Business Matters

In Brazil, the new president is putting together a very different-looking cabinet to his predecessor - a much more market friendly one. His new finance minister is Henriques Meirelles, former head of the central bank. So what is the likely effect going to be on Brazil's wobbly finances? "Fantastically corrupt". That's how British prime minister David Cameron described Nigeria and Afghanistan earlier in the week. On Thursday he was hosting a global anti-corruption conference in London. Fifty states were represented at the summit, alongside banks, civil society organisations and the International Monetary Fund. Though delegates promised to make tackling corruption a top priority, the meeting led to few firm commitments. Just six countries agreed to publish registers of who really owns companies in their territories, a key goal of anti-corruption campaigners. So - just how much was achieved? St Louis, in Missouri, made international news two years ago because of race riots in the suburb of Ferguson. But it