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Investors lock in profits as gold falls by more than 1%
Gold prices dropped more than?1% Wednesday, as investors booked profits following a recent rally. However, it did pare some losses after weaker-than expected U.S. job data increased bets on Federal Reserve rate reductions. As of 11:16 am, spot gold fell 1.1%, to $4,445.32 an ounce. ET (1616 GMT). Prices dropped as much as 1,7% to $4,422.89 in the earlier session. U.S. Gold Futures for February Delivery were down 0.9% to $4,456.10. David Meger is the director of metals trading for?High Ridge Futures. He said, "We view today's pullback as a general profit-taking after that recent surge." Meger said that the recent rise in gold prices has been attributed to the Fed's easing. U.S. employment openings declined more than anticipated in November, after increasing marginally in October. Separately, a report from?ADP showed that private payrolls grew less than expected for December. According to data compiled LSEG, the markets expect 61 basis point rate cuts in 2019. Now, the focus is on Friday's nonfarm employment report. Geopolitical uncertainty has persisted since the capture of Venezuelan President Nicolas Maduro over the weekend. U.S. president Donald Trump announced plans to refine and sale Venezuelan crude on Tuesday, while the White House confirmed separate discussions about the acquisition of Greenland, which included potential military involvement. According to official data, China's central bank increased its gold purchases for the 14th consecutive month in December. Meger stated that the data from China continues to show "strong demand from Asia" and is yet another reason for this recent surge to the upside. In low-rate environments, and in times of uncertainty, gold, which is a non-yielding asset, tends benefit. Silver lost?5%, falling to $77.26 an ounce. HSBC increased its average silver price forecast for 2026 to $68.25 citing tight supplies and strong investment demand. However, it warned about volatility if the supply constraints ease. The spot price of platinum fell 6.8% to $2277.75 while palladium dropped 5.6% to $1720.74. (Reporting and editing by Sahal Muhammad and Varun H. K. in Bengaluru.
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Sheinbaum: Mexico hasn't increased oil shipments from Cuba to Venezuela
MEXICO CITY. Jan. 7 - Mexican president Claudia Sheinbaum stated on Wednesday that Mexico was not sending more crude oil to Cuba than in the past, but that amidst recent events in Venezuela Mexico had become an "important" supplier of crude oil to Cuba. Sheinbaum's comments were made during her morning press conference, in response to the question of whether Mexico was now the primary oil supplier for Cuba following the United States blockade of oil exports from Venezuela since mid-December. "We are not sending more oil than we have historically." She said. "Ofcourse, with the current Venezuelan situation, Mexico has become an important supply, before it was Venezuela." He added that Mexico has been providing oil to Cuba for many years, and this is done in different ways, including as humanitarian assistance, under contract or sometimes as part of a contract. She replied that it was part of a contract, and part of aid provided in the past. Trump on Tuesday Unveiling a plan The U.S. has blocked Venezuelan oil exports, which could amount to up to 50,000,000 barrels.
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J.P. Morgan expects STOXX to upgrade Greek equity, with a potential inflow of nearly $1 billion.
Wall Street brokerage J.P. Morgan anticipates that European index provider STOXX will upgrade Greece from an 'emerging' market to a 'developed' market later this year. This would allow Greek stocks to be eligible for inclusion in Europe's leading equity indexes. STOXX is expected to complete its classification of countries in the first quarter, and announce an upgrade in April. J.P. Morgan, Athens shares will be eligible to join STOXX 600 & Euro STOXX Indexes. STOXX did not respond immediately to a comment request. J.P. Morgan expects that the passive?inflow of $962 million into Greek equity will come from banks such as National Bank of Greece and Eurobank. Alpha Bank, Piraeus Bank, and Eurobank are expected to receive the majority of these inflows. J.P. Morgan also expects Hellenic Telecom and Greece's largest utility, Public Power, to be included. In September, other index providers FTSE Russell S&P Dow Jones will also include Greek equities into their developed market indices. MSCI's most recent review stated that Greece did meet the economic development criteria but "did not satisfy the size and liquidity persistency requirements". J.P. Morgan anticipates that MSCI will add Greece to their watch list for an upgrade during the 2026 market classification review. Greece is recovering steadily from its debt crisis that began in 2009. It almost left the Eurozone before an international bailout. As a'sign of its comeback', the Greek government is repaying bailout loans and debts ahead of schedule. Some of the banks that had to be bailed-out during the financial crisis are now?fully privateised and have started paying dividends. The Athens Stock Index has risen more than 160% in the past 20 years. Reporting by Shashwat Chanhan and Johann M Cherian from Bengaluru, editing by Maju Sam
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Trump official: Venezuelan oil sales will begin immediately and continue indefinitely.
