Included in the course is 1 Free 15 minute American Conversation through SKYPE.
4 Free Worksheets
Beginner vocabulary worksheet
Basic vocabulary worksheet
Advance vocabulary worksheet
Expert vocabulary worksheet
2. Business English conversation Lesson# 1
3. Business English conversation Lesson# 2
4. American Job Interview
The teaching method employed is based on the philosophy that for the students to speak English well they must be able to recognize and produce the tones of the language accurately. English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons
order to accomplish this, a method of FOCUSED PRACTICE is used. Practical vocabulary and grammar patterns are introduced and drilled before students are ask to engage in short or long conversations.
A large percentage of the class is spent having the teach model sounds, patterns and sentences and the students practising drills.
Within each lesson, dialogues are practised to help students communicate outside the classroom.Our American English language courses consist of two levels. They are recommended for those with a serious interest in learning to understand speak, read and write English. Students are encouraged to devote one to two additional private hours a day to the study of the English language.
Our classes are taught by qualified and experienced native speaking English instructors. Classes are small (size ranges from 1 to 4 ) to allow maximum participation .English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons
Our English Language courses consist of two levels.
They are recommended for those with a serious interest in learning to understand speak, read and write English.
Students are encouraged to devote one to two additional private hours per day to the study of the language..
English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons
kype classes are taught by qualified and experienced native-speaking English instructors. Skype classes are small (size ranges from 1 to 4) to allow maximum participation.
In class, students practice speaking the English Language in a controlled setting. As a student you will be expected to actively participate in the learning process, not only between yourself and the teacher but also between fellow students. The use of grammar patterns are presented and repeated to ensure proper pronunciation. Dialogues are also practised to increase fluency.
AMERICAN ENGLISH CONVERSATION
Free Amercian English Conversation course. This course is aimed at giving you a good foundation of spoken English language.Special emphasis is placed upon good American English tone production, while using and recognizing basic vocabulary and sentence patterns. Short dialogues and class activities are practised to enhance fluency and accuracy when talking. After completing the Free American English Conversation course, you should be able to recognize and respond appropriately to high frequency and expressions about familiar American English topics.
DIRECTIONS: Read the following and answer the questions?
The Associated Press reported from Moscow Friday that an expected deal between Russia and China to supply around 60 billion cubic meters of natural gas to China has stalled. The two could not agree on price.
Past energy negotiations between China and Russia often have snagged on disagreements over prices, loan terms and other issues, including Beijings desire for equity stakes in Russian resources. Like Chinas own state-run companies, Russia balks at ceding any control over what it views as strategically vital assets, the AP reported.
In a Financial Industry Regulatory Authority (FINRA) Arbitration Statement of Claim filed in September 2009, Claimant Merrill Lynch asserted breach of promissory note and unjust enrichment causes of action arising from Respondent Aquinos alleged failure to pay the balance due and owing on a Promissory Note executed on or about April 22, 2008 (the Promissory Note). Claimant Merrill Lynch sought
* $969,870.41 in compensatory damages for the outstanding principal of the Note;
* interest from September 21, 2009 through such date as the principal and Interest are fully paid, accumulating at a rate of $132.86 per day;
* attorneys fees;
* costs; and,
* any additional relief the Panel deemed just and appropriate.
By the close of the arbitration hearing, Claimant had further clarified various damages as $80,911.74 in interest through July 16, 2010 ; $419,501.26 in attorneys fees , and, $32,605.83 in costs. In the Matter of the FINRA Arbitration Between Merrill Lynch, Pierce, Fenner & Smith, Incorporated, Claimant, vs. Angel E. Aquino, Respondent (FINRA Arbitration 09-05587, June 14, 2011. Hearing Site: San Juan, Puerto Rico)
Respondent generally denied the allegations, asserted various affirmative defenses. Respondent filed a Counterclaim asserting breach of contract and termination without cause, and he requested:
* $1,000,000 for the loss of Monthly Transition Compensation
* $200,000 for the loss of Revenue Performance Bonus damages
* $200,000 for the loss of Up Front Contingent Award
* $100,000 per month for the loss of commissions
* $2,000,000 for the loss of negotiating an advance against future commissions with another firm
* $50,000,000 in damages for the present value of commissions that would have been generated over Respondents lifetime
* $4,000,000 for physical and mental pain
* $100,000,000 in punitive damages
* $50,000,000 in good will damages
* $7,500,000.00 representing five times his average yearly earnings
* five percent of the value of securities sold by Respondent during his tenure at Merrill Lynch
* expungement of his Form U-5
* attorneys fees
* costs
* any other relief the Panel deemed just and appropriate
At the close of the hearing, Respondent requested compensatory damages in the sum of $13,290,232.26.
SIDE BAR: I dont know about you but I love the sound of a $50 million and $13 million claim. It just has a lovely ring to it. Also, this is setting up as one of those cases where you get a bucket of popcorn (dont tell my wife that I drenched it in butter), lay down on the couch, and prepare to watch a Heavyweight World Championship fight. I mean, cmon, this is going to be a slugfest. And dont forget that Merrill Lynch started this with its $1 million-plus claim.
Now You See It
This case involved a number of Motions, among which was Respondents Motion for Visual Inspection,which,among other things, requested that the FINRA Arbitration Panel order that a visual inspection of Respondents former office be performed by the Panel to determine the visual and audial [stet] perception of witnesses to an event at issue, involving Respondent and his superior. The Arbitration Panel granted the Motion and conducted the requested inspection with legal counsel for both parties present.
SIDE BAR: Frankly, kudos to Respondents legal counsel. A very clever move and something that more lawyers should demand. I have no knowledge of what the issue was here (not explained in the FINRA Decision) or what was in dispute in terms of the proximity of various parties, but from my years of practice I know that sometimes theres just no substitute for being there, standing there, and looking around.
Sometimes a witness swears that he saw everything from his office or she heard it all from her desk, but all the diagrams in the world just dont demonstrate how unlikely those claims are. Get a jury or panel to stand in the office and see that the executives desk was way around the corner and behind a pillar or that the overheard conversation took place within a highly-walled cubicle amidst the hub-bub of a noisy trading floor, and that physical proof can be compelling.
Oops
Respondent filed a Motion for Protective Order against Claimant (related to Respondents wife) in which he asserted, among other things, that his wife received an unwarranted call from Claimants representatives; and that Claimants breach of Respondents and his wifes private life and sanctuary was unjustifiable.
Claimant asserted, among other things, that no attorney or employee of Claimants counsels firm made the alleged call; and, Respondents wife had been identified as a potential witness on Claimants witness list since June 23, 2010, to which Respondent had never objected. Respondent countered that his wife had never been identified as a witness on the witness list filed by Claimant.
Thereafter, Claimant admitted that it had inadvertently misstated that Respondents wife was listed as a potential witness on its witness list. The Panel granted the Motion.
SIDE BAR: Ouch!
DECISION
The FINRA Arbitration Panel found Respondent Aquino not liable and denied Claimant Merrill Lynchs claims with prejudice.
However, the Arbitration Panel was not done. Not by a long shot.
