Brazil’s Senate to Vote on Central Bank Head on Oct. 8
(Bloomberg) -- Brazil Senate President Rodrigo Pacheco has scheduled the vote on the new central bank governor for Oct. 8, according to the Senate website. The current Central Bank Monetary Policy Director Gabriel Galipolo was appointed by President Luiz Inacio Lula da Silva to succeed Roberto Campos Neto.
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The session will be held the week after the first round of municipal elections. The Lula administration tried to bring the vote forward to before the next interest rate decision this month. The rapporteur responsible for the nomination process will be the government leader in the Senate, Jaques Wagner.
X in Brazil
Brazil’s ban of Elon Musk’s social network, X, will have little impact on the business, which has long relied on the South American nation for user growth and cultural influence but less so for revenue.
Brazil has historically been a small part of X’s total business despite being one of the services’ largest markets in terms of users, according to several former employees, who asked not to be named while sharing private figures.
Annual revenue from Brazil was $80 million to $100 million in 2021, the last full year before Musk’s takeover, those people said. That amounted to about 2% of the company’s total sales.
SpaceX has cautioned its employees not to travel to Brazil amid an escalating feud between Musk and a judge in the Latin American nation’s top court that is spreading across the billionaire’s companies.
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