Bloomberg Businessweek USA - 12.08.2019

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Bloomberg Businessweek August 12, 2019

FLINT: ANTHONY KWAN/BLOOMBERG. ZAPATA: AURELIEN MEUNIER/GETTY IMAGES. SIBERIA: ALEXANDR KRYAZHEV/SPUTNIK/AP PHOTO. OBAMA: SEAN

GALLUP/GETTY IMAGES. DATA: COPERNICUS CLIMATE CHANGE SERVICE

 IN BRIEF

By Benedikt Kammel

○ North Korea fired several

short-range ballistic missiles

into the sea, warning that

nuclear talks with the U.S.

are on the verge of collapse

amid U.S.-South Korean

joint military exercises.

North Korean leader Kim

Jong Un has given the U.S.

until the end of the year to

make a better offer.

○ India revoked

the autonomy of

Kashmir.

○ French inventor Franky

Zapata successfully flew

across the English Channel

on a hoverboard, making

the 22-mile jou

20 minutes. A p

attempt a week

failed when he

into the sea du

a refueling stop

○ Vivendi unveiled plans

to sell a 10% stake in its

Universal Music Group

business to China’s

Tencent in a transaction

that values UMG at

€30b

($34 billion).

○ Luxury retailer Barneys

filed for bankruptcy

protection and said it

would close more than a

dozen stores, succumbing

to rising rents and falling

foot traffic. The company’s

adison Avenue

New York will

n.

○ Europe’s Copernicus

climate change program

said July was the hottest

month on record, and 2019

is shaping up to be the

second-warmest year.

○ John Flint, CEO of HSBC,

was abruptly

ousted after

18 months, with

the bank seeking new

leadership in a climate

it calls “increasingly

complex.” HSBC said it

plans to cut more than

4,000 jobs.

○ AmerisourceBergen,

Cardinal Health, and

McKesson have proposed

paying $10 billion to

settle claims they helped

to fuel the U.S. opioid

epidemic—the first sign of

progress in resolving state

lawsuits against the drug

distributors, according to

people familiar with the

negotiations.

The status has existed for seven

decades. The move, which gives India

complete control over the state’s local

police machinery, risks rekindling

tensions with Pakistan, raising the

possibility of a renewed insurgency

in the troubled region. Pakistan

suspended bilateral trade in response.

○ “No other developed

nation tolerates the

level of gun violence

that we do.”

After twin mass shootings over the weeken

that left 31 people dead, former President

Barack Obama denounced U.S. inaction. He

said Americans should reject language that

fuels hatred and normalizes racism.

○ Russian firefighters struggled to contain blazes ravaging large parts of Siberia.

While forest fires are common in the region, hot weather and strong winds have

spread the flames, now engulfing an area the size of Belgium.

urneyin about

previous

k earlier

fell

uring

p.

flagship Ma

location in N

remain ope

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○ Italy gave its security forces greater power to seize vessels rescuing undocumented migrants in the Mediterranean.

○ Walt Disney shares fell after the tepid opening of the Star Wars: Galaxy’s Edge attraction at Disneyland in Anaheim, Calif.

○ FedEx said it won’t renew its ground-delivery contract with Amazon.com when it expires at the end of this month.

○ Toni Morrison, the first black American to win the Nobel Prize in Literature, in 1993, has died at the age of 88.

Difference between global temperature

in July and the average from 1981 to

2010, in degrees Celsius

7/1 979

-0.3C

Average global

temperature, ’81-’

7/

+0.6C