ZINIO logo

Bloomberg Businessweek 4/2/2018

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.

Read More
United States
Bloomberg Finance LP
50 Issues

in this issue

7 min
creating new miracles in asia

Ahead of the Boao Forum for Asia (BFA) Annual Conference, to be held on April 8–11, Beijing Review interviewed Zhou Wenzhong, Secretary General of the BFA, about his views on Asian development and the world’s prosperity. Founded in 2001, the BFA is a nongovernmental, nonprofit international organization committed to promoting regional economic integration. Its annual conferences take place in the resort town of Boao, in south China’s Hainan Province. Beijing Review : The theme of the 2018 BFA Annual Conference is An Open and Innovative Asia for a World of Greater Prosperity. How was this theme formulated? What is the BFA expecting to achieve at this year’s conference? Zhou Wenzhong: In May 2017, the BFA started to solicit advice from its 29 founding countries, its board of directors, council of advisors, members, partners,…

3 min
sounding the alarm for fire safety

“We respond to a home fire every eight minutes.”– Gail McGovern, President and CEO, American Red Cross By the time she realized her apartment building was on fire, Fatrika Coleman says the flames had raced up two floors and spread to the roof. “I was in the kitchen, cooking,” she recalls, “and I kept hearing a knocking sound. Then I saw smoke and the flicker of a flame.” When she stepped into the bedroom, her balcony was engulfed. Coleman grabbed her purse and ran. Once outside, she says, the scope of the damage became clear. “I realized the fire was a lot bigger than I thought it was.” Devastated while watching her home go up in smoke, Coleman stood there helpless, eager to leave the site of the fire. Then a police officer…

3 min
in brief

Asia ● India is attempting to sell a controlling stake in its state-run air carrier, along with two-thirds of the airline’s $7.8b debt. Air India’s buyer may be required to pursue a public stock offering, which would provide an opportunity for the government to sell off its interest entirely. ● President Trump signed his first major trade deal, exempting South Korea from his 25 percent tariff on steel in exchange for an overall reduction in steel exports to the U.S., among other things. ● Uber Technologies will swap its Southeast Asian ride-hailing business to rival Grab for a 27.5 percent stake in the combined business. • “There’s a lot of work that is still ongoing.The IPO is ongoing.” Saudi Aramco CEO Amin Nasser told Bloomberg the company should be ready for a public listing in…

6 min
weapons of the trade war

Let’s not sugarcoat it anymore. The U.S. and China are in a trade war. Two weeks after President Trump imposed broad tariffs on imports of steel and aluminum from China and other countries, he started the process of slapping punitive duties on tens of billions of dollars of Chinese imports and restrictions on Chinese investment in the U.S. In Beijing, President Xi Jinping was quick to retaliate, hitting U.S. exports of nuts, pork, and other products with tariffs and warning tougher measures could come. The Chinese Embassy in Washington, in a formal statement, pledged the country would “fight to the end.” Economists and Wall Street bankers are providing estimates of what a trade war would cost in economic growth, jobs, and corporate earnings. But the bigger, long-term consequences are harder to…

2 min
red tape and u.s. health care

The American health-care system has a unique problem with paperwork. The sheer number of participants—doctors, hospitals, clinics, insurance companies, patients—makes settling payments complicated, time-consuming, and expensive. The share of U.S. spending devoted to administrative costs, including billing, is roughly three times what it is in other affluent countries, and it’s a major reason the U.S. spends twice as much on health care. Some clinics employ more clerks than providers—not just to generate invoices but to send along the patient information insurers need to approve treatments, to dispute denied payments, to fix mistakes, to handle patient questions, and on and on. For every $1 billion in revenue, the healthcare system employs the equivalent of 770 full-time people to settle the bills. That’s almost eight times more than other industries. And doctors have…

9 min
why pay equality is still out of reach

There’s an essential, frustrating truth about the gender pay gap: You can size it up or down depending on what you’d like to measure—and what you’d like to measure depends on what you think the pay gap is. Are you talking about all women across the economy? In a specific industry? A specific company? In certain jobs? “You can whittle the pay gap down when you control for more and more variables,” says Henry Farber, an economics professor at Princeton University. “But you can never make it go away.” This year, Britain is forcing companies to report their pay gaps as they actually exist, no whittling allowed. By April 4, all businesses with at least 250 employees working in the U.K. will have to disclose any discrepancies in pay between their…