Bloomberg Businessweek USA - October 30, 2017

11

By Kyle Stock Bloomberg Businessweek October 30, 2017

Americas

○ Protesters took over Kenya’s streets in the weeks before the Oct. 26 rerun of

the presidential election. Police fired tear gas at a demonstration in Nairobi.

○ “Wealth and income skews

are so great that average

statistics no longer reflect the

conditions of the average man.”

Hedge fund magnate Ray Dalio said central bankers should focus on the bottom
60 percent of the U.S. economy, where real income hasn’t grown since the 1970s.

○ Congressional

Republicans said they’d

investigate how Whitefish

Energy Holdings, a two-

year-old company with

two employees located in

Secretary of the Interior

Ryan Zinke’s Montana

hometown, secured a

$300m

contract to rebuild Puerto

Rico’s electrical grid. A

department spokesman

denied that Zinke or anyone

else at Interior played a role.

○ Sears and Whirlpool ended

a 100-year partnership

because of the appliance

maker’s pricing demands.

Investors were rattled by the

news, and shares in both

companies plunged.

○ A rift in the Republican
Party widened as Arizona
Senator Jeff Flake called
the president “dangerous
to democracy” in a speech
announcing that he wouldn’t
seek reelection.

○ The Harvey

Weinstein fallout

continued: New

Orleans chef

John Besh and

employees

at Fidelity

Investments

are out of their

jobs because of

alleged sexual

harassment.

○ Apple is having

trouble making

enough of its new

iPhone X.

The company may only be able to
produce 25 million to 30 million
this year, about three-quarters as
many as expected, because of
difficulties manufacturing the facial
recognition system.

○ Rhone Capital and

WeWork, the growing office-

sharing empire, agreed to

pay Canada’s Hudson’s Bay

$850m

for its famous Lord & Taylor’s

store in Manhattan. The

struggling retailer will use the

cash to pay down debt.

Africa