deck no. 13 Flashcards
1
Q
frayed
A
być na włosku (o nerwach); postrzępiony; stargany
If someone, some day, finds a function for blockchain, expect Accenture to be there to advise bosses on its use—and to soothe frayed nerves.
2
Q
strona, aspekt
A
facet
During an interview Thursday with Fox Business Network, he said unpredictable events are a facet of modern business and noted that Apple’s operations team has previously navigated earthquakes, tsunamis and other challenges.
3
Q
old-timer
A
weteran
A disproportionate share of CEOs are old-timers from a handful of blue chips, not all of which have had a stellar run (think of GE, several of whose past executives went on to Boeing).
4
Q
świadczyć, wskazywać
A
to testify
The placements testify to the brokering brawn of executivesearch firms.
5
Q
running joke
A
wielokrotnie powtarzany dowcip,
It had become a running joke on Wall Street that whenever Jamie Dimon was asked, after beating cancer in 2014, how much longer he intended to stay at the helm of JPMorgan Chase (JPM), he always replied: “another five years”.
6
Q
gnać
A
to hurtle
Last year, it was hurtling ahead with a plan to make the iPhone 11 in India, a manufacturing first for a company that had long relied on China to assemble its newest models.
7
Q
to fall by the wayside
A
nie dawać sobie rady
European banks, which stormed into America in the 1990s, have fallen by the wayside in part owing to problems in sclerotic domestic markets where rock-bottom interest rates have crimped margins.
8
Q
to play down
A
umniejszać coś, bagatelizować coś
Apple Chief Executive Tim Cook continues to play down the need to significantly change Apple’s supply chain.
9
Q
wstrząsać kimś, wypełniać kogoś (np. strachem)
A
to ripple through somebody
The Saudi move is also expected to ripple through the US junk bond market, where shale producers have borrowed billions of dollars in recent years.
10
Q
to bet the farm
A
postawić, zaryzykować wszystko, co się ma (cały swój majątek)
Ever since he ascended to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been insistent: despite concerns about the lack of consumer demand, inadequate charging infrastructure and bottlenecks in battery supply chains, the company’s decision to bet the farm on electric vehicles is more than a high-risk gamble.
11
Q
plush
A
luksusowy, komfortowy
Since the most desirable hires typically already hold plush posts, and are constantly wooed by rival recruiters, headhunters must fight hard for their attention.
12
Q
problem (Business English)
A
blow-up
One blow-up in the post-crisis years made it appear that even Mr Dimon was incapable of running a bank as large as JPM had become. In 2012 it lost $6bn as a result of outsized derivatives trades by an employee known as the “London Whale”.
13
Q
zgarnąć coś, rzucać się na coś (np. produkt w sklepie)
A
to snap up something
While they were struggling to stay afloat, JPM was in a position to snap up Bear Stearns and WaMu for a song.
14
Q
sloppiness
A
niedbałość, niechlujność
Just as quickly, the business earned a reputation for sloppiness. Recruiters were “golf-course, back-slapping sales guys”, as one veteran admits.
15
Q
placówka
A
outpost
One recruiter’s ex-boss recalls opening 30 outposts that decade, from Singapore to Sydney.
16
Q
lumbering
A
ospały, ociężały
At the time Citigroup was considered the greatest American bank. It was twice as valuable as its newly merged rival; it had the biggest pile of assets of any bank globally; and it had earned an average return on equity (ROE) of 19.2% over the previous five years. JPM had registered a paltry 8.9%. It was seen as a lumbering laggard.
17
Q
w młody wieku
A
at the tender age of …
Mr Dimon’s impatience to run Citigroup, the institution they built together, at the tender age of 42, ran up against Mr Weill’s unwillingness to relinquish the top job.
18
Q
to link arms
A
wziąć kogoś pod rękę; połączyć siły
The coronavirus crisis is a dark cloud, but here is its silver lining: Americans are finding ways to link arms and handle it themselves.
19
Q
the going gets tough
A
zaczyna być ciężko
They offer a shoulder to cry on when the going gets tough.
20
Q
weteran
A
old-timer
A disproportionate share of CEOs are old-timers from a handful of blue chips, not all of which have had a stellar run (think of GE, several of whose past executives went on to Boeing).
21
Q
zostawić kogoś w tyle
A
to leave somebody in the dust
Over the past 15 years The Economist has described an array of global banks—Citigroup, Bank of America, HSBC, Deutsche Bank—that we thought could become serious rivals to JPM. It has left them all in the dust.
22
Q
przekreślać coś, pokrzyżować coś (np. plany)
A
to put paid to something
As we explain this week, Mr Dimon has put paid to these doubters.
They worked tirelessly for years to build their business, but a sudden economic downturn put paid to their dreams.
23
Q
arystokratyczny
A
blue-blooded
The straight-talking son of second-generation Greek immigrants who settled in New York, he has brought a down-to-earth (some would say brusque) authenticity to what was once one of America’s most buttoned-up, blue-blooded financial firms.
24
Q
world-beater
A
mistrz świata (osoba najlepsza w jakiejś dziedzinie)
JPM has since become a world-beater on a wide range of metrics.
25
nienależyty; nienadający się; nieprzydatny
inadequate
Ever since he ascended to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been insistent: despite concerns about the lack of consumer demand, **inadequate** charging infrastructure and bottlenecks in battery supply chains, the company’s decision to bet the farm on electric vehicles is more than a high-risk gamble.
26
luksusowy, komfortowy
plush
Since the most desirable hires typically already hold **plush** posts, and are constantly wooed by rival recruiters, headhunters must fight hard for their attention.
27
outpost
placówka
One recruiter’s ex-boss recalls opening 30 **outposts** that decade, from Singapore to Sydney.
28
high-rise
wieżowiec
On china’s border with Kazakhstan, a new Silk Road city has sprung up with such speed that Google Earth has scarcely begun to record the **high-rises** that now float on a winter mist above the steppe.
29
drudgery
harówka
Its tools take the **drudgery** out of their work, in order to make them more productive.
30
bezdyskusyjnie najwybitniejszy, najlepszy lub najbardziej ceniony w swojej dziedzinie
pre-eminent
In the 1990s he was the wunderkind sidekick to the imperial Sandy Weill, then boss of Citigroup, the world’s **pre-eminent** bank.
31
for a song
za bezcen, za półdarmo
While they were struggling to stay afloat, JPM was in a position to snap up Bear Stearns and WaMu **for a song**.
32
nijaki
nondescript
From far enough away most houses look the same. At cruising altitude over Dallas, Los Angeles and even much of New York, most dwellings are **nondescript**: beige- or grey-roofed, laid out in neat patterns.
33
knob
gałka, pokrętło
My perspective sitting here today is that if there are changes, you’re talking about adjusting some **knob**s, not some sort of wholesale fundamental change.
34
zdenerwować; wytrącić z równowagi
to unnerve
The entanglement **unnerved** some Apple executives, who encouraged company leaders to look outside China to minimize the risks of labor unrest or a change in Beijing’s position on Apple.
35
ukryć; przebrać
to disguise
A former European bank CEO says banks "went to enormous lengths to **disguise**" the economics of their US businesses.
36
przekazywać (władzę, obowiązki)
to devolve
Scions of business dynasties in places like India increasingly want to **devolve** control of subsidiaries to professional managers, says Dinesh Mirchandani of Boyden, one of the oldest search firms.
