Business is the activity of making one's living or making money by producing or buying and selling products. Put, it is "any activity or enterprise entered into for profit, it does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates; the proprietor is taxed on all income from the business. The term is often used colloquially to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.
Forms of business ownership vary by jurisdiction, but several common entities exist: Sole proprietorship: A sole proprietorship known as a sole trader, is owned by one person and operates for their benefit. The owner may hire employees. A sole proprietor has unlimited liability for all obligations incurred by the business, whether from operating costs or judgments against the business. All assets of the business belong to a sole proprietor, for example, a computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor. Partnership: A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business; the three most prevalent types of for-profit partnerships are general partnerships, limited partnerships, limited liability partnerships. Corporation: The owners of a corporation have limited liability and the business has a separate legal personality from its owners.
Corporations can be either government-owned or owned, they can organize either for profit or as nonprofit organizations. A owned, for-profit corporation is owned by its shareholders, who elect a board of directors to direct the corporation and hire its managerial staff. A owned, for-profit corporation can be either held by a small group of individuals, or publicly held, with publicly traded shares listed on a stock exchange. Cooperative: Often referred to as a "co-op", a cooperative is a limited-liability business that can organize as for-profit or not-for-profit. A cooperative differs from a corporation in that it has members, not shareholders, they share decision-making authority. Cooperatives are classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy. Limited liability companies, limited liability partnerships, other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections.
In contrast, unincorporated businesses or persons working on their own are not as protected. Franchises: A franchise is a system in which entrepreneurs purchase the rights to open and run a business from a larger corporation. Franchising in the United States is widespread and is a major economic powerhouse. One out of twelve retail businesses in the United States are franchised and 8 million people are employed in a franchised business. A company limited by guarantee: Commonly used where companies are formed for non-commercial purposes, such as clubs or charities; the members guarantee the payment of certain amounts if the company goes into insolvent liquidation, but otherwise, they have no economic rights in relation to the company. This type of company is common in England. A company limited by guarantee may be without having share capital. A company limited by shares: The most common form of the company used for business ventures. A limited company is a "company in which the liability of each shareholder is limited to the amount individually invested" with corporations being "the most common example of a limited company."
This type of company is common in many English-speaking countries. A company limited by shares may be a publicly traded company or a held company A company limited by guarantee with a share capital: A hybrid entity used where the company is formed for non-commercial purposes, but the activities of the company are funded by investors who expect a return; this type of company may no longer be formed in the UK, although provisions still exist in law for them to exist. A limited liability company: "A company—statutorily authorized in certain states—that is characterized by limited liability, management by members or managers, limitations on ownership transfer", i.e. L. L. C. LLC structure has been called "hybrid" in that it "combines the characteristics of a corporation and of a partnership or sole proprietorship". Like a corporation, it has limited liability for members of the company, like a partnership, it has "flow-through taxation to the members" and must be "dissolved upon the death or bankruptcy of a member".
An unlimited company with or without a share capital: A hybrid entity, a company where the liability of members or shareholders for the debts of the company are not limited. In this case, the doctrine of a veil of incorporation does not apply. Less common types of companies are: Companies formed by letters patent: Most corpor
National Magazine Awards
The National Magazine Awards known as the Ellie Awards, honor print and digital publications that demonstrate superior execution of editorial objectives, innovative techniques, noteworthy enterprise and imaginative design. Limited to print magazines, the awards now recognize magazine-quality journalism published in any medium, they are sponsored by the American Society of Magazine Editors in association with Columbia University Graduate School of Journalism and are administered by ASME in New York City. The awards have been presented annually since 1966; the Ellie Awards are judged by magazine journalists and journalism educators selected by the administrators of the awards. More than 300 judges participate every year; each judge is assigned to a judging group. Each judging group chooses five finalists. Judging results are subject to the approval of the National Magazine Awards Board, composed of current and former officers of ASME, the dean of the Columbia University Graduate School of Journalism and veteran judges.
The current categories are: Finalists in each of the 20 Ellie Award categories receive certificates of recognition. The winner in each category receives a reproduction of Alexander Calder’s stabile "Elephant," the symbol of the awards since 1970. Among the notable changes for 2017 are the expansion of the Design and Photography categories to include digital entries and the suspension of the Fiction award. Honors print and digital magazines in six categories based on audience. Bloomberg Businessweek received the first award in 1973. No award was given from 1974 through 1980; when General Excellence returned as a category in 1981, it was given to four magazines per year until 1998, when five magazines received General Excellence awards. Six magazines received awards in 2002. From 2003 to 2010, the award went to eight. Since 2012, the award has gone to six magazines. Known as Visual Excellence. Honors overall excellence in print magazine design. Honors overall excellence in print magazine photography.
