We use the Past Simple:
*for events or actions in the past: In her youth she worked hard at English.
*for events that happened one after another: I finished my translation and sat down to watch TV.
We use the Past Continuous:
*for actions in progress in the past: I was doing the translation all afternoon.
*for action that was in progress when another action happened (The second action is in the Past Simple): When we came she was interviewing a new secretary.
*for actions in progress at the same time in the past: The strong wind was blowing and it was raining heavily.
Ex.1. Choose the correct variant:
1 He became/was becoming a very rich man when he was just 25. 2 The weather was terrible, it rained/was raining the whole day. 3 While Maria was writing the report, Henry looked/was looking for more information. 4 At 7 o'clock this morning she studied/was studying. 5 The student was reading a magazine while the professor spoke/was speaking. 6 Henry ate/was eating a snack at midnight last night. 7 It snowed/was snowing heavily when he was waking up/woke up. 8 He often borrowed/was borrowing from me when we were students. 9 When he was young he was going/went swimming every Sunday. 10 When I was shopping in Richmond Street I saw/was seeing a car accident. 11 I talked/was talking to my boss when you rang. 12 Last year they were dividing/divided their business into two.
Ex.2. Complete these sentences using the correct form of the verbs in brackets:
1 While my brother (study) for his exam, I (translate) a newspaper article into Ukrainian. 2 Tom (write) a letter to his family when his pencil (break). 3 When I (clean) the house, I (find) some old letters. 4 The doorbell (ring) while I (have) a bath. 5 They (build) a new bank when I (be) there last year. 6 My friend (own) this company but the state (buy) it and (bring) into public sector. 7 I (phone) my parents when the door bell (ring). 8 We (not hear) the phone because we (sing). 9 During his visit to Switzerland he (go) skiing every weekend. 10 While he (watch) TV he (hear) a loud cry for help.
Ex.3. Correct the mistakes where necessary:
1 As a child I never was staying up later than ten o'clock. 2 He was probably working in the office when we rang. 3 She talked to someone on the phone when I came. 4 I tried to learn the rule while someone outside played the guitar. 5 French hypermarket companies were beginning their operations in the Spanish retail sector. 6 Public sector pay was rising by only 3 per cent last year. 7 Analysts predicted continued growth in the service sector last month. 8 Many people in the private sector were having to take very low pay increase last year. 9 With a degree in business studies, she was hoping to find work in a multinational corporation. 10 In an effort to improve its image, the company launched a new public relations campaign.
Ex.4. Translate into English:
1 , . 2 £ 2 . 3 ³ . 4 . 5 ³ . 6 . 7 볺, . 8 .
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Ownership
| join purpose unlimited liability company limited liability company be liable (for) debt assets sole trader/proprietorship (general) partnership | ', () ; ' , | private limited company (BrE) / limited liability company (AmE) public limited company (BrE) / listed company (AmE) shareholder share wealth offer (v) public stock exchange |
A business is an organization of material, human, financial, and information resources that are joined together for a specific purpose. Not all businesses are owned and organized in the same way.
In unlimited liability companies the owners are personally and entirely liable for the debts of the company. This means they may lose their personal assets (e.g., their house or their car) if the company is in financial difficulties.
In a limited liability company (Ltd.) the owners are liable only for the amount of money they have invested in the business.
Unlimited liability companies are subdivided into sole traders (BrE) / sole proprietorship (AmE) (a type of business organization owned and run by one person) and partnership (BrE) / general partnership (AmE) (a firm run by two or more partners).
Limited liability companies are subdivided into private limited companies (BrE) / limited liability companies (AmE) and public limited companies (BrE) / listed companies (AmE). A private limited company/limited liability company is a company which has shareholders (people who own the wealth of a company) but which cannot offer its shares to the public.
A public-limited company / listed company is a company whose shares can be bought and sold on the stock exchange. A public limited company is privately owned. It is not run by the state.
1 Are all businesses owned and organized in the same way? 2 What is the simplest form of business ownership? 3 What are the owners liable for in unlimited liability companies? 4 What are the owners liable for in a limited liability company? 6 What is a partnership? 7 What are limited liability companies subdivided into? 8 What is a private limited company? 9 What is a public limited company? 10 Is a public limited company privately or state-owned?
