Financial regulations in Britain have imposed a rather unusual rule on the bosses of big banks. Starting next year, any guaranteed bonus of top executives could be delayed 10 years if their banks are under investigation for wrongdoing. The main purpose of this “clawback” rule is to hold bankers responsible for harmful risk-taking and to restore public trust in financial institution. Yet officials also hope for a much larger benefit: more long-term decision-making not only by banks but also by all corporations, to build a stronger economy for future generations.
“Short-termism” or the desire for quick profits, has worsened in publicly traded companies, says the Bank of England’s top economist, Andrew Haldane. He quotes a giant of classical economies, Alfred Marshall, in describing this financial impatience as acting like “Children who pick the strawberries out of their pudding to eat them at once” rather than putting them aside to be eaten last.
The average time for holding a stock in both the United States and Britain, he notes, has dropped from seven years to seven months in recent decades. Transient(短期的) investors, who demand high quarterly profits from companies, can hold back a firm’s efforts to invest in long-term research or to build up customer loyalty. This has been called “quarterly capitalism”.
In addition, new digital technologies have allowed more rapid trading of equities( 股 票 ), quicker use of information, and thus shortens attention spans in financial markets. “There seems to be an advantage of short-term thinking at the expense of long-term investing,” said Commissioner Daniel Gallagher of the US Securities and Exchange Commission in speech this week.
In the US, the Sarbanes-Oxley Act of 2002 has pushed most public companies to delay performance bonuses for senior executives by about a year, slightly helping reduce “short-termism.” In its latest survey of CEO pay, The Wall Street Journal finds that “a substantial part” of executive pay is now tied to performance.
Much more could be done to encourage “long-termism,” such as changes in the tax code and quicker disclosure(披露) of stock acquisitions. In France, shareholders who hold onto a company investment for at least two years can sometimes earn more voting rights in a company.
Within companies, the right compensation design can provide motivation for executives to think beyond their own time at the company and on behalf of all shareholders. Britain’s new rule is a reminder to bankers that society has an interest in their performance, not just for the short term but for the long term.
1.According to Paragraph 1, one reason for imposing the new rule is the _______.
A.enhance banker’s sense of responsibility
B.help corporations achieve larger profits
C.build a new system of financial regulation
D.guarantee the bonuses of top executives
2.It is argued that the influence of transient investment on public companies can be _______.
A.indirect B.negative
C.favorable D.temporary
3.The US and France examples in paragraphs 5 and 6 are used to illustrate_______.
A.the obstacles to preventing “short-termism”.
B.the significance of long-term thinking.
C.the approaches to promoting “long-termism”
D.the popularity of short-term thinking.
4.Which of the following would be the best title for the text?
A.Failure of Quarterly Capitalism
B.Patience as a Corporate Virtue
C.Decisiveness Required of Top Executives
D.Frustration of Risk-taking Bankers
People diet to look more attractive. Fish diet to avoid being beaten up, thrown out of their social group, and getting eaten as a result. That is the fascinating conclusion of the latest research into fish behavior by a team of Australian scientists.
The research team has discovered that subordinate (隶属的)fish voluntarily diet to avoid challenging their larger competitors. “In studying gobies we noticed that only the largest two individuals, a male and female, had breeding(繁殖) rights within the group, ”explains Marian Wong. “All other group members are non-breeding females, each being 5–10% smaller than its next largest competitor. We wanted to find out how they keep this size separation.”
The reason for the size difference was easy to see. Once a subordinate fish grows to within 5–10% of the size of its larger competitor, it causes a fight which usually ends in the smaller goby being driven away from the group. More often than not, the evicted fish is then eaten up.
It appeared that the smaller fish were keeping themselves small in order to avoid challenging the boss fish. Whether they did so voluntarily，by limiting how much they ate, was not clear. The research team decided to do an experiment. They tried to fatten up some of the subordinate gobies to see what happened. To their surprise，the gobies simply refused the extra food they were offered，clearly preferring to remain small and avoid fights, over having a feast.
