what are these called

educational leave

special leave given to employees who want to undertake a course of study

migrant worker

a worker who moves from place to place looking for a job

retail banking

mass-maker banking where individual customers use local branches of larger commercial banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth

start-up capital

the amount of money invested in a business by the owner or owners at the beginning of operations

headhunter

specialist consultant who searches for high-level, often board-level, executives and tries to persuade them to leave their current job

home banking

doing banking transactions by telephone or from one’s PC, linked to the bank via a network

mutual funds

type of investment that takes money from many investors and uses it to make investments based on a stated investment objective

job freeze

an act of stopping the recruitment of staff in an organization

bridging loan

money borrowed for a short time, to cover the period between one thing and selling another

job cuts

reductions in the number of jobs

flipping

the act of buying shares in an IPO and selling them immediately for a profit

Generally Accepted Auditing Standards

GAAS

leveraged buyout

LBO

total quality management

TQM

Securities and Exchange Commission

SEC

natural wastage

to reduce the workforce by not replacing those who leave the company

unearned income

money delivered from sources other than employment, such as interest or dividends from investments

glass ceiling

an unacknowledged barrier to advanced in a profession, especially affecting women and member of minorities

outplacement

when a company helps people it is making redundant find new jobs in other organisations

redundancy package

various benefits and payments given to a worker who is being made redundant

homeworker

a person who works at home for a company

e-cruiting

using internet technology to hire people faster and at a lower cost

to reshuffle

to change members of staff, especially top managements

headhunter

a person or company whose job is to find suitable top managers to fill jobs in companies

principal

the amount of of money owed upon which interest is charged

calculated risk

an action that may fail but has a good chance to succeed

risk capital

money invested in a relatively high-risk opportunity

fringe benefits (perks)

non-monetary compensations provided to employees in addition to their normal wages or salaries

predatory lending

imposing unfair, deceptive and abusive loan terms on borrowers

parental leave

an employee benefit that provides paid or unpaid time off work to care for child

corruption

dishonest, illegal or immoral behaviour especially from someone with power

grace period

a formally specified extension of time beyond a payment due date

over-the-counter market (OTC)

a market for securities made up of dealers who may or may not be members of a formal securities exchange

secured loan

a loan backed up with collateral

market rigging

stopping a financial market functioning as it should in order to gain an advantage, for example, by a group of investors fixing the price of something illegally

annual percentage rate (APR)

it measures the cost of credit expressed as a yearly interest rate

leveraged buyout (LBO)

buying a company using a loan borrowed against the assets of the company that is being bought

price gouging

artificially inflating prices on necessities after e.g. a natural disaster

freelancer

a self-employed worker

hard loan

a loan from one country to another made on condition that it is repaid in the lender’s currency

tariff rates

the amount of money that must be paid above the cost of an imported or exported good from one country to another

trade unions (labor unions)

organisations designed to protect the interests of workers

SWIFT (Society for Worldwide Interbank Financial Telecommunication)

an electronic system used by international banks to make payments and send electronic massages

CIF (Cost, Insurance, and Freight)

the same as C&F except that the seller has to arrange and pay for marine insurance for any risk during transit to the name port of destination

plain vanilla

a basic banking product with no-frills

human capital

the perceived value of people and their skills

infant industry

a new industry which in its early stages is unable to compete with established competitors abroad

frozen asset

type of toxic asset whose market has ceased to function

management buyout (MBO)

when a company’s top executives buy the company them work for

commission

a fee paid to an agent for negotiating a sale, based on a percentage of the sale price