37
to pin down
sprecyzować coś
Like Matthieu, the search industry is secretive, and numbers are hard to **pin down**.
38
mądrala
clever clogs
It is tricky to build a culture—and foster a sense of purpose that **clever clogs** now demand of their employers—that appeals to both buttoned-down database managers in Bangalore and tattooed creative directors in Spitalfields.
39
pomocniczy
ancillary
The pressure to plan ahead has led to the growth of all sorts of other **ancillary** services too, from leadership development to board-effectiveness assessment.
40
to hold somebody to something
domagać się od kogoś dotrzymania czegoś (np. obietnicy, przysięgi)
Apple says it **holds suppliers to** the strictest standards in the industry.
41
pre-eminent
wybitny, dominujący
In the 1990s he was the wunderkind sidekick to the imperial Sandy Weill, then boss of Citigroup, the world’s **pre-eminent** bank.
42
ważny
consequential
Ms Sweet’s final predicament is perhaps the most **consequential**.
43
wytrzymywać (np. próbę czasu), być odpornym (na coś)
to withstand
Bosses should be physically fit to **withstand** the brutal workload, comfortable dealing with the media and, increasingly, woke.
44
workload
obciążenie pracą; ilość pracy
Bosses should be physically fit to withstand the brutal **workload**, comfortable dealing with the media and, increasingly, woke.
45
działający; dobrze funkcjonować, pracować na pełnych obrotach
up and running
The best we can do is sell a very small portion of the steel to southern regions or some priority construction sites that are **up and running**.
46
to have a shot at something
mieć szansę
An American firm’s investment banking head singles out Barclays as the only one that **has a shot** but says it is as much of an American firm as they are a European one thanks to the Lehman acquisition.
47
to dissect
dokładnie analizować
Synthesis, an advisory firm inspired by the recruitment of elite units in the Israeli army, even has shrinks **dissect** candidates’ answers to seemingly innocuous questions about their life stories.
48
placement
znalezienie pracy
The **placements** testify to the brokering brawn of executivesearch firms.
49
zastrzegać (coś w umowie); określać (prawa, regulacje)
to stipulate
The agreement **stipulates** that neither Elliott nor Silver Lake will interfere with the platform’s policies or rules.
50
when the chips are down
kiedy przyjdzie co do czego; w trudnej sytuacji *(very difficult or dangerous situation, especially one that makes you understand the true value of people or things)*
Indeed, while there will always be investors who wind up looking smart for investing in, say, an Amazon.com, **when the chips were down**, in most cases the stocks of unprofitable companies eventually head in one direction: lower.
51
popychać
to propel
His long-term aim is to convince capital markets to treat VW more like Tesla than an old-world car manufacturer, **propelling** it to a market value of €200bn, more than double its current €75 bn valuation.
52
fallout
skutek; skutki
The **fallout** is still being felt five years later, with VW on Friday agreeing to an €830m settlement in a lawsuit brought by more than 400,000 affected drivers in Germany.
53
pojawiać się jak grzyby po deszczu
to spring up
On china’s border with Kazakhstan, a new Silk Road city has **sprung up** with such speed that Google Earth has scarcely begun to record the high-rises that now float on a winter mist above the steppe.
54
przestarzały
antiquated
This **antiquated** model is on the verge of being disrupted.
55
to testify
świadczyć, wskazywać
The placements **testify** to the brokering brawn of executivesearch firms.
56
disproportionate
nieproporcjonalny, niewspółmierny
A **disproportionate** share of CEOs are old-timers from a handful of blue chips, not all of which have had a stellar run (think of GE, several of whose past executives went on to Boeing).
57
tu: poddawać się (czyjejś woli), ustępować (komuś)
to defer
But at present Redfin also uses agents to conduct home inspections, and **defers** to them if their assessment differs from that of the algorithm.
58
sprecyzować coś
to pin down
Like Matthieu, the search industry is secretive, and numbers are hard to **pin down**.
59
mistrz świata (osoba najlepsza w jakiejś dziedzinie)
world-beater
JPM has since become a **world-beater** on a wide range of metrics.
60
all but
prawie, niemalże
Making matters worse, shale firms were suffering even before the latest sell-off, as investors questioned their capacity for sustained profits. Capital markets have **all but** closed to the industry.
61
run-up to something
okres przed czymś
European banks expanded their balance sheets to 60 times their common equity in the **run-up to** the crisis, versus 35 times leverage at their US peers.
62
nie dawać sobie rady
to fall by the wayside
European banks, which stormed into America in the 1990s, have **fallen by the wayside** in part owing to problems in sclerotic domestic markets where rock-bottom interest rates have crimped margins.
63
wkraczać, angażować się
to step in
The bank said afterwards that he was "recovering well", and that two trusted lieutenants, Gordon Smith and Daniel Pinto, had **stepped in** to run the bank until his return.
64
za bezcen, za półdarmo
for a song
While they were struggling to stay afloat, JPM was in a position to snap up Bear Stearns and WaMu **for a song**.
65
blue-blooded
arystokratyczny
The straight-talking son of second-generation Greek immigrants who settled in New York, he has brought a down-to-earth (some would say brusque) authenticity to what was once one of America’s most buttoned-up, **blue-blooded** financial firms.
66
poklepywanie po plecach
back-slapping
Just as quickly, the business earned a reputation for sloppiness. Recruiters were "golf-course, **back-slapping** sales guys", as one veteran admits.
67
insistent
uparty
Ever since he ascended to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been **insistent**: despite concerns about the lack of consumer demand, inadequate charging infrastructure and bottlenecks in battery supply chains, the company’s decision to bet the farm on electric vehicles is more than a high-risk gamble.
68
scarcely
niewiele; prawie wcale
On china’s border with Kazakhstan, a new Silk Road city has sprung up with such speed that Google Earth has **scarcely** begun to record the high-rises that now float on a winter mist above the steppe.
69
zmierzyć się z czymś, uporać się z czymś
to get to grips with something
Who is a boss to trust when consultancies themselves are only slowly **getting to grips with** the meaning of technological upheaval?
70
nitrogen
azot
That culture was in part what led to Dieselgate, the 2015 scandal in which VW admitted to having sold 11m cars worldwide fitted with devices that under-reported emissions of **nitrogen** oxide.
71
to take on something
zmagać się z czymś, stawić czoła czemuś
While some of these unprofitable companies may be perceived as disrupters of future business and embraced by certain investors, most of their shareholders probably don’t fully realize the set of risks they are **taking on**.
72
antiquated
przestarzały
This **antiquated** model is on the verge of being disrupted.
73
powściągliwy
downbeat
Still, most outsiders are **downbeat** about the Europeans’ prospects, arguing that technology has made scale more important than ever in investment banking, while negative interest rates in Europe leave the continent’s banks with a weaker financial base.
74
gałka, pokrętło
knob
My perspective sitting here today is that if there are changes, you’re talking about adjusting some **knob**s, not some sort of wholesale fundamental change.
75
hard-scrabble
jałowy, nieurodzajny, biedny
What once would have been flattered to be called a **hard-scrabble** border town is now home to 200,000 people, giant outdoor video screens extolling the glories of a new Silk Road, and restaurants serving sashimi and European wine.
