And, you know, some share buybacks is absolutely fine, but this system is completely out of whack.

你知道，股票回购绝对没问题，但这样的一个系统完全不正常。

He prefers to pour money into early stage start-ups, but share buybacks are hardly off the table.

他更喜欢把钱投入到早期的初创企业中，股票回购几乎不在其考虑之列。

The Bank of England scrapped the restrictions on banks' dividend payouts and share buybacks that it imposed during the pandemic.

英国央行取消了疫情期间对银行派息和股票回购的限制。

Share buybacks have grown to record levels.

股票回购已增长到创纪录的水平。

Still, PNC may seek to expand further. It has excess capital to deploy, in part because regulators have capped dividends and banned share buybacks.

不过，PNC可能会寻求进一步扩张。它有多余的资本可以配置，部分原因是监管机构限制了股息并禁止股票回购。

Share buybacks are one of the single most controversial issues in corporate governance.

股票回购是公司治理中最具争议的问题之一。

Share buybacks are fundamentally an alternative to dividends.

股票回购从根本上来说是股息的替代方案。

Some prominent investors say companies' share buybacks have gone too far.

一些知名投资者表示， 公司的股票回购已经过头了。

Share buybacks are a growing practice among publicly traded corporations.

股票回购在上市公司中越来越普遍。

So do you think people will ever stop bickering over share buybacks?

那么你认为人们会停止关于股票回购的争吵吗？

So very recently, just as of this latest quarter, it seems like there have been less share buybacks happening.

因此，就在最近一个季度，股票回购似乎有所减少。

But what about this idea around funding these share buybacks with debt?

但是用债务为这些股票回购提供资金的想法又如何呢？

To give you a sense of this trend that in 2012 there were $463bn of share buybacks globally.

为了让您了解这一趋势， 2012 年全球股票回购规模达 4,630 亿美元。

So what's the history of share buybacks? Where do they come from?

那么股票回购的历史是怎样的呢？他们来自哪里？

But the view was they were too focused on investors and shareholder returns and they spent something like $43bn in share buybacks, giving that money to shareholders instead of investing in engineering.

但是，人们认为他们过于关注投资者和股东回报，他们花了大约430亿美元用于股票回购，把钱给了股东，而不是投资于工程。

So like Apple, it's really hard to say Apple shouldn't do share buybacks.

因此，就像苹果一样， 很难说苹果不应该进行股票回购。

So more recently in the US, there's been some new laws and proposed changes to regulations around share buybacks.

最近，美国出台了一些新法律， 并提议对有关股票回购的法规进行修改。

Basically, what they say is US companies are gonna have to disclose a lot more information about share buybacks.

基本上，他们所说的是美国公司将不得不披露更多有关股票回购的信息。

What they want is growth in five years and those people don't get a lot out of share buybacks.

他们想要的是五年内的增长， 而这些人并没有从股票回购中得到太多。

There will be a narrative required like we did these share buybacks because we didn't have anything else to spend the money on.

需要有一个叙述， 就像我们进行这些股票回购一样， 因为我们没有其他东西可以花钱。