楼主:健康社区 时间:2020年01月22日 03:47:17 点击:0 回复:0
With markets experiencing a rout that seems out of all proportion to the economic data — do we really expect a global recession on the back of a 3 per cent devaluation of the Chinese currency? — investors are hoping that policymakers will step in and restore some calm.全球市场正在经历一场似乎与经济数据不相匹配的溃败——我们真的认为在人民币贬值3%之后会发生一场全球经济衰退吗?投资者希望政策制定者介入,让市场恢复些许平静。Unfortunately, it is hard to see how, exactly. In most developed economies, fiscal policy remains relatively tight (the eurozone and even the US) or indeed needs to get tighter (Japan), while interest rates are still at rock bottom levels. That leaves little scope for providing much global stimulus.遗憾的是,目前很难看出政策制定者该怎么做。在多数发达经济体,财政政策仍然相对较紧(欧元区、甚至美国)或者确实需要收紧(日本),同时利率仍然处于最低水平。这几乎没有留下什么余地来让他们推出全球刺激措施。Worse, expectations of rising US rates are preventing many emerging markets from adopting desperately needed counter-cyclical monetary policy.更糟糕的是,对美国加息的预期正阻碍着很多新兴市场采取亟需的反周期货币政策。Many commodity exporters, for example in Latin America, would ideally like to reduce interest rates to offset the impact of lower exports on growth, but are instead facing the prospect of rises as they are forced to “follow the Fed”.本来在理想情况下,很多大宗商品出口国(例如拉丁美洲国家)应该会乐于降息来抵消出口下滑对经济增长的影响,但是相反,它们正面临加息的前景,因为它们不得不“追随美联储(Fed)”。Granted, most of these countries are letting their currencies depreciate — either happily or with some attempts to smooth the drop — and this should help growth. But there is also a pass-through to inflation, which imposes a further constraint on lowering rates.诚然,无论是乐意地还是怀揣着一些缓和经济下滑的意图,多数大宗商品出口国正在进行货币贬值,并且这应该会有助于经济增长。但是这也会导致通胀,对降息形成进一步限制。And in cases where there are political risks, or inflation is aly high for domestic reasons, central banks are being forced to raise rates however dismal the domestic economy — Brazil, Russia and, to a lesser extent, South Africa are all caught in this trap.而在存在政治风险、或者通胀水平已经因国内原因而处于高位的国家,无论国内经济如何低迷,其央行都在被迫加息——巴西、俄罗斯、还有程度较轻的南非,均陷于此种困境之中。That is not to say policymakers are completely powerless.这并不是说政策制定者完全无能为力。In China, the trigger for this market meltdown, investors are looking for loud and clear signals from officials in the form of liquidity injections into the domestic economy. To be fair, the People’s Bank of China has been doing a fair bit of this in the past few days through reverse repos and its open market operations; but what markets are really looking for is a cut in required reserve ratios to help the commercial banks.在触发此轮全球市场下跌的中国,投资者正在等待官方以向国内经济注入流动性的方式释放响亮而明确的信号。平心而论,过去几天,通过逆向回购和公开市场操作,中国央行已经采取了相当多这方面的行动;但是市场真正想要的是央行下调存款准备金率来帮助商业。(注:中国央行于周一宣布再次降息降准。)Such RRR cuts are indeed likely to come — and soon — but the reason the central bank has been hesitating is that it fears a lot of the capital that will be released this way will simply escape abroad, putting more pressure on the renminbi, which the authorities have been trying to stabilise again after guiding it weaker two weeks ago.此类降准确实很可能到来——而且会很快到来——但是令央行一直迟疑的原因是,担心通过这种方式释放的资金中会有大量直接逃往海外,对人民币施加更大压力。在两周前引导人民币走低后,当局正试图再次稳定人民币汇率。Capital outflows would also tighten domestic liquidity, offsetting the whole point of the RRR cuts in the first place.资本外流也会造成国内流动性紧张,抵消起初降准的全部意义。