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EXPLOREMY LIBRARY
 / Business & Finance
Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition November 11, 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.

Country:
China
Language:
English
Publisher:
Bloomberg Finance LP
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50 Issues

IN THIS ISSUE

3 min.
in brief

Saudi Arabia is pushing ahead with the planned initial public offering of Aramco. The stock will likely be listed on the Riyadh stock exchange. The move comes despite analyst estimates that the oil company probably isn’t worth the $2 trillion valuation advocated by Crown Prince Mohammed bin Salman. Japanese billionaire investor Masayoshi Son suffered the first major loss at his SoftBank Group in more than a decade, reporting a $6.5 billion quarterly loss because of investments in startups like WeWork and Uber. Still, Son said, “There is no change in our journey, no change in our vision.” The U.S. House Intelligence Committee, chaired by Representative Adam Schiff, will begin public hearings in the impeachment inquiry on Nov. 13. William Taylor, the current top U.S. diplomat in Ukraine, is slated to be the first…

1 min.
agenda

▶ Europe’s Engine Runs Out of Steam Germany reports gross domestic product numbers for the third quarter on Nov. 14, and data suggest the European Union’s largest economy is on the brink of recession. Waning demand for exports like cars, as well as uncertainty fueled by Brexit and trade disputes, have hurt output. ▶ The streaming wars are set to enter a new phase when Disney+ begins service in the U.S. on Nov. 12 with a monthly fee of $6.99. ▷ 50 ▶ Walmart reports earnings on Nov. 14. Consumer spending has held up well in the U.S. even as the economy shows signs of slowing. ▶ SpaceX has scheduled its first Falcon 9 launch in more than three months, with the rocket slated to lift a host of satellites into orbit on…

2 min.
greens are growing up

Europe’s Green parties are having the best kind of midlife crisis. Born in the radical counterculture of the 1970s, their movement is entering not only middle age but also the hallways of power. Having grown big, though, the Greens must now grow up. The Greens owe their recent surge partly to the “Greta wave,” the new zeitgeist of climate consciousness inspired by activist Greta Thunberg. But they also benefit from a reaction by urban, educated Europeans against the rise of populist parties. Increasingly, European Union voters are leaving the traditional big-tent blocs for the relative clarity of the poles: populists demanding closed societies or Greens defending openness. In Austria, the Greens could soon replace the far right as junior partners in a national government. In Germany, they’ve been rising in the polls…

9 min.
the setbacks and resilience of california

More nation-state than U.S. state, California is a land of superlatives: the most populous, the most prosperous, home to the most companies in the S&P 500, the fifth-largest economy in the world. Its scale also makes it one of the most powerful, much to the annoyance of Donald Trump’s Washington. Lately, however, the state is also the most incendiary in the union—not just because of its wildfires and accompanying blackouts, but also because they’ve sparked heated debate over whether its future remains golden or is inexorably in eclipse. Just past noon under the clear, blue sky of Halloween day, Kurt Mikell returned to survey what remained of his mulch and compost depot downhill of the Ronald Reagan Presidential Library in Simi Valley, Calif. The Easy Fire had torn through Mikell’s 5…

5 min.
a $1.8 million drug to treat sicily’s curse

On a sweltering summer morning, Daniela Miccichè headed from her home in the center of Sicily to a hospital in the ancient city of Palermo on the coast. It’s a trip she repeats every month. A travel agent from the town of Caltanissetta, Miccichè has no choice but to make the two-hour journey to the Franco and Piera Cutino clinic. Scores of others pass through its front doors, all with the same disease. She’s among an estimated 7,000 Italians, many of them Sicilian, who depend on transfusions to treat beta thalassemia, a genetic disorder that hampers red blood cells’ ability to carry oxygen. Miccichè has waited a long time for the day she can be free from these procedures, a constant in her life since she was 3 years old. “I…

5 min.
tapping india’s $1 trillion gold stash

When Vijay Mhatre needed cash to make up a shortfall for his son’s engineering school tuition, he pledged his wife’s necklace and bangles. Instead of going to the nearest pawnbroker or bank, the 55-year-old called Rupeek Fintech Pvt Ltd., summoning a representative of the online gold lender to his 650-square-foot Mumbai apartment and sidestepping the ignominy of being seen pawning the family jewelry. A motorcycle-borne loan agent from the startup arrived within the hour. He used a computer vision-aided testing kit to appraise the metal’s purity. A team 600 miles away crunched data to complete the background check and process the loan electronically. About 30 minutes later, 200,000 rupees ($2,800) had been deposited in Mhatre’s bank account by one of Rupeek’s partners, an Indian private lender called Federal Bank. The startup’s…