Bloomberg Businessweek

in brief

Angela Merkel’s carefully crafted succession plan collapsed when her chosen heir, Annegret Kramp-Karrenbauer, said she won’t stand as the next German chancellor. She also quit as head of Merkel’s Christian Democratic Union party, a little more than a year after assuming the post. Merkel said she’d play an active role in finding another candidate. ▷ 33 NASA and the European Space Agency launched the Solar Orbiter on Feb. 10. The mission will provide a closer look at the sun, including images from its north and south poles. It will also study the effect the sun’s powerful magnetic field has on Earth. Chinese billionaire Li Shufu is unifying his automotive brands, Geely and Volvo Cars. The move paves the way for China to have its first global carmaker. The new structure—with shares listed in…

mbs hosts high finance

Saudi Arabia welcomes ministers to Riyadh on Feb. 22-23 as part of its G-20 presidency. It’s a chance for Mohammed bin Salman to repair his name, sullied by the war in Yemen, the Jamal Khashoggi murder, and a phone hacking scandal. ▶ Glencore reports full-year earnings on Feb. 18. The world’s biggest commodities trader has said it will benefit from demand for metals such as copper, needed for increased electrification. ▶ Walmart reports earnings on Feb. 18. The U.S. retail giant’s results will likely reflect fallout from the coronavirus spreading across China, where it has more than 440 stores. ▶ Berkshire Hathaway Chairman and CEO Warren Buffett publishes his much-anticipated annual letter to company shareholders on Feb. 22. ▶ Singapore unveils its budget for fiscal year 2020 on Feb. 18. The outbreak of the…

martyrdom in the time of xi

Martyrs have always played a central role in China’s opaque politics—both for authorities to rally nationalism and for the opposition to resist. Now the country’s spiraling virus outbreak has one who could become the face of the biggest crisis for President Xi Jinping since he took power. Li Wenliang, a 34-year-old doctor in the central city of Wuhan, was sanctioned by local officials last month for publicly warning of the dangers of the coronavirus that is quickly making its way across the world. His death on Feb. 7 from Covid-19, as the disease from this new coronavirus is called, unleashed a wave of fury in online forums from citizens questioning not just the initial response, but also the overall competence of the Communist Party. The regime, of course, isn’t in danger of…

the coronavirus task force is here

A key player in the race to develop a vaccine for the new coronavirus doesn’t conduct biomedical research. It’s 3 years old, has just 68 permanent employees, and is headquartered in Norway, which so far has reported zero cases of the illness. But the Coalition for Epidemic Preparedness Innovations is “incredibly necessary,” says Dr. Manuel Martin, the adviser for medical innovation and access policy at Doctors Without Borders (Médecins Sans Frontières). “Absolutely, without a doubt,” CEPI has accelerated development of a vaccine against the virus, says Phyllis Arthur, vice president for infectious diseases and diagnostics policy at Biotechnology Innovation Organization, a trade group. Since CEPI’s contribution is organizational, attention usually goes to the scientists it supports. But the coalition is a societal immune response, speeding the development and deployment of vaccines…

airbus tries to press its advantage

For decades, Airbus SE and Boeing Co. have been fighting each other for orders. In 2017 and 2018, Boeing delivered more aircraft, but after two fatal crashes in five months, its 737 Max was grounded last year, and it was forced to halt production and deliveries of the popular jet. With its rival in crisis, Airbus supplied 483 more planes than Boeing in 2019, the biggest margin in their 45-year battle. Airbus secured more than 700 net orders for narrowbody aircraft, while Boeing lost more deals than it won, ending the year down 51 narrowbody orders. While the company has been careful not to revel in Boeing’s misfortunes, they give Airbus the opportunity to reshape the narrowbody market for years. Industry consultant Mark Martin estimates that Airbus could one day deliver…

tlc’s thriving franchise

Like every successful reality TV show, 90 Day Fiancé begins with an intriguing concept: Can a blossoming romance survive the harsh rigors of the American immigration system? From there, of course, it descends into spellbinding acrimony. In each hour-and-a-half-long episode, viewers watch as real-life couples navigate the K-1 visa program. Established in 1970, it grants prospective immigrants permanent residency in the U.S. if they marry an American within 90 days of entering the country. If the engagement fails, so does their chance at living the American dream. The fast track to U.S. citizenship fills the show with tension, misunderstanding, and drama: The hasty timeline baked into the K-1 program adds pressure to the already fraught proceedings of courtship, assimilation, and matrimony. Along the way, lovestruck couples try to convince skeptical families that…