Still, at this point, any kind of decisive action by Beijing would be greeted with applause by investors who are adjusting not only to lower growth expectations out of the mainland but also to the fact that the leadership’s aura of bureaucratic competence has been shattered following its cack-handed interventions in the stock market and the currency.不过,此时,北京方面的任何果断举动都会受到投资者的欢迎。投资者不仅正在适应内地增长下滑的预期,而且也在适应另一种情况——在笨拙地干预股市和汇率之后,领导层官僚能力的光环已经被打破。From the US central bank, by contrast, markets are looking for a lack of action: pricing for “lift-off” in September is now down to only about 30 per cent, in the belief that lower global growth and accelerating disinflation (just look at the oil price) will stay the Fed’s hand... well into 2016.相比之下,对于美联储,市场想要的是不作为:市场对9月加息几率的估计如今已经降至仅仅30%左右,他们相信全球增长下滑以及反通货膨胀(disinflation)加速(只需看看油价便知)将令美联储按兵不动……也许会推迟到2016年。They may be disappointed on this front as well. The Fed makes policy with the domestic economy in mind and the US is doing pretty well just now, particularly its labour market.在这一方面,他们可能也会失望。美联储制定政策时考虑的是国内经济,而美国眼下的情况相当好,特别是其劳动力市场。Of course, the bank will take financial dislocations into account, but it will not be ruled by them. And precisely because it is trying to rebuild interest rates so that it can respond again in a future recession or crisis, there is an inbuilt desire at the Fed to lift off, at least cautiously.当然,美联储也会考虑金融动荡,但是不会受这些情况的左右。正是因为美联储正试图重建利率,好在未来发生衰退或危机时有能力再次应对,美联储有内在的加息愿望,至少是谨慎加息。Nor do Janet Yellen amp; co want to signal any concerns over US growth by holding off.珍妮特耶伦(Janet Yellen)等人也不想因为按兵不动而释放出对美国经济增长有所担忧的信号。With luck, we will look back at the current sell-off as just another bout of nerves in August. But perhaps the real lesson should be that policymakers are not all powerful and also rather human in their capacity to make mistakes. And that markets cannot rely on them to come to the rescue.幸运的话,当我们未来回头再看时,会把当前的抛售看作是8月的一波神经紧张。但是,也许真正的教训应该是,政策制定者并非无所不能,他们也是人也会犯错误。市场不能依靠政策制定者来出手相救。 /201508/395594The banana wars are back on. The merger of Chiquita and Fyffes to create the world’s biggest banana company was gatecrashed yesterday by two of Brazil’s wealthiest families.香蕉大战正再次打响。奇基塔(Chiquita)与Fyffes缔造全球最大香蕉企业的合并计划,昨日遭遇巴西两个最富有家族的搅局。Brazilian billionaire Joseph Safra and Cutrale, the family-owned orange juice maker, offered to acquire US group Chiquita in a 0.5m cash deal that rivals a previous all-stock agreement with Ireland’s Fyffes.巴西亿万富翁约瑟夫#8226;萨福拉(Joseph Safra)和家族所有的橙汁制造商Cutrale,提出以6.105亿美元现金收购美国公司奇基塔,这与此前爱尔兰Fyffes的全股票并购协议形成竞争。Cutrale and Mr Safra’s investment group offered per share to Chiquita shareholders, a 29 per cent premium to Chiquita’s closing price on Friday. The Brazilians hope the offer will be accepted this week.Cutrale和萨福拉的投资集团提出向奇基塔股东付每股13美元,较奇基塔上周五收盘价存在29%的溢价。他们希望奇基塔将在本周接受这一出价。The offer comes just as Chiquita and Fyffes are closing the merger they announced in March in a move to become the top grower of the world’s most widely-produced fruit.奇基塔和Fyffes正要敲定双方于今年3月宣布的合并交易,缔造全球最大香蕉种植企业,香蕉是全球种植最广的水果。Together, the market value of Chiquita and Fyffes would be close to bn. The deal would be structured as a so-called tax inversion, allowing Chiquita to take advantage of Ireland’s lower tax rates.奇基塔和Fyffes合并后的市值将接近10亿美元。这笔交易在结构上将采用所谓的税收倒置(tax inversion),使奇基塔能够利用爱尔兰较低的税率。In a letter to Chiquita’s chief executive and chairman, Cutrale and Safra said they would complete the deal within the same timeframe as the Fyffes transaction “without the execution risk and uncertainty inherent in that transaction”.