Business this week
本周经济要闻
Pfizer called off its $160 billion merger with Allergan after the US Treasury proposed new rules that would severely curtail the benefits of “inversion” takeovers (where an American company buys a foreign one in order to reduce its corporate-tax bill). Allergan is listed in New York but has its corporate headquarters in lower-taxed Ireland, which is where Pfizer would have based the newly combined company. Such deals have become politically toxic in America, but the White House denied that the new regulations were intended specifically to scupper the Pfizer-Allergan deal.
继美国财政部颁布新规,将严厉打击“税收倒置”收购(即美国企业收购外国企业到达减税目的),辉瑞制药(Pfizer)已中止与艾尔建(Allergan)1600亿的并购交易。艾尔建的注册地在纽约,但其总部却位于税率更低的爱尔兰,原本辉瑞制药打算将合并后的公司总部也设在爱尔兰。如今,凡涉及类似倒置收购的并购交易在美国都已经不可行了,不过白宫方面否认新规有针对辉瑞-艾尔建这起并购交易的意思。
America's Justice Department filed a lawsuit to stop the $25 billion merger of Halliburton and Baker Hughes, the world's second- and third-largest oilfield-services companies, citing antitrust concerns. The merger was announced in November 2014 but opposed by some big oil companies. They worried that diminished competition in oil services would put a further squeeze on profits already hit by the fall in oil prices.
美国司法部提起反垄断诉讼,意图阻止油田服务商哈里伯顿(Halliburton)以250亿美元收购贝克休斯(Baker Hughes)(哈里伯顿和贝克休斯分别是世界第二,第三大油田服务公司)。两公司于2014年11月宣布合并,当时遭到一些大型石油公司的反对。它们担心石油服务行业竞争压力的削弱会进一步挤压原本就因油价下跌而减少的利润空间。
The share prices of big French telecoms companies plunged following the collapse of a 10 billion ($11.4 billion) merger between Orange (formerly France Telecom) and Bouygues. The negotiations failed to resolve differences over the value of the deal and the French government's 23% stake in Orange.
Orange(前法国电信)收购布依格电信(Bouygues)的计划无疾而终,紧接着法国各大电信公司的股价均大幅下跌。就法国政府在Orange23%的股份问题以及100亿欧元(合约114亿美元)的收购价问题,双方进行了谈判,但最后以失败告终。
The Reserve Bank of India cut its benchmark interest rate from 6.75% to 6.5%, the lowest it has been in five years. Inflation, usually a headache for the central bank, has eased.
印度央行将基准利率从6.75%下调至6.5%,创5年来最低水平。常令央行头疼的通胀压力得到缓解。
A new “fiduciary rule” on financial advice was published by the American government. From now on almost anyone giving investment advice will be required to act in the “best interest” of their clients. They previously had to ensure they were giving only “suitable” advice.
美国政府颁布一项针对金融顾问的“信托人新规”。从现在起,几乎所有为他人提供投资建议的金融顾问都必须以客户利益为重。从前他们必须只确保提供“合适”的建议。
Checking out
安邦保险退出喜达屋竞购战
Anbang, a Chinese insurance company that has been buying hotel assets overseas, dropped its bid for Starwood Hotels, which counts the Sheraton and Westin chains among its brands. Marriott had already struck a deal to take over Starwood before Anbang launched its rival offer.
中国保险公司安邦保险退出喜达屋竞购战(安邦保险一直在对海外酒店进行收购),后者旗下囊括喜来登、威斯汀连锁等酒店品牌。在安邦保险涉足竞购喜达屋之前,万豪酒店就已与喜达屋达成相关收购协议。
A flutter of consolidation among America's smaller airlines looked likely after Alaska Airlines agreed to buy Virgin America in a $4 billion deal. The new carrier will become America's fifth-largest. Virgin America was started by Richard Branson in 2004.
阿拉斯加航空(Alaska Airlines)同意以40亿美元收购维珍航空(Virgin America),合并成美国第五大航空公司。本次收购很可能迫使其他小型航空公司间出现合并潮。维珍航空由理查德·布兰森(Richard Branson)于2004年创立。