A senior Trump administration official said on Wednesday that Venezuelan oil exports to the United States will begin immediately, with an initial shipment of 30 to 50 million barrels. Trump announced a plan on Tuesday to refine and sell 50 million barrels (or more) of Venezuelan crude oil that had been?stuck in Venezuela due to the U.S. ban. Officials said that sanctions against Venezuela will be selectively eased to help facilitate?the supply and trade of Venezuelan crude oil and oil products on global markets. The sanctions against Venezuela will be eased selectively to facilitate the?supply and trade of Venezuelan crude oil and oil products on global markets. CNBC, the first to report the news, said that such?oil exported to the United States would have been routed to China before. Energy Secretary Chris Wright stated on Wednesday that the U.S. is looking to restore Venezuelan oil flow, deposit money in U.S. controlled?accounts, and create conditions to allow U.S. companies to enter Venezuela. Trump said over the weekend that the U.S. will "take control" after U.S. troops oust Venezuelan President Nicolas Maduro. This could allow U.S. companies to access the vast oil reserves of Venezuela. Venezuela produced as much as 3,5 million bpd during the 1970s. Mismanagement and limited foreign investment have led to a massive drop in production. It averaged around 1.1 million bpd per year last year. Reporting by Nilutpal Timsina, Kanjyik ghosh and Alistair Bell. Editing by Tomasz Janowski.
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Nestle recalls infant formula in Africa, Americas and Asia
Nestle has expanded its recall of certain batches of infant nutrition products beyond Europe. It now includes Africa, Americas, and Asia. Nestle recalled batches of SMA formula, BEBA formula, NAN formula, and Alfamino formulation because they may have been contaminated with cereulide. This toxin can cause nausea and vomiting. Health warnings have been issued in 37 countries including the majority of European states, Australia, Brazil and China. The recall puts more pressure on KitKat, Nescafe and its new CEO Philipp Navratil who is trying to restore growth with a portfolio review following management changes. Nestle shares are down 5.7% this week. The Brazilian health ministry stated?on Tuesday that the Nestle recall was a preventative action after the toxin was detected in products from the Netherlands. Nestle Australia stated that the batches it recalled were manufactured in Switzerland. Nestle China, on the other hand, said it was recalling formula batches imported to Europe. According to a notice issued by the National Consumer Commission of South Africa, the NAN?infant formulation being recalled is a product that was manufactured in June 2025. It has a shelf life of approximately 18 months. The commission also said that the product was exported to Namibia and Eswatini. Austria's Health Ministry said on Tuesday that Nestle had recalled 800 products or more from "more than 10 factories" and this was the largest recall in its history. Nestle's spokesperson was unable to confirm this. Nestle announced on Tuesday that they had tested the arachidonic oil and oil mixtures used to produce their potentially affected infant nutrition after a problem was found in an ingredient supplied by a major supplier. The company is ramping up its production and activating other suppliers to ensure a steady supply. Reporting by Alexander Marrow, Igor Sodre and Sfundo Parakozov in Sao Paulo. Editing by Alexander Smith & David Goodwin.
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US ETF provider launches first Venezuelan-focused fund following turmoil
A?U.S. A?U.S. ETF provider is seeking approval to launch?the first-ever?exchange-traded funds tracking companies exposed Venezuela. The U.S. capture over the weekend of President Nicolas Maduro sparked an asset rally. Teucrium, a Vermont-based company, filed a filing with the U.S. Securities and Exchange Commission for the launch on Teucrium Venezuela exposure?ETF. The ETF will track the stocks and depositary receipts for companies classified as Venezuelan, or that derive at least 50% revenue from this South American country or are based in major trading partners with significant exports into Venezuela. Teucrium's spokesperson said the company was working on the ETF "prior to recent events." According to VettaFi, the firm manages more than $518 millions?in assets, mostly in commodities and crypto. Since Monday, the local Bursatil index has risen more than 90% on a dollar basis. This is a continuation of the gains made since the end of 2025. The hope was that a post Maduro Venezuela would pave the path for potential debt restructurings and investments into its vast?reserves'of oil and minerals. Romain Bordenave is the emerging market debt and foreign exchange portfolio manager at Edmond de Rothschild Asset Management. "The recent move of local equities appears to be more of a sentiment trade, 'until clarity is achieved on macro policy and institutional credibility, as well as sanctions." Investors avoided Venezuelan assets in 2017 as the resource-rich country defaulted on its external debt due to severe U.S. sanction pressure. The popularity of ETFs has increased, particularly among retail traders. This is due to the availability of no-cost brokerages like Interactive Brokers and Robinhood, which make it cheaper and easier for them to trade. Reporting by Johann M Cherian in Bengaluru and Shashwat Chanhan; editing by Sriraj Kalluvila
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Nickel price could be at risk if Indonesian quotas are changed.
