1、Unit 3 World News: Economic DevelopmentsPart I Warming upATapescript:1. Central Bank governors from more than a dozen countries have been meeting in Hong Kong today. One subject they likely discussed is the outlook for the global economy because of the U. S. slowdown and Japans struggling recovery.
2、Another topic they may have discussed is how to strengthen financial markets in emerging economies in Asia and elsewhere.2. A United Nations report says the worldwide total of foreign investment grew by nearly 40% last year to more than 600 billion dollars. The report by the UN Conference on Trade a
3、nd Development, UNCTAD says most of it took place between developed countries as big companies took one another over.3. The United States House of Representatives has approved a cut in income tax rates, the first part of a package of tax cutting measures put forward by President Bush. The income tax
4、 reductions will amount to nearly 1 trillion dollars over ten years.4. The worlds largest maker of computer chips, Intel, has announced job cuts after a fall in demand for its products. Intel said it expected its revenue in the first quarter of this year to fall by a quarter than the same period las
5、t year. The California-based company plans to reduce its 85,000-strong work force by 5,000.5. The European Union has imposed further restrictions on the movement of live-stock after a case of foot-and-mouth disease was confirmed in France. The United States and Canada have issued temporary bans on t
6、he import of all animal produce from EU countries.BTapescripts:1. The dollar is trading at one German mark seventy-three point three and at 126.9 Japanese yen. The pound buys one dollar sixty-two point four. In New York, the Dow Share Index closed 45 higher at 6,783. Earlier Londons 100 Share Index
7、ended 20 higher at 4,390. In Tokyo, the Nikkei Share Index is closed for a holiday.2. The Dow Jones Industrial Average closed up 96 points at 10,116. The Standard and Poors 500 Index gained 6 points to close at 1,254. But the NASDAQ Index lost 1.5% as high technology and Internet stocks were battere
8、d.3. Right now the Dow is down another 66 points at 8,094; the NASDAQ Composite down 3 points at 1,662. Turning to Europes major markets: London stocks were hit by a wave of profit taking after five straight record closes; the FT 100 Index down 36 points; Paris seeing losses as well, the CAC quarant
9、e down 33 points or 1%; and Frankfurts DAX also fell 1% after briefly moving into record territory.4. The Hang Seng Index closed down 89 points at 3,521. The turnover was 7.71 billion dollars. Now look at the ten most active stocks. Cable and Wireless HKT up 45 cents, HSBC holdings down 50 cents, Hu
10、tchison down 50 cents, Shanglongkai Property up $2.25, and China Telecom down $1.50, Chang Kong up 25 cents, Pacific Century Cyberworlds down 10 cents, CCT Telecom down 27.5 cents, New World Cyberspace down 7.5 cents, and Hanong Holdings down 25 cents. The Hang Seng Index future for November and Dec
11、ember were all down. Hong Kong gold closed at 2,670 Hong Kong dollars, and London gold is trading at 289 U.S. dollars.5. Consumer electronics maker Philips Electronics reported a lower than expected profit for last year. The company made about $2.4 billion, more than $300 million below estimates. Oi
12、l company Royal Dutch Shell posted its earnings. It made roughly a $3.6 billion profit for its fourth quarter. That was essentially in line with Street expectations. Electronic Data Systems also reported its fourth quarter numbers last night. It posted a 70-cent profit per share, two cents better th
13、an expectations.Part II News reportsATapescripts:For the second year in a row, the General Electric Corporation is ranked number one in an annual survey of the 100 most powerful corporations in the world.The survey, compiled and published by Forbes business magazine, shows General Electric of the Un
14、ited States ranked number one, followed in second and third place by the U.S. banking and financial services giants Citigroup and Bank of America. In fourth and fifth place are the British-based HSBC Banking Company and Daimler-Chrysler, the German-American auto-company. The companies are ranked wit
15、h a composite formula, which includes total sales, profits, assets and market capitalization, or the total value of its (their) stock. What the magazine calls its “Super 100 Global“ list are 46 companies based in the United States and 54 in Europe and Japan.Mike Ozanian, the Forbes editor who compil
16、ed the list, says there is a growing trend of international mergers and acquisitions, citing companies such as Daimler-Chrysler and BP-Amoco, the Anglo-American Oil Company. Mr. Ozanian says that despite the huge capitalizations of many Internet-related firms, none were included because most have li
17、ttle, if any, profits - at least not yet.BTapescript:U.S. stock prices were mixed on Monday, with the “blue-chips“ in a rally mode. But volume was only moderate after a holiday-shortened week last week, showing lingering uncertainty among investors.The Dow Jones Industrial Average went up 75 points,
18、 less than one percent, to 10,546. The S & P 500 Index gained 7 points. But the NASDAQ Composite backed off an early rally, taking a loss of almost one percent on weakness in selected technology stocks.The Dow Industrials actually got a boost from their technology components. Shares of Intel traded
19、higher after an analyst said sales growth at the leading computer chip-maker could be stronger than expected. Microsoft stock also edged higher.Retail stocks gained on stronger-than-expected sales over the Thanksgiving weekend, as the holiday shopping season got underway.However, analysts caution th
20、e retail picture is still clouded because many stores offered bargains to attract shoppers. Experts worry that higher oil prices and interest rates will make this a less than merry Christmas season for U.S. merchants.The latest on the U.S. economy points to slower growth. Sales of existing homes fel
21、l a steep 3.9 percent in October, their second monthly decline.Many analysts think uncertainty over the economy makes it increasingly likely that the major stock averages will close lower for the year. But investment strategist Alan Skrainka says the longer-term looks better.“No one can guess what w
22、ill happen to the market over the next month. But over the long-term, we think the market looks very good. If youre a long-term investor, this is a very good entry point for getting into the market because this is what youve been waiting for. All the fear and uncertainty in the marketplace is settin
