a derivative	pochodna, instrument pochodny
a trader	kupiec (akcji na giełdzie)
a bet	czynność maklera; coś na co stawia makler
bring sth down	obalić coś, doprowadzić coś do upadku
a deal	interes, transakcja
capital management	zarządzanie kapitałem
a hedge fund	fundusz hedgingowy
a fallen hedge fund	upadły fundusz hedgingowy
a bailout	dofinansowanie, subwencja; kaucja, poręczenie majątkowe
a rogue	łajdak, łobuz, szelma, szubrawiec
madmen	szaleńcy
financial instruments whose prices are dependent upon, or derived from, underlying assets	DEFINE derivatives
stocks, bonds, commodities, interest rates and market indices	ENUMERATE assets that derivatives might be derived from
a contract agreement to buy or sell sth at a predetermined price and time in the future	DEFINE a future
a security, commodity or financial instrument	a future might concern: ...
a right to buy or sell an asset at a fixed price during a certain period or on a specific date	DEFINE an option
Competition Commission	Komisja ds. Obrony Konkurencji
competition authority	organ ochrony konkurencji
Antitrust Authority	amerykański organ antymonopolowy
an abuse of a dominant position	nadużywanie swojej dobrej pozycji
European Commissioner for Competition	Europejski Komisarz ds. Konkurencji
market investigation	analiza rynku, badanie rynku
natural monopoly	monopol naturalny
advisedly	rozmyślnie, świadomie, z rozwagą
lion's share of the market	znaczna większość rynku
to compete vigorously	intensywnie konkurować (o firmach na rynku)
intervene in sth	intereweniować w coś
free market attitude	wolnorynkowe podejście
competition regime	przepisy z zakresu konkurencji
checks and balances	mechanizmy gwarantujące zachowanie równowagi politycznej
over-interventionist	zbyt interwencyjny
acquiring a competitor in the same field of activity	DEFINE horizontal integration
to combine the two companies to form a single new one	DEFINE to merge (with)
acquiring businesses involved in other parts of the supply chain	DEFINE vertical integration
backward integration	acquiring suppliers of raw materials or components
forward integration	buying distributors or retail outlets
acquiring part-ownership of a company by buying as many of its stocks as possible on a stock market	DEFINE a raid
controlling interest: >50% of a company's voting shares, allowing to decide about the strategy	pakiet kontrolny akcji & DEFINE it
a takeover bid	oferta przejęcia, oferta wykupu
a public offer to a company's stockholders to buy their stocks at a certain price	DEFINE a takeover bid
1)the price of a stock is above the current market price 2)it lasts during a limited period of time	What are the characteristics of a takeover bid?
to launch / to issue a takeover bid	złożyć ofertę przejęcia firmy [2 czasowniki]
a takeover bid when the board of directors of a company agrees to a takeover	DEFINE a friendly bid / friendly takeover
a takeover bid when the company does not want to be taken over	DEFINE a hostile bid / a hostile takeover
IBs have large M&A departments that analyze the value of listed companies and advise companies	What do investment banks do about takeovers?
leveraged buyouts	DECIPHER LBOs
largely financed by borrowed capital	EXPLAIN leveraged
When financiers consider that a conglomerate resulting from takeovers has not acheived synergy.	When do buyouts occur?
corporate raiders, private equity funds	ENUMERATE two financiers that can be involved in buyouts
Its market capitalization is lower than the value of its total assets	What does it mean that a company is undervalued on the stock market?
by issuing bonds	How do raiders usually raise money to buy undervalued companies?
daughter company; a company owned by a larger parent company; spółka zależna	subsidiary [synonym + definition + Polish equivalent]
They either 1) sell off the subsidiaries, or 2) close them and sell the assets	What do raiders do first with an undervalued company after buying it?
closing a company or a subsidiary and selling the assets	DEFINE assest-stripping
asset-stripping	wyprzedaż aktywów nabytej spółki
They pay back the bonds they issued to buy the company while making a large profit.	What do raiders do after they sell the subsidiaries of a conglomerate or carry out asset-stripping?
corporate raider	osoba lub firma planująca przejęcie pakietu kontrolnego innej firmy
for buying companies and making them more efficient prior to reselling them	What are private equity funds more respected for, in comparison to corporate raiders?
a sum of money reserved to pay a company's retired employees	DEFINE a pension fund
the total value of a company on the stock exchange (the price of all its stocks)	DEFINE market capitalization
when a group of thing work together better than if they were working separately	DEFINE synergy
conglomerates	companies that own or control several smaller businesses selling very different products or services
listed / quoted companies	public companies whose stocks are traded on a stock exchange
at an Annual General Meeting	When do stockholders decide about the company's strategy?
retail outlets	places where goods are sold (shops, stores, kiosks, markets, etc.)
