3 Match the words and phrases in the box with the correct definition:

1) a connection between ideas, people or things;2) the leading company in a group;3) a holding company together with any subsidiary companies in which it owns more than half of the share capital; 4) a business activity in which two or more people or organizations work together; 5) a sum of money invested in a

business; 6) a number of companies, sometimes involved with different products, joined together and run as one large company;7) a temporary association of two or more companies for a major project that is too complex for any of them to do alone; 8) allowed or required by law.

4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:

Undertake, remained, holds, relationship, joint venture, sister, stake, holding, subsidiary (2), conglomerate, separate

1 One of the oldest breweries has now joined an international ... of drinks manufacturers.2 There are now five ... companies in the group. Each ... company trades under its own name.3 The businessman formed a ... company to control all his assets.4 They have a 25% ... in the business.5 Our ... company may share some of the advertising costs with US.6 An American and a German auto maker agreed to form a......to buildtrucks.7 Those two companies have a close working.... 8 She ... stocks of 12 companies.9 This product has ... popular for many years.10 The company will... the building of a large warehouse.11 The cost of making the product and the cost of selling it are two ... issues.

5 Fill in the missing prepositions: (into, for (2), of (4), with, in (7), by (2), because of)

1 The group's shares fell ...10 %...a fall in the home market.2 Our parent company has its HQ ... Finland.3 Nestle Corporation, ... its many branches and subsidiaries, is one ... the world's largest food manufacturers. 4 Multinational corporations now operate ... every sector ... industry.5 Philip Morris is a holding company which owns several major American companies ... the tobacco and food industries. 6 Warner Bros is an entertainment conglomerate that produces television programmes ... broadcasting all over the world. 7 Japanese and US firms ... the textile industry continue to enter ... joint ventures ... India. 8 The hotel was finally rescued ... a consortium ... local business owners.9 I work ... a construction company which has a lot ... contracts ... other countries.10 The partners ... a joined venture agree to control and manage the business together.

GRAMMAR: Present Perfect Simple (2)

have / has + V3 (Ved)

We use the Present Perfect Simple:

*for the action or situation which is finished: We have painted the whole house.

*for recent actions or events in the past that have a result in the present: You have broken the window!

*for actions or situations that began in the past and continue in the present: Windsor Castle has been a royal residence since the 11th century.

Time expressions: for, since, just, already, yet, this morning (week), recently, lately, never, ever.