Business News from Around the World Essay

Tags: pharmaceutical industry market share solar power space travel

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Total Length: 1268 words ( 4 double-spaced pages)

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Business News Analysis



Thomas (2017) reports that President Trump is urging the pharmaceutical industry to lower its prices on drugs sold in the market. As an incentive to lowering prices, Trump has pledged to "ease rules" -- i.e., deregulate the industry substantially. As much of the time and money that goes into producing a drug for market consists of testing and reporting to the FDA, this pledge by the White House is one that could enable drug manufacturers to feel inclined to lowering prices, as their overhead would also dwindle should regulation become less stringent.



However, a deregulated pharmaceutical industry could spell danger for consumers, especially if the easing of rules leads to fewer products that are proven to be safe and effective hitting the market. Nonetheless, Trump's populist message is here seen being coupled with his pro-business platform: thus, one the one hand he is appealing to "public outrage over the rising costs of drugs" while on the other hand also appealing to businesses that feel regulatory bodies are pinching their margins (Thomas, 2017).



Thomas's article accurately and factually reflects without bias the dynamic at work between the new Administration and business as the former continues a dialogue with industries that began earlier this year with the auto industry. So far, business leaders and unions are responding favorably to Trump's message. It remains to be seen how Big Pharma will respond.



As BBC News (2017) reports, VW and Bosch are attempting to appease U.S. regulators in the wake of the ongoing emissions scandal that set the German automaker and supplier back billions in recent years. The latest effort on the part of VW is that the German company says it will pay more than 1 billion dollars to either fix or buy back the 78,000 diesel cars sold in the U.S. under the shadow of its emissions testing scandal.

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The report updates the reader on this latest deal as the company and market regulators attempt to work out a settlement. The deal will go before a federal judge in California, as BBC News (2017) states. That hearing is set for February 14th. The article notes Bosch, the German supplier, has not admitted any wrongdoing in the scandal but that it is willing to settle with regulators as part of an effort to assist in the "transformative process" and enable its buyer (VW) to regain its foothold in the market once this scandal is behind them. The article succinctly covers the background of the scandal while providing the reader with an assessment of this latest update, containing no indications of bias: what are written are just the facts.



Dou (2017) reports for The Wall Street Journal that Apple faces stiff competition in China as a result of Chinese "upstarts like Oppo" which are eating into Apple's smart phone sales. The article depicts the situation in China as one in which the American tech company has faced significant and substantial hurdles over the years -- and this one, the rise of competitor companies scratching away at Apple's market share -- is just the latest. Dou (2017) shows in vivid terminology that Apple is not unstoppable in China, as she uses words to dramatize the barriers Apple faces: "The walls of the train station in the eastern metropolis are papered with reminders of Apple Inc.'s challenge in China. The terminal is blanketed….....

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References

BBC News. (2017). VW and Bosch propose deals to settle US diesel claims. Retrieved from http://www.bbc.com/news/business-38827681

Dou, E. (2017). Cheaper rivals eat away at Apple sales in China. The Wall Street Journal. Retrieved from https://www.wsj.com/articles/cheaper-rivals-eat-away-at-apple-sales-in-china-1485924305

Durden, T. (2017). Dakota Access Pipeline set for completion after Army approval. ZeroHedge. Retrieved from http://www.zerohedge.com/news/2017-02-01/dakota-access-pipeline-set-completion-after-army-approval

Reuters. (2017). Tesla drops 'Motors' from name as CEO Musk looks beyond cars. Retrieved from http://www.reuters.com/article/us-tesla-namechange-idUSKBN15G4SL

Thomas, K. (2017). Trump vows to ease rules for drug makers, but again zeros in on prices. The New York Times. Retrieved from https://www.nytimes.com/2017/01/31/health/trump-vows-to-ease-rules-for-drug-makers-but-prices-remain-a-focus.html

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