2020-10-10
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small advantage..............
people who support a plan, especially by providing money ……….
property or money that you promise to give someone if you cannot repay a debt ……….
business that is a single unit from a legal or accounting point of view …………
documents giving the details of products that someone has bought, and requesting payment for them ……….
increasing in a way that is difficult to manage ………
income, revenue ……..
a successful business …….
companies that have been bought by other companies ………
Ex. 7.5. Read and render the following text in English.
НОВАТЭК, который долгие годы носил звание второй по величине газовой компании России без всякой надежды когда-нибудь стать первой, в некоторых областях начинает опережать «Газпром». Уже в этом году компания станет крупнейшим производителем СПГ в стране, а теперь обогнала «Газпром» по капитализации. Аналитики указывают, что рынок по-новому взглянул на перспективы СПГ-проектов НОВАТЭКа после запуска «Ямал СПГ» и роста цен на нефть.
НОВАТЭК спустя 13 лет после IPO обогнал по капитализации крупнейшую в России и мире газовую компанию «Газпром». На Московской бирже к 15:30 четверга капитализация НОВАТЭКа достигла 3,567 трлн руб. против 3,525 трлн руб. у «Газпрома». Таким образом, «Газпром», который в 2007–2008 годах был крупнейшим российским эмитентом по капитализации, продолжает пропускать вперед конкурентов, причем теперь не только нефтяные компании («Роснефть», ЛУКОЙЛ), но и сходный по профилю бизнеса НОВАТЭК. Для сравнения, в 2005 году, когда НОВАТЭК провел IPO, разместив глобальные депозитарные расписки (GDR) на Лондонской бирже, его добыча газа составляла только 4,5% добычи «Газпрома». К 2017 году соотношение выросло до 13,4% и продолжит расти, поскольку НОВАТЭК планирует крупные новые проекты на Ямале и Гыдане. В конце этого года НОВАТЭК собирается запустить третью очередь «Ямал СПГ» и выйти на производство 16,5 млн тонн в год, тем самым превзойдя мощность СПГ-завода «Газпрома» на Сахалине (около 10,5 млн тонн).
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Если рост цен акций НОВАТЭКа в принципе объясним, то причины низкой стоимости акций «Газпрома» понять сложнее. В конце августа «ВТБ Капитал» выпустил отчет, в котором указал, что рынок оценивает стоимость «чистого» газового бизнеса «Газпрома» (без учета казначейских акций и 9,9% в НОВАТЭКе) ниже, чем стоимость «Газпром нефти» или «Татнефти». При этом выручка и EBITDA газового бизнеса «Газпрома» намного превышает выручку этих компаний, а сам «Газпром» не находится под финансовыми санкциями.
Ex. 7.6. Make phrases by matching an item from each column:
| wait | a gap in the market | |
| grow | more staff | |
| spot | for invoices to be paid | |
| take on | a critical mass | |
| bring in | the risk of the business failing | |
| enter | or shrink year by year | |
| extend a line | of credit | |
| go | the business as a going concern | |
| grow | public | |
| achieve | a huge amount of money | |
| employ | a growth phase | |
| sell | organically or by acquisition |
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Ex. 7.7. Fill in each gap with one word from each box, written together.
| over under |
| charge cut estimate expand perform ride spend take |
1. If you grow a business too quickly and take on too much risk, you ….
2. If you sell goods at a lower price than your competitors, you … your competitors.
3. If you don't make as much money as expected, or you are less successful in your job than expected, you …...
4. If your company goes past another in terms of sales, profits, market share, etc, then you …. it.
5. If you use too much money, or more than you planned, you …….
6. If you ask a client for too little money (usually by mistake), you ….. them.
7. If you use your authority to reject somebody’s decision, you ….. them.
8. lf you think that something is small or less important than it really is, you ….. it.
Ex. 7.8. Complete each sentence with the correct form of the underlined word. In some cases, you will need to use the negative form.
1. produce
- Although the meeting went on for hours, it was rather ……………...
- Since we introduced the new pay structure, ……………… has improved enormously.
2. profit
- This line of raincoat is highly ……………. – we must dis-continue it as soon as possible.
- If we are serious about improving the …………….. of these outlets, we should take a good look at staffing costs.
3. promote
- We expect all our ……………. activities to cost around $2 million.
- …………….. is a very important marketing function.
4. rival
- The …………….. between soft drinks companies, Coca-Cola and Pepsi Cola, is very fierce.
- Otis is known all over the world as a manufacturer of lifts. Its reputation in the industry is …………...
5. sell
- Which is your best-…………. product?
- Our ………….. force doubled when we took over our chief competitor.
6. value
- Our stock is so ……………. that it cannot be left unguarded.
- We were most impressed by the consultants we hired - their advice was…………….
7. advertise
- In our new campaign, our main ……………. medium will be television.
- Benetton produced a series of eye-catching …………… for their products.
8. associate
- Engineering firms often work in …………. with other companies on a major contract.
- When there is a financial scandal, business people often try to ………….. themselves from those involved.
9. consume
- Food, clothing and household products are all examples of …………… good.
- Wine …………… is high in France, and on the increase in other European countries.
10. market
- To make money, you don’t just need a good product - you also need excellent ………….
- Some products are very innovative, but they simply aren’t ……………..
Ex. 7.9. Choose words from the box to complete the sentences below. Use your dictionary and grammar book to help you decide which words are both appropriate and grammatically correct in each case.
| REASON | because as so since therefore consequently |
| CONTRAST | although despite in spite of but however nevertheless yet |
Selling your business as a going concern can be very risky …………, it can also be very lucrative.
1 The value of controlling stake is crucial, …………. most CEOs switch back to their major policies when the complacency ends.
2 Companies have to keep their shareholders happy………….., brand managers are under pressure to find ways of boosting sales.
3 …………. a brand may sell well in one country, it may not sell at all in another.
4 Price is a signal of quality, ………… consumers well often pay more for premium brands.
5 In 2018, a number of sole proprietors accounted for around a third of all businesses, ………., in 2008, the picture was very different.
6 ………… their disappearance from the market, Nokia’s mobile phones continued to rank second with consumers 20 years later!
Ex. 7.10. Choose the correct form of the correct verb from the box to complete the sentences that follow. (Transitive verbs are verbs which take an object, intransitive verbs take no object).
| to occur / come into being / appear / become evident to increase / go up / reach a higher level to obtain / generate / acquire / collect (funds / support) to bring up / put forward / mention to reach a higher position / rank to put up / cause to increase / make higher to heighten / extend / intensify |
1 The chairman ………….. the question at the next meeting.
2 Some unexpected difficulties have …………...
3 The company’s turnover has …………. steadily in recent years.
4 In business, it is often necessary to ………….. finance for new projects.
5 I would like to …………. an important point here, if I may.
6 She …………. to a senior position in a very short time.
7 The government has …………. interest rates again.
8 I hope this situation will not ………….. again.
9 The company could not afford to ………….. salaries in line with inflation.
10 Unemployment continues to …………… steadily.
11 The problem …………… through inadequate supervision.
12 The campaign certainly succeeded in …………… awareness of the issue within the business community.