76
bang-up
bardzo dobry, świetny
If her firm keeps doing such a **bang-up** job in convincing clients that technology is central to their success, more of them might opt to build and run a bigger slice of it in-house rather than splurging on outside advice.
77
położenie; miejsce
locus
The **locus** of concern is in the world’s ocean of corporate debt, worth $74trn.
78
deft
zwinny (o ruchach); dobry (w czymś)
In some key businesses Mr Dimon has **deftly** taken advantage of the evolution of the financial system since the crisis.
79
dwelling
mieszkanie; dom
From far enough away most houses look the same. At cruising altitude over Dallas, Los Angeles and even much of New York, most **dwellings** are nondescript: beige- or grey-roofed, laid out in neat patterns.
80
pilny, naglący, nie cierpiący zwłoki
pressing
A survey by AESC, which represents 16,000 search professionals, ranks attracting diverse talent as the seventh-most-**pressing** issue for their firms in 2019, behind such things as attracting digital talent or creating a culture of innovation.
81
to fork over
płacić; sięgać do kieszeni
Homeowners traded property worth $1.5trn in America in 2019, **forking over** some $75bn in commission to agents, or around 0.4% of GDP.
82
lightning rod
piorunochron
The scandal alsomade the company a **lightning rod** for criticism of the industry from environmental groups and European law makers.
83
clever clogs
mądrala
It is tricky to build a culture—and foster a sense of purpose that **clever clogs** now demand of their employers—that appeals to both buttoned-down database managers in Bangalore and tattooed creative directors in Spitalfields.
84
to stipulate
zastrzegać (coś w umowie); określać (prawa, regulacje)
The agreement **stipulates** that neither Elliott nor Silver Lake will interfere with the platform’s policies or rules.
85
zarabiać na siebie
to earn one's keep
Recruiters can be crucial in helping build consensus when, as is so often the case, boards are split. It is as diplomats that the best headhunters **earn their keep**.
86
to harbour doubts
mieć wątpliwości
Yet most large companies will continue to use search firms—even if they do not fully buy the science, or **harbour other doubts**.
87
mieć źródło w czymś; wynikać z czegoś
to arise from something
These mainly **arise from** technology—the prospect that big tech firms might challenge the big banks, or that new payments firms win huge customer bases independently of the banks, as they already have in China, or that new digital currencies take the world by storm.
88
sleuth
tajny agent, detektyw
These corporate **sleuths** aim to tease out how bosses do deals, how they behave under pressure and whether they have ever crossed any ethical lines.
89
szturmem
by storm
These mainly arise from technology—the prospect that big tech firms might challenge the big banks, or that new payments firms win huge customer bases independently of the banks, as they already have in China, or that new digital currencies take the world **by storm**.
90
comfortably
tu: z łatwością
In 2006 its investment bank won a fat share of the advisory fees on Wall Street but its trading business was **comfortably** outclassed by rivals.
91
to run the numbers
robić obliczenia; sprawdzić jakieś dane
We **ran the numbers**, and the picture is a bleak one, despite some high-profile successes.
92
wybulić
to cough up
Mortgage-related fines have cost it tens of billions of dollars—the most expensive being a $13bn bill for misleading investors over toxic securitised loans. JPM also had to **cough up** $2.6bn to settle allegations that it turned a blind eye to Bernie Madoff’s giant Ponzi scheme.
93
bronić, dowieść czegoś; oczyszczać z zarzutów
to vindicate
In summary, Mr Dimon declared that size, scale and staying power matter. This vision has been **vindicated**.
94
obwodnica; capitalized: the political and social world of Washington, D.C., viewed especially as insular and exclusive
beltway
Americans find answers beyond **beltway**.
95
menial
nie wymagający kwalifikacji, nudny
Its 500,000 or so employees perform **menial** functions (running clients’ overseas call centres or making their sales software connect properly to accounting) and more glamorous ones (uploading businesses to the cloud, designing their apps, building ai chatbots, even imagining their next ad campaign).
96
bifurcation
rozwidlenie, rozgałęzienie
You have this **bifurcation**, says Mr Moelis. If you want money and capital and size, go to JPMorgan, Citi etc. If you want scale, European banks are not there. If you want nimble and smart you’re going to go to us boutiques. The middle is the killing field.
97
dokładnie analizować
to dissect
Synthesis, an advisory firm inspired by the recruitment of elite units in the Israeli army, even has shrinks **dissect** candidates’ answers to seemingly innocuous questions about their life stories.
98
to cough up
wybulić
Mortgage-related fines have cost it tens of billions of dollars—the most expensive being a $13bn bill for misleading investors over toxic securitised loans. JPM also had to **cough up** $2.6bn to settle allegations that it turned a blind eye to Bernie Madoff’s giant Ponzi scheme.
99
kiedy przyjdzie co do czego; w trudnej sytuacji *(very difficult or dangerous situation, especially one that makes you understand the true value of people or things)*
when the chips are down
Indeed, while there will always be investors who wind up looking smart for investing in, say, an Amazon.com, **when the chips were down**, in most cases the stocks of unprofitable companies eventually head in one direction: lower.
100
stopniowo zmniejszać ilość czegoś
to nibble away at something
Other innovations are **nibbling away at** the many other tasks that estate agents do.
101
to overreach oneself
przeliczyć się z siłami
Yet some of the bankers who were involved in the expansion believe that it was a lack of ambition—not **overreaching** — that has left the European banks in such a dilemma now.
102
patchy
nierówny (np. o wynikach)
But even in the period before the financial crisis, which European banks regard as their heyday in the US, their record was **patchy**.
103
notice
zawiadomienie, ogłoszenie, wypowiedzenie
The government also has helped funnel workers to Foxconn, posting **notices** online.
104
by storm
szturmem
These mainly arise from technology—the prospect that big tech firms might challenge the big banks, or that new payments firms win huge customer bases independently of the banks, as they already have in China, or that new digital currencies take the world **by storm**.
105
wycisnąć z kogoś ostatnie poty; stanowić poważną konkurencję dla kogoś
to give somebody a run for their money
It was a sign of his steely determination to reach the top that, with a beady eye on Mr Weill, he said the merger would "**give Citi a run for its money**".
106
liaise with somebody
współpracować z kimś
Jay Powell, the Fed chairman, worked hard to **liaise with** G7 central banks before his rate cut last week.
107
oszczędność
frugality
The value he had created at Bank One was mostly generated by **frugality**, not revenue growth.
108
consequential
ważny
Ms Sweet’s final predicament is perhaps the most **consequential**.
109
przeliczyć się z siłami
to overreach oneself
Yet some of the bankers who were involved in the expansion believe that it was a lack of ambition—not **overreaching** — that has left the European banks in such a dilemma now.
110
wystarczać, zadowalać
to suffice
Once the actual headhunting begins, recruiters hire armies of researchers to comb through databases containing millions of profiles; gone are the days when a cabinet full of CVs and organograms of superstar firms like IBM would **suffice**.
111
przymusowy zakaz opuszczania np. (budynków w przypadku zagrożenia dla ludzi)
lockdown
On Wall Street the credit spreads of risky bonds have blown out, while in Italy, a bank-dominated economy that is already in **lockdown**, the share prices of the two biggest lenders, Intesa Sanpaolo and UniCredit, have dropped in the past month by 28% and 40% respectively.
