НЕКОТОРЫЕ ФИЗИЧЕСКИЕ ПОСТОЯННЫЕ
to raise money (cash, finance) – мобилизовать, привлечь денежные средства (наличность, финансовые средства)
1. But if that is not sufficient to reduce the deficit as much as you should, then there is no alternative but to raise taxes. 2. He is trying to sell off four building plots on his estate to raise the needed cash. 3. If you are in the position of selling a larger property and buying a smaller one, then you will not have to raise finance. 4. This may make it more difficult for these firms to raise finance in the future. 5. It’s pretty obvious that American producers are going to find it a lot easier to raisemoney than British producers. 6. I was doing a charity (благотворительный) show two weeks ago to raise money for our local scouts. 7. Jazz Against Apartheid is an organization launched early this year to raise cash for black South Africa. 8. Analysts worry that Japanese investors may be forced to sell some of their shares to raise cash. 9. It was about how difficult inventors find it to raise finance to bring their inventions tomarket. 10. The government’s choice of how to raise finance depends on its monetary policy. 11. It would be impossible to raise money without their help. 12. They are not in the position to raise taxes or print money. 13. On September 10, Bush presented a new economic package which included a proposal for large tax cuts and a promise not to raise taxes again “ever, ever”. 14. Bush attacked Clinton as being untrustworthy and for planning to raise taxes. 15. Some schools have started up businesses to raise money. 16. Have you had to raise money and implement plans? 17. Their ability to raise capital was tightly controlled. 18. The problem is that like most other private Russian companies, Anis finds it impossible to raise capital. 19. This factor may encourage building societies to seek corporate status since they willthen be able to raise capital on the open market. 20. Financial markets now expect the Fed to start raising rates this summer. 21. Both the Bank of England and the Reserve Bank of Australia have raised interestrates recently.
Exercise 17. to offset - 1) компенсировать 2) свести на нет
1. But the drop was more than offset by a 33% increase in sales to Europe. 2. Some buyers have offset higher rates by shifting from fixed-rate to adjustable- rate mortgages that usually have lower rates. 3. This growth rate meant high job creation, which offset rising productivity and brought down the rate of unemployment. 4. Recent wage hikes seem to be offset by productivity increases. 5. That allows employers to offset any wage increases with higher productivity. 6. The gain in exports was offset by expanding imports. 7. Export sales offset the slump on the domestic car market. 8. Strong imports from Britain, France and Italy to America offset falling exports to the rest of the world. 9. A slight increase in the share of exports of basic materials was offset by a lower proportion of fuel exports. 10. The increase in the import bill was offset by a substantial improvement in the tourist receipts. 11. For the 1984 - 1985 financial year as a whole, higher oil revenues are likely to be more than offset by higher expenditure.
Exercise 18. argue - 1) спорить 2) аргументировать, приводить доводы argument - 1) спор 2) аргумент arguably - несомненно
1. But Bankers Trust, arguably the preeminent bank in derivatives, has been the most vulnerable. 2. This time the bulls may have a better argument. 3. Many mutual-fund companies will fight the Fed’s suggestions arguing they could crimp the managers’ ability to run the fund. 4. Such arguments can overlook what hasn’t changed: human nature. 5. A Fed official argues that for every point that joblessness is below NAIRU for a year, inflation rises just a half-point. 6. Justice will argue that what is OK for most competitors to do is illegal when a monopoly does it. 7. Microsoft will argue that, despite its high share of the PC market, it’s not a monopolist. 8. That novel proved a point that he had been arguing for years: American fiction could portray the hectic complexities of contemporary social life. Some experts argue that advances in information technology have changed the life in cities. Exercise 19. the likely + существительное - вероятный возможный, подходящий, удовлетворительный, удобный, заслуживающий доверия likelihood – вероятность in all likelihood – по всей вероятности, по всей видимости
The Liberal Democrats have been conducting a national survey about the likely impact of the Government’s proposals for the health service. The question is important because it gives some clue as to the likely rise in the long-run house prices. First on the agenda of the new Minister is likely to be the future of the BBC, whose charter is due for renewal in 1996, during the likely lifetime of the new Government. Current product prices convey information to producers about the likely reward of manufacturing a particular product. In 1950 the likely future evolution of Japan was open to diverse interpretation. He prepared a report for the Council on the likely cost that would be involved in reorganising local government in Wales. The two men were to assess the likely future production and the number of pickmen to be employed. It’s necessary to evaluate the likely consequences for regional and local differences in economic and labor market performance. This should identify the likely benefits to KPMG. The likely job-losses result from the withdrawal of Government grant for the Chambers Street dental hospital and school. The likelihood is that after such a short time in Vienna, he will stay on there. There seems little likelihood that scientific experiments will be able to demonstrate the effectiveness of the medicine in the population as a whole. In a monopoly situation, the producer may be able to use his market