Known as Photo Portfolio/Photo Essay and Photo Portfolio. Honors the use of original photography in a feature story, photo-essay or photo portfolio. Honors magazines that have devoted a single issue to the comprehensive examination of one subject. No award was given in 2000 or 2001. Honors a published front- or back-of-the-book department or section. Known as Service to the Individual. Honors the use of print to serve aspirations. No award was given in 1981. Known as Special Interests. Honors the use of print to provide practical information about recreational activities and special interests. Honors magazine websites and online-only magazines. Known as Multimedia Feature or Package and Multimedia Package. Honors digital storytelling and the integration of magazine media. Honors the outstanding use of video by magazines published on digital platforms. Known as Public Service. Honors magazine journalism that illuminates issues of national importance. No award was given in 1973. Known as Reporting Excellence and New Reporting in 1988.
Honors reporting excellence as exemplified by a series of articles. Honors original, stylish storytelling. Incorporates Profile writing as of 2013. Category known as "Criticism & Belle-Lettres" and Essays. Honors "long-form journalism that presents the opinions of the writer on topics ranging from the personal to the political". Honors political and social commentary. Honors magazines for editorial excellence as demonstrated in print and on digital platforms for the quality and consistency of magazine-branded content and services produced by or associated with the publication, including but not limited to conferences and events. For the first four years of the National Magazine Awards, only one award was given. 1966 Look "for its skillful editing and editorial integrity, all of which were reflected in its treatment of the racial issue during 1965."1967 LIFE "in recognition of skillful and constructive editing as reflected in vivid photo reporting of the war in Vietnam, outstanding coverage of the civil rights issue, effective support for the preservation of great works of art—in keeping with an admirable tradition of public education on cultural subjects."1968 Newsweek "in recognition of that magazine's development of a new form of editorial analysis and advocacy in its major effort to present America's racial problems.
The'program of action,' published in Newsweek's issue of November 20, 1967, was a 23 page article combining reportage and opinion under the title'The Negro in America: What Must Be Done.' The judges considered the project labeled as a departure from Newsweek’s standard policy, to have been skillfully and responsibly executed. They consider it a useful and important form, when sparingly used, in the news magazine field."1969 American Machinist, a McGraw-Hill trade publication, recognized for its special issue, "Will John Garth Make It?" The study of U. S. industry’s role in combating unemployment among those that companies might consider unemployable, included Mr. Garth, a 26-year-old high school dropout and parolee. Identifying one winner was no doubt a challenge for the judges in the first years of the National Magazine
International Standard Serial Number
An International Standard Serial Number is an eight-digit serial number used to uniquely identify a serial publication, such as a magazine. The ISSN is helpful in distinguishing between serials with the same title. ISSN are used in ordering, interlibrary loans, other practices in connection with serial literature; the ISSN system was first drafted as an International Organization for Standardization international standard in 1971 and published as ISO 3297 in 1975. ISO subcommittee TC 46/SC 9 is responsible for maintaining the standard; when a serial with the same content is published in more than one media type, a different ISSN is assigned to each media type. For example, many serials are published both in electronic media; the ISSN system refers to these types as electronic ISSN, respectively. Conversely, as defined in ISO 3297:2007, every serial in the ISSN system is assigned a linking ISSN the same as the ISSN assigned to the serial in its first published medium, which links together all ISSNs assigned to the serial in every medium.
The format of the ISSN is an eight digit code, divided by a hyphen into two four-digit numbers. As an integer number, it can be represented by the first seven digits; the last code digit, which may be 0-9 or an X, is a check digit. Formally, the general form of the ISSN code can be expressed as follows: NNNN-NNNC where N is in the set, a digit character, C is in; the ISSN of the journal Hearing Research, for example, is 0378-5955, where the final 5 is the check digit, C=5. To calculate the check digit, the following algorithm may be used: Calculate the sum of the first seven digits of the ISSN multiplied by its position in the number, counting from the right—that is, 8, 7, 6, 5, 4, 3, 2, respectively: 0 ⋅ 8 + 3 ⋅ 7 + 7 ⋅ 6 + 8 ⋅ 5 + 5 ⋅ 4 + 9 ⋅ 3 + 5 ⋅ 2 = 0 + 21 + 42 + 40 + 20 + 27 + 10 = 160 The modulus 11 of this sum is calculated. For calculations, an upper case X in the check digit position indicates a check digit of 10. To confirm the check digit, calculate the sum of all eight digits of the ISSN multiplied by its position in the number, counting from the right.
