Electricity generation
Electricity generation is the process of generating electric power from sources of primary energy. For electric utilities in the electric power industry, it is the first stage in the delivery of electricity to end users, the other stages being transmission, energy storage and recovery, using the pumped-storage method. A characteristic of electricity is that it is not a primary energy present in nature in remarkable amounts and it must be produced. Production is carried out in power stations. Electricity is most generated at a power plant by electromechanical generators driven by heat engines fueled by combustion or nuclear fission but by other means such as the kinetic energy of flowing water and wind. Other energy sources include geothermal power; the fundamental principles of electricity generation were discovered in the 1820s and early 1830s by British scientist Michael Faraday. His method, still used today, is for electricity to be generated by the movement of a loop of wire, or disc of copper between the poles of a magnet.
Central power stations became economically practical with the development of alternating current power transmission, using power transformers to transmit power at high voltage and with low loss. In 1870, commercial electricity production started with the coupling of the dynamo to the hydraulic turbine. In 1870, the mechanical production of electric power began the Second Industrial Revolution and created inventions using the energy, whose major contributors were Thomas Alva Edison and Nikola Tesla; the only way to produce electricity was by chemical reactions or using battery cells, the only practical use of electricity was for the telegraph. Electricity generation at central power stations started in 1882, when a steam engine driving a dynamo at Pearl Street Station produced a DC current that powered public lighting on Pearl Street, New York; the new technology was adopted by many cities around the world, which adapted their gas-fueled street lights to electric power, soon after electric lights would be used in public buildings, in businesses, to power public transport, such as trams and trains.
The first power plants used water coal. The use of power-lines and power-poles has been important in the distribution of electricity. Several fundamental methods exist to convert other forms of energy into electrical energy; the triboelectric effect, piezoelectric effect, direct capture of the energy of nuclear decay Betavoltaics are used in niche applications, as is direct conversion of heat to electric power in the thermoelectric effect. Utility-scale generation is done by photovoltaic systems. A small proportion of electric power distributed by utilities is provided by batteries. Electric generators transform kinetic energy into electricity; this is based on Faraday's law. It can be seen experimentally by rotating a magnet within closed loops of a conducting material. All commercial electrical generation is done using electromagnetic induction, in which mechanical energy forces a generator to rotate: Electrochemistry is the direct transformation of chemical energy into electricity, as in a battery.
Electrochemical electricity generation is important in mobile applications. Most electrochemical power comes from batteries. Primary cells, such as the common zinc–carbon batteries, act as power sources directly, but secondary cells are used for storage systems rather than primary generation systems. Open electrochemical systems, known as fuel cells, can be used to extract power either from natural fuels or from synthesized fuels. Osmotic power is a possibility at places where fresh water merge; the photovoltaic effect is the transformation of light into electrical energy, as in solar cells. Photovoltaic panels convert sunlight directly to electricity. Although sunlight is free and abundant, solar power electricity is still more expensive to produce than large-scale mechanically generated power due to the cost of the panels. Low-efficiency silicon solar cells have been decreasing in cost and multijunction cells with close to 30% conversion efficiency are now commercially available. Over 40% efficiency has been demonstrated in experimental systems.
Until photovoltaics were most used in remote sites where there is no access to a commercial power grid, or as a supplemental electricity source for individual homes and businesses. Recent advances in manufacturing efficiency and photovoltaic technology, combined with subsidies driven by environmental concerns, have accelerated the deployment of solar panels. Installed capacity is growing by 40% per year led by increases in Germany and the United States; the selection of electricity production modes and their economic viability varies in accordance with demand and region. The economics vary around the world, resulting in widespread selling prices, e.g. the price in Venezuela is 3 cents per kWh while in Denmark it is 40 cents per kWh. Hydroelectric plants, nuclear power plants, thermal power plants and renewable sources have their own pros and cons, selection is based upon the local power requirement and the fluctuations in demand. All power grids have varying loads on them but the daily minimum is the base load, supplied by plants which run continuously.