The Panel found Claimant Merrill Lynch liable for the defamatory nature of information placed on Respondent Aquinos CRD record and ordered the firm to pay to Respondent compensatory damages in the amount of $1,546,247.00 (prejudgment interest specifically excluded); and $600.00 representing reimbursement of the non-refundable portion of the Counterclaim filing fee previously paid by Respondent to FINRA Dispute Resolution. The Panel denied punitive damages and any award for emotional distress.
Expungement
Based upon a finding of defamation, the FINRA Arbitration Panel recommended the expungement of the Termination Comment in Section 3 of Respondents Form U5. The Panel recommends the expungement of the following language:
Mr. Aquinos employment was tenninated on September 21. 2009 for failure to adhere to the firms policies and standards regarding employee conduct This matter did not involve customer accounts
The Panel recommended the following replacement explanation:
Mr. Aquino was terminated not for cause.
The Panel retained as unchanged Discharged as the Reason for Termination.
In this case involved a number of Motions, among which was Respondents Motion for Visual Inspection,which,among other things, requested that the FINRA Arbitration Panel order that a visual?
A. TRUE
B. FALSE
Did the FINRA Arbitration Panel found Respondent Aquino not liable and denied Claimant Merrill Lynchs claims with prejudice?
A. TRUE
B. FALSE
DIRECTIONS: Read the following and answer the questions?
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In case you haven't noticed, there's a lot of uncertainty in the market right now. Along with the European financial crisis, the budget battle and political posturing surrounding the 2012 election, uncertainty over Fed policy is driving a lot of rethinking about where to invest.
The biggest immediate concern is what will happen in debt markets once the Federal Reserve stops buying long-term Treasurys. Its "quantitative easing" program has kept long-term rates low, so in theory those rates should rise beginning in July after the Fed ceases its second wave of security purchases. Conflicting schools of thought see this playing out differently. Many believe that the Fed will continue to intervene to keep long-term rates low.
Forget about ever seeing short-term rates normalize in your lifetime. Since most of the $14 trillion national debt is financed in this market, every one-percentage-point rise in short-term rates would add $140 billion to the deficit. Imagine what three points would do. Expect the Fed to keep using the unemployment rate as its excuse for not raising rates even in the face of rising inflation.
My income investment strategy has been to diversify over a variety of income drivers so that no single adverse economic event can destroy the overall performance of a portfolio. This approach has worked well over the last two years because all sectors have benefited from a recovery from the financial crisis and the concurrent recession. Looking forward it seems clear, however, that some sectors face greater uncertainty than others. Some of this is due to recent run-ups in prices and some to a lack of predictable direction. Also, we cannot underestimate the emotional factors that often lead to perceptions trumping reality.
My most confident allocation is in adjustable-rate debt securities. These securities will benefit from a rise in interest rates, but they require a sacrifice of one to two percentage points in current yield. Since I expect rates to rise before year-end that is a small concession, especially if the security is trading below its par value.
Look for securities tied to the headline Consumer Price Index rather than the core CPI, which lags the true inflation rate by a significant amount when commodities like oil and foods are moving higher. One is Prudential Financial ( PRU - news - people ) (PFK, 27), which pays CPI plus 240 basis points. It currently yields 4.6%. A fund alternative is the Nuveen Tax-Advantaged Floating Rate Fund ( JFP - news - people ) (JFP, 2.5), which yields 5.9%. Note that Treasury Inflation-Protected Securities (TIPS) are not the best choice here, but if you like them, buy the iShares Barclays ( BCS - news - people ) TIPS ETF (TIP, 110) for its more favorable tax treatment. Allocate 30% of your portfolio to adjustable-rate securities.
The second area, where I recommend a 20% allocation, is energy, specifically oil. Yes, the big-appreciation gains are probably over, but the income payouts are still high and will likely rise. Look to buy Canadian oil and gas producers for your tax-sheltered account, as they are not subject to the 15% Canadian withholding tax. My choice here is Penn West Petroleum (PWE, 25), paying 4.4%. Buy master limited partnerships like Plains All American Pipeline ( PAA - news - people ) (PAA, 61), paying 6.3% for taxable accounts to obtain a high tax-deferred payout that can grow.
I'm allocating another 15% to stockmarket-linked securities. These include convertible securities like Wells Fargo ( WFC - news - people )'s 7.5% convertible preferred (WFC-L, 1,079), as well as closed-end funds that invest in stocks and use call option writing to enhance the yield. Look at Eaton Vance Tax-Managed Buy-Write Opportunities Fund ( ETV - news - people ) (ETV, 13), yielding a tax-advantaged 10%.
This final 35% of the portfolio should be in a combination of cash and gold. By holding cash you avoid having to make a sell decision, which can cloud the buy decision when an opportunity comes. Gold should be up to 10% of this total, using an ETF that holds bullion, such as SPDR Gold Trust (GLD, 149) or iShares Gold Trust (IAU, 15). Other commodity-based ETFs are available, but I prefer gold for its broader audience of buyers, more limited supply and longer history as a vehicle for wealth preservation.
In order to raise cash from your existing holdings, look to take some profits by reducing positions that have done well for you as well as by reducing your fixed-rate debt exposure. Then again, you could just raid your equities portfolio.
A reshuffling of Greece Prime Minister George Papandreous cabinet and a call for rapid action from the leaders of France and Germany gave the euro a lift Friday, and in turn Wall Street.
Former Greek defense minister Evangelos Venizelos will take over as finance minister from Giorgos Papakonstantinou, the author of the wildly unpopular, albeit necessary, austerity programs, who is begin reassigned to an environmental post.
The move comes as some of the EUs stronger core countries push for a resolution to Greeces fiscal mess. French President Nicolas Sarkozy and German Prime Minister Angela Merkel showed a united front on the need for a deal in the next few weeks, but offered few details of when and how such a deal will get done or who will pay for it.
To date, Germany has demanded that any Greek rescue come with the participation of private bondholders, who would have to take haircuts on their investment, as opposed to the French position of paying creditors 100 cents on the dollar. The opposing perspectives may be a reflection of the exposure within the French and German banking systems to Greek debt. Just this week, Moodys said it was placing the ratings of a trio of French banks BNP Paribas, Credit Agricole, and Societe Generale under review. (See Greek Clouds Over French Banks.)
While there is still a tough row to hoe, the more encouraging signals around the debt situation helped bolster the euro, which rallied to $1.4277. The 17-nation currency has been surprisingly strong against the dollar in the face of a Greek default, something that seems incongruous and would likely reverse sharply if the delicate deal talks collapse again.
European stocks made moderate gains Friday, and U.S. stocks were moving sharply higher at the open as the major indexes try to avoid a seventh-straight down week. On Thursday investors showed a taste for Americas biggest companies, with the Dow Jones industrial average comfortably outperforming the S&P 500 and the Nasdaq the latter actually finished in the red.
Among stocks in the news, Research In Motion bears watching after getting crushed in after-hours trading following a disappointing earnings report that missed revenue forecasts and offered a bleak outlook. Shares of the BlackBerry-maker were down more than 16% pre-market. (See Research In Motions Q1 A Win For The Bears.)
BJs Wholesale Club moved up 3.5% before the bell on word that private equity firms Leonard Green & Partners and CVC Capital Partners had teamed up on a buyout offer for the retailer. The news, which came in an SEC filing, did not include the financial terms of the deal, which has been rumored seemingly since Leonard Green disclosed a 9.5% stake in BJs last year.
