经济学人丨本周商业 | 2017.08.24 | 总第1011期

摘要: 导读商业,是一种有组织的提供顾客所需的商品与服务行为。大多数的商业行为是通过以成本以上的价格卖出商品或服务来



Business this week


Aug 24th 2017  

After toying with the idea for months, BHP Billiton decided to seek a buyer for its shale-oil business in America. The Anglo-Australian mining company bought assets in America’s shale fields during the boom in 2011, but that left it vulnerable to the slide in oil prices that started three years ago. A campaign by Elliott, an activist hedge fund, urged BHP to sell the business. It is also replacing two directors.?


Another company that is getting out of oil in order to refocus on its core business found a buyer for its assets. After more than half a century in the energy industry, A.P. Moller-Maersk, the world’s biggest shipping line, is selling its oil holdings to Total of France for $7.5bn.


A rare defeat for the sage


Elliott chalked up another victory this week when Warren Buffett failed to buy Energy Future Holdings, which owns a majority stake in Oncor, the biggest electricity distributor in Texas. Elliott, which is EFH’s biggest creditor, opposed a sale to Mr Buffett’s Berkshire Hathaway. EFH is selling itself instead to Sempra Energy in a transaction valued at $18.8bn.

Elliott本周又取得一个胜利。巴菲特收购未来能源公司失败。这个公司拥有德克萨斯最大电网公司Oncor绝大部分的股份。Elliott作为EFH最大的董事,反对出售给巴菲特的Berkshire Hathaway公司。EFH转而将自己以188亿美元的价格卖给了Sempra Energy 。

A court in Russia ruled in favour of Rosneft, a state-controlled oil giant, in its dispute with Sistema, a publicly traded conglomerate, over an oil firm that Sistema had once owned and Rosneft subsequently bought from the state. Rosneft was awarded 136bn roubles ($2.3bn) in damages for its claim that Sistema had inappropriately restructured the firm. Sistema said the case had been “one-sided”.


Vishal Sikka resigned as chief executive of Infosys following a spat with Narayana Murthy, one of the founders of the Indian IT-services company. Mr Murthy has criticised the leadership at Infosys ever since stepping down as chairman in 2014, when Mr Sikka was appointed as the first CEO who was not one of the company’s seven founders. The board laid the blame on Mr Murthy for the resignation, saying his sniping had been a “continuous assault” on Mr Sikka. See article.

Vishal Sikka辞去了其在Infosys公司的行政长职务,在与印度IT服务公司创始人之一Narayana Murthy发生口角之后。Narayana Murthy指责Infosys公司的领导水平从2014年Sikka任首位ECO以来逐步下降。Sikka不是公司七位创始人之一。董事会将辞职的责任归咎于Mr Murthy,称其诽谤造成了对Mr Sikka的连续攻击。(见文章)

Herbalife announced a $600m share buy-back, after disclosing that talks to take the food-nutrition firm private had fallen through. News that it could have been sold sent its share price soaring, a blow to William Ackman, an activist investor who thinks Herbalife’s business model is a pyramid scheme (which Herbalife denies) and has spent $1bn betting that its share price will collapse.

在将食品营养公司私有化的计划落空之后,Herbalife宣布了一个6亿美元的回购。它可能出售的消息使其股票价格飙升,这打击到了一个积极投资者William Ackman。William Ackman认为Herbalife的商业模式是一个金字塔式模式(Herbalife否认这个说法)而且他花了一亿美元打赌它的股票价格会暴跌。

  • fallen through:落空

It’s electrifying  


In a surprise move, the Brazilian government said it would privatise Eletrobras, Brazil’s biggest power utility, in what could be the country’s most lucrative privatisation since the 1990s. The government did not say how much of its controlling stake will be sold, but investors were happy: the benchmark Ibovespa stockmarket index reached a seven-year high.


  • privatise:私有化

  • power utility: 电力公司

The euro bounced back against the dollar and hit an eight-year high against the pound. The currency had dipped after the release of the minutes from the latest meeting at the European Central Bank, which highlighted its concern that the euro’s appreciation could complicate the euro zone’s recovery.


  • bounced back:反弹

  • Dipped :浸泡,下降

Digital delivery  


Striving to fend off competition from Amazon, Walmart’s website sales rose by 60% in the three months ending July 31st compared with the same quarter last year. Since the appointment of Marc Lore, an internet entrepreneur, as head of e-commerce, Walmart has gone on its own shopping spree, snapping up online retailers. This week Mr Lore announced that Walmart had teamed up with Google to offer voice-activated shopping through Google Assistant.

努力抵挡亚马逊,沃尔玛网络销售与去年同季度相比这三个月来上升了60%,截止七月三十一日。自从任命了一家网络公司Marc Lore作为电子商务主管之后,沃尔玛继续了它的疯狂销售,在线零售商抢购。Mr Lore这周宣布沃尔玛已经和谷歌合作,利用谷歌服务提供声控销售。

  • spree:疯狂

  • voice-activated:声控的

The European Commission launched an antitrust probe into Bayer’s proposal to merge with Monsanto. The $66bn offer, which Bayer first submitted in May last year, is one of the biggest deals in a wave of consolidation that has swept the agribusiness industry. Last month the companies presented a plan to European officials to allay concerns that the merger would restrict competition, but the commission says it still has “serious doubts”. It has until January to decide.


  • Merge:合并

  • Agribusiness:农业综合企业

The share price of WPP fell sharply after it forecast a dramatic slowdown in sales. The world’s biggest advertising company said that amid cut-throat competition, consumer-products firms, the mainstay of its business, were curtailing their spending on marketing.


  •  Curtailing:减少

Coca-Cola and PepsiCo were two of seven companies that pledged to reduce the sugar content of their soft drinks to 12% or less in Singapore. It is thought to be the first time an Asian government has secured a voluntary agreement of this sort with the industry. Singapore has one of the highest proportion of diabetics in the world.


  • Pledged :保证,承诺

  • diabetics :糖尿病患者

翻译 ▍ww

审核 ▍竞风之翼

图文编辑 ▍澜意

责任编辑 ▍毛毛

Try to translate 

 The currency had dipped after the release of the minutes from the latest meeting at the European Central Bank, which highlighted its concern that the euro’s appreciation could complicate the euro zone’s recovery.

Put Chinese below








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