成功=時(shí)間+方法，自制力是這個(gè)等式的保障。世上無(wú)天才，高手都是來(lái)自刻苦的練習(xí)。而大家往往只看到“牛人”閃耀的成績(jī)，忽視其成績(jī)背后無(wú)比寂寞的勤奮。以下為“2020上半年英語(yǔ)四級(jí)閱讀理解3篇”，歡迎閱讀參考！更多相關(guān)訊息請(qǐng)關(guān)注！
【篇一】2020上半年英語(yǔ)四級(jí)閱讀理解
The Norwegian Government is doing its best to keepthe oil industry under control. A new law limitsexploration to an area south of the southern end ofthe long coastline; production limits have been laiddown (though these have already been raised); andoil companies have not been allowed to employmore than a limited number of foreign workers. Butthe oil industry has a way of getting over suchproblems, and few people believe that theGovernment will be able to hold things back for long. As on Norwegian politician said last week: “We willsoon be changed beyond all recognition.”
Ever since the war, the Government has been carrying out a programme of development inthe area north of the Arctic Circle. During the past few years this programme has had a greatdeal of success: Tromso has been built up into a local capital with a university, a large hospitaland a healthy industry. But the oil industry has already started to draw people south, andwithin a few years the whole northern policy could be in ruins.
The effects of the oil industry would not be limited to the north, however. With nearly 100 percent employment, everyone can see a situation developing in which the service industriesand the tourist industry will lose more of their workers to the oil industry. Some smallerindustries might even disappear altogether when it becomes cheaper to buy goods from abroad.
The real argument over oil is its threat to the Norwegian way of life. Farmers andfishermen do not make up most of the population, but they are an important part of it, because Norwegians see in them many of the qualities that they regard with pride asessentially Norwegian. And it is the farmers and the fishermen who are most critical of the oilindustry because of the damage that it might cause to the countryside and to the sea.
1. The Norwegian Government would prefer the oil industry to
[A] provide more jobs for foreign workers.
[B] slow down the rate of its development.
[C] sell the oil it is producing abroad.
[D] develop more quickly than at present.
2. The Norwegian Government has tried to
[A] encourage the oil companies to discover new oil sources.
[B] prevent oil companies employing people from northern Norway.
[C] help the oil companies solve many of their problems.
[D] keep the oil industry to something near its present size.
3. According to the passage, the oil industry might lead northern Norway to
[A] the development of industry.
[B] a growth in population.
[C] the failure of the development programme.
[D] the development of new towns.
4. In the south, one effect to the development of the oil industry might be
[A] a large reduction on unemployment.
[B] a growth in the tourist industry.
[C] a reduction in the number of existing industries.
[D] the development of a number of service industries.
5. Norwegian farmers and fishermen have an important influence because
[A] they form such a large part of Norwegian ideal.
[B] their lives and values represent the Norwegian ideal.
[C] their work is so useful to the rest of Norwegian society.
[D] they regard oil as a threat to the Norwegian way of life.
Vocabulary
1. Norwegian 挪威的;挪威人
2. coastline 海岸線
3. recognition 承認(rèn);認(rèn)識(shí);贊賞
4. countryside 鄉(xiāng)下;鄉(xiāng)民
難句譯注
1. A new law limits exploration to an area southof the southern end of the long coastline; production limits have been laid down (though these have already been raised); and oilcompanies have not been allowed to employ more than a limited number of foreign workers.
【結(jié)構(gòu)簡(jiǎn)析】用兩個(gè)分號(hào)連接三句句子。
【參考譯文】一條新的法律限制人們僅在長(zhǎng)長(zhǎng)的海岸線南端以南地區(qū)進(jìn)行勘探考察;規(guī)定了石油生產(chǎn)限量(雖然已提高);石油公司雇傭外國(guó)工人不許超出限定額。
2. With nearly 100 percent employment, everyone can see a situation developing in whichthe service industries and the tourist industry will lose more of their workers to the oil industry.
【參考譯文】由于將近百分之一百就業(yè)率，每個(gè)人都能看出形式發(fā)展中服務(wù)行業(yè)和旅游 行業(yè)的大部分工人會(huì)跑到石油工業(yè)方面去。
3. Farmers and fishermen do not make up most of the population, but they are animportant part of it, because Norwegians see in them many of the qualities that they regardwith pride as essentially Norwegian.
