Bloomberg Businessweek - USA (2019-07-22)

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BloombergBu July22, 2019

ZIMBABWE: JEKESAI NJIKIZANA/AFP/GETTY IMAGES. MCCARTNEY: VICTOR VIRGILE/GAMMA-RAPHO/GETTY IMAGES. RYANAIR: HORST GALUSCHKA/GETT

Y IMAGES.

PRESSLEY:

ALEX

WROBLEWSKI/GETTY

IMAGES.

SALVINI:

ANDREW

HARRER/BLOOMBERG.

DATA

COMPILED

BY

BLOOMBERG

 IN BRIEF

○ China posted second-

quarter domestic output

growth of 6.2%, the lowest

rate in nearly three decades.

○ Deputy Premier Matteo

Salvini—whose League

forms half of

the fractious

coalition that rules

Italy—remains embroiled

in allegations that an

associate sought Russian

funding for the party. Salvini

has denied the claims.

○ Turkeysaidit would

pursueenergyexploration

in Mediterraneanwaters

alsoclaimedbytheethnic

GreeksectorofCyprus,a

memberoftheEuropean

Union.Ankarahasoccupied

northernCyprussince1974.

○ The EU accused the

U.K. of trying to bully it into

concessions over Brexit

as the specter of a no-deal

divorce sent the pound to

depths it hasn’t seen since

early 2017. On July 16 it

was trading at

$1.

Five years ago, sterling

was worth $1.70.

○ North Korea’s

economy, hit by

sanctions,maybe

in itsworstshape

sincethe1990s

faminethatkilled

upto10%ofthe

population.

○ Ryanair Holdings said

it would have 5 million

fewer passengers than

expected in 2020, because

Boeing would deliver only

about half of the 58

737 Max 200s the airline

ordered. The planes were

grounded after crashes in

Indonesia and Ethiopia.

○A multilateralreportfromtheZimbabweangovernmentandNGOsin the

drought-strickencountrysaysasmuchas$218millionmaybeneededto

prevent5.5millionfromgoinghungry.That’salmost60%ofthepopulation.

○ StellaMcCartney,whoin March 2018

boughtbacka 50%stakein herlabel

fromKering,is joiningwithrivalLVMHto

pushmoresustainableluxuryfashions.

○ Foxconn founder Terry Gou was defeated by a pro-China mayor in the Kuomintang primary for president of Taiwan.

○ Netflix reported a surprise loss of U.S. customers for the second quarter, renewing concerns about its growth prospects.

○ Congo’s Ebola outbreak is an international public-health emergency, the World Health Organization said.

○ Nestlé said it had patented a way to use cocoa bean pulp to make chocolate without adding extra sugar.

onot take the bait.

isis simply a disruption

nd a distraction from

he callous, chaotic, and

corrupt culture of the

administration.”

Ayanna Pressley, joining fellow Representatives Alexandria Ocasio-Cortez,

Ilhan Omar, and Rashida Tlaib in pushing back against President Trump, who

tweeted they should “go back” to where they came from rather than criticize

his policies. All are American; only Omar was born overseas.

A 9.8%surgein retailsalesin Junewas

discountedasa one-off.Meanwhile,

theU.S.saidnegotiatorsmayheadto

Beijingtorestarttradetalks.

12%

9

6

Q1 ’10 Q1 ’

South Korea is also suffering, from

a cooling tech boom, the U.S.-China

trade war, sky-high consumer debt,

and tensions with Japan.

usinessweek

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