GLOSSARY - UNIT 6 MONEY

Starting up
pessimist noun /ˈpesɪmɪst/ someone who feels that bad things are more likely to happen than good things:
In the coming months pessimists will say that stocks are not a good buy.

Compare
optimist

pessimistic adjective

bank statement noun a record of the money put into and taken out of a bank account:
You can read your bank statements online.

credit card noun a small plastic card that can be used to buy goods or services and then pay for them at
a later time:
Online merchants rely on electronic payments, and it would hurt their businesses if they did
not accept credit cards.

beggar noun a poor person who lives by asking others

for money or food
beggar verb /ˈbeɡ.ər/ to make a person or organization, etc. extremely poor
charity noun /ˈtʃærɪti/ plural charities: an organization that has
the purpose of providing money or help to people who need it, or that does something useful for society:
As a charity, the organization does not pay tax.

in credit: if a person or their bank account is in credit, there is money in the account:
As long as you stay in credit, there will be no charges for normal transactions on your account.

into the red: into a situation where you are losing money after making a profit:
Many technology firms have fallen deep into the red after a collapse in revenues from
the telecoms industry.

overdraft noun /ˈəʊvədrɑːft/ (also bank overdraft) an amount of money that a customer with
a bank account is temporarily allowed to owe to the bank, or the agreement which allows this:
Research shows that 58% of students have an overdraft.

interest noun /ˈɪntrəst/ [ U ] money that is charged by a bank or

other financial organization for lending money:

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 The interest on a mortgage is higher than the interest earned on savings.

practice noun /ˈpræktɪs/ the way of doing things in a particular business, industry, etc.:
The insurance firm has issued a warning report to its members, highlighting breaches of best pra
ctice.

crime noun /kraɪm/ + illegal activities:

Unemployment is associated with a rising crime rate.

moral adjective /ˈmɔr·əl, ˈmɑr-/ (RIGHT) relating to standards of good behavior, honesty, and fair dealing,
or showing high standards of this type:
It’s her moral obligation to tell the police what she knows.

owe verb /əʊ/ to need to pay or give something to someone because they have lent money to you:
How much do we owe the bank?

remind verb /rɪˈmɑɪnd/ to make someone aware of something forgotten or possibly forgotten, or
to bring back a memory to someone:
Remind him to call me.

wallet noun /ˈwɒl.ɪt/ a small folding case for carrying paper money, credit cards and other flat objects, that
can be carried in a pocket and is used especially by men:
He pulled out a big, fat wallet stuffed with banknotes.

Synonym: billfold US / (UK purse)

+ a small container for carrying coins, paper money, and credit cards, used especially by women

+ a flat, folding bag that is used for holding documents, for example passports
VOCABULARY

equity stake noun the part of a company that a person or organization owns, represented by
the number of shares they have:
Investors provide capital in exchange for equity stakes.

recession noun /rɪˈseʃən/

a period, usually at least six months, of low economic activity, when investments lose value, businesses fail,
and unemployment rises:

The economy has entered a deep recession.

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share noun /ʃeər/ [ C, usually singular ] + one of the parts that results when something
is divided between several people, groups, etc., or a number representing that part:
The total bill comes to €80, so our share is €20.

+ one of the units that the ownership of a company, fund, etc. is divided into and which can
be bought by members of the public:
The value of my shares has fallen by 8%.

debt noun /det/ + the amount of money that is owed by a person, company, country, etc. and that they
usually have to pay interest on:
Companies become insolvent because they cannot pay their debts.

stock market noun the activity of buying and selling shares in particular companies, and
the people and organizations involved in this:
It's not a good time to invest in the stock market.

forecast noun /ˈfɔːkɑːst/ a statement of what is judged likely to happen in

the future, based on information you have now:
The company hopes to meet its forecast of 4% growth this year.

profit margin noun + the difference between the total cost of making and selling something and the price it
is sold for, or between the total amount of money a company receives from sales and
the total cost of producing all its products and services. The profit margin is often expressed as a percentage:
Other mid-size businesses, especially those with low profit margins, have similar objections.

investment noun /ɪnˈvestmənt/ the act of putting money into a business to buy new stock, machines, etc., or
a sum of money that is invested in a business in this way:
We've made a significant investment in IT.

bankruptcy noun /ˈbæŋkrəptsi/ a situation in which a business or

a person becomes unable to pay their debts, and is officially bankrupt:
The country's largest automaker is rumored to be on the brink of bankruptcy.