Did income investment strategy has been to diversify over a variety of income drivers so that no single adverse economic event can destroy the overall performance of a portfolio did this approach has worked well?
A. TRUE
B. FALSE
Did the move up 3.5% before the bell on word that private equity firms Leonard Green & Partners and CVC Capital Partners had teamed up on a buyout offer for the retailer?
A. TRUE
B. FALSE
ENGLISH LESSONS
DIRECTION: Read the following and answer the questions?
The battle for the top job at the International Monetary Fund kicked into high gear Thursday, with Europeans staking their claim for the post as the continent grapples with economic problems and Asian and emerging nations arguing now is their time to lead the international institution.
World Bank President Robert Zoellick said global leaders have started the formal process to replace Dominique Strauss-Kahn, who early Thursday resigned following his weekend arrest on sexual-assault charges.
"There's a process that the countries will use, and the shareholders and you can see it starting to form now," Mr. Zoellick said after speaking at the Bretton Woods Committee annual conference in Washington. "It's up to the shareholders to decide the next process that they take in leadership and I'm sure they'll pick a very fine person
Asked whether the process would live up to promise by global leaders for a more transparent, merit-based process, Mr. Zoellick said, "I'm sure it will be."
The Group of 20 industrialized nations has promised to change the leadership selection process at both the IMF and World Bank, suggesting a move away from the automatic appointment of a European to the IMF and an American to the World Bank.
Mr. Zoellick spoke as European governments coalesced around Christine Lagarde, a corporate lawyer who has been France's finance minister since 2007 and who has emerged as the frontrunner for the IMF job in the days since Mr. Strauss-Kahn's arrest in New York.
1. Who is the world bank President?
A. Robert Zoellick.
B. Christine Lagarde
C. John Lake.
2. What does the IMF stand for?
A. International Money Fund.
B. International Music Foundation.
C. International Monetary Fund.
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NEW YORK (AP) -- People are paying more to fuel up these days -- on coffee.
Coffee price increases have outpaced even the hike in gasoline prices the past year. A one-pound can of ground coffee sold for $5.10 in April, up 40 percent from $3.64 the year before, according to the Department of Labor. By comparison, a gallon of regular gasoline cost $3.83 on average on Tuesday, up 37 percent from a year earlier.
And while fuel prices are expected to stabilize, coffee increases could continue for some time because the prices that coffee companies pay for unroasted beans are still climbing -- fast. Coffee futures were trading for $2.61 per pound Tuesday, roughly double a year earlier.
J.M. Smucker Co., the maker of grocery store stalwart Folgers and of packaged varieties of Dunkin' Donuts coffee, said Tuesday that it is raising prices of most of its U.S. coffee products by 11 percent, its fourth increase in a year. Kraft Foods Inc., Peet's Coffee and Tea Inc. and Green Mountain Coffee Roasters Inc. have also recently hiked their prices for coffee.
Starbucks Corp. also said Tuesday that it will raise prices on packaged coffee in its stores by an average of 17 percent in the U.S. and 6 percent in Canada. That follows a 4 percent increase in 2009. The company also raised prices in March for its packaged coffee sold in grocery stores and at other retailers.
But the drink remains essential to many.
Eboney and Tyson Owens say they've noticed higher coffee prices. The couple aren't about to give up their buzz, but they're buying different brands depending on what costs least among their top four preferred brands -- Starbucks, Dunkin' Donuts, Godiva and Seattle's Best.
"I'm a Starbucks fan, I swear by it," Eboney Owens, 32, said during a recent grocery trip in Portland, Ore.
However, if something else is on sale or has a coupon available, she'll switch.
"We won't go bottom of the barrel, though," Tyson Owens, 31, added.
Overall coffee crops increased 8 percent last year, according to the International Coffee Organization, helped by strong supplies from Ethiopia, the Ivory Coast and other countries. But this year, some major exporters, including Indonesia, are suffering from smaller crops because of drought, flooding or other inclement weather, which is affecting prices. The rise in coffee prices also has roots in the economic growth of China, where an upwardly mobile work force is fueling demand.
Unlike many other discretionary items, coffee usually emerges from a recession relatively unscathed, economists say. That's because when money is tight, people may buy cheaper brands of coffee, but they won't give it up completely. Americans consumed 21.7 million 60-kilogram bags of coffee in 2008, during the depths of the recession, up from 21 million the year before, according to the ICO. That's nearly 2.9 billion pounds of coffee.
Coffee is part of a bigger story about rising prices for household staples as diverse as food, clothing, diapers and batteries. Food prices soared 5.5 percent in 2008, then ticked up a slower 1.8 percent in 2009 and 0.8 percent in 2010 as meat and produce prices steadied. But in recent months oil and grain prices have soared, sending global food prices to their highest point in 20 years, according to the UN's Food and Agriculture Organization.
Labor Department data showed that food prices in the U.S. increased 0.8 percent in March, the largest monthly increase in nearly three years. The pace slowed to a 0.4 percent increase in April.
U.S. Department of Agriculture economist Ricky Volpe notes that food price inflation was much higher in the '70s, when year-over-year increases averaged 8.1 percent. While food price increases are far below that, more are expected. In the most recent quarter, 89 percent of consumer product makers tracked by FactSet said they have raised some prices or have plans to do so.
Sara Lee Corp., which sells Maison du Cafe, L'Or and Cafe Pilao, said this winter that rising green coffee costs led it to raise its prices. Kraft, which sells Maxwell House coffee, cited rising coffee prices in a broad price hike it levied this winter. Peet's Coffee and Tea Inc. has raised its retail prices twice recently in response to raw material costs.
Starbucks said Tuesday that it has been continually monitoring the costs of green coffee, fuel and other operational costs and has made price adjustments as needed. A one-pound bag of coffee currently goes for $9.95 to $13.95 in stores. After it puts the latest price changes in place, the price will jump to between $11.95 and $14.95 a pound.
Smucker said that its latest price increase includes Smucker's Millstone and Folgers Gourmet Selections packaged coffees. For the Dunkin' Donuts brand, the increase affects only packaged coffee sold in grocery, club, drug and general-merchandise stores. Items sold at Dunkin' Donuts shops are not Smucker products.
The company also raised coffee prices by 10 percent in February, 9 percent in August 2010 and 4 percent last May.
The cost increases haven't deterred Smucker from expanding its U.S. coffee portfolio. It announced last week that it purchased privately held Rowland Coffee Roasters Inc. for $360 million in cash. Rowland, based in Miami, sells Cafe Bustelo and Cafe Pilon, which are sold primarily in the Northeastern U.S. and South Florida and target Latino shoppers. Rowland is a leading producer of espresso coffee in the U.S.
Sarah Skidmore in Portland and Michelle Chapman in New York contributed to this report.
How much is the stock up?
A. 37 percent from a year earlier.
B. 87 percent from a year earlier.
C. 67 percent from a year earlier.
Whot did they purchase?
A. Rowland Coffee Roasters Inc
B. Coffee Bean
C. Starbucks
English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons.
ENGLISH LESSONS :
High gas prices are driving a wider wedge between the wealthy and everybody else.
The rich are back to pre-recession-style splurging: Saks Fifth Avenue and Nordstrom customers are treating themselves to luxury items like $5,000 Hermes handbags and $700 Jimmy Choo shoes, and they're paying full price.
