ZINIO logo
Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition 12/4/2017

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.

Read More
Bloomberg Finance LP
50 Issues

in this issue

1 min
mohammed bin salman

In November, the prince ordered the arrests of 11 cousins and dozens of current and former officials and prominent businessmen in a play to consolidate power. Although his endgame is far from certain, the prince’s most powerful tool for reshaping the Saudi economy remains his plan—set for next year—to sell a stake in state oil giant Saudi Arabian Oil Co., which could be the biggest initial public offering in history. He continued to upend tradition this year by pushing to allow women to drive, a decision that’s forecast to add $90 billion to the economy by 2030. The prince is also maneuvering to ensure that the Saudi sovereign fund is the world’s largest, agreeing to commit $20 billion to an infrastructure investment pool with Blackstone Group LP for projects mainly in…

1 min
bobby kotick

Kotick raised $240 million selling 12 franchises for the first city-based professional esports league, testament to the seriousness with which the traditional sports universe is viewing competitive gaming. When Kotick pitched New England Patriots owner Robert Kraft on an esports franchise this year, it wasn’t the first time. Sitting in the owner’s box at a Pats game with several other CEOs in 2016, Kotick described to them a league in which professionals play video games before live audiences. He said he was going to sell local franchises for a shooter game that Activision was releasing called Overwatch. He was bombarded with questions, but he didn’t have all the answers. So he began hiring executives with sports experience to advise him. In March, Kotick once again pitched Kraft and other execs in…

1 min
margrethe vestager

In June, Vestager levied a €2.3 billion ($2.7 billion) penalty against Google, the highest antitrust fine the EU has imposed on a company, solidifying her role as enemy No. 1 of U.S. internet titans. The fine imposed by Vestager, which Google is appealing, displayed her customary wariness of how tech giants warp markets. So did the €250 million October judgment against Amazon.com Inc. for back taxes and her November reinvestigation of Apple Inc.’s tax setup after last year’s order that the iPhone maker pay €13 billion in back taxes. Hers is the loudest voice demanding that Europe be tougher about extracting money from these companies and passing laws that regulate how they handle consumer data. Big Tech, be warned. Vestager has two years left in her five-year term, and she’s said…

3 min
beatrice fihn

The Swedish lawyer was central to the adoption in September of the UN Treaty on the Prohibition of Nuclear Weapons, an agreement that has 122 nations on board—and will, once 50 ratify it, become international law, creating potential financial consequences for companies and countries that help produce nukes. Bloomberg News Editor Jonathan Tirone interviewed Fihn about the state of nonproliferation and what her coalition is doing to further the cause. Edited excerpts: How did your work at ICAN lead to the Nobel? The treaty negotiations started in March and concluded in July, so it was a quick process. A large majority of states in the world are moving toward rejecting weapons of mass destruction, saying that nuclear weapons, under no circumstances, are acceptable. At the same time, we have countries that are going in…

1 min
andrew zobler

Zobler’s London hotel, the Ned, measures 320,000 square feet—an almost unheard-of size for a property that retains a luxury boutique feel—and bolsters his reputation as a catalyst for global urban revitalization. When Zobler rechristened the Midland Bank building in London as the Ned this April, he gave new life to a sleepy financial district. With its soaring architecture, members-only club, grooming salons, spa, and restaurant space for 2,800 daily diners, the hotel has Las Vegas-size ambitions and builds on his remake of a once-barren Manhattan stretch now home to his Ace and NoMad hotels. In January, Zobler is set to open a second NoMad, in long-overlooked downtown Los Angeles; the space, in the historic Giannini Place building, boasts 241 Italian-inspired rooms, a library, a rooftop pool, and multiple restaurants by Daniel…

1 min
vitalik buterin

Ether, the digital currency Buterin created to allow users to access his ethereum blockchain software, has gained more than 3,600 percent in value in 2017, a sign that investors still see the network as a potentially revolutionary tool despite security concerns. Standing in front of about 2,000 developers and computer programmers at the Ethereum Foundation Developers Conference in Cancun, Mexico, in early November, Buterin, 23, talked about the future of the network. Recent upgrades “will take ethereum from the state where it is now” into something “that will be used by millions of people,” he said, wearing gray shorts and a green T-shirt with a picture of internet meme dog Doge. Is he right? Maybe. Last year hackers stole $55 million of ether, and soon after Buterin’s speech, $171 million of…