在写给奇基塔首席执行官和董事长的一封信中,Cutrale和萨福拉表示,他们将在与Fyffes交易相同的时间框架内完成交易,同时“不会出现那笔交易内在的执行风险和不确定性”。Mr Safra, one of Brazil’s wealthiest bankers, and the Cutrale family have been eyeing the deal for a while but had been waiting for lawsuits against Chiquita over militia killings to be dropped, people close to the deal said. Over 4,000 Colombians had tried to sue Chiquita for funding a paramilitary group that tortured and killed their relatives during the country’s bloody civil war. But a US court dismissed the lawsuit two weeks ago, saying it did not have jurisdiction over the case.萨福拉是巴西最富有家之一。知情人士表示,萨福拉和Cutrale家族关注这笔交易已有一段时间,但此前一直等待针对奇基塔的涉及民兵组织杀戮的诉讼被撤销。逾4000名哥伦比亚人试图起诉奇基塔,罪名是该公司为一个准军事组织提供资金,而该组织在哥伦比亚血腥的内战期间折磨并杀害他们的亲戚。但一家美国法庭两周前驳回这一诉讼,称其对该案没有司法管辖权。Chiquita has pleaded guilty to making payments to a rightwing paramilitary group but says it was a victim of extortion.奇基塔承认向右翼民兵组织提供资金,但表示该公司是勒索的受害者。Shares of Chiquita surged 30.9 per cent, while Fyffes, which declined to comment, lost more than 14.1 per cent.奇基塔股价飙升30.9%,而Fyffes股价下跌逾14.1%,Fyffes拒绝置评。For Cutrale, the acquisition of Chiquita would help turn the Brazilian group into a global fruits leader. “Cutrale is huge in the orange business but [the Cutrale family] are also in lemons, peaches, apples and soyabeans so this is one more fruit for them,” one person close to the deal said.对于Cutrale而言,收购奇基塔将帮助这家巴西企业变成一家全球领先水果企业。一位了解这笔交易的人士表示:“Cutrale是橙子行业的巨擘,但(Cutrale家族)还经营柠檬、桃、苹果和大豆,因此这笔交易将为他们增添又一种水果。” /201408/320481WASHINGTON — A group of Washington investors with high-level political backing and a billion commitment from the Japanese government is pressing ahead with its vision of a high-speed train that could whisk passengers between New York and Washington in about an hour.华盛顿——一群拥有高层政治背景并已赢得日本政府出资50亿美元(约合300亿元人民币)保的华盛顿投资者正在着手推进他们心中构想的高速列车建设,力图将纽约和华盛顿之间的客运时长缩短到大约一小时。The train, which uses a technology called magnetic levitation, or maglev, to float above the track on magnets instead of wheels, would travel at twice the speed of Amtrak’s Acela. It is one of several high-speed rail projects proposed for the heavily trafficked Northeast Corridor, where chronic traffic congestion and flight delays are expected to get worse.这种列车使用一种名为“磁悬浮”的技术,借助磁力悬浮在轨道上,而非使用车轮。它的行驶速度将达到美铁(Amtrak)阿西乐列车(Acela)的两倍。为了给交通繁忙的东北走廊分担压力,目前出现了数个高速铁路项目的提议,而磁悬浮计划是其中之一。据预计,东北走廊长期的交通拥堵和航班延误现象将进一步恶化。At a total estimated cost of 0 billion, critics say a maglev train on the East Coast is little more than a pipe dream. But that has not stopped the investors from pushing the project.鉴于估算的总花费为1000亿美元,批评人士表示,在东海岸建造磁悬浮列车不过是痴人说梦。不过,这未能阻止投资者去推动这个项目。On a test track in Japan on Tuesday, a prototype train whooshed a group of visiting Americans through mountains at a top speed of 314 miles per hour — so fast, in fact, that Christie Todd Whitman, the former New Jersey governor and one of the Americans on the ride, said trips on Amtrak between Washington and New York were “embarrassing” by comparison.周二,一列原型车在日本的测试轨道上,以314英里(约合505公里)的最高时速载着一群美国客人飞速穿越群山——速度非常之快,以致于此次测试的美国乘客之一、新泽西州前州长克里斯蒂·托德·惠特曼(Christie Todd Whitman)禁不住感叹,相比之下,乘美铁列车往返华盛顿和纽约有些“令人难堪”。To Ms. Whitman, the train is a solution to transportation problems back home, where the Acela — the fastest train in the ed States — takes 2 hours 45 minutes to travel between New York and Washington.