Nuclear, coal and gas plants can supply base load. Thermal energy is economical in ar
Darlington (UK Parliament constituency)
Darlington is the parliamentary constituency for the market town of the same name in County Durham in the North East of England. It is represented in the House of Commons of the UK Parliament by Jenny Chapman of the Labour Party, who first became its MP in 2010, is regarded as a semi-marginal Labour seat; the constituency was created for the 1868 election and covers the market town of Darlington in County Durham. The seat has been held by all three major parties in its long existence, but has been a marginal constituency between the Labour and Conservative parties in the years since the Second World War. Labour have held the seat since 1992 with their candidate Jenny Chapman winning the seat in 2010 with a 3,388 majority down from 10,404 in the previous election. In 2015, her majority over the Conservatives fell to 3,158. 1918-1983: The County Borough of Darlington. 1983-2010: The Borough of Darlington wards of Bank Top, Cockerton East, Cockerton West, Eastbourne North, Eastbourne South, Harrowgate Hill, Haughton East, Haughton West, Lascelles, Mowden, Northgate North, Northgate South, North Road, Park East, Park West, Pierremont.
2010-present: The Borough of Darlington wards of Bank Top, Cockerton East, Cockerton West, Eastbourne, Harrowgate Hill, Haughton East, Haughton North, Haughton West, Lascelles, Mowden, North Road, Park East, Park West, Pierremont. In the 2015 election, 89 ballot papers were issued omitting the UKIP candidate before the error was corrected. Pease's death causes a by-election. General Election 1914/15: Another General Election was required to take place before the end of 1915; the political parties had been making preparations for an election to take place and by the July 1914, the following candidates had been selected.
United Rentals
United Rentals, Inc. is the largest equipment rental company in North America, with about 11.4 percent of the region's market share. It owns the largest rental fleet in the world, has a workforce of 14,800 employees, operates 997 locations across 49 U. S. states and 10 Canadian provinces. In 2017, United Rentals' revenue totaled more than $6.64 billion, with over $1.35 billion in profit. It is ranked #424 on the Fortune 500, #1183 on the Forbes Global 2000 list of the world's largest public companies. URI was founded in 1997 by Bradley Jacobs and grew through acquisition, it offers general and specialty rentals to a customer base that includes construction and industrial companies. In addition to rentals, the company offers new and used equipment sales and safety training. United Rentals is led by Michael J. Kneeland, Matthew Flannery, William B. Plummer, it is headquartered in Connecticut. United Rentals is a provider of construction and industrial equipment: trucks, earth movers, aerial work platforms, homeowner equipment, similar devices.
Together, these are considered general and aerial rentals, they make up the bulk of URI's rental fleet and customer base. The company rents equipment in five specialty fields: Trench safety includes shoring equipment for excavation in confined spaces and below-ground construction sites, the training necessary to safely handle such equipment. Power & HVAC includes mobile climate control; these devices are used during commercial renovations, on television and movie sets, or in response to natural disasters. Tool solutions involve renting out trailers stocked with supplies, they are used at large constructions sites or during refinery shutdowns. Fluid solutions include the devices and supplies necessary for transferring, containing or removing liquids, they tend to have applications in agriculture. Onsite services involve the renting of portable toilets and restroom trailers. United Rentals was founded in September 1997. Then-chairman and CEO Bradley Jacobs planned to grow the company through acquisition and consolidation, beginning in October 1997 with six small leasing companies scattered across North America.
