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Venezuelan President Nicolás Maduro. Photo: Orhan Karsli / Anadolu Agency / Getty Images

Venezuela's National Electoral Council (CNE) announced a decision to delay its presidential elections — scheduled for April 22 — to May, as part of an agreement between the government and some opposition parties, the BBC reports. The new date hasn't been finalized.

Why it matters: Presidential contests are traditionally held in Venezuela in December, but the CNE announced last month that a snap election would be held in April after negotiations between the ruling Socialist Party and opposition politicians broke down. Per the BBC, critics believe that the move was an attempt to further divide an already-splintered opposition coalition to give President Nicolás Maduro an electoral advantage.

The backdrop: Maduro is running for a second six-year term. His tenure thus far has been marred by economic crises, food shortages and civil unrest, forcing thousands to flee the country. Concerns over Maduro's rule have prompted the Trump administration to consider whether to impose restrictions on Venezuelan crude oil exports and the exportation of U.S. refined products to the country.

  • Meanwhile, it's immediately unclear whether any opposition politicians will even run against Maduro. The main Democratic Unity coalition — Maduro's main opposition — launched a boycott of the vote following the snap election announcement. But Henri Falcón, an opposition member and former governor of Venezuela's Lara State, has announced his decision to run.

Go deeper

Federal Reserve expands lending program for small businesses

Federal Reserve Chairman Jerome Powell at a news conference in 2019. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve said on Friday it would again lower the minimum loan size for its pandemic-era small business program.

Details: Businesses and nonprofits will be able to borrow a minimum of $100,000 from the facility, down from $250,000 — a move that might attract smaller businesses that don't need as hefty of a loan. Since the program launched earlier this year, the minimum loan size has been reduced twice.

2 hours ago - Economy & Business

How Trump and Biden would steer the future of transportation

Illustration: Eniola Odetunde/Axios

President Donald Trump and Democratic challenger Joe Biden would likely steer automotive policy in different directions over the next four years, potentially changing the industry's road map to the future.

Why it matters: The auto industry is on the cusp of historic technological changes and the next president — as well as the next Congress — could have an extraordinary influence on how the future of transportation plays out.