在惠特曼看来,这种火车可以解决美国国内的交通问题。在美国,乘坐阿西乐——美国最快的列车——往返纽约和华盛顿,单程需要2小时45分钟。Ms. Whitman is part of a high-powered advisory board for the Northeast Maglev, a private Washington-based company with a goal of building the Washington-to-New York line. The group, which regularly visits Japan to pursue the project and has taken at least three test rides on the train, is trying to convince skeptical American policy makers and investors that the maglev makes financial and political sense.惠特曼是东北磁悬浮公司(Northeast Maglev)一个充满权势人物的顾问委员会的成员。这是一家设在华盛顿的私营企业,其目标是修建华盛顿至纽约的磁悬浮铁路。这群顾问经常前往日本推进项目,而且已至少三次试坐这种火车。他们试图使持怀疑态度的美国决策者和投资人相信,磁悬浮列车在经济和政治上都行得通。The advisory board includes former Gov. George E. Pataki of New York; Tom Daschle, the former Senate majority leader, who also rode on the train in Japan on Tuesday; former Gov. Edward G. Rendell of Pennsylvania; and Mary Peters, who was a secretary of transportation in the George W. Bush administration. Since 2010, the group has spent .4 million lobbying Congress and meeting with state and local officials to build support for the project.该顾问委员会的成员包括纽约州前州长乔治·E·帕塔基(George E. Pataki)、周二也在日本乘坐了火车的前参议院多数党领袖汤姆·达施勒(Tom Daschle)、宾夕法尼亚州前州长爱德华·G·伦德尔(Edward G. Rendell),以及乔治·W·布什(George W. Bush)政府的运输部长玛丽·彼得斯(Mary Peters)。从2010年开始,为了争取对该项目的持,他们已经斥资140万美元来游说国会并与州级和地方官员举行会晤。To try to win public support, the group has commitments from the Japanese government to invest about billion to pay part of the cost of construction of the first leg, an estimated billion route between Washington and Baltimore. The maglev would enable travelers to go between the two cities in as little as 15 minutes.为了尽力赢得公众持,他们获得了日本政府出资50亿美元的承诺。这笔钱将用来付第一段铁路线的部分建设费用。这段铁路将连接华盛顿与巴尔的,预计造价为100亿美元。在磁悬浮技术的帮助下,乘客只需最少15分钟就能在这两座城市之间穿梭。But large obstacles remain.不过,现实中还是存在一些巨大障碍。Given the project’s cost, the maglev company would need support from the federal government, but transportation advocates are skeptical that it will be forthcoming. And the U.S. High Speed Rail Association, which supports more conventional high-speed rail systems, has dismissed the maglev train as too expensive and experimental.由于项目开巨大,东北磁悬浮公司将需要联邦政府提供持,但交通行业的活跃人士对此表示怀疑。持更传统的高铁系统的美国高速铁路联合会(U.S. High-Speed Rail Association)认为,磁悬浮列车过于昂贵且处于试验阶段,不宜考虑。In addition, the maglev company would have to secure rights of way to build the specialized tracks, a serious financial undertaking on some of the most expensive real estate in the country. The company plans to build a large part of its route underground, which would add to the cost.此外,这家磁悬浮公司还必须获得在美国某些最昂贵的地段上修建专用轨道的通行权,而这是一项重大经济负担。公司计划把很大一部分路线建在地下,将令成本进一步增加。But Wayne Rogers, an investor in renewable energy and other projects and chairman and chief executive of Northeast Maglev, said the train makes more sense than current proposals to fix transportation problems in the Northeast, including building more roads and fixing tracks to make Amtrak trains go faster. Adding more highways in the region would increase congestion, he said.然而,东北磁悬浮公司的董事长兼首席执行官韦恩·罗杰斯(Wayne Rogers)表示,和当前为解决东北地区的运输问题而提出的其他建议相比,磁悬浮列车更合理。相关提议包括,修更多公路,以及升级轨道,以便让美铁列车行驶得更快。身为可再生能源等项目的投资人的罗杰斯说,在该地区多修公路会加剧拥堵。As for fixing existing tracks to speed up Amtrak trains, “It’s like putting a Ferrari on the crowded Beltway around Washington: It’s not going to make it go any faster,” Mr. Rogers said.