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Bloomberg Businessweek

Bloomberg Businessweek 12/11/2017

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
Bloomberg Finance LP
50 Issues

in this issue

5 min
modi takes a local road to reform

India’s Bharatiya Janata Party now controls 18 of 29 states, collectively representing about 60 percent of the nation’s gross domestic product. It’s a record for Prime Minister Narendra Modi’s party and may help put an end to decades of fighting between the central government and provincial chief ministers. It also could be a boon for business if erratic local policies (and officials) don’t get in the way. While Modi’s lack of a majority in the upper house of Parliament hinders his ability to implement change at the federal level, the BJP’s state-level victories give him the chance to speed up structural reforms geared at creating a more even playing field across India—a country that, to the frustration of many investors, is a crazy quilt of local laws and regulations. On July…

3 min
in brief

Americas ● The Trump administration slashed the size of two national monuments in Utah, breaking up what remains into five smaller monuments. Together, the Bears Ears and Grand Staircase-Escalante areas will lose about 2 million acres to potential development. ● Canada scrapped a plan to buy 18 Boeing fighter jets, according to reports. The decision escalates a long-running trade dispute with the company. The country will buy older Boeing planes from Australia instead. ● Wildfires in the Los Angeles area quickly covered tens of thousands of acres, destroying thousands of structures by the morning of Dec. 6. ● Representative John Conyers Jr., Democrat of Michigan, resigned on Dec. 5 after several former employees accused him of sexual harassment. The next day, attention shifted to Senator Al Franken, Democrat of Minnesota, after Democratic senators, led by…

5 min
robert mueller may have just made sure that even if he gets fired, his investigation will live on

“Any rational prosecutor would realize that in this political environment, laying down a few markers would be a good way of fending off criticism” The Dec. 1 plea deal struck with President Trump’s former national security adviser, Michael Flynn, marked a big step forward in Robert Mueller’s Russia investigation. It may also have provided some protection for Mueller against being fired by the president—and helped ensure that his probe will continue, even if one day he’s not leading it. Flynn pleaded guilty to one count of lying to federal agents about his communications with the Russian ambassador last December. Given the other potential crimes that Flynn may have committed, including his failure to disclose that he was being paid millions of dollars by a Turkish company while serving as a top official…

7 min
iran’s sanction-buster in istanbul

Looking nervous and somber, the FBI’s star witness entered from the lockup and shuffled across the New York federal courtroom in a beige prison smock. The Turkish-Iranian gold trader took a seat at the witness stand for the hearing on Nov. 29, the second day of testimony in a money laundering and sanctions-evasion case brought by the U.S. government. Asked to state his name, he said he was Reza Zarrab. Not long ago, Zarrab’s life might have fit the description of a James Bond villain’s—he glided around Istanbul with his pop-star wife in Aston Martins and Range Rovers, flew on private planes, and sported around the Aegean with his own jetpack and submarine. He liked to carry a gold-plated pistol and kept an office at Trump Towers Istanbul. That all came…

4 min
bartender, i’ll have a g&t. hold the gin

As hipsters rediscover classic cocktails like the Sidecar, their teetotaling friends are stuck with cola, water, or such treacly confections as the Shirley Temple. After one too many mocktails at pubs, Ben Branson decided to create a nonalcoholic alternative to booze that didn’t taste like it was made for children. Turning to The Art of Distillation, a spirits-making guide first published in 1651, the former branding consultant began experimenting in his kitchen in a cottage near London. The result: Seedlip, a ginlike drink that aims to deliver the depth of flavor and mouthfeel of a high-end spirit—but with no alcohol. Introduced two years ago, Seedlip is riding the wave of interest in more healthful artisanal food and drink that’s boosting sales of everything from quinoa to craft beer to premium tonic.…

4 min
software to fireproof wine

As helicopters rescued people and their pets off Atlas Peak in Napa, Calif., one night amid October’s fires, Christian Palmaz was nearby battling his own flames. His task: to save his family’s winery, Palmaz Vineyards. Alone, he walked past the doomed acres of unpicked grapes to the winery, a series of caves dug 18 levels down into the side of Mount George, where 90 percent of his wine, more than $10 million worth, was fermenting in tanks. It typically requires constant human monitoring to maintain precise temperatures for the wine, among other things. Palmaz confirmed the backup generators were running and able to keep things cool, but as the tech guy without the savvy of his head winemaker, who was stuck on the other side of the fires, he had every…