Business & Financiën
Bloomberg Businessweek

Bloomberg Businessweek September 23, 2019

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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Bloomberg Finance LP
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50 Edities

in deze editie

2 min.
in brief

Israel faces political paralysis after the second general election this year ended in stalemate. Neither Prime Minister Benjamin Netanyahu nor his rival, former military chief Benny Gantz, managed to win the minimum 61 seats required to form a majority government, forcing both to attempt to form coalitions. General Motors suffered its first strike from the United Auto Workers in a dozen years, in a battle over jobs and benefits. The dispute may cost the U.S. carmaker about $50m a day in earnings before interest and tax, some analysts estimate. ▷ 44 Saudi Arabia displayed what it said was a misfired cruise missile used in a Sept. 14 attack against one of its huge refineries. Though Yemen’s Houthi rebels claimed the assault, the U.S. alleged that Iran was behind it. ▷ 10 “I’m afraid that…

1 min.

▶ Flying the Climate Activist Flag United Nations Secretary-General António Guterres hosts the Climate Action Summit in New York on Sept. 23, urging governments and companies to do more against global warming. Swedish youth activist Greta Thunberg sailed across the Atlantic in a carbon-neutral boat to attend. ▶ On Sept. 26, Banxico, Mexico’s central bank, publishes its rate decision. Borrowing costs are forecast to ease from 8% by the end of the third quarter. ▶ The U.K. Conservative Party Conference starts on Sept. 29, just about a month before Prime Minister Boris Johnson wants to extract his country from the EU. ▶ Uber’s London operating license expires on Sept. 25. The company has sought to improve service in one of its key markets to get the permit renewed. ▶ Austrians elect a new government…

2 min.
get real on immigration

Almost every Democratic presidential candidate has fulsomely blasted Donald Trump’s policies toward asylum seekers. They’ve also pledged to provide a path to citizenship for Dreamers—the 700,000 or so undocumented youths currently protected from deportation—and the larger undocumented population of 11 million. What most haven’t done, however, is explain how they plan to fix an immigration system badly in need of reform. As the 2020 campaign intensifies, this should become an urgent priority. Trump’s cruel and counterproductive treatment of asylum seekers indeed deserves condemnation, but the 25,000 or so individuals granted asylum each year for the past two decades represent only about 2.5% of green cards awarded annually. Likewise, any resolution for the undocumented must keep faith with the almost 4 million legal would-be immigrants who have been waiting their turns, many…

9 min.
holding the world economy hostage

Sun Tzu, the author of the 2,500-year-old The Art of War, is overquoted, but even in ancient China he knew the value of asymmetrical warfare—how smaller forces, such as guerrillas or today’s drones, possess advantages over huge ones, like standing armies or zillion-dollar fighter jets. He also knew to provide a battered opponent an escape, advising the conquering side to “leave an outlet free. Do not press a desperate foe too hard.” Both of those lessons are on display in Iran. President Trump’s “maximum pressure” strategy has weakened Iran and hobbled its economy as intended. But it’s also made that country more dangerous, pushing it to strike back in unconventional and hard-to-counter ways, with its leaders rejecting a return to talks while their backs are up against the wall. Since Trump withdrew…

9 min.
take another little piece of my art now, baby

Most Monday mornings, a cheery cabal of Hollywood-area music makers meets at a private club on the beach in Malibu. They call themselves the Composers Breakfast Club, and in recent months, over smoked salmon and fresh fruit, they’ve grappled with one of the biggest threats facing their vocation: a tsunami of copyright infringement lawsuits that has many of them worried they’ll be the next ones forced to pay out millions of dollars for stealing a catchy riff. In the composers’ eyes, infringement claims have gone too far. At one breakfast in July, they reenacted the 2015 copyright trial in which a jury found Pharrell Williams and Robin Thicke had ripped off Marvin Gaye’s Got to Give It Up for their hit Blurred Lines, resulting in a $5.3 million judgment. The tongue-in-cheek…

4 min.
exxon goes deep in brazil

In November 2010, Exxon Mobil Corp. dispatched workers to a platform off the coast of Brazil, hoping to strike oil in one of the energy industry’s most anticipated drilling programs. About 2,300 meters (1.4 miles) below the surface, they bored into the sea floor, drilling down more than 2 miles over the course of almost two months before coming up dry. It was Exxon’s third dry hole in the area in just over two years. Defeated, the company abandoned exploration in Brazil. Now, seeing the success others are having there—and running into trouble elsewhere—Exxon’s back. In an industry shifting toward renewables, Exxon is betting on Brazil as part of a $200 billion, seven-year capital-spending plan that’s remarkably large and focused on fossil fuels. A string of setbacks with projects in Canada,…