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Bloomberg Businessweek

Bloomberg Businessweek 4/24/2017

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.

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United States
Taal:
English
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Bloomberg Finance LP
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Weekly
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50 Edities

in deze editie

7 min.
what to do about the koreas

Rolling a painted mock-up of an intercontinental ballistic missile across a Pyongyang plaza before 100,000 cheering regime loyalists is a lot different from sending the real thing across the Pacific. North Korean scientists do know the difference. They’ve been slowly learning about the challenges posed by aerodynamic stresses, unstable rocket fuel—and possible U.S. cybermischief. So President Kim Jong Un’s April 15 dud launch, no matter what caused it to sputter, surely taught his engineers something. Failures often do. That’s why they test again and again, despite the complaints and threats of the country’s neighbors and the U.S. The North plans weekly missile tests, a top official said on April 17. This obduracy is why Pyongyang has come this far—and why the world is stuck with this crisis. No good U.S. military…

2 min.
would you pay for your online privacy?

More than 70 percent of the public across political parties oppose a bill Donald Trump signed that rolls back rules protecting online privacy. It’s an issue, however, on which he and the Republican Congress happen to be mostly right. The rules in question, which hadn’t yet come into effect, would have required broadband providers to ask customers’ permission before collecting personal data for use in selling ads. That sounds sensible. In reality, it most likely would have raised prices for consumers without doing much to protect privacy. The public’s support for these rules points to a central confusion about the $83 billion market for digital advertising. To begin with, it’s an error to think that broadband carriers, as gateways to the internet, have a uniquely intrusive view of their customers’ habits. Web…

2 min.
a gag rule won’t narrow the pay gap

Paying women less than men isn’t only unfair but also counterproductive. Women and men alike prefer to work for—and work harder for—companies that pay equally. Yet women who hold down the same jobs as men still generally earn less. So it makes sense to continue to try to close the gap. But one effort that’s becoming popular in some cities is heavy-handed: prohibiting companies from asking job applicants about their previous salaries. Such salary questions, the thinking goes, keep the pay gap alive by ensuring that when a woman changes jobs, her unequal paycheck will follow her. If prospective employers can’t ask anyone what they used to make, then they have no choice but to pay according to what the job warrants. There’s no data, however, to suggest that a ban on…

3 min.
movers

Ups “This is already a victory for the ages. We have defied the odds.” • Democratic congressional candidate Jon Ossoff, after falling just short of the votes required to win a special election in a traditionally Republican-held House seat in Georgia. The documentary filmmaker heads for a runoff on June 20. • Vietnam unveiled plans to privatize Sabeco, the country’s largest brewer. With Saigon Beer and 333, the company has roughly half the country’s beer market. • China’s economy grew 6.9 percent in the first quarter, as production at steel plants and gadget factories accelerated. China’s data, however, has been so steady, some economists question whether authorities are fudging the numbers. • PetSmart agreed to buy Chewy for $3.4 billion, a record for an e-commerce company. After just six years in business, Chewy garnered $900…

4 min.
the curse of zombie inc.

Not one of the almost 4,000 publicly traded companies in Japan filed for bankruptcy protection in the fiscal year that ended in March. Shinzo Abe has touted the decline in business failures as proof the country’s economy is reviving. But where the prime minister sees signs of life, dubious critics see zombies—that is, failing companies that keep staggering along thanks to easy credit, even when they can’t keep up with interest payments. Zombies stand in the way of a process the Austrian economist Joseph Schumpeter described as “creative destruction”— the messy churn by which capitalism reinvents itself, with the death of aging, unproductive companies making room for startups. “When no old companies go out of business, new ones can’t come in,” because markets get overcrowded, says Martin Schulz, an economist…

4 min.
in turkey, new powers won’t fix old problems

Following a narrow victory in an April 16 referendum on expanding his powers, Turkish President Recep Tayyip Erdogan greeted supporters with a fiery speech aimed at critics abroad who questioned the validity of the results. “We don’t care about the opinions of any Hans, George, or Helga,” Erdogan told an ebullient crowd at Bestepe, his sumptuous presidential palace in Ankara four times the size of Versailles. “All debates about the referendum are now over.” In the campaign, Erdogan had said approval of the plan to amend 18 articles of the constitution would give him the clout needed to put the ailing economy back on track and tackle an array of diplomatic challenges. Yet the result is likely to aggravate those concerns by scaring away foreign investors and complicating relations with Europe,…