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Bloomberg Businessweek-Europe Edition

Bloomberg Businessweek-Europe Edition

March 2, 2020

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

Land:
United Kingdom
Sprache:
English
Verlag:
Bloomberg Finance LP
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3 Min.
in brief

● The death toll from the coronavirus outbreak approached 3,000 worldwide, with cases springing up in Iran, Italy, and South Korea. The head of the World Health Organization has called the widening outbreak “deeply concerning.” ● Mastercard replaced its longtime CEO, Ajay Banga, with Michael Miebach, the payment company’s chief product officer. Banga expanded beyond card payments with almost a dozen deals in recent years, including $3.2 billion for the Denmark-based real-time billing platform Nets, the company’s largest acquisition to date. ● Morgan Stanley agreed to buy discount brokerage ETrade Financial for $13b The biggest acquisition of a Wall Street firm since the financial crisis more than a decade ago will push Morgan deeper into the retail market. ▷ 21 ● Bob Iger stepped down as Walt Disney CEO, handing the Magic Kingdom keys…

1 Min.
agenda

A Race to Net Delegates Super Tuesday on March 3 will provide a clearer picture of who might become the Democratic Party’s presidential nominee. After early wins in Nevada and New Hampshire, it’s Vermont Senator Bernie Sanders’s race to lose. Israel returns to the ballot box on March 2 for its third general election in almost a year after the previous two runs failed to produce a new government. OPEC meets in Vienna on March 5 to decide whether to cut oil output quotas as the coronavirus batters the global economy and threatens demand for crude. The Geneva International Motor Show kicks off on March 5 for 10 days. Attendance from Asia is expected to be low because of the virus epidemic. Australia’s reserve bank holds its policy meeting on March 3. Economists see…

5 Min.
knives, walls, and other market metaphors

Investors love a good metaphor to explain away what often appear to be unexplainable events in financial markets. So you hear about stocks taking the stairs up and the elevator down to describe how a slow march higher in prices can be followed by a sudden drop. Or “dead-cat bounce” will be offered as a dark explanation for a market that makes a small but ultimately futile rebound after a sharp loss, likening the price chart to the way a cat seems to spring off the ground following a fall from a tree—even though it was killed on impact. In recent years the metaphor trotted out over and over has been that stocks are “climbing a wall of worry” as investors dismiss threat after threat, be it the European debt crisis,…

8 Min.
checkups everyday low price $2998

The main drag of Calhoun, Ga., a town of about 16,000 an hour’s drive north of Atlanta, is dotted with pawnshops, liquor stores, and fast-food joints. Here, as in thousands of other communities across America, the local Walmart fulfills most everyday needs—groceries, car repairs, money transfers, even hairstyling. But now visitors to the Calhoun store can also get a $30 medical checkup or a $25 teeth cleaning, or talk about their anxieties with a counselor for $1 a minute. Prices for those services and more are clearly listed on bright digital billboards in a cozy waiting room inside a new Walmart Health center. Walk-ins are welcome, but most appointments are booked online beforehand. No insurance? No problem. Need a lab test on a Sunday? Sure thing. Walmart “care hosts” take customers…

4 Min.
coping with the coronavirus blues

One Saturday night about a month into the new coronavirus outbreak, Peter Li was going stir crazy. He couldn’t bear to read more about the hundreds of deaths it had caused. He’d have liked to go for a drink, but his regular Beijing haunts were closed. So in the middle of the night, Li—like millions of homebound twentysomethings in China—turned to his phone in search of relief. In Li’s case, he watched a livestream from One Third, one of the capital’s hottest nightspots. It was empty that night but live online with a pair of DJs pumping out electronic dance music. During a five-hour set a few weekends ago, viewers like Li left the club 2 million yuan ($285,000) in tips on the short video platform Douyin, ByteDance’s Chinese version…

8 Min.
who pays to make big tech green?

In the otherwise flat Minnesotan expanse, the whitish-gray mound of coal ash looks mountainous, a permanent cemetery of contaminants next to the twin smokestacks of the Sherburne County Generating Station. This power plant doesn’t just run the town of Becker; it pretty much is the town. But within a decade it will close completely. One frigid morning, Greg Pruszinske, Becker’s administrator, is staring at the field across from the coal ash pile, where he’s placed his hopes for the future. Overhead, bands of high-tension cables connect to towers near the plant. That infrastructure is one reason Google has pledged to put a $600 million data center here. It needs access to massive amounts of uninterrupted power. “The transmission won’t go away” when the coal plant closes, Pruszinske says. “Electrons can come…