【結(jié)構(gòu)簡(jiǎn)析】復(fù)合句。在because狀語(yǔ)從句中that是定語(yǔ)從句修飾qualities。
【參考譯文】雖然農(nóng)民和漁民并不占人口的絕大多數(shù)，可是他們都是人口的重要組成不分，因?yàn)榕餐嗽谒麄兩砩峡吹皆S多他們自豪地認(rèn)為是挪威人的基本品質(zhì)。
寫作方法與文章大意
文章論述“挪威政府意欲控制石油工業(yè)”。采用對(duì)比寫法。先提出政府新政策的種種限制。但石油工業(yè)有辦法對(duì)付。人們都認(rèn)為限制難以長(zhǎng)久。其次講述，從戰(zhàn)時(shí)起，挪威政府一直執(zhí)行開(kāi)發(fā)北極圈北部地區(qū)的發(fā)展規(guī)劃，也取得成功。但石油工業(yè)已經(jīng)開(kāi)始向南方進(jìn)軍，北方政策可能會(huì)失敗。石油工業(yè)之影響超出北方，有些企業(yè)縮小，減少。最后一段是講爭(zhēng)論的焦點(diǎn)：石油對(duì)挪威生活方式構(gòu)成了威脅，具體表現(xiàn)在對(duì)挪威理想的代表――漁民和農(nóng)民的威脅。
答案詳解
1. B 減慢發(fā)展速率。文章開(kāi)始就闡明挪威政府正竭盡全力把石油工業(yè)控制起來(lái)，制定新法律來(lái)限制勘探開(kāi)采，限制產(chǎn)量，限制雇傭外國(guó)工人人數(shù)。A. 為外國(guó)工人提供更多的工作。C.賣掉正在國(guó)外生產(chǎn)的石油。D.比現(xiàn)在發(fā)展更快。
2. D 使石油工業(yè)保持在接近現(xiàn)在的規(guī)模。A. 鼓勵(lì)石油公司去發(fā)現(xiàn)新石油資源。B.制止石油公司雇傭來(lái)自挪威北方的人。C.幫助石油公司解決許多問(wèn)題。
3. C 發(fā)展規(guī)劃的失敗。這在第二段最后一句：“可是石油工業(yè)已經(jīng)開(kāi)始把人們吸引到南方去，所以不出幾年，整個(gè)北方政策可能成泡影。”A.工業(yè)發(fā)展。B.人口增長(zhǎng)。D.新城市的發(fā)展。文內(nèi)沒(méi)有涉及。
4. C 現(xiàn)存工業(yè)數(shù)的減少。第三段開(kāi)始“可是石油工業(yè)的影響并不僅僅限于北方。近百分之一百的就業(yè)率，使每個(gè)人都見(jiàn)到發(fā)展的勢(shì)頭，服務(wù)業(yè)和旅游業(yè)的好多工人轉(zhuǎn)向石油工業(yè)。某些較小的工業(yè)，在從國(guó)外購(gòu)進(jìn)貨物更便宜的情況下，很可能會(huì)全部消失?！边@說(shuō)明工業(yè)數(shù)減少。A.大大減少失業(yè)。B.旅游 行業(yè)增長(zhǎng)。D.許多服務(wù)公司發(fā)展。文內(nèi)沒(méi)有提。
5. B 他們的生活和價(jià)值代表了挪威人的理想。A.他們組成了那么大一部分挪威理想。C.他們的工作對(duì)挪威社會(huì)的其他方面非常有用。D.他們認(rèn)為石油是對(duì)挪威生活方式的威脅。最后一段第一句話：“對(duì)石油真正的爭(zhēng)論點(diǎn)是它對(duì)挪威生活方式的一種威脅。”并不是他們認(rèn)為威脅。
【篇二】2020上半年英語(yǔ)四級(jí)閱讀理解
IS TENCENT one of the world’s greatest internet firms? There are grounds for scepticism. The Chinese gaming and social-media firm started in the same way many local internet firms have: by copying Western success. QQ, its instant-messaging service, was a clone of ICQ, an Israeli invention acquired by AOL of America. And unlike global internet giants such as Google and Twitter, Tencent still makes its money in its protected home market.
騰訊是世界上的互聯(lián)網(wǎng)公司之一嗎?有持懷疑態(tài)度的理由。這個(gè)中國(guó)游戲和社交媒體公司跟許多本土互聯(lián)網(wǎng)公司一樣以同樣的方式起步：通過(guò)抄襲西方的成功模式。騰訊的即時(shí)通訊服務(wù)QQ是一家被美國(guó)AOL收購(gòu)的以色列發(fā)明的ICQ的翻版。而區(qū)別于谷歌和twitter等全球互聯(lián)網(wǎng)巨頭，騰訊仍然只在受保護(hù)的本土市場(chǎng)圈錢。
Yet the Chinese firm’s stockmarket valuation briefly crossed the $100 billion mark this week for the first time. Given that the valuation of Facebook, the world’s leading social-media firm, itself crossed that threshold only a few weeks ago, it is reasonable to wonder whether Tencent is worth so much. However, Tencent now has bigger revenues and profits than Facebook. In the first half of this year Tencent enjoyed revenues of $4.5 billion and gross profits of $2.5 billion, whereas Facebook saw revenues of $3.3 billion and gross profits of $935m.
然而，這家中國(guó)公司的股市估值這周首次超過(guò)了1000億美元大關(guān)。鑒于全球的社交媒體公司facebook的估值只在幾周之前才跨過(guò)這道門檻，所以換衣騰訊的市值是有道理的。然而，騰訊現(xiàn)在的收入和利潤(rùn)都比f(wàn)acebook多。今年前半年騰訊營(yíng)收達(dá)到45億美元，而總利潤(rùn)達(dá)到25億美元，而facebook營(yíng)收只有33億美元，總利潤(rùn)只有9.35億美元。
The Chinese firm’s market value reflects the phenomenal rise in its share price. A study out this week from the Boston Consulting Group found that Tencent had the highest shareholder total return (share-price appreciation plus dividends) of any large firm globally from 2008 to 2012—topping Amazon and even Apple.
