PERSONAL CENTRES BUSINESS VOCABULARY IN USE

 

BUSINESS VOCABULARY IN USE 36. PERSONAL CENTRES

 

A Financial centres Financial centres are places where there are many banks and other financial institutions. London as a financial centre is called the City or the Square Mile, and New York is Wall Street. Financial centres bring together investors and the businesses that need their investment. A speculator is an investor who wants to make a quick profit, rather than invest over a longer period of time. Brokers, dealers and traders buy and sell for investors and in some cases, for themselves of the organizations they work for. B Stock market Heather Macdonald of Advanced Components: ‘We need more capital to expand, so we decided to float the company (sell shares for the first time) in a flotation. Our shares were issued, and listed (BrE) or quoted (BrE only) for the first time on the stock market. Because we are a UK-based company, we are listed on the London stock exchange. C Other financial markets Other financial products include • commercial paper: short-term lending to businesses. • bonds: longer-term lending to businesses and the government. • currencies 9foreign exchange or forex): buying and selling the money of particular countries. • commodities: metals and farm products. D Derivatives A futures contract is an agreement giving an obligation to sell a fixed amount of a security or commodity at a particular price on a particular future date. EXERCISES 36.1 Correct the eight mistakes in italics in this article, using expressions from A opposite. Now that a lot of buying and selling can be done over computer networks, (1) breakers and (2) tradesmen do not need to be in one place, and (3) speculist can make money dealing from a computer in their living room. In new York, the area around (4) the South Bronx is traditionally home to many financial institutions, such as the New York Stock Exchange. But many of them have now moved some or all of their offices outside this expensive area. 36.2 Look at B opposite and say if these statements are true or false. 1. ‘Stocks’ is another name for shares. 2. ‘Stock market’ means the same as ‘stock exchange’. 3. Bourses are only found in France. 36.3 Use expressions from C and D opposite to describe: 1. a bank that makes companies’ shares available. 2. a contract to buy 500 tons of wheat for delivery in three months. 3. coffee and copper. 4. dollars, euros, and yen.

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