1.
Aktieselskab
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Aktieselskab is the Danish name for a stock-based corporation. An aktieselskab may be publicly traded or private. The shareholders of an aktieselskab are not liable for the debts of the company and this can be used to protect the assets of the company against creditors by forming a group of companies. If an ⅍ is owned by a company, the profit from the production company can be transferred to the holding company. Since there is no liability for the owners of an ⅍, professional creditors, such as banks, protect themselves from this by demanding that the holding company guarantees the debts of the production company. The formation of an aktieselskab follows five steps, Notification concerning the formation to the Danish Commerce, resolution to form the company at the first general meeting. Subscription for shares and payment of the share capital, the share capital must be greater than 500,000 DKK. The signing of a memorandum of association which must contain a draft of the articles of association of the company, an aktieselskab can only acquire rights or incur obligations as a company when it has been registered at the Danish Commerce and Companies Agency. The share capital registered at the Danish Commerce and Companies Agency must be at least 500,000 DKK, the capital can come from contributions of cash or other assets. If half of the capital is lost the board of directors must convene a general meeting within six months, an aktieselskab must have a board of directors consisting of at least three members. Members of the board can be elected for a period of up to four depending on the articles of association. The board members are elected at the general meeting. The articles of association may confer upon public authorities or any third party the right to appoint one or more members of the board of directors, aksjeselskap Aktiebolag Aktiengesellschaft Akciová společnost Anpartsselskab Limited liability company Naamloze Vennootschap Osakeyhtiö Public limited company S. A. The Danish Public Companies Act - An English translation of the Danish aktieselskabslov
2.
Ticker symbol
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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 letters, numbers or a combination of both, ticker symbol refers to the symbols that were printed on the ticker tape of a ticker tape machine. Stock symbols are unique identifiers assigned to each security traded on a particular market, for example, AAPL is for Apple Inc. OODH is for Orion DHC, Inc. and HD is for Home Depot, a stock symbol can consist of letters, numbers, or a combination of both, and 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, the allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are typically between 1 and 4 letters and represent the name where possible. 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 often used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBCs 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 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 particularly sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V that had previously used by Vivendi which had delisted. To fully 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 often done by appending the location or exchange code to the ticker, although stock tickers identify a security, they are exchange dependent, generally 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 ISO6166, Securities for which ISINs are issued include bonds, commercial paper, stocks, and warrants. The ISIN identifies the security, not the exchange on which it trades, for instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, and is priced in five different currencies, it has the same ISIN on each, though not the same ticker symbol. ISIN cannot specify a particular trade in this case, and another identifier, following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still widely referred to as EPICs. Stocks can also be identified using their SEDOL number or their ISIN, in the United States, modern letter-only ticker symbols were developed by Standard & Poors to bring a national standard to investing
3.
Nasdaq Nordic
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Nasdaq Nordic is the common name for the subsidiaries of Nasdaq, Inc. that provide financial services and operate marketplaces for securities in the Nordic and Baltic countries. Historically, the operations have been known by the company name OMX AB, in 2015, the legal entity OMX AB was renamed Nasdaq AB, but it also operates under the alias Nasdaq OMX AB. The operations have been part of Nasdaq, Inc. since February 2008, OM AB was a futures exchange founded by Olof Stenhammar in the 1980s to introduce trading in standardized option contracts in Sweden. OM acquired the Stockholm Stock Exchange in 1998 and unsuccessfully attempted acquisition of the London Stock Exchange in 2001, during the dot-com bubble in the early 21st century OM, together with investment bank Morgan Stanley Dean Witter, launched a virtual European stock exchange called Jiway. The project was not successful and was cancelled on 14 October 2002, on 3 September 2003 the Helsinki Stock Exchange merged with OM, and the joint company became OM HEX. On 31 August 2004, the name of the company was changed to OMX. OMX then acquired the Copenhagen Stock Exchange in January 2005 for €164 million, on 19 September 2006 the Iceland Stock Exchange owner Eignarhaldsfelagid Verdbrefathing announced it would be acquired by OMX in a deal valuing the company at 250 million SEK. The transaction was completed by the end of the year, the company took a 10% stake in Oslo Børs Holding ASA, the owner of the Oslo Stock Exchange in October 2006. As of September 2016, Nasdaq is not a shareholder in the Oslo Stock Exchange holding company. Nasdaq has, however, publicly stated its interest in acquiring the Oslo Stock Exchange. OMX acquired the Armenian Stock Exchange and Central Depository in November 2007, in December 2005 OMX started First North, an alternative exchange for smaller companies, in Denmark. The First North exchange expanded to Stockholm in June 2006, Iceland in January 2007, the Markets Technology division of Computershare was acquired in 2006. The acquisition greatly expanded its offerings and made its client list the largest of all trading system technology providers. The group launched a virtual Nordic Stock Exchange on 2 October 2006, companies listed on the Iceland Stock Exchange have also since been merged into the list. OMX also launched a pan-regional benchmark index, the OMX Nordic 40, on the same date, on 25 May 2007, NASDAQ agreed to buy OMX for US$3.7 billion. In August 2007, however, Borse Dubai offered US$4 billion, on 20 September 2007, Borse Dubai agreed to stop competing to buy OMX in return for a 20% stake and 5 percent of votes in NASDAQ as well as NASDAQs then 28% stake in the London Stock Exchange. In a complex transaction, Borse Dubai acquired 97. 2% of OMXs outstanding shares before selling them on to NASDAQ, the newly merged company was renamed the NASDAQ OMX Group upon completion of the deal on 27 February 2008. OMX is the leading provider of central securities depository technology
4.