In December 1997, three months after forming, United Rentals began trading on the New York Stock Exchange under the symbol URI. In June 1998, it acquired U. S. Rentals, Inc. for a sum variously reported as $1.2 billion and $1.31 billion. The acquisition made. On December 26, 2006, United Rentals announced the sale of their Highway Technology division to HTS Acquisition, Inc. On July 23, 2007, United Rentals announced a definitive agreement to sell itself to Cerberus Capital Management in a transaction valued at $6.6 billion, including the assumption of $2.6 billion in debt obligations. URI's board of directors approved the merger agreement and recommended that stockholders do the same. On November 15, 2007, the company announced that Cerberus was not prepared to proceed with the purchase on the terms set forth in its merger agreement. Cerberus confirmed that there had not been a material adverse change at United Rentals, which would have let it bow out of the deal without penalty. On December 21, 2007, a Delaware Chancery Court ruling denied United Rentals' attempt to force Cerberus to follow through on the takeover bid.
However, the court did order Cerberus to pay the $100 million termination fee stipulated in the original agreement. On December 16, 2011, United Rentals and RSC Holdings, Inc. announced that they had entered into a definitive merger agreement, under which United Rentals would acquire RSC in a cash-and-stock transaction. The largest merger in rental equipment history was finalized on April 30, 2012, boosting URI to what was at the time a 13 percent market share of the equipment rental industry. In 2013, United Rentals moved its headquarters from Connecticut to Stamford, Connecticut. On March 9, 2014, the company announced plans to acquire National Pump for $780 million; this made United Rentals the second-largest pump rental company in North America. The transaction was finalized on March 31, 2014. In June 2014, United Rentals was first listed on the Fortune 500. Based on its 2013 revenues of $4.955 billion, the company was ranked 500th. It had made it as high as 517 in 2002, before falling back down.
On September 19, 2014, URI was added to the S&P 500 Index. On January 25, 2017, United Rentals announced the purchase of NES Rentals, a competing general equipment rentals company, for $965 million, it completed the acquisition on April 3, 2017. On August 22, 2017, United Rentals announced it had acquired all power generation assets mobile generator sets, from Cummins Inc. To maintain fleet and customer service continuity, a small number of Cummins employees joined United Rentals. On October 2, 2017, United Rentals announced it had completed the acquisition of Neff Corporation, a competing general equipment rentals company, for $1.3 billion. In the transaction, United Rentals acquired $867 million in equipment and Neff's 69 rental facility locations in the United States. On October 4, 2017, United Rentals announced it had acquired the assets of Superior Speedie Portable Services, Inc. and Superior Logistics Services, Inc. which includes a fleet of over 8,000 portable toilets and over 130 restroom trailers.
This new specialty division is named United Rentals Reliable Onsite Services. On July 2, 2018, United Rentals
Ticker symbol
A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of numbers or a combination of both. "Ticker symbol" refers to the symbols. Stock symbols are unique identifiers assigned to each security traded on a particular market. A stock symbol can consist of letters, numbers, or a combination of both, is a way to uniquely identify that stock; the symbols were kept as short as possible to reduce the number of characters that had to be printed on the ticker tape, to make it easy to recognize by traders and investors. The allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are between 1 and 4 letters and represent the company name where possible. For example, US-based computer company stock Apple Inc. traded on the NASDAQ exchange has the symbol AAPL, while the motor company Ford's stock, traded on the New York Stock Exchange has the single-letter ticker F.
In Europe, most exchanges use three-letter codes, for example Dutch consumer goods company Unilever traded on the Amsterdam Euronext exchange has the symbol UNA. While in Asia, numbers are used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBC's stock traded on the Hong Kong Stock Exchange has the ticker symbol 0005. Symbols sometimes change to reflect mergers. Prior to the 1999 merger with Mobil Oil, Exxon used a phonetic spelling of the company "XON" as its ticker symbol; the symbol of the firm after the merger was "XOM". Symbols are sometimes reused. In the US the single-letter symbols are sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V, used by Vivendi which had delisted and given up the symbol. To qualify a stock, both the ticker and the exchange or country of listing needs to be known. On many systems both must be specified to uniquely identify the security; this is done by appending the location or exchange code to the ticker.
