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Bloomberg Businessweek

Bloomberg Businessweek 7/31/2017

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

4 min.
in brief

Asia ● India has built just 214,560 homes in the past two years, well off the pace necessary to meet Prime Minister Narendra Modi’s stated target of 50 million by 2022. ▷ 35 ● Public support for Japanese Prime Minister Shinzo Abe has plummeted to its lowest level since he took office. He’s been accused of cronyism for allegedly directing government backing to a veterinary college created by a close friend. Abe denies wrongdoing. ● A Vietnamese court sentenced blogger Tran Thi Nga to a nine-year prison term for “propaganda against the state” after she criticized the government’s handling of a toxic waste spill at the Formosa steel plant in Ha Tinh province. ● In as little as one year, North Korea could develop missiles able to reach the U.S., American intelligence agencies say. Previously,…

5 min.
the importance of being idle

Gina McIntosh was born in France to Italian parents, is married to a Canadian, and runs a bed-and-breakfast in Saint-Saturninlès-Apt—about an hour-and-a-half drive north of Marseille—that caters to travelers from all parts of Europe as well as South Africa, Australia, and the U.S. So she knows a thing or two about different nations’ attitudes toward time off from work. Nobody, she says, takes vacations as seriously as her fellow French: “French people, for sure, they take their vacation in August. That’s not even a question. You can’t touch the vacation of French people. That’s part of their right. They fought for it. It is something that is very engraved in the rights of the French people.” Americans are … different. Sure, they dig their toes in the sand every summer, but…

2 min.
how to make lawsuits work for consumers

Congressional Republicans and the Consumer Financial Protection Bureau are clashing over a question that has implications far beyond the world of finance: How far can companies go to protect themselves from customer lawsuits? Neither side has gotten the answer quite right. If you’ve ever signed up for a credit card, you’ve most likely skipped through the boilerplate contracts that are at the center of the controversy. The dry language of the documents is mostly concerned with commercial terms such as interest rates and fees. These standardized conditions facilitate trade and save everyone time and money. Increasingly, though, the agreements have been including something else: a clause requiring consumers to resolve disputes in private arbitration, not in court. In some markets the practice has become so ubiquitous that customers no longer have a…

6 min.
china’s elusive goal: a global apparel brand

Founded in the 1970s by rural tailor-turned-billionaire Gao Dekang, Bosideng International Holdings Ltd. grew into China’s largest maker of down coats and the manufacturer of down apparel for top international brands including Adidas and Columbia Sportswear. How successful was it? By 2012, Bosideng was producing 450 million ducks’ worth of down jackets annually, and its own branded garments were sold in more than 10,000 stores across China. Given that success, its executives figured that selling high-end outerwear, plus a menswear line, under its own brand in London and New York would be a breeze. So in 2012 the company opened a richly decorated £35 million ($46 million) store on a prime corner near London’s Oxford Street—intended to be the first of several foreign outlets—and waited for international customers to come…

7 min.
these cigarettes are smokin’

American Indians introduced tobacco to the rest of the world centuries ago, and the nicotine-laden herb remains an important part of their culture and religious ceremonies. It’s also key to the commercial success of Grand River Enterprises, a company dominated by two Mohawk men on the Six Nations of the Grand River Reserve in Ontario, Canada. GRE manufactures Seneca and other brands of cigarettes at a sprawling plant on the reserve in Ohsweken. They’re sold at smoke shops there and through distributors who market them across Canada, the U.S., Central America, and even Germany, where that nation’s armed forces have bought them for their personnel. There’s only one problem with this highly visible example of indigenous people’s success: taxes. Because of Canadian and U.S. laws that give the Canadian tribes First…

4 min.
st. louis loses favor with plaintiffs

“It’s going to be tougher for plaintiffs. … Judges are going to read the Supreme Court decision and force them back to where they came from” Quick trials, big verdicts favoring consumers, and a state law that allows nonresidents to easily join mass litigations made St. Louis a destination of choice for attorneys going after companies that do business nationwide. Those days may be over, and drugmakers such as Bristol-Myers Squibb Co. and Johnson & Johnson couldn’t be more relieved. The U.S. Supreme Court in June struck a blow against so-called litigation tourism, ruling there has to be a connection between the forum and the specific claims at issue. In an 8-to-1 ruling, the top court said almost 600 people who claimed they were injured by the blood-thinning drug Plavix couldn’t sue…