power at the expense of the consumer, although the likelihood of this happening will be moderated if close substitutes for the product exist. In all likelihood it would have been considered by the Air Ministry with the many other schemes, from the possible to the ridiculous Although it cannot be proved, there is a strong likelihood that they were working at the old mine in the early part of the century. There was little likelihood that he would believe it. Their new transnational roles would naturally increase the likelihood that they would identify their interests with the global capitalist system. She cannot even begin to comprehend the frustration and despair of young people who can see no likelihood of ever finding meaningful employment. This reduces the likelihood of accepting a deal which, with hindsight, should have been rejected. A year form now, in all likelihood, the world will look back on the merely disappointing year of little or no growth in Britain and America. This difference may affect the stability of the employment, and the likelihood that it will generate further growth in the region concerned. The company told us that even if the package they put to us was accepted, there was a 90% likelihood of the plant closure by Christmas. Much of the political education of the 1970s in all likelihood differed very little from the best practices of the 1930s. One of the least realistic was an Iranian proposal, the implementation of which would in all likelihood have turned Afghanistan into a pro-Islamic state distanced from both East and West.
Exercise 20. so far - до сих пор, пока еще in so far as – насколько, поскольку thus far – до сих пор, пока
1. These contracts have only just started in Britain and so far people have treated them cautiously. 2. The work so far has limited itself to scientific and technical problems, neglecting political and legal issues. 3. Thus far, he hadn’t enjoyed any success. 4. Thus far the law is clear. 5. In so far as the government wants to have money to spend, it must be raised. 6. This problem has been carrying on for two months or more, and so far I have not found a successful treatment. 7. The international global warming treaty has so far been ratified by 31nations, out of 50 required for entry into force. 8. The “market egalitarianism” argument embodies the idea that all individuals in the market should be placed on an equal footing, in so far as that is possible. 9. The total value of sales is $80 million so far. 10. Without him, I don’t think I would have got so far in my career. 11. Stephen has shown himself capable thus far. 12. Accounting statements from the past were relevant only in so far as they provided some clue to future cash surpluses. 13. Thus far the situation is stable. 14. Nevertheless, in so far as changes in interest rates affect expectations, lower interest rates may still contribute to higher investment. 15. Thus far, the Commission has no funding for its project. 16. Thus far, only the largest dam, at Sardar Sarovar, has been half-completed. Exercise 21. given - учитывая, принимая во внимание, при (данных обстоятельствах) barring – за исключением, исключая, если не
Given the obsession with jobs and overseas “outsourcing”, Kerry suggests that government policy should encourage US companies to invest here, not abroad. Given the worries about deflation, many central bankers see a small acceleration inconsumer prices as a sign of success. Given the recent price rises in the world markets, the increase in the country’s trade deficit is sure to be very large. Given the prospect for demand and output, and given the continuing rapid rise of prices, it will be wrong to take any steps to stimulate the domestic economy. Given Italy’s profusion of stores, it is not surprising that chain outlets, which represent only 1% of all stores, have comparatively little impact. Prior to the onset of the drought, the government’s agricultural policy tried to discourage farmers from planting much land to soy beans given the depressed world markets. Given success on the above-mentioned points, it would be possible to approach the problem in a different way. The economic problem can be solved within a hundred years, given no wars and no large population increase. But given the lower rate of investment, the balance of payments came under periodic pressure. Given that protection is a symptom of a troubled economy, it is no surprise that the last year has seen the symptoms spread. Given enough time, the treaty might have become as successful as the Anglo-French commercial agreement of 1861. 12. Given these hurdles, it is surprising how well many of them have done. 13. This is unlikely given that most of the countries view the entry of the other two with even less enthusiasm. 14. Given the slow pace of evolutionary change, our preferences aren’t likely to fade in the foreseeable future. 15. Given the practical difficulties of the territory, a personal demonstration of reliability is important. 16. Given the weakness of the sector, analysts doubt there will be a stampede to buy shares in any of the three banks. 17. A Japanese government’s spokesman said that given continued parliamentary stalemate, a stopgap budget of at least 30 days is unavoidable. 18. Given the challenges that Ikea faces, Komprad’s eventual retirement is a pressing issue. 