2014年经济学人 一周新闻报道 商业（在线收听）

Bank of America was reported to have reached a settlement with American regulators to pay around 17 billion for mis-selling mortgage-backed securities in the run-up to the 2008 financial crisis. It is by far the biggest penalty levied on a single company. A significant chunk of the fine relates to toxic mortgage products handled by Countrywide Financial and Merrill Lynch, which BofA bought when both were teetering on the edge of bankruptcy.

Benjamin Lawsky, New York state's financial regulator, slapped a 300m fine on Standard Chartered for failing to comply with anti-money-laundering procedures it had agreed to as part of a previous settlement in 2012. He also imposed a 25m penalty onPricewaterhouseCoopers for softening a report about payments from Iran and other sanctioned countries made through Bank of Tokyo-Mitsubishi in the face of pressure from the bank's executives.

The minutes of the August meeting of the Bank of England's Monetary Policy Committee revealed a split among its members on interest rates, with two voting to raise rates and seven against. It was the first split in the MPC for more than three years and refuelled speculation that the bank might lift rates towards the end of this year. The minutes from the Federal Reserve's July meeting showed a lively debate about the timing of a rate rise, but suggested officials wanted to see more evidence that the American economy has fully recovered.

That's a lot of dollars

A bidding war broke out among America's biggest discount retailers when Dollar General offered to buy Family Dollar in a 9.7 billion offer that trumped an earlier tender from Dollar Tree.The combined revenue of Dollar General and Family Dollar is 28 billion.

Mad about Modi

India's benchmark stockmarket index, the Sensex, reached another record high, as investors cheered a speech by Narendra Modi, the reform-minded prime minister, outlining the things he would like to do to boost exports and manufacturing. But the bullish sentiment sparked by Mr Modi's election could soon fizzle if his government does not deliver on its promises to liberalise the economy.

Hewlett-Packard reported that its total revenue had grown in the latest quarter for the first time in 11 quarters, to 27.6 billion. The increase was 1%. It achieved this by a 12% rise in computer sales, a market that has wilted as people switch to wireless devices but which may have been boosted by the phasing out of support for Windows XP, prompting companies to invest in new computers.

China's powerful National Development and Reform Commission levied fines on 12 Japanese manufacturers of car parts or ball bearings. They are the first penalties to be reported in an investigation into price-fixing for spare parts and services among foreign car companies in China.

Hertz's share price fell sharply, after the car-rental company forecast that annual profit would come in “well below” expectations. It said business had suffered in part when it was left with a shortage of cars because of a large number of safety recalls from carmakers. General Motors supplies Hertz with 28% of its fleet in the US. Carl Icahn, an activist investor, has started circling; he disclosed an 8.5% stake in Hertz.

Mining for profit

BHP Billiton confirmed that it will spin off its less-profitable assets into a separately traded company in order to focus on its core ventures in iron ore, copper, coal, petroleum and potash. The move unravels much of the merger in 2001 between BHP and Billiton. The company has been under pressure from investors, and left many disappointed by not also announcing a share buy-back scheme.

Glencore, on the other hand, said it would return 1 billion to shareholders through buy-backs, as it reaps the benefits from selling a Peruvian copper mine for 6.5 billion and a vigorous commodities-trading business. Mining companies are having to cope with slow growth, but Ivan Glasenberg, Glencore's boss, contends that “the supercycle ain't over.”

Steve Ballmer stepped down from Microsoft's board, having handed over the reins as chief executive to Satya Nadella last February. Mr Ballmer recently bought the Los Angeles Clippers basketball team for an estimated 2 billion.

Acknowledging the regulatory challenges it faces, Uber hired David Plouffe, Barack Obama's former campaign manager, to direct its strategy. The car-sharing business now operates in 170 cities around the world but faces stiff resistance from entrenched interests, much like Mr Plouffe's old boss.