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.
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 with giant green Oppo Electronics Corp. ads showing a young starlet clutching a sleek Chinese phone" (Dou, 2017). This type of language helps the article to convey the dramatic situation in China as Chinese competitors rally behind a nationalist wave in the country that threatens to undermine Apple's footprint.
The article positively conveys the reality of the situation in China today for foreign companies. Apple's issues are such it is the outsider looking in, as more and more of its market share dwindles. The article's main point is that Apple's success in China will depend entirely on the extent to which it is able to adapt and make itself seem more native to the country than it really is.
In the Reuters (2017) article on Tesla, the company is depicted as looking beyond its electric car company as it officially "drops 'Motors' from its name." The article describes how Tesla CEO Elon Musk wants "to transform the Silicon Valley firm from an electric car maker to a diversified energy products company" (Reuters, 2017). While the article does not critically assess either this move or the company's financial durability, one could point out that the company bears some resemblance to another Energy giant that transformed itself on the outside only so as to deceive shareholders while it engaged in a variety of Ponzi schemes -- Enron.
In order to be more relevant and hard-hitting, the article could discuss some of these resemblances but does not. Instead, it briefly notes that Tesla has recently "unveiled solar-powered roof tiles that eliminate the need for traditional panels" and the car company's recent merger with SolarCity Corp. The article makes no mention of the fact that SolarCity is owned by a relative of Musk's.
Thus, this article might have been more insightful had it raised more questions about Tesla's latest turn in reinventing itself. From engaging in space travel to battery production to solar power to electric cars that are always behind in production, the company has adopted many masks over the years. Yet it remains a darling of shareholders -- which begs the question why there are not more journalists prying into the darker corners of the company to find out what is going on behind the scenes. This article by Reuters makes no attempt to do so.
Durden (2017) reports that the Dakota Access Pipeline is set to be completed following permission of an easement from Acting Secretary of the Army Robert Speer. This means that Keystone XL and Dakota Access Pipelines will be able to travel through 4 states, from North Dakota to Illinois.
The article describes both sides of the story, providing the opinion of those who oppose the pipeline and those who support. Thus, the article is balanced and gives a sense of what is at stake here: many jobs will be created as a result of this pipeline, but environmentalists also object to the pipeline and the risks it will pose to the country. Protests led by the Standing Rock tribe and others who object to oil companies and their business pledge to revive protests and to block construction of the pipeline as builders seek to move the initiative forward.
In all, this article provides accurate and balanced information regarding a controversial subject. There is no discernible bias in the piece but rather just the relaying of events -- not even from one side but rather from all sides, so that multiple perspectives on the subject are provided to the reader. This article is brief but also in-depth and thus serves as an excellent source of business news information.
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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