至于升级现有轨道,以便让美铁列车提速,罗杰斯说,“就像把法拉利放在绕华盛顿的环形公路上一样:根本不会让它跑得更快。”(Amtrak has its own plans to provide high-speed rail on the corridor: a 1 billion proposal to upgrade its existing system to make it easier for trains to travel at 220 m.p.h., which would reduce the trip between New York and Washington to about 90 minutes. Congressional critics and some transportation experts have called the proposal too costly.)(在为东北走廊提供高速铁路方面,美铁有着自己的计划:一项耗资1510亿美元的提议要求升级现有系统,以便让列车更易于以220英里的时速运行。这将使纽约与华盛顿之间的交通时间减少到大约90分钟。国会的批评人士和部分运输专家称,该方案成本过高。)Another supporter of the maglev, James P. RePass, chairman of the National Corridors Initiative in Boston, which supports increased federal and private investment in rail projects, said he was previously skeptical of the train project, but has changed his mind.同样持磁悬浮的还有全美走廊倡议组织(National Corridors Initiative)主席詹姆斯·P·里帕斯(James P. RePass)。该组织位于波士顿,提倡联邦和私人增加对铁路项目投资。里帕斯表示,他以前对磁悬浮列车计划持怀疑态度,但现已改变主意。“If you had asked me two years ago, I would have said not a chance,” Mr. RePass said. “But this proposal, which seemed unlikely in the past, is gaining credibility. The reason is that unlike a lot of projects, this one actually has money.”“如果两年前问我,我会说根本不可能,”里帕斯说。“但过去看似不太可能的这个提议,现在越来越可信。原因在于,不同于许多项目,这一个实际上自带资金。”Mr. Daschle, who heads the advisory board for Northeast Maglev, dismisses concerns about the maglev technology.东北磁悬浮公司顾问委员会主席达施勒驳斥了对磁悬浮技术的担忧。“You can’t be a skeptic on the technological side anymore, because it’s been shown to work,” he said after his ride on the train.“你无法再在技术方面质疑了,因为它已经被明是可行的,”他在试坐完磁悬浮列车后说。Mr. Rogers said the company was moving ahead with its plans: It has filed an application with the Maryland Public Service Commission to transfer the franchise rights of the defunct Washington Baltimore amp; Annapolis railroad to Northeast Maglev, the first step in getting the project off the ground. The company will need additional approvals from the Surface Transportation Board and the Federal Railroad Administration. Without the transfer of the franchise rights, the company would have to ask the Maryland General Assembly to approve a new franchise agreement, a process that could take years.罗杰斯表示,公司正在推进自己的计划:它已向马里兰州公共务委员会(Maryland Public Service Commission)递交了申请,请求将现已停止务的华盛顿至巴尔的再到安纳波利斯铁路的特许经营权转让给东北磁悬浮公司。这是启动项目的第一步。公司另外还需获得地面运输委员会(Surface Transportation Board)和联邦铁路(Federal Railroad Administration)的批准。如果不能通过转让获得特许经营权,公司将不得不提请马里兰州议会批准一项新的特许经营协议。这一步可能需要花费数年时间。“We can’t wait around until political and financial conditions are perfect,” Mr. Rogers said. “The transportation infrastructure on the Northeast Corridor is in bad shape. We need to get moving.”“我们不能一直等到政治和财务状况都完备,”罗杰斯说。“目前东北走廊的运输基础设施状况很糟糕。我们需要行动起来。” /201410/337770Smokers in the developed world are out in the cold. Regulators have moved smoking from bars into streets; advertising has moved from screens to, at best, still pictures. Two years ago, Australia introduced “plain” packaging – adorned with such gruesome warnings that the adjective hardly fits.发达世界的烟民受到了冷落。监管机构已迫使吸烟者从酒吧转战街头,烟草广告也从屏幕上转移到至多是静止的图片上。两年前,澳大利亚还推出了香烟的“平装”包装,但包装上印制的可怕警示可一点儿也不“平淡”。Yet the stocks have done well. Since late 2008, the top five names in the sector have returned between 144 per cent (Imperial) and 347 per cent (Altria). Most tobacco companies have beaten the 130 per cent return of the MSCI World index. Such resilience may be ending.