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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition 7/23/2018

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

2 min
in brief

● EU antitrust regulators issued Google a record $5b fine for using its Android mobile platform to sideline rival search engines. Google’s appeal of a separate $2.7 billion fine issued in June 2017 has yet to go before a judge. ● Donald Trump spent the days after his meeting with Russian President Vladimir Putin in Helsinki attempting to quell controversy at home. His remarks on election interference drew outcry from both ends of the political spectrum, while few in the administration came to his defense. • “When times are tougher, you can’t leave. And, when times are better, you don’t want to leave.” Goldman Sachs CEO Lloyd Blankfein formally announced his retirement in a July 17 memo to staff. The bank’s president, David Solomon, will take over the job effective Oct. 1. ● Netflix…

1 min

▶ The Kids Aren’t All Right The Trump administration has until July 26 to reunite families separated while attempting to cross the U.S. border. The government missed a July 10 deadline to reconnect 102 children under age 5 with their parents and was ultimately able to return only 58 of them. ▶ Pakistan holds national elections on July 25. At least three major attacks targeting politicians have occurred in the weeks before voting. ▶ The U.S. Department of Commerce issues second-quarter GDP estimates on July 27. The expected 4 percent growth rate would be the highest since 2014. ▶ Former Trump campaign Chairman Paul Manafort’s trial on charges stemming from the Mueller inquiry is set to begin in Virginia on July 25. ▶ European Commission President Jean-Claude Juncker travels to Washington on July 25…

2 min
let britain choose again

U.K. Prime Minister Theresa May’s new Brexit strategy is collapsing even before the European Union responds. Her plan offered an awkward compromise between a clean break from Europe, which would cause enormous economic disruption, and remaining in the EU, which voters rejected two years ago. Apparently, it’s an offer nobody wants to accept. May’s Conservative Party is bitterly divided between Leavers and Remainers. The Labour Party opposition is split, too. Many on both sides, though, are calling May’s soft Brexit the worst possible outcome. Remainers say it’s an unworkable fudge; a clean break would be better than this. Leavers call it Brexit in name only; staying in the EU would at least be honest. Europe might soon reject May’s approach anyway. Indeed, May was forced to yield on provisions that will make…

10 min
where will a trade war take us?

Is President Trump a blip? A brief aberration who will have no lasting impact on international relations? A tempest in a samovar? Don’t count on it. In a matter of days the president has instigated a trade war, insulted the leaders of numerous allies, thrown NATO into shock, labeled the European Union a foe, and held a remarkable press conference with Russian President Vladimir Putin on July 16 in which he endorsed Putin’s suggestion that Russian intelligence agents could help the U.S. sort through allegations that Russians meddled in the election that brought Trump to power. There are two reasons to expect that Trump’s impact on the world order will be lasting. One is that his actions are eroding trust among both allies and rivals. Once gone, trust is hard to…

6 min
hollywood looks for a bigger role in china

This was supposed to be a big year for Hollywood in China. The five-year World Trade Organization film pact the U.S. and Beijing signed in 2012 was set to be renegotiated, holding out the promise that American studio productions would gain greater access to the world’s second-largest movie market. The industry had expected to see an increase in the number of U.S. films allowed, more access to key viewing windows such as summer, when China’s film authorities rarely allow foreign movies, and a higher share of box-office receipts. Now it’s looking like Hollywood’s long-awaited payday in China could become collateral damage in the trade war brought on by President Trump’s tariffs. Not only have negotiations about widening access to the market stalled, but some in Hollywood also quietly worry that their…

5 min
avon goes for a younger look

In 2016, with two young children and needing money for her law studies, Samantha Richard decided to become an Avon Lady. Trudging from home to home in the suburbs of London, struggling to sell lipstick and mascara, she lasted a day. “My anxiety couldn’t handle it,” says Richard, now 23. “I wasn’t ready to start knocking on strangers’ doors, so I thought there had to be a better way.” It turned out there was. Richard began making Facebook Live videos offering beauty tips and directing customers to Avon Products Inc.’s nascent e-commerce platform. She added her own YouTube channel, which has grown to 2,900 subscribers, supplementing her appearances with Instagram posts and tweets. Now she sells Avon goods to customers from Yorkshire in England’s north to Cornwall in the far southwest—most…