第七組經濟學報告

1. 第七組經濟學報告 指導老師:楊凱富

2. 組員:林建興 10222043 張家偉 10222103 李國維 10222085 紀宗漢 10222091

3. Is Beats a mistake for Apple? No diggity!對APPLE來說Beats是個錯誤嗎?毫無疑問! No diggity一種俚語 Nodoubt的意思

4. 原文 日期:2014.5.9 出處:CNNMoney 網址: http://money.cnn.com/2014/05/09/technology/innovation/beats-apple/index.html?iid=Lead

5. 內容摘要 • Apple is in talks to buy Beats Electronics for $3.2 billion, according to several news reports. But if the deal does actually happen, Apple soon may be singing Dr. Dre's "I Need A Doctor." • 根據多個新聞報導，蘋果公司正在談判以32億美元(960億台幣)購買Beats電子。但如果這個協議一旦屬實，Apple可能很快就需要唱Dr.Dre的一首歌叫“I Need A Doctor” Dr.Dre:是一名饒舌歌手在2008年與唱片公司的董事長共同創立BeatsByDr.Dre. • The Financial Times first reported Thursday that Apple is closing in on a purchase of the high-end headphones and streaming music service founded by rapper Dr. Dre and music producer Jimmy Iovine. • 金融時報首次報導，蘋果即將購買由饒舌歌手Dr.Dre和音樂製作人Jimmylovine所創立的高階耳機和串流媒體音樂服務”Beats” 。 • Streamingmusic 串流音樂

6. Streaming Music串流音樂 • 使用者不需要將龐大的影音檔案完全下載，就可以做即時的觀賞。簡單的說，串流媒體的原理就是一面下載檔案，一面播放已接收的部分。 • 以串流型態的像是Youtube、iTunes、Kkbox、Spotify

7. It would be Apple's largest acquisition ever -- by a long shot. (Apple's biggest purchase to date was Steve Jobs' NeXT, for $400 million). • 這將會是蘋果有時以來最大的收購(蘋果目前最大的收購是由賈伯斯以4億美元購買NeXT) NeXT:是一間設立在美國加利福尼亞州紅木城的電腦公司，專門製造和開發高等教育和商業市場上的工作站 • The question, of course, isn‘t whether Apple can afford Beats. Apple has nearly $160 billion in cash. It could buy 50 Beats-sized companies. • 問題當然不是在於蘋果是否負擔的起購買Beats.蘋果擁有將近1600億美元的資產，可以買下50間像Beats這樣規模的公司 • On the surface, an Apple deal for Beats makes sense. Apple could use a boost in the music department. • 從表面上來看，蘋果收購Beats看起來很合理，蘋果可以用來推動音樂部門

8. Even though iTunes remains the largest music store in the world, the overall trend of slowing digital music sales is a concern for Apple. • 雖然iTunes維持全球最大的音樂商店，但隨著整體購買數位音樂逐漸減少的情況下，這是蘋果必須擔心的。 • The company tried to jump on the streaming music bandwagon with iTunes Radio in June 2013, but customer adoption has been tepid. Only 1% to 2% of iTunes Radio listeners actually end up buying music from the service, according to Billboard. • 公司試著在2013六月利用iTunes 電台趕上串流音樂的潮流，但顧客似乎不怎麼採納，根據告示牌顯示只有1%~2%iTunes使用者真的在這服務上購買音樂。 • But there are also reasons to be concerned that Apple is making a mistake. • 但還是有其他原因必須擔憂蘋果正在犯一個錯誤 • Overall 整體 jump on the bandwagon 趕時髦

9. Beats by Dr.Dre Beats By Dr. Dre是一家美國聲樂設備品牌，主要產品有耳機和揚聲器，由饒舌歌手Dr. Dre及環球唱片下屬的Interscope唱片公司董事長Jimmy Iovine聯合創建於2008年，獨家授權由魔聲（Monster Cable）製造和銷售。2012年兩公司宣布停止合作。作為營銷策略的一部分，其耳機經常出現在電影、MV和其他媒體中。 Beats耳機總共有分為兩個型態: 罩耳式耳機 Beats的耳機外在設計新潮時尚，色彩豐富多樣， 內在音質更是具備了低沉渾厚的低音以及清脆 的高音，但相對來說，價錢也是很昂貴的。 入耳式耳機

