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Bloomberg Businessweek

Bloomberg Businessweek 6/11/2018

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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United States
Bloomberg Finance LP
50 Issues

in this issue

2 min
in brief

● U.S. job openings outnumbered job seekers for the first time on record. ● The U.S. Supreme Court ruled in favor of a Colorado baker who refused to make a wedding cake for a gay couple. The majority found that a lower court had inappropriately dismissed the baker’s religious beliefs, a narrow judgment that left the door open to different outcomes in future cases. • “Of course, it has to be led by a man, because it is a very challenging position.” Qatar Airways CEO Akbar Al Baker responded to a question about the lack of women working in aviation in the Middle East, igniting a controversy. He later offered an apology, saying his comment had been “sensationalized.” ● U.S. leaders quietly asked OPEC to increase oil production by 1 million barrels a day…

1 min

▶ May’s Search for Nays Theresa May has to persuade Britain’s House of Commons to reject several amendments to the European Union Withdrawal Bill passed in the House of Lords, including one aimed at keeping the U.K. in the EU customs union. Failure could jeopardize her already shaky hold on power. ▶ President Donald Trump and Supreme Leader Kim Jong Un are scheduled to meet at the Capella Hotel in Singapore on June 12. ▶ The E3 Expo, the video game industry’s premier conference, runs June 12-14. Look for rivals Nintendo Co. and Sony Corp. to announce new games. ▶ South Korea holds local elections on June 13, plus by-elections to fill 12 vacancies in its National Assembly. ▶ South Africa’s scandal-plagued Gupta family will auction some assets to pay creditors. The family has…

2 min
import food—or labor?

American farmers have been complaining of labor shortages for several years. The complaints are unlikely to stop without an overhaul of immigration rules for farmworkers. Congress has stymied efforts to create a more straightforward visa for agricultural workers that would let foreign workers stay longer in the U.S. and change jobs within the industry. If this doesn’t change, American businesses, communities, and consumers will be the losers. Perhaps half of U.S. farm laborers are undocumented immigrants. As fewer such workers enter the country, the characteristics of the agricultural workforce are changing. Today’s farm laborers, while still predominantly born in Mexico, are more likely to be settled rather than migrating and more likely to be married than single. They’re also aging. At the start of this century, about one-third of crop workers were…

9 min
how to fix a fragile system before it’s too late

Brexit, tariffs, currency meltdowns in Argentina and Turkey, a China growth scare, and a financial near-implosion in Italy—to name just a few events—have surprised many policymakers, companies, and investors in the past two years. The inclination is to treat each as the product of the particular circumstances of each country; and the implication is to play a game of whack-a-mole with each. There’s validity to such a case-by-case approach. But it risks overlooking that something deeper is going on here—a common thread, if you like. And the ramifications will be accentuated by what are now widening inequalities brought about by differing growth rates and policies in advanced economies as the U.S. increasingly outpaces other economies. The more this is understood, the better the world will be able to navigate surprises. And if…

9 min
can a 153-year-old cargill reinvent itself?

William Wallace Cargill pioneered the modern agricultural trading industry in 1865 when he established a string of grain warehouses across the American Midwest. Having a deep-pocketed buyer that could take delivery locally gave farmers an easy way to quickly get cash for their crops, lest they rot in the field waiting on a sale or transport to a faraway market. The ability to store huge amounts of grain also gave Cargill the flexibility to time his own sales to maximize the spread between what he paid farmers and what he could get from distant food processors or exporters. That business model of playing the middleman between farmers and their ultimate customers has enjoyed a lucrative 153-year run, turning Cargill Inc. into the largest privately held company in the U.S. It had…

4 min
building a european hulu

For the past two decades, Spain’s state-run RTVE and private rivals Mediaset España and Atresmedia have been fighting for viewers’ hearts with slates of game shows, sports, comedies, and glossy morning news. Now, in a plot twist worthy of the steamiest soap opera, they’ve decided to hook up: This summer the adversaries are launching LovesTV, a shared 18-channel streaming platform with programming from all three networks. The goal is to “aggregate broadcasters and serve as a common entry point into the digital world,” says Arturo Larraínzar, strategy director at Atresmedia. A similar script is playing out across Europe, as long-standing foes in Britain, France, Germany, and Italy set aside rivalries to co-produce programs or offer shows online. The reason: interlopers from across the Atlantic. Netflix Inc. this year is doubling its…