112
the odds are stacked against somebody
ktoś jest bez szans
Despite Mr Diess’s confidence, **the odds of achieving this goal appear to be stacked against** the German carmaker.
113
to disguise
ukryć; przebrać
A former European bank CEO says banks "went to enormous lengths to **disguise**" the economics of their US businesses.
114
to grind to a halt
zatrzymać się;
In a week in which production of Audi’s electric e-tron model **ground to a halt** because of battery shortages, Mr Diess added he was confident the company had identified enough lithium-ion cell supply to see it through to the end of 2023, by which point it hopes to have produced 1m emission-free vehicles.
115
eminent
wyjątkowy; wybitny
Each of our stakeholders is essential. Those words were part of a declaration signed last August by 181 bosses of big American companies belonging to the Business Roundtable, an **eminent** lobby group.
116
on hand
pod ręką
Refocusing your business around a new app? Accenture will be **on hand** to write the code—but can also supply designers to make it look pretty.
117
to leave somebody in the dust
zostawić kogoś w tyle
Over the past 15 years The Economist has described an array of global banks—Citigroup, Bank of America, HSBC, Deutsche Bank—that we thought could become serious rivals to JPM. It has **left them all in the dust**.
118
nieproporcjonalny, niewspółmierny
disproportionate
A **disproportionate** share of CEOs are old-timers from a handful of blue chips, not all of which have had a stellar run (think of GE, several of whose past executives went on to Boeing).
119
flab
tłuszczyk
This vision has been vindicated. First, during the pre-crisis years, he focused on ridding the bank of **flab**.
120
prawie, niemalże
all but
Making matters worse, shale firms were suffering even before the latest sell-off, as investors questioned their capacity for sustained profits. Capital markets have **all but** closed to the industry.
121
to get to grips with something
zmierzyć się z czymś, uporać się z czymś
Who is a boss to trust when consultancies themselves are only slowly **getting to grips with** the meaning of technological upheaval?
122
landmark
przełomowy
Deutsche was able to muscle its way into some **landmark** deals, including a 2012 mandate to advise AIG on its return to the public market.
123
to snap up something
zgarnąć coś, rzucać się na coś (np. produkt w sklepie)
While they were struggling to stay afloat, JPM was in a position to **snap up** Bear Stearns and WaMu for a song.
124
to suffice
wystarczać, zadowalać
Once the actual headhunting begins, recruiters hire armies of researchers to comb through databases containing millions of profiles; gone are the days when a cabinet full of CVs and organograms of superstar firms like IBM would **suffice**.
125
to avert
uniknąć; zapobiegać
Mr. Cook managed to **avert** tariffs on Apple’s bestselling product, the iPhone, telling President Trump it would put the company at a competitive disadvantage to its biggest rival, South Korea’s Samsung Electronics Co.
126
napotkać przeszkodę
to hit a snag
Efforts to restart production in the U.S. have also **hit snags**.
127
bez szwanku, bez uszczerbku
unscathed
Despite navigating the crisis relatively **unscathed**, the bank has paid heavily for mishaps.
128
twinkle in your eye
błysk w oku
Sometimes he said it with a **twinkle in his eye**; at other times the response was tetchy.
129
to swamp
zalewać (okolicę), zatapiać (np. statek), zanurzać (się w wodzie, bagnie)
Saudi Arabia has launched an oil price war targeting its biggest rival producers, a move that threatens to **swamp** the crudemarket with supplies just as the corona virus outbreak hits demand.
130
chwalić
to laud
The decision is especially tricky for a boss who is so widely **lauded**, and famously dedicated to the job.
131
uparty
insistent
Ever since he ascended to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been **insistent**: despite concerns about the lack of consumer demand, inadequate charging infrastructure and bottlenecks in battery supply chains, the company’s decision to bet the farm on electric vehicles is more than a high-risk gamble.
132
inadequate
nienależyty; nienadający się; nieprzydatny
Ever since he ascended to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been insistent: despite concerns about the lack of consumer demand, **inadequate** charging infrastructure and bottlenecks in battery supply chains, the company’s decision to bet the farm on electric vehicles is more than a high-risk gamble.
133
cash-strapped
bez grosza przy duszy, spłukany
Recessions hurt consultants as **cash-strapped** clients focus on survival rather than expansion.
134
shouting match
pyskówka, zajadła kłótnia
His **shouting matches** with Mr Weill were infamous, and he was also considered brash.
135
to run short of something
wyczerpywać coś, mieć mało czegoś
The Fed should scale up currency swap lines with other central banks to help them meet demand for dollars if local liquidity **runs short**.
136
niedbałość, niechlujność
sloppiness
Just as quickly, the business earned a reputation for **sloppines**s. Recruiters were "golf-course, back-slapping sales guys", as one veteran admits.
137
lekceważący
dismissive
One senior European investment banker is even more **dismissive**: There was a brief period in 2000-07 when it was possible to compete as a global investment bank with headquarters outside the US. We’re back to investment banking being an exclusively US industry.
138
zatrzymać się;
to grind to a halt
In a week in which production of Audi’s electric e-tron model **ground to a halt** because of battery shortages, Mr Diess added he was confident the company had identified enough lithium-ion cell supply to see it through to the end of 2023, by which point it hopes to have produced 1m emission-free vehicles.
139
wrócić do normy; odbić się od dna; stanąć na nogi
to bounce back
Unlike the 2008 subprime crisis, the shock is not coming from the financial sector, so it is less destabilising, and there is more chance of a quick **bounce back**.
140
laggard
maruder; ciemięga; guzdrała
At the time Citigroup was considered the greatest American bank. It was twice as valuable as its newly merged rival; it had the biggest pile of assets of any bank globally; and it had earned an average return on equity (ROE) of 19.2% over the previous five years. JPM had registered a paltry 8.9%. It was seen as a lumbering **laggard**.
141
daunting
trudny; stanowiący wyzwanie
The question for Julie Sweet, an American who took charge in September, is whether Accenture can keep ballooning. She faces three challenges. First, the sheer scale of the firm already feels **daunting**.
142
wyczerpywać coś, mieć mało czegoś
to run short of something
The Fed should scale up currency swap lines with other central banks to help them meet demand for dollars if local liquidity **runs short**.
143
overlooking
(np. okno) wychodzące na
There is no other alternative to electric cars, he said, in an office **overlooking** the sprawling factory halls and railway tracks that criss-cross VW’s home.
144
skutek; skutki
fallout
The **fallout** is still being felt five years later, with VW on Friday agreeing to an €830m settlement in a lawsuit brought by more than 400,000 affected drivers in Germany.
145
alive to something
świadomy czegoś, zdający sobie sprawę z czegoś
Some financial experts expect it to have the same impact on the industry as electricity did on manufacturing in the 1890s. Mr Dimon is **alive to** the threat.
146
od początku do końca (np. życia); przez cały (np. rok)
throughout
**Throughout**, however, Mr Dimon has stuck to his overarching strategy, and the economies of scale have paid off.
147
to withstand
wytrzymywać (np. próbę czasu), być odpornym (na coś)
Bosses should be physically fit to **withstand** the brutal workload, comfortable dealing with the media and, increasingly, woke.
