In the red – if a company is “in the red”, it means it is not profitable and is operating at a loss.

Keep one’s eye on the ball – give something one’s full attention and to not lose focus.

Last straw – the last annoyance, disturbance, or betrayal which causes someone to give up, lose  patience, or become angry.  Example: Our boss has been unhappy with John’s performance for a while, but it was the last straw when he came to work 3 hours late without calling.

Long shot – something that has a very low chance of happening.  Example: Winning the lottery is a long shot, but millions of people still buy lottery tickets.

Loophole – a legal loophole occurs if a law is unclear or omits information. 

Lose ground: to lose some type of advantage to a competitor.  Example: Apple lost some ground to Samsung last quarter.

No strings attached – something is given without expecting anything in return. Example:  They will let you try the product for free with no strings attached.  If you don’t like it, there is no pressure to buy it.