Business English Bits Issue 244
The 10-min homework newsletter that supports your advanced business and English language learning through Youtube video reports and highlighting vocabulary ...
Greetings to today’s Business English Bits!
In today’s highlighted video report - Issue 244 - we are delving into the mesmerising* business of producing gold. I have some family living in Western Australia, and with gold prices hitting record highs, I hear stories of the economy being driven by a ‘gold rush’ alongside more traditional types of mining.
With Gold, at present, coming in* at a spectacular $5,000 an ounce, the sector is attracting a lot of new investment especially from the States. The gold mining industry, however, has had a lot of problems in the past with returns failing to materialise** and huge fortunes lost.
*To Come in (pv) - To Obtain, be the result of smth
**To Materialise (v) - To become real or take shape after being planned
But according to those in the know*, this time things could be different, mining firms have more experience and have been somewhat** professionalised. Expansion has been rolled out*** steadily and spending brought under control.
*In the know (ph) - Having access to special or insider information that others don’t
*Somewhat (adv) - To a certain extent
***To Roll out (pv) - To deploy or launch
Challenges obviously still exist. There are, as with any sector, increasing costs, supply chain bottlenecks*, and global economic and political uncertainty. But for investors, it’s precisely this backdrop** that is pushing up the global demand for gold and countries, companies and individuals look to shore up* their balance sheets.
*Bottleneck (n) - Point of congestion or delay that slows down a process or system
**Backdrop (n) - General situation, conditions, or context in which events occur
***To Shore up (pv) - To strengthen or reinforce smth that is weak or at risk
So sit back and learn about the world of gold mining and enjoy the dramatic scenery of Western Australia.
Focus on some key new verbs from the video …
VIDEO: Bloomberg TV (12mins) - The New Gold Rush: Why Australia’s Miners Say This Time Is Different
Key Words - (Smth = Something; Sb=Someone; Col=Colloquial)
Outback (n) – Remote or less-developed area
Scrub (n) – Dense vegetation
Bounty (n) – Large amount or reward
Sight to behold (ph) – Smth impressive or remarkable to see
Be on a tear (ph) – Be performing exceptionally well over a period
To cash in (pv) – To make money from an asset or opportunity
Set the scene (ph) – Provide context or background
To ensue (v) – To happen afterward as a result
To refurbish (v) – To renovate or improve
Flurry (n) – Sudden burst or activity
Standpoint (n) – Perspective or point of view
Boom (n) – Period of rapid growth or success
Misstep (n) – Mistake or error in judgment
Hindsight (n) – Understanding of events after they happen
To hedge (v) – To protect against risk
To bolt on (pv) – To add an acquisition or asset to a business
Accretive (adj) – Adding value, especially to earnings
FY – Fiscal Year
Bull run (ph) – Sustained period of rising market prices
Bust (n) – Sudden economic or business failure
Word of the Day … Guess the missing key word - Answer given below with examples!
Some new phrasal verbs to review …
Word of the Day Answer:
Standout (noun/adj) - Person or thing of exceptional quality or ability
Examples:
“The new smartphone was the clear standout at the tech expo, attracting the most attention from both media and consumers..”
“Among the sales team, she was the standout, consistently exceeding her targets and closing major deals.”
I hope you’ve been able to tap into this issue of Business English Bits ….
Have a fun weekend, and see you next Saturday!
Kevin