Vocabulary

fellowship – оплаченная (фон­дом) стажировка; стипендия с целью прохождения стажировки

graduate – выпускной, выпу­скник

aid – помогать

fellow – человек, парень, това­рищ, собрат, член научного общества

turn out – оказываться

pick up – забирать

application form – бланк заяв­ления

applicant – претендент

fall – осень (амер.)

announce – объявлять

award – вручать, награждать

fluent English – свободно вла­деющий английским языком

distribute – распространять, распределять

purpose – цель

support – поддерживать

intelligent – зд.: интеллекту­альный

executive – исполнительный

council – совет

board – совет

collaboration – сотрудничество

administer – распоряжаться

research – исследование

benefit – выгода, польза

training – обучение

assume – полагать

emerge – возникать, появлять­ся

submit – зд.: подвергнуться, пройти

test scores – результаты тестов (в очках)

recruiting – набор

academic excellence – академи­ческая успеваемость (высокая)

be responsible for – отвечать за, быть ответственным за

competition – состязание, конкуренция

existence – существование

individuals – отдельные, ча­стные лица

affected – затрагиваемый, относящийся к

mutual – взаимный

selection – отбор

announce – объявлять

ambassador – посол

stress – подчеркивать

involve – включать, вовле­кать, задействовать

run the program – вести, осуществлять программу

obtain – получать, достигать, добиваться;

in person – лично

request – запросить

lead (to) – привести (к)

degree – зд.: ученая степень

internship – стажировка

recipient – получатель

term – срок, период

avoid – избегать

brain drain – утечка мозгов

(sub-)division – подразделение, отдел

under which – согласно ко­торому

restriction – ограничение

overcome – преодолевать

concern – забота, беспокойство

contribute – вкладывать

designed – предназначен­ный (для)

support – поддерживать

require – требовать(-ся)

augment – увеличиваться

enhance – увеличивать, повы­шать, усиливать

authorize – зд.: выделять, предназначать

Word Study

Ex 9. Match the phrases with their Russian equivalents:

field of study	на основании результатов тестов
the legislation’s purpose	исполнительный директор
executive director	нарождающийся частный сектор
council for collaboration	бланк заявки/заявления
visa restrictions	свободно владеющий английским
policymaker	сфера исследования
national government	все затрагиваемые дисциплины (науки)
emerging private sector	визовые ограничения
research and exchanges board	совет по сотрудничеству
on the basis of test scores	госслужащие, консультирующие студентов
academic excellence	набор на местах
on-site recruiting	основанный на заслугах
all the affected disciplines	цель данного закона
merit-based	политик
student-counseling officers	правительство страны
application form	хорошая успеваемость
fluent in English	совет по научным обменам
to get in person	распространять по всему региону
to oversee the program	способствовать демократическому развитию
to be responsible for	поддержать программу
to administer the program	отвечать за
to support the democratic development	руководить программой
to award fellowships	наблюдать за программой
to distribute across the region	получать лично
to back the program	вручать стипендии

Ex 10. Translate the following words and phrases from the text and use them, in the translation below.

To stimulate contacts among the individuals; in the affected disci­plines; to stress; mutual understanding; U.S. Ambassador; to be select­ed in a free and open competition; winner; two-year courses leading to a degree; to award fellowships; requirement; participant; to use the received knowledge in practice; former; competition winners; appli­cation form; to be available; to have an internship; campus; as B. Franklin Fellows; next fall; applicant; to complete; for graduate study in economics; to back; to aid; to support; to distribute across the region; democratic development; policy makers; to take positions; in local and national governments; fluent English; academic excellence; to promote; personal interview.

Comprehension Check

Ex 11. Answer the following questions.

1. What is a fellowship? 2. How many fellowships will be awarded to the applicants? 3. What countries will be represented in the competition? 4. What are the four spheres to be supported? 5. What are the requirements to the applicants? 6. Due to what / who the program was made possible? 7. What is the purpose of the Foreign Relations Authorization Act? 8. What organizations will administer the program? 9. What positions will the trainees take when returning back home after the internships? 10. What will the program stimulate/promote? 11. What did the U.S. Ambassador stress when announcing this pro­gram? 12. Where are student-counseling offices opened? Whatis their mis­sion? 13. What kind of visas will be given to the fellowship recipients? 14. In the whole, what is the program designed for? 15. How much money is allocated for fulfilling the program? 16. What is the length of the program?

Speaking

Ex 12. Fellowship – what does it mean?

a) sources of financing; b) mission; c) 4 spheres of study; d) length of internships;

Ex 13. Selection of applicants; requirements to them; their positions in future; expected results of the internships.

Lesson 9.2.3. Corporate Alliances and Acquisitions

Key vocabulary

Ex 1. As business and the world economy become increasingly competitive, more and more companies have to strengthen their operations to remain profitable. Companies can go about this in a number of ways, including the following.

Joint venture: Two or more companies agree to collaborate and jointly invest in a separate business project. This type of deal allows the partners to combine their strengths in one specific area.

Merger: Two companies, often in the same industry, come together to form one company. Companies merge for many reasons, for example, to increase market share and cut costs in certain areas, such as research and development.

Acquisition or takeover: One company accumulates enough of another company's shares to take over control and ownership.

Lead-in

Ex 2. Read the following extracts from the financial press. In pairs, decide whether each one refers to (a) a joint venture, (b) a merger or (c) an acquisition.

1) Wail Disney Co., Hearst Corp and Peterson Publishing Co. are discussing a deal that would combine their considerable influence in the publishing world to launch a weekly magazine to compete with ‘Sports Illustrated” next year.

2) General Motors is to start building its Chevrolet Blazer, a sports utility vehicle, in the factories of Elabuga Avtomobilny Zavod (EIAZ) in Tartarstan, an autonomous part of Russia. This business project will be owned by EIAZ and GM, which plans to invest as much as $250 m in the plant.

3) Poland may call off talks on the sale of newsstand chain Ruch to France’s Hachette distribution service if it fails to make a firm financial offer soon.

4) Bank Inicjatyw Gospodanczych (BIG) and Gdanski are planning to work together on a new deal. They will form one new bigger and stronger bank and together they will control 4% of Polish banking assets.

5) Just as Daewoo Electronics chairman Bae Soon-Hun thought he had agreed a deal to buy Thomson Multimedia, the consumer electronics arm of Thomson, he heard that it had his offer.

Reading

Ex 3. Read the text about failed mergers, which uses the Volvo-Renault deal as an example, and see if it mentions any of your suggestions from Lead-in.

Ex 4. While reading pay attention to the marked word and word combinations given after the text.