19. Although it’s a difficult step to take, it is one that, given the realities, we must do. -------------------------------------------- Barring market collapse, they should retain their premium. Barring any unforeseen epidemic, we’re not likely to be rushed off our feet. His back is broken, and, barring a miracle, he’s crippled for life. Barring injury, Wharton (football player) should be clear to defend his title on April 8. If they’d like to come to the fire station, barring fire calls, they are more thanwelcome to. Barring poor climatic conditions, such as a shortage of rainfall, this year’s harvest of fruit and vegetables across the country is expected to be excellent. Barring the most unforeseen circumstances, the accounts for the current year will show further progress. Barring strong headwinds, the plane will arrive on schedule. Barring mishaps, he can expect to see out the remainder of his two-year term as prime minister. Government would benefit if, barring accidents, Secretaries of State remain with their departments for longer. Barring wars and acts of God, it would be a front-page headline on Monday. The young working-class man in industrial employment could expect his income to reach its peak in early manhood and stay constant thereafter, barring disasters such as unemployment. Barring a last-minute volte-face (полное изменение позиции) by the Ministry of Defense, the aircraft will then be at the mercy of the highest bidder, who might just be a scrap dealer. I’m here for three weeks barring accidents or terminal boredom. Barring a resolution of the East German wage situation, the next cut in rates may be at least a couple of months off.
Exercise 22. for - 1) предлог: «в течение (какого-то) времени» союз: «так как», «потому что», «ибо»
That is surprising enough given that he is a journalist, for who, after all, trusts that breed? Historians are particularly adept at strategy, for they can draw their principles and lessons from hundreds of years of experience. Wouldn’t it be natural to credit Fed policy for the behaviour of the economy changed in a way central bankers have long sought? It is driven by competition, for necessity has always been the mother of invention. They (pictures) proved too exotic for Parisians, in public at least, for Matti had already sold a third of his catalogue in the privacy of his gallery. Sometimes she felt she was in danger of neglecting the rest of her pupils for though her voice continued to drone on she was in reality watching Paula. In both cases popular music is located within a larger field, for in both cases the nature of popular music is established through comparison with something else. His pose as a victim was utterly essential to his own sense of being for unlike Lewis he seldom enjoyed the friendship of his contemporaries.
Exercise 23. far from (doing)something – далеко не; вместо того, чтобы; не только, но и far from it – отнюдь нет He himself was feeling far from good that day. It was, of course, far from being his only achievement. But it’s far from the only service we offer you. But his answers are far from satisfactory. And although the housing market is far from booming today, business hasn’t suffered unduly, thanks to its good reputation among homebuyers. Far from realizing $100m which was originally talked of, the sale may now fetch as little as $6m. But the battle is far from won. This is not to suggest that English villages are currently hotbeds (очаг, рассадник) of social unrest, far from it. Indeed, it was far from clear how the abolition of these authorities would save money. But far from alerting people to the danger of environmental degradation, the theory was completely neglected. He has carried out extensive research into tie wearing and has discovered that, far from being viewed as a current trend, the tie is considered an essential item in a man’s wardrobe.
Exercise 24. for all + существительное, for all that– несмотря на, и все же for better or worse – так или иначе
For all Mr.Greenspan soothing words, banks have suffered. For all the surface change that accompanied the industrialization of Prussian andGerman society the social and political pressures remained uniform and constant. For all its efforts to make good the loss of over 100 years, Poland was not invited to join the club of industrialized nations. But for all that, they are only parts of the political system. Yet for all her passionate dedication to public service she also knew how to enjoy herself as an elderly lady was often seen at the gaming tables of Monte Carlo. For all that it was a truly wonderful job. For all its shoddiness (претенциозность), people flocked there, day and night. For all their differences on outlook, Jane forged a secure bond with Laura. For all its many travels, the Cup itself is in perfect shape without a single scratch upon it For all his incompetence in wartime, Hoover was now settled in the Washington game. For all the gloom in the property market, there remains an insatiable demand for old buildings to restore. For all his wealth, title and position, Stephen was still rather in awe of Tamar’s father. It was as if the sun has suddenly come out and for all his age and infirmity (слабость), Lovat caught his breath. For all these variations, working class people appear consistently drawn towards the politics of the middle classes. The British, he felt, for all their supposed superiority, were marked by insularity (ограниченность), and were by European terms quite backward, culturally. For all its pretensions to science, advertising was still a service business. For all their similarities, Microsoft and Nokia differ in one crucial aspect. For all the talk about strategic partners, only two things are pushing big companiestoward each other. For all the rhetoric of a “classless society”, the reality remains of a nation in which inherited wealth and privilege matter far more. For all my art, it could tell me only one thing – that no one could restore it to its place. It is a slogan which, for all its rhetorical flourish and historic associations, has neverbecome a part of the law in Britain. For all its problems, Japan’s sophisticated economy is bigger than South Korea's. For all their affluence, his chief characters hunger for a code of conduct that will make sense of their lives. For all its success, Dell has had little experience with these marketing ploys.
