UNIT 4

1. Finance
Complete the headlines from the financial press using the words in the box:
1. 2.
3. 4.


5. 6.


7. .

!. 1".


1
#$%&'()* #(+,(* C-$'./0 C(''/C+
1/#* 12321/%1 45,6 200(/
5,00/0 7$'.2%0 )',42*0 '$*/0
7$'1,C& .,/0
888888888888888: -(./
1/#*0 (%C,3/'/1 $4*/'
),52C/ 2%3/0*2.$*2,%
8888888888888888 27)',3/
$* 7$C',C,7) $4*/'
0*//) )'2C/ '20/0
0-$'/-,51/'0 '/6$'1/1
62*-
2%C'/$0/188888888888888
$4*/' .,,1 '/0(5*0 $*
7/.$#(C&
9$+#('. 4,'C/1 *, 6'2*/
,44 #$1 8888888888888$4*/'
7$2% 0())52/' 4$250
)'/:*$; 8888888888888888 $*
452%C, $4*/' 27)',3/1
*'$12%. 2% 4$' /$0*
02%.5/ /(',)/$%
8888888888888888 20
#,,0*2%. *'$1/<
72%20*/' C5$270
=#$%& 888888888888888 *,,
-2.-<> 0$+ %$*2,%$5
#(02%/00 5/$1/'0
=-2.- 2%*/'/0* 88888888888
&2552%. 07$55
#(02%/00/0<> 0$+0
7$%$./7/%* .('(
5,%'/3 $%%,(%C/ #2.
0-$'/ 8888888888888888 *,
42%$%C/ )5$%%/1
/;)$%02,%
#2.#$%& 42%$%$C/0
7$%$./7/%*
88888888888888888888888
$* %$*#(0
11. 12.

2. Opposites
/ach of the words in the box is the opposite of an underlined word. Complete each sentence with
the correct word:


1. 6e ha?e to debate the pros and 888888888888of this pro@ect before we go ahead with it.
2. 5et>s looA at the strengths and 88888888888888 of each application in turn and then we>ll
draw up a shortlist.
3. 6e expect a rise in sales next Bear followed bB a steadB 888888888888888888two Bears
after that.
4. 2t>s simple: we ha?e to increase our prices and 888888888888888888our costs.
5. +ou can see the general position if Bou looA at the profit and 8888888888888888account
Bou ha?e in front of Bou.
6. $t first we saw the companB expand rapidlB and successfullB. (nfortunatelB< there was a fall
in demand and we were forced to 8888888888888888888our operations to something
approaching our current siCe.
7. 6e ha?e managed to deposit Duite a large sum of moneB in our account at the beginning of
the month but then we had to 88888888888888888it almost immediatelB.
. 6e need to concentrate on our core business and sell off our 8888888888888888businesses.
!. 2t>s easier to hire people when times are good than to 88888888888888888them when times
are hard.
1". 2 would lo?e to accept Bour in?itation but unfortunatelB there>s been a change of plan and
so< with great regret< 2>m afraid 2 shall ha?e to 8888888888888888it.
11. ,ur strategB is to acDuire large< inefficient companies and then 88888888888888888888the
more profitable parts.
12. $lthough we ha?e been able to recruit a handful of sAilled worAers for our main factorB< we
ha?e also had to 88888888888888888se?eral hundred office staff.
2
%/.$*23/ C$0- 888888888888
C'/$*/0 )',#5/70 4,'
)/'*- $%1 0*/6$'*
7$0023/ 888888888888888 $*
.($7 2%3/0*7/%*0 $4*/'
0,(*- $7/'2C$%
,)/'$*2,% 4$250
cons contract decline fall fire laB off
loss peripheral reduce sell off weaAnesses withdraw
3. Word families
4inancial ?ocabularB co?ers se?eral areas< including economics< banAing< < marAeting< personal
finance and financial planning. -ere is a selection of AeB words. Complete the table.
3erb )ersonal nouns .eneral nouns $d@ecti?e
1. to analyze
2. competitor
3. advice
4. to merge
!. to ind"strialize
#. trader
$. e%porting&e%ported
'. prod"cer
(. s"pplier
1). cons"mer
11. to g"arantee
12. to credit
13. de*it
14. earner
1!. investor
4. Financial pro*lems
*he text below is about a companB in difficultB. 4irst read the short text< then choose the best
explanation for each term gi?en.


1. receivers
a. directors of a companB
b. accountants who close down a companB and gi?e it assets to creditors and
shareholders.
c. shareholders that recei?e the assets of a companB that stops trading.

