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EXPLOREMY LIBRARY
Bloomberg Businessweek

Bloomberg Businessweek 2/12/2018

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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Country:
United States
Language:
English
Publisher:
Bloomberg Finance LP
Frequency:
Weekly
$7.99
$59.99
50 Issues

in this issue

5 min
this bond market could get uglier

A little more than a week into the New Year, billionaire bond guru Bill Gross proclaimed the start of a bond bear market, after an extraordinary bullish run spanning more than three decades. Two weeks later, Ray Dalio, whose Bridgewater Associates is the world’s biggest hedge fund firm, piled on with a forecast of the worst bear market since the early 1980s. As yields on U.S. Treasuries soared to levels unseen since 2014, Gross asked the question on many investors’ minds: Who would buy America’s debt right now? After all, the government deficit is soaring because of massive tax cuts, and the Federal Reserve, the largest single holder of U.S. government debt, is trimming its almost $4.4 trillion portfolio of securities. Yet many investors in the world’s biggest bond market are smiling.…

5 min
banks win big in trump’s washington

This is “a time to reflect on the need for strong guardrails ... not a time for taking those apart” In early February, with the Treasury secretary testifying about wild gyrations in the stock market and the Federal Reserve leveling unprecedented penalties against Wells Fargo & Co., it may have felt like 2008 again, with the financial system under siege. In reality, banks are booming, at least in Washington. As the 10th anniversary of the financial crisis approaches, many of the restrictions put in place to rein in Wall Street risk-taking are quietly being unwound. The Senate is considering legislation that would remove dozens of major banks from stepped-up oversight. The bill has broad Republican support and has been endorsed by 11 Democrats. In recent months a handful of the federal agencies…

3 min
in brief

Asia ● Crews in Taiwan rushed to rescue dozens of people trapped under rubble after a 6.4-magnitude earthquake. ● Maldives President Abdulla Yameen jailed two Supreme Court justices and blocked lawmakers’ access to parliament, calling the actions a response to an attempted coup. ● Forty-seven Russian athletes made last-ditch appeals to the International Olympic Committee to compete in the Winter Games in Pyeongchang. The IOC had barred Russia over allegations of widespread doping during the 2014 Games, but said decisions on individual athletes’ eligibility would be made on a case-by-case basis. ● China’s Zhejiang Geely maneuvered to buy 3 percent of Daimler, the parent of Mercedes. Geely, which also owns Volvo, has been on a shopping spree, buying the London Taxi Co., Lotus, and Terrafugia, a U.S. startup focused on flying cars. ● Alibaba took a…

4 min
forget cord cutters. qvc lives on

Standing next to a clothing rack on a TV studio set in West Chester, Pa., Pat James-Dementri, a host on home shopping channel QVC, urges viewers not to wait to buy a blouse and tank top set. Order now, she says, and get 30 percent off. Then she translates the price into the channel’s signature math: “Three easy pays of $16.66.” That folksy, old-school style of selling, used by the company since its founding in 1986, is burned into the memories of many people who haven’t shopped the channel in decades. A recent Philadelphia magazine article described QVC fans, for instance, as “silver-haired grannies ordering slow cookers and vibrating belly bands from landline phones.” Yet QVC isn’t that cable shopping channel anymore. About half its sales occur online, and two-thirds of…

6 min
modi fied

It was a sight to warm the heart of an Indian nationalist: Prime Minister Narendra Modi, at the Republic Day celebration on Jan. 26, welcoming one by one his 10 chief guests, the leaders of the Association of Southeast Asian Nations, or Asean. They stood alongside Modi and watched an hourslong parade that, in its cheerful mishmash of tanks, marching sailors in spats, kilted bagpipers, female motorcycle daredevils, camels, ballistic missiles, dancing schoolchildren, and tableaux representing such abstract concepts as ethical taxpaying, is a fair representation of this bewildering and vibrant country. You could see the presence of Asean’s leaders as a sign of India’s rise and allow yourself to hope that this most diffident of countries was finally stepping into a global role. Just the previous week, Modi had…

7 min
this old blouse?

It could be any boutique on Fifth Avenue. Italian tourists in fur coats browse a selection of Chanel Classic 2.55 purses that flank a Gucci Dionysus, last year’s holy grail of handbags. Nearby, women with bouncy blowouts pore over Cartier Trinity rings and Kwiat diamond studs. For all the excitement, you’d never guess this stuff was all preowned. In the RealReal store on Wooster Street in New York’s SoHo neighborhood, you might find a $600 Balenciaga City bag, $800 Hermès Collier de Chien bracelets, even a $1,500 Fendi Baguette—the pint-size floppy rectangle that rocketed to “it” bag status in the late 1990s as Carrie Bradshaw’s carryall of choice on Sex and the City. That the items aren’t directly off the runway doesn’t detract from their value; it enhances it. Almost 10,000 pieces…