经济学人下载:一周商业要闻

Business this week

一周商业要闻

Sep 14th 2013 |From the print edition

Verizon issued $49 billion in bonds, smashing the record for a sale of corporate debt. The telecoms company will use the proceeds to fund its $130 billion purchase of Vodafone’s stake in Verizon Wireless, their joint venture. Pension funds and insurance companies flocked to the sale, tempted by the higher yields Verizon offered compared with other, similar quality bonds.

Verizon公司发行了490亿美元债券，打破了企业债券的销售记录。该公司募集资金用于为购买其合资公司Verizon无线由沃达丰所持有的股份提供资金。养老基金和保险公司蜂拥而至，受到Verizon公司相比其他同质债券提供的更高收益吸引。

Apple brought out two new iPhones, the 5C and the 5S. The 5S is the top-of-the range iPhone, with fingerprint ID replacing the traditional numerical locking code. The 5C is being billed as a cheaper handset, though at $549 in America and $733 in China, a market that Apple is keen to crack, it is still more expensive than many Android alternatives. Apple’s share price fell by 5%.

苹果带来了两款新iPhone，5C和5S。5S是顶级iPhone，带有指纹识别其取代了传统的数字密码。5C被标榜为更便宜的手机，虽然在美国售价为549美元，而在中国售价更高达733美元，苹果想攻破中国市场，但是其价格相比许多安卓机型还是太贵了。苹果的股价下跌5%。

Koch Industries, a conglomerate, forked out $7.2 billion to buy Molex, which is based in Illinois and makes a wide range of electrical components and connectors used in industrial and consumer products, including the iPhone.

联合公司科赫工业出资72亿美元购买Molex公司。Molex公司总部设在伊利诺伊州，制造一系列用于工业和消费者市场的电器元件和连接器，包括iPhone的器材。

Icahn could not

伊坎不能了

Carl Icahn conceded defeat in his attempt to block the $24.8 billion buy-out of Dell by the computer-maker’s founder, Michael Dell, days before a shareholder vote on the issue. Mr Icahn, a legendary activist investor, had proposed an alternative plan to Mr Dell’s buy-out, which he thinks is undervalued. Mr Dell raised his offer to win over sceptics, leading Mr Icahn to claim that “shareholders would have gotten a lot less if I hadn’t shown up.”

在股东投票表决之前几天，卡尔·伊坎承认其在阻击戴尔的创始人迈克尔戴尔以248亿美元收购戴尔公司的行动中失败了。伊坎先生是具有传奇性的激进投资者，他曾就戴尔先生的收购提出过另一方案，他觉得戴尔先生的出价低了。戴尔先生提高了自己的出价解除质疑，这让伊坎先生宣称如果没有他股东得到的会更少。

Meanwhile, Southeastern Asset Management, Mr Icahn’s ally in his fight with Dell, revealed that it had built a 12% voting stake in News Corporation, making it the publishing group’s second-biggest investor after Rupert Murdoch. Its regulatory filing suggests the investment is “passive”.

同时，伊坎先生与戴尔斗争的盟友东南资产管理公司透露，它已经持有新闻集团12%的股份，使其成为仅次于鲁伯特默多克的新闻集团第二大投资者。其监管文件显示这次投资是被迫的。

The Committee on Foreign Investment in the United States, which assesses the risks to national security from foreign takeovers, gave its approval to the $4.7 billion offer for Smithfield Foods from China’s Shuanghui. When approved by shareholders it will be the biggest acquisition of an American company by a Chinese one, and create a global beast in pork products. Some American politicians had raised concerns about Chinese food-safety standards.

美国外贸投资委员会作用是评估外国收购对国家安全带来的风险，同意中国的双汇以47亿美元的价格收购史密斯菲尔德食品公司。一旦经过股东同意，这将成为中国公司对美国公司最大的一次收购，并建立全球最大的猪肉生产公司。一些美国政客提出了对于中国食品安全标准的担忧。

An investigation into allegations of corruption in the office that handles compensation claims for the 2010 BP oil spill found no wrongdoing among its senior management, and concluded that the processing of “honest” claims should continue. But the report, written by Louis Freeh, a former director of the FBI, also described the co-operation between some staff in the office and lawyers for the victims of the spill as “problematic”, and possibly causing a “conflict of interest”.