然而,烟草公司的股票表现不错。自2008年末以来,5大烟草公司的股价回升幅度在144%(帝国烟草(Imperial))至347%(奥驰亚(Altria))之间。大多数烟草公司的股价超过了根士丹利资本国际全球指数(MSCI World Index) 130%的涨幅。这样的强韧表现可能要结束了。This week China, home to 300m smokers and accounting for a third of the world’s tobacco use, according to Euromonitor, announced a ban in Beijing’s indoor public spaces, to commence in June.本周,北京市政府宣布,从明年6月起,北京室内公共场所将全面禁止吸烟。欧睿信息咨询公司(Euromonitor)的数据显示,中国有3亿烟民,贡献了全球三分之一的烟草消费量。The Chinese market is dominated by state-owned enterprises and counterfeit goods, so the direct impact on multinationals will be small. But the message is clear. Growth will become harder to find, even in the emerging world.中国市场由国有企业和假冒伪劣产品主导,因此控烟令对跨国公司的直接影响将会很小。但它传递的信息是明确的。烟草行业将更难找到增长机会,即便在新兴世界。Last year, tougher regulations hit developed-market volumes and even pricing – often hidden behind tax rises – is softening a bit.去年,更为严厉的监管打击了发达市场的销售量,甚至定价(通常隐藏在加税背后)也有所松动。So far this year, both Japan Tobacco and Philip Morris International have seen sales declines accelerate in previously reliable markets such as eastern Europe.今年迄今以来,日本烟草(Japan Tobacco)和菲利普莫里斯国际公司(Philip Morris International)在东欧等之前可靠市场的销售全都加速下滑。Forecasts are faltering: expected earnings per share have fallen about one-tenth as the year has progressed. Typical is Philip Morris, with 70 per cent of sales in emerging markets. Since its 2008 spin-off from US-focused parent Altria, the company has achieved annual earnings per share growth of one-tenth. This year, growth will fall 6 per cent.预期也很惨淡:随着时间的推移,预期每股收益下降了十分之一左右。70%的销售来自新兴市场的菲利普莫里斯国际公司尤为典型。自2008年从其专注于美国市场的母公司奥驰亚拆分出来之后,该公司的每股收益每年增长10%。今年其每股收益将同比下降6%。Japan Tobacco and British American have a similar tale of woe. And yet the stocks are not cheap, on mid-teens multiples of 2015 EPS.日本烟草和英美烟草公司(British American)同病相怜。然而,它们的股价并不便宜,2015年的预期市盈率达到15倍左右。These companies generate lots of cash. Their dividends look safe. But weaker profits could cut into share buybacks. These have long been a key reason to invest in Philip Morris shares.这些公司产生了大量的现金。它们的股息发放看起来没有问题。但利润下降可能影响到股票回购。股票回购长期以来一直是投资者买入菲利普莫里斯股票的关键原因。British American had been ramping up buybacks, until its recent investment in Reynolds American. Quitting will be hard.英美烟草公司在最近投资于雷诺烟草(Reynolds American)之前一直在加大股票回购力度。退出将很艰难。 /201412/346753

Paris aims to become #39;world bike capital#39;巴黎计划成为;世界自行车之都;Paris is to double the number of cyclinglanes by 2020 as part of its Socialist mayor#39;s push to turn the city into;the world#39;s bike capital;.隶属社会党的巴黎市长力争将巴黎打造为;世界自行车之都;,其中一项计划是到2020年,巴黎的自行车道长度将是目前的两倍。The 150 million-euro project will increasethe number of safe bike lanes from the current 700 kilometres (435 miles) to1,400 kilometres within five years.该项目耗资1.5亿欧元,计划在五年内将巴黎现有的700公里安全自行车道扩展至1400公里。Paris town hall hopes the new lanes willhelp triple the number of journeys made on a bike from five percent to 15percent in that time.巴黎市政厅希望,届时新增的自行车道将使巴黎市民的自行车出行率在现有基础上增加两倍,由5%增至15%。The new ;express network; forbikes will introduce protected cycling lanes on major avenues throughout thecity, including the banks of the Seine, separated from the traffic.新的自行车;快线网络;将在巴黎城区各主要干道开辟出与道路交通隔离开的安全自行车道,塞纳河沿岸也包括在内。;We think that there are people yto cycle but don#39;t do it due to a sense of not being safe,; saidChristophe Najdovski, Green deputy mayor in charge of transport.;在我们看来,有不少市民想要骑自行车出行,但是出于安全方面的担忧而放弃了这一想法。