23、g us up for some very good values in the market.“Part III Voice mail may cost companys business APart 3 Voice mail may cost companys business Bob Edwards: An automated phone system aimed at saving companies money may be turning off their customers. The system is voice mail in which callers are instr
24、ucted to punch buttons to reach the desired party or to have a question answered. Its used by more than one third of major US companies. Consultants are warning that this system has hidden costs that could result in lost business. In the San Francisco area, one companys biggest selling point is that
25、 it does not use voice mail.Elaine Korry: Five years ago, when voice mail was first introduced, many companies were wary of the technology. Now it seems voice mail has taken over both business and government phone services. In a recent ad campaign, TakeCare, a large health maintenance organization,
26、lampooned the disembodied voices with their menu options: Hello. Welcome to Fidelity HMO. If you have a question, press 1 now. if you would like that question answered, press 2 now. if you would like to be put on hold for ten minutes, press 3 now. if you would like to hear bland orchestrated pop son
27、gsIn the ad, TakeCare boasts its customers have an old-fashioned alternative to voice mailOperator: And the patients first name? And how can I help you?Elaine Korry: In the TakeCare service department, ten live operators answer more than a thousand customer phone calls each day. President Jud Jessup
28、 says the spoof on voice mail has been a huge success in promoting his companys distinctive image.Jud Jessup: We strive to deliver personalized service and weve always positioned our company as what we call a “high service” HMO. And we dont think that getting a recording is high service. It may-may
29、be efficient, and may be cost effective, but its not high service.Elaine Korry: According to many consumers, voice mail is no service at all, but rather a way for companies to hide from their customers. Complaints about automated phone systems are definitely on the rise. Plogue Research in Los Angel
30、es recently surveyed businesspeople across the country. According to Stanley Plogue, the majority felt frustration, even fury, over their run-ins with voice mail.Stanley Plogue: A lot of irritation, and a kind of common phrase right now is its “voice jail”- you get trapped in it, and you cant get ou
31、t. Elaine Korry: Plogue says that a time consuming or confusing voice-mail system can actually cost a company business.Stanley Plogue: About a fourth of the people said they have not let out a contractor or supplier because they didnt like their voice mail system. And others have just given up with
32、trying to deal with certain companies.Sandy Hale: It sounds to me in that kind of a situation that (there) was not an option to reach a live prison immediately, which there always should be.Elaine Korry: Sandy Hale is with Pacific Bell which manages 300,000 voice mailboxes in California. She says, “
33、Dont blame the technology for customer complaints.” According to Hale, those groans of frustration arise because companies dont do a good job designing their voice mail menus.Sandy Hale: People want to get the information they called in for. They want it quickly, they want it simply. If you dont giv
34、e them an option to find the information they need, theyre going to be frustrated-theyre going to go away.Elaine Korry: Some companies, including banks, airlines, and insurance agencies, have dropped voice-mail because of complaints, but according to Hale, flawed systems easily can be fixed. Pacific
35、 Bell has published an “Etiquette Guide” for its voice-mail customers. The booklet stresses that callers should always have the option of talking to a human being when they need help. Sandy Hale admits many voice-mail systems could use an overhaul, but she says that technology is here to stay.Sandy
36、Hale: As companies are, you know, watching whats happening to their bottom line, and see whats happening with their costs, theyre looking for ways to become more efficient at what they do, including their customer service operations, and voice mail is certainly a valuable tool.Elaine Korry: HMO pres
37、ident Jud Jessup says his company does use voice mail for internal communications, and he admits its been useful in cutting down on telephone tag among his employees. But, says Jessup, calls from the public are entirely different.Jud Jessup: People have individual problems. I think therell always be
38、 a place for personalized service.Elaine Korry: TakeCare president Jud Jessup, who foresees a growing backlash against voice mail. In San Francisco, Im Elaine Korry.If you still want a membership card, please punch in Beethovens 5th.Da Da Da DaNow-in D minor.Part IV Business jargonAMost people like
39、using short-cuts. We all usually want to get from A to B as quickly as possible and when we want to get our message across to people with the same job as us, we often use jargon. Its a kind of short-cut that helps us communicate without wasting time. Jargon is simply a kind of language shorthand tha
40、t lets us say what we mean quickly. Or is it?In the business world you might expect to hear or use a lot of jargon. However, a report just out in Britain claims that most managers overuse business jargon and that this has a negative effect on how staff feel.Investors in People-a public body whose ma
41、in stakeholder is the Department for Education and Skills-says that using terms like “bluesky thinking” rather than saying more plainly “imagine new or different ways of doing things” baffles employees and widens the gap between managers and staff.Most employees in Britain, according to this survey,
42、 have a low opinion of colleagues who use management jargon. Over a third of those surveyed think it shows a lack of confidence and almost one in five think people who use it are untrustworthy or trying to cover something up.Some of the most overused business expressions that fell foul of those surv
43、eyed ( and their more straightforward explanations) were: Get our ducks in a row (have everything arranged efficiently), brain dump (tell everything you know about a particular subject) and think outside the box (be creative in how you think about problems).Peter Russian from Investors in People sai
44、d that an effective boss is one who can communicate in a way which everyone can easily understand, not one who uses a lot of management jargon.So now that youve got the helicopter view (just an overview) of business jargon, its time to give you a heads up (a warning) not to overuse this management speak. But thats a real no-brainer (thats simple), isnt it?
