5.Is this the first major sale by a German utility of its oil assets?
6.When did Royal Dutch Shell buy RWE&aposs German oil interests?
7.Who is E. on&aposs main rival?
Step Two Complete the following blanks with the exact words from the news.
1.The____ swap deal， worth about five and a half billion dollars, will make ____BP Germany&aposs largest petrol____.
2.BP will buy just over____of E. on&aposs Veba business, which includes Aral, Germany&aposs largest chain of____. In return, E. on, which was created last year by the____of energy groups Veba and Viag， will take a stake in Ruhrgas，the country&aposs____gas importer.
3.BP already owns around 1,000 petrol stations in Germany. Veba ____ more than 2,500 stations, ____ 18% of fuel sales in Germany, and employs almost 9，000 staff.
4.And if this was taken up, the group would be able to________by about $ 200 million a year.
News Item 4 Interest Rate and World Economy
Vocabulary：
1.falter v. to be unsteady in purpose or action, as from loss of courage or confidence ； waver 膽怯；動搖
2.ease v. to give respite from 延緩；放鬆 to slacken the strain, pressure, or tension of； loosen鬆弛；鬆開
3.euphemism： n. the act or an example of substituting a mild, indirect, or vague term for one considered harsh, blunt, or offensive 委婉，委婉的說法
4.revival n. the condition of being revived 複蘇
5. assessment n. the act of assessing； appraisal 評估，估價 an amount assessed, as for taxation 被估定的金額，如稅額
Step One Listen to the news and decide whether they are true or false.
1.Within the last hour，the Bank of Japan has made its first cut in interest rates for almost two year.
2.Three banks have been hit by an increasing amount of bad loans.
3.GDP in Japan for the three months to September fell nine point six percent.
4.The Bank of Japan has downgraded its assessment of Japan&aposs faltering economy for a second month.
Step Two Complete the following blanks with the exact words from the news.
1.The key____is now down to 5. 75 percent. The Bank of England is____about the impact of the US____.
2.It&aposs the first ____ in UK rates since June 1999. The ____ follows last week&aposs____ cut in the United States and several rate cuts in____over the last few days.
3.The largest financial ____ company in the United States, ____, has reported a 13% increase in its second____operating profits.
4.The Bank of Japan has____its assessment of Japan&aposs____economy for a second month. This will fuel a____ that managing policy could be ____ in the coming months after the BOJ ____government calls to do so last week.
Notes：
1.Bank of Japan： 日本銀行。日本銀行是日本的中央銀行，成立於1882年。它的責任是 通過保證日本金融係統的穩定，為經濟的良性發展打好基礎。它的業務範圍包括發 行貨幣、代理國庫、實施金融政策等。
2.Citigroup： 美國花旗銀行。花旗集團是一家全球性金融服務公司。截至1996年12月 31日，集團在全世界擁有89400名雇員，在98個國家和地區約3200個網點為個人、 企業、政府及金融機構提供各類金融服務。花旗集團是一家美國銀行控股公司，1967 年根據特拉華州法律組成，現為其主要分支機構花旗銀行的惟一股東。花旗集團受 1956年《銀行控股公司法》約束，接受聯邦儲蓄局的檢查。花旗銀行是聯邦儲蓄的會 員行，接受貨幣審計局的管理和檢查。花旗集團的業務主要有兩大範圍：環球消費者 業務以及環球企業銀行業務。環球消費者業務為消費者提供全球性的、全麵的服務， 下設分行和電子銀行、信用卡及消費卡、以及私人銀行業務；環球企業銀行業務為各 公司、金融機構、政府以及全世界資本市場其他成員提供服務。
News Item 5 Euro： the Visible Symbol of EU
Jenny Scott, BBC News in Amsterdam
Vocabulary：
1.changeover n. a conversion to a different purpose or from one system to another, as in equipment or production techniques 大變更，改變目標或由一體係向另一體係的更換，
如設備或生產技術的更換
2.counterfeit v. to make a copy of, usually with the intent to defraud ； forge 贗造，偽造複製，通常目的是為了詐騙；偽製
3.mortgage n. a temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt 抵押
4.scenario n. an outline of the plot of a dramatic or literary work 情節，梗概
Step One Try to answer the following questions in your own words as clearly as possible.
1.What will take the place of most European currencies?
2.How many countries will use this new currency?
3.Some countries will continue to use their own currencies. What are these countries mentioned in the text?
4.How many worth pounds of coins will be delivered to the Netherlands?
5.When would the Dutch see their new bank notes for the first time?
6.What will be the result if anything goes wrong in the delivery of the currency across the twelve countries in a matter of weeks?
Step Two Complete the following blanks with the exact words from the news.
1.In 40 days time, shoppers in this Amsterdam ____ will be using a ____ new currency. And here they are, ____up in a vast warehouse just north of Amsterdam.
2.There are enough euro ____ in this ____ of boxes ____ to pay off the ____ British mortgage twice over.
3.It&aposs a ____ business. Never before in Europe has so much money been ____around the____ amid so much____.
4.Because of these ____ parties that we&aposll have to play an important role in this____，and I know that we have built this scenario on a consensus，and I know that no one wants to be the____ link.
5.It&aposs taken years of____and planning for the euro to get this____, and still there is one last____before it comes into everyday use.
Notes：
1.Brinks： 布林克斯公司。該公司成立於1859年，是世界上最大、曆史最長的保安運輸 公司，在世界各地有兩百個分公司和辦事處。
2.Europol： 即European Police Office, 歐洲刑警組織。該機構成立於1992年，總部設在 荷蘭的海牙。其宗旨是在防範恐怖活動、販賣毒品等有組織犯罪方麵促進歐盟成員 國之間的合作。
News Item 6 Shell Makes $13 Billion Profit
John Moylan, BBC News
Vocabulary：
1.bumper adj. extraordinarily abundant or full 豐盛的，十分滿的，豐收的，豐富的
2.turbulent adj. Causing unrest or disturbance ； unruly 狂暴的，吵鬧的 violently agitated or disturbed ； tumultuous ：騷動的，動蕩的