這家中國(guó)公司的市場(chǎng)價(jià)值反映在其股價(jià)的驚人崛起上。這周波士頓咨詢集團(tuán)的一項(xiàng)研究發(fā)現(xiàn)，自2008年到2012年，在全球所有大公司中，騰訊擁有的股東總回報(bào)(股價(jià)升值加上分紅)，超過(guò)了亞馬遜甚至蘋果。
Tencent has created a better business model than its Western peers. Many internet firms build a customer base by giving things away, be they search results or social-networking tools. They then seek to monetise their users, usually turning to online advertising. Google is a glorious example. Other firms try to make e-commerce work. But as the case of revenue-rich but profit-poor Amazon suggests, this can also be a hard slog.
騰訊比起西方同行創(chuàng)造了一個(gè)更好的商業(yè)模式。許多互聯(lián)網(wǎng)公司基于送給人們東西作為搜索結(jié)果或者社交工具來(lái)讓其成為消費(fèi)者。他們接著尋求在他們用戶身上套現(xiàn)，通常是提供在線廣告。谷歌就是一個(gè)光輝典范。其他公司嘗試電子商務(wù)活動(dòng)。但是收入豐富但是利潤(rùn)甚微的亞馬遜表明這也是一條艱難的路。
Tencent does give its services away: QQ is used by 800m people, and its WeChat social-networking app (which initially resembled America’s WhatsApp) has several hundred million users. What makes it different from Western rivals is the way it uses these to peddle online games and other revenue-raising offerings.
騰訊也給用戶提供服務(wù)，有8億人使用QQ，其微信社交應(yīng)用(最初類似于Whatsapp)有幾百萬(wàn)用戶。其區(qū)別于西方對(duì)手的招數(shù)在于使用這些工具兜售在線游戲以及其他增加收入的服務(wù)。
【篇三】2020上半年英語(yǔ)四級(jí)閱讀理解
Analyse this
分析分析
The old model of stockmarket research is changing
股市研究的舊模式正在改變。
Sep 21st 2013 |From the print edition
EQUITY research is meant to benefit both providers and recipients. It ought to help investors to allocate money more profitably. And the banks that give their clients free access to research hope that it will help them generate revenues from equity trading. But neither party is much satisfied by the conventional model.
股票研究本應(yīng)發(fā)行者和股東雙雙受益。應(yīng)該幫助投資者更有利潤(rùn)的分配資金。為客戶提供免費(fèi)研究報(bào)告的銀行希望這會(huì)幫助客戶從股權(quán)交易中去的收益。但是雙方對(duì)常規(guī)的模式都不滿意。
Start with the banks. A fall in trading revenues makes the economics of providing research less attractive. Between 2009 and 2013, total equity-trading commissions paid to brokers fell from $13.9 billion to $9.3 billion in America, and from euros 4.2 billion ($5.6 billion) to euros 3 billion in Europe, according to Greenwich Associates, a consultancy. The rise of passive investing and the spread of algorithmic trading have both reduced margins and dampened demand for research produced by and for humans.
交易收入的下降使得經(jīng)濟(jì)學(xué)研究逐漸喪失吸引力。這從銀行開(kāi)始。根據(jù)咨詢機(jī)構(gòu)Greenwich Associates的數(shù)據(jù)，在2009年到2013年之間，在美國(guó)總股本交易中支付給經(jīng)紀(jì)人的傭金從139億美元跌到了93億美元，歐洲則從42億歐元跌到了30億歐元。被動(dòng)投資的興起以及算法交易的擴(kuò)張都使得研究資料的利潤(rùn)率下降，需求也有所放緩。
Nomura recently slashed its equity-research division to focus on its electronic-trading business, Instinet. Other banks are also cutting back. Global sell-side research budgets fell from a 2007 peak of $8.2 billion to just $4.8 billion in 2013, according to Frost Consulting. Sector coverage has contracted: banks now concentrate on large-cap sectors like oil, where trading volumes and revenue potential are higher.
野村最近縮減了其股票研究部門，將注意力集中于電子交易公司Instinet。其他銀行也正在削減研究部門。根據(jù)弗羅斯特咨詢公司的數(shù)據(jù)，全球出售方的研究經(jīng)費(fèi)已經(jīng)從2007年峰值的82億美元降到了2013年的48億美元。研究數(shù)據(jù)的行業(yè)覆蓋率葉縮減了，銀行現(xiàn)在集中在像原油等大宗商品行業(yè)，這些行業(yè)的交易量和收益潛力較高。
Work has been shovelled to cheaper places to save cash. Much of Citigroup’s American equity coverage is now produced in Buffalo, New York. Deutsche Bank and J.P. Morgan have sent research work as far afield as India. Low-value-added tasks like data-crunching are not the only jobs being shipped out, claims Marc Vollenweider at Evalueserve, an outsourcing specialist. This process has its limits, however: client meetings still wholly happen face to face.
