Business this week
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.
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.
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.
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.
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.
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.
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。
1.in order to 为了
例句:In order to ensure success we must have a complete and thorough plan.
2.intend to 打算
例句:We intend to appeal the verdict.
3.oil price 石油价格
例句:The oil companies have lost their power over oil price and oil production.
4.interest rate 利率
例句:The Finance Minister has renewed his call for lower interest rates.