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.

4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:

Undertake, remained, holds, relationship, joint venture, sister, stake, holding, subsidiary (2), conglomerate, separate

1 One of the oldest breweries has now joined an international ... of drinks manufacturers. 2 There are now five ... companies in the group. Each ... company trades under its own name. 3 The businessman formed a ... company to control all his assets. 4 They have a 25% ... in the business. 5 Our ... company may share some of the advertising costs with US. 6 An American and a German auto maker agreed to form a......to build trucks. 7 Those two companies have a close working.... 8 She ... stocks of 12 companies. 9 This product has ... popular for many years. 10 The company will... the building of a large warehouse. 11 The cost of making the product and the cost of selling it are two ... issues.

5 Fill in the missing prepositions: (into, for (2), of (4), with, in (7), by (2), because of)

1 The group's shares fell ...10 %...a fall in the home market. 2 Our parent company has its HQ ... Finland. 3 Nestle Corporation, ... its many branches and subsidiaries, is one ... the world's largest food manufacturers. 4 Multinational corporations now operate ... every sector ... industry. 5 Philip Morris is a holding company which owns several major American companies ... the tobacco and food industries. 6 Warner Bros is an entertainment conglomerate that produces television programmes ... broadcasting all over the world. 7 Japanese and US firms ... the textile industry continue to enter ... joint ventures ... India. 8 The hotel was finally rescued ... a consortium ... local business owners. 9 I work ... a construction company which has a lot ... contracts ... other countries. 10 The partners ... a joined venture agree to control and manage the business together.

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.