VIII. Translate the following text from English into Russian.

Financial PR is often referred to as investor relations. It requires detailed knowledge of financial markets and the legal requirements for public disclosure of financial information by companies. In addition, a well-developed understanding of investor psychology and the means of communicating with investors and advisors is necessary.

The specialists engaged in financial PR are often said to be at the financial end of the communication function rather than at the communications end of the financial function. In any case, detailed, precise and strict rules are imposed by the Stock Exchange, governing public quoted companies.

Every development affecting a company's worth and its financial performance must be disclosed at the earliest opportunity. This is obviously ‘price-sensitive’ information calling for delicate and specialist PR handling. One of the most difficult aspects of financial PR is encountered when a firm is involved in a take-over.

A precise strategy for dealing with financially sensitive information has to be agreed and executed. Take-overs, mergers and management buy-outs have often been avoided (and facilitated) by skilful PR and most big companies now have a crisis management PR plan worked out.

Another area for careful financial PR occurs when a company turns in poor yearly (or half-yearly) figures, particularly when these are unexpected. Company management are often in the firing line and credibility, confidence and staff morale are often in question. Here PR executives must be ready with answers to clarify the bad news. The main rule of thumb is that answers must be restricted to what has already been said to the shareholders (who are legally entitled to hear it first).

The main way in which financial public relations differs from other forms of PR is that the 'product' is a very sensitive one. Fortunes, careers, company ownerships and share prices are all at stake. PR activities need to be diplomatic and legal. Whereas ‘ordinary’ PR may welcome maximum media coverage, in financial PR this could cause a market stampede, a share-price crash, produce allegations of insider dealing and so on.

(Jefkinshttp://nwapa.spb.ru/ftxt/0310/chapter_6.html RR http://– Ch. 9 p.p.115-123)