工作都轉(zhuǎn)移到了成本更低的地方以節(jié)省現(xiàn)金。花旗銀行的美國(guó)股票報(bào)道現(xiàn)在在紐約的布法羅發(fā)出。德意志銀行和JP摩根已經(jīng)將研究工作轉(zhuǎn)移到了印度。專業(yè)外包公司Evalueserve的Marc Vollenweider表示，不僅僅是像數(shù)據(jù)運(yùn)算這些低附加值的任務(wù)被轉(zhuǎn)移。但是，這個(gè)過(guò)程也有其局限性，客戶會(huì)議仍然全部為面對(duì)面會(huì)議。
The attitude of asset managers is also hardening. With research expenses “bundled” into commissions for executing trades, brokers tend to flood their clients with research reports in order to try to grab a larger slice of trading revenues. Asset managers leave most of them unread. A survey by Britain’s CFA Society found that only 22% of its members thought this model best serves the interests of investors.
資產(chǎn)管理公司的態(tài)度也在變硬。隨著研究經(jīng)費(fèi)“捆 綁”到執(zhí)行交易的傭金中，經(jīng)紀(jì)人往往給他們客戶提供大量的研究報(bào)告，以此在交易收益中獲得更大的比例。資產(chǎn)管理公司的這些材料大都沒(méi)讀過(guò)。英國(guó)CFA協(xié)會(huì)進(jìn)行的一項(xiàng)調(diào)查發(fā)現(xiàn)，只有22%的成員認(rèn)為這種模式最符合投資者的利益。
Independent research outfits offer an alternative. Though small, their share of the “research vote”, an estimate of market share produced by Greenwich Associates, has grown since 2011. They are untainted by the conflicts of interest that bedevil banks offering research on clients, and that led to a 2003 settlement enforcing stricter separation of investment banking and research in America. In Europe “commission sharing agreements” have grown in popularity since they were introduced in 2003. These unbundle brokers’ commissions into costs for executing trades and costs for research, which clients can use to buy services from third parties.
獨(dú)立研究團(tuán)隊(duì)是另一個(gè)選擇。盡管規(guī)模很小，但是據(jù)Greenwich Associates的市場(chǎng)份額數(shù)據(jù)，他們的“研究選擇”比例自2011年來(lái)有所增長(zhǎng)。他們受到長(zhǎng)期困擾銀行給客戶提供調(diào)查報(bào)告的利益沖突的影響，這導(dǎo)致了在2003年美國(guó)出臺(tái)了針對(duì)投資銀行和研究機(jī)構(gòu)更嚴(yán)格的分離。在歐洲，“傭金分成協(xié)議”自從2003年引入以來(lái)，已經(jīng)變得越來(lái)越流行。這些自由的經(jīng)紀(jì)人的傭金用于執(zhí)行交易和研究的花費(fèi)，客戶可以用來(lái)從第三方購(gòu)買服務(wù)。
Independent providers do not have an answer to every problem: making research on smaller firms profitable is a perennial issue. But they do offer radically different services from the banks’ unimaginative valuation models. Bespoke services are in demand. Hedge funds now use research dollars to pay for ground surveillance on the progress of mining or oil projects in Africa, in order to value them better. Others take to the sky. RS Metrics, a satellite-intelligence provider, has reported strong demand from the financial sector for its aerial-imaging services. Some funds even hire former intelligence agents, from firms like Business Intelligence Advisors, to test whether corporate bosses are massaging the truth in investor meetings.
獨(dú)立研究提供者不想回答所有問(wèn)題：研究小公司獲利是一個(gè)長(zhǎng)期的問(wèn)題。但是，他們確實(shí)提供區(qū)別于銀行缺乏想象力的估值模型之外的完全不同的服務(wù)。定制 服務(wù)是有需求的?，F(xiàn)在，對(duì)沖基金運(yùn)用研究資金支付非洲礦業(yè)或石油項(xiàng)目進(jìn)展的地面監(jiān)測(cè)，為了更好的對(duì)這些項(xiàng)目進(jìn)行估值。其他采取空中監(jiān)視。RS Metrics是一個(gè)衛(wèi)星情報(bào)提供商，該公司表示金融公司對(duì)他們的空中成像服務(wù)需求強(qiáng)勁。一些基金甚至從類似商業(yè)情報(bào)顧問(wèn)的公司雇傭了前情報(bào)人員考查公司老板們有沒(méi)有在投資者會(huì)議上說(shuō)實(shí)話。
Old-style research is not about to die. Big banks retain 56.2% of the “research vote” (smaller brokers take another large chunk). Bank bosses still value the support research analysts can give their profitable investment-banking and corporate-advisory businesses. But with budgets under pressure and competition growing, the market is becoming more efficient.