Nickel is not in short supply, according to inventories Nickel is used to make EV batteries, stainless steel and other products. Quotas set by the government a year earlier could not be maintained By Pratima Desai LONDON, JANUARY 7 - Indonesian plans to reduce nickel mining quotas in order to increase revenues have succeeded in "pushing nickel close to 19-month-highs" but analysts believe that pressure to revert policy will likely mean the rally is short-lived. Indonesia, the world's largest nickel producer, accounts for 70% of global production. This was estimated to be around 3.8 millions metric tons in 2013. Nickel prices have steadily risen by more than 30% since December when the government announced mining restrictions. This week they reached $18,800 per ton, the highest price since June 2024. Last trading was near $18,000. The rally's duration will depend on how long the government is able to keep lower quotas. Similar efforts a year earlier had limited success: the government announced in January 2025 that it would set aside quotas of around 200 million metric tons wet for 2025 but approved permits for almost 300 million?tons. Analysts predict industry pressure There will be pressure on them not to give in. Macquarie analyst Jim Lennon said that "a lot of projects are coming online?this" year. Cutting quotas is like telling Chinese companies that have built these factories, they cannot operate them. This would put a stop to any future investments. According to nickel industry sources, many new projects are expected to be completed in the second half. Indonesia may limit the RKABs (quotas) only for the first half of this year. They said that when production increases, the miners can reapply to higher quotas, and the government may grant more licenses. The owners of these nickel companies have always been close to the government. Tom Price, Panmure Liberum analyst, said that the government would backflip if they lobbyed like it did last year. Last year, nickel, which is used in electric vehicle batteries and the production of steel, made up about 12% Indonesia's exports. The industry directly and indirectly employs thousands and Chinese companies are still investing millions to increase their capacity. THE MARKET IS AMPLY SUPPLIED The market is not short of nickel, so traders do not expect the prices to rise despite Indonesian quotas. The stock of London Metal Exchange approved warehouses has increased by more than 300%, to 275.634 tons Since the beginning of 2025. The level of nickel off-warrant, or that which could be delivered to LME at 112,028 tonnes, is almost double what it was at the end October last year. (Reporting and editing by Barbara Lewis; Pratima Deai)
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Who is Trump's target?
After taking office, U.S. president Donald Trump continues to criticize and take action against corporate executives, institutions and corporations. His actions, from innovative export deals to freezing university grants, have upended the status-quo between government, law and academia. Trump has publicly attacked a number of influential individuals and entities. HILTON WORLDWIDE HOLDINGS Hilton has removed a Minneapolis-area hotel from its system after a Department of Homeland Security posted on X that the hotel operator had "impeded" law enforcement by refusing to accept bookings for Immigration and Customs Enforcement (ICE) agents. "We will remove this hotel immediately from our system." Hilton has always been an open and welcoming place, the company stated on X. After allegations of fraud against Somali immigrants, the Trump administration increased the number of police officers in Minnesota. NETFLIX Netflix has acquired Warner Bros Discovery’s film studios, streaming service and Warner Bros Discovery’s streaming arm for $72 billion. This gives Netflix control over one of Hollywood’s most iconic assets. After a lengthy bidding war, Netflix's offer of nearly $28 per share beat out Paramount Skydance, which made several unsolicited offers to purchase Warner Bros.?Discovery and its cable television assets. Donald Trump, the U.S. president, said that he would decide whether or not the proposed merger should go ahead. He cited concerns about the combined entity's market share. "That will be up to some economists... It is still a large market share. It's a big market share. GUNVOR CEO? TO STEP DOWN Gunvor, a global commodity trading company, announced that its CEO Torbjorn Tornqvist would step down and sell all of his shares in a management-led buyout. This comes after the U.S. labeled the firm as the "Kremlin’s puppet" because of its previous Russian connections. Earlier this month, the firm announced that Americas director Gary Pedersen will take on the top role. Pedersen was hired just last year by the company. In November, the U.S. Treasury sank Gunvor's largest ever deal for the acquisition of international assets owned by Russian oil giant Lukoil sanctioned by the U.S. Pedersen’s promotion coincides Gunvor’s efforts to improve its relations with the U.S. The firm has been in active discussions to invest in U.S. assets producing oil and gas in recent weeks. GOLDMAN SACHS Goldman's