At Target and Walmart, shoppers are concentrating on groceries and skipping even little luxuries. BJ's Wholesale Corp. said Wednesday that its customers are buying more hamburger and chicken and less steak and buying smaller packs to save money.
"The average shopper isn't in the game, except for necessities," said Faith Hope Consolo, chairman of retail leasing and marketing at Prudential Douglas Elliman. At the same time, among the rich, "Luxury products are selling like bread."
J.C. Penney, Wal-Mart and home-improvement retailer Lowe's Cos. all said they're noticing their customers are consolidating shopping trips to save money on gas as the average price hovers near $4 a gallon.
More than a half-dozen corporate earnings reports this week show that, for the affluent, rising prices are merely a nuisance. For others, they can mean scrimping to put food on the table.
1. Are the rich only buyinmg what they need?
A. TRUE.
B. FALSE.
2. What type of luxury items are the rich buying?
A. Hermes handbags.
B. Jimmy Choo shoes.
C. All of the above.
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Private debtholders, including euro zone banks, should accept a debt extension or other form of "soft default" to alleviate the debt burden for countries such as Greece if Europe wants a solution to the sovereign debt crisis, Bill Gross, Co-CIO of PIMCO told CNBC on Tuesday."We wouldn't go so far as to suggest that Greece or any other country leave the euro," Gross said. "What I think needs to be done....is for private debtholders and Euroland banks...to take a debt extension or some kind of soft default that alleviates the burden for these countries."
Gross admitted it was difficult to suggest that countries such as Germany, which have been more forthright and fiscally conservative, should help peripheral nations."But if they want a consolidated solution, that's really the way to go," he said.
"Countries like Greece and Ireland are subject to the euro currency and can't lower their high debt to GDP ratio by offering interest rates in the low to negative range such that a country can pay for its debt by real growth," Gross said.
That might have provided a solution, he said. "It's a rather surreptitious and sneaky way to do it, but it's quite effective."
Despite concerns that European banks have taken on too much risk and will not be able to withstand future shocks to the economy, Gross believes they are an attractive investment.
"Lloyds [LLOY-LN 49.74 -1.13 (-2.22%)] and Royal Bank of Scotland [RBS-LN 40.44 -0.44 (-1.08%)]and Rabobank all have cocos (contingent convertible bonds) which provide yields of 300-400 basis points more than typical senior bank capital, and we think it's attractive. Admittedly there is a risk and if these banks move down to a certain equity as a percentage of capital level then the price has to be paid, but ultimately we think banks such as those are in the process of recapitalizing... and that going forward they will be much more careful in terms of riskiness," he said.
Bond investors needed to look for opportunities from the standpoint of currencies where real interest rates are high as opposed to low or negative, Gross said.
"We're looking currencies and bonds in those currencies which offer high real interest rates. Brazil does that at 6-7 percent real. Canada... basically offers a half to 1 percent higher real interest rate. Same thing for Mexico," he said.
Bill Gross, Co-CIO of PIMCO told CNBC on Tuesday."We wouldn't go so far as to suggest that Greece or any other country leave the euro," Gross said?
A. TRUE
B. FALSE
Despite concerns that European banks have taken on too much risk and will not be able to withstand future shocks to the economy, Gross believes they are an attractive investment?
A. TRUE
B. FALSE
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At a Berlin meeting on Friday German and French leaders appear to have come to a compromise that would ultimately lay the groundwork for the next round of emergency IMF loans to Greece. Prime Minister Papandreou shuffled his cabinet Friday appointing a new finance minister along the way. Two pieces of news drove currency trading on Friday with a former Fed official predicting a U.S. recession resulting from an inevitable Greek default, while the news conference in Berlin took precedence and sent the euro surging.
Euro Alan Greenspan talking on Bloombergs Charlie Rose show warned that a default by Greece was almost certain and as such would likely drag the U.S. economy into recession. His prediction, while likely accurate, has been diluted on Friday on account of the positive words flowing from Berlin. German Chancellor Merkel said shes willing to compromise on demands for bondholders to carry the burden and asks instead for purely a voluntary participation by private creditors. French leader Sarkozy said that such agreement requires the approval of the European Central Bank. Indeed the attitude of its President Trichet and company will be key here although investors have seized the opportunity to drive the single currency sharply higher. Earlier the unit slumped to $1.4127 before a moonshot lifted it to $1.4289. With the entire market watching and reacting to headlines, its important to understand that the end game for the ECB here is to avoid any situation under which any ratings agency would claim a default. The bid behind the euro following the Berlin conference is a market attempt to put words in the mouth of the central banks mouth.
U.S. Dollar Of course a surging euro is at this point positive for risk appetite and is surrounded at the end of a choppy week for trading by a reversal in stock indices from Europe to North America as investors hope for a longer-lasting resolution to the crisis. The dollar basket has slumped by 0.5% with the greenback taking slingshots left and right from every other major unit. Data due for release Friday may show a rebound for economic activity over the coming three-to-six months. The Conference Boards leading indicator for June should reverse last months dip as fears over supply bottlenecks resulting from the Japanese earthquake events unwind, while a welcome slide in fuel costs may also boost both sentiment and activity. A University of Michigan confidence index is expected to show little change in consumers mood.
British pound An attempt to match Thursdays weakest moment for the pound against the dollar just failed before rebounding European sentiment dragged the pound up by its shirttails. Attitude to the unit remained grim with investors remaining concerned over the vigor behind the British economic recovery. Just how resistant the central bank is to raising interest rates to tackle inflation running at twice its target pace was embodied in Governor Kings Mansion House speech earlier in the week. Tightening monetary policy would have meant a weaker recovery, or even further falls in output and a risk of inflation falling well below the target in the medium term. The pound bounced from its session floor at $1.6093 to a high at $1.6194.
Aussie dollar The Aussie was perhaps the biggest beneficiary of the rebound in confidence Friday turning from a session low against the dollar at $1.0506 to $1.0635. The unit was subject to losses after the Greenspan view further dampened risk appetite and invited a test of Thursdays lows. Like the pound, the Aussie remained above its weekly lows and remains buoyant as evidence of short-covering continues to offer support.
Japanese yen The rise in risk appetite has taken the shine off the dollar and cast the spotlight back on the yen, which rallied from ¥80.65 to ¥80.25 against the dollar as European tensions eased. There was also more concern for the health of the domestic economy with May store sales declining 2.4% on a year-over-year basis indicating a further weakening in consumer confidence. Rising economic tensions maintain the spotlight on a rising yen as investors look to the government to find ways to further tackle an already challenging economy. The political straightjacket ensures that the yen is bound to maintain a positive bias when economic bellwethers sound glum.
Canadian dollar The turnaround for risk appetite reversed an intraday loss for the Canadian dollar as it traded losses for gains against the dollar by rising to $1.0207. Thats more than a penny above Thursdays panic-driven low for the week at $1.0101 U.S. cents. Later this morning the latest piece of the jigsaw for the Canadian economy will be released and is expected to show a dip in wholesale manufacturing sales of 0.3%.
Did the Prime Minister Papandreou shuffled his cabinet Friday appointing a new finance minister along the way?
A. TRUE
B. FALSE
The turnaround for risk appetite reversed an intraday loss for the Canadian dollar as it traded losses for gains against the dollar by rising to $1.0207?
