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Business and Finance — Level 2



Exercise: Translate into Russian.

production costs, labour costs, bid (bidding); competition, competi tive(ness); to run a company; to revalue — ant. to devalue (devaluation of the national currency), exchange rate (floating/fluctuating rate); to rise (fall) against the USD; stock index, earnings, returns, yield; returns on (securities); high yielding securities (paper); bonds, all-stock merger, merger and take-over; (share) holders; a tall order; assets (ant. liabilities); supply and demand theory; to write off (debts), early (late) trading (on the stock exchange); futures (futures market, futures deals), hedging, profit margin (margin), net profit (net); to post (a profit ...) = to register, announce; to cut work force by (reduce, lay-off); to take a charge = to pay compensation (severance pay); to surpass = to exceed, at the top (low) end of expectations; premium, to pay a premium (interest) on.

NB! to go up = to grow, increase, to be up; jump, climb; leap, soar, reach a new high; to consolidate, rally, rebound (shares, stock-market); to go down = to fall, decrease, slide, to be down; drop; shrink, plummet, tumble; collapse; melt down, crash (markets).

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Carl C. Icahn announced a surprise bid to rescue Pan Am from bankruptcy. A U.S. judge rejected (turned down) the offer, which involves a payment of S33 million and an assumption of $10 million in liabilities (debts).

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U.S. stock indexes have risen nearly 10% this year, exceeding analyst's targets. Despite lofty (high) prices, investor money keeps pouring in. On Friday, the Dow (pr. [dau]) Jones Industrial Average fell 57.04 to 8602.52.

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Sega will take a write-off and report a loss for the year ending March 31. Most of the losses are related to the dismal performance of Sega Saturn, a home video-game machine.

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Metromail accepted a bid of about $740 million from Great Universal Stores, which said the accord (agreement) is an important step in its strategy to develop a comprehensive (major, all-embracing) information-services business.

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Warren Buffett told shareholders of Berkshire Hathaway that there's no reason to think of stocks as overvalued, despite a paucity (few) of bargains in the U.S. market. Meanwhile, Buffett's moves will have a big effect on the price of silver. But in a letter to Hathaway holders (shareholders), he didn't say whether its big stake in the metal is a longer-term or short-term play.

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British Airways is in talks with National Express Group of the U.K. over a possible bid to jointly run the Eurostar rail service.

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Eurobond investors are shifting their focus to debt issued in zlotys and korunas as returns (profits) on high-yielding paper from Italy, Spain and Portugal shrink (go down, fall) ahead of economic and monetary union.

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IBM is acquiring Chem Systems. The company is believed to be paying about S30 million for the prominent consulting firm in the chemical and petroleum industries.

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Japan's quest for a market rally (consolidation) has prompted officials to use methods they have said run against (contradict) reform. News of possible use of government money to buy stocks sent the Nikkei Stock Average up 2.9%.

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Hilton confirmed it's discussing an all-stock merger with Circus Circus, a move (шаг, мера) that would separate Hilton's casinos from its hotels, creating a gambling-industry giant.

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Electrolux's board will be joined by top executives of Sony and Heineken. SKF and Scania, also holdings of Sweden's Investor AB, announced moves to internationalize their boards as well.

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Japan is looking for a new central-bank governor (chairman) to replace the current chief, who offered to resign after the arrest of a central-bank official. But finding scandal-free candidates is a tall order (not easy).







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