The modulus 11 of the sum must be 0. There is an online ISSN checker. ISSN codes are assigned by a network of ISSN National Centres located at national libraries and coordinated by the ISSN International Centre based in Paris; the International Centre is an intergovernmental organization created in 1974 through an agreement between UNESCO and the French government. The International Centre maintains a database of all ISSNs assigned worldwide, the ISDS Register otherwise known as the ISSN Register. At the end of 2016, the ISSN Register contained records for 1,943,572 items. ISSN and ISBN codes are similar in concept. An ISBN might be assigned for particular issues of a serial, in addition to the ISSN code for the serial as a whole. An ISSN, unlike the ISBN code, is an anonymous identifier associated with a serial title, containing no information as to the publisher or its location. For this reason a new ISSN is assigned to a serial each time it undergoes a major title change. Since the ISSN applies to an entire serial a new identifier, the Serial Item and Contribution Identifier, was built on top of it to allow references to specific volumes, articles, or other identifiable components.
Separate ISSNs are needed for serials in different media. Thus, the print and electronic media versions of a serial need separate ISSNs. A CD-ROM version and a web version of a serial require different ISSNs since two different media are involved. However, the same ISSN can be used for different file formats of the same online serial; this "media-oriented identification" of serials made sense in the 1970s. In the 1990s and onward, with personal computers, better screens, the Web, it makes sense to consider only content, independent of media; this "content-oriented identification" of serials was a repressed demand during a decade, but no ISSN update or initiative occurred. A natural extension for ISSN, the unique-identification of the articles in the serials, was the main demand application. An alternative serials' contents model arrived with the indecs Content Model and its application, the digital object identifier, as ISSN-independent initiative, consolidated in the 2000s. Only in 2007, ISSN-L was defined in the
The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s. The scale and timing of the recession varied from country to country; the International Monetary Fund concluded that the overall impact was the most severe since the Great Depression of the 1930s. The Great Recession stemmed from the collapse of the United States real-estate market in relation to the global financial crisis of 2007 to 2008 and the U. S. subprime mortgage crisis of 2007 to 2009. According to the nonprofit National Bureau of Economic Research, the recession in the U. S. ended in June 2009, thus extending over 19 months. The Great Recession resulted in a scarcity of valuable assets in the market economy and the collapse of the financial sector in the world economy. S. federal government. The recession was not felt around the world. Two senses of the word "recession" exist: one sense referring broadly to "a period of reduced economic activity" and ongoing hardship.
Under the academic definition, the recession ended in the United States in June or July 2009. Robert Kuttner argues, “’The Great Recession,’ is a misnomer. We should stop using it. Recessions are mild dips in the business cycle that are either self-correcting or soon cured by modest fiscal or monetary stimulus; because of the continuing deflationary trap, it would be more accurate to call this decade's stagnant economy The Lesser Depression or The Great Deflation." The Great Recession met the IMF criteria for being a global recession only in the single calendar year 2009. That IMF definition requires a decline in annual real world GDP per‑capita. Despite the fact that quarterly data are being used as recession definition criteria by all G20 members, representing 85% of the world GDP, the International Monetary Fund has decided—in the absence of a complete data set—not to declare/measure global recessions according to quarterly GDP data; the seasonally adjusted PPP‑weighted real GDP for the G20‑zone, however, is a good indicator for the world GDP, it was measured to have suffered a direct quarter on quarter decline during the three quarters from Q3‑2008 until Q1‑2009, which more mark when the recession took place at the global level.
According to the U. S. National Bureau of Economic Research the recession began in December 2007 and ended in June 2009, thus extended over eighteen months; the years leading up to the crisis were characterized by an exorbitant rise in asset prices and associated boom in economic demand. Further, the U. S. shadow banking system had grown to rival the depository system yet was not subject to the same regulatory oversight, making it vulnerable to a bank run. US mortgage-backed securities, which had risks that were hard to assess, were marketed around the world, as they offered higher yields than U. S. government bonds. Many of these securities were backed by subprime mortgages, which collapsed in value when the U. S. housing bubble burst during 2006 and homeowners began to default on their mortgage payments in large numbers starting in 2007. The emergence of sub-prime loan losses in 2007 began the crisis and exposed other risky loans and over-inflated asset prices. With loan losses mounting and the fall of Lehman Brothers on September 15, 2008, a major panic broke out on the inter-bank loan market.