A. TRUE
B. FALSE
4 Free Worksheets
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2. Business English conversation Lesson# 1
3. Business English conversation Lesson# 2
4. American Job Interview
The teaching method employed is based on the philosophy that for the students to speak English well they must be able to recognize and produce the tones of the language accurately. English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons
order to accomplish this, a method of FOCUSED PRACTICE is used. Practical vocabulary and grammar patterns are introduced and drilled before students are ask to engage in short or long conversations.
A large percentage of the class is spent having the teach model sounds, patterns and sentences and the students practising drills.
Within each lesson, dialogues are practised to help students communicate outside the classroom.Our American English language courses consist of two levels. They are recommended for those with a serious interest in learning to understand speak, read and write English. Students are encouraged to devote one to two additional private hours a day to the study of the English language.
Our classes are taught by qualified and experienced native speaking English instructors. Classes are small (size ranges from 1 to 4 ) to allow maximum participation .English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons
Our English Language courses consist of two levels.
They are recommended for those with a serious interest in learning to understand speak, read and write English.
Students are encouraged to devote one to two additional private hours per day to the study of the language..
English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons
kype classes are taught by qualified and experienced native-speaking English instructors. Skype classes are small (size ranges from 1 to 4) to allow maximum participation.
In class, students practice speaking the English Language in a controlled setting. As a student you will be expected to actively participate in the learning process, not only between yourself and the teacher but also between fellow students. The use of grammar patterns are presented and repeated to ensure proper pronunciation. Dialogues are also practised to increase fluency.
AMERICAN ENGLISH CONVERSATION
Free Amercian English Conversation course. This course is aimed at giving you a good foundation of spoken English language.Special emphasis is placed upon good American English tone production, while using and recognizing basic vocabulary and sentence patterns. Short dialogues and class activities are practised to enhance fluency and accuracy when talking. After completing the Free American English Conversation course, you should be able to recognize and respond appropriately to high frequency and expressions about familiar American English topics.
DIRECTIONS: Read the following and answer the questions?
The Associated Press reported from Moscow Friday that an expected deal between Russia and China to supply around 60 billion cubic meters of natural gas to China has stalled. The two could not agree on price.
Past energy negotiations between China and Russia often have snagged on disagreements over prices, loan terms and other issues, including Beijings desire for equity stakes in Russian resources. Like Chinas own state-run companies, Russia balks at ceding any control over what it views as strategically vital assets, the AP reported.
In a Financial Industry Regulatory Authority (FINRA) Arbitration Statement of Claim filed in September 2009, Claimant Merrill Lynch asserted breach of promissory note and unjust enrichment causes of action arising from Respondent Aquinos alleged failure to pay the balance due and owing on a Promissory Note executed on or about April 22, 2008 (the Promissory Note). Claimant Merrill Lynch sought
* $969,870.41 in compensatory damages for the outstanding principal of the Note;
* interest from September 21, 2009 through such date as the principal and Interest are fully paid, accumulating at a rate of $132.86 per day;
* attorneys fees;
* costs; and,
* any additional relief the Panel deemed just and appropriate.
By the close of the arbitration hearing, Claimant had further clarified various damages as $80,911.74 in interest through July 16, 2010 ; $419,501.26 in attorneys fees , and, $32,605.83 in costs. In the Matter of the FINRA Arbitration Between Merrill Lynch, Pierce, Fenner & Smith, Incorporated, Claimant, vs. Angel E. Aquino, Respondent (FINRA Arbitration 09-05587, June 14, 2011. Hearing Site: San Juan, Puerto Rico)
Respondent generally denied the allegations, asserted various affirmative defenses. Respondent filed a Counterclaim asserting breach of contract and termination without cause, and he requested:
* $1,000,000 for the loss of Monthly Transition Compensation
* $200,000 for the loss of Revenue Performance Bonus damages
* $200,000 for the loss of Up Front Contingent Award
* $100,000 per month for the loss of commissions
* $2,000,000 for the loss of negotiating an advance against future commissions with another firm
* $50,000,000 in damages for the present value of commissions that would have been generated over Respondents lifetime
* $4,000,000 for physical and mental pain
* $100,000,000 in punitive damages
* $50,000,000 in good will damages
* $7,500,000.00 representing five times his average yearly earnings
* five percent of the value of securities sold by Respondent during his tenure at Merrill Lynch
* expungement of his Form U-5
* attorneys fees
* costs
* any other relief the Panel deemed just and appropriate
At the close of the hearing, Respondent requested compensatory damages in the sum of $13,290,232.26.
SIDE BAR: I dont know about you but I love the sound of a $50 million and $13 million claim. It just has a lovely ring to it. Also, this is setting up as one of those cases where you get a bucket of popcorn (dont tell my wife that I drenched it in butter), lay down on the couch, and prepare to watch a Heavyweight World Championship fight. I mean, cmon, this is going to be a slugfest. And dont forget that Merrill Lynch started this with its $1 million-plus claim.
Now You See It
This case involved a number of Motions, among which was Respondents Motion for Visual Inspection,which,among other things, requested that the FINRA Arbitration Panel order that a visual inspection of Respondents former office be performed by the Panel to determine the visual and audial [stet] perception of witnesses to an event at issue, involving Respondent and his superior. The Arbitration Panel granted the Motion and conducted the requested inspection with legal counsel for both parties present.
SIDE BAR: Frankly, kudos to Respondents legal counsel. A very clever move and something that more lawyers should demand. I have no knowledge of what the issue was here (not explained in the FINRA Decision) or what was in dispute in terms of the proximity of various parties, but from my years of practice I know that sometimes theres just no substitute for being there, standing there, and looking around.
Sometimes a witness swears that he saw everything from his office or she heard it all from her desk, but all the diagrams in the world just dont demonstrate how unlikely those claims are. Get a jury or panel to stand in the office and see that the executives desk was way around the corner and behind a pillar or that the overheard conversation took place within a highly-walled cubicle amidst the hub-bub of a noisy trading floor, and that physical proof can be compelling.
Oops
Respondent filed a Motion for Protective Order against Claimant (related to Respondents wife) in which he asserted, among other things, that his wife received an unwarranted call from Claimants representatives; and that Claimants breach of Respondents and his wifes private life and sanctuary was unjustifiable.
Claimant asserted, among other things, that no attorney or employee of Claimants counsels firm made the alleged call; and, Respondents wife had been identified as a potential witness on Claimants witness list since June 23, 2010, to which Respondent had never objected. Respondent countered that his wife had never been identified as a witness on the witness list filed by Claimant.
Thereafter, Claimant admitted that it had inadvertently misstated that Respondents wife was listed as a potential witness on its witness list. The Panel granted the Motion.
SIDE BAR: Ouch!
DECISION
The FINRA Arbitration Panel found Respondent Aquino not liable and denied Claimant Merrill Lynchs claims with prejudice.
However, the Arbitration Panel was not done. Not by a long shot.
The Panel found Claimant Merrill Lynch liable for the defamatory nature of information placed on Respondent Aquinos CRD record and ordered the firm to pay to Respondent compensatory damages in the amount of $1,546,247.00 (prejudgment interest specifically excluded); and $600.00 representing reimbursement of the non-refundable portion of the Counterclaim filing fee previously paid by Respondent to FINRA Dispute Resolution. The Panel denied punitive damages and any award for emotional distress.