1 Match words that have a similar meaning:
| join purpose sole trader public limited company offer organize personal share |
| sole proprietorship listed company propose aim unite stock arrange individual |
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| 2 The words in the box frequently occur after "debt". Find combinations that mean:1) a person employed to recover money owed by a person or an organization; 2) paying loans back to the lender; 3) renegotiating the form of debts; 4) renegotiating the dates that debts are to be repaid; 5) the overall amount of an organization's debt; 6) a period when a debtor is having trouble repaying their debts. | 
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| 3 Match the words and phrases in the box with the correct definition: 1) a firm run by two or more partners; 2) a business owned by one person; 3) a company in which the owners are entirely liable for the debts of the company; 4) a company in which the owners are liable only for the amount of money they have invested in the business; 5) a company that may not offer its shares for sale to the public; 6) a company whose shares can be bought and sold on the stock exchange; 7) money owed by one | 
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one person or an organization to another; 8) an item of value belonging to a person or a company; 9) one of many portions into which a company's capital is divided; 10) a market where stocks and shares are bought and sold under fixed rules; 11) a person who owns shares in a company and is, therefore, a member of the company; 12) (owning) a large amount of money, goods or property.
4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:
| Stock exchange, wealth, purpose, shareholders, sole trader, partners, shares, assets, debts, partnership, sole proprietorship. |
1 The person operating a......owns the business in his or her own name. 2 Formed by two or more persons, the... is considered a business entity. Each partner is responsible for the.... 3 All personal... of each partner are at risk if the business fails. 4... receive dividends in proportion to the capital they invest. 5 Being a......she works long hours in her hairdressing business. 6 The partnership collapsed as a result of the criminal activities of one of the.... 7 He has... in British Gas. 8 He is a man of great.... 9 The... of going to school is to learn. 10 He works as a computer operator at the New York.......
Grammar: Present Perfect (1)
| have / has + Past Participle (V3 / Ved) |
| + | I have read this book twice. | . |
| - | She hasnt done her homework. | . |
| ? | Have you ever been to Egypt? | - ? |
. 䳿, .
I ve met a lot of famous people. () .
Hes lived here all his life. ( , ) ³ .
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䳿 . , .
Have you ever been in a car crash? - ?
My mother has never flown in a plane. .
䳿 , .
We ve lived here for two years. ( ).
I ve had a car since I left school. , .
Ex.1. Divide the expressions in the box into those which talk about present and those which talk about past. Choose any two expressions from each list and write sentences about your own educational experience.
| last Monday, this year, for the last two hours, last September, when I was a child, in March, since January, at Christmas, last week, since I entered the college, lately, a week ago, this month, in the last few days |
Ex.2. Choose the correct variant:
1 He published/has published a new book twice already. 2 I never was/have been to Italy, but I have gone/went to England last May. 3 I sent /have sent them an e-mail this week. 4 Did you register/Have you registered your ticket yet? 5 The plane from Paris has landed/landed an hour ago. 6 How many schools did/have you studied in? 7 The shop never made/has made any money. 8 Did it stop/Has it stopped snowing yet? 9 He was/has been in his office since early morning. 10 Mary called/has called her employer yesterday. 11 I answered/have answered three letters so far. 12 She was/has been away on business since last Monday.
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Ex.3. Complete these sentences using the Past Simple or Present Perfect Simple:
1 People (begin) to watch TV about 50 years ago. 2 I am looking for Tom. You (see) him? I (see) him last week, but not today. 3 When I was a child, I never (eat) cheese. 4 He (organize) his sole proprietorship this year. 5 This morning I (take) a little walk. 6 We (be) to our main office since 7.30. 7 I (know) the owner of this company all my life. 8 The company (change) a lot lately. 9 It (not rain) here for weeks. 10 She (be) a regular investor in my business. 11 How long you (be) in your current job? 12 He (have) several jobs since he left our company.
