Business & Financiën
Bloomberg Businessweek

Bloomberg Businessweek 3/13/2017

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50 Edities

in deze editie

5 min.
the deficits in trump's future

Last April, lunching amid construction debris at his new hotel five blocks from the White House, Republican presidential candidate Donald Trump told the Washington Post he would get rid of the national debt “over a period of eight years.” It may have been the boldest promise he’s ever made, considering the U.S. hasn’t been debt-free since 1835. The debt at the time was more than $19 trillion, and rising. Trump predicted he could turn back the tide even though he thought the country was headed for a “very massive recession.” He promised to be rid of the national debt in eight years. Good luck with thatHis administration plans to balance the budget with what he says will be huge gains in economic growth Now that he’s in the White House (and his…

2 min.
germany should get with the ‘bad bank’

Some European regulators have come up with a viable plan to alleviate the chronic financial paralysis that affects the region. If only European politicians, particularly in Germany, would listen. The European Union’s leaders have spent much of the past decade debating—but never fully resolving—what to do about the huge pile of bad loans EU banks are sitting on, most recently estimated at more than €1 trillion ($1.06 trillion). Nobody knows how large the losses will ultimately be, and that uncertainty spooks investors, inhibits lending, and undermines the European Central Bank’s efforts to support economic growth. A group of officials at the European Banking Authority—with the support of colleagues at the ECB and the euro area’s bailout fund, the European Stability Mechanism—has put forth a proposal that could help: Create a publicly funded,…

2 min.
china’s chance to lead in south sudan

If South Sudan’s famine is man-made—and it is—then maybe man can unmake it. Given the country’s unstable government and the U.S.’s uncertain global leadership, however, most of the effort will have to come from China. More than 40 percent of South Sudan’s 11 million people don’t have enough to eat, not because of drought or other natural causes, but because of their country’s civil war, which started in 2013. Mayhem and disorder have taken tens of thousands of lives and forced more than 1.5 million to flee. The U.S. has been the biggest provider of assistance to South Sudan, but Donald Trump seems unlikely to sustain that commitment. Nikki Haley, the U.S. ambassador to the United Nations, is rightly questioning whether it makes sense for the U.S. to continue paying the lion’s…

3 min.

Ups • Facing greater competition from Amazon.com and others, Hewlett Packard Enterprise spent $1b to buy Nimble Storage. HP says the flash specialist will help it diversify. • Twelve years after dropping out as a sophomore, Facebook founder Mark Zuckerberg will finally get a Harvard degree. He will also deliver the university’s commencement address on May 25. • Adidas shares surged to a record high after the company posted a 41 percent increase in profit in 2016 and raised its forecast for earnings through 2020. Adidas seeks to double online sales and speed its supply chain to a fast-fashion pace. • Nike unveiled a sneaker designed to break the two-hour-marathon mark. The company says a springy carbon plate in the sole will boost a runner’s speed by 4 percent. • A sculpture by artist Kristen…

4 min.
where are all the tourists?

Foreign tourists may be showing their displeasure with President Trump by planning to take their holiday dollars elsewhere. According to Tourism Economics of Wayne, Pa., the U.S. can expect 4.3 million fewer visitors from abroad in 2017 from a year earlier because of anger and anxiety triggered by Trump, especially over his original ban of travelers from mostly Muslim countries. That translates into the loss of 62,000 jobs and $7.4 billion in revenue, says Tourism Economics, which analyzes data to predict and measure travel activity for clients in government and private industry. Since his first executive order on travel was struck down in court, Trump has revised the document, excluding Iraq from the list of banned countries, among other emendations. The new order will still likely trigger a fresh round of…

3 min.
beijing is mad about thaad

On the South Korean resort island of Jeju, about 85 percent of foreign visitors last year came from China. They piled into tour buses to see a botanical garden, a teddy bear museum, and a concert hall full of singing holograms, among other sites. That was before the U.S. on March 7 announced it had started deploying the Terminal High Altitude Area Defense system in South Korea. While Thaad is supposed to be a shield against North Korean missiles, China views it as a security threat. To show its displeasure, the China National Tourism Administration has ordered travel agents to stop selling tour packages to South Korea starting on March 15, according to the state-run Korea Tourism Organization. The impact of China’s actions is already being felt on Jeju. “We’ve seen about a…