The Level of the Non-Manufacturing Index Was 53.9
—in November. It’s a measure of activity in the U.S. economy’s service sector compiled
by the Institute for Supply Management.
这是供应管理协会(Institute for Supply Management)编制的衡量美国服务业活动的指标。
The November reading showed a sharper-than-expected drop in service activity from October. And that gloomy news comes a day after a similar measure of manufacturing showed a continued decline in activity at U.S. factories.
The two surveys illustrate how broad an impact trade wars, and all the uncertainty that comes with them, are having on business activity.
he Bonds of the Riskiest Companies Yield 11.6% More
—than U.S. Treasuries. It, of course, makes sense that companies with a higher chance of defaulting need to pay more to borrow than those likelier to pay back their creditors.
But here’s something else: The difference between the risky bond yields and the Treasuries’ yield—often referred to as their spread – has widened since the summer.
It’s not a promising sign. That’s because lower-rated debt is considered to be the most sensitive to economic growth. So, the fact that investors are now demanding an even higher premium to lend to risky borrowers means they could be expecting slowing economic growth, or worse: a recession.
Carl Icahn Thinks Investors Could Save $2 Billion
—if Xerox (XRX) and HP (HPQ) were to combine. Icahn, an activist investor, is a large shareholder in both printer companies.
如果施乐(Xerox, XRX)和惠普(HP, HPQ)合并的话。激进投资者伊坎(Carl Icahn)是这两家打印机公司的大股东。
Xerox made an offer to acquire its larger competitor earlier this fall, which HP’s board rejected. Then on Wednesday, in a characteristic letter, Icahn appealed to HP shareholders to put pressure on the board.
Icahn wrote: “I can say without exaggeration that the combination of HP and Xerox is one of the most obvious no-brainers I have ever encountered in my career.”
Carl Icahn has a long history of using public letter-writing campaigns to persuade investors of his point of view. And it’s worked well for him in the past.
翻译 | Anqi
《巴伦》(barronschina) 原创文章，未经许可，不得转载。英文版见2019年12月5日报道“An HP-Xerox Merger Will Save Investors $2 Billion, Icahn Says”。