Economic Research arm published a report in August which stated that U.S. consumer had absorbed 22 percent of tariff costs up to June. If the latest levies continue the same pattern, their share may rise to 67 percent. Trump stated shortly after that "David Solomon, and Goldman Sachs, refuse to give credit when credit is due." In a post made on Truth Social. Trump claimed that "mostly, companies and governments, some of which are foreign, pick up the tab". Solomon's former hobby of DJing was also a target for Trump. Trump asked Intel CEO Lip-Bu Tang to resign in early August because of China ties. In April, it was reported that Tan had invested $200 million into hundreds of Chinese chip and advanced manufacturing firms, including some linked to the Chinese military. "The CEO at INTEL is very CONFLICTED, and must resign immediately. Trump stated in a Truth Social post that there is no solution to the problem. Tan replied to Trump by saying that he shared his commitment to the advancement of U.S. economic and national security, and that the Intel Board was "fully supportive" of the transformation work our company is doing. After a meeting with Tan, Trump praised him and the U.S. Government decided to buy a stake in this chipmaker. MICROSOFT Trump said in September that the tech company should fire its global Affairs president Lisa Monaco. Trump stated on Truth Social that "she is a threat to the National Security of the United States, especially in light of the large contracts Microsoft has with the United States Government." "I believe that Microsoft should terminate Lisa Monaco's employment immediately." Trump stated that Monaco's position at Microsoft would give her access to sensitive information. "This kind of access cannot stand," said Trump. Monaco, who joined Microsoft in July, worked as a security adviser in the former administration of former President Barack Obama and was the?deputy Attorney General in Joe Biden's Administration. Elon Musk, the billionaire CEO of Tesla's electric car company, spent hundreds of million dollars to support Trump's reelection. Investors who bid up Tesla's stock anticipated that this move would benefit Musk's empire. Musk and Trump, however, had a falling out in June, after Musk criticised Trump's tax-cutting and spending bill, claiming that it would increase the federal debt. Musk responded to Trump's comments on Truth Social by threatening to cut off federal contracts and subsidies to Musk's businesses. Trump also said that the billionaire had "gone CRAZY", after the bill was amended to remove the mandate for electric vehicles. JAGUAR LAND RIDER Trump criticised Jaguar's rebranding campaign in August. He called the campaign "woke", "stupid" and linked it to the departure of its CEO. Trump's remarks came at a time when Tata Motors announced that CEO Adrian Mardell would be retiring after more than 30 years with the company. Jaguar unveiled last year a new visual identity and logo as part of its brand refresh to reposition itself as an electrical automaker. This move drew harsh online criticism and backlash from brand loyalists. Trump has repeatedly threatened tariffs against Apple and its CEO, Tim Cook, over the sale of iPhones in the United States outside their country. After a meeting with Cook in Doha, the capital of Qatar in May, Trump remembered that he confronted him about Apple's plans to manufacture the majority of iPhones sold in America in factories in India by 2026. In a post on social media, Trump said he had told Cook "long time ago" "I expect that their iPhones will be sold in America, and not in India or anywhere else." Early in August, Trump announced that Apple would invest another $100 billion dollars in the U.S. This will bring its total commitment domestically to $600 billion within the next four-year period. Cook gave Trump an American souvenir made with 24-karat-gold base. AMAZON.COM Trump complained to Jeff Bezos, former CEO of Amazon.com in April about a report that stated the company would display the prices to show the impact tariffs have on the ecommerce retailer Amazon.com. Amazon, however, said that it only briefly considered charging import fees for certain goods following Trump's announcement of tariffs in April, but abandoned the plan after the White House accused Amazon of a hostile political act. Trump told reporters later that Bezos "very quickly" solved the problem and was "very nice". BANK OF AMERICA & JPMORGAN CHASE In August, Trump claimed that JPMorgan CEO Jamie Dimon and BofA CEO Brian Moynihan discriminated against him. He had earlier said that they didn't provide banking services for conservatives. In a video speech at the World Economic Forum, Trump stated, "What you are doing is wrong." In a question and answer session with CEOs and corporate leaders assembled on stage, Trump did not provide any evidence of wrongdoing. Dimon, the CEO of JPMorgan Chase was also mentioned. "You, Jamie and everyone, I hope you are going to open your bank up to conservatives." Both lenders have repeatedly denied allegations of "debanking." WALMART Trump stated in May that Walmart,?China and American consumers should "eat tariffs" to avoid burdening them. This was after