Download miễn phí Báo cáo Theory and practical application of nominal clauses, adverbial clauses, direct & indirect speech in finance OUTLINE

A. Introduction 1
B. Development 2
I. Literature review 2
NOMINAL CLAUSES 2
ADVERBIAL CLAUSES 8
DIRECT AND INDIRECT SPEECH 14
III.Practical application 21
1. Contrast the use of nominal clauses and adverbial clauses in
finance 21
3. Contrast the use of direct speech and indirect speech in finance 34
C. Conclusion 46
D. Appendix 47
I. References 47
II. Discourses ( from Finance Times) 47


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For example: He asked me to come to the party.
He invited me to the party.
He begged me to come to the party.
He ordered me to come to the party.
He advised me to come to the party.
He suggested I should come to the party.
Exclamation → That clause / Wh- clause
In reporting exclamation and wishes, the Indirect Speech is introduced
by some verb expressing Exclamation and Wishes.
For example: Tom said, “ How clever I am? ”
Tom exclaimed that he was very clever.
Or: The teacher said, “ Lan! You have done well” → The techer applauded Lan, saying that she had done well.
III.Practical application
1. Contrast the use of nominal clauses and adverbial clauses in finance
( clauses: nominal clauses; clauses: adverbial clauses)
Articles
Brazil set for interest rate rise
Brazil’s central bank is expected to raise its core interest rate by as much as a full percentage point on Wednesday evening as the unexpectedly fast pace of economic growth puts increasing pressure on prices.
Predictions for economic growth, inflation and interest rates at the end of 2010 have all risen sharply in recent weeks, adding to near-certainty among economists that the bank will raise its target overnight rate, known as the Selic, for the first time since September 10 2008 – less than a week before the collapse of Lehman Brothers and the ensuing global crisis took the pressure off an economy that was showing dangerous signs of overheating.
The bubbles that burst round the developed world are a long way from reinflating but, in Brazil, many economists fear the economy may already be behaving much as it was 18 months ago.
The central bank’s most recent survey of market economists, published on Friday, put the consensus for economic growth this year at 6 per cent – well above the 4.5 per cent or so that many economists regard as the potential, or non-inflationary, rate.
That is even after factoring in an increase in the Selic rate from 8.75 per cent on Wednesday to 11.75 per cent by the end of the year – a full half point above the consensus just four weeks ago.
Consumer price inflation is seen rising to 5.41 per cent a year, almost a point above the government’s target of 4.5 per cent.
Henrique Meirelles, central bank governor, in an unprecedented signal of intent, said on Monday: “In situations like this one, we need a program of vigorous action.”
His comments caused a spike in interest-rate futures contracts as many investors who had expected a half or three-quarter point increase on Wednesday evening began to see a full point rise as a real possibility.
Some economists believe the central bank should have acted more quickly as inflationary pressures emerged some months ago. In a note to clients on Friday, Nick Chamie of RBC Capital Markets said he expected the actual rate of Brazil’s economic growth to overtake its potential rate during the second half of this year. “Given we are six-nine months away from the output gap closing (according to our estimates) and monetary policy tends to work with a 12 to 18-month time lag, it is fair to say the BCB is already behind the curve,” he wrote, describing the task facing the central bank of bringing inflation under control as “an enormous challenge”.
However, others believe there is still room for sustainable growth. On Friday, Marcelo Salomon and Guilherme Loureiro of Barclays Capital wrote that “while inflation is clearly a source of concern and domestic demand growth has jumped back to the pre-crisis levels, there is still some spare capacity to be filled before we reach the same blistering pre-crisis conditions”.
( By Jonathan Wheatley in São Paulo –Finance Times)
Analysis
non- finite (to- infinitive cl)
finite (clause of reason)
finite (clause of result)
non-finite (clause of time)
non- finite (V_ing cl)
non- finite (to-infinitive cl)
finite (clause of reason)
finite (zero that- clause)
finite (zero that- clause)
finite (clause of time)
finite (clause of time)
→
complex sentences
nominal clauses
adverbial clauses
frequency of nominal cls/ complex sentences
