Monthly Archives: September 2015

VICE News

SÃO PAULO — Five years ago, the United States Supreme Court delivered a decision in the case of Citizens United v. Federal Election Commission that allowed corporations to devote virtually unlimited funds to political campaigns, provided that they were spent independently of candidates and political parties.

On Thursday, a ruling by Brazil’s Supreme Federal Court did the exact opposite, prohibiting businesses from financing campaigns in a move that has been hailed as crucial to the fight to rid Brazilian politics of rampant corruption.

Although touted by good governance advocates as vital to the fight against graft and malfeasance, others believe the development in Brazil will simply force campaign cash under the table.

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SÃO PAULO — Brazil ended a cycle of aggressive interest rate hikes Wednesday, in a bid to shore up Latin America’s biggest economy as it faces its worst recession in 25 years.

The central bank’s monetary policy committee, known as Copom, decided to hold steady Brazil’s benchmark Selic interest rate, after economists predicted creeping inflation may have peaked in August.

The rate was held after seven consecutive hikes.

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