Doug McMillon had said that the retailer couldn't absorb all tariffs-related costs due to narrow retail margins. Walmart should STOP blaming tariffs for the price increases across the chain. Walmart made BILLIONS of DOLLARS in the last year. This was far more than anticipated, Trump wrote on social media. Trump didn't call McMillon out personally but he did publicly criticize Walmart for attributing the price increases in May to tariffs that his administration imposed. CRACKER BAREL A retail chain was blindsided by an unexpected reaction when it changed its logo to remove the image of a man in overalls known as "Uncle Herschel", leaning on a barrel. Cracker Barrel announced in late August that it would stick with its decades old logo and scrap plans for a brand new one after social media backlash. This included criticism from U.S. president Donald Trump. "Congratulations Cracker Barrel on changing your original logo. "All of your fans are very appreciative," Trump said after the company reversed its decision on Truth Social. COMCAST Trump criticised Comcast's cable news network MSNBC over its coverage of his government. Trump told reporters that MSNBC was changing its name to MS NOW because the network's owners were ashamed. Trump called Comcast "weak, ineffective and headed by Brian Roberts" last week. SMITHSONIAN INSTITUTION In anticipation of the U.S. 250th Anniversary, the White House announced that it would lead an internal review for some Smithsonian Museums and Exhibitions. Declaration of Independence. In an executive directive issued in March, Trump stated that the institution was under the influence of "racist, divisive ideology" over the past few years. HARVARD UNIVERSITY Trump has targeted the oldest and richest American university. He has cancelled about $2.5 billion in federal grants, and is mounting efforts to stop research funding for Harvard. This is part of a larger campaign to change U.S. Universities, which Trump claims are gripped with antisemitic, "radical-left" ideologies. We are going to remove Harvard's tax exemption status. "It's what they deserved!" In May, Trump posted a message on his social media platform. Trump announced on September 30, that his administration is close to a deal, which would include a payment of $500 million by Harvard University. This comes after months spent negotiating over school policies. COLUMBIA UNIVERSITY The Trump administration announced in March that it would cancel $400 million of federal funding for Columbia University because of how the university handled protests last year. This is just the beginning of many arrests to come. "We know that there are many more students at Columbia University and other Universities in the Country who have engaged pro-terrorists, antisemitic and anti-American activities, and the Trump Administration won't tolerate it," Trump wrote in a post on social media. These comments were made after the arrest Mahmoud Khalil, a Palestinian graduate who was a major participant in the protests. In July, the University announced that it would pay the U.S. Government?over 200 million dollars in settlement with Trump's Administration. LAW FIRMS Trump issued an executive order in March that restricted access to federal facilities and suspended security clearances of its employees due to their ties with Hillary Clinton and DEI policy. Trump said that it was an "absolute honor" to sign the order. Trump had also issued a similar order in March against the New York law firm Paul, Weiss, Rifkind, Wharton & Garrison, which he subsequently retracted after reaching a settlement. In February, the law firm Covington & Burling was confronted with Trump's Presidential Memorandum, which suspended all security clearances of Peter Koski, and Covington employees, who had assisted former Special Counsel Jack Smith in prosecuting Trump. Covington has said that it will continue to represent Jack Smith in spite of these measures. Trump said, "We will continue to hold those who are responsible for weaponizing government and who supported this accountable." THE NEW YORK TIMES PENGUIN RANDOM HOUSE Trump has filed a $15 billion lawsuit for defamation against the New York Times, and Penguin Random House as part of his legal assault on media giants he claims have treated him unfairly. THE WALL STREET JOURNAL Trump filed a lawsuit against the Wall Street Journal, its owners and Rupert Murdoch for at least $10 Billion in July over the newspaper's claim that his name appeared on a 2003 greeting to Jeffrey Epstein which included a sexually explicit drawing and references to secrets that they shared. (Reporting by Deborah Sophia, Juveria Tabassum, Niket Nishant, Shivansh Tiwary, Savyata Mishra, Kritika Lamba, Arsheeya Bajwa, Zaheer Kachwala, Puyaan Singh, Pooja Menon, Dharna Bafna and Anshuman Tripathy in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur)
Machado, Maduro's opponent, vows to return and wants elections
Maria Corina Machado, Venezuela's principal opposition leader, has promised to return to Venezuela as soon as possible. She praised U.S. president Donald Trump for toppling Nicolas Maduro her rival and declared her movement prepared to win an election free of charge.
