 and quickly devalued the Argentine currency, prices have soared a...
Red Sea Shipping Halt Is Latest Risk to Global Economy
Business

Red Sea Shipping Halt Is Latest Risk to Global Economy

The attacks on crucial shipping traffic in the Red Sea straits by a determined band of militants in Yemen — a spillover from the Israeli-Hamas war in Gaza — are injecting a new dose of instability into a world economy already struggling with mounting geopolitical tensions.The risk of escalating conflict in the Middle East is the latest in a string of unpredictable crises, including the Covid-19 pandemic and the war in Ukraine, that have landed like swipes of a bear claw on the global economy, smacking it off course and leaving scars.As if that weren’t enough, more volatility lies ahead in the form of a wave of national elections whose repercussions could be deep and long. More than two billion people in roughly 50 countries, including India, Indonesia, Mexico, South Africa, the United Stat...
Suit Against Twitter Over Unpaid Bonuses Gets Go-Ahead From Judge
Technology

Suit Against Twitter Over Unpaid Bonuses Gets Go-Ahead From Judge

A federal judge on Friday gave the go-ahead to a lawsuit against the social media company X, formerly known as Twitter, in which workers claim that the company promised but never paid millions of dollars in bonuses.In June, Mark Schobinger, a former senior director of compensation for Twitter who lives in Texas, sued the company, claiming breach of contract under California law. The company has its headquarters in San Francisco.Mr. Schobinger said that both before and after the billionaire Elon Musk bought Twitter last year, the company had orally promised employees 50 percent of their 2022 targeted bonuses if they stayed with the company in the first quarter of 2023. However, the bonuses were never paid, according to the suit.Mr. Schobinger filed the suit on his own behalf and on behalf o...
Golf with a purpose: How The Park dared to be different
Sports

Golf with a purpose: How The Park dared to be different

WEST PALM BEACH, Fla. — It’s lunchtime on a mid-November Saturday afternoon and the word of the day is eclectic. I’ve just finished my morning round at The Park with a three-putt for par on the forgiving 18th hole, and I saddle up at the cabana, the bar/small bites stand strategically located at the front of the property.A foursome that was a few holes ahead of me is heading off to their vehicles — while allowing for their anonymity, let’s just say they can be members anywhere they want to be in the golf-rich West Palm Beach/Jupiter area. Making the turn to the back nine are the bros wanting to chase down their transfusions with High Noons. Though they represent very different ends of the Saturday golfer spectrum, you recognize both groups as what a golfer “looks” like.But the cabana occup...
Bristol Myers to Acquire the Drugmaker Karuna for $14 Billion
Health

Bristol Myers to Acquire the Drugmaker Karuna for $14 Billion

Bristol Myers Squibb, the global pharmaceutical giant, said on Friday that it would acquire Karuna Therapeutics, which makes drugs to treat schizophrenia and Alzheimer’s, in an all-cash deal valued at $14 billion as it looks to strengthen its pipeline of neuroscience drugs.Bristol Myers said in a statement that it would pay $330 per share in cash, a premium of roughly 53 percent to Karuna’s share price on Thursday.An increasing prevalence of schizophrenia, driven in part by an aging population, has led to a push to make more drugs to treat it. The market for such therapies is estimated to grow to $12.6 billion by 2032, according to the research firm Market.Us. Earlier this month, the biomedical company AbbVie bought Cerevel Therapeutics, which develops drugs to treat psychiatric and neurol...
Israel-Hamas War Security Council: Latest Updates
World

Israel-Hamas War Security Council: Latest Updates

The U.N. Security Council adopted a resolution on Friday calling for a surge in aid to desperate civilians in Gaza and pauses in the fighting to deliver that aid safely, ending nearly a week of intense diplomatic wrangling intended to ensure that the United States would not block the measure.The vote was 13-0, with the United States and Russia abstaining. At U.S. insistence, the measure did not demand an immediate truce. Instead, it called for “urgent and extended humanitarian pauses and corridors” of unspecified timing and location, “to enable full, rapid, safe, and unhindered humanitarian access.”The United States, under pressure from Jerusalem to preserve Israeli inspections of aid, delayed multiple scheduled votes on the resolution as negotiators tried to work out a compromise and avoi...
Price Increases Cooled in November as Inflation Falls Toward Fed Target
Business

Price Increases Cooled in November as Inflation Falls Toward Fed Target

A closely watched measure of inflation cooled notably in November, good news for the Federal Reserve as officials move toward the next phase in their fight against rapid price increases and a positive for the White House as voters see relief from rising costs.The Personal Consumption Expenditures inflation measure, which the Fed cites when it says it aims for 2 percent inflation on average over time, climbed 2.6 percent in the year through November. That was down from 2.9 percent the previous month, and was less than what economists had forecast. Compared with the previous month, prices overall even fell slightly for the first time in years.That decline — a 0.1 percent drop, and the first negative reading since April 2020 — came as gas prices dropped. After volatile food and fuel prices we...
Substack Says It Will Not Ban Nazis or Extremist Speech
Technology

Substack Says It Will Not Ban Nazis or Extremist Speech

Under pressure from critics who say Substack is profiting from newsletters that promote hate speech and racism, the company’s founders said Thursday that they would not ban Nazi symbols and extremist rhetoric from the platform.“I just want to make it clear that we don’t like Nazis either — we wish no one held those views,” Hamish McKenzie, a co-founder of Substack, said in a statement. “But some people do hold those and other extreme views. Given that, we don’t think that censorship (including through demonetizing publications) makes the problem go away — in fact, it makes it worse.”The response came weeks after The Atlantic found that at least 16 Substack newsletters had “overt Nazi symbols” in their logos or graphics, and that white supremacists had been allowed to publish on, and profit...
No Hit League? The ‘lost art’ of body checking in the NHL
Sports

No Hit League? The ‘lost art’ of body checking in the NHL

Seventeen years and more than 1,200 games ago, Andrew Cogliano remembers how difficult it was to traverse the state of California.The Los Angeles Kings, Anaheim Ducks and San Jose Sharks were three of the biggest, heaviest teams in the league. If you had to play all three in succession? Well, good luck. Not only were those teams willing to play a punishing brand of hockey, but they were all highly skilled and generally successful, too.After a few years in Edmonton where he broke into the league, Cogliano was dealt to the Ducks as a free agent in the summer of 2011 and was part of a team that qualified for the playoffs in six straight seasons from 2012-13 through 2017-18. Those California road trips became regular intrastate battles. And they were vicious.“My first couple years in Anaheim, ...
Bellevue Hospital Bariatric Surgery Program Is Under NY State Scrutiny
Health

Bellevue Hospital Bariatric Surgery Program Is Under NY State Scrutiny

The New York State Department of Health is scrutinizing Bellevue Hospital’s use of unlicensed technicians to assist doctors in weight-loss surgeries.Bellevue, a large public hospital in Manhattan, churns thousands of low-income patients through bariatric surgery every year, The New York Times reported this month. Doctors are paid in part based on the volume of surgeries.In their push for speed, bariatric surgeons have at times asked equipment technicians to scrub in and participate in surgeries because the surgeons were short on assistants, two Bellevue doctors told The Times. Those technicians, who worked for an outside vendor called Surgical Solutions, were not licensed to treat patients.The state health agency has begun an inquiry into the allegations, which could lead to a formal inves...