to diversify	to become more varied or different (e.g. by selling different products)
habitually	zwyczajnie, powszednie; notorycznie, nałogowo
a company with the biggest market share	DEFINE a market leader
the second-biggest company in the industry	DEFINE a market challenger
one of many smaller companies that follow tha market leaders and market challengers	DEFINE a market follower
a unique selling proposition	something that makes a product different from any other, and appealing
market segment	segment rynku
a niche	nisza
a new entrant	nowy konkurent
They focus on market segmentation and sell products differentiated from those of larger companies.	What do many smaller companies focus on to be able to co-exist with the leader?
the process of defining and subdividing a large homogenous market into clearly identifiable segments	What is market segmentation?
differentiate	wyróżniać się; odróżniać, rozróżniać
a cluster	a group of similar things (e.g. companies) situated close together
a landlord	a person or organization that owns a bulidng or area of land and rents it to other people
an entrepreneur	a person wko starts their own business, especially when this involves taking risks
a headhunter	a recruiter of important personnel for companies
attorney	an alternative American term for a lawyer
vulnerable	likely to be attacked
to dominate	to have control over something,or to be the most important preson or thing
to disrupt	to prevent something from continuing as expected
to address / to tackle (a problem)	to try to deal with a problem [2 verbs]
high-tech companies	najnowocześniejsze spółki
an early stage company	firma na wczesnym etapie rozwoju
an industrial cluster	miejsce, gdzie skupiają się firmy z danej branży, np. Silicon Valley
all the money received from business activities during a given period	DEFINE income
expenditure	all the money a business spends on goods and services during a given period
a financial operating plan showing expected income and expenditure	DEFINE a budget
anything owned by a business - cash, buildings, machines, equipment, etc.	DEFINE an asset
liabilities	all the money that a company will have to pay in the future: debts, taxes and interest payments
an entry in an account, recording a payment made	DEFINE debit
wpis, wpisanie	an entry [jak to jest po polsku]
an entry in an account, recording a payment received	DEFINE credit
intangible	adjective describing something without a material existence, which you can't touch
accrued	adjective describing a liability which has been incurred but not yet invoiced to the company
fakturować	to invoice
faktura	an invoice
accrued	należny, narosły (np. odsetki)
deferred	delayed or postponed until a later time
cost accounting	calculating all the expenses involved in producing sth: materials, labour and others
tax accounting	calculating how much a company will have to pay to the local and national governments (&reducing it)
inspecting and reporting on accounts and financial records	DEFINE auditing
preparing financial statements showing income and expenditure, assets and liabilities	DEFINE accounting
managerial accounting / management accounting	providing information that will allow a business to plan future operations and develop strategies
to disguise	ukryć, zatuszować
creative accounting	using available accounting procedures & tricks to diguise the true financial position of a company
bookkeeping	writing down the details of transactions (debits and credits)
a cash flow statement	a statement giving details details of money coming into and leaving the business
1) day-to-day operations 2) investing 3) financing	What sections is a cash flow statement divided into?
day-to-day	codzienny, zwykły; z dnia na dzień (bez wcześniejszego planowania)
Income statement | Statement of income | Profit and loss statement | Profit and loss account	a statement showing the difference between the revenues and expenses of a period
Balance sheet | Statement of financial position	a statement showing the value of a business's assets, liabilities & capital or shareholders' equity
money that business has that belongs to its owners	DEFINE shareholders' equity
a powerhouse	kopalnia, elektrownia; osoba pełna energii
to coalesce	połączyć się, sprzymierzać się
a nucleus	jądro
to converse	rozmawiać, porozmawiać
brash	bezczelny, krzykliwy
disruptive	zakłócający spokój; destrukcyjny
a paradigm	wzór, przykład, model
a runway	pas startowy
a structured product	"opakowana" strategia inwestycyjna oparta na pochodnych
spread betting	gra na giełdzie oparta na różnicy cen akcji
short selling	the practice of selling securities that are not currently owned and subsequently repurchasing them
to hedge a bet	zabezpieczyć zakład, zminimalizować ryzyko
commodities	towary (jako obiekty kupna i sprzedaży)
a security	papier wartościowy
a tradable asset of any kind	DEFINE a security
debt securities, equity securities, dervative contracts	What are securities categorised into?
a call option	an option that offers the buyer the right to buy
a put option	an option that offers the buyer the right to sell
the strike price	an agreed-upon price defined in an option
raw materials that are traded on specific markets	DEFINE commodities
making contracts to buy/sell in the future, at arranged price, as a protection against price changes	DEFINE hedging
buying assets hoping to make a capital gain by selling them later at a higher price (or inversely)	DEFINE speculation
an agreement to exchange future interest payments with another company or financial institution	DEFINE an interest rate swap
floating rate loan for a fixed interest rate loan	an example of an interest rate swap
floating	zmienny (rata kredytu)
an agreement between two parties who exchange payments on loans in different currencies	DEFINE a currency swap