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Business Word/Phrase of the Day

word-phrase-descEvery day we publish a business word or phrase together with audio pronunciation, phonetics, definition and example sentences. This is a great way to improve your workplace vocabulary as well as your pronunciation. To receive 'Business Word/Phrase of the Day' by email, just subscribe to our newsletter from the link above. 

INFLATIONARY SPIRAL /ɪnˈfleɪʃəˌnɛri spaɪrəl/

08 Aug 2024

Noun

  • An inflationary spiral is when salaries and prices take turn to grow in short intervals.
Example Sentences: Recent rises in inflation are more likely to weaken consumer spending than lead to an inflationary spiral of higher salaries and prices.
 

REDUNDANCY PAYMENT /rɪˈdʌndənsi peɪmənt/

07 Aug 2024

Noun

  • A redundancy payment is what a company pays to workers who are no longer needed.
Example Sentences: How was your redundancy payment calculated?
After working for the company for 20 years, I received a very generous redundancy payment.
 

STANDING ORDER /stændɪŋ ɔrdər/

06 Aug 2024

Noun

  • A standing order is an instruction to a bank to pay some money at regular times to another bank account.
Example Sentence: The electricity company requires all its customers to settle their bills by standing order.
 

MERCHANT BANK /mɜrtʃənt bæŋk/

05 Aug 2024

Noun

  • A merchant bank is a bank involved with companies rather than with people.
Example Sentence: Agro National Bank is a merchant bank which specialises in lending to the farming industry.
 

UNEMPLOYMENT BENEFIT /ʌnɛmˈplɔɪmənt bɛnəfɪt/

04 Aug 2024

Noun

  • Unemployment benefit is regularly paid by the government to people who do not have a job.
Example Sentence: Over 2 million people in the United Kingdom receive unemployment benefit.
 

TRADE FAIR /treɪd fɛər/

03 Aug 2024

Noun

  • A trade fair is a large gathering at which companies show and sell their products.
Example Sentence: Singapore is currently holding an international trade fair for the IT industry.
 

BANK INTEREST RATE  

02 Aug 2024

Noun

  • A bank's interest rate is the amount that the bank charges on money that it lends you.
Example Sentence: My bank's interest rate on mortgages currently stands at 4.75%; its interest rate on savings is just 1.3%.
 

CONSUMER PRICE INDEX  

01 Aug 2024

Noun

  • The consumer price index is a measurement of the changes in the cost of basic goods and services.
Example Sentence: Analysts were forecasting that the Consumer Price Index would register a 0.4 percent increase for July when that figure is released on Wednesday.
 

NEST EGG /nɛst ɛg/

31 Jul 2024

Noun

  • A nest egg is a sum of money that has been saved or kept for a special purpose.
Example Sentence: Regular investment of small amounts of money is an excellent way of building a nest egg.
 

JOINT-VENTURE COMPANY  

30 Jul 2024

Noun

  • A joint-venture company is a company owned by two businesses which have joined together to share risk or expertise on a specific project or group of projects.
Example Sentence: In a bid to compete in the LED market, two Taiwanese companies from the mainstream silicon semiconductor business have established a joint-venture company.
 

LOAN SHARK /loʊn ʃɑrk/

29 Jul 2024

Phrase

  • A loan shark charges very large amounts for lending money to someone.
Example Sentence: The loan shark, Gary Mills, made his money by charging a massive 25% interest a week.
 

INTEREST /ɪntərɪst/

28 Jul 2024

Noun

  • the money a bank pays you for their use of your money, or the money you pay the bank for a loan.
Example Sentence: The interest rate on her savings account was higher than that on her checking account.
 

A STATEMENT /steɪtmənt/

27 Jul 2024

Noun

  • a record of transactions that a bank sends its customers, usually every month.
Example Sentence: The bank statement always arrived on the third of the month.
 

TO ISSUE A CREDIT CARD  

26 Jul 2024

Phrase

  • to give a credit card to a customer.
Example Sentence: The bank issues three kinds of credit cards.
 

SERVICE CHARGE OR BANK FEES  

25 Jul 2024

Noun

  • money that a customer pays a bank for an account or other services.
Example Sentence: There is no service charge if the account has a minimum balance of $1,500.
 
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