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Bloomberg Businessweek

Bloomberg Businessweek 2/6/2017

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Get the digital magazine subscription today and draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

Land:
United States
Taal:
English
Uitgever:
Bloomberg Finance LP
Verschijningsfrequentie:
Weekly
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50 Edities

in deze editie

6 min.
trump vs. the rule of law

In October 2016, Anthony Scaramucci compared the U.S. Department of Labor’s fiduciary rule to Dred Scott v. Sandford, the 1857 U.S. Supreme Court decision protecting slavery and ruling that blacks couldn’t be citizens. “The left-leaning Department of Labor has made a decision to discriminate against a class of people who they deem to be adding no value,” said Scaramucci, a fund-of-funds marketer who was also an adviser and public supporter of Donald Trump’s campaign. And he said that, if elected, Trump would repeal the fiduciary rule. Many listened to Trump and cheerily assumed he’d do something completely different Trump, however, never said that during his campaign. Instead, he promised to ban Muslims from entering the U.S. Scaramucci tried not to think about this: “I’ll make a prediction right now that he will…

2 min.
donald trump heads for the war in syria

For almost half a decade, the world’s only superpower has mostly abdicated its role in helping to resolve the world’s most consequential conflict. Now Barack Obama’s excessive caution about Syria has given way to Donald Trump’s unstrategic uncertainty. Does this qualify as an improvement? It’s certainly good news that Russia has invited the U.S. to participate in Syrian peace talks, along with representatives from Turkey and Iran. But Trump—who claimed during the campaign to have a “foolproof” plan to defeat Islamic State quickly—will soon face some tough choices. He’s apparently open to creating a safe zone in northern Syria to protect Sunni Muslims and Kurds from the Syrian government, which seems likely to remain under President Bashar al-Assad’s control indefinitely. Carving out a protected area requires control of the skies above it,…

2 min.
the travel ban: unwise, un-american

Leave aside the moral, legal, economic, political, and practical objections and instead consider just the security implications of the executive order Donald Trump issued on Jan. 27: Will temporarily banning the entry of all refugees and nationals from seven countries make the U.S. safer? Regrettably and emphatically, the answer is no. First, if the goal is “Protecting the Nation From Foreign Terrorist Entry Into the United States,” as the order is titled, then it would make sense to focus on countries from which terrorist attackers have entered. The main countries that come close to fitting that bill (Egypt, Pakistan, Saudi Arabia) don’t make the list. Nor does the order convey any acknowledgment that refugees are the most vetted group of travelers to the U.S. That’s even more true after they apply for…

3 min.
movers

Ups The seventh iteration of the iPhone helped Apple break a three-quarter sales slump. A record 78 million handsets were sold in the last quarter of 2016, making up almost 70 percent of Apple’s revenue. Nintendo said its first mobile game, Super Mario Run, has rounded up $50m since going on sale in December. More than 78 million people have downloaded the game, though only 5 percent opted for the full version, which costs $10. President Trump picked Neil Gorsuch for the Supreme Court. A Denver-based federal appellate judge, Gorsuch has praised late conservative Justice Antonin Scalia and criticized the politicization of the court system. Pork belly prices surged 20 percent in January as U.S. supplies fell to their lowest point in 60 years. Bacon prices will fatten as a result. The American Civil Liberties…

5 min.
taxing mexico. or not

The Trump administration has floated two very different ways to get Mexico to pay for a wall on its northern border. One is called a border tax. The other is also called a border tax. Neither would get Mexico to pay for the wall. Got that? The clouds of confusion around President Trump’s wall-financing plan are thick, but we can at least lay out a few questions and answers about the two main concepts. What’s a border tax? One of the two “border tax” notions is just Trump’s coinage for what the rest of the world calls a tariff. It’s a tax on imports imposed at a certain rate on a certain product against a certain country—say, a 4 percent tariff on Belgian chewing gum. Tariffs were the biggest funding source of the…

4 min.
the wall needs the consent of many

To build his border wall, President Trump will first have to go through the second hole of the River Bend Resort & Golf Club in Brownsville, Texas. The course, on 135 acres, is so close to the U.S.-Mexico border that the Rio Grande keeps the fairway green, and Border Patrol agents congregate near the clubhouse to nab drug smugglers trying to slip through. “On some of these holes you can hit a power fade and your ball needs a passport because it goes into Mexico,” says Jeremy Barnard, general manager of the resort co-owned by his father, Mark. Along with a potential lack of concrete and documented construction workers, one of the main hurdles Trump will face is the use of eminent domain—taking land from private owners for public use. Federal…