Английский язык для экономистов - Малюга Е.Н.
ISBN 5-469-00341-8
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Appendix A
4. While acknowledging that the deposit insurance system needs reform and agreeing with other FDIC recommendations, Greenspan took Bush's side, saying raising the ceiling would "reduce the incentive for market discipline, without providing any real evident public benefits."
5. A rash of bank failures in the United States during the Great Depression led to the institution of federal deposit insurance in 1934.
E. Render the extract from the article using the active vocabulary.
Владимир Рашевский стал новым председателем правления МДМ-Банка, пользующегося за рубежом репутацией надежного российского банковского учреждения. Это деловой банк занимается, в основном, торговлей иностранной валютой. Он управляет авуарами в размере 1,5 млрд долларов, а чистая прибыль банка за прошлый год составила 120 млн долларов. Владимир Рашевский, находившийся в Женеве проездом, дал интервью корреспонденту газеты Le Temps.
— Вы рисуете очень суровую картину банковского сектора в России: засилье государственных банков, плохое управление предприятиями... Чего следует ждать в будущем?
— Текущий момент, действительно, не слишком благоприятный, но благодаря реформам ситуация должна улучшиться через два или три года. До 2004 г. все банки должны перейти на международные стандарты системы учета. Мы применяем нормы учета IAS с 1994 г. Другой момент: будет увеличен размер минимального обязательного капитала, необходимого для открытия банка. Это приведет к значительному сокращению числа банков. Еще несколько лет назад их насчитывалось более 5000. Сейчас уже не больше 1700 банков. И я думаю, что через пять лет останется 300 или 500 банков.
Unit 8. Financial Markets and Investments
A. Read the extract from the article from the CNN Money website and complete it with the expressions listed.
curb highs spurred flat equity market
soared import tariffs pickup jump
regained rallied fueledslow-growth
Steel's Red-Hot Resurgence
Steel stocks have ... (1) as the economy rebounds and the tariffs take hold, but can they go higher? Appendix A
279
New York (CNN/Money) — Steel stocks have... (2) some luster in recent months as the economic rebound has spurred demand for steel and investors have bet the ... (3) that took effect Friday would help the industry.
The question for investors now is, do the stocks have much room to rise further or is the party over for this typically ... (4) sector?
"We think some of these stocks are attract ive. Steel prices are rising and a number of these stocks have made a strong move in a ... (5), but some of them are starting to look a little pricey," said Wayne Atwell, analyst with Morgan Stanley.
The rally in steel stocks in part reflects an increase in the price of steel, due to the ... (6) in the economy even before the tariffs took hold. The stocks of major U.S. producers of hot-rolled sheets of steel, used for car and appliance manufacturing, have ... (7) from their post Sept. 11 lows.
In January, hot-rolled sheet cost about $ 210 a ton, but now prices are reaching $ 330-to-$ 350 a ton, near the... (8) hit in late 1997 and into 1998, according to Mark Parr, industry analyst with McDonald Investments.
A combination of strong car sales ... (9) by incentives from auto companies, reduced supply due to mills going dark, and talk of the coming tariffs ... (10) the recent price increase, Parr added.
"In advance of the tariffs, the mills were in the market indicating [the tariffs] were coming and encouraging buyers to get orders in," he said. "The tariffs were higher than some investors expected and reinforced the price... (11)."
The Bush administration announced the tariffs last month, saying the duties ranging from 8 to 30 percent would help ... (12) cheaper steel from flooding the US market, allowing a key domestic industry time to get back on its feet.
B. After filling in the gaps read the extract once more and decide which of the statements are True and which are False and write T for True and F for False.
1. Demand for steel has increased due to the economic recovery.
2. Investors are sure that stocks have much room to rise further.
3. Steel stocks depend on the increase in the price of steel.
4. In 1997 the price of hot-rolled sheet was $ 210 a ton.
5. The Bush administration hoped that the tariffs would prevent the flooding of the US market with expensive steel.
C. Give English equivalents and makeup your own sentences:
¦ наиболее популярные акции, имеющие высокий курс;
¦ размещение акций;
¦ переходить в другие руки; 280
Appendix A
¦ рынок с понижательной тенденцией;
¦ повышение цен/курсов на рынке.
D. Translate the following sentences into Russian.
1. The staggering number of steel companies seeking bankruptcy protection since 1997 is a sign of the industry's plight in recent years.
2. The stocks of all three companies are currently trading under a dollar.
3. Reflecting improved prospects for some of the companies, Morgan Stanley upgraded US Steel recently to an "overweight" position from "equal-weight" due to "tightness in the market and our expectation for higher prices."
