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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition 5/7/2018

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

7 min
the undergrad fixing finance

One morning last June, Angel Onuoha took a train from Connecticut, where he was staying with a friend, to New York City. His summer internship at C.L. King & Associates Inc., a small investment bank, was his first real taste of the finance world outside the student financial clubs he’d joined as a Harvard freshman. It was also a reality check. After a month on the job, he says, he had yet to meet another black employee. Onuoha knew that Wall Street lacked diversity, but on the train that morning he decided to do something about it. He remembered that his friend and fellow freshman Drew Tucker, whom he’d met through a campus organization for black men, was also interested in Wall Street—and that the two had discussed how the clubs…

3 min
sprint and t-mobile’s wedding bell blues

When T-Mobile US Inc. and Sprint Corp. announced on April 29 their $26.5 billion plan to merge, they argued that the combined entity could create a more formidable rival to the biggest wireless providers: Verizon Communications Inc. and AT&T Inc. Indeed, the merged pair would be able to pool their research and development spending and wireless spectrum rights to more quickly offer customers 5G service, the next generation of superhigh-speed wireless communications. Trouble is, few seem to believe this marriage of convenience will bear fruit. The day after the announcement, shares of Sprint—the target of the all-stock offer—suffered their worst drop in a year, falling 14 percent. T-Mobile stock also got hammered, declining 6.2 percent, as investors feared regulators would nix the deal. Investors have reason to be skeptical. Almost four years…

12 min
the robot will hear your pitch now

Ashley Carroll has a go-to story that epitomizes how grim things are for female entrepreneurs trying to raise money in Silicon Valley. Earlier this year, Carroll, a partner at the $2.5 billion venture firm Social Capital, was coaching a female startup founder ahead of a meeting with a potential investor. Let’s call the founder Jane Disruptsky and the investor John Ventureman. The pitch session seemed to go well, but afterward, while Disruptsky was waiting to hear whether the fund would back her, Carroll received a screenshot of a private text-message conversation someone else had had with Ventureman. Ventureman began by praising Disruptsky’s startup on its merits. The gist, Carroll recalls, was: “Great business. I love everything.” Still, he was passing on the deal. The rest of the text chain read like…

2 min
how to: break an nda

① Read the fine print Take a look at the agreement you signed—what’s covered and the consequences of breaking it can vary widely. In practice, many companies are reluctant to commit the time and resources to going after NDA violators, because doing so risks bringing even more attention to an unseemly workplace issue. “It’s kind of a game of chicken,” says Robert Ottinger, an employment attorney in New York. “You’re saying to a company, ‘Do you really want to sue this victim of harassment?’” In the hundreds of workplace misconduct cases Ottinger has handled in the past 20 years, not one has involved an employer suing someone for breaking an NDA to talk about harassment, he says. ② Prove a pattern It’s worth finding out if others could potentially come forward and prove…

9 min
the future of news subscribe

On April 28, I spent an interesting evening not sitting next to Donald Trump. Normally, the president comes to the annual White House Correspondents’ Association dinner—and sits beside the editor-in-chief of the organization whose reporter is the association’s chair. That honor would have been mine, but sadly Trump, for the second year in a row, declined, making clear his disdain for the established media. I spent most of the evening looking down from the dais at the ranks of American journalism, gathered around their pennanted tables like a slightly drunken medieval army. A 2006 cover of the Economist came to mind. It appeared shortly after I became that magazine’s editor and used fonts from familiar mastheads to spell out, like a ransom demand, “Who killed the newspaper?” For better or worse, the…

7 min
what will be left of hna?

As HNA Group Co. rose from provincial obscurity to becoming perhaps China’s most acquisitive global company, its executives made no secret of their desire to play in the big leagues. It appears they got their wish—just not in the way they wanted. An annual report released in late April revealed that HNA spent more on interest than any nonfinancial company in Asia last year, a $5 billion bill that represented a more than 50 percent increase from the year before. A sprawling conglomerate with roots in a middling regional airline that was founded on China’s sleepy, tropical Hainan Island, HNA carried a total of $94 billion in debt at the end of 2017, a hangover from a dizzying global acquisition spree that made it the proud owner of a huge trove…