Exercise 25. after all – в конце концов, все же, ведь
After all, they now had no income After all, paying for something that does not work is presumably more likely to produce frustration than receiving the same ineffective “carefree”. After all, unless we can show that we are able to do better with the totality of the sums, and the totality of the business, why should any shareholder believe that we know better how to deal with his money? After all he is no more than the chief executive officer of government, its province is not to make but to execute the law. After all, it’s in their interests to keep you going –if you are pushed into total insolvency you become a worse debt to them. After all, even the official sales pitches were often so uninformative, or too ill-spelt and ungrammatical to be of much use. After all, Western countries had earlier supported Iraq in the war with Iran, even though it was started by an illegal Iraqi act of aggression. Technology made it possible, for after all the major means of transporting bulk produce over long land distances, the railroads, was hardly available before the 1840s. After all, we all do want to live in safer cities, and we all do want employment and material affluence. The Bangles were, after all, a hot money-spinner for the big corpos. DEC after all is a Boston company, and Boston has a large populationthat traces its roots back to Ireland. Branson, after all, owned 85% of Virgin. After all, the poverty of older people has been recognized by both official and independent research for over 100 years. After all it was the family money. This, after all, is a program designed to cut the US budget deficit and boost the economy. Soon, after all, some 700 European countries will be using International Accounting System (IAS)
Miscellaneous Few economies in the world can have been subject to such external shocks this year as Argentina’s. But officials believe that emerging market economies have precious control over monetary policy. The country is thought to be concerned that lower rubber prices could further damage its weak economy. It has been a major negative and one of the main reasons why the market has slowed down considerably. On the one hand, they were already pretty lean and so there were no new major benefits to be gained from cutbacks. The critical test of just how good monetary policy has been may be still to come. China’s state banks were officially said to have bad loans equaling about 25% of the total, equivalent to some $200bn. The mood of the meeting was said to be very constructive, with a great deal of unstructured debate. China has yet to signal its preparedness to begin detailed talks on a series of EU market access. It could well steal more business from Hong Kong. In order to bring Spanish interest rates into line with those in the euro area, at least one more cut rate by the Bank of Spain is expected. By yearend, the US alone will have seen nearly $1.3 trillion in mergers. He has embarked on an even more ambitious crusade that has anti-trust lawyers again predicting failure. For all his professional moderation, Bayer has often gone out on legal limbs. He taught them how to bend over backward for customers and paid them well once they learned the ropes. The industry argues that relief is particularly necessary because the weakness of the Brazilian and Chilean currencies means Argentina has lost some competitiveness. Whatever the role of the banks in the downturn, analysts agree that the banks are highly liquid and well positioned to step up lending as the economy shows further signs of recovery. Some analysts have even begun to question the long-term viability of the industry in Argentina, with its fixed exchange rate, given the huge price advantages of its giant neighbour (country). At least 40% of the parts used to manufacture a car in Argentina must be made in the country for it to be considered locally produced. The IFO index (an important indicator of the outlook for growth in the euro-zone as a whole) survey of West German business conditions saw its highest monthly rise in more than three years. The Paris-based OECD was understood to have complained to Madrid about the leak, which went against “standard practices”. The other good news is that its market is growing too big and diverse for any company to dominate. Baan (the Dutch software giant) may well emerge from this takeover stronger than ever. The size and geographic spread of recent mega-mergers makes them hard for one leader to manage. Far from fending, the two became partners. We can’t let them have an eternal poison pill. Yet companies like General Motors Corp. are still plunging ahead with billion-dollar investments, despite cars being more expensive now in China than in the rest of the region. Taiwan’s biggest computer product makers, after all, have small foreign debts and are enjoying steady business. At stake is nothing less than a battle over which type of software might prevail in the 21st century. European competition will increase, not least because the euro should lead to greater liberalisation in Europe’s capital. But if and when it wants to do a deal for shares, London-listed paper is likely to