The discovery challenges the traditional scientific view of how boss individuals keep their position in a group. Previously it was thought that large individuals simply used their weight and size to threaten their subordinates and take more of the food for themselves, so keeping their competitors small.
While the habits of gobies may seem a little mysterious, Dr. Wong explains that understanding the relationships between boss and subordinate animals is important to understanding how hierarchical (等级的) societies remain stable.
The research has proved the fact that voluntary dieting is a habit far from exclusive(排他的) to humans. “As yet, we lack a complete understanding of how widespread the voluntary reduction of food intake is in nature,” the researchers comment. “Data on human dieting suggests that, while humans generally diet to improve health or increase attractiveness, rarely does it improve long term health and males regularly prefer females that are fatter than the females’ own ideal.”
1.When a goby grows to within 5–10% of the size of its larger competitor, it_______.
A.faces danger B.has breeding rights
C.eats its competitor D.leaves the group itself
2.The underlined words “the evicted fish” in Paragraph 3 refer to _______.
A.the fish beaten up B.the fish found out
C.the fish fattened up D.the fish driven away
3.The experiment showed that the smaller fish_______.
A.fought over a feast B.went on diet willingly
C.preferred some extra food D.challenged the boss fish
4.What is the text mainly about?
A.Fish dieting and human dieting. B.Dieting and health.
C.Human dieting. D.Fish dieting.
Do you want a part-time job to earn some extra money? Check out the list and find one that suits your fancy.
TECHNICAL SUPPORT
It seems almost everyone has a friend who is a technical genius. Such people earn money using their talent. If you are one of them, you could be responsible for technical support in your college or university and get your part-time job. You can enjoy the process of earning money while doing your favorite thing.
TUTOR
A lot of students hire a tutor to help them in high school or college. If you are good at some subjects, why not work as a peer tutor? You help your friends and earn money at the same time. If you know foreign languages, you can make more money. All you need to do is to make an appropriate advertisement of your services using college newspapers. One of the best things about being a tutor is that you can set your hours.
FITNESS INSTRUCTOR
If your college or university has a fitness center and if you are a sporty person, go and sign up to get this job. You will have an absolute free opportunity to engage yourself in sports. You need to be a good psychologist, because you are going to work with people and it'll be your job to persuade and motivate them to become sporty, healthy and strong. Being a fitness instructor is a perfect position for those who love to help other people and want to make more friends. OFFICE
WORKER
Nowadays many companies cooperate with college students giving them part-time jobs. Some of the major job duties of an office worker are answering calls and scheduling appointments. If you are interested in doing this job. contact the representatives of different companies to find out if they’re currently hiring anyone.
1.If you want to have a flexible schedule while earning some money, which of the following suits you most?
A.Technical support B.Tutor
C.Fitness instructor D.Office worker
2.Which of the following is NOT TRUE according to the passage?
A.As a part-time office worker. you are responsible for answering emails.
B.If you work as a fitness instructor, you should be sporty and sociable.
C.If you are good at foreign languages, you are able to earn more as a tutor.
D.The four kinds of part-time jobs are intended for college students.
3.How can one get a job as a part-time office worker?
A.By submitting the application
B.Through an online interview
C.By advertising on the newspaper
D.By contacting the representative of the company
During my junior year of college, I signed up for a volunteer leaching program in Costa Rica. I lived within an inspiringly colorful living quarter which was ______ into a female and male section, along with a kitchen, eating room and conference room. I taught at a school. It was located（位于）within a ______ and every day birds and butterflies flew throughout our school. It was ______ . We were ______ on Costa Rica’s school system, the country, the language and how to ______ a lesson. Additionally, we took part in ______ acclivities lo relax ourselves.
The experience was beneficial to my English writing ______ when I got back to college, I began writing. I wrote so much that a piece of my writing about that experience was ______ in Folio’s Literary Magazine. Because of that, I was more ______ to continue working abroad.