There was the equivalent of a bank run on the shadow banking system, resulting in many large and well established investment and commercial banks in the United States and Europe suffering huge losses and facing bankruptcy, resulting in massive public financial assistance. The global recession that followed resulted in a sharp drop in international trade, rising unemployment and slumping commodity prices. Several economists predicted that recovery might not appear until 2011 and that the recession would be the worst since the Great Depression of the 1930s. Economist Paul Krugman once commented on this as the beginning of "a second Great Depression". Governments and central banks responded with fiscal and monetary policies to stimulate national economies and reduce financial system risks; the recession has renewed interest in Keynesian economic ideas on how to combat recessionary conditions. Economists advise that the stimulus should be withdrawn as soon as the economies recover enough to "chart a path to sustainable growth".
The distribution of household incomes in the United States has become more unequal during the post-2008 economic recovery. Income inequality in the United States has grown from 2005 to 2012 in more than 2 out of 3 metropolitan areas. Median household wealth fell 35% in the US, from $106,591 to $68,839 between 2005 and 2011; the majority report provided by U. S. Financial Crisis Inquiry Commission, composed of six Democratic and four Republican appointees, reported its findings in January 2011, it concluded that "the crisis was avoidable and was caused by: Widespread failures in financial regulation, including the Federal Reserve's failure to stem the tide of toxic mortgages.
Super Micro Computer, doing business as Supermicro, is an information technology company based in San Jose, California. Supermicro's headquarters are located in Silicon Valley, with a manufacturing space in the Netherlands and a Science and Technology Park in Taiwan. Founded by Charles Liang, Wally Liaw and Sara Liu on November 1, 1993, Supermicro specializes in servers, blades, rack solutions, networking devices, server management software and high-end workstations for data center, cloud computing, enterprise IT, big data, high performance computing, embedded markets. In 2016, the company deployed thousands of servers into a single data center and was ranked the 18th fastest growing company on Fortune Magazine’s Top 100 list of the world’s largest US publicly traded companies in 2016 and the fastest growing IT infrastructure company. In September 2014, Supermicro moved its corporate headquarters to the former Mercury News headquarters in North San Jose, California along Interstate 880, naming the campus Supermicro Green Computing Park.
In 2017, the company completed a new 182,000 square-foot manufacturing building on the campus. The main building was designed by Warren B. Heid in the modernist style, common for commercial buildings in the 1960s, built by the Carl N. Swenson Company. During the time it served as the Mercury News's headquarters, the main building was expanded from 185,000-square-foot to 312,000 square feet; until a bronze sculpture, Chandelier by John Jagger, hung from the ceiling of an elliptical loggia at the entrance. The loggia is distinguished by the moat that surrounds it. On October 4, 2018, Bloomberg Businessweek published a report, citing unnamed corporate and governmental sources, which claimed that the Chinese People's Liberation Army had forced Supermicro's Chinese sub-contractors to add microchips with hardware backdoors to its servers; the report claimed that the compromised servers had been sold to U. S. government divisions and contractors and at least 30 commercial clients. The backdoor was discovered by Amazon during a review of Elemental Technologies, a Supermicro client that Amazon would acquire in 2015.
Supermicro denied the report, stating that they had not been contacted by government agencies and were unaware of any investigation. Amazon and Apple denied the Bloomberg claims, the article has faced skepticism over its validity. One of its named sources stated that the attack detailed seemed theoretical and that he "couldn't rationalize in head that this is the approach that anyone could take." FBI director Christopher A. Wray, in testimony before the U. S. Senate Homeland Security and Governmental Affairs Committee, commented, "Be careful what you read." On October 22 Supermicro announced that "despite the lack of any proof that a malicious hardware chip exists" it was reviewing its motherboards for potential spy chips in response to the article. On October 9, 2018, Bloomberg issued a second report, alleging that Supermicro-manufactured datacenter servers of an unnamed U. S. telecom firm had been compromised by a hardware implant on an Ethernet connector. The report cited former Israel intelligence officer Yossi Appleboum, who had analyzed and documented the implant.
The Bloomberg report did not connect these findings to the previous report. Appleboum has since said that his company had found such implants "...in different vendors, not just Supermicro..."On October 22, 2018, the Wall Street Journal reported that Supermicro had filed a letter with the Securities and Exchange Commission telling customers that it was "confident" that "no malicious hardware chip had been implanted" during the manufacture of its motherboards. It was reported that the chief executives of Apple and Amazon Web Services rejected claims about the reports regarding hardware backdoors in Supermicro chips. In 2014 the GCIC Center Tokyo Institute of Technology’s TSUBAME-KFC supercomputer, from Supermicro, was ranked first on the Green 500 list; the company's newly-constructed manufacturing facility in San Jose was designed to meet LEED gold certification. Official website
A business school is a university-level institution that confers degrees in business administration or management. According to Kaplan business schools are "educational institutions that specialize in teaching courses and programs related to business and/or management"; such a school can be known as school of management, school of business administration, or colloquially b-school or biz school. A business school teaches topics such as accounting, strategy, entrepreneurship, human resource management, management science, management information systems, international business, marketing, organizational psychology, organizational behavior, public relations, research methods and real estate among others. There are several forms of business schools, including a school of business, business administration, management. Most of the university business schools consist of faculties, colleges, or departments within the university, predominantly teach business courses. In North America, a business school is understood to be a university program that offers a graduate Master of Business Administration degrees and/or undergraduate bachelor's degrees.
In Europe and Asia, some universities teach predominantly business courses. Owned business school, not affiliated with any university. Kaplan classifies business schools along four Corners: Culture: Independent of their actual location, business schools can be classified according to whether they follow the European or the US model. Compass: Business schools can be classified along a continuum, with international/ global schools on one end and regional/ local schools on the other. Capital: Business schools can either be publicly funded or funded, for example through endowments or tuition fees. Content: Business school can be classified according to whether a school considers teaching or research to be its primary focus. 1759 – The Aula do Comércio in Lisbon was the first institution to specialise in the teaching of accounting in the world. It provided a model for development of similar government-sponsored schools across Europe, closed in 1844. Therefore, the Aula do. 1819 -- The world's first business school, ESCP Europe was in France.
It is the oldest business school in the world and now has campuses in Berlin, Madrid, Paris and Warsaw. 1855 – The Institut Supérieur de Commerce d'Anvers and the Institut Saint-Ignace – École Spéciale de Commerce et d'Industrie were founded in the same year in the city of Antwerp, Belgium. After getting university status in 1965 and after 150 years of business education and rivalry between each other, both merged in 2003 into what became the University of Antwerp. 1857 – The world's first public business school, Budapest Business School was founded in Budapest in Austria-Hungary as the first business school in Central Europe. 1868 – The Ca' Foscari University was founded in Venice. It is one of the oldest in the world. 1871 – The Rouen Business School which has merged with Reims Management School under the name of NEOMA Business School. Rouen Business School is the second oldest French business school. 1871 – The ESC Le Havre was created. Created the same year than Rouen Business School it is the second oldest French business school.
1881 – The Wharton School of the University of Pennsylvania is the United States' first business school. HEC Paris was established by the Paris Chamber of Commerce. 1892 – The ESC Lille in northern France which has mergered with CERAM Business School under the name of Skema Business School since 2009. 1898 – On the west coast Haas School of Business is established as the College of Commerce of the University of California with Carl Copping Plehn as the Dean in 1898 and became the first public business school. The Booth School of Business The University of Chicago Booth School of Business traces its beginnings to 1898 when university faculty member James Laurence Laughlin chartered the College of Commerce and Politics. 1898 – Handelshochschule Leipzig, today Leipzig Graduate School of Management, was founded as the first Business School in Germany, so it is the oldest university teaching economics in German speaking regions. 1898 – The University of St. Gallen established the first university in Switzerland teaching business and economics.
1900 – The first graduate school of business in the United States, the Tuck School of Business at Dartmouth College, was founded. The school conferred the first advanced degree in business a Master of Science in Commercial Sciences, the predecessor to the MBA. 1902 – The Birmingham Business School of University of Birmingham is the United Kingdom's first business school. Established as the School of Commerce in Birmingham, United Kingdom. 1903 – The Solvay Brussels School of Economics and Management of Université Libre de Bruxelles is the Belgium's first business school created by an entrepreneur Ernest Solvay, founder of the chemistry company Solvay. 1906 – The Department of Commerce was founded as part of McGill University in Montreal, Canada developing into the Desautels Faculty of Management. 1906 – The Warsaw School of Economics was established as the first university in Poland dedicated to teaching commerce and economics. 1907 – HEC Montréal is founded in Montreal, being the first Schoo
The Financial Times is an English-language international daily newspaper owned by Nikkei Inc, headquartered in London, with a special emphasis on business and economic news. The paper was founded in 1888 by James Sheridan and Horatio Bottomley, merged in 1945 with its closest rival, the Financial News; the Financial Times has over 740,000 digital subscribers. On 23 July 2015, Nikkei Inc. agreed to buy the Financial Times from Pearson for £844m and the acquisition was completed on 30 November 2015. The FT was launched as the London Financial Guide on 10 January 1888, renaming itself the Financial Times on 13 February the same year. Describing itself as the friend of "The Honest Financier, the Bona Fide Investor, the Respectable Broker, the Genuine Director, the Legitimate Speculator", it was a four-page journal; the readership was the financial community of the City of London, its only rival being the older and more daring Financial News. On 2 January 1893 the FT began printing on light salmon-pink paper to distinguish it from the named Financial News: at the time it was cheaper to print on unbleached paper, but nowadays it is more expensive as the paper has to be dyed specially.
After 57 years of rivalry the Financial Times and the Financial News were merged in 1945 by Brendan Bracken to form a single six-page newspaper. The Financial Times brought a higher circulation while the Financial News provided much of the editorial talent; the Lex column was introduced from Financial News. Pearson bought the paper in 1957. Over the years the paper grew in size and breadth of coverage, it established correspondents in cities around the world, reflecting a renewed impetus in the world economy towards globalisation. As cross-border trade and capital flows increased during the 1970s, the FT began international expansion, facilitated by developments in technology and the growing acceptance of English as the international language of business. On 1 January 1979 the first FT was printed in Frankfurt. Since with increased international coverage, the FT has become a global newspaper, printed in 22 locations with five international editions to serve the UK, continental Europe, the U. S.
Asia and the Middle East. The European edition is distributed in continental Africa, it is printed Monday to Saturday at five centres across Europe reporting on matters concerning the European Union, the Euro and European corporate affairs. In 1994 FT launched a luxury lifestyle magazine. In 2009 it launched a standalone website for the magazine. On 13 May 1995 the Financial Times group made its first foray into the online world with the launch of FT.com. This provided a summary of news from around the globe, supplemented in February 1996 with stock price coverage; the site was funded by advertising and contributed to the online advertising market in the UK in the late 1990s. Between 1997 and 2000 the site underwent several revamps and changes of strategy, as the FT Group and Pearson reacted to changes online. FT introduced subscription services in 2002. FT.com is one of the few UK news sites funded by individual subscription. In 1997 the FT launched a U. S. edition, printed in New York, Los Angeles, San Francisco, Atlanta and Washington, D.
C. although the newspaper was first printed outside New York City in 1985. In September 1998 the FT became the first UK-based newspaper to sell more copies internationally than within the UK. In 2000 the Financial Times started publishing a German-language edition, Financial Times Deutschland, with a news and editorial team based in Hamburg, its initial circulation in 2003 was 90,000. It was a joint venture with a German publishing firm, Gruner + Jahr. In January 2008 the FT sold its 50% stake to its German partner. FT Deutschland never made a profit and is said to have accumulated losses of €250 million over 12 years, it closed on 7 December 2012. The Financial Times launched a new weekly supplement for the fund management industry on 4 February 2002. FT fund management was and still is distributed with the paper every Monday. FTfm is the world's largest-circulation fund management title. Since 2005 the FT has sponsored the annual"Financial Times" and Goldman Sachs Business Book of the Year Award.
On 23 April 2007 the FT unveiled a "refreshed" version of the newspaper and introduced a new slogan, "We Live in Financial Times."In 2007 the FT pioneered a metered paywall, which lets visitors to its site read a limited number of free articles during any one month before asking them to pay. Four years the FT launched its HTML5 mobile internet app. Smartphones and tablets now drive 19 % of traffic to FT.com. In 2012 the number of digital subscribers surpassed the circulation of the newspaper for the first time and the FT drew half of its revenue from subscriptions rather than advertising. Since 2010 the FT has been available on Bloomberg Terminal. Since 2013 the FT has been available on Wisers platform. In 2016, the Financial Times acquired a controlling stake in Alpha Grid, a London-based media company specialising in the development and production of quality branded content across a range of channels, including broadcast, digital and events. In 2018, the Financial Times acquired a controlling stake in Longitude, a specialist provider of thought leadership and research services to a multinational corporate and institutional client base.
This investment builds on the Financial Times’ recent growth in sev