Although stock tickers identify a security, they are exchange dependent limited to stocks and can change. These limitations have led to the development of other codes in financial markets to identify securities for settlement purposes; the most prevalent of these is the International Securities Identifying Number. An ISIN uniquely identifies a security and its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, commercial paper and warrants; the ISIN code is a 12-character alpha-numerical code that does not contain information characterizing financial instruments, but serves for uniform identification of a security at trading and settlement. The ISIN identifies not the exchange on which it trades. For instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, is priced in five different currencies. ISIN cannot specify a particular trade in this case, another identifier the three- or four-letter exchange code will have to be specified in addition to the ISIN.
While a stock ticker identifies a security that can be traded, stock market indices are sometimes assigned a symbol though they can not be traded. Symbols for indices are distinguished by adding a symbol in front of the name, such as a caret or a dot. For example, Reuters lists the Nasdaq Composite index under the symbol. IXIC. In Canada the Toronto Stock Exchange TSX and the TSXV use the following special codes after the ticker symbol: In the United Kingdom, prior to 1996, stock codes were known as EPICs, named after the London Stock Exchange's Exchange Price Information Computer. Following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still referred to as EPICs. Stocks can be identified using their SEDOL number or their ISIN. In the United States, modern letter-only ticker symbols were developed by Standard & Poor's to bring a national standard to investing. A single company could have many different ticker symbols as they varied between the dozens of individual stock markets.
The term ticker refers to the noise made by the ticker tape machines once used by stock exchanges. The S&P system was standardized by the securities industry and modified as years passed. Stock symbols for preferred stock have not been standardized; some companies use a well-known product as their ticker symbol. Belgian brewer InBev, the brewer of Budweiser beer, uses "BUD" as its three-letter ticker for American Depository Receipts, symbolizing its premier product in the United States, its rival, Molson Coors Brewing Company, uses a beer-related symbol, "TAP". Southwest Airlines pays tribute to its headquarters at Love Field in Dallas through its "LUV" symbol. Cedar Fair Entertainment Company, which operates large amusement parks in the United States, uses "FUN" as its symbol. Harley-Davidson uses "HOG" for its Harley Owners Group. Yamana Gold uses "AUY", because on the periodic table of elements. Sotheby's uses the symbol "BID". While most symbols come from the company's name, sometimes it happens the other way around.
Tricon Global, owner of KFC, Pi
Indiana
Indiana is a U. S. state located in the Midwestern and Great Lakes regions of North America. Indiana is the 17th most populous of the 50 United States, its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th U. S. state on December 11, 1816. Indiana borders Lake Michigan to the northwest, Michigan to the north, Ohio to the east, Kentucky to the south and southeast, Illinois to the west. Before becoming a territory, various indigenous peoples and Native Americans inhabited Indiana for thousands of years. Since its founding as a territory, settlement patterns in Indiana have reflected regional cultural segmentation present in the Eastern United States. Indiana has a diverse economy with a gross state product of $359.12 billion in 2017. Indiana has several metropolitan areas with populations greater than 100,000 and a number of smaller industrial cities and towns. Indiana is home to professional sports teams, including the NFL's Indianapolis Colts and the NBA's Indiana Pacers, hosts several notable athletic events, such as the Indianapolis 500 and Brickyard 400 motorsports races.
The state's name means "Land of the Indians", or "Indian Land". It stems from Indiana's territorial history. On May 7, 1800, the United States Congress passed legislation to divide the Northwest Territory into two areas and named the western section the Indiana Territory. In 1816, when Congress passed an Enabling Act to begin the process of establishing statehood for Indiana, a part of this territorial land became the geographic area for the new state. A resident of Indiana is known as a Hoosier; the etymology of this word is disputed, but the leading theory, as advanced by the Indiana Historical Bureau and the Indiana Historical Society, has "Hoosier" originating from Virginia, the Carolinas, Tennessee as a term for a backwoodsman, a rough countryman, or a country bumpkin. The first inhabitants in what is now Indiana were the Paleo-Indians, who arrived about 8000 BC after the melting of the glaciers at the end of the Ice Age. Divided into small groups, the Paleo-Indians were nomads, they created stone tools made out of chert by chipping and flaking.