frequency of adverbial cls/ complex sentences
10
5
6
50%
60%
Articles
Experts warn deficit could result in new crisis
Strong majorities of former Republican and Democratic economic officials forecast the US will suffer another severe economic crisis unless it takes steps to rein in the country’s structural fiscal deficits, according to the Peterson Foundation, a non-partisan body.
The survey, which questioned officials from eight former US administrations, coincided with the first day’s hearing of Barack Obama’s bipartisan fiscal commission, which will publish its proposals in December, shortly after the mid-term congressional elections.
More than three-quarters of Republicans and Democrats who were surveyed predicted another big crisis within the next decade in the absence of tough measures to reverse America’s deteriorating fiscal outlook.
In contrast to the views of many sitting lawmakers, a strong majority also agreed that any solution would require both tax increases and spending cuts.
“For years folks in Washington deferred politically difficult decisions and avoided telling hard truths about the nature of the problem,” said Mr Obama yesterday.
“This is going to require people of both parties to come together and take a hard look at the growing [fiscal] gap.”
Few observers believe that the 18-member commission, which is co-chaired by Alan Simpson, a former Republican senator, and Erskine Bowles, a former chief of staff to Bill Clinton, the former US president, will come up with meaningful proposals, given the requirement that it produce 14 votes in favour of any recommendation.
Any attempt to reduce long-term deficits, which are driven principally by America’s entitlement programmes, namely Medicare, Medicaid and Social Security, would require Democrats and Republicans to climb down from long-cherished positions.
On Tuesday, Mr Simpson rejected charges by fellow Republicans that the commission was a “stalking horse for higher taxes”. He said: “We are stalking horses for our grandchildren. I have six. He [Mr Bowles] has seven.” He added: “I was in the Senate for 18 years and the cry to me was always: ‘Al, bring the bacon home’. Well, the pig has died.”
Political analysts believe that it will be very difficult to get bipartisan consensus before the onset of another economic crisis.
“When America is in crisis it acts,” said Bill Schneider, a political scientist at George Mason University.
“But the fiscal problem is a bit like global warming. Unless, or until, disaster happens, it is very doubtful the political system will do anything about it,” he added.
(By Edward Luce in Washington- Finance Times)
Analysis
finite (clause of condition)
non- finite(cl of purpose)
finite (that- clause)
non-finite (V_ing cl)
non-finite (to infinitive cl)
non-finite (to infinitive cl)
finite (that-cl)
finite(that-cl)
non finite (result cl)
finite( cl of condition)
finite(that-cl)
→
complex sentences
nominal clauses
adverbial clauses
frequency of nominal cls/ complex sentences
frequency of adverbial cls/ complex sentences
10
7
4
70%
40%
Lending to businesses falls sharply
Lending to private non-financial companies fell sharply in March and at a faster pace than seen over the previous six months, a shift that lenders attributed to low demand for credit from the corporate sector.
Data from the British Bankers’ Association showed that lending to so-called PNFCs – whose activities form the backbone of the British economy – fell by £3bn in March, against an average monthly decline over the previous six months of £1.7bn.
The availability of credit for the corporate sector has been among the chief concerns of economists and policymakers, even in the face of a clearly strengthening outlook for growth.
“Lending to non-financial companies continued to contract annually, as company demand for credit remained subdued even though alternative capital funding has not been as prevalent in the first quarter,” the BBA said.
On the housing front, lending picked up, although only slightly. The number of mortgage approvals rose to 35,000 in March from 33,400 in February, which was itself the lowest level for mortgage lending in 10 months.
Meanwhile, homeowners stepped up the pace at which they are repaying their mortgages so that net mortgage lending – gross disbursements minus repayments – eased to £2.4bn in March from £2.7bn in February and was below the average level of the previous six months.
“The muted BBA mortgage approvals data reinforce our suspicion that house prices will be erratic through 2010, and may very well be no better t...

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