Expungement
Based upon a finding of defamation, the FINRA Arbitration Panel recommended the expungement of the Termination Comment in Section 3 of Respondents Form U5. The Panel recommends the expungement of the following language:
Mr. Aquinos employment was tenninated on September 21. 2009 for failure to adhere to the firms policies and standards regarding employee conduct This matter did not involve customer accounts
The Panel recommended the following replacement explanation:
Mr. Aquino was terminated not for cause.
The Panel retained as unchanged Discharged as the Reason for Termination.
In this case involved a number of Motions, among which was Respondents Motion for Visual Inspection,which,among other things, requested that the FINRA Arbitration Panel order that a visual?
A. TRUE
B. FALSE
Did the FINRA Arbitration Panel found Respondent Aquino not liable and denied Claimant Merrill Lynchs claims with prejudice?
A. TRUE
B. FALSE
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In case you haven't noticed, there's a lot of uncertainty in the market right now. Along with the European financial crisis, the budget battle and political posturing surrounding the 2012 election, uncertainty over Fed policy is driving a lot of rethinking about where to invest.
The biggest immediate concern is what will happen in debt markets once the Federal Reserve stops buying long-term Treasurys. Its "quantitative easing" program has kept long-term rates low, so in theory those rates should rise beginning in July after the Fed ceases its second wave of security purchases. Conflicting schools of thought see this playing out differently. Many believe that the Fed will continue to intervene to keep long-term rates low.
Forget about ever seeing short-term rates normalize in your lifetime. Since most of the $14 trillion national debt is financed in this market, every one-percentage-point rise in short-term rates would add $140 billion to the deficit. Imagine what three points would do. Expect the Fed to keep using the unemployment rate as its excuse for not raising rates even in the face of rising inflation.
My income investment strategy has been to diversify over a variety of income drivers so that no single adverse economic event can destroy the overall performance of a portfolio. This approach has worked well over the last two years because all sectors have benefited from a recovery from the financial crisis and the concurrent recession. Looking forward it seems clear, however, that some sectors face greater uncertainty than others. Some of this is due to recent run-ups in prices and some to a lack of predictable direction. Also, we cannot underestimate the emotional factors that often lead to perceptions trumping reality.
My most confident allocation is in adjustable-rate debt securities. These securities will benefit from a rise in interest rates, but they require a sacrifice of one to two percentage points in current yield. Since I expect rates to rise before year-end that is a small concession, especially if the security is trading below its par value.
Look for securities tied to the headline Consumer Price Index rather than the core CPI, which lags the true inflation rate by a significant amount when commodities like oil and foods are moving higher. One is Prudential Financial ( PRU - news - people ) (PFK, 27), which pays CPI plus 240 basis points. It currently yields 4.6%. A fund alternative is the Nuveen Tax-Advantaged Floating Rate Fund ( JFP - news - people ) (JFP, 2.5), which yields 5.9%. Note that Treasury Inflation-Protected Securities (TIPS) are not the best choice here, but if you like them, buy the iShares Barclays ( BCS - news - people ) TIPS ETF (TIP, 110) for its more favorable tax treatment. Allocate 30% of your portfolio to adjustable-rate securities.
The second area, where I recommend a 20% allocation, is energy, specifically oil. Yes, the big-appreciation gains are probably over, but the income payouts are still high and will likely rise. Look to buy Canadian oil and gas producers for your tax-sheltered account, as they are not subject to the 15% Canadian withholding tax. My choice here is Penn West Petroleum (PWE, 25), paying 4.4%. Buy master limited partnerships like Plains All American Pipeline ( PAA - news - people ) (PAA, 61), paying 6.3% for taxable accounts to obtain a high tax-deferred payout that can grow.
I'm allocating another 15% to stockmarket-linked securities. These include convertible securities like Wells Fargo ( WFC - news - people )'s 7.5% convertible preferred (WFC-L, 1,079), as well as closed-end funds that invest in stocks and use call option writing to enhance the yield. Look at Eaton Vance Tax-Managed Buy-Write Opportunities Fund ( ETV - news - people ) (ETV, 13), yielding a tax-advantaged 10%.
This final 35% of the portfolio should be in a combination of cash and gold. By holding cash you avoid having to make a sell decision, which can cloud the buy decision when an opportunity comes. Gold should be up to 10% of this total, using an ETF that holds bullion, such as SPDR Gold Trust (GLD, 149) or iShares Gold Trust (IAU, 15). Other commodity-based ETFs are available, but I prefer gold for its broader audience of buyers, more limited supply and longer history as a vehicle for wealth preservation.
In order to raise cash from your existing holdings, look to take some profits by reducing positions that have done well for you as well as by reducing your fixed-rate debt exposure. Then again, you could just raid your equities portfolio.
A reshuffling of Greece Prime Minister George Papandreous cabinet and a call for rapid action from the leaders of France and Germany gave the euro a lift Friday, and in turn Wall Street.
Former Greek defense minister Evangelos Venizelos will take over as finance minister from Giorgos Papakonstantinou, the author of the wildly unpopular, albeit necessary, austerity programs, who is begin reassigned to an environmental post.
The move comes as some of the EUs stronger core countries push for a resolution to Greeces fiscal mess. French President Nicolas Sarkozy and German Prime Minister Angela Merkel showed a united front on the need for a deal in the next few weeks, but offered few details of when and how such a deal will get done or who will pay for it.
To date, Germany has demanded that any Greek rescue come with the participation of private bondholders, who would have to take haircuts on their investment, as opposed to the French position of paying creditors 100 cents on the dollar. The opposing perspectives may be a reflection of the exposure within the French and German banking systems to Greek debt. Just this week, Moodys said it was placing the ratings of a trio of French banks BNP Paribas, Credit Agricole, and Societe Generale under review. (See Greek Clouds Over French Banks.)
While there is still a tough row to hoe, the more encouraging signals around the debt situation helped bolster the euro, which rallied to $1.4277. The 17-nation currency has been surprisingly strong against the dollar in the face of a Greek default, something that seems incongruous and would likely reverse sharply if the delicate deal talks collapse again.
European stocks made moderate gains Friday, and U.S. stocks were moving sharply higher at the open as the major indexes try to avoid a seventh-straight down week. On Thursday investors showed a taste for Americas biggest companies, with the Dow Jones industrial average comfortably outperforming the S&P 500 and the Nasdaq the latter actually finished in the red.
Among stocks in the news, Research In Motion bears watching after getting crushed in after-hours trading following a disappointing earnings report that missed revenue forecasts and offered a bleak outlook. Shares of the BlackBerry-maker were down more than 16% pre-market. (See Research In Motions Q1 A Win For The Bears.)
BJs Wholesale Club moved up 3.5% before the bell on word that private equity firms Leonard Green & Partners and CVC Capital Partners had teamed up on a buyout offer for the retailer. The news, which came in an SEC filing, did not include the financial terms of the deal, which has been rumored seemingly since Leonard Green disclosed a 9.5% stake in BJs last year.
Did income investment strategy has been to diversify over a variety of income drivers so that no single adverse economic event can destroy the overall performance of a portfolio did this approach has worked well?
A. TRUE
B. FALSE
Did the move up 3.5% before the bell on word that private equity firms Leonard Green & Partners and CVC Capital Partners had teamed up on a buyout offer for the retailer?