Now he's $37,000 in debt and plans to file for bankruptcy.

dividend noun /ˈdɪvɪdend/ part of the profit of a company that is paid to shareholders:
You may have investment income that is paid yearly, such as share dividends.

pre-tax profit adjective /ˌpriːˈtæks/ profit before tax is paid:

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 They will spend more than 15% of their pre-tax income on health care costs.

turnover noun /ˈtɜːnˌəʊvər/ the amount of money that a company gets from sales during a particular period:
The business has an annual turnover of $350,000.

downturn noun /ˈdaʊntɜːn/ a reduction in the amount or success of something, such as a

country's economic activity:
Thousands of workers have lost their jobs in the economic downturn.

There is evidence of a downturn in the housing market.

heavy adjective /ˈhevi/ larger in number or amount than usual:

Those found to be violating the law could face heavy fines.

trading noun /ˈtreɪdɪŋ/ the business of buying and selling goods and services:
China has quickly become one of Africa's largest bilateral trading partners.

confidence noun /ˈkɒnfɪdəns/ + a feeling that you can trust someone or something to work well
or behave as you expect:
Leitch warns that the insurance industry must raise standards to win back the confidence
of investors.

+ a feeling that an economic situation will improve:

Business confidence has plunged and home sales have collapsed.

interim adjective /ˈɪntərɪm/ used to describe something that relates to only part of a
company's business year, rather than the whole year:
Directors were forecasting an interim loss of over $3 million.

disastrous adjective /dɪˈzæs·trəs/ + causing great harm, damage, or suffering:

It was a disastrous mistake which he lived to regret.

+ Something that is disastrous is a complete failure:

His attempt to play the piano was disastrous.

emerge verb /ɪˈmɜːdʒ/ to begin to exist or have power or influence:

The new Executive Director will be responsible for ensuring that the state emerges as a leader in
the field of next-generation energy.

shareholder noun /ˈʃeəˌhəʊldər/ a person or organization that owns shares in a company:

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 Shareholders will be voting on the proposed merger of the companies next week.

up adverb /ʌp/ if a level or amount is up, it has increased:

Last year the company's turnover was up 3% on the previous year.

LISTENING

return noun /rɪˈtɜːn/ the amount of profit made by an investment or a business activity:
The program guarantees lenders a return of 10% interest.

ongoing adjective /ˈɔnˌɡoʊ·ɪŋ, ˈɑn-/ continuing to exist, happen, or develop:

The investigation is ongoing.

spread noun /spred/ a number of different things or people:

If you do not need immediate access to your money, why not diversify into a wider spread
of investments?

class noun /klɑːs/ a group into which goods and services are put based on their characteristics:
Your shipment's freight class determines the carrier's shipping charges.

scale noun /skeɪl/ a set of numbers, amounts, etc. used to measure or compare the level of something:
How would you rate his work on a scale of 1 to 5?

potentially adverb /pəˈtenʃəli/ possibly:

The changes will potentially have a large impact on profits.

securities noun /sɪˈkjʊərətiz/ a financial investment such as a bond or share that is traded on
a financial market:
Investors who bought securities made up of subprime loans suffered the biggest losses.

interest noun /ˈɪntrəst/ money that is charged by a bank or other financial organization for lending money:
I paid back the whole sum with interest within a month.

+ money that you earn from keeping your money in an account in a bank or
other financial organization:

Consumers look for the best rate of interest on their savings.

index-linked adjective /ˌɪndeksˈlɪŋkt/ an index-linked investment or payment changes by the

same amount as the general level of prices, or in relation to another fixed standard:

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equities noun /ˈekwɪtiz/ shares in companies, especially ordinary shares, or
the activity of trading these shares:
Shares rose as investors moved out of bonds and into equities.

esoteric adjective /ˌes·əˈter·ɪk/ intended for or understood by only a few people who
have special knowledge:
Literary readings can sometimes seem esoteric, but we are trying to make them more attractive to
more people.

brick-and-mortar adjective used to describe a traditional business that operates in a building,

when compared to one that operates over the internet:
Online retailers try to lure customers away from their brick-and-mortar competitors.

platinum noun /ˈplætɪnəm/ a very valuable silver-grey metal that is used in industry and often traded on
the commodity market:
Platinum rose to $1,293.50 an ounce after hitting a record $1,298.50 during the day's trading.

hedge fund noun an investment fund that trades large amounts of shares, currencies, etc. to
take advantage of both rising and falling prices, for example by shorting (= borrowing shares,
etc., selling them, and buying them back at a lower price):
Managers of the first hedge funds invented ways to make money no matter which way
the stock market was moving.

incremental adjective /ˌɪnkrəˈmentəl/ happening gradually, in a series of small amounts:

We plan to make incremental improvements to our existing products.