After ______ , I moved to China for a year and worked in schools to teach reading and writing. It was a life-changing ______ of my life. Not only did I ______ my experiences through a weekly blog, but I began a book. Culture differences ______ me and even consumed me in the beginning, but ______ I fell in love with the people, their schools and their history.
Upon ______ to my home, I became a teacher in Trenton, New Jersey. The moment I stepped into the classroom. I could empathize（感同身受）with my ______ . I truly feel volunteering in Costa Rica was where it all ______ and working in China enriched my leaching life. If I could do anything ______ , it might be volunteering or working abroad more before settling down.
The ______ I’ve made through volunteering and working abroad are an English major’s dream and I hope that every English major ______ the chance to study or work abroad.
1.A.trained B.pulled C.absorbed D.divided
2.A.desert B.sea C.forest D.river
3.A.beautiful B.boring C.vivid D.shocking
4.A.praised B.educated C.interviewed D.commented
5.A.choose B.learn C.plan D.attend
6.A.legal B.fun C.brief D.safe
7.A.because B.unless C.although D.if
8.A.exchanged B.read C.rejected D.published
9.A.worried B.determined C.Frightened D.relaxed
10.A.graduation B.requirement C.operation D.ceremony
11.A.shelter B.topic C.move D.conflict
12.A.confirm B.gain C.compare D.share
13.A.confused B.amuse C.calmer D.excited
14.A.easily B.gradually C.strangely D.usually
15.A.belong B.pointing C.returning D.referring
16.A.volunteers B.classmates C.colleagues D.students
17.A.replied B.disappeared C.escaped D.started
18.A.correctly B.deliberately C.differently D.strictly
19.A.excuses B.discoveries C.preparations D.decisions
20.A.jumps at B.stands for C.turns down D.speaks our
阅读下面材料,根据其内容和所给段落开头语续写两段,使之构成一篇完整的短文。续写的词数应为150左右.
Three years ago. I was arranged to work for a few weeks as a dentist in a new dental clinic at Victor Harbor, to the south of Adelaide and an hour further away than my usual workplace. My first day there was rush driving to a new and unfamiliar clinic and getting used to the different rules and clinical environment.
In my worry and anxiety, and feeling a little unfamiliar in the new setting, I removed my three things: my wedding ring, a ring that belonged to my mother and one that was an anniversary gift from my husband. I wrapped them in a tissue(纸巾) and placed them beside my computer.
During my lunch break, I noticed the wrinkled tissue and thought that it didn’t look very neat and dropped it into the rubbish bin. I went about my duties and my day went on well; I met new patients and felt that I had been productive and efficient. Driving home at the end of the day, just moments before I reached my house, I noticed that I was missing my rings. I felt the heart in my body rose, my cheeks burning red. I went inside and tried to calm down. I felt sick to my stomach and I had that sinking feeling in my heart. I spent an hour or so making calls trying to follow the track of my rings. The first people I called was my manager and clinical leader and they gave me a few contact numbers for cleaners. I got in touch with a lady who managed the cleaning services for the clinic and she informed me that the bins had already been collected.
Heartbroken, I knew nothing could be done now. I had lost my wedding ring and one of my most treasured rings my mother’s wedding ring. Had it not been for my carelessness, all this would not have happened. With great sorrow and regret, I just sat there rooted in my chair.
Paragraph 1:
After two hours or so, I received a most amazing phone call. _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Paragraph 2:
I decided to thank the wonderful person face to face. _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
假设你是某中学学生李华，你的朋友Tom 写信与你讨论友谊的问题。请写一封80词左右的回信，谈谈你对友谊的认识，内容包括：
1. 人和人、人和动物都能产生友谊；
2. 朋友能提供精神和物质上的帮助；
3. 朋友有好坏之分，友谊也有真假之别。
Dear Tom,
Glad to have received your letter. In your letter you said you would like to talk about friendship with me.
_______________________________________________________________________________________________________________________________________________________________________________________________________
Looking forward to your reply.
Yours,
Lihua
