2014年经济学人 一周新闻报道 商业

Bank of America was reported to have reached a settlement with American regulators to pay around 17 billion for mis-selling mortgage-backed securities in the run-up to the 2008 financial crisis. It is by far the biggest penalty levied¹ on a single company. A significant chunk² of the fine relates to toxic³ mortgage products handled by Countrywide Financial and Merrill Lynch, which BofA bought when both were teetering on the edge of bankruptcy⁴.

Benjamin Lawsky, New York state's financial regulator, slapped a 300m fine on Standard Chartered for failing to comply with anti-money-laundering procedures it had agreed to as part of a previous settlement in 2012. He also imposed a 25m penalty onPricewaterhouseCoopers for softening⁵ a report about payments from Iran and other sanctioned countries made through Bank of Tokyo-Mitsubishi in the face of pressure from the bank's executives.

The minutes of the August meeting of the Bank of England's Monetary⁶ Policy Committee revealed a split among its members on interest rates, with two voting to raise rates and seven against. It was the first split in the MPC for more than three years and refuelled speculation⁷ that the bank might lift rates towards the end of this year. The minutes from the Federal Reserve's July meeting showed a lively debate about the timing⁸ of a rate rise, but suggested officials wanted to see more evidence that the American economy has fully⁹ recovered.

That's a lot of dollars

A bidding war broke out among America's biggest discount retailers¹⁰ when Dollar General offered to buy Family Dollar in a 9.7 billion offer that trumped¹¹ an earlier tender from Dollar Tree.The combined revenue of Dollar General and Family Dollar is 28 billion.

Mad about Modi

India's benchmark stockmarket index, the Sensex, reached another record high, as investors¹³ cheered a speech by Narendra Modi, the reform-minded prime minister, outlining the things he would like to do to boost exports and manufacturing. But the bullish sentiment sparked by Mr Modi's election could soon fizzle if his government does not deliver on its promises to liberalise the economy.

Hewlett-Packard reported that its total revenue had grown in the latest quarter for the first time in 11 quarters, to 27.6 billion. The increase was 1%. It achieved this by a 12% rise in computer sales, a market that has wilted¹⁴ as people switch to wireless¹⁵ devices but which may have been boosted by the phasing out of support for Windows XP, prompting companies to invest in new computers.

China's powerful National Development and Reform Commission levied fines on 12 Japanese manufacturers of car parts or ball bearings. They are the first penalties to be reported in an investigation¹⁶ into price-fixing for spare parts and services among foreign car companies in China.

Hertz's share price fell sharply, after the car-rental company forecast that annual profit would come in “well below” expectations. It said business had suffered in part when it was left with a shortage of cars because of a large number of safety recalls from carmakers. General Motors supplies Hertz with 28% of its fleet in the US. Carl Icahn, an activist¹⁷ investor¹², has started circling; he disclosed an 8.5% stake in Hertz.

Mining for profit

BHP Billiton confirmed that it will spin off its less-profitable assets into a separately traded company in order to focus on its core ventures in iron ore, copper¹⁸, coal, petroleum¹⁹ and potash. The move unravels²⁰ much of the merger²¹ in 2001 between BHP and Billiton. The company has been under pressure from investors, and left many disappointed by not also announcing a share buy-back scheme.

Glencore, on the other hand, said it would return 1 billion to shareholders²² through buy-backs, as it reaps the benefits from selling a Peruvian copper mine for 6.5 billion and a vigorous commodities-trading business. Mining companies are having to cope with slow growth, but Ivan Glasenberg, Glencore's boss, contends that “the supercycle ain't over.”

Steve Ballmer stepped down from Microsoft's board, having handed over the reins²³ as chief executive to Satya Nadella last February. Mr Ballmer recently bought the Los Angeles Clippers basketball team for an estimated 2 billion.

Acknowledging the regulatory challenges it faces, Uber hired David Plouffe, Barack Obama's former campaign manager, to direct its strategy. The car-sharing business now operates in 170 cities around the world but faces stiff resistance from entrenched²⁴ interests, much like Mr Plouffe's old boss.