CD1 Track 39

bond noun /bɒnd/ an amount of money that an organization or government borrows and promises to pay
back on an agreed date with an agreed amount of interest, or the document that contains this agreement:
The first new bond is a 10-year bond, paying a 6.5% interest rate and repayable on Oct. 25, 2021.
business cycle noun (also economic cycle); (also trade cycle) a period during which a
country's economy goes from growth to recession (= a time when business conditions are bad) and back
to growth:
The typical business cycle is three to five years.

recover verb /rɪˈkʌvər/ to improve after a difficult period or after falling in value:

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 Profits are expected to recover in the current financial year.

depression noun /dɪˈpreʃən/ a recession (= time of low economic activity, when investments lose value,
businesses fail and people lose their jobs) that lasts for a long period of time, usually several years:
The Wall Street Crash of 1929 brought severe economic depression and hardship to Canada.
aggressive adjective /əˈɡresɪv/ + done in a very forceful and competitive way
in order to gain an advantage:
Britain’s second largest water company is planning an
aggressive campaign to win industrial and business customers from rivals.

+ forceful, competitive, and determined to win or get what you want:

Many banks have become more aggressive in making loans to boost revenue growth.

perceive verb /pərˈsiv/to think of something in a particular way:

The way people perceive the real world is strongly influenced by the language they speak.

appetite noun /ˈæp·ɪˌtɑɪt/ a desire or need for something, esp. food:

SKILLS CD1 TRACK 40

brief noun /briːf/ If something is said in brief, it is said in a very short form, with very few details:

"So you didn't enjoy the party much." "In brief, no."
disappointing adjective /ˌdɪs·əˈpɔɪn·tɪŋ/ not as good as you had hoped or expected; not satisfactory:

Kerrigan finished the race a disappointing fifth.

FedEx noun trademark (also Fedex); (also Fed Ex) another name for the company Federal Express,
which delivers mail and goods:

The package was sent via FedEx.

fear noun /fɪər/ a strong emotion caused by great worry about something dangerous, painful,
or unknown that is happening or might happen:

The low sales continued, confirming our worst fears.

credit crunch noun also credit crisis, credit squeeze) economic conditions that make financial organizations
less willing to lend money, often causing serious economic problems:

Japan experienced a major credit crunch in the late nineties.

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FTSE = Financial Times and the London Stock Exchange

the FTSE 100 noun /ˌfʊt.si wʌnˌhʌn.drəd/ a number that expresses the value of the share prices of the 100
most important British companies, published by the Financial Times:

The FTSE 100 closed 31.6 points down at 2459.3 in today's trading.

FTSE 250 noun (also FTSE 250 Index); (also FTSE 250 Share Index) a series of numbers published by the
Financial Times newspaper that shows the changing average value of the share prices of 250 middle-sized
British companies on the London Stock Exchange, not including the companies that are in the FTSE 100:

The FTSE 250 finished 33 points higher at 6,913.2 - its highest closing this year.

blue chip adjective /ˈbluːtʃɪp/ relating to a large and successful company, whose shares are considered to be
a good investment:

blue-chip clients such as Rolls-Royce and Mercedes

gain noun /ɡeɪn/ an increase in size, weight, amount, etc.:

Having deducted costs we still made a net gain of five thousand pounds.

medical device /ˈmedɪkəl/ /dɪˈvaɪs/ an object or machine which has been invented for a particular purpose
of the treatment of illness or injury:

biotech and medical devices

upgrade verb /ʌpˈɡreɪd/ to improve something so that it works better or is more effective:

It's quite simple to upgrade the indexing software.

rumor noun /ˈru·mər/ an unofficial, interesting story or piece of news that might be true or invented, and
that is communicated quickly from person to person:

Rumors about her are circulating at school.

bid noun /bɪd/ an offer to buy something for a particular price:

It is believed the team are ready to make a bid for the player.

sweetener noun /ˈswi·tən·ər/ an artificial substance that tastes sweet:

Excessive use of any artificial sweetener is unwise.