;巴黎市负责交通事务的副市长、绿党成员纳杰多维斯基说。;This plan will create a new form oftourism in Paris which is booming elsewhere,; he said.他表示:;这一计划将开创巴黎的一种新的旅行方式,这种方式在其他地方已经开始蓬勃发展。;The plans also include increasing thenumber of two-way cycling lanes on smaller roads where the speed limit formotorists will be limited to 30km/h. Among the new cycle lanes will be onealong the notoriously dangerous Champs Elysees. Some 10,000 bike parking spaceswill be added.该计划还包括在一些较窄路段增设双向自行车道。在这些路段行驶的机动车辆时速将限制在30公里。新增自行车道中,还包括一条公认的危险路段--香榭丽大街。巴黎还将新建约1万个自行车停车位。City hall intends to ramp up cyclingclasses and repair workshops to get Parisians on their bikes.市政厅还计划开设自行车课程,增加自行车修理间,鼓励巴黎市民骑车出行。Paris#39; famed bike rental scheme;Velib; is going from strength to strength, with some 283,000subscribers and 40 million individual rentals this year aly.巴黎著名的自行车租赁务;Velib;发展势头日益强劲。今年,;Velib;已拥有注册用户28.3万人,个人租车已达4000万次。The city is now considering introducingelectric bikes for hillier parts like Montmartre.目前,巴黎正在考虑在蒙马特等多山地区引进电动自行车。The plans come days after Paris sufferedworrying pollutions levels that briefly topped Shanghai, according to oneweather agency.一家气象机构表示,近期,巴黎的污染级别曾令人担忧,曾一度赶超上海。其后数天,巴黎自行车计划就诞生了。 /201506/382092

A silver and blue ATM, perched up next to the espresso bar in a trendy Vancouver coffee shop, could launch a new era for the virtual currency bitcoin, offering an almost instant way to exchange the world#39;s leading virtual money for cash.The value of a bitcoin soared from in January to a high of 6 in April as more businesses and consumers used them to buy and sell online. Some investors are also treating bitcoins like gold, using them to hedge against currency fluctuations and speculating on their rise.在温哥华一家时髦的咖啡店内,一台机身主体颜色为银色和蓝色的比特币机被放置在意式咖啡机旁,此机器可以为比特币这种全球领先的虚拟货币提供即时兑换业务,可能为其开辟新纪元。由于不少商家和消费者开始使用比特币在网上进行交易,比特币的兑换价格由一月的13美元迅速上涨至四月的266美元。一些投资者将比特币视为黄金,用其对抗货币的通胀以及进行投机行为。The kiosk, which looks like the average ATM but with hand and barcode scanners, opened for business on Tuesday and by mid-morning people were lined up to swap their bitcoins for cash, or to deposit cash to buy more bitcoins.这一取款机从外表上看与普通的取款机并无差异。不过,该机器配置手掌和条形码扫描仪,以满足消费者进行比特币兑换现金以及用现金购买比特币的需求。据悉,该机器推出当天上午就有许多人排队前来办理业务。;It#39;s as easy as walking up to a machine, scanning your hand, entering some cash and buying bitcoin,; said Jordan Kelley, chief executive of Las Vegas-based Robocoin, the company that builds the ATMs. ;With this, it#39;s a 2-minute process. For any online exchange, it#39;s at least two days.;总部在的该机器制造商Robocoin的首席执行官乔丹?凯利指出,“只要走到机器前扫描手掌,放入现金就能兑换比特币,就是这样简单。通过这台机器进行业务操作两分钟就可以完成,而网上交易要至少用两天的时间。”Bitcoins, currently worth about 0 each, can be transferred without going through banks or clearing houses, thereby cutting fees. Users can buy products and services online or in a handful of stores, including the Waves coffee shop where the ATM is located.比特币现在的兑换价值是210美元,人们不用去和清算公司也能转账,因此减少了额外的费用。消费者在网上或少数商店内可以使用比特币消费,包括放置比特币ATM机的海浪咖啡店。With the bitcoin ATM, users scan their hand to confirm identity, then funds move to or from a virtual wallet on their smartphone. The system limits transfers to ,000 a day, in an effort to curb money laundering and other fraud.使用比特币ATM机时,消费者要进行手掌扫描,以确认身份,然后再通过智能手机的虚拟钱包进行转账。该系统每天的交易上限为1000美元,其目的在于打击洗钱行为以及其他虚假操作。