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Bloomberg Businessweek
May 28, 2018
MADURO:ARIANA CUBILLOS/AP PHOTO.CUNNINGHAM:BRENDAN MCDERMID/REUTERS. HOCKEY:DAVID LIPNOWSKI/GETTY IMAGES. ELLISON:ANDREW HARRER/GETTY IMAGES.DATA:COMPILED BY BLOOMBERG
IN BRIEF
By Kyle Stock
○ Venezuela’s neighbors
refused to recognize the
result of its presidential
election, in which fewer
than half of voters cast
ballots. Incumbent Nicolás
Maduro declared victory.
○ Sony said it would pay
$2.3b
for a 60 percent stake in
London-based EMI Music
Publishing, which controls
the rights to 2 million songs
from artists including
Queen, Carole King, and
Kanye West.
○ Stacey Cunningham
was named president of
the New York Stock
Exchange. Cunningham
is the first woman to lead
the organization in its
226-year history. Two of
the three ma
exchanges a
led by wome
Adena Fried
was appoint
CEO of Nasd
last year.
○ The Democratic
Republic of
Congo rushed
to fight an Ebola
outbreak, using
an experimental
vaccine from
Merck.
Development of the treatment was
spurred by the outbreak that killed
more than 11,300 people across West
Africa beginning in 2014.
○ Four years into an
aggressive turnaround
attempt, J.C.
Penney CEO
Marvin Ellison
agreed to take the top
job at Lowe’s, another
embattled retailer.
○ The U.S. House approved
a sweeping bipartisan bill
to roll back regulations on
small and midsize banks
levied after the 2008
financial crisis. The Senate
had passed the legislation
in March.
○ China agreed to reduce
its tarif on imported
vehicles to 15 percent from
25 percent, while the Trump
administration said it would
no longer block U.S. tech
companies from selling to
mobile phone giant ZTE.
Treasury Secretary Steve
Mnuchin told Congress
that this was “not a quid pro
quo,” and talks are ongoing.
○ The Vegas Golden Knights advanced to the Stanley Cup Final in their first
year as an NHL franchise. Sports bookies initially laid 500-to-1 odds against their
success, so the Knights could deliver some bettors a major windfall.
○ Tifany & Co. raised its profit forecast after a play for younger customers yielded 7 percent growth in same-store sales.
○ Companies raced to comply with the EU’s stringent General Data Protection Regulation, which took efect on May 25.
○ French railroad workers soundly rejected President Emmanuel Macron’s proposed overhaul of the state-owned system.
○ In Georgia, Democrat Stacey Abrams became the first black woman to win a major-party primary for governor in the U.S.
○“What can I say?
There are a lot of
things I wish we had
done differently over
the last years.”
Wells Fargo CEO Tim Sloan talked to Bloomberg Television about
rebuilding trust with the bank’s customers.
○ Turkey’s central bank
reversed its stance and
raised interest rates
on May 23 after the lira
slid to a record low of
22¢ vs. the dollar.
26
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1/1/18
22
¢
5/23/18
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man
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