148
zapracować na coś (o podwyższeniu kwalifikacji lub uzyskaniu lepszej pozycji w pracy)
work one's way up to something
Having focused at first on junior hires, these are **working their way up to** the C-suite, says Ms Garrison Jenn.
149
szczebel
rung
Having had two serious health scares, Mr Dimon may now be reflecting more seriously on how change at the top can reinvigorate the lower **rungs**.
150
harówka
drudgery
Its tools take the **drudgery** out of their work, in order to make them more productive.
151
bardzo dobry, świetny
bang-up
If her firm keeps doing such a **bang-up** job in convincing clients that technology is central to their success, more of them might opt to build and run a bigger slice of it in-house rather than splurging on outside advice.
152
ciężka robota
heavy lifting
They jet around to sign contracts, but leave underlings who have less access and experience to do most of the **heavy lifting**.
153
całkowite zerwanie (stosunków)
clean break
A **clean break** with China is impossible.
154
to unnerve
zdenerwować; wytrącić z równowagi
The entanglement **unnerved** some Apple executives, who encouraged company leaders to look outside China to minimize the risks of labor unrest or a change in Beijing’s position on Apple.
155
płacić; sięgać do kieszeni
to fork over
Homeowners traded property worth $1.5trn in America in 2019, **forking over** some $75bn in commission to agents, or around 0.4% of GDP.
156
to arise from something
mieć źródło w czymś; wynikać z czegoś
These mainly **arise from** technology—the prospect that big tech firms might challenge the big banks, or that new payments firms win huge customer bases independently of the banks, as they already have in China, or that new digital currencies take the world by storm.
157
typowe (dla kogoś)
in character
Will he tolerate currency depreciation across a swath of US trading partners? It does not seem **in character**.
158
ospały, ociężały
lumbering
At the time Citigroup was considered the greatest American bank. It was twice as valuable as its newly merged rival; it had the biggest pile of assets of any bank globally; and it had earned an average return on equity (ROE) of 19.2% over the previous five years. JPM had registered a paltry 8.9%. It was seen as a **lumbering** laggard.
159
to put paid to something
przekreślać coś, niweczyć coś; pokrzyżować (np. plany)
As we explain this week, Mr Dimon has **put paid to** these doubters.
The injury he sustained during training **put paid to** his chances of competing in the upcoming race.
160
przełomowy
landmark
Deutsche was able to muscle its way into some **landmark** deals, including a 2012 mandate to advise AIG on its return to the public market.
161
to give somebody a run for their money
wycisnąć z kogoś ostatnie poty; stanowić poważną konkurencję dla kogoś
It was a sign of his steely determination to reach the top that, with a beady eye on Mr Weill, he said the merger would "**give Citi a run for its money**".
162
wyrzucać, pozbywać się
to jettison
He **jettisoned** consultants the firm had hired and trimmed benefits for executives.
163
to rush something through
przeprowadzać coś w krótkim czasie; szybko coś zrobić
Its unique ownership structure, in which the Porsche and Piëch families indirectly own a majority stake, and the state of Lower Saxony has a blocking minority, prevents the company from **rushing through** seismic shifts in strategy.
164
uderzyć
to wallop
Some 7% of non-financial corporate bonds globally are owed by industries being **walloped** by the virus, such as airlines and hotels.
165
motion
propozycja, wniosek
Shareholders proposed a **motion** to separate the job of chief executive from chairman (though it was defeated).
166
podwójny cios
double whammy
As a **double whammy**, my husband's hours and income have also been cut.
167
downbeat
powściągliwy
Still, most outsiders are **downbeat** about the Europeans’ prospects, arguing that technology has made scale more important than ever in investment banking, while negative interest rates in Europe leave the continent’s banks with a weaker financial base.
168
adjacent
sąsiedni, przylegający
By contrast, **adjacent** Brooklyn brownstones built in the 1920s could be entirely different beasts.
169
usterka
glitch
Twitter stock took a brutal hit in October, falling 20% in one day after technical **glitches** in its advertising software roiled the company in the third quarter.
170
to hurtle
gnać
Last year, it was **hurtling** ahead with a plan to make the iPhone 11 in India, a manufacturing first for a company that had long relied on China to assemble its newest models.
171
wnosić coś korzystnego
to bring something to the table
They really had nothing to **bring to the table** but money, argues the former CEOof a large European bank.
172
okres przed czymś
run-up to something
European banks expanded their balance sheets to 60 times their common equity in the **run-up to** the crisis, versus 35 times leverage at their US peers.
173
double whammy
podwójny cios
As a **double whammy**, my husband's hours and income have also been cut.
174
to vindicate
bronić, dowieść czegoś; oczyszczać z zarzutów
In summary, Mr Dimon declared that size, scale and staying power matter. This vision has been **vindicated**.
175
umiejętność przetrwania, wytrzymałość
staying power
In summary, Mr Dimon declared that size, scale and **staying power** matter. This vision has been vindicated.
176
azot
nitrogen
That culture was in part what led to Dieselgate, the 2015 scandal in which VW admitted to having sold 11m cars worldwide fitted with devices that under-reported emissions of **nitrogen** oxide.
177
umniejszać coś, bagatelizować coś
to play down
Apple Chief Executive Tim Cook continues to **play down** the need to significantly change Apple’s supply chain.
178
tu: z łatwością
comfortably
In 2006 its investment bank won a fat share of the advisory fees on Wall Street but its trading business was **comfortably** outclassed by rivals.
179
sąsiedni, przylegający
adjacent
By contrast, **adjacent** Brooklyn brownstones built in the 1920s could be entirely different beasts.
180
idiosyncratic
specyficzny, charakterystyczny, unikalny
*Idiosynkratyczny to pojęcie, które odnosi się do cech, zachowań, lub stylów charakterystycznych dla jednej konkretnej osoby. Może to oznaczać, że dana osoba ma unikalne, nietypowe lub specyficzne dla siebie cechy, które odróżniają ją od innych.*
Some markets might be too **idiosyncratic** for i-buying, says Sean Black of Knock. Prices jump in Palo Alto, a town south of San Francisco that is popular with tech workers, when a large company goes public.
181
nondescript
nijaki
From far enough away most houses look the same. At cruising altitude over Dallas, Los Angeles and even much of New York, most dwellings are **nondescript**: beige- or grey-roofed, laid out in neat patterns.
182
to extol
wychwalać
What once would have been flattered to be called a hard-scrabble border town is now home to 200,000 people, giant outdoor video screens **extolling** the glories of a new Silk Road, and restaurants serving sashimi and European wine.
183
to hit a snag
napotkać przeszkodę
Efforts to restart production in the U.S. have also **hit snags**.
184
to weather
stawiać czoło, przetrzymać
Frontrunners might, for instance, be sent reports about an imaginary company, then asked to run mock board meetings, calm down emotional managers of troubled divisions or **weather** earnings calls with aggressive analysts.
185
pressing
pilny, naglący, nie cierpiący zwłoki
A survey by AESC, which represents 16,000 search professionals, ranks attracting diverse talent as the seventh-most-**pressing** issue for their firms in 2019, behind such things as attracting digital talent or creating a culture of innovation.
186
nie wymagający kwalifikacji, nudny
menial
Its 500,000 or so employees perform **menial** functions (running clients’ overseas call centres or making their sales software connect properly to accounting) and more glamorous ones (uploading businesses to the cloud, designing their apps, building ai chatbots, even imagining their next ad campaign).