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forecast noun /ˈfɔːkɑːst/ a statement of what is judged likely to happen in the future, especially in
connection with a particular situation, or the expected weather conditions:

He refused to give a forecast on when 365 is likely to make money for shareholders.

flood noun /flʌd/ (LARGE AMOUNT OF WATER) a large amount of water covering an area that is
usually dry:

Kingston was heavily damaged by a flood.

corn noun /kɔːrn/ (FOOD) + (the seeds of) plants, such as wheat, maize, oats, and barley, that can be used
to produce flour:

CASE STUDY

pitch noun (PERSUASION) + a speech or act that attempts to persuade someone to buy or do something:

The man in the shop gave me his (sales) pitch about quality and reliability.

entrepreneur noun /ˌɒntrəprəˈnɜːr/ someone who makes money by starting their own business, especially
when this involves seeing a new opportunity and taking risks:

an internet/e-commerce/dotcom entrepreneur

tycoon noun /taɪˈkuːn/ + a very successful business person who is rich and powerful

range noun (LIMIT) + the amount, number, or type of something between an upper and a lower limit:

The product is aimed at young people in the 18–25 age range.

convince verb /kənˈvɪns/ + to persuade someone or make someone certain:

He managed to convince the jury of his innocence.

CD1 TRACK 41

storage noun /ˈstɔːrɪdʒ/ the act of keeping things somewhere so that they can be used later, especially goods
or energy supplies:

There must be proper plans in place for the storage of nuclear waste.

modular adjective /ˈmɒdjʊlər/ + made of several parts that can be put together in different ways:

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 A modular system allows six different configurations of just two key components.

versatile adjective /ˈvɜr·sə·t̬əl/ (of people) able to do many different things or to adjust to new conditions, or
(of things) able to be used for many different purposes:

He was a versatile guitarist, and recorded with many leading rock bands.

versatility noun /ˌvɜr·səˈtɪl·ɪ·t̬i/

divide verb /dɪˈvaɪd/ (SEPARATE) + to (cause to) separate into parts or groups:

At the end of the lecture, I'd like all the students to divide into small discussion groups.

add verb /æd/ + to put two or more numbers or amounts together to get a total:

If you add (= calculate the total of) three and four you get seven.

shape verb /ʃeɪp/ + to make an object from a physical substance:

Early humans shaped tools out of stone.

stylish adjective /ˈstɑɪ·lɪʃ/ + having a special quality that makes a person or thing seem different
and attractive:

recyclable adjective /ˌriːˈsaɪkləbl/ recyclable materials or products can be used again after they have
been treated using a special industrial process:

return noun (EXCHANGE)

in return = in exchange
Some tenants get rent reductions in return for help managing the building.
I'll come with you, but you have to do something for me in return.
stake noun /steɪk/ + the amount that someone has invested in a company, often expressed as a percentage of
the total share capital (= money invested in a business in the form of shares):

His 22% stake makes him the retailer's biggest shareholder.

CD1 TRACK 42

patent noun /ˈpeɪtənt, ˈpætənt/ + the legal right to be the only person or company to make
or sell a product for a particular number of years, or a document that gives you this right:

apply for/file/take out a patent Filing a patent is a long and expensive process.

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protect verb /prəˈtekt/ + to keep someone or something safe from injury, damage, or loss:

They produce a self-adhesive plastic cover designed to protect CDs from scratches.

profit margin noun + the difference between the total cost of making and selling something and the price it
is sold for, or between the total amount of money a company receives from sales and
the total cost of producing all its products and services. The profit margin is often expressed as a percentage:

The company averages profit margins of 70%.

module noun /ˈmɒdjuːl/ one of a set of separate parts which, when combined, form a complete whole:

The emergency generator is transported in individual modules, which are then put together on site.

specialist adjective /ˈspeʃəlɪst/ having a lot of experience, knowledge, or skill in

a particular subject or business area:

It is always good to consult a specialist financial adviser.

sales potential noun /pəˈtenʃəl/ the possibility of developing items sold

These equity securities are believed to have the potential for high earnings growth.

package verb /ˈpæk·ɪdʒ/ to put something in a box or container, or to wrap things together, esp. to be sold:

The book and CD are packaged together.

expertise noun /ˌekspɜːˈtiːz/ a high level of knowledge or skill:

I've been in this job for thirty years, and I've picked up a good deal of expertise along the way.

force noun /fɔːs/ a group of people organized and trained for a particular purpose:
The company soon had a sales force distributed across Europe.

hands-on adjective /ˌhændzˈɒn/ directly involved in making decisions about the way in which things should
be done:

As a manager, she was always very hands-on.

track record noun all the past achievements or failures of a person or organization, considered together:

We are looking for people with an excellent track record in marketing.

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by all means = yes, certainly:

"Could I have a glass of water, please?" "By all means – I'll get it for you."

basically adverb /ˈbeɪ.sɪ.kəl.i/ + used when referring to the main or

most important characteristic or feature of something:

The village has remained basically unchanged for over 300 years.

Synonyms essentially, fundamentally

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