11. Beats doesn‘t release its subscriber numbers, but Cowen & Co estimates there are around 500,000 Beats customers. By contrast, Spotify boasts more than 4 million subscribers. • 雖然Beats沒有公開他的用戶數量，但市場研究機構Cowen&Co估計目前大約有50萬個客戶。而相較之下，Spotify擁有超過400萬個用戶。 • Pandora has more than 250 million active accounts and last month said 76 million people listened to songs on its service. More than 3 million subscribe to Pandora's high-end subscription service. • 潘多拉則是擁有超過2.5億個帳戶而上個月曾表示有760萬人在他的程式上聽音樂。超過300萬個人訂閱潘多拉的高端訂閱服務。

12. It's not like Apple would have to pay through the nose to buy Pandora, either. Pandora's market value is less than $5 billion. Even with a juicy takeover premium, Apple has that cash lying around in its corporate couch cushions. • 它不像蘋果必須花更多的錢買下潘多拉。潘多拉的市場價值少於50億。即使是一個利潤豐厚的收購益價，蘋果都有足夠的資金在他的公司裡。 • Corporate: 公司的 Couch: 沙發 Cushions: 靠墊 • Beats has brand cachet, particularly with teens and young adults. Its fashionable headphones could also dovetail with Apple's attempts to get into the wearable device business, notes Cowen & Co. analyst Timothy Arcuri. • 根據Cowen & Co. 的分析師Timothy Arcuri指出，特別是對年輕人和剛成年的人而言，Beats有它的品牌威望。它時尚的耳機也可以配合蘋果試圖進入可穿戴設備的行業。 • Dovetail: 吻合 • But few on Wall Street were sold on the potential deal. • 但在華爾街裡很少人再進行潛在交易 • Potential: 潛在的

13. "We are struggling to see the rationale behind this move," wrote Piper Jaffray analyst Gene Munster. "Beats would of course bring a world class brand in music to Apple, but Apple already has a world class brand and has never acquired a brand for a brand's sake." • Piper Jaffray公司的吉恩•蒙斯特對此持懷疑態度說“我們很難看出這筆收購背後的合理性。”當然，Beats將把世界一流的音樂品牌帶入蘋果，但是蘋果早已擁有世界級的品牌，而且從未為了品牌而收購品牌。 • Rationale:基礎理論 Acquire:取得 • Music also isn't the only business in which Apple could use help. Apple's software strategy lacks vision. And as cloud-based services quickly become the defining product for Google, Microsoft, Amazon and Yahoo, Apple continues to struggle with its less-than-stellar iCloud service. • 音樂並不是唯一一樣能夠幫助蘋果生財的產業，蘋果的軟體策略缺乏遠見。而當雲端服務在谷歌、微軟、亞馬遜和雅虎迅速地成為主要的產品後。蘋果持續的在他次要的雲端服務上奮鬥。 • Cloud- based service:雲端服務 iCloud:是蘋果公司所提供的雲 • 端服務 Less-than-stellar:並不主要的 次要的

14. Apple shares fell about 1% Friday morning on the news. So the market may be sending the message that it wants Apple to buy something that actually could help it expand into a new product category. Beats headphones and streaming music aren't "Natural Born Killaz" for Apple investors.  • 新聞上報導蘋果的股票在周五早上下跌了1%。所以市場上可能在傳遞一些訊息要蘋果去買一些實際上可以幫助它拓展新產品類型的商品。對蘋果的投資者而言Beats的耳機和它的串流音樂並不像Dr. Dre的歌“Natural Born Killaz” (天生殺手) • Share:股票 Category:類型

15. Abenomics pays: Toyota profits up 90%安倍帶來的效益:豐田利潤上升90%

16. 原文 日期:2014.5.8 出處:CNNMONEY 網址:http://money.cnn.com/2014/05/08/news/companies/toyota-earnings-japan/index.html

17. Profits at Toyota nearly doubled last year as the Japanese automaker benefited from a sharp fall in the value of the yen. 在日圓急遽貶值的影響下，豐田的汽車製造商的獲利幾乎為去年的兩倍。 The world‘s biggest automaker said profits jumped 90% to 1.82 trillion yen ($17.9 billion) in the year to Marc31 世界最大的汽車製商說，今年三月底的利潤相較於去年三月底成長了 90%，金額來到1.82 兆日圓 Toyota is among the highest profile companies to get a lift from Abenomics, a set of measures championed by Japanese Prime Minister Shinzo Abe to boost the world's third largest economy. 豐田是在安倍經濟學獲利最高的公司，在日本首相安倍晉三的實施的一系列措施下 讓日本發展成為世界大三大經濟體。