187
realna wartość rynkowa
fair value
That said, where i-buyers do operate, they seem to get close to offering **fair value**.
188
przymykać na coś oko (udawać, że się czegoś nie widzi lub że się o czymś nie wie)
to turn a blind eye to something
Mortgage-related fines have cost it tens of billions of dollars—the most expensive being a $13bn bill for misleading investors over toxic securitised loans. JPM also had to cough up $2.6bn to settle allegations that it **turned a blind eye** to Bernie Madoff’s giant Ponzi scheme.
189
iskierka nadziei; jasna strona
silver lining
The coronavirus crisis is a dark cloud, but here is its **silver lining**: Americans are finding ways to link arms and handle it themselves.
190
robić obliczenia; sprawdzić jakieś dane
to run the numbers
We **ran the numbers**, and the picture is a bleak one, despite some high-profile successes.
191
bez grosza przy duszy, spłukany
cash-strapped
Recessions hurt consultants as **cash-strapped** clients focus on survival rather than expansion.
192
throughout
od początku do końca (np. życia); przez cały (np. rok)
**Throughout**, however, Mr Dimon has stuck to his overarching strategy, and the economies of scale have paid off.
193
to laud
chwalić
The decision is especially tricky for a boss who is so widely **lauded**, and famously dedicated to the job.
194
lockdown
przymusowy zakaz opuszczania np. (budynków w przypadku zagrożenia dla ludzi)
On Wall Street the credit spreads of risky bonds have blown out, while in Italy, a bank-dominated economy that is already in **lockdown**, the share prices of the two biggest lenders, Intesa Sanpaolo and UniCredit, have dropped in the past month by 28% and 40% respectively.
195
to devolve
przekazywać (władzę, obowiązki)
Scions of business dynasties in places like India increasingly want to **devolve** control of subsidiaries to professional managers, says Dinesh Mirchandani of Boyden, one of the oldest search firms.
196
rozwidlenie, rozgałęzienie
bifurcation
You have this **bifurcation**, says Mr Moelis. If you want money and capital and size, go to JPMorgan, Citi etc. If you want scale, European banks are not there. If you want nimble and smart you’re going to go to us boutiques. The middle is the killing field.
197
zmagać się z czymś, stawić czoła czemuś
to take on something
While some of these unprofitable companies may be perceived as disrupters of future business and embraced by certain investors, most of their shareholders probably don’t fully realize the set of risks they are **taking on**.
198
trwonić pieniądze
to splurge
If her firm keeps doing such a bang-up job in convincing clients that technology is central to their success, more of them might opt to build and run a bigger slice of it in-house rather than **splurging** on outside advice.
199
wielokrotnie powtarzany dowcip,
running joke
It had become a **running joke** on Wall Street that whenever Jamie Dimon was asked, after beating cancer in 2014, how much longer he intended to stay at the helm of JPMorgan Chase (JPM), he always replied: "another five years".
200
natykać się na coś (np. na problemy)
to run up against something
Mr Dimon’s impatience to run Citigroup, the institution they built together, at the tender age of 42, **ran up against** Mr Weill’s unwillingness to relinquish the top job.
201
być na włosku (o nerwach); postrzępiony; stargany
frayed
If someone, some day, finds a function for blockchain, expect Accenture to be there to advise bosses on its use—and to soothe **frayed** nerves.
202
to keep something at arm's length
trzymać coś na dystans
The burgeoning Chinese lenders are **kept at arm’s length** by international investors, who are rightly wary of what they stuff into their loan books.
203
przeprowadzać coś w krótkim czasie; szybko coś zrobić
to rush something through
Its unique ownership structure, in which the Porsche and Piëch families indirectly own a majority stake, and the state of Lower Saxony has a blocking minority, prevents the company from **rushing through** seismic shifts in strategy.
204
heavy lifting
ciężka robota
They jet around to sign contracts, but leave underlings who have less access and experience to do most of the **heavy lifting**.
205
zawiadomienie, ogłoszenie, wypowiedzenie
notice
The government also has helped funnel workers to Foxconn, posting **notices** online.
206
to defer
tu: poddawać się (czyjejś woli), ustępować (komuś)
But at present Redfin also uses agents to conduct home inspections, and **defers** to them if their assessment differs from that of the algorithm.
207
silver lining
iskierka nadziei; jasna strona
The coronavirus crisis is a dark cloud, but here is its **silver lining**: Americans are finding ways to link arms and handle it themselves.
208
scion
potomek (znanej lub poważanej rodziny)
**Scions** of business dynasties in places like India increasingly want to devolve control of subsidiaries to professional managers, says Dinesh Mirchandani of Boyden, one of the oldest search firms.
209
trudny; stanowiący wyzwanie
daunting
The question for Julie Sweet, an American who took charge in September, is whether Accenture can keep ballooning. She faces three challenges. First, the sheer scale of the firm already feels **daunting**.
210
świadomy czegoś, zdający sobie sprawę z czegoś
alive to something
Some financial experts expect it to have the same impact on the industry as electricity did on manufacturing in the 1890s. Mr Dimon is **alive to** the threat.
211
wziąć kogoś pod rękę; połączyć siły
to link arms
The coronavirus crisis is a dark cloud, but here is its silver lining: Americans are finding ways **to link arms** and handle it themselves.
212
up and running
działający; dobrze funkcjonować, pracować na pełnych obrotach
The best we can do is sell a very small portion of the steel to southern regions or some priority construction sites that are **up and running**.
213
zalewać (okolicę), zatapiać (np. statek), zanurzać (się w wodzie, bagnie)
to swamp
Saudi Arabia has launched an oil price war targeting its biggest rival producers, a move that threatens to **swamp** the crudemarket with supplies just as the corona virus outbreak hits demand.
214
mock
próbny, przykładowy
Frontrunners might, for instance, be sent reports about an imaginary company, then asked to run **mock** board meetings, calm down emotional managers of troubled divisions or weather earnings calls with aggressive analysts.
215
to single out
wybierać kogoś
An American firm’s investment banking head **singles out** Barclays as the only one that has a shot but says it is as much of an American firm as they are a European one thanks to the Lehman acquisition.
216
rung
szczebel
Having had two serious health scares, Mr Dimon may now be reflecting more seriously on how change at the top can reinvigorate the lower **rungs**.
217
to ripple through somebody
wstrząsać kimś, wypełniać kogoś (np. strachem)
The Saudi move is also expected to **ripple through** the US junk bond market, where shale producers have borrowed billions of dollars in recent years.
218
to ascend
wspinać się; piąć się po szczeblach kariery
Ever since he **ascended** to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been insistent: despite concerns about the lack of consumer demand, inadequate charging infrastructure and bottlenecks in battery supply chains, the company’s decision to bet the farm on electric vehicles is more than a high-risk gamble.
219
próbny, przykładowy
mock
Frontrunners might, for instance, be sent reports about an imaginary company, then asked to run **mock** board meetings, calm down emotional managers of troubled divisions or weather earnings calls with aggressive analysts.
220
na przestrzeni (np. lat)
over the course of
Such healthy paranoia forms the basis for a weekly meeting between Mr Dimon and the heads of all the main businesses. The meeting has no time limit—sometimes it takes minutes, other times all day—and he quizzes them on what the risks are in their units.It was **over the course of** these meetings in 2006 that problems with subprime mortgages were revealed.
