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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition 8/20/2018

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

6 min
building like there’s no tomorrow

To understand what drives America’s increasingly severe wildfire problem, watch what happens after a blaze—and what doesn’t. In the wake of last year’s widespread fires in California, the state found $300 million to pay for helicopters, increased staffing at its emergency command centers, and established a task force on forest management. What the state didn’t do enough of, fire safety experts warn, is push through the sort of change that matters most: fewer ill-protected homes at the edge of the forest. Nobody disputes the need for new ideas. In California, wildfire records are falling at an ever-quickening pace. The 1932 Matilija Fire held the title of the state’s largest for 71 years, toppled only by the 2003 Cedar Fire, which remained the biggest for 14 years. Last December’s Thomas Fire surpassed the…

5 min
earn your cultural capital

Art Exhibitions 33rd Bienal de São Paulo The most reliably exciting biennial in South America comes with a new twist: Its seven sections are curated by artists. Sept. 7–Dec. 9; bienal.org.br Delacroix at the Metropolitan Museum of Art This retrospective in New York of French Romantic Eugène Delacroix showcases his best-known paintings alongside rarely seen ephemera. Sept. 17–Jan. 6; metmuseum.org Anni Albers at the Tate Modern Visitors to this London retrospective of the artist’s abstract textiles and paintings will be pleased to discover that her talent rivaled—if not outpaced—that of her better-known husband, Josef. Oct. 11–Jan. 27; tate.org.uk Cubism at Centre Pompidou Can this be the first major exhibition devoted to Cubism in France since 1953? Paris’s Pompidou is making up for lost time with 300 artworks, including major loans from MoMA and the…

2 min
in brief

● Monsanto was ordered to pay $289 million in a lawsuit over its Roundup and Ranger Pro weed killers. A California jury determined that the company hadn’t done enough to warn consumers that the main ingredient, glyphosate, can cause cancer. The Aug. 10 verdict may embolden thousands more potential plaintiffs. Shares of Bayer, which closed its $63 billion acquisition of Monsanto in June, swooned as much as 14 percent the next day of trading. The company plans to appeal the decision. ● The U.S. Securities and Exchange Commission subpoenaed Tesla on Aug. 15. The demand for information came after CEO Elon Musk’s Aug. 7 tweet saying he was considering taking the company private. Both the SEC and Tesla declined to comment. ● A grand jury found that more than 300 Pennsylvania priests covered up…

7 min
cold turkey

There’s a famous saying in politics: “Never let a good crisis go to waste.” It’s hard to think of a leader who’s put that to better use than Turkish President Recep Tayyip Erdogan. In a way, his entire political career was born out of crisis. After a stint as mayor of Istanbul in the 1990s, Erdogan was briefly jailed and his Islamist political party was banned. He then helped form a new party that was swept into power after a devastating financial crash hit Turkey in 2001. He’s now a twice-elected president who’s steadily amassed power, in part by knowing how to leverage a bad situation. He did, after all, describe a failed coup against him in 2016 as a “gift from God,” because it allowed him to crush his…

6 min
the giants looming over china’s ipos

More big Chinese tech companies are going public these days than American ones, thanks to heavy investing by Alibaba Group Holding Ltd. and Tencent Holdings Ltd. But the largesse from the tech giants comes at a price. A review of initial public offering filings by Chinese companies shows that while the startups benefit from the cash and customers Alibaba and Tencent provide, the deals can also feel like a trap. They can give Alibaba and Tencent inordinate voting power through board seats and veto rights; come laden with conflicts of interest over hiring, mergers and acquisitions, and other strategic decisions; and deepen the startups’ dependence on traffic from the larger companies to life-and-death proportions. Almost two dozen companies have flagged Tencent or Alibaba as risk factors in their IPOs in the…

1 min

▶ The Calm Before the Storms Although the Atlantic hurricane season officially runs from June 1 to Nov. 30, the most active period begins on Aug. 20 and typically peaks in mid-September. The National Oceanic and Atmospheric Administration predicts as many as 13 storms this year, down from 17 in 2017. ▶ On Aug. 20, Venezuela will lop five zeros off denominations of the bolívar and peg its value to its Petro cryptocurrency in a bid to quell hyperinflation. ▶ Cigna shareholders are likely to approve its purchase of Express Scripts on Aug. 24, now that investor Carl Icahn has dropped his opposition. ▶ Honda begins a recall of more than 300,000 vehicles in China on Aug. 20 to fix flaws in some engines and braking systems. ▶ Liberal groups plan rallies for Aug.…