Business & Finance
Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition April 29, 2019

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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50 Issues

in this issue

3 min.
in brief

Scrutiny of economics writer Stephen Moore, a potential nominee for the Federal Reserve Board, intensified after Herman Cain withdrew from consideration. The IRS won a judgment against Moore over unpaid taxes last year. (He’s contesting it.) He also faced criticism for columns in 2000 that derided feminists for turning men into “minorities.” Islamic State claimed responsibility for a complicated set of suicide attacks in churches and hotels in Sri Lanka on Easter Sunday that killed at least 359 people. After Hasbro, Lockheed Martin, and Twitter reported their first-quarter earnings, the S&P 500 and Nasdaq Composite indexes marked highs: On April 23 the S&P closed at 2,934 and the Nasdaq at 8,121 though both declined slightly the next day. Countries that purchase Iranian oil will now face U.S. sanctions. The Trump administration ended waivers exempting…

2 min.
a false step on cuba

President Trump has taken steps lately to make things harder for Cuba, aiming to persuade its government to stop helping Venezuela’s embattled tyrant, Nicolás Maduro. That’s a worthy goal, and Cuba’s material support for Maduro is objectionable, but this is the wrong way to get results. The administration just announced that U.S. citizens will be able to sue foreigners for transactions involving property that Cuba confiscated after the 1959 revolution. This legal recourse was made available by the Helms-Burton Act in 1996 —but was then frozen, for good reasons, by successive administrations. Tougher restrictions on travel and remittances will also come into force. These moves follow previous bans on commerce with businesses owned by the Cuban military and security services; restrictions on individual travel to Cuba; a veto of Major League…

1 min.

▶ Workers (and Statistics), Arise On May 3, the U.S. Bureau of Labor Statistics releases the employment figures for April. March saw a surge of 196,000 jobs, after a wobbly gain of 33,000 in February. Will the almost decade-long rise in hiring—and, more recently, wages—continue? ▶ Google’s parent Alphabet announces quarterly earnings on April 29. Apple and General Motors report the next day. ▶ On May 2, Bank of England Governor Mark Carney provides U.K. inflation figures and the central bank’s decision on rates. ▶ Brazil reports on its trade balance on May 2. While it still expects to be in the black, its surplus missed expectations by $500 million in April. ▶ Anthony Scaramucci, short-lived White House communications director, will be “Interpreting Trump on China” on April 30 at a conference in Washington. ▶…

9 min.
into a world without marchionne

On the morning of July 20, 2018, a warm Friday, a Fiat Chrysler corporate jet took off from Turin, Italy, with Chairman John Elkann on board. For the second time in a week, Elkann, a scion of Fiat’s founding Agnelli family, was crossing the Alps, headed for the University Hospital Zurich to try to discover what was wrong with his chief executive officer, Sergio Marchionne. Three days earlier, Elkann had been denied entry to the hospital’s intensive-care unit by Marchionne’s doctors who said it would be a violation of the patient’s privacy. The chairman hadn’t received an update on how the CEO was recovering from surgery he’d undergone at the end of June. No one at the company knew he’d been scheduled for the procedure. Elkann had one issue on his…

1 min.
what gen z wants

Generation Z is poised to become the largest group of consumers in the world this year, supplanting millennials as a key target for brands preparing for the next round of shifts in shopping and spending habits. Companies can’t afford to get this one wrong. Gen Z—people roughly age 7 to 22—account for about a quarter of the global population and already wield spending power of as much as $143 billion in the U.S. alone. Early indications are that Gen Z will put its own spin on consumerism, with major implications for companies around the world that were caught flat-footed by the rise of millennials. Gen Zers don’t know a world without the internet, and they live on social media. They don’t much use e-mail. They also don’t watch ads on television. They…

5 min.
a new crop of mall rats

Gen Z keeps confounding corporate America. Its members shun beer, they want companies to take political stands, and they trust the Kardashians to make their makeup choices. Yet the biggest surprise for marketers about this new cohort of youthful U.S. consumers? They love the shopping mall. About 95 percent of them visited a physical shopping center in a three-month period in 2018, compared with 75 percent of millennials and just 58 percent of Gen X consumers, according to an International Council of Shopping Centers study. And they genuinely like it; three-quarters of them said going to a brick-and-mortar store is a better experience than online, the ICSC found. “There’s always been this assumption that as you go through the age spectrum, the younger consumer that has grown up with online and digital…