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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition 6/11/2018

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

17 min
for art’s sake

In the hours after the twin towers fell in Lower Manhattan, Bernardo Paz had a flash of inspiration. He called up his curator, Ricardo Sardenberg, who was helping him create a private museum in the hills of southeastern Brazil. Paz had become rich by taking over bankrupt mining companies, and he sensed an historic opportunity to build a world-class art collection. “If there’s a time to go to New York, it’s right now,” Sardenberg remembers Paz saying even as they watched the televised loop of the towers collapsing. As soon as flights to New York resumed, they went. The galleries in Chelsea were quiet, but dealers were relieved to entertain a buyer, and Paz scooped up sculptures and installations by top contemporary artists “for the price of a banana,” in Sardenberg’s…

5 min
to catch a credit card thief

When Chad Evans took a job in 2016 as manager of online investigations for retailer PetSmart Inc., he thought he’d be ferreting out small-time credit card fraudsters. But sometimes he catches glimpses of what may be larger, darker crimes. Evans and his team spend their days in a squat Phoenix office building combing through online transactions to find suspicious patterns. He’s basically an internet mall cop, tasked with nabbing virtual shoplifters. Not every company has an Evans. Many websites accept fraud as a cost of doing business. But online fraud has soared in recent years—a side effect of the introduction of chip cards, which have made it harder for crooks to create fake cards to use in stores. This has forced many merchants to rethink their approach. Along with rejecting suspicious…

3 min
case study: curriculum overhaul

At the University of Southern California’s Marshall School of Business, a curriculum revamp two years in the making will be unveiled in late August. Suh-Pyng Ku, the vice dean for graduate programs who led the effort, says that while faculty revisit and tweak their own course materials, an in-depth review of the structure of the MBA program and every required course offered hadn’t been conducted in six years. “Curriculum change is hard,” Ku says. “But if you don’t do it, you’re going to be irrelevant or not competitive.” That’s a challenge for all business schools. “Students gauge where they will attend based on the curriculum, and in order for the school to be competitive, they need to be on the cutting edge of what they are offering,” says Deena Maerowitz, who…

4 min
investing in women mbas

In 2015, when Divinity Matovu was preparing to enter the full-time MBA program at the University of Pennsylvania’s Wharton School, she was caring for her 3-year-old daughter, grieving her mother’s death, and going through a divorce. “I was very concerned about whether I’d be able to pull this off and actually do the program,” she says. Her decision to proceed was influenced by women she met in prep programs, including one run by Forté Foundation, a consortium of companies and schools whose mission is to increase the share of women business leaders. Matovu says the mentor she was paired with through Forté’s 10-month MBALaunch program boosted her confidence and was “critical” to her success. After completing her degree last year, she took a job at Lyft Inc.’s San Francisco headquarters,…

1 min

▶ May’s Search for Nays Theresa May has to persuade Britain’s House of Commons to reject several amendments to the European Union Withdrawal Bill passed in the House of Lords, including one aimed at keeping the U.K. in the EU customs union. Failure could jeopardize her already shaky hold on power. ▶ President Donald Trump and Supreme Leader Kim Jong Un are scheduled to meet at the Capella Hotel in Singapore on June 12. ▶ The E3 Expo, the video game industry’s premier conference, runs June 12-14. Look for rivals Nintendo Co. and Sony Corp. to announce new games. ▶ South Korea holds local elections on June 13, plus by-elections to fill 12 vacancies in its National Assembly. ▶ South Africa’s scandal-plagued Gupta family will auction some assets to pay creditors. The family has…

3 min
who’s looking out for you?

Among all the financial reforms launched during the Obama administration, the fiduciary rule may have been the most important to ordinary investors. Issued by the Department of Labor in 2016, the rule required brokers working with retirement accounts to put clients’ interests ahead of their own—for example, by recommending an annuity that was better for the client rather than one from a company that paid the broker a bigger commission. The regulation was hailed as an historic win by consumer advocates, and the financial-services industry began remaking many of its products and pay structures to comply. Now the regulation is all but dead. In March a federal appeals court struck it down, and the Trump administration has not appealed the ruling. Where does that leave retirement investors? The outlook is anything…