Ex.4. Correct the mistakes where necessary:
1 Your fax has arrived three days ago. 2 I haven't been to the office since Sunday. 3 Has anyone seen my car keys? 4 Ive passed my driving test. 5 I already had four cups of coffee today, and it's only lunchtime! 6 Ive been to most countries of Africa but I never visited Congo. 7 Hes passed his exams last May. 8 He was
busy all this week. 9 Theres a lot of work to do recently. 10 Computers have become very important lately.
Ex.5. Translate into English:
1 . 2 2 . 3 . 4 . 5 , ? 6 ³ . 7 ? 8 . 9 . 10 . 11 . 12 .
Business Relationship
| subsidiary parent company holding company hold(v) stake | , , -; , 䳺 (), | sister company conglomerate joint venture separate legal entity consortium undertake (a project) carry out | , () , |
As businesses expand they may buy shares in other companies, or join with other companies for a particular purpose. There are different relationships these companies can have with one another.
A groupis a number of subsidiary companies operating under one leading company the parent company. A subsidiary is a company half or wholly owned by another company (the parent company).
A holding company is one that holds all, or more than half of, the stakes in one or more subsidiaries. It is the leading company in a group.A holding company's relationship to its subsidiaries is that of parent company, and the subsidiaries' relationship to each other is that of sister companies.
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A conglomerate is a group consisting of a lot of different companies in different businesses run as one large company.
When two or more companies decide to work together, they form a joint venture. In such cases, the two companies involved remain separate legal entities.
A consortium is a group of companies which come together to undertake a project which any one of the members cannot carry out alone.
1 Describe the types of relationships that companies can have with one another. 2 What is a group? 3 Is a subsidiary owned by another company? 4 What is a holding company? 5 What is a conglomerate? 6 Under what circumstances is a joint venture formed? 7 Why do companies unite into a consortium?
1 Match words that have a similar meaning:
| consist stock separate carry out operate holding company hold decide remain |
| stay parent company different from make up one's mind share fulfil function be composed of own |
2 The words in the box frequently occur after "company". Find combinations that mean:
| 1) the leading company of a group that holds all or more than half of the shares of the other companies and usually controls other companies; 2) one of two or more organizations that are part of the same group; 3) a business formed by a group of people using money provided by them all; 4) a company of which at least half the share capital is owned by another company, called a parent or holding company; 5) a company whose shares are recorded on the | 
main market of a stock exchange;
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6) a company whose members are only responsible for its debts up to a limited amount; 7) a company that offers the same or better goods and services as another and therefore competes for the same customers.
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. | 
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| 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.
1 Choose the correct verb form:
1. Have you ever seen/did you ever see a rock concert? 2. I saw/have seen the Rolling Stones last year. 3. I love rock and roll I like/have liked it all my life. 4. The Stones' concert has been/was excellent. 5. have bought/bought all their records after the concert. 6. How long have you known/do you know Peter? 7. I know him/have known him since we were at school together. 8. When did you get/have you got married to him? 9. We have been/are together for over ten years, and we have got/got married eight years ago.
3 Make sentences about the following people:
1) Alice is a journalist. (meet/a lot of famous people; not be/on television) 2) Robert Swan is an explorer. (be/North Pole; see/polar bears; never/get lost) 3) Bill and Sophie are unemployed. (not have/a job for six months; not have/a holiday since Christmas; not be/the cinema for a year) 4) Sue is a tennis player. (play/since she was six; not win/a senior competition; never play/at Wimbledon)
4 Answer the questions about you. Use short answers. Have you ever ...
...been to Mexico / tried Chinese food / forgotten to do the homework / made your teacher angry with you?
5 Put for or since into each gap. Translate the sentences into Ukrainian:
a) I haven't seen Keith_____a while. b) He's been in China_____January. c) Jack works for KMP. He has worked for them_____several years. d) He and his wife have lived next to me_____their son, Denny, was born. e) have known them_____many years. f) Weve been friends_____we were at university together. g) His wife, Carrie, is a designer. She has had her own studio_____six months. h) Im looking after Tom today. He's been at my house _____8.00 this morning.
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6 Ask these people questions about their experiences:
1 a racing driver - have an accident? 2 an explorer - get lost? 3 an actress - forget your words? 4 a mountaineer - climb Mount Everest? 5 a window cleaner - fall off your ladder? 6 a pop singer - have a number one song? 7 an electrician - have an electric shock?