1 levied   

征（兵）( levy的过去式和过去分词 )； 索取； 发动（战争）； 征税

参考例句：

• Taxes should be levied more on the rich than on the poor. 向富人征收的税应该比穷人的多。
• Heavy fines were levied on motoring offenders. 违规驾车者会遭到重罚。

2 chunk   

n.厚片，大块，相当大的部分（数量）

参考例句：

• They had to be careful of floating chunks of ice.他们必须当心大块浮冰。
• The company owns a chunk of farmland near Gatwick Airport.该公司拥有盖特威克机场周边的大片农田。

3 toxic   

adj.有毒的，因中毒引起的

参考例句：

• The factory had accidentally released a quantity of toxic waste into the sea.这家工厂意外泄漏大量有毒废物到海中。
• There is a risk that toxic chemicals might be blasted into the atmosphere.爆炸后有毒化学物质可能会进入大气层。

4 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

5 softening   

变软，软化

参考例句：

• Her eyes, softening, caressed his face. 她的眼光变得很温柔了。它们不住地爱抚他的脸。 来自汉英文学 - 家（1-26） - 家（1-26）
• He might think my brain was softening or something of the kind. 他也许会觉得我婆婆妈妈的，已经成了个软心肠的人了。

6 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

7 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

8 timing   

n.时间安排，时间选择

参考例句：

• The timing of the meeting is not convenient.会议的时间安排不合适。
• The timing of our statement is very opportune.我们发表声明选择的时机很恰当。

9 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

10 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。

11 trumped   

v.（牌戏）出王牌赢（一牌或一墩）( trump的过去分词 )；吹号公告，吹号庆祝；吹喇叭；捏造

参考例句：

• That woman trumped up various baseless charges against him. 那个女人捏造种种毫无根据的罪名指控他。 来自《简明英汉词典》
• Several of his colleagues trumped up a complaint to get him removed from the job. 他的几位同事诬告他，使他丟掉了工作。 来自《简明英汉词典》

12 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

13 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

14 wilted   

（使）凋谢，枯萎( wilt的过去式和过去分词 )

参考例句：

• The flowers wilted in the hot sun. 花在烈日下枯萎了。
• The romance blossomed for six or seven months, and then wilted. 那罗曼史持续六七个月之后就告吹了。

15 wireless   

adj.无线的；n.无线电

参考例句：

• There are a lot of wireless links in a radio.收音机里有许多无线电线路。
• Wireless messages tell us that the ship was sinking.无线电报告知我们那艘船正在下沉。

16 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

17 activist   

n.活动分子，积极分子

参考例句：

• He's been a trade union activist for many years.多年来他一直是工会的积极分子。
• He is a social activist in our factory.他是我厂的社会活动积极分子。

18 copper   

n.铜；铜币；铜器；adj.铜(制)的；(紫)铜色的

参考例句：

• The students are asked to prove the purity of copper.要求学生们检验铜的纯度。
• Copper is a good medium for the conduction of heat and electricity.铜是热和电的良导体。

19 petroleum   

n.原油，石油

参考例句：

• The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
• The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。

20 unravels   

解开，拆散，散开( unravel的第三人称单数 )； 阐明； 澄清； 弄清楚

参考例句：

• Khrushchev's Cold War unravels the tangled contradictions in his leadership of the Communist Party. 赫鲁晓夫的冷战》这本书揭示出赫鲁晓夫作为共产党的领袖，面临着一些棘手的问题。

21 merger   

n.企业合并，并吞

参考例句：

• Acceptance of the offer is the first step to a merger.对这项提议的赞同是合并的第一步。
• Shareholders will be voting on the merger of the companies.股东们将投票表决公司合并问题。

22 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任

23 reins   

感情，激情； 缰( rein的名词复数 )； 控制手段； 掌管； （成人带着幼儿走路以防其走失时用的）保护带

参考例句：

• She pulled gently on the reins. 她轻轻地拉着缰绳。
• The government has imposed strict reins on the import of luxury goods. 政府对奢侈品的进口有严格的控制手段。

24 entrenched   

adj.确立的，不容易改的(风俗习惯)

参考例句：

• Television seems to be firmly entrenched as the number one medium for national advertising.电视看来要在全国广告媒介中牢固地占据头等位置。
• If the enemy dares to attack us in these entrenched positions,we will make short work of them.如果敌人胆敢进攻我们固守的阵地，我们就消灭他们。