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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition November 25, 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

The University of Hong Kong came under siege, with police saying they fired more than 1,400 tear gas volleys at protesters. Pro-democracy demonstrations in the China-controlled territory have become increasingly violent in recent weeks. The initial public offering of Saudi oil giant Aramco will rely heavily on in-country demand after plans to market the deal in Canada, Japan, and the U.S. were dropped. Aramco is seeking a valuation of $1.6 trillion to $1.71 trillion, well below the $2 trillion sought by Crown Prince Mohammed bin Salman. President Donald Trump floated the idea of appearing at the impeachment hearings, tweeting that he’ll “strongly consider” testifying. Kylie Jenner sold control of the makeup and skin care group she founded to Coty for $600m The youngest member of the Kardashian-Jenner clan comes with more than 151…

9 min
south africa’s epidemic of hate

In early September, Faayif Yosif, a 41-year-old Somali who moved to South Africa as a refugee in 2004, lost everything he owned in minutes. A mob of South Africans began doing the toyi-toyi—a dance with a jogging rhythm associated with protests—outside his general store on the outskirts of the capital, Pretoria. “They broke into my shop and took everything, including a lot of money,” he says. Since then, he’s lost his appetite and become depressed, and he spends his days sleeping. “They told us to get out if we didn’t want to die. My heart was broken, because I watched something I worked hard for being destroyed.” Every few years, bouts of xenophobic violence in South Africa—which mainly target black Africans from elsewhere in Africa and, occasionally, poor migrants from Pakistan…

7 min
is china still gm’s promised land?

The future for General Motors Co. in China is in the hands of customers like Yang Yanjun, a 46-year-old logistics executive in Shanghai. Yang and his family own two gasoline-powered cars—a Volkswagen and an Audi—and now he’s considering whether to go electric. Strolling through a Buick showroom in eastern Shanghai, he stops to admire one of GM’s newest electric vehicles, a powder-blue Velite 6 that’s wrapped with a giant red bow and costs less than $27,000. “It’s time for a change,” he says. “We’re ready to try something new.” Mary Barra, GM’s chief executive officer, who of late is managing labor strife at home, needs more such converts to reverse the automaker’s slide in China. The world’s biggest auto market is suffering through a year-and-a-half slump exacerbated by China’s lackluster economy…

5 min
the quest for fake meat’s holy grail

The walls of Redefine Meat Ltd.’s lab in Rehovot, Israel, are plastered with posters of cuts of beef, including sirloins, T-bones, and rib-eyes. Books such as Whole Beast Butchery line the counters while vacuum-packed bags of what look like chops, ground meat, and gristle practically spill out of the fridge. The engineers and food researchers are, you could say, a bit obsessed. But the startup isn’t looking to sell the perfect cut of beef. Instead, it wants to create a plant-based facsimile. The company is building a 3D printer that it says will produce a meatless steak that’s so fatty, juicy, and perfectly meaty that even the most dedicated carnivore won’t know the difference. “All meat alternatives today are basically a meat-homogeneous mass,” says Eshchar Ben-Shitrit, Redefine Meat’s chief executive officer.…

5 min
vaping’s problems shift east

For e-cigarette startups steadily being frozen out by regulators around the globe, China seemed like an easy win. But now the world’s biggest tobacco market is joining the pushback against vaping, leaving companies scrambling. Fearful of its impact on teenagers, China has shifted its stance on vaping from benign indifference to crackdown mode within a matter of weeks. The country banned online sales on Nov. 1, and authorities are considering forbidding vaping in all public venues, a curb not even imposed on traditional cigarettes. That’s a particularly rapid regulatory turn, considering the government only banned vaping for those under 18 in August 2018. Beijing joins a growing global chorus, from India to the U.S. to Brazil, moving against e-cigarettes. Once seen as a useful tool to help smokers quit, vaping is…

7 min
amazon’s political wipeout

Amazon.com Inc. is an $870 billion company accustomed to winning—and it doesn’t lose quietly. The company on Nov. 14 said it planned to legally protest the U.S. Department of Defense’s decision to award Microsoft Corp. its $10 billion cloud contract to modernize a large swath of the Pentagon’s technology. Microsoft and Amazon had been part of a fierce battle for the contract that had at times in the past two years also included Google, Oracle, and IBM. It’s easy to see why Amazon might have assumed it had the contract locked up. The company had been seen as such a favorite that the Defense Department was facing a preemptive Oracle Corp. lawsuit for setting up a process that the other company claimed only Amazon could win. And the results don’t reflect…