7 Open the brackets. Translate the sentences into Ukrainian:
1 Sorry Im late I (miss) the bus. 2 We (live) here all our lives. 3 What they (tell) you? 4 She (have) a headache since morning. 5 You (ask) her yet? 6 I (not know) her very long. 7 He (be) a singer since childhood. 8 She (not do) her homework again! 9 Anybody (see) Jane this morning? 10 I (be) to France and Italy but I never (be) to Greece. 11 You (have) your breakfast yet?
Companies Restructuring
| restructure market profitable combine merge (v) merger controlling share acquire / make an acquisition take over | ' , ' , ' , () | hostile takeover willingly make a bid (for smth) buyout divest of / pull out abandon efficient | ( ) ; , |
In the world of business we can often see changes to the structure of companies and groups of companies. As a rule companies join with or buy other companies in order to have better control of a particular market, to diversify their business, to strengthen their operations or to remain profitable. When two companies combine, they merge to form one company in an agreement known as a merger.
To buy another company or to win a controlling share of a company is to acquire a business, make an acquisition or take over a company. There are two types of takeover: a hostile takeover is a situation in which a company is bought out when the owners do not want to sell. A friendly takeovertakes place when a company is willingly bought out. When someone wants to buy a company they have to make a bid for it, i.e. offer to buy it at a certain price.
A buyout is a situation in which a person or group gains control of a company or a particular part of it by buying all or most of its shares.
If a company sells a business, it divests itself of that business. If you pull out of a business activity, you abandon it, perhaps as part of a programme of restructuring: reorganizing a business in order to make it more efficient and profitable.
1 Why do companies join with or buy other companies? 2 What happens when companies combine? 3 What does "making an acquisition" mean? 4 What types of takeover exist in business? 5 What is the difference between a hostile and a friendly takeover? 6 What do you have to do when you want to buy a company? 7 What is a buyout? 8 Why do businessmen restructure their business?
1 Match words that have a similar meaning:
| see buy aim staff make an acquisition enter new types of businesses win share hostile takeover bid pull out |
| stop participating acquire observe purchase purpose gain stock diversify offer to sell something at a certain price unfriendly takeover personnel |
| 2 The words in the box frequently occur before "market". Find combinations that mean: 1) the illegal economy, not approved by a government; 2) the situation of buying and selling goods for personal use, not for resale; 3) a place where raw materials and some manufactured goods are bought and sold; 4) any market where there is a lot of buying and selling; 5) a place where deals are made relating to the long-term investment needed by businesses; 6) a market where certain securities are plentiful and prices are low because there are few buyers; 7) a market where foreign currencies are traded; 8) a market where conditions are good for the buyer; 9) a market where conditions are good for the seller; 10) a financial market at which the value of stocks and bonds goes down; 11) a situation in a financial market where prices are rising and lots of shareholders are buying. | 
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| 3 Match the words and phrases in the box with the correct definition: 1) a business or part of a business taken over or bought by another company; 2) a person who saw something and can tell about it;3) the buying of one company or most of the shares in it, by a person or another company; 4) (in business) combining two companiesinto one larger company; 5) an offer to sell something at a certain price;6) the amount of money for which something can be bought or sold; 7) the purchase of a controlling interest in business; 8) the workers or employees of an organization 9) a situation where a person or an organization owns enough shares (usually more than 50%) in a company to say how it should be run. | 
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4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:
| the market, to merge, the merger, acquisition, a takeover, a bid, price, a purchase, a staff, profitable, abandoned |
1 This deal should be highly.... 2 We have... of twenty. 3 Choose carefully before making.... 4 We can't afford to buy the computer at that.... 5 Our company made... to sell coffee beans at $ 10 per pound. 6 The family will never sell more than 49 per cent of the shares; they don't want any possibility of.... 7 The software company's... of Acme Company will help it compete in the hardware market. 8 The directors of both companies met to discuss the terms of.... 9 The two insurance companies have agreed.... 10 We... the project because it was too expensive. 11... determines what goods are made.
