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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition August 5, 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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Bloomberg Finance LP
50 Issues

in this issue

2 min
in brief

● Boris Johnson stood firm on his promise to pull off Brexit by the end of October. The new prime minister says he will follow through, even if it means the U.K. crashes out of the EU with no deal. Brussels signaled that the current accord is the final one. The pound plummeted against the U.S. dollar. ● Donald Trump ramped up his rhetoric against China, accusing it of continuing to “rip off the USA.” Specifically, the president says, China isn’t honoring a pledge to buy U.S. agricultural products. His tirade came on the eve of fresh trade negotiations in Shanghai. Those talks ended abruptly with no sign of progress toward ending the dispute between the world’s largest economies. ● Pfizer announced plans to combine its business selling older blockbuster drugs such as…

1 min

▶ Warmup for the Caucuses The Iowa State Fair begins on Aug. 8 and will attract more than 20 candidates seeking the Democratic Party’s presidential nomination as they try to promote their talking points. The state’s caucuses in February are the traditional start of the presidential election season. ▶ Walt Disney reports its earnings on Aug. 6. Investors will look for more details on the Disney+ streaming service that launches in November. ▶ The Reserve Bank of Australia’s policy meeting is scheduled for Aug. 6. Economists don’t expect the bank to cut its 1% rate before the fourth quarter. ▶ China provides trade balance figures on Aug. 8, The dispute with the U.S. has weighed on exports. Imports shrank more than expected in June. ▶ Lyft posts earnings on Aug. 7. It’s been a…

2 min
countering iran at sea

European nations, alarmed by Iran’s capture of a British oil tanker on July 19, are mounting a response to protect their commercial shipping in the Strait of Hormuz and Persian Gulf. The Royal navy has started to escort British ships, and a plan for a European naval mission has been endorsed by Denmark, France, and Italy. It’s a promising start. But effectively curbing Iran’s misbehavior and safeguarding ships in the region will require a more ambitious—and truly international—effort. Most important, it needs to involve the U.S. Navy. The Europeans are wary of combining their fleets with a nearby American operation for fear of being identified with President Trump’s “maximum pressure” campaign against Iran. France’s foreign minister says a separate effort is needed to reduce tensions and “create the conditions for inclusive…

9 min
all over but the streaming

Anyone who wants to watch a dramatic, treacherous race in the months ahead should check out the escalating competition in the world of streaming video-on-demand TV. It promises to be the media industry’s equivalent of the Badwater Ultramarathon, the annual spectacle in which a steely group of endurance athletes gather in the arid lowlands of California and race uphill on foot for 135 miles. In the summertime. In Death Valley. By this time next year, AT&T’s WarnerMedia division, Comcast’s NBCUniversal, Walt Disney, and Apple will all have released sinewy new streaming video services, taking on the existing ones from Amazon.com, CBS, Hulu, and Netflix. It’s unlikely that any of these media and tech giants will escape this looming showdown unscathed. Even the ultimate winners are expected to limp into the future…

9 min
it’s a man’s world

Time isn’t being kind to Victoria’s Secret. The lingerie retailer has a problem with the past and a problem with the future—and that leaves the present in a muddle of controversy. Jeffrey Epstein is supposed to be history at the company—and at its parent, L Brands Inc., for that matter—but he’s that skeleton that keeps rattling around the closet to remind everyone he was once an all-too-lively part of the business. Epstein had a two-decade-long reign as close confidant, financial manager, and right hand to the corporation’s chief executive officer, Leslie Wexner. He even had the CEO’s power of attorney at one time. Although he wasn’t an employee at Victoria’s Secret, Epstein also influenced the way the lingerie company operated, associating with the division’s chief marketing officer, Ed Razek. In 2005, for…

5 min
selling the rainforest door-to-door

On a pleasant Tuesday in May, dozens of beauty influencers gathered at the New York Botanical Garden in the Bronx for a vegan lunch and a panel on sustainability in cosmetics. As they sipped passion fruit caipirinhas, the young women snapped photos of lotions and soaps featuring exotic ingredients such as murumuru and priprioca. They’re the types of products that made host Natura Cosmeticos SA a beauty giant in Brazil—and that the 50-year-old company wants to bring to the rest of the world. With its agreement in May to buy Avon Products Inc., Natura is accelerating its global ambitions and betting its brand of natural, ethically sourced cosmetics will appeal to millennial and Generation Z consumers who increasingly want sustainable goods. The company wants to attract social media enthusiasts such as Ava…