舊式研究不會(huì)消失。大銀行的“研究選擇”比例仍然在56.2%(稍小的經(jīng)紀(jì)人占了剩下的比例)。銀行老板仍人重視支持研究分析給自己投資銀行和咨詢公司業(yè)務(wù)帶來(lái)利潤(rùn)。但是預(yù)算壓力以及競(jìng)爭(zhēng)的增加使得市場(chǎng)變得更有效率。
【篇一】2020上半年英語(yǔ)四級(jí)閱讀理解
The Norwegian Government is doing its best to keepthe oil industry under control. A new law limitsexploration to an area south of the southern end ofthe long coastline; production limits have been laiddown (though these have already been raised); andoil companies have not been allowed to employmore than a limited number of foreign workers. Butthe oil industry has a way of getting over suchproblems, and few people believe that theGovernment will be able to hold things back for long. As on Norwegian politician said last week: “We willsoon be changed beyond all recognition.”
Ever since the war, the Government has been carrying out a programme of development inthe area north of the Arctic Circle. During the past few years this programme has had a greatdeal of success: Tromso has been built up into a local capital with a university, a large hospitaland a healthy industry. But the oil industry has already started to draw people south, andwithin a few years the whole northern policy could be in ruins.
The effects of the oil industry would not be limited to the north, however. With nearly 100 percent employment, everyone can see a situation developing in which the service industriesand the tourist industry will lose more of their workers to the oil industry. Some smallerindustries might even disappear altogether when it becomes cheaper to buy goods from abroad.
The real argument over oil is its threat to the Norwegian way of life. Farmers andfishermen do not make up most of the population, but they are an important part of it, because Norwegians see in them many of the qualities that they regard with pride asessentially Norwegian. And it is the farmers and the fishermen who are most critical of the oilindustry because of the damage that it might cause to the countryside and to the sea.
1. The Norwegian Government would prefer the oil industry to
[A] provide more jobs for foreign workers.
[B] slow down the rate of its development.
[C] sell the oil it is producing abroad.
[D] develop more quickly than at present.
2. The Norwegian Government has tried to
[A] encourage the oil companies to discover new oil sources.
[B] prevent oil companies employing people from northern Norway.
[C] help the oil companies solve many of their problems.
[D] keep the oil industry to something near its present size.
3. According to the passage, the oil industry might lead northern Norway to
[A] the development of industry.
[B] a growth in population.
[C] the failure of the development programme.
[D] the development of new towns.
4. In the south, one effect to the development of the oil industry might be
[A] a large reduction on unemployment.
[B] a growth in the tourist industry.
[C] a reduction in the number of existing industries.
[D] the development of a number of service industries.
5. Norwegian farmers and fishermen have an important influence because
[A] they form such a large part of Norwegian ideal.
[B] their lives and values represent the Norwegian ideal.
[C] their work is so useful to the rest of Norwegian society.
[D] they regard oil as a threat to the Norwegian way of life.
Vocabulary
1. Norwegian 挪威的;挪威人
2. coastline 海岸線
3. recognition 承認(rèn);認(rèn)識(shí);贊賞
4. countryside 鄉(xiāng)下;鄉(xiāng)民
難句譯注
1. A new law limits exploration to an area southof the southern end of the long coastline; production limits have been laid down (though these have already been raised); and oilcompanies have not been allowed to employ more than a limited number of foreign workers.
【結(jié)構(gòu)簡(jiǎn)析】用兩個(gè)分號(hào)連接三句句子。
【參考譯文】一條新的法律限制人們僅在長(zhǎng)長(zhǎng)的海岸線南端以南地區(qū)進(jìn)行勘探考察;規(guī)定了石油生產(chǎn)限量(雖然已提高);石油公司雇傭外國(guó)工人不許超出限定額。
2. With nearly 100 percent employment, everyone can see a situation developing in whichthe service industries and the tourist industry will lose more of their workers to the oil industry.
【參考譯文】由于將近百分之一百就業(yè)率，每個(gè)人都能看出形式發(fā)展中服務(wù)行業(yè)和旅游 行業(yè)的大部分工人會(huì)跑到石油工業(yè)方面去。
3. Farmers and fishermen do not make up most of the population, but they are animportant part of it, because Norwegians see in them many of the qualities that they regardwith pride as essentially Norwegian.
