Venezuela to slash six zeroes from currency

AFP

Venezuela will slash six zeroes off its inflation-battered currency the bolivar to make it easier to use, the central bank said on Thursday.

The change will take effect on October 1 with the issuance of new currency notes, called the digital bolivar.

“All monetary amounts expressed in national currency will be divided by one million,” the central bank of President Nicolas Maduro’s beleaguered leftist government said.

It said the goal of the change is to “facilitate” the use of the bolivar.

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It is the third time in 13 years that Venezuela — suffering the worst economic crisis in its modern era — has used such a measure.

In August 2018, the government lopped five zeros off its bank notes, having taken off three in 2008.

In 2018, the government replaced the ironically named strong bolivar with the sovereign bolivar.

The once-wealthy oil producer is enduring its fourth year of hyperinflation and its eighth year of recession.

From January through to May prices rose 265 percent.

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Inflation was almost 3,000 percent in 2020 and more than 9,500 percent the year before, according to central bank figures.

“It was an expected decision,” economist Cesar Aristimuno, director of Aristimuno Herrera & Associates, told AFP.

“By itself it was necessary … the billing and accounting processes for companies were already practically impossible.”

People had even resorted to using a shorthand for prices, saying “thousands” instead of “millions.”

There is such a shortage of bolivars that long queues are a regular sight outside banks.

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Transactions made in the local currency are usually done by card payment or bank transfer rather than in cash.

Inflation is so bad that the everyday economy now works mainly in dollars, with many stores listing prices in the US currency.

Back in May the government tripled the minimum monthly wage but the new amount was still not even enough to buy a kilogram of meat.

However, Aristimuno warned that while “convenient” this measure will not transform Venezuela’s battered economy.

“We cannot hope for economic miracles from this decision, taking into account that … it comes without any underlying economic announcements” that could reduce inflation or boost GDP.

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The Maduro government is under international sanctions championed by the United States, which is pushing for his ouster and does not recognize him as the country’s legitimate president.

With the currency overhaul, the central bank will issue new notes with face values of five, 10, 20, 50 and 100 bolivars and a one-bolivar coin, Communications Minister Freddy Nanez said on Twitter.

Luigi Mangione Pleads Guilty to Killing UnitedHealthcare CEO Brian Thompson

Luigi Mangione admitted Friday to fatally shooting Brian Thompson, the CEO of UnitedHealthcare, the largest health insurance group in the United States, during an appearance before a federal judge.

The case shocked the U.S. business community and dates back to December 2024, when Mangione opened fire on Thompson, 50, on a Manhattan street. Prosecutors have described the attack as being motivated by Mangione’s opposition to the U.S. health insurance system.

“On the morning of December 4, I shot Mr. Thompson in Manhattan and he died,” Mangione said as he pleaded guilty to a federal stalking charge related to his pursuit of the executive.

Mangione, 28, is scheduled to be sentenced on December 18, and prosecutors have indicated that they will seek a life sentence.

In addition to the federal charges related to stalking Thompson, Mangione also faces a murder case brought by the state of New York.

Following his guilty plea in federal court, Mangione’s defense asked a state court to dismiss the state charges, arguing that prosecuting him again for the same conduct would violate protections against double jeopardy.

“We have just filed our motion in state court to explain why the charges should be dismissed under New York’s protections against double jeopardy,” Mangione’s attorney, Karen Friedman Agnifilo, said Friday.

Both the federal and state cases could result in a life sentence. Two other federal charges that initially carried the possibility of the death penalty were dismissed by a judge earlier this year.

International

ICE Plan to Equip Agents With Electric Shock Gloves Raises Abuse Concerns

Plans to equip U.S. immigration agents with gloves capable of delivering electric shocks are raising concerns over potential abuses by a law enforcement agency that critics accuse of using excessive force and providing inadequate training to its personnel.

The plan involves the potential purchase of electric-shock gloves for agents with U.S. Immigration and Customs Enforcement (ICE), the agency primarily responsible for carrying out President Donald Trump’s campaign to deport millions of undocumented immigrants.

Democratic Representative Maxwell Frost criticized the proposal on X, arguing that the agency has already faced accusations of excessive force during immigration enforcement operations.

“As if assaulting and shooting people in the streets wasn’t enough,” Frost wrote. He also criticized the reported $20 million potential expenditure on the devices and called for greater restrictions on ICE.

The agency has faced growing scrutiny following a series of deadly shootings during immigration enforcement operations. Among the incidents were the deaths of two U.S. citizens in Minnesota in January who were participating in protests against the agency.

Critics have focused on the tactics used by ICE agents when detaining immigrants, as well as allegations that training standards for newly recruited personnel have been lowered.

According to a procurement plan first reported by the Associated Press, the Department of Homeland Security (DHS), which oversees ICE, could spend between $10 million and $20 million on the devices.

The gloves are described by the agency as tools intended for “distraction and de-escalation,” rather than lethal weapons. The system, known as GLOVE, stands for “Generated Low-Output Voltage Emitter.”

The device is manufactured by Compliant Technologies, a Kentucky-based company that describes its products as advanced non-lethal tools designed to protect and assist law enforcement and other personnel.

The proposal comes amid an intensifying national debate over ICE’s enforcement methods and the use of force during the Trump administration’s immigration crackdown.

International

Three U.S. Executions Set for Same Day as Trump Pushes to Expand Death Penalty

The death penalty has been abolished in 23 of the 50 U.S. states, while three others —California, Oregon and Pennsylvania— currently have moratoriums in place.

The United States is set to carry out three executions on the same day, a rare occurrence that has not happened since 2010, according to the nonprofit Death Penalty Information Center.

President Donald Trump has sought to expand the use of capital punishment for what he describes as “the most heinous crimes.” In April, the Department of Justice proposed expanding execution methods to include firing squads, lethal gas and electrocution.

Tennessee is scheduled to execute Anthony Darrell Dugard Hines, 66, on Thursday. He was sentenced to death for the 1985 murder of a woman, according to local media.

In Oklahoma, Carlos Cuesta-Rodríguez, 70, is scheduled to be executed for a 2003 murder.

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Meanwhile, Alabama plans to execute Jeremy Williams, 42, who was sentenced to death for the rape and murder of a five-year-old girl.

The United States carried out 47 executions in 2025, the highest number since 2009, when 52 executions were recorded.

Florida conducted the largest number of executions last year, with 19, followed by Alabama, South Carolina and Texas, with five each.

Of the executions carried out in 2025, 39 were conducted by lethal injection. Three were carried out by firing squad and five through nitrogen hypoxia, a method that involves forcing nitrogen gas into a face mask, depriving the prisoner of oxygen.

The United Nations has condemned nitrogen gas as a cruel and inhumane method of capital punishment.