Industrial unrest — трудовой конфликт в промышленности

working conditions — условия труда

bonus payment — премиальные выплаты

bonus — премия

productivity — производительность труда

notice - уведомление

a week's (month's) notice - уведомление за неделю (за месяц) вперед

to work one mouth's notice - отработать месячный срок до увольнения после подачи уведомления

to retire (lo go into retirement) - выйти на пенсию

The people who ran a company are known as the management. The management is made up of individual managers. The managers are usually appointed to their posts (or positions) by the board of directors. The board is the collective name for directors. If a manager is appointed to a higher position/post in the firm, he is promoted (he is given promotion). When someone is promoted he usually receives a pay rise. The men who actually produce the goods in the assembly plant (or factory) are known as the workers (or labour force). The men working on the shop floor in the factory operate the machinery (or equipment). Workers who have specialized skills or who are trained to operate sophisticated equipment are called skilled workers. If the company needs to increase its labour force, it tries to recruit new workers to work on the shop floor. They might undertake a recruitment programme and they will hire workers who apply for jobs. The workers are normally paid wages for working a certain number of hours each week. Wages are paid weekly (a manager's salary is normally paid monthly). If a worker works more than his required number of hours, he works overtime, and he is paid at overtime rates which are higher than the normal rate(s) of pay. Some factories operate, a shift system. The men work 8-hour shifts throughout the 24 hours so that the assembly plant operates all the time. Most of the workers belong to a trade union. The union represents the men and negotiates (enters into negotiations) with the management on their behalf. If there is a labour problem or industrial unrest, the union shop steward might enter into negotiations with the management on behalf of the men. Industrial unrest is frequently about pay or working conditions. The union might negotiate a pay rise or a bonus payment for increased productivity, for example. Firms often also give a bonus at Christmas. If someone wants to leave his job he must give notice. Workers normally give at least a week's notice Managers usually work one or three months' notice. If someone leaves work for good because he is old, he retires. Someone who retires (goes into retirement) after working for a firm for a long time is normally given a pension. This pension is a regular payment for him to live on in his retirement.

International Trade and Exchange

Международная торговля и валютный обмен

currency — валюта

balance of trade (trade balance) — торговый баланс

balance of payments — платежный баланс

to trade — торговать

investment — капиталовложение

invisible imports/exports — "невидимый" импорт/экспорт

amount — количество, объем

favourable — (here) положительный

unfavourable — (here) отрицательный

balance of payments surplus — активное сальдо баланса, активный платежный баланс

balance of payments deficit — дефицит платежного баланса

foreign exchange market — валютный рынок

exchange rale (rate of exchange) — обменный курс

tо affect – затрагивать, сказываться

forward exchange cover - заблаговременное страхование от колебаний валютного курса

forward - заблаговременно, заранее

When a country imports goods, it spends its currency abroad. When a country exports goods, it is paid in foreign currency. The difference between the money a country earns for goods and the amount it spends on goods is called its balance of trade (or trade balance). Countries also trade abroad in things like insurance, tourism, foreign investment etc. which are known as invisible imports and exports. When a country receives money from abroad for things other than goods, the transaction is called an invisible export. When a country spends money abroad on things other than goods, the transaction is called an invisible import. The difference between the total amount of money a country spends and the total amount it earns is its balance of payments.

If a country earns more than it spends, it has a favourable balance of payments. A favourable balance of payments is also called a balance of payments surplus. If a country spends more than it earns it has an unfavourable balance of payments. This is also called a balance of payments deficit.

In order for international trade to take place, countries have to buy and sell foreign currencies / currency. This is done on the foreign exchange market. The value of a currency on the foreign exchange market changes frequently and the price at which money can be exchanged at a particular time is called the exchange rate (or rate of exchange). The changes in the exchange rate are influenced by many political and economic factors. The value of a currency will probably fall, for example, if a country has a large trade balance deficit.

The exchange rate can affect the price of exported goods. If the value of the exporter's currency falls (or takes a fall) lie will make more profit. On the other hand, if the value of the foreign currency takes a fall, the exporter may have to raise his prices abroad in order to make a profit. Alternatively the exporter can take out forward exchange cover. Forward exchange cover is a form of insurance. The exporter arranges to sell forward (e.g. in three months time) at an agreed rate of exchange the foreign currency he will receive from the sale of goods. This guards the exporter against losing money if the foreign currency fails in value.

Company Formation

Структура компании

capital —капитал

to borrow — занять, взять в долг

loan —ссуда

overdraft — овердрафт, превышение кредита

security (collateral) — залог, гарантия

sob proprietor — единоличный владелец

liable — обязанный, ответственный

debt —долг

creditor —кредитор

to invest — вкладывать (средства)

partnership — товарищество, компания

investor (backer) — вкладчик

partner —партнер

owner —владелец

liability —ответственность

limited/unlimited liability — ограниченная/неограниченная ответственность

sleeping partner - пассивный партнер

limited company — компания с ограниченной ответственностью

investment — вклад, инвестиция

share — акция

stake (holding) — доля

majority shareholder — держатель большинства акций

majority (controlling) interest — контрольный пакет акций

loan capital — заемный капитал

share (equity) capital — акционерный (собственный) капитал

ratio —соотношение

The money needed to start a business is called capital. If a person does not have enough capital he may borrow some from the bank in the form of a loan or an overdraft. Before the bank will give a loan he must put: up some security (such as his house) in case he cannot pay back the money. Security is also called collateral. If a business owned by one man (a sole proprietor) runs into trouble, the owner is liable to pay all the debts to his creditors, even if he has lo sell his private possessions. A sole proprietor is personally liable to his creditors.

Sometimes two or more people own and run a business. This is called a partnership. People who invest money in a business are called investors or backers. The backers in a partnership are all partners and owners. Usually all the partners have personal unlimited liability for debts to creditors. A partner who invests money in a partnership but who does not run the business is called a sleeping p partner. Sometimes a sleeping partner can have limited liability (his liability is limited to die amount of money he invests).

All the investors in a limited company have limited liability. Investment in a limited company is in the form of shares. Everyone who buys shares in the company is a shareholder. The liability of each shareholder is limited to the amount of his investment. If a person has investment in a company, he is said to have a stake or holding in the company. If he holds 20% of the shares, he has a 20% stake. If a shareholder has more than a 50% holding, he is a majority shareholder and he has a majority or controlling interest in the company.

Capital which is borrowed is called loan capital. Capital obtained from investors/investment is called share capital or equity capital. The ratio between the loan capital and the equity capital determines whether a company has a high gearing or a low gearing. A company which is highly geared has a high proportion of loan capital. Л company which is low geared has proportionately more equity capita'.

Trade Restrictions

Торговые ограничения

to impose — ввести

restrictions (controls) — ограничения, меры регулирования