prove far more acceptable to most international investors than Johannesburg-listed paper. A legal dispute over land rumbles on, and many of its older staff are said to be leaving. Hopes that an unintended ban would be lifted by the end of this year have yet to be fulfilled. Far more fanciful are reports of a Ford-Fiat linkup, which Ford denies. Indeed, Fed Chairman Alan Greenspan is said to believe that there’s no evidence that underlying productivity growth is slowing. All told, the high-tech boom is cutting one half percentage point or more off inflation. To sustain growth, companies will have to push hard on boosting productivity, rather than adding workers. You are trying to imagine the “what ifs”. First-half spending will approach, and possibly exceed, the fastest two-quarter growth rate in a decade. It is expected to have cut it (the price) further by the end of the year. His woes could grow even worse if AOL stock keeps falling, perhaps putting the deal in jeopardy. But barring that, Turner may be looking for new world to conquer. He’ll have his work cut out for him now, with the new merger ushering in a whole new set of personal tensions and corporate culture clashes. He (Bill Gates) talked enthusiastically about how much he was relishing the firm’s biggest challenge yet: marshalling all its resources to produce a new bet-the-company generation of software. It also makes sense for the company to own movies, music, and magazine articles – so it can milk online consumers for plenty of bucks. Once the Internet gets faster and more ubiquitous, it’s reasonable to think that the mammoth new company might indeed make a mint from its media properties. With his high-decibel, hit-‘em-again ethic, Ballmer has already put his imprint on the company. But sizable deals, shaped by local conditions, may well be hastened by the American example. The head of the National Bureau of Statistics warned that officials caught cooking the books will face stiffer penalties and could get sacked. The Group of Seven meeting that takes place in Tokyo, is shaping up as an us- or rather US-versus- them event. Suspicion is rising among the US officials that their European counterparts are turning a blind eye to the weakness of euro, which makes European exports to the United States cheaper. Growers who overproduced paid few penalties because the national wine co-operative took the responsibilities for selling all the surplus. The Japanese are well aware they are in a deep soup, but the soup is largely the well-cooked stock of their embedded culture. Japan’s failure to open its economy and bend to US ways is not a product of willful Japanese stubbornness, much less a national failure to recognize that serious changes in their economy are needed. The new European investor is young, more informed, technologically literate, risk-aware and performance hungry. US banks pose a challenge because their approach is more modern, more in sync with the active investor. Mexico, the other major country for Latin American investors, benefited from its ties to the robust US economy, falling interest rates and signs of renewed consumer spending, reflected in stocks such as Cifra SA, the large discount retailer, which soared 65%, most of it in the last quarter. Instead, he found big winners in Turkish bank stocks, whose share prices rocketed as interest plunged to a mere 40% from more than 100%, and talks got underway with the International Monetary Fund on how to banish hyperinflation permanently. Lawrence Summers, US Treasury Secretary, yesterday renewed his offensive against what he called “complacency of diminished expectations” in both Europe and Japan. His message was that reform to remove structural obstacles to growth was needed in both Europe and Japan – and that policy-makers in those countries should use the slack in their economies to avoid unnecessary economic tightening in order to make implementing these reforms easier. The scale of the operation that she is said to have masterminded provides a staggering insight into how corruption has permeated the fiber of China’s state apparatus. Foreign Office ministers and officials are furious that Mr.Brown (the Chancellor of the Exchequer) has become the darling of the eurosceptic mass-market press because of his reported cooling towards euro. But Mr.Brown appears reluctant to extol the possible advantages of the euro, other than to say the Treasury will judge participation on its five economic tests. Prudential Corporation has pulled off a neat trick in agreeing to buy National Westminster Bank’s life insurance subsidiary, should Bank of Scotland’s bid for the parent prove successful. Arguably, in the “new economy” of huge equity returns and virtually free venture capital funds it makes little difference to spending decisions whether rates are 5 ½ or 6 per cent. The IMF is hardly the only institution to hear the winds of change whistling past its door. But it is a logical place to a storm to hit. The Japanese request that Mr.Sakakibara be given the IMF job amounts to a knock at the door of one of the West’s most exclusive clubs.
НЕКОТОРЫЕ ФИЗИЧЕСКИЕ ПОСТОЯННЫЕ
Таблица П. 3.
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