A. TRUE
B. FALSE
ENGLISH LESSONS
DIRECTION: Read the following and answer the questions?
The battle for the top job at the International Monetary Fund kicked into high gear Thursday, with Europeans staking their claim for the post as the continent grapples with economic problems and Asian and emerging nations arguing now is their time to lead the international institution.
World Bank President Robert Zoellick said global leaders have started the formal process to replace Dominique Strauss-Kahn, who early Thursday resigned following his weekend arrest on sexual-assault charges.
"There's a process that the countries will use, and the shareholders and you can see it starting to form now," Mr. Zoellick said after speaking at the Bretton Woods Committee annual conference in Washington. "It's up to the shareholders to decide the next process that they take in leadership and I'm sure they'll pick a very fine person
Asked whether the process would live up to promise by global leaders for a more transparent, merit-based process, Mr. Zoellick said, "I'm sure it will be."
The Group of 20 industrialized nations has promised to change the leadership selection process at both the IMF and World Bank, suggesting a move away from the automatic appointment of a European to the IMF and an American to the World Bank.
Mr. Zoellick spoke as European governments coalesced around Christine Lagarde, a corporate lawyer who has been France's finance minister since 2007 and who has emerged as the frontrunner for the IMF job in the days since Mr. Strauss-Kahn's arrest in New York.
1. Who is the world bank President?
A. Robert Zoellick.
B. Christine Lagarde
C. John Lake.
2. What does the IMF stand for?
A. International Money Fund.
B. International Music Foundation.
C. International Monetary Fund.
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NEW YORK (AP) -- People are paying more to fuel up these days -- on coffee.
Coffee price increases have outpaced even the hike in gasoline prices the past year. A one-pound can of ground coffee sold for $5.10 in April, up 40 percent from $3.64 the year before, according to the Department of Labor. By comparison, a gallon of regular gasoline cost $3.83 on average on Tuesday, up 37 percent from a year earlier.
And while fuel prices are expected to stabilize, coffee increases could continue for some time because the prices that coffee companies pay for unroasted beans are still climbing -- fast. Coffee futures were trading for $2.61 per pound Tuesday, roughly double a year earlier.
J.M. Smucker Co., the maker of grocery store stalwart Folgers and of packaged varieties of Dunkin' Donuts coffee, said Tuesday that it is raising prices of most of its U.S. coffee products by 11 percent, its fourth increase in a year. Kraft Foods Inc., Peet's Coffee and Tea Inc. and Green Mountain Coffee Roasters Inc. have also recently hiked their prices for coffee.
Starbucks Corp. also said Tuesday that it will raise prices on packaged coffee in its stores by an average of 17 percent in the U.S. and 6 percent in Canada. That follows a 4 percent increase in 2009. The company also raised prices in March for its packaged coffee sold in grocery stores and at other retailers.
But the drink remains essential to many.
Eboney and Tyson Owens say they've noticed higher coffee prices. The couple aren't about to give up their buzz, but they're buying different brands depending on what costs least among their top four preferred brands -- Starbucks, Dunkin' Donuts, Godiva and Seattle's Best.
"I'm a Starbucks fan, I swear by it," Eboney Owens, 32, said during a recent grocery trip in Portland, Ore.
However, if something else is on sale or has a coupon available, she'll switch.
"We won't go bottom of the barrel, though," Tyson Owens, 31, added.
Overall coffee crops increased 8 percent last year, according to the International Coffee Organization, helped by strong supplies from Ethiopia, the Ivory Coast and other countries. But this year, some major exporters, including Indonesia, are suffering from smaller crops because of drought, flooding or other inclement weather, which is affecting prices. The rise in coffee prices also has roots in the economic growth of China, where an upwardly mobile work force is fueling demand.
Unlike many other discretionary items, coffee usually emerges from a recession relatively unscathed, economists say. That's because when money is tight, people may buy cheaper brands of coffee, but they won't give it up completely. Americans consumed 21.7 million 60-kilogram bags of coffee in 2008, during the depths of the recession, up from 21 million the year before, according to the ICO. That's nearly 2.9 billion pounds of coffee.
Coffee is part of a bigger story about rising prices for household staples as diverse as food, clothing, diapers and batteries. Food prices soared 5.5 percent in 2008, then ticked up a slower 1.8 percent in 2009 and 0.8 percent in 2010 as meat and produce prices steadied. But in recent months oil and grain prices have soared, sending global food prices to their highest point in 20 years, according to the UN's Food and Agriculture Organization.
Labor Department data showed that food prices in the U.S. increased 0.8 percent in March, the largest monthly increase in nearly three years. The pace slowed to a 0.4 percent increase in April.
U.S. Department of Agriculture economist Ricky Volpe notes that food price inflation was much higher in the '70s, when year-over-year increases averaged 8.1 percent. While food price increases are far below that, more are expected. In the most recent quarter, 89 percent of consumer product makers tracked by FactSet said they have raised some prices or have plans to do so.
Sara Lee Corp., which sells Maison du Cafe, L'Or and Cafe Pilao, said this winter that rising green coffee costs led it to raise its prices. Kraft, which sells Maxwell House coffee, cited rising coffee prices in a broad price hike it levied this winter. Peet's Coffee and Tea Inc. has raised its retail prices twice recently in response to raw material costs.
Starbucks said Tuesday that it has been continually monitoring the costs of green coffee, fuel and other operational costs and has made price adjustments as needed. A one-pound bag of coffee currently goes for $9.95 to $13.95 in stores. After it puts the latest price changes in place, the price will jump to between $11.95 and $14.95 a pound.
Smucker said that its latest price increase includes Smucker's Millstone and Folgers Gourmet Selections packaged coffees. For the Dunkin' Donuts brand, the increase affects only packaged coffee sold in grocery, club, drug and general-merchandise stores. Items sold at Dunkin' Donuts shops are not Smucker products.
The company also raised coffee prices by 10 percent in February, 9 percent in August 2010 and 4 percent last May.
The cost increases haven't deterred Smucker from expanding its U.S. coffee portfolio. It announced last week that it purchased privately held Rowland Coffee Roasters Inc. for $360 million in cash. Rowland, based in Miami, sells Cafe Bustelo and Cafe Pilon, which are sold primarily in the Northeastern U.S. and South Florida and target Latino shoppers. Rowland is a leading producer of espresso coffee in the U.S.
Sarah Skidmore in Portland and Michelle Chapman in New York contributed to this report.
How much is the stock up?
A. 37 percent from a year earlier.
B. 87 percent from a year earlier.
C. 67 percent from a year earlier.
Whot did they purchase?
A. Rowland Coffee Roasters Inc
B. Coffee Bean
C. Starbucks
English Lesson to help and instruct with English conversation. English lesson are concentrated around our student individual needs. English lesson will help you improve your spoken English. Our English Lessons can help you achieve a great knowledge of the English language. With our English lessons you will see your self improve greatly. English Lessons, English Lessons.
ENGLISH LESSONS :
High gas prices are driving a wider wedge between the wealthy and everybody else.
The rich are back to pre-recession-style splurging: Saks Fifth Avenue and Nordstrom customers are treating themselves to luxury items like $5,000 Hermes handbags and $700 Jimmy Choo shoes, and they're paying full price.
