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category_outlined / Business & Finanz
Bloomberg BusinessweekBloomberg Businessweek

Bloomberg Businessweek September 16, 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.

Land:
United States
Sprache:
English
Verlag:
Bloomberg Finance LP
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CHF 59.48
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IN DIESER AUSGABE

access_time3 Min.
in brief

After a week of political humiliations at the hand of the U.K. Parliament, Prime Minister Boris Johnson said he’ll seek a new deal with the European Union to deliver Brexit. Leaving without an agreement by Oct. 31 became harder after opponents passed a law banning him from pursuing a no-deal Brexit—or calling a snap election to change the parliamentary math. Nissan ousted Chief Executive Officer Hiroto Saikawa, less than a year after the dramatic downfall of Carlos Ghosn from the Japanese carmaker. The company seeks a permanent replacement by the end of October as it grapples with job cuts and decade-low profits. Saudi Arabia replaced Energy Minister Khalid al-Falih with Prince Abdulaziz bin Salman. The half-brother of Crown Prince Mohammed bin Salman is the first member of the royal family to hold the…

access_time1 Min.
agenda

▶ Here We Go Again Israel holds elections on Sept. 17 to choose the 120 members of the Knesset. After the previous general vote in April, Prime Minister Benjamin Netanyahu was unable to form a governing coalition, forcing him into a rerun against former military chief of staff Benny Gantz. ▶ Berlin is bracing for thousands of protesters on Sept. 20 at the landmark Brandenburg Gate, where they’ll demand more action on climate protection. ▶ China unveils economic data, including industrial production and retail sales, on Sept. 16. The world’s second-largest economy is struggling to reboot growth. ▶ On Sept. 20, Sotheby’s holds an auction in a Portuguese beach resort of more than 130 vintage cars, including a 1931 Bentley Tourer valued at $773,000. ▶ The U.K. Labour Party hosts its annual conference on…

access_time2 Min.
the wall is bad defense

Kudos to the Pentagon for shedding more light on an enduring mystery of Donald Trump’s administration: Who will pay for a wall along the 2,000-mile U.S. border with Mexico? The answer: not Mexico, as the president has frequently declaimed, but U.S. taxpayers—at the expense of the nation’s defense. The U.S. Department of Defense recently sent lawmakers a list of about $3.6 billion in military construction projects that would be deferred to pay for Trump’s wall. This diversion comes on top of the $601 million the administration has redirected from the Treasury Department’s forfeiture fund and an additional $2.5 billion hijacked from the Pentagon’s other priorities. This is worse than just budget gimmickry. Weigh the value of the wall against some of the programs Trump is deferring or potentially eliminating: updating the ground infrastructure…

access_time9 Min.
a trade war of unintended consequences

It’s tempting to laugh off the U.S.-China trade dispute as a soap opera featuring men with big hair and bigger egos. Presidents Donald Trump of the U.S. and Xi Jinping of China once professed close friendship; now both feel jilted. The two countries are said to be “consciously uncoupling,” like Gwyneth Paltrow and Chris Martin. Xi’s just not that into Donald, you know? Except the consequences of this uncoupling—or decoupling or disengagement or whatever it’s called—are deadly serious. The world’s two largest economies, still heavily interdependent, are systematically chopping away at the ties that bind them. There is less trade, less investment, fewer students crossing borders to study, and fewer contacts between militaries. The only question now is how much more contentious the relationship is likely to get. In a worst-case scenario,…

access_time5 Min.
the bloomberg oh-so-slow greening of cruises

After a 13-deck cruise liner crashed into a quay in Venice this summer, residents took to the canals and bridges chanting, “No grandi navi,” or “No big ships,” and local officials vowed to bar large vessels from the city center. Concerned about overtourism and pollution from smoke-belching liners, Barcelona—Europe’s most popular cruise destination—and the Croatian city of Dubrovnik, where much of Game of Thrones was filmed, are planning limits on the number of ships that can visit. Southampton, Britain’s top passenger port, wants liners to run on shoreline electricity so they can turn off their engines while docked. “Communities find it difficult to see the benefits of these big cruise ships,” says Christopher Hammond, leader of the Southampton City Council. “It’s a very visible thing: a big funnel chucking out…

access_time4 Min.
the gambling addiction that’s upset beijing

It’s 6:30 on a Monday morning in China, and the Guangdong Club online gambling platform is humming as a stream of wagers placed in Chinese yuan flows through the portal. The club, which lists its place of registration as Costa Rica, hosts operators offering hundreds of sessions for such popular games as baccarat and blackjack, lotteries, and sports betting—many of them in Chinese. A single baccarat table can draw betting volumes touching 75,000 yuan ($10,500) in a 30-second game. This is gambling with a digital twist, and it allows Chinese to bet without traveling to Macau or Las Vegas. It’s also a growing problem for China’s Communist Party, which says the transactions are draining hundreds of millions of yuan from the country. Beijing views betting as a vice that fuels social…

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