221
to spring up
pojawiać się jak grzyby po deszczu
On china’s border with Kazakhstan, a new Silk Road city has **sprung up** with such speed that Google Earth has scarcely begun to record the high-rises that now float on a winter mist above the steppe.
222
clean break
całkowite zerwanie (stosunków)
A **clean break** with China is impossible.
223
wspinać się; piąć się po szczeblach kariery
to ascend
Ever since he **ascended** to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been insistent: despite concerns about the lack of consumer demand, inadequate charging infrastructure and bottlenecks in battery supply chains, the company’s decision to bet the farm on electric vehicles is more than a high-risk gamble.
224
propozycja, wniosek
motion
Shareholders proposed a **motion** to separate the job of chief executive from chairman (though it was defeated).
225
staying power
umiejętność przetrwania, wytrzymałość
In summary, Mr Dimon declared that size, scale and **staying power** matter. This vision has been vindicated.
226
błysk w oku
twinkle in your eye
Sometimes he said it with a **twinkle in his eye**; at other times the response was tetchy.
227
facet
strona, aspekt
During an interview Thursday with Fox Business Network, he said unpredictable events are a **facet** of modern business and noted that Apple’s operations team has previously navigated earthquakes, tsunamis and other challenges.
228
to run up against something
natykać się na coś (np. na problemy)
Mr Dimon’s impatience to run Citigroup, the institution they built together, at the tender age of 42, **ran up against** Mr Weill’s unwillingness to relinquish the top job.
229
wyjątkowy; wybitny; prominentny
eminent
Each of our stakeholders is essential. Those words were part of a declaration signed last August by 181 bosses of big American companies belonging to the Business Roundtable, an **eminent** lobby group.
230
przypadać do zapłaty, być płatnym
to fall due
Bonds vary by tenor (the length of time till they **fall due**) and coupon (interest) rate.
231
fair value
realna wartość rynkowa
That said, where i-buyers do operate, they seem to get close to offering **fair value**.
232
to propel
popychać
His long-term aim is to convince capital markets to treat VW more like Tesla than an old-world car manufacturer, **propelling** it to a market value of €200bn, more than double its current €75 bn valuation.
233
wycofać się
to bow out
Were Mr Dimon to **bow out** now, his place in the pantheon of banking greats would be assured.
234
to jettison
wyrzucać, pozbywać się
He **jettisoned** consultants the firm had hired and trimmed benefits for executives.
235
blow-up
problem (Business English)
One **blow-up** in the post-crisis years made it appear that even Mr Dimon was incapable of running a bank as large as JPM had become. In 2012 it lost $6bn as a result of outsized derivatives trades by an employee known as the "London Whale".
236
to linger
trwać, utrzymywać się (np. o zapachu, smaku); wlec się (np. czas)
Doubts **lingered** about his ability to pull off a similar trick on a bigger stage.
237
beltway
obwodnica; capitalized: the political and social world of Washington, D.C., viewed especially as insular and exclusive
Americans find answers beyond **beltway**.
238
mieć szansę
to have a shot at something
An American firm’s investment banking head singles out Barclays as the only one that **has a shot** but says it is as much of an American firm as they are a European one thanks to the Lehman acquisition.
239
pyskówka, zajadła kłótnia
shouting match
His **shouting matches** with Mr Weill were infamous, and he was also considered brash.
240
stawiać czoło, przetrzymać
to weather
Frontrunners might, for instance, be sent reports about an imaginary company, then asked to run mock board meetings, calm down emotional managers of troubled divisions or **weather** earnings calls with aggressive analysts.
241
to quip
żartować
Jamie Dimon has only one succession plan, **quips** one European bank boss, If he sees a successor, he kills them.
242
zaczyna być ciężko
the going gets tough
They offer a shoulder to cry on when **the going gets tough**.
243
mieszkanie; dom
dwelling
From far enough away most houses look the same. At cruising altitude over Dallas, Los Angeles and even much of New York, most **dwellings** are nondescript: beige- or grey-roofed, laid out in neat patterns.
244
postawić, zaryzykować wszystko, co się ma (cały swój majątek)
to bet the farm
Ever since he ascended to the top position at VW’s Wolfsburg headquarters in 2018, Mr Diess has been insistent: despite concerns about the lack of consumer demand, inadequate charging infrastructure and bottlenecks in battery supply chains, the company’s decision to **bet the farm on** electric vehicles is more than a high-risk gamble.
245
wychwalać
to extol
What once would have been flattered to be called a hard-scrabble border town is now home to 200,000 people, giant outdoor video screens **extolling** the glories of a new Silk Road, and restaurants serving sashimi and European wine.
246
domagać się od kogoś dotrzymania czegoś (np. obietnicy, przysięgi)
to hold somebody to something
Apple says it **holds suppliers to** the strictest standards in the industry.
247
glitch
usterka
Twitter stock took a brutal hit in October, falling 20% in one day after technical **glitches** in its advertising software roiled the company in the third quarter.
248
współpracować z kimś
liaise with somebody
Jay Powell, the Fed chairman, worked hard to **liaise with** G7 central banks before his rate cut last week.
249
maruder; ciemięga; guzdrała
laggard
At the time Citigroup was considered the greatest American bank. It was twice as valuable as its newly merged rival; it had the biggest pile of assets of any bank globally; and it had earned an average return on equity (ROE) of 19.2% over the previous five years. JPM had registered a paltry 8.9%. It was seen as a lumbering **laggard**.
250
to stay woke
być na bieżąco
Bosses should be physically fit to withstand the brutal workload, comfortable dealing with the media and, increasingly, **woke**.
251
to go to great lengths
zadać sobie wiele trudu
A former European bank CEO says banks "**went to enormous lengths** to disguise" the economics of their US businesses.
252
pod ręką
on hand
Refocusing your business around a new app? Accenture will be **on hand** to write the code—but can also supply designers to make it look pretty.
253
piorunochron
lightning rod
The scandal alsomade the company a **lightning rod** for criticism of the industry from environmental groups and European law makers.
254
back-slapping
poklepywanie po plecach
Just as quickly, the business earned a reputation for sloppiness. Recruiters were "golf-course, **back-slapping** sales guys", as one veteran admits.
255
jałowy, nieurodzajny, biedny
hard-scrabble
What once would have been flattered to be called a **hard-scrabble** border town is now home to 200,000 people, giant outdoor video screens extolling the glories of a new Silk Road, and restaurants serving sashimi and European wine.
256
wieżowiec
high-rise
On china’s border with Kazakhstan, a new Silk Road city has sprung up with such speed that Google Earth has scarcely begun to record the **high-rises** that now float on a winter mist above the steppe.
257
to bounce back
wrócić do normy; odbić się od dna; stanąć na nogi
Unlike the 2008 subprime crisis, the shock is not coming from the financial sector, so it is less destabilising, and there is more chance of a quick **bounce back**.
258
znalezienie pracy
placement
The **placements** testify to the brokering brawn of executivesearch firms.
259
beholden
zobowiązany
And China became **beholden** to Foxconn as the nation’s largest private-sector employer and Apple as a trainer of new technology suppliers.