18. Abe is trying to end years of falling prices and stimulate growth by increasing government spending and using aggressive monetary policy. 安倍晉三嘗試增加政府花費並使用激進的貨幣政策來結束這幾年的衰敗並刺激成長 Since Abe came to power in late 2012, the yen has fallen by roughly 17% against the dollar, giving Japanese manufacturers an edge in competition against international rivals.2012年末，當安倍晉三實施貶值日幣的政策後，日值急遽的下滑17％ 讓日本的製造商在國際上競爭更加有利。 Toyota said in its earnings statement that the yen's weakness was the overriding reason behind the company's big jump in operating profits 豐田業者指出在他們的營利報表中，日圓貶值是他們營利大躍進的主因。 Stimulate 促進 manufacturer 製造商

19. Cost cutting and successful marketing also helped boost results.Vehicle sales are running at about 10 million a year, keeping Toyota ahead of General Motors and Volkswagen.花費的刪減和成功的市場銷售也帶動了豐田的業績，輪胎銷售也爬升到一年1000萬元，讓豐田繼續領先通用汽車和福斯汽車。

20. The company also said it benefited from last-minute demand from Japanese customers who raced to make purchases before a rise in consumption tax in April -- part of Abe's plan to stabilize massive government borrowing. • 該公司表示，它從在四月消費稅上升之前快速進行購買的日本消費者的最後需求中獲利－部分安培計劃，用來穩定龐大的政府舉債。 • Looking ahead to next year, Toyota forecasts net profit will fall slightly, down by 2.4%, and it doesn't expect any growth in sales, especially since demand traditionally slows following a surge • 展望明年，豐田預計利潤將會略微下降，同比例下降2.4％。並且不預期在銷售方面有任何成長，特別是由於傳統的需要減緩接下來的激增。 • The company has issued two major recalls in recent months affecting more than 8 million vehicles worldwide. • 該公司在最近幾個月發布了兩大召回，對全球影響超過八百萬輛。 • Massive 龐大的 recall召回

21. The recalls cover 27Toyota (TM) models -- including Camry, Corolla, Matrix and Highlander. 這個召回涵蓋了27個豐田模型，包括凱美瑞、卡羅拉、美傑仕和漢蘭達。Two of those models were made by joint manufacturing ventures and sold under other brands: the Pontiac Vibe and the Subaru Trezia. Some of the vehicles were made as early as 2004.這兩個模型都是由合資製造企業製造，但用其他品牌出售：龐蒂亞克Vibe和斯巴魯Trezia。部分車輛早在2004年提出。The announcement affects around 2 million vehicles in North America, which may be experiencing problems with an air bag cable and seat rails.召回的公告在北美影響了大約200萬輛，它可能會遇到的問題有安全氣囊電纜和座椅導軌。 Announcement 召回

22. "Toyota is not aware of any crashes, injuries or fatalities caused by these conditions," the company said. “豐田不熟之導致該條件的任何事故、傷害以及死亡＂，該公司表示。 Shares in Toyota fell as much as 4.9% Wednesday before closing 3% down in Tokyo. The stock has tumbled more than 15% so far this year.在東京，豐田股價收盤下降3％之前，在周三已經降幅高達4.9％.到今年為止股價已經爆跌超過１５％。The world‘s biggest automaker sold nearly 10 million vehicles last year. This is its second major global recall of 2014, and the latest in a series of quality control headaches.世界最大的汽車製造業者在去年賣出將近1000輛車。這是2014年第二個主要的全球召回，已急一連串最新的品質控管考驗。 Fatalities 死亡 stock股價

23. In February, Toyota recalled 2.1 million Prius, RAV4, Tacoma and Lexus vehicles, because of a software problem that could cause the cars to stop suddenly. 在二月，豐田召回了210萬普瑞斯、Rav4、塔科瑪和雷克薩汽車。因為軟件問題，可能導致車輛突然停駛的危險。 Earlier this year, Toyota agreed to pay $1.2 billion. 今年早些時候，豐田同意支付12億的罰款。

25. Beats是由誰和誰共同創立的? Dr.Dre and Jimmy Iovine 有哪些是利用串流音樂 請舉出一種 Youtube iTunes Spotify Kkbox 日本首相叫做什麼名字? 安倍晉三 Q&A

26. The end