【結(jié)構(gòu)簡(jiǎn)析】復(fù)合句。在because狀語(yǔ)從句中that是定語(yǔ)從句修飾qualities。
【參考譯文】雖然農(nóng)民和漁民并不占人口的絕大多數(shù)，可是他們都是人口的重要組成不分，因?yàn)榕餐嗽谒麄兩砩峡吹皆S多他們自豪地認(rèn)為是挪威人的基本品質(zhì)。
寫作方法與文章大意
文章論述“挪威政府意欲控制石油工業(yè)”。采用對(duì)比寫法。先提出政府新政策的種種限制。但石油工業(yè)有辦法對(duì)付。人們都認(rèn)為限制難以長(zhǎng)久。其次講述，從戰(zhàn)時(shí)起，挪威政府一直執(zhí)行開(kāi)發(fā)北極圈北部地區(qū)的發(fā)展規(guī)劃，也取得成功。但石油工業(yè)已經(jīng)開(kāi)始向南方進(jìn)軍，北方政策可能會(huì)失敗。石油工業(yè)之影響超出北方，有些企業(yè)縮小，減少。最后一段是講爭(zhēng)論的焦點(diǎn)：石油對(duì)挪威生活方式構(gòu)成了威脅，具體表現(xiàn)在對(duì)挪威理想的代表――漁民和農(nóng)民的威脅。
答案詳解
1. B 減慢發(fā)展速率。文章開(kāi)始就闡明挪威政府正竭盡全力把石油工業(yè)控制起來(lái)，制定新法律來(lái)限制勘探開(kāi)采，限制產(chǎn)量，限制雇傭外國(guó)工人人數(shù)。A. 為外國(guó)工人提供更多的工作。C.賣掉正在國(guó)外生產(chǎn)的石油。D.比現(xiàn)在發(fā)展更快。
2. D 使石油工業(yè)保持在接近現(xiàn)在的規(guī)模。A. 鼓勵(lì)石油公司去發(fā)現(xiàn)新石油資源。B.制止石油公司雇傭來(lái)自挪威北方的人。C.幫助石油公司解決許多問(wèn)題。
3. C 發(fā)展規(guī)劃的失敗。這在第二段最后一句：“可是石油工業(yè)已經(jīng)開(kāi)始把人們吸引到南方去，所以不出幾年，整個(gè)北方政策可能成泡影。”A.工業(yè)發(fā)展。B.人口增長(zhǎng)。D.新城市的發(fā)展。文內(nèi)沒(méi)有涉及。
4. C 現(xiàn)存工業(yè)數(shù)的減少。第三段開(kāi)始“可是石油工業(yè)的影響并不僅僅限于北方。近百分之一百的就業(yè)率，使每個(gè)人都見(jiàn)到發(fā)展的勢(shì)頭，服務(wù)業(yè)和旅游業(yè)的好多工人轉(zhuǎn)向石油工業(yè)。某些較小的工業(yè)，在從國(guó)外購(gòu)進(jìn)貨物更便宜的情況下，很可能會(huì)全部消失?！边@說(shuō)明工業(yè)數(shù)減少。A.大大減少失業(yè)。B.旅游 行業(yè)增長(zhǎng)。D.許多服務(wù)公司發(fā)展。文內(nèi)沒(méi)有提。
5. B 他們的生活和價(jià)值代表了挪威人的理想。A.他們組成了那么大一部分挪威理想。C.他們的工作對(duì)挪威社會(huì)的其他方面非常有用。D.他們認(rèn)為石油是對(duì)挪威生活方式的威脅。最后一段第一句話：“對(duì)石油真正的爭(zhēng)論點(diǎn)是它對(duì)挪威生活方式的一種威脅。”并不是他們認(rèn)為威脅。
【篇二】2020上半年英語(yǔ)四級(jí)閱讀理解
IS TENCENT one of the world’s greatest internet firms? There are grounds for scepticism. The Chinese gaming and social-media firm started in the same way many local internet firms have: by copying Western success. QQ, its instant-messaging service, was a clone of ICQ, an Israeli invention acquired by AOL of America. And unlike global internet giants such as Google and Twitter, Tencent still makes its money in its protected home market.
騰訊是世界上的互聯(lián)網(wǎng)公司之一嗎?有持懷疑態(tài)度的理由。這個(gè)中國(guó)游戲和社交媒體公司跟許多本土互聯(lián)網(wǎng)公司一樣以同樣的方式起步：通過(guò)抄襲西方的成功模式。騰訊的即時(shí)通訊服務(wù)QQ是一家被美國(guó)AOL收購(gòu)的以色列發(fā)明的ICQ的翻版。而區(qū)別于谷歌和twitter等全球互聯(lián)網(wǎng)巨頭，騰訊仍然只在受保護(hù)的本土市場(chǎng)圈錢。
Yet the Chinese firm’s stockmarket valuation briefly crossed the $100 billion mark this week for the first time. Given that the valuation of Facebook, the world’s leading social-media firm, itself crossed that threshold only a few weeks ago, it is reasonable to wonder whether Tencent is worth so much. However, Tencent now has bigger revenues and profits than Facebook. In the first half of this year Tencent enjoyed revenues of $4.5 billion and gross profits of $2.5 billion, whereas Facebook saw revenues of $3.3 billion and gross profits of $935m.
然而，這家中國(guó)公司的股市估值這周首次超過(guò)了1000億美元大關(guān)。鑒于全球的社交媒體公司facebook的估值只在幾周之前才跨過(guò)這道門檻，所以換衣騰訊的市值是有道理的。然而，騰訊現(xiàn)在的收入和利潤(rùn)都比f(wàn)acebook多。今年前半年騰訊營(yíng)收達(dá)到45億美元，而總利潤(rùn)達(dá)到25億美元，而facebook營(yíng)收只有33億美元，總利潤(rùn)只有9.35億美元。
The Chinese firm’s market value reflects the phenomenal rise in its share price. A study out this week from the Boston Consulting Group found that Tencent had the highest shareholder total return (share-price appreciation plus dividends) of any large firm globally from 2008 to 2012—topping Amazon and even Apple.
