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Bloomberg Businessweek

Bloomberg Businessweek April 19, 2021

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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
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50 Issues

in this issue

2 min.
in brief

There have been nearly 138 million cases of Covid-19 worldwide, and almost 3m have died. Globally, more than 817 million vaccine doses have been given. The U.S. paused use of the Johnson & Johnson shot on April 13 after six women who got it developed a rare and severe form of blood clotting. Guillermo Lasso won Ecuador’s presidential election. Investors in the debt-default-prone country welcomed the victory of the 65-year-old self-made millionaire. With the Derek Chauvin murder trial entering its second month in Minneapolis, protests erupted on April 11 when police in nearby Brooklyn Center killed another Black man, Daunte Wright, during a traffic stop. Kim Potter, the officer who shot Wright, was charged with second-degree manslaughter on April 14. Microsoft agreed to buy speech-recognition pioneer Nuance Communications in an all-cash deal valued…

3 min.
one crucial lesson from brexit’s first 100 days

What lessons can be drawn from the first 100 days of Brexit? Fewer than one might wish. The chaos of recent months underlines the difficulty, and maybe the pointlessness, of even trying to make forecasts amid such uncertainty. For a start, the pandemic has overwhelmed the short-term results of the U.K. quitting the European Union. All those calculations of the effects on the country’s growth, trade, and employment have been rendered null. Because of Covid-19, the economy has slumped, trade volumes have crashed, and many jobs have disappeared, perhaps never to return. Moreover, adjustment to Brexit has barely begun. Many temporary arrangements are still in place. Crucial agreements, including deals that will shape the City of London as a financial hub, have yet to be negotiated. It’ll be some time before…

1 min.
a hot swiss mess

Netflix reports first-quarter earnings on April 20. With more than 200 million subscribers, the streaming giant has withstood increased competition from Disney+ and Amazon. Germany’s Greens will unveil their candidate for chancellor in the September general elections on April 19. Support for the party has surged, particularly among younger voters. The European Central Bank sets interest rates on April 22. Borrowing costs are expected to remain at zero as the EU grapples with a slow recovery and a botched vaccine program. President Biden hosts a virtual climate summit on April 22-23. He’s invited 40 world leaders to participate, including Russia’s Vladimir Putin and China’s Xi Jinping. Executives from Twitter, Novartis, Slack, and other companies will mingle with the likes of Paris Hilton and Chelsea Clinton at the Collision tech meeting from April 20-22. In the…

9 min.
stopping the race to the bottom on taxes

When I interviewed Kimberly Clausing in 2017, she was an economics professor at Reed College in Portland, Ore., with intriguing but seemingly unachievable ideas for how to make multinational corporations pay taxes. I wrote that her plan was worth studying “if only to see how much better things could be if politics didn’t get in the way.” Well, look at her now. In January, just five days after starting a new job at UCLA School of Law, she was offered the position of deputy assistant Treasury secretary for tax analysis. She took a leave from UCLA a month later to make the move to Washington. Her boss, Treasury Secretary Janet Yellen, and her boss’s boss, President Joe Biden, have embraced international cooperation in fighting tax avoidance. And the long-shot agenda that…

6 min.
keeping a close watch, from far away

For the past year the pandemic has brought a halt to in-person inspections of many pharmaceutical manufacturing facilities around the world. With a backlog of more than 1,000 audits to clear, the U.S. Food and Drug Administration is facing pressure to embrace something it’s long eschewed: virtual inspections of foreign drug plants. Inspectors from some Western nations, including the U.K. and Japan, plus the Council of Europe have tried alternatives to in-person audits, such as assessments that use head-mounted cameras, mobile Wi-Fi hotspots, web conferencing, and confidential document-sharing tools. Although remote audits have allowed the global flow of medicine production to continue during the pandemic, some inspectors say that on-site audits allow better scrutiny, including the ability to conduct surprise inspections, ask questions in real time, and fully review sterile conditions…

6 min.
the food fight in fake meat

When Beyond Meat Inc. went public in May 2019, its shares soared 163% on its first day of trading, making it the best-performing large IPO in the U.S. in more than a decade. That boffo stock market debut might have led many to think that Beyond had a lock on the faux meat market. But don’t tell that to Bareburger, a 38-location, New York-based upscale burger chain with a mix of meat and vegan options. It took Beyond’s products off its menu in the spring of 2020, while continuing to serve those of archrival Impossible Foods Inc. “It wasn’t a hard decision to move away from Beyond,” says Jonathan Lemon, Bareburger’s director of culinary operations. The chain had been serving both Beyond’s and Impossible’s fare for more than two years,…