Exercises. • morning • understanding

1. Read the following:

• morning • understanding

during financing

having changing

speaking lending

• next morning, next evening

• after having breakfast

after having lunch

after having dinner

before having dinner

• There was a problem of speaking English.

There was a problem of understanding English.

It was a lecture on financing small business companies.

They enjoyed better terms during the first years of their work.

2. Underline the answers true to the text:

• When did the participants go to the conference room to have the first lecture?	The next morning. The next afternoon. The same day the group came to London.
• What material was prepared for the participants?	A video cassette on the topic of the lecture. Material relating to the lecture. A video cassette with sights of London.
• To what topic or subject was the first lecture de­voted?	To banks. To trade finance. To management.
• Who was the lecturer?	Mr. Hill. Another Englishmen. An American economist.
• Why did the participants interrupt the lecturer?	To ask questions. To explain some statements to the other participants. To develop some statements for the other participants.
• What did Mr. Lvov do during the lecture?	He didn't speak. He only read the material in the folder. He helped the participants to speak English and understand the lecturer.
• About what aspects of small business did the lecturer speak?	Only about some better terms during the first years of business. Only about reduced taxes dur­ing the first years of business. About better terms, reduced taxes and other facilities especially during the first years of business.

3. Translate into English:

Затем они отправились в конференц-зал.

М-р Хилл читал лекции "Финансирование торговли".

Перед каждым участником была папка с материалами.

Иногда участники прерывали м-ра Хилла и задавали вопросы.

Андрей помогал им, когда у них возникали затруднения с английским языком.

Лектор посвятил часть лекции малому бизнесу.

Он говорил о более выгодных условиях, сниженных налогах и других льготах.

4. Match English and Russian sentences:

Trade needs finance.	В обоих случаях лучшим ис­точником финансирования являются банки.
This must come from either the trader or from a lending institution	Для торговли необходимо финансирование.

If the trade is international then the amount of finance is normally greater.	Оно (финансирование) должно исходить от продавца или финансовой организации.
In general, trade is handled on credit.	Покупатель оплачивает товар в указанный срок после по­лучения товара.
The buyer pays for the goods at a specified time after receipt.	Это увеличивает потребность в финансировании торговли.
This adds to the need for fi­nance	Если это внешняя торговля, то сумма финансовых средств обычно увеличивается.
On both counts the bank is the best source of finance.	Обычно торговля осуществ­ляется с использованием кредитов.

5. Insert articles:

Finance must come from either... trader or from.. lending in­stitution.

If tiade.. is international then... amount of finance is normally gieatei.

. buyei pays for... goods at... specified time after receipt.

If.. trade is international then delivery time adds to... delay in payment.

Also in international trade... buyer uses one currency,.. seller another.

6. Insert prepositions:

In general trade is handled... credit.

Then delivery time adds... the delay... payment.

This adds... the need... finance.

This requires an organisation... facilities... changing cuiiencies.. both counts the bank is the best source... finance.

7. Translate into English:

папка с материалами Торговля осуществляется с

использованием кредитов.

папка (скоросшиватель) источник финансирования

финансирование торговли в указанное время

продавец после получения

покупатель задержка платежа

в кредит валюта

8. Sum up what Mr. Hill said about:

ü sum up — суммировать

• trade finance in general

• financing small business companies

9. Agree or disagree:

Small business companies pay reduced taxes in Russia.

10. Role play:

Imagine you are a lecturer. Speak on financing small business companies in Russia

Unit twenty

Banking

Text

The next day the session was devoted to the United Kingdom

Banking Sector.

Here is the short summary of the lecture:

The UK Banking Sector
Retail Banks
Discount Houses
British Merchant Banks
Other British Banks
American Banks
Japanese Banks
Other Overseas Banks
Total
In addition there are 92 Building Societies

à Retail Banks: They render numerous services for private customers and have extensive branch networks in the UK. They participate dnectly in the UK clearing system.

à Discount Houses: They are mostly engaged in discounting bills of exchange for the corporate sector.

à British Merchant Banks: These are wholesale banks handling big money for private and corporate customers. They are engaged in mergers, take-overs and acquisitions. They also provide consulting services.

à Other British Banks: Comprise all other UK registered banking institutions and certain banks in the Channel Islands and the Isle of Man. They are controlled by UK companies or individuals.

à American Banks: Comprise the branches and subsidiaries of US banks.

à Japanese Banks: Comprise the branches and subsisdiaries of banks based in Japan.

à Overseas Banks: Comprise the branches and subsidiaries of non- American or non- Japanese banks and Consortium banks. These are jointly owned by other financial institutions, one of which must be based overseas.

à Building Societies: In the past they mostly extended mortgage loans, but nowadays they also widely practice taking in deposits and they practically operate as banks.

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