這家中國(guó)公司的市場(chǎng)價(jià)值反映在其股價(jià)的驚人崛起上。這周波士頓咨詢集團(tuán)的一項(xiàng)研究發(fā)現(xiàn)，自2008年到2012年，在全球所有大公司中，騰訊擁有的股東總回報(bào)(股價(jià)升值加上分紅)，超過(guò)了亞馬遜甚至蘋果。
Tencent has created a better business model than its Western peers. Many internet firms build a customer base by giving things away, be they search results or social-networking tools. They then seek to monetise their users, usually turning to online advertising. Google is a glorious example. Other firms try to make e-commerce work. But as the case of revenue-rich but profit-poor Amazon suggests, this can also be a hard slog.
騰訊比起西方同行創(chuàng)造了一個(gè)更好的商業(yè)模式。許多互聯(lián)網(wǎng)公司基于送給人們東西作為搜索結(jié)果或者社交工具來(lái)讓其成為消費(fèi)者。他們接著尋求在他們用戶身上套現(xiàn)，通常是提供在線廣告。谷歌就是一個(gè)光輝典范。其他公司嘗試電子商務(wù)活動(dòng)。但是收入豐富但是利潤(rùn)甚微的亞馬遜表明這也是一條艱難的路。
Tencent does give its services away: QQ is used by 800m people, and its WeChat social-networking app (which initially resembled America’s WhatsApp) has several hundred million users. What makes it different from Western rivals is the way it uses these to peddle online games and other revenue-raising offerings.
騰訊也給用戶提供服務(wù)，有8億人使用QQ，其微信社交應(yīng)用(最初類似于Whatsapp)有幾百萬(wàn)用戶。其區(qū)別于西方對(duì)手的招數(shù)在于使用這些工具兜售在線游戲以及其他增加收入的服務(wù)。
【篇三】2020上半年英語(yǔ)四級(jí)閱讀理解
Analyse this
分析分析
The old model of stockmarket research is changing
股市研究的舊模式正在改變。
Sep 21st 2013 |From the print edition
EQUITY research is meant to benefit both providers and recipients. It ought to help investors to allocate money more profitably. And the banks that give their clients free access to research hope that it will help them generate revenues from equity trading. But neither party is much satisfied by the conventional model.
股票研究本應(yīng)發(fā)行者和股東雙雙受益。應(yīng)該幫助投資者更有利潤(rùn)的分配資金。為客戶提供免費(fèi)研究報(bào)告的銀行希望這會(huì)幫助客戶從股權(quán)交易中去的收益。但是雙方對(duì)常規(guī)的模式都不滿意。
Start with the banks. A fall in trading revenues makes the economics of providing research less attractive. Between 2009 and 2013, total equity-trading commissions paid to brokers fell from $13.9 billion to $9.3 billion in America, and from euros 4.2 billion ($5.6 billion) to euros 3 billion in Europe, according to Greenwich Associates, a consultancy. The rise of passive investing and the spread of algorithmic trading have both reduced margins and dampened demand for research produced by and for humans.
交易收入的下降使得經(jīng)濟(jì)學(xué)研究逐漸喪失吸引力。這從銀行開(kāi)始。根據(jù)咨詢機(jī)構(gòu)Greenwich Associates的數(shù)據(jù)，在2009年到2013年之間，在美國(guó)總股本交易中支付給經(jīng)紀(jì)人的傭金從139億美元跌到了93億美元，歐洲則從42億歐元跌到了30億歐元。被動(dòng)投資的興起以及算法交易的擴(kuò)張都使得研究資料的利潤(rùn)率下降，需求也有所放緩。
Nomura recently slashed its equity-research division to focus on its electronic-trading business, Instinet. Other banks are also cutting back. Global sell-side research budgets fell from a 2007 peak of $8.2 billion to just $4.8 billion in 2013, according to Frost Consulting. Sector coverage has contracted: banks now concentrate on large-cap sectors like oil, where trading volumes and revenue potential are higher.
野村最近縮減了其股票研究部門，將注意力集中于電子交易公司Instinet。其他銀行也正在削減研究部門。根據(jù)弗羅斯特咨詢公司的數(shù)據(jù)，全球出售方的研究經(jīng)費(fèi)已經(jīng)從2007年峰值的82億美元降到了2013年的48億美元。研究數(shù)據(jù)的行業(yè)覆蓋率葉縮減了，銀行現(xiàn)在集中在像原油等大宗商品行業(yè)，這些行業(yè)的交易量和收益潛力較高。
Work has been shovelled to cheaper places to save cash. Much of Citigroup’s American equity coverage is now produced in Buffalo, New York. Deutsche Bank and J.P. Morgan have sent research work as far afield as India. Low-value-added tasks like data-crunching are not the only jobs being shipped out, claims Marc Vollenweider at Evalueserve, an outsourcing specialist. This process has its limits, however: client meetings still wholly happen face to face.
