Venezuela's Maduro hikes minimum wage as economy struggles

Venezuelan President Nicolas Maduro on Monday raised the minimum wage by 300 percent to 18,000 bolivars per month, around $6.70, as part of routine wage hikes in an economy suffering from annual inflation approaching 2 million percent.Maduro announced the move in a speech in Caracas.Sworn in for a six-year term on Jan. 10, Maduro has faced growing international sanctions since winning re-election last May in a vote widely considered fraudulent.