Business and Finance — Level 1.

Russia plans to sell off a further 15% of Lukoil. No details were disclosed, but some brokers predicted the cash-strapped government could make the shares available to international investors.

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Germany and France reported sluggish growth for the first quarter, with GDP rising only 1.4% and 1% respectively. Economists said weak retail sales in both countries are a troubling sign.

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GM is speeding up its long-running, multibillion-dollar overhaul and consolidation of the vast GM auto dealership network, according to GM marketing executives.

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SGL Carbon Ltd. shares plunged more than 10% in late electronic trading in Frankfurt on market speculation that a unit of the company in the U.S. is facing a legal battle (due to appear in court) over alleged price fixing.

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A Swiss bank said it had found no trace of Jewish assets dating from World War II and its aftermath. Pictet & Cie, Switzerland's leading private bank, is among the first Swiss banks to be investigated by auditors hunting the assets. Former U.S. Fed1^[9] Chairman Paul Volcker's commission, the Independent Committee of Eminent Persons, is overseeing the audit.

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J&J company swapped certain health-care brands with Pharmacia & Upjohn, expanding its global pain-relief business, and giving Pharmacia established names in growing areas.

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Boots Drugstores will pay shareholders a $653.3 million special dividend. The U.K. retailer reported that full-year pre-tax profit was at the top end of analysts’ expectations.

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Donna Karan's board is looking to hire an outside executive to run the U.S. fashion company's day-to-day operations. The search comes at a time when the firm is struggling with high costs.

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Paint-makers agreed not to fix paint prices in the U.K. The nine companies had been accused of fixing prices in Britain between 1985 and 1993.

Russia Promotes Arms Sales to Ethiopians.

The head of a Russian military delegation said on Saturday Russia was offering Africa sophisticated armaments including upgrade MiG-21 warplanes at reduced prices.

Vladimir Novikov told reporters Russia saw Africa as a continent with huge potential for the Russian arms market.

"Russia possesses effective, simple and reliable armaments including heavily upgraded MiG-21-93s it could offer to the world," said Novikov, adding East African countries including Ethiopia had about 200 Russian-made MiG-21 combat planes.

He said the delegation including plane and tank experts had met Ethiopian military officers, apparently to discuss how to maintain and renovate the country's vast amount of Soviet-made military hardware.

IMF, Latvia to Sign New Accord.

The IMF said that it has a few problems in renewing a standby arrangement with Latvia although it would like to see some more progress in structural reforms.

An IMF mission arrived in Latvia on Wednesday to renegotiate the standby.

IMF Latvia and Estonia representative D. Demekas said that the negotiations would focus on structural reforms such as tax administration, civil service reform and privatisation.

But he said the fund was satisfied with Latvia's macroeconomic performance. "Based on their record so far, it should not be difficult to reach agreement," Demekas said.

The mission is to hold talks with Finance Minister Zile and officials from the economy, welfare and agricultural ministries as well as the privatization agency and state-owned utilities Latvian Gas and Latvenergo.

Комментарии cash-strapped (starved) government = in need of money (funds); sluggish growth = slow (вялый);

retail sales — ant. wholesale (cp. retailer, wholesaler);

overhaul = restructuring;

assets — активы;

auditor — аудитор;

to oversee the audit = to control;

sophisticated armaments = upgraded, modern;

to maintain and renovate = to keep in order and modernize;

standby arrangement = зд. standby credit/loan (резервный кредит);

civil service — органы управления государством;

civil servant — госслужащий;

performance = record — зд. показатель;

welfare = social sphere;

utilities = companies that supply electricity, water, gas, heating, etc.

Дата добавления: 2015-08-21