Grammar
1 Join the sentences using which, who or where. In one of the sentences you need to make a further small change.
1 Did you read the financial report? It was puhlished yesterday.
Did you read the Vnmicki! report whkh was published yesterday?...............................
2 We are writing with regard to invoice number 931. It remains unpaid.
3 Yesterday I spoke to your colleague. She told me to phone back today.
4 We are staying at a hotel on the Nile. Agatha Christie once stayed there.
5 I saw a man on the train. He looked just like your finance director.
2 The following is part of an article about Parker Brothers, a famous American manufacturer of games. Read the account of how they started up and write who or which in each gap.
PARKER BROTHERS
Parker Brothers is now :i subsidiary- of the toy giant Hasbro, but it is still a highly valued brand with a logo which is known throughout the world.
The company started up in the 1880s. George Parker was an enterprising teenager 1    who   lived in Salem, Massachusetts. He loved playing different board games with his brothers and friends and formed a special club where they could meet for this /iiupcw. Although there were a few board games at that time, most of them were designed to teach moral or religious values. George was not very interested in these,
so at the age of 16, he invented 'Banking', a game 2...................was about becoming
rich through investments. The members of the club enjoyed it so much that they suggested that George should try to sell it. He offered it to two book publishers
3 .......refused it. Unwilling to give up, George borrowed $50 from his friends
and used this to produce 500 versions o( the game, He then went off to sell these
around Salem and Boston, the two towns 4..................he knew best. He returned
home with a profit of $100.
This capital was used to set up George S. Parker Company in downtown Salem. George's two brothers soon joined the enterprise and it expanded rapidly. By 1888, its
catalogue listed 29 games. The most popular games were often diose 5...................were
invented by George himself.
3 Look at the words and expressions in italics in the text about the Parker Brothers. Each of them refers to someone or something else in the text. Write what each one refers to.
1 The company Parker Brothers 5 the game
2 this purpose................ 6 This capital...................
3 these .................. 7  the enterprise...................
4 this...................
Vocabulary
1 Circle the correct verb in these sentences.
1 Your business plan shows that it will be difficult totemtej)wrap/lay the running costs.
2 The government have rained /poured/'dripped a lot of money into this project.
3 They got out/took out/made out a loan to buy three new company vans.
4 The global vehicle market is preparing for a/an flood/river/ocean of new imports from Asia.
5 They had no assets which they could use to back up/back down/back off the loan.
6 The bank refused to give us a loan, so it was difficult to raise/carry/lift the money to start the business.
2 We often use verbs to do with travelling and types of transport when describing business ventures or statistics. Complete the following sentences using the verbs and nouns in the box. You will use each one twice, once for a sentence about travelling and once for a sentence about business.
headed for  took off ride  launch crash
1 A number of celebrities were invited to the $PJ|S$  of our new cruise ship.
2 His career really.................after he completed his business degree.
3 I would love to have a..............in your new Porsche.
4 The secret of a successful product launch ;s good planning.
5 Share prices fell by over 25 per cent in the stock market ...............of 1987.
6 The plane...................from London Heathrow airport at 14.20.
7 In September 1620, the famous ship, the Mayflower, left England and ...................America.
8 With the current economic uncertainties, I think the stock market is in for a bumpy....................
9 Over fifty people were injured in the train....................
10  Looking at their sales figures, 1 think the company is...................disaster.
1. **« pj.__a.
Grammar
l Write the effect (1-4) next to the correct cause in the table below.
1 They are over before investors can lake advantage of them
2 They buy more in winter
3 It is difficult to predict
4 People buy less in the summer
Cause	Effect
In December people often feel positive about the New Year	
People are on holiday in July and August	
The stock market is influenced by many different things	
Big gains in share prices usually happen very suddenly	
2 Complete the following text with the link words in the box. If you have difficulty, look again at page 43 (cause and effect words) and page 52 (contrast words) in the Student's Book. You need to use two words twice.
so  because  but however
SEASONAL CHANGES IN SHARE PRICES
There is some evidence that stock markets give better returns at certain times of the year. The traditional idea is that share prices rise in the winter 1 f then they fall in the summer. One obvious explanation of this is that people buy less
in the summer 2 .........they are on holiday in July and August. In December,
people often feel positive about the New Year 3 ..........they buy more.
4................, most financial advisers do not advise trying to follow seasonal
changes in the stock market. The stock market is much more difficult to predict
than this 5.................it is affected by so many different things, like wars and natural
disasters. In addition, the really big gains in share prices usually happen very
quickly 6...................they are over before investors can take advantage of them.
It is more important to invest for the long term than to try to predict the stock market's every move.
Vocabulary
Complete the crossword below.
						1			2		3							
														4			5	
						6												
																		
																		
																		
				8					9									
10																		
									11									
		12																
									13									
																		
Across
6 The collection of shares that someone has (9)
8 A market where share prices are rising is a ..............market (4)
9 A company which is at least 51 % owned by another is a..................company (10)
10 Part of the money invested in a business (5)
11 The action of making shares available to the public for the first time (9)
12 The result of joining two companies together (6)
13 The part of the company profits which is paid to shareholders (8)
Down
1
2
3
4
5
7
8
Money which is used for investment (7) Profits made from investments (7) A certain quantity of shares (5)
Oil, gold and coffee are all examples of.............(11)
Someone who can buy and sell shares for you (6) if you don't want to invest in shares, you might invest in these (5) A market where share prices are falling is a ................ market (4)