Copenhagen
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Copenhagen, Danish, København, Latin, Hafnia) is the capital and most populous city of Denmark. Copenhagen has an population of 1,280,371. The Copenhagen metropolitan area has just over 2 million inhabitants, the city is situated on the eastern coast of the island of Zealand, another small portion of the city is located on Amager, and is separated from Malmö, Sweden, by the strait of Øresund. The Øresund Bridge connects the two cities by rail and road, originally a Viking fishing village founded in the 10th century, Copenhagen became the capital of Denmark in the early 15th century. Beginning in the 17th century it consolidated its position as a centre of power with its institutions, defences. After suffering from the effects of plague and fire in the 18th century and this included construction of the prestigious district of Frederiksstaden and founding of such cultural institutions as the Royal Theatre and the Royal Academy of Fine Arts. Later, following the Second World War, the Finger Plan fostered the development of housing, since the turn of the 21st century, Copenhagen has seen strong urban and cultural development, facilitated by investment in its institutions and infrastructure. The city is the cultural, economic and governmental centre of Denmark, Copenhagens economy has seen rapid developments in the service sector, especially through initiatives in information technology, pharmaceuticals and clean technology. Since the completion of the Øresund Bridge, Copenhagen has become integrated with the Swedish province of Scania and its largest city, Malmö. With a number of connecting the various districts, the cityscape is characterized by parks, promenades. Copenhagen is home to the University of Copenhagen, the Technical University of Denmark, the University of Copenhagen, founded in 1479, is the oldest university in Denmark. Copenhagen is home to the FC København and Brøndby football clubs, the annual Copenhagen Marathon was established in 1980. Copenhagen is one of the most bicycle-friendly cities in the world, the Copenhagen Metro serves central Copenhagen while the Copenhagen S-train network connects central Copenhagen to its outlying boroughs. Serving roughly 2 million passengers a month, Copenhagen Airport, Kastrup, is the largest airport in the Nordic countries, the name of the city reflects its origin as a harbour and a place of commerce. The original designation, from which the contemporary Danish name derives, was Køpmannæhafn, meaning merchants harbour, the literal English translation would be Chapmans haven. The English name for the city was adapted from its Low German name, the abbreviations Kbh. or Kbhvn are often used in Danish for København, and kbh. for københavnsk. The chemical element hafnium is named for Copenhagen, where it was discovered, the bacterium Hafnia is also named after Copenhagen, Vagn Møller of the State Serum Institute in Copenhagen named it in 1954. Excavations in Pilestræde have also led to the discovery of a well from the late 12th century, the remains of an ancient church, with graves dating to the 11th century, have been unearthed near where Strøget meets Rådhuspladsen
5.
Denmark
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The term Danish Realm refers to the relationship between Denmark proper, the Faroe Islands and Greenland—three countries constituting the Kingdom of Denmark. The legal nature of the Kingdom of Denmark is fundamentally one of a sovereign state. The Faroe Islands and Greenland have been part of the Crown of Denmark since 1397 when the Kalmar Union was ratified, legal matters in The Danish Realm are subject to the Danish Constitution. Beginning in 1953, state law issues within The Danish Realm has been governed by The Unity of the Realm, a less formal name for The Unity of the Realm is the Commonwealth of the Realm. In 1978, The Unity of The Realm was for the first time referred to as rigsfællesskabet. The name caught on and since the 1990s, both The Unity of The Realm and The Danish Realm itself has increasingly been referred to as simply rigsfællesskabet in daily parlance. The Danish Constitution stipulates that the foreign and security interests for all parts of the Danish Realm are the responsibility of the Danish government, the Faroes received home rule in 1948 and Greenland did so in 1979. In 2005, the Faroes received a self-government arrangement, and in 2009 Greenland received self rule, the Danish Realms unique state of internal affairs is acted out in the principle of The Unity of the Realm. This principle is derived from Article 1 of the Danish Constitution which specifies that constitutional law applies equally to all areas of the Danish Realm, the Constitutional Act specifies that sovereignty is to continue to be exclusively with the authorities of the Realm. The language of Denmark is Danish, and the Danish state authorities are based in Denmark, the Kingdom of Denmarks parliament, with its 179 members, is located in the capital, Copenhagen. Two of the members are elected in each of Greenland and the Faroe Islands. The Government ministries are located in Copenhagen, as is the highest court, in principle, the