260
wybierać kogoś
to single out
An American firm’s investment banking head **singles out** Barclays as the only one that has a shot but says it is as much of an American firm as they are a European one thanks to the Lehman acquisition.
261
specyficzny, charakterystyczny
idiosyncratic
Some markets might be too **idiosyncratic** for i-buying, says Sean Black of Knock. Prices jump in Palo Alto, a town south of San Francisco that is popular with tech workers, when a large company goes public.
262
trwać, utrzymywać się (np. o zapachu, smaku); wlec się (np. czas)
to linger
Doubts **lingered** about his ability to pull off a similar trick on a bigger stage.
263
tajny agent, detektyw
sleuth
These corporate **sleuths** aim to tease out how bosses do deals, how they behave under pressure and whether they have ever crossed any ethical lines.
264
to step in
wkraczać, angażować się
The bank said afterwards that he was "recovering well", and that two trusted lieutenants, Gordon Smith and Daniel Pinto, had **stepped in** to run the bank until his return.
265
uniknąć; zapobiegać
to avert
Mr. Cook managed to **avert** tariffs on Apple’s bestselling product, the iPhone, telling President Trump it would put the company at a competitive disadvantage to its biggest rival, South Korea’s Samsung Electronics Co.
266
całkowity, totalny
all-out
Traders and analysts have warned that an **all-out** price war could see oil prices fall to $30 a barrel or lower, bringing back memories of the last time Saudi Arabia opened the taps in 2014.
267
być na bieżąco
to stay woke
Bosses should be physically fit to withstand the brutal workload, comfortable dealing with the media and, increasingly, **woke**.
268
work one's way up to something
zapracować na coś (o podwyższeniu kwalifikacji lub uzyskaniu lepszej pozycji w pracy)
Having focused at first on junior hires, these are **working their way up to** the C-suite, says Ms Garrison Jenn.
269
trzymać coś na dystans
to keep something at arm's length
The burgeoning Chinese lenders are **kept at arm’s length** by international investors, who are rightly wary of what they stuff into their loan books.
270
(np. okno) wychodzące na
overlooking
There is no other alternative to electric cars, he said, in an office **overlooking** the sprawling factory halls and railway tracks that criss-cross VW’s home.
271
to nibble away at something
stopniowo zmniejszać ilość czegoś
Other innovations are **nibbling away at** the many other tasks that estate agents do.
272
zwinny (o ruchach); dobry (w czymś)
deft
In some key businesses Mr Dimon has **deftly** taken advantage of the evolution of the financial system since the crisis.
273
nierówny (np. o wynikach)
patchy
But even in the period before the financial crisis, which European banks regard as their heyday in the US, their record was **patchy**.
274
mieć wątpliwości
to harbour doubts
Yet most large companies will continue to use search firms—even if they do not fully buy the science, or **harbour other doubts**.
275
dismissive
lekceważący
One senior European investment banker is even more **dismissive**: There was a brief period in 2000-07 when it was possible to compete as a global investment bank with headquarters outside the US. We’re back to investment banking being an exclusively US industry.
276
żartować
to quip
Jamie Dimon has only one succession plan, **quips** one European bank boss, If he sees a successor, he kills them.
277
to turn a blind eye to something
przymykać na coś oko (udawać, że się czegoś nie widzi lub że się o czymś nie wie)
Mortgage-related fines have cost it tens of billions of dollars—the most expensive being a $13bn bill for misleading investors over toxic securitised loans. JPM also had to cough up $2.6bn to settle allegations that it **turned a blind eye** to Bernie Madoff’s giant Ponzi scheme.
278
potomek (znanej lub poważanej rodziny)
scion
**Scions** of business dynasties in places like India increasingly want to devolve control of subsidiaries to professional managers, says Dinesh Mirchandani of Boyden, one of the oldest search firms.
279
locus
położenie; miejsce
The **locus** of concern is in the world’s ocean of corporate debt, worth $74trn.
280
to earn one's keep
zarabiać na siebie
Recruiters can be crucial in helping build consensus when, as is so often the case, boards are split. It is as diplomats that the best headhunters **earn their keep**.
281
obciążenie pracą; ilość pracy
workload
Bosses should be physically fit to withstand the brutal **workload**, comfortable dealing with the media and, increasingly, woke.
282
to bow out
wycofać się
Were Mr Dimon to **bow out** now, his place in the pantheon of banking greats would be assured.
283
unscathed
bez szwanku, bez uszczerbku
Despite navigating the crisis relatively **unscathed**, the bank has paid heavily for mishaps.
284
in character
typowe (dla kogoś)
Will he tolerate currency depreciation across a swath of US trading partners? It does not seem **in character**.
285
over the course of
na przestrzeni (np. lat)
Such healthy paranoia forms the basis for a weekly meeting between Mr Dimon and the heads of all the main businesses. The meeting has no time limit—sometimes it takes minutes, other times all day—and he quizzes them on what the risks are in their units.It was **over the course of** these meetings in 2006 that problems with subprime mortgages were revealed.
286
ktoś jest bez szans
the odds are stacked against somebody
Despite Mr Diess’s confidence, **the odds of achieving this goal appear to be stacked against** the German carmaker.
287
pozbawiony czegoś
devoid of something
The process is not entirely **devoid of** human input.
288
devoid of something
pozbawiony czegoś
The process is not entirely **devoid of** human input.
289
ancillary
pomocniczy
The pressure to plan ahead has led to the growth of all sorts of other **ancillary** services too, from leadership development to board-effectiveness assessment.
290
frugality
oszczędność
The value he had created at Bank One was mostly generated by **frugality**, not revenue growth.
291
to splurge
trwonić pieniądze
If her firm keeps doing such a bang-up job in convincing clients that technology is central to their success, more of them might opt to build and run a bigger slice of it in-house rather than **splurging** on outside advice.
292
to wallop
uderzyć
Some 7% of non-financial corporate bonds globally are owed by industries being **walloped** by the virus, such as airlines and hotels.
293
all-out
całkowity, totalny
Traders and analysts have warned that an **all-out** price war could see oil prices fall to $30 a barrel or lower, bringing back memories of the last time Saudi Arabia opened the taps in 2014.
294
to bring something to the table
wnosić coś korzystnego
They really had nothing to **bring to the table** but money, argues the former CEOof a large European bank.
295
tłuszczyk
flab
This vision has been vindicated. First, during the pre-crisis years, he focused on ridding the bank of **flab**.
296
to fall due
przypadać do zapłaty, być płatnym
Bonds vary by tenor (the length of time till they **fall due**) and coupon (interest) rate.
297
at the tender age of …
w młody wieku
Mr Dimon’s impatience to run Citigroup, the institution they built together, **at the tender age of** 42, ran up against Mr Weill’s unwillingness to relinquish the top job.
298
zadać sobie wiele trudu
to go to great lengths
A former European bank CEO says banks "**went to enormous lengths** to disguise" the economics of their US businesses.
299
zobowiązany
beholden
And China became **beholden** to Foxconn as the nation’s largest private-sector employer and Apple as a trainer of new technology suppliers.
300
niewiele; prawie wcale
scarcely
On china’s border with Kazakhstan, a new Silk Road city has sprung up with such speed that Google Earth has **scarcely** begun to record the high-rises that now float on a winter mist above the steppe.