At Target and Walmart, shoppers are concentrating on groceries and skipping even little luxuries. BJ's Wholesale Corp. said Wednesday that its customers are buying more hamburger and chicken and less steak and buying smaller packs to save money.
"The average shopper isn't in the game, except for necessities," said Faith Hope Consolo, chairman of retail leasing and marketing at Prudential Douglas Elliman. At the same time, among the rich, "Luxury products are selling like bread."
J.C. Penney, Wal-Mart and home-improvement retailer Lowe's Cos. all said they're noticing their customers are consolidating shopping trips to save money on gas as the average price hovers near $4 a gallon.
More than a half-dozen corporate earnings reports this week show that, for the affluent, rising prices are merely a nuisance. For others, they can mean scrimping to put food on the table.
1. Are the rich only buyinmg what they need?
A. TRUE.
B. FALSE.
2. What type of luxury items are the rich buying?
A. Hermes handbags.
B. Jimmy Choo shoes.
C. All of the above.
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Private debtholders, including euro zone banks, should accept a debt extension or other form of "soft default" to alleviate the debt burden for countries such as Greece if Europe wants a solution to the sovereign debt crisis, Bill Gross, Co-CIO of PIMCO told CNBC on Tuesday."We wouldn't go so far as to suggest that Greece or any other country leave the euro," Gross said. "What I think needs to be done....is for private debtholders and Euroland banks...to take a debt extension or some kind of soft default that alleviates the burden for these countries."
Gross admitted it was difficult to suggest that countries such as Germany, which have been more forthright and fiscally conservative, should help peripheral nations."But if they want a consolidated solution, that's really the way to go," he said.
"Countries like Greece and Ireland are subject to the euro currency and can't lower their high debt to GDP ratio by offering interest rates in the low to negative range such that a country can pay for its debt by real growth," Gross said.
That might have provided a solution, he said. "It's a rather surreptitious and sneaky way to do it, but it's quite effective."
Despite concerns that European banks have taken on too much risk and will not be able to withstand future shocks to the economy, Gross believes they are an attractive investment.
"Lloyds [LLOY-LN 49.74 -1.13 (-2.22%)] and Royal Bank of Scotland [RBS-LN 40.44 -0.44 (-1.08%)]and Rabobank all have cocos (contingent convertible bonds) which provide yields of 300-400 basis points more than typical senior bank capital, and we think it's attractive. Admittedly there is a risk and if these banks move down to a certain equity as a percentage of capital level then the price has to be paid, but ultimately we think banks such as those are in the process of recapitalizing... and that going forward they will be much more careful in terms of riskiness," he said.
Bond investors needed to look for opportunities from the standpoint of currencies where real interest rates are high as opposed to low or negative, Gross said.
"We're looking currencies and bonds in those currencies which offer high real interest rates. Brazil does that at 6-7 percent real. Canada... basically offers a half to 1 percent higher real interest rate. Same thing for Mexico," he said.
Bill Gross, Co-CIO of PIMCO told CNBC on Tuesday."We wouldn't go so far as to suggest that Greece or any other country leave the euro," Gross said?
A. TRUE
B. FALSE
Despite concerns that European banks have taken on too much risk and will not be able to withstand future shocks to the economy, Gross believes they are an attractive investment?
A. TRUE
B. FALSE
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At a Berlin meeting on Friday German and French leaders appear to have come to a compromise that would ultimately lay the groundwork for the next round of emergency IMF loans to Greece. Prime Minister Papandreou shuffled his cabinet Friday appointing a new finance minister along the way. Two pieces of news drove currency trading on Friday with a former Fed official predicting a U.S. recession resulting from an inevitable Greek default, while the news conference in Berlin took precedence and sent the euro surging.
Euro Alan Greenspan talking on Bloombergs Charlie Rose show warned that a default by Greece was almost certain and as such would likely drag the U.S. economy into recession. His prediction, while likely accurate, has been diluted on Friday on account of the positive words flowing from Berlin. German Chancellor Merkel said shes willing to compromise on demands for bondholders to carry the burden and asks instead for purely a voluntary participation by private creditors. French leader Sarkozy said that such agreement requires the approval of the European Central Bank. Indeed the attitude of its President Trichet and company will be key here although investors have seized the opportunity to drive the single currency sharply higher. Earlier the unit slumped to $1.4127 before a moonshot lifted it to $1.4289. With the entire market watching and reacting to headlines, its important to understand that the end game for the ECB here is to avoid any situation under which any ratings agency would claim a default. The bid behind the euro following the Berlin conference is a market attempt to put words in the mouth of the central banks mouth.
U.S. Dollar Of course a surging euro is at this point positive for risk appetite and is surrounded at the end of a choppy week for trading by a reversal in stock indices from Europe to North America as investors hope for a longer-lasting resolution to the crisis. The dollar basket has slumped by 0.5% with the greenback taking slingshots left and right from every other major unit. Data due for release Friday may show a rebound for economic activity over the coming three-to-six months. The Conference Boards leading indicator for June should reverse last months dip as fears over supply bottlenecks resulting from the Japanese earthquake events unwind, while a welcome slide in fuel costs may also boost both sentiment and activity. A University of Michigan confidence index is expected to show little change in consumers mood.
British pound An attempt to match Thursdays weakest moment for the pound against the dollar just failed before rebounding European sentiment dragged the pound up by its shirttails. Attitude to the unit remained grim with investors remaining concerned over the vigor behind the British economic recovery. Just how resistant the central bank is to raising interest rates to tackle inflation running at twice its target pace was embodied in Governor Kings Mansion House speech earlier in the week. Tightening monetary policy would have meant a weaker recovery, or even further falls in output and a risk of inflation falling well below the target in the medium term. The pound bounced from its session floor at $1.6093 to a high at $1.6194.
Aussie dollar The Aussie was perhaps the biggest beneficiary of the rebound in confidence Friday turning from a session low against the dollar at $1.0506 to $1.0635. The unit was subject to losses after the Greenspan view further dampened risk appetite and invited a test of Thursdays lows. Like the pound, the Aussie remained above its weekly lows and remains buoyant as evidence of short-covering continues to offer support.
Japanese yen The rise in risk appetite has taken the shine off the dollar and cast the spotlight back on the yen, which rallied from ¥80.65 to ¥80.25 against the dollar as European tensions eased. There was also more concern for the health of the domestic economy with May store sales declining 2.4% on a year-over-year basis indicating a further weakening in consumer confidence. Rising economic tensions maintain the spotlight on a rising yen as investors look to the government to find ways to further tackle an already challenging economy. The political straightjacket ensures that the yen is bound to maintain a positive bias when economic bellwethers sound glum.
Canadian dollar The turnaround for risk appetite reversed an intraday loss for the Canadian dollar as it traded losses for gains against the dollar by rising to $1.0207. Thats more than a penny above Thursdays panic-driven low for the week at $1.0101 U.S. cents. Later this morning the latest piece of the jigsaw for the Canadian economy will be released and is expected to show a dip in wholesale manufacturing sales of 0.3%.
Did the Prime Minister Papandreou shuffled his cabinet Friday appointing a new finance minister along the way?
A. TRUE
B. FALSE
The turnaround for risk appetite reversed an intraday loss for the Canadian dollar as it traded losses for gains against the dollar by rising to $1.0207?
A. TRUE
B. FALSE
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