2. restr"ct"ring
a. reorganiCation of how the companB is run
b. reducing companB costs bB reducing the worA:force
3
+am ,ir -ro"nded
0am $ir is going to call in the recei?ers. *he aircraft companB does
not ha?e a serious bidder< after in?iting partners to @oin a
restructuring plan.
0am $ir>s ma@or creditor< Credit #anA 2nternational< refused to
reschedule paBments and has called in the debt. *he companB will
probablB go into liDuidation soon. $ rights issue failed two Bears
ago when shareholders refused to put in more capital.
c. reorganiCing the ownership of capital and the waB debts are financed
3. to resc.ed"le payments
a. to increase the amount of interest
b. to change the terms for paBing bacA a loan
c. to asA for a loan to be taAen o?er bB another lender
4. to call in a de*t
a. to asA a creditor to paB what is owed
b. to increase interest paBments on a debt
c. to agree to late paBment of a debt
5. go into li/"idation
a. stop trading and ha?e all assets gi?en to creditors and shareholders
b. be declared banArupt
c. change the tBpe of acti?itB of the business
6. rig.ts iss"e
a. an attempt to enter new marAets
b. an attempt to change the companB into a worAers> co:operati?e
c. a waB of getting extra moneB into a companB bB selling shares to existing
shareholders at a low price
!. 0ar1et reports
*he words in italics in the following sentences are commonlB used to describe share mo?ements.
1i?ide them into three columns: (p< 1own< 0ame.
1. #urlesDue share peaked at 45"p.
2. $fter steadB rises< $xam shares levelled off at 32"p.
3. -arrow ended higher< up 1"p.
4. $95 fell back 2"p.
5. 'oadman added 5p in busB trading.
6. 7edia shares sank on news of planned go?ernment regulation.
7. %ews %ewspaper .roup dipped 2"p to 54".
. #B the close of trading< -arnleB had steadied at 32"p.
!. 7ost of the oil sector improved in a bullish marAet.
1". 1olman ended lower at 32"< off 2"p.
11. 4ollowing steadB gains< &ornan 4oods firmed at 1!6p.
12. 4ood companies were generallB up< gaining on the bacA of impro?ed retail forecasts.
13. Bearish output forecasts indicate sliding share prices in the coming weeAs.
4
Up 2o3n +ame
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444444444444444444444 4444444444444444444444 444444444444444444444
444444444444444444444 4444444444444444444444
444444444444444444444 4444444444444444444444
444444444444444444444 4444444444444444444444
444444444444444444444
7. 5repositions
0upplB the missing prepositionEsF in each sentence. +ou can use some of them more than once.


1. Could Bou call bacA laterG 0he>s 888888888the other phone.
2. 2t>s not surprising that he>s worAing lee hard. -e>s ?erB close 888888888 retirement.
3. *heB thought e?erBthing was8888888888 control until theB had a big dispute888888888
paB.
4. *here>s clearlB a strong linA 8888888888paB and producti?itB.
5. *he people on the shop floor want more participation 8888888888 the decision:maAing
process.
6. 6e need a much stronger focus 888888888 the needs of our customers.
7. *hese meetings alwaBs start late. Could e?erBone maAe an effort to arri?e888888888 time
next timeG
. 2>?e di?ided this talA 8888888888 three main parts.
!. 2t>s impossible to saB 8888888888 this stage 88888888888 the negotiation whether or not
we will reach an agreement.
1". 6e ha?e to ha?e all the figures 88888888888 the end of the month 88888888888 the ?erB
latest.
11. 6e plan to achie?e a 2"H reduction 88888888888 the worAforce in the next two Bears.
12. 2>m afraid she>s not here I she>s 888888888888 holidaB until next 7ondaB.
. Idioms
4or each underlined idiom find the correct meaning.
aF dangerous situation bF all the time cFdo something that has alreadB been done
dF no conditions eF refused to fF hide something
gF adopt good tactics hF bureaucracB iF being discouraging
@F experimental sub@ect
1. *heB should ne?er ha?e tried to sweep that pollution scandal under the carpet. 888888
2. *hat companB will go banArupt if theB don>t cut some red tape. 888888
3. $t the end of our presentation he spent ten minutes pouring cold water on our
proposal. 888888
4. *he head of research herself agreed to be the guinea pig for the trials of the drug. 888888
5. 6e agreed to do exercises e?erB morning but we drew the line at wearing the
companB uniform. 888888
6. 6e must be ?erB careful about promoting oursel?es as an ethical companB I we
are in a minefield. 888888
7. Chi?ers is going to damage his health I he>s been worAing round the clocA. 888888
. 2t>s Bours for a million and no strings attached. 888888
!. *heB could get the contract if theB plaB their cards right. 888888
5
at between bB in into on to o?er under
1". 6e don>t want to rein?ent the wheel. 888888
!. Over.eads
-ere is a list of 16 fixed cost items . CategoriCe them according to the headings gi?en below.
0er?ices /mploBee costs
888888888888888888888888888 888888888888888888888888888
888888888888888888888888888 888888888888888888888888888
2nsurance $dministration
888888888888888888888888888 888888888888888888888888888
888888888888888888888888888
)ropertB )rofessional fees
888888888888888888888888888 888888888888888888888888888
888888888888888888888888888
3ehicles /Duipment
888888888888888888888888888 888888888888888888888888888
888888888888888888888888888 888888888888888888888888888
7iscellaneous costs
888888888888888888888888888
888888888888888888888888888
6
accountancB fees leasing of computers
booAs< newspapers mortgage paBments
car and ?an hire professional indemnitB insurance
car hire purchase agreements rent
electricitB account salaries
emploBee %ational 2nsurance contributions secretarial support
emploBer>s liabilitB insurance stationerB and printing
eDuipment< machinerB telephone
7