"I plan to return to Venezuela as quickly as possible," said Machado. Machado is a 58-year-old lawyer and mother of three who fled Venezuela in October in disguise to accept the Nobel Peace Prize. She dedicated it to Trump.
She told Fox News late Monday that she believed the transition should continue. "We won an election in?2024, by a large margin under fraudulant conditions. We will get over 90% of votes in free and fair elections.
Machado stated that she hadn't spoken to Trump since the Nobel Prize was announced on October 10. He said that the United States must help Venezuela resolve its problems before holding new elections.
We must first fix the country. It's impossible to hold an election. Trump said that there was no way people could vote.
VENEZUELA IS STILL RULED BY SOCIALISTS AND PARTY LIYALISTS
Machado, in her first interview since Maduro's capture by the U.S. last weekend, did not reveal her location, nor any details about her plans to return to Venezuela where she is wanted for arrest, and Socialist Party supporters remain at power.
Trump's lack of support for Machado has disappointed opposition activists as well as the diaspora, which is one fifth of Venezuelans who left the country during the economic collapse under Maduro or his predecessor Hugo Chavez.
Trump, the opposition and some international observers believe that the opposition lost the 2024 elections, in which Machado had been banned from running and an ally was chosen instead. However, Trump says she does not have support in Venezuela.
The?U.S. The?U.S.
Machado stated that Delcy Rodriguez is "one of the principal architects of torture and corruption." Machado said that Delcy Rodriguez is a "main ally, liaison, and agent of Russia, China and Iran. She's not someone who can be trusted by investors from around the world, and she has been rejected by Venezuelans."
GRATITUDE AND THANKS TO TRUMP
Machado has been a 'full-throated' defender of Trump. She said she would personally award him the Nobel prize.
"He has proved to the world what his means. "January 3rd, will be remembered as the day that justice overcame a tyranny", she said about Saturday's raid in Venezuela.
"I want to express today, on behalf of Venezuelans, our gratitude for his courage and the historical actions that he took against this narco terrorist regime. It's an important step in the direction of a democratic transformation."
Machado said that Venezuela, with the world's largest oil reserves and the U.S., as its principal ally, would become the hub of energy in the Americas. It would also restore the rule of law, establish open markets, return exiles to their homelands and offer security for foreign investment.
Sources said that for now, Trump was told by the CIA, that Rodriguez and senior officials?from Maduro’s government are best suited to maintain stability.
The government has ordered the arrests of those who have collaborated in the capture of Maduro. In a sign that the atmosphere is tense in Venezuela, fourteen journalists were briefly detained on Monday while covering events in Caracas.
Video footage verified by shows shots fired into the night skies in Caracas. A Venezuelan official claimed that this was done by police to discourage unauthorised drones.
In a message to reporters, Simon Arrechider, vice minister of communication, said: "There was not a confrontation. The entire country is calm."
MADURO PLEADS NOT GUILTY IN NEW YORK ?COURT
Maduro, who is 63 years old, denied the charges of narcotics on Monday. He claimed to be a "decent person" and that he was still President of Venezuela, while shackled around the ankles in orange and beige prison garb.
Cilia Flores pleaded guilty to being captured with him. The next court date is March 17,
Maduro faces four criminal charges: narcoterrorism, cocaine importation conspiracies, and possession of machine guns and destructive devices.
He has denied these allegations for years, claiming they are a ruse to hide imperialist intentions on Venezuela's oil resources.
Venezuela is the country with the largest oil reserves in the world - 303 billion barrels of heavy crude, mostly in the Orinoco area. The sector has been declining for years due to mismanagement, lack of investment and the?U.S. The sanctions have resulted in a 1.1 million barrels per day average last year. This is a third less than the output of the 1970s.
Maduro's Vice President, Rodriguez, was sworn in to be the interim leader. Officials in Caracas are torn between angered defiance and possible cooperation with Trump who has threatened a military strike again if they do not please him.
Russia, China, and Venezuela's socialist allies have condemned Trump's actions. It is the largest U.S. invasion in Latin America since 1989's invasion of Panama. Legal experts have questioned the validity of this action, and many allies are calling for adherence to international law and dialogue.
Trump said that the U.S. now controls Venezuela and is working with private companies to revive the oil industry. (Reporting and writing by Bureau worldwide, editing by Timothy Heritage).
(source: Reuters)