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Business English News 52 – ChatGPT

Business English, Business English Vocabulary, Business News, IT and Tech / February 26, 2023

In this Business English News lesson we look at business English vocabulary related to artificial intelligence and ChatGPT.

For a while, it seemed like the hype around artificial intelligence had died down. But a recent development in AI has taken the world by storm. It’s called ChatGPT, and unless you live in a cave, you’ve surely heard about it. But what exactly is it? As the Guardian explains:

Trained by AI and machine learning, ChatGPT is designed to provide information and answer questions through a conversational interface. OpenAI said the new AI was created with a focus on ease of use. “The dialog format makes it possible for ChatGPT to answer follow-up questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.”

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Business English News 51 – Energy Costs

Business English, Business English Vocabulary, Business News, ESL Podcast / October 23, 2022

In this Business English News lesson we look at business English vocabulary related to energy costs.

Consumers around the world are feeling the pinch as inflation bites. And it’s not just at the grocery store. Prices are going up across the board. A key factor driving this rampant inflation is the cost of energy, which impacts all industries and translates into even higher prices for the average consumer.

A global surge in wholesale power and gas prices means households across Europe face higher energy bills this year and beyond. In the worst-case scenario, many of the region’s most vulnerable are facing fuel poverty according to consumer groups. Prices started to rise above historical levels last September and have soared further this year.

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Business English News 50 – Streaming TV Services

Business English, Business English Vocabulary, Business News, ESL Podcast / June 5, 2022

In this Business English News lesson we look at business English vocabulary related to streaming TV services.

The pandemic battered many industries, including entertainment. But when theaters, concert venues, and museums shut down, the streaming wars ramped up. Besides Netflix, Disney, Amazon Prime, and Apple TV signed up thousands of new subscribers a day. In the dying days of the pandemic, however, the question has become whether they can keep them. For Netflix, the king of streaming, the news in 2022 hasn’t been good, as Gizmodo explains:

The most popular streaming service in the world reported on its Q1 earnings call that it had lost 200,000 subscribers where it originally expected to gain 2.5 million. It forecast doom and gloom for next quarter as well, with a predicted loss of two million more. The company has started laying off employees and shutting down productions in order to stave off further declines.

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Business English News 49 – Inflation and Interest Rates

Business English, Business English Vocabulary, Business News, Finance and Accounting / January 30, 2022

In this Business English News lesson we look at business English vocabulary related to the economy, particularly the relationship between inflation and interest rates.

Government spending throughout 2021 was a boon to the business sector. Jobs returned, production rose, and many countries ended the year on a positive note. But growth – and years of low interest rates – has raised the specter of inflation, or rising prices. Now all eyes are on central banks, especially in the United Stated, to see how they’ll respond. As the NY Times reports:

Federal Reserve policymakers have moved into inflation-fighting mode saying they would cut back more quickly on their pandemic-era stimulus at a moment of rising prices and strong economic growth. This move will cap a challenging year with a policy shift that could usher in higher interest rates in 2022.

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Business English News 48 – Cryptocurrency

Business English, Business English Vocabulary, Business News, IT and Tech / August 29, 2021

In this Business English News lesson we look at business English vocabulary related to cryptocurrency.

You’ve probably heard stories of young investors lured by the promise of quick gains in the world of “crypto,” or cryptocurrency. And while it’s Bitcoin that gets the lion’s share of attention, there are over 10,000 digital currencies in use today. There’s the big names, like Ethereum, Binance, and Ripple. And then there’s currencies like Dogecoin and Loser Coin, which started as jokes. If you’re confused by the hype, you’re not alone. So just what is cryptocurrency? According to Investopedia:

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

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