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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition Aug-06 Aug-12-2012

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.

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Bloomberg Finance LP
50 Issues

in this issue

1 min
seven days

06 Berkshire Hathaway, Chesapeake Energy, and Caesars Entertainment report earnings ▸ Obama fundraiser: Movie mogul Harvey Weinstein holds a $35,800-a-head event for the president at his Westport (Conn.) estate. Another Obama fundraiser will be held in nearby Stamford. 07 U.K. industrial production Walt Disney, Priceline.com, Xstrata, and Pandora report earnings Italy’s GDP: The country’s annual economic output is expected to fall by 2.4 percent, as rising unemployment causes a slump in consumer spending, according to the employer association Confindustria. 08 News Corp., ING, and Macy’s report earnings France posts its trade balance ▸ Presidential burial: Three-day funeral services commence for Ghana’s late President John Evans Atta Mills, who died on July 24. The 94th PGA Championship begins Final Olympic dressage event ▸ Iowa State Fair: The annual Des Moines event features food, contests, and butter sculptures. ▸ Women’s boxing: Fly, light,…

1 min
bid & ask

1 Chicago Bridge & Iron offered $3 billion for nuclear energy contractor Shaw Group in the largest construction acquisition of the year, making a big bet on a nuclear renaissance. 2 Canadian home-improvement retailer RONA spurned a $1.8 billion takeover offer from Lowe’s. RONA’s stock had a record one-day gain, a sign that investors anticipate a bidding war for the company. 3 Roper Industries will pay $1.4 billion for Sun-quest Information Systems, making the health-care software firm its largest acquisition in at least 17 years. 4 Sumitomo closed a $1.4 billion deal with Devon Energy, purchasing a stake in a pair of Texas oilfields and funding drilling operations in two others. 5 Toyota Tsusho, the trading company affiliated with the automaker, agreed to pay $845 million to become the majority shareholder in French car…

4 min
japan wants free trade. its farmers don’t

▸ A rural minority wields outsize clout ▸ “The problem is, everyone wants to buy cheap” The U.S. and Japanese governments want it. Mitsubishi backs it. Toyota Motor says it can’t compete without it. Yet whether Japan joins the biggest attempt at a free-trade pact may hinge on farmers like Tadashi Hirose. Hirose loses money on his 14 hectares (35 acres) of paddies in southwest Hokkaido, forcing him to take a second job at a construction company. Still, he says, if Japan joins the Trans-Pacific Partnership trade pact, or TPP, the resulting competition from abroad would destroy his family’s livelihood and economically devastate Hokkaido, the top rice-producing region. Pacific Rim nations including the U.S., Canada, Singapore, and Mexico have been negotiating for years to come up with a trade treaty that would radically…

3 min
mitt romney’s twitter nemesis

▸ Comedian Rob Delaney built a huge following by taunting the candidate ▸ He’s “like a much cleaner, more honest super PAC” Social media’s central role in the presidential campaign has elevated some unusual figures to positions of prominence. Mitt Romney probably imagined his official Twitter handle (@MittRomney) would be the provenance of his own campaign. Yet on many days, the most heavily retweeted mentions of @MittRomney—a standard gauge of popularity and influence—don’t emanate from the buttoned-down former governor, but from an account whose avatar reveals a large, hirsute man wearing nothing but a green Speedo. That’s Rob Delaney (@robdelaney), a ribald Los Angeles comic who, along with his half a million followers, has emerged as Romney’s chief tormentor on Twitter. It’s an odd pairing. Delaney’s standup routine doesn’t involve politics. But his…

4 min
modern india, by candlelight

▸ Two blackouts expose the state’s inability to build a grid ▸ “The power ministry has made this industry financially unviable” Northern India’s electricity returned with a pop on July 31 as light bulbs in south Delhi exploded, refrigerators groaned from the surge in power, and electricity sockets spat smoke. Twice in two days much of India lost electricity in back-to-back grid failures. While the return of power brought relief, it also fried appliances. Surge protector sales jumped at New Delhi’s Pankaj Electronics, as did sales of light bulbs and fuse boxes at Kotla Mubarakpur market. On Day One, nearly 360 million people—roughly the population of the U.S. and Canada—lost power across seven states in northern India when excessive demand and a shortfall in hydropower overwhelmed the system. Some 12 hours later power…

7 min
confessions of an insider trader

▸ Lawyer Matthew Kluger shared secret info on 30 mergers ▸ “The final excitement was picking up a bag of cash” Every dawn in the early spring of 2011, Matthew Kluger peered out a window of his home in Oakton, Va., wondering when federal agents would knock at his door. Kluger, a mergers-and-acquisitions lawyer, says he worried that authorities were closing in on him as the source of illegal tips in a three-man insider-trading ring that eluded detection for 17 years. The knock came on April 6. U.S. agents handcuffed Kluger, hustled him into a Dodge Intrepid, and drove to the Federal Bureau of Investigation office in Manassas, Va. The evidence against him included recordings of him telling the man he tipped to get rid of a cell phone that could lead back…