Bitcoiniacs, the local dealer that operates the ATM, will roll out four other kiosks across Canada in December. Robocoin said Canada was the ideal place to launch the kiosk due to a critical mass of users and less stringent oversight than in the US, where the bitcoin trade is monitored by anti-money laundering regulators.负责运营该机器的加拿大本地交易商Bitcoiniacs称,其他四台机器计划于12月在加拿大境内面世。而Robocoin称,加拿大推出比特币ATM机,是因为该地区使用比特币活跃,且监管较轻松。在美国,比特币交易由反洗钱机构监管。;We think the Vancouver market is enormous and we#39;re excited to be here,; said Kelley. ;By the end of 2013, we#39;ll be all over Canada. By the end of 2014, we#39;ll be all over the world, including the US.;凯利称,“我们对温哥华庞大的市场前景充满期待。2013年末我们将在加拿大全面推广这种比特币ATM机,2014年末将推广至全球,包括美国在内。”Bitcoin is not a recognised currency in Canada, so Ottawa#39;s anti-money laundering watchdog, the Financial Transactions and Reports Analysis Centre, does not monitor its trade.比特币在加拿大并不是公认的货币,因此渥太华反洗钱监管机构——金融交易和报告分析中心不对比特币交易进行监管。However, Bitcoiniacs#39; founders say they are working with the agency to be y for when Canada does start regulating them.然而Bitcoiniacs的创始人称他们正与经销商合作以做好应对加拿大对比特币监管的准备。;We#39;re aly being proactive in our business,; said Bitcoiniacs co-founder Mitchell Demeter. ;We abide by any guidelines they would impose - which includes the #39;know your customer#39; laws and anti-money laundering laws.;“我们现在对自己业务的积极性很高”,Bitcoiniacs的联合创始人米歇尔?迪米特称,“我们将遵守所有条例,包括‘了解客户’的规定和反洗钱法”Bitcoins were launched in 2008 and are traded within a global network of computers. They are not backed by a single company or government, but their release is tightly controlled, mimicking a central banking system#39;s control over the minting of money.比特币于2008年推出,在全球互联网中进行交易。虽然没有获得任何公司或国家的持,但由于其仿照中央系统发行比特币,因此监管较为严格。Bitcoins can be bought with near anonymity, which supporters say lowers fraud risk and increases privacy. But critics say that also makes bitcoins a magnet for drug transactions, money-laundering and other illegal activities.比特币几乎可以匿名交易,其持者称这样可以降低虚假操作的风险,增加个人隐私。但反对者称这样会吸引更多的人用比特币进行毒品交易,洗钱和其他违法活动。The currency#39;s reputation took a hit this month, when US regulators shut down Silk Road, an online marketplace used to buy and sell illegal drugs, and seized .6m (£2.3m) in bitcoins.本周比特币的名声受到了打击,美国监管机构关闭了丝绸之路网站并没收其360万比特币(合230万英镑),因其涉及网络毒品交易。But the virtual currency is gaining hold among businesses and consumers, a key step to a bigger role.然而商家和消费者力挺虚拟货币,未来它将扮演更加重要的角色。;I think it#39;s definitely going mainstream,; said Demeter. ;I think as things progress, and the infrastructure is built, it will become easier for people to buy and sell, and so more people will start using it.;“我认为比特币正在走向主流,”迪米特称,“随着时间的推移,比特币基础设施完善后人们使用比特币更加方便,比特币的使用群体也将扩大。”In Vancouver, for example, dozens of people attend weekly bitcoin meet-ups and a member co-op is promoting the currency to a growing list of local retailers.举例来说,在温哥华,每周有数十人参与比特币的见面会,消费合作社正将比特币推广至更多当地零售商。At Waves, Vancouver resident Chung Cheong used bitcoin to pay for his mug of tea and was happy to mull over the future of the digital currency.海浪咖啡内,温哥华的居民张聪正使用比特币买茶,考虑到虚拟货币的前景他表示很乐观。;It#39;s been said that we#39;re at the stage where email was in 1992,; he said. ;Is it risky? Sure. But look at how the internet and email changed the world.;“据说我们又处于在1992年刚发明邮件的状态了,”他说,“虚拟货币有风险吗?当然有。但回首网络和邮件给世界带来的变化,一切都是值得的。” /201312/269067

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