工作都轉(zhuǎn)移到了成本更低的地方以節(jié)省現(xiàn)金。花旗銀行的美國(guó)股票報(bào)道現(xiàn)在在紐約的布法羅發(fā)出。德意志銀行和JP摩根已經(jīng)將研究工作轉(zhuǎn)移到了印度。專業(yè)外包公司Evalueserve的Marc Vollenweider表示，不僅僅是像數(shù)據(jù)運(yùn)算這些低附加值的任務(wù)被轉(zhuǎn)移。但是，這個(gè)過(guò)程也有其局限性，客戶會(huì)議仍然全部為面對(duì)面會(huì)議。
The attitude of asset managers is also hardening. With research expenses “bundled” into commissions for executing trades, brokers tend to flood their clients with research reports in order to try to grab a larger slice of trading revenues. Asset managers leave most of them unread. A survey by Britain’s CFA Society found that only 22% of its members thought this model best serves the interests of investors.
資產(chǎn)管理公司的態(tài)度也在變硬。隨著研究經(jīng)費(fèi)“捆 綁”到執(zhí)行交易的傭金中，經(jīng)紀(jì)人往往給他們客戶提供大量的研究報(bào)告，以此在交易收益中獲得更大的比例。資產(chǎn)管理公司的這些材料大都沒(méi)讀過(guò)。英國(guó)CFA協(xié)會(huì)進(jìn)行的一項(xiàng)調(diào)查發(fā)現(xiàn)，只有22%的成員認(rèn)為這種模式最符合投資者的利益。
Independent research outfits offer an alternative. Though small, their share of the “research vote”, an estimate of market share produced by Greenwich Associates, has grown since 2011. They are untainted by the conflicts of interest that bedevil banks offering research on clients, and that led to a 2003 settlement enforcing stricter separation of investment banking and research in America. In Europe “commission sharing agreements” have grown in popularity since they were introduced in 2003. These unbundle brokers’ commissions into costs for executing trades and costs for research, which clients can use to buy services from third parties.
獨(dú)立研究團(tuán)隊(duì)是另一個(gè)選擇。盡管規(guī)模很小，但是據(jù)Greenwich Associates的市場(chǎng)份額數(shù)據(jù)，他們的“研究選擇”比例自2011年來(lái)有所增長(zhǎng)。他們受到長(zhǎng)期困擾銀行給客戶提供調(diào)查報(bào)告的利益沖突的影響，這導(dǎo)致了在2003年美國(guó)出臺(tái)了針對(duì)投資銀行和研究機(jī)構(gòu)更嚴(yán)格的分離。在歐洲，“傭金分成協(xié)議”自從2003年引入以來(lái)，已經(jīng)變得越來(lái)越流行。這些自由的經(jīng)紀(jì)人的傭金用于執(zhí)行交易和研究的花費(fèi)，客戶可以用來(lái)從第三方購(gòu)買服務(wù)。
Independent providers do not have an answer to every problem: making research on smaller firms profitable is a perennial issue. But they do offer radically different services from the banks’ unimaginative valuation models. Bespoke services are in demand. Hedge funds now use research dollars to pay for ground surveillance on the progress of mining or oil projects in Africa, in order to value them better. Others take to the sky. RS Metrics, a satellite-intelligence provider, has reported strong demand from the financial sector for its aerial-imaging services. Some funds even hire former intelligence agents, from firms like Business Intelligence Advisors, to test whether corporate bosses are massaging the truth in investor meetings.
獨(dú)立研究提供者不想回答所有問(wèn)題：研究小公司獲利是一個(gè)長(zhǎng)期的問(wèn)題。但是，他們確實(shí)提供區(qū)別于銀行缺乏想象力的估值模型之外的完全不同的服務(wù)。定制 服務(wù)是有需求的?，F(xiàn)在，對(duì)沖基金運(yùn)用研究資金支付非洲礦業(yè)或石油項(xiàng)目進(jìn)展的地面監(jiān)測(cè)，為了更好的對(duì)這些項(xiàng)目進(jìn)行估值。其他采取空中監(jiān)視。RS Metrics是一個(gè)衛(wèi)星情報(bào)提供商，該公司表示金融公司對(duì)他們的空中成像服務(wù)需求強(qiáng)勁。一些基金甚至從類似商業(yè)情報(bào)顧問(wèn)的公司雇傭了前情報(bào)人員考查公司老板們有沒(méi)有在投資者會(huì)議上說(shuō)實(shí)話。
Old-style research is not about to die. Big banks retain 56.2% of the “research vote” (smaller brokers take another large chunk). Bank bosses still value the support research analysts can give their profitable investment-banking and corporate-advisory businesses. But with budgets under pressure and competition growing, the market is becoming more efficient.
舊式研究不會(huì)消失。大銀行的“研究選擇”比例仍然在56.2%(稍小的經(jīng)紀(jì)人占了剩下的比例)。銀行老板仍人重視支持研究分析給自己投資銀行和咨詢公司業(yè)務(wù)帶來(lái)利潤(rùn)。但是預(yù)算壓力以及競(jìng)爭(zhēng)的增加使得市場(chǎng)變得更有效率。