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Business Words in the News
Friday 22 February 2002
Vocabulary from the business news. Listen to and read the report then find explanations of difficult words below.

  Malaysian skyline
US pension fund
Summary: Has the biggest pension fund in the United States decided to put ethics before profit? The firm Calpers has announced it’s selling off its assets in parts of Asia citing social reasons. Calpers spokesman Brad Pacheco elaborates:
   
The News Listen  
  What we’ve done is we’ve done a review of our emerging markets and our board of administration made two decisions. The emerging markets are relatively risky and volatile countries and historically we have always managed the money there passively which means you have less control and your are putting it in the markets and just leaving it there.

Our primary goal here is to make sure that the money that we manage on behalf of our pensioneers is safe and secure. We have always looked at emerging markets on broad market factors like transaction costs and settlement things but we need to also expand that onto other risky factors like political stability and transparency. Those are important things to make sure that the companies we invest in live to.

 
   
The Words Listen
 
  a review
an examination of something with a view to change it

 
   
  emerging markets
commercial opportunities coming into existence

 
   
  risky
dangerous, likely to fail

 
   
  volatile
changeable

 
   
  primary goal
the most important thing someone wishes to achieve

 
   
  pensioneers
somebody who pays money into a pension fund

 
   
  transaction
a business deal, usually involving buying or selling something

 
   
  political stability
government that is unlikely to make any sudden changes or end abruptly

 
   
  transparency
something easily understood and recognised

 
   
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