The Archaic period, which began between 5000 and 4000 BC, covered the next phase of indigenous culture. The people developed new tools as well as techniques to cook food, an important step in civilization; such new tools included different types of spear knives, with various forms of notches. They made ground-stone tools such as woodworking tools and grinding stones. During the latter part of the period, they built earthwork mounds and middens, which showed that settlements were becoming more permanent; the Archaic period ended at about 1500 BC, although some Archaic people lived until 700 BC. The Woodland period commenced around 1500 BC. During this period, the people created ceramics and pottery, extended their cultivation of plants. An early Woodland period group named the Adena people had elegant burial rituals, featuring log tombs beneath earth mounds. In the middle portion of the Woodland period, the Hopewell people began developing long-range trade of goods. Nearing the end of the stage, the people developed productive cultivation and adaptation of agriculture, growing such crops as corn and squash.
The Woodland period ended around 1000 AD. The Mississippian culture emerged, lasting from 1000 AD until the 15th century, shortly before the arrival of Europeans. During this stage, the people created large urban settlements designed according to their cosmology, with large mounds and plazas defining ceremonial and public spaces; the concentrated settlements depended on the agricultural surpluses. One such complex was the Angel Mounds, they had large public areas such as plazas and platform mounds, where leaders lived or conducted rituals. Mississippian civilization collapsed in Indiana during the mid-15th century for reasons that remain unclear; the historic Native American tribes in the area at the time of European encounter spoke different languages of the Algonquian family. They included the Shawnee and Illini, they were joined by refugee tribes from eastern regions including the Delaware who settled in the White and Whitewater River Valleys. In 1679, French explorer René-Robert Cavelier, Sieur de La Salle was the first European to cross into Indiana after reaching present-day South Bend at the Saint Joseph River.
He returned the following year to learn about the region. French-Canadian fur traders soon arrived, bringing blankets, tools and weapons to trade for skins with the Native Americans. By 1702, Sieur Juchereau established the first trading post near Vincennes. In 1715, Sieur de Vincennes built Fort Miami at Kekionga, now Fort Wayne. In 1717, another Canadian, Picote de Beletre, built Fort Ouiatenon on the Wabash River, to try to control Native American trade routes from Lake Erie to the Mississippi River. In 1732, Sieur de Vincennes built a second fur trading post at Vincennes. French Canadian settlers, who had left the earlier post because of hostilities, returned in larger numbers. In a period of a few years, British colonists arrived from the East and contended against the Canadians for control of the lucrative fur trade. Fighting between the French and British colonists occurred throughout the 1750s as a result; the Native American tribes of Indiana sided with th
Public company
A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be unlisted. Public companies are formed within the legal systems of particular nations, therefore have national associations and formal designations which are distinct and separate. For example one of the main public company forms in the United States is called a limited liability company, in France is called a "society of limited responsibility", in Britain a public limited company, in Germany a company with limited liability. While the general idea of a public company may be similar, differences are meaningful, are at the core of international law disputes with regard to industry and trade. In the early modern period, the Dutch developed several financial instruments and helped lay the foundations of modern financial system.
The Dutch East India Company became the first company in history to issue bonds and shares of stock to the general public. In other words, the VOC was the first publicly traded company, because it was the first company to be actually listed on an official stock exchange. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fledged capital market: corporate shareholders; as Edward Stringham notes, "companies with transferable shares date back to classical Rome, but these were not enduring endeavors and no considerable secondary market existed." The securities of a publicly traded company are owned by many investors while the shares of a held company are owned by few shareholders. A company with many shareholders is not a publicly traded company. In the United States, in some instances, companies with over 500 shareholders may be required to report under the Securities Exchange Act of 1934. Public companies possess some advantages over held businesses.