关于2010年英国石油公司漏油事件处理赔偿过程中办公室腐败指控的调查没有发现其高管的不当行为，并得出结论，应继续诚实处理赔偿。但是由FBI前探员Louis Freeh给出的书面报告也提到有些员工和受害人律师之间的合作有问题，可能引起利益冲突。

TSB returned to the British high street as a stand-alone bank, 18 years after being merged with Lloyds. Following its bail-out by the British government Lloyds was ordered by the European competition authority in 2009 to sell off assets in retail banking. TSB has been rebranded and is handling the accounts of 5m customers moved over from Lloyds. Lloyds will float TSB on the stockmarket next year.

在被劳埃德并购18年之后，TSB作为一家独立银行重返英国市场。随着英国政府对其纾困，2009年欧洲竞争委员会命令劳埃德卖掉其零售银行资产。TSB已经重塑品牌，正在处理由劳埃德转移过来的500万消费者账户。劳埃德明年将会将TSB上市。

Top hats and tails

上层人士 

An ongoing study of income distribution found that the richest 1% in America took 19% of national income last year, their biggest share since 1928. The top 10% of earners held a record 48.2%. During the recovery between 2009 and 2012 real family incomes rose by an average of 4.6%, though this was skewed by a 31.4% increase for the top 1%. For the other 99% incomes rose by just 0.4%.

一个正在进行的收入分配研究发现美国最富有的1%的人占国民收入的19%，这是自1928年以来的最大比例。收入最高的10%的人群占创记录的48.2%的收入。在2009年到2012年经济复苏阶段，真正的家庭收入平均上升4.6%，不过，这是被收入最高的1%的人群拉高了。剩下的99%的人群收入只增加了0.4%。

Three companies are to be chucked out of the Dow Jones Industrial Average and three companies are joining, in the biggest shake-up of the stockmarket index in a decade. Alcoa, Bank of America and Hewlett-Packard are leaving, to be replaced by Goldman Sachs, Nike and Visa. The DJIA is composed of just 30 stocks and is price-weighted, so dearer shares count for more. The share prices of Alcoa, BofA and HP have tumbled over the past five years.

三家公司被赶出道琼斯工业平均指数，同时有三家公司加入该指数，这是十年来该指数最大的变动。美国铝业公司，美国银行和惠普都即将离开，代替他们的是高盛，耐克和Visa。道琼斯工业指数仅仅由30支股票组成，采取价格加权，所以昂贵的股份数居多。美国铝业公司，美国银行和惠普的股价过去五年一直在跌。

Japan’s economy grew at a much faster rate in the second quarter than had been thought, because of more corporate and public investment. A revised estimate put the pace of growth at 3.8% at an annual rate, up from the 2.6% initially reported.

日本二季度经济增长快于预期，由于更多的公司和公共投资。年化增长率由最初公布的2.6%被调整为现在的3.8%。

Health conscious

关注健康

Suntory, a Japanese company that sells a range of alcoholic and soft drinks, agreed to buy the Lucozade energy-drink and Ribena fruit-juice brands from GlaxoSmithKline, a British drugs company, for ￡1.35 billion ($2.1 billion). Both beverages are popular in Britain and elsewhere, and were marketed from the 1920s to the 1980s as aids to boosting health (Ribena) or recovery from sickness (Lucozade).

日本的酒精及软饮料销售公司三得利同意以13.5亿英镑（21亿美元）的价格从英国药品公司葛兰素史克公司购买葡萄适能量饮料和利宾纳果汁品牌。上述两种饮料在英国和其他一些地区很受欢迎，从1920年到1980年之间作为促进健康（利宾纳）和从疾病中恢复（葡萄适）的辅助手段流通于市场。