The Latest Business News: Spending Review, Caged, Campos Neto, Nvidia's Revenue, and More Highlights

Spending Review

In an effort to control public spending, the Brazilian government is reviewing its budget. The review aims to identify areas where cuts can be made without compromising essential services. The government hopes to reduce spending by 20 billion reais ($3.8 billion).

Caged

The number of formal jobs created in Brazil in August was 283,073, according to data from the Caged survey. This is the highest number of formal jobs created in a single month since the beginning of the pandemic. The data suggests that the Brazilian economy is recovering from the pandemic.

Campos Neto

Roberto Campos Neto, the president of the Central Bank of Brazil, said that the bank is committed to bringing inflation back to its target of 3.5%. The bank has raised interest rates several times in recent months in an effort to curb inflation. Campos Neto said that the bank will continue to raise interest rates if necessary.

Nvidia's Revenue

Nvidia's revenue for the second quarter of 2023 was $8.29 billion, up 4% year-over-year. The company's gaming revenue grew 3% to $3.62 billion, while its data center revenue grew 61% to $3.81 billion. Nvidia said that the growth in its data center business was driven by strong demand for its artificial intelligence chips.

Other Highlights

* The Brazilian real has strengthened against the US dollar in recent weeks. * The Brazilian stock market has also risen in recent weeks. * The Brazilian economy is expected to grow by 2.5% in 2023, according to the International Monetary Fund.