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Bloomberg Businessweek June 24, 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.

United States
Bloomberg Finance LP
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50 Issues


access_time6 min.
a clear stance

Sino-U.S. trade negotiations took a sharp downturn at the beginning of May. The Donald Trump administration accused China of “breaking the deal” reached previously, and increased tariffs on Chinese goods worth $200 billion from 10% to 25%. Moreover, the Office of the U.S. Trade Representative is currently accepting public comments regarding a proposed tariff hike on another $300 billion worth of Chinese goods. Along with the trade friction, the U.S. has intensified suppression of Chinese technology industries. On May 15, Trump signed an executive order—“Securing the Information and Communications Technology and Services Supply Chain”—declaring a national emergency and prohibiting U.S. enterprises from using telecommunications equipment made by companies deemed a threat to national security. Facing mounting and aggressive pressure from the U.S., China responded with a combination of countermeasures, and on June…

access_time2 min.
in brief

Donald Trump ordered an additional 1,000 troops to the Middle East. Tensions with Iran are rising after attacks on two oil tankers in the Strait of Hormuz. The buildup comes as Acting Secretary of Defense Patrick Shanahan withdrew from consideration to take over the post on a permanent basis. French police questioned Michel Platini, the former European soccer chief, on June 18 as part of a corruption probe into the selection of Qatar to host the 2022 World Cup. He denies any wrongdoing. The nine nations with nuclear arsenals, including the U.S., Russia, Israel, and North Korea, owned 13,865 nuclear weapons collectively at the start of 2019, according to the Stockholm International Peace Research Institute. That’s down about 600 from 2018, as the U.S. and Russia reduced their forces. The U.S. Federal Reserve signaled…

access_time1 min.

▶ Trade War Tête-à-Tête Leaders of the biggest economies convene on June 28-29 in Osaka, Japan, for the Group of 20’s annual summit. President Trump has floated having an extended meeting with his Chinese counterpart, Xi Jinping, to look for ways to defuse the trade war between the two countries. ▷ 42 ▶ Pope Francis receives Russian President Vladimir Putin for an audience on July 4, their third meeting, as the Vatican and the Russian church seek to improve ties. ▶ NATO defense ministers meet on June 26-27 in Brussels. Among the hot topics: Turkey’s planned purchase of a Russian missile system. ▶ OPEC+ (the oil cartel plus 10 other producers, notably Russia) will meet on July 1-2 to discuss output cuts, possibly prolonging curbs till the end of the year. ▶ Indonesia’s Constitutional…

access_time2 min.
dangerous beauty

The beauty industry has come a long way since the days of arsenic scrubs and lead-based face creams. But maybe it hasn’t come far enough. Earlier this year the U.S. Food and Drug Administration confirmed that asbestos—a known carcinogen that’s unsafe at any level—had been found in eye shadow, foundation, and other makeup products marketed to preteen girls. Even worse, because the FDA had no power to force a recall, some tainted products may have remained on sale across America long after the danger was reported. The tale of the asbestos-tainted makeup shines a bright light on the failures of cosmetics regulation, which is so lax even the industry itself is pushing for stronger oversight. While FDA regulations forbid “poisonous” and “filthy, putrid, or decomposed” substances in cosmetics, the agency knows…

access_time8 min.
it’s time to address america’s mental health

So many statistics say that life in the U.S. is getting better. Unemployment is at the lowest level since 1969. Violent crime has fallen sharply since the 1990s—cities such as New York are safer than they’ve ever been. And Americans lived nine years longer, on average, in 2017 than they did in 1960. It would make sense that the psychic well-being of the nation would improve along with measures like that. Yet something isn’t right. In 2017, 47,000 people died by suicide, and there were 1.4 million suicide attempts. U.S. suicide rates are at the highest level since World War II, said the U.S. Centers for Disease Control and Prevention on June 20, when it released a study on the problem. And it’s getting worse: The U.S. suicide rate increased on…

access_time9 min.
why walmart loves ellen

Ellen DeGeneres is on television every weekday. Sometimes she’s on twice. Her daytime talk show, The Ellen DeGeneres Show, brings in more advertising revenue than Dr. Phil’s and Kelly Ripa’s combined, and her prime-time special, Ellen’s Game of Games, gets consistently good ratings. DeGeneres produces movies, voices a popular Pixar character, has her own digital content network, and has earned at least $500 million on endorsement and TV deals, according to a Bloomberg Billionaires Index analysis. She has her own lifestyle brand and last year formed a partnership with Walmart Inc. to create a clothing and accessories line that’s awash in American flags and rainbows and is sold in 2,300 Walmart stores. “I’m still gay, by the way. It’s really working out for me now,” DeGeneres said in her Netflix…