Publicly traded companies are able to raise funds and capital through the sale of shares of stock. This is the reason publicly traded corporations are important; the profit on stock is gained in form of capital gain to the holders. The financial media and the public are able to access additional information about the business, since the business is legally bound, motivated, to publicly disseminate information regarding the financial status and future of the company to its many shareholders and the government; because many people have a vested interest in the company's success, the company may be more popular or recognizable than a private company. The initial shareholders of the company are able to share risk by selling shares to the public. If one were to hold a 100% share of the company, he or she would have to pay all of the business's debt; this increases asset liquidity and the company does not need to depend on funding from a bank. For example, in 2013 Facebook founder Mark Zuckerberg owned 29.3% of the company's class A shares, which gave him enough voting power to control the business, while allowing Facebook to raise capital from, distribute risk to, the remaining shareholders.
Facebook was a held company prior to its initial public offering in 2012. If some shares are given to managers or other employees, potential conflicts of interest between employees and shareholders will be remitted; as an example, in many tech companies, entry-level software engineers are given stock in the company upon being hired. Therefore, the engineers have a vested interest in the company succeeding financially, are incentivized to work harder and more diligently to ensure that success. Many stock exchanges require that publicly traded companies have their accounts audited by outside auditors, publish the accounts to their shareholders. Besides the cost, this may make useful information available to competitors. Various other annual and quarterly reports are required by law. In the United States, the Sarbanes–Oxley Act imposes additional requirements; the requirement for audited books is not imposed by the exchange known as OTC Pink. The shares may be maliciously held by outside shareholders and the original founders or owners may lose benefits and control.
The principal-agent problem, or the agency problem is a key weakness of public companies. The separation of a company's ownership and control is prevalent in such countries as U. K and U. S. In the United States, the Securities and Exchange Commission requires that firms whose stock is traded publicly report their major shareholders each year; the reports identify all institutional shareholders, all company officials who own shares in their firm, any individual or institution owning more than 5% of the firm's stock. For many years, newly created companies were held but held initial
New York Stock Exchange
The New York Stock Exchange is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was US$169 billion in 2013; the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007; the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it lists, it was part of NYSE Euronext, formed by the NYSE's 2007 merger with Euronext. The NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation; the earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement.
Securities exchange had been intermediated by the auctioneers who conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales; the earliest securities traded were governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days. The Bank of North America along with the First Bank of the United States and the Bank of New York were the first shares traded on the New York Stock Exchange. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms and reorganized. After sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance.
After re-forming as the New York Stock and Exchange Board the broker organization began renting out space for securities trading, taking place at the Tontine Coffee House. Several locations were used between 1865, when the present location was adopted; the invention of the electrical telegraph consolidated markets, New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership "because it used a more modern, continuous trading system superior to the NYSE’s twice-daily call sessions." The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of Bloomberg writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were competing with the NYSE for customers. Buyers and dealers all wanted to complete transactions as and cheaply as technologically possible and that meant finding the markets with the most trading, or the greatest liquidity in today’s parlance.
Minimizing competition was essential to keep a large number of orders flowing, the merger helped the NYSE to maintain its reputation for providing superior liquidity." The Civil War stimulated speculative securities trading in New York. By 1869 membership had to be capped, has been sporadically increased since; the latter half of the nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the Great Depression; the Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building; the NYSE announced its plans to merge with Archipelago on April 21, 2005, in a deal intended to reorganize the NYSE as a publicly traded company.
NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, became a for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. A little over one year on April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming NYSE Euronext, the first transatlantic stock exchange. Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. "It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, financial industry firms". The principal sectors are securities industry, commercial banking, asset management, insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer. Presently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $419 million in listings-related revenues.
The exchange was closed shortly after the beginning of World War I, but it re-opened on November 28 of that year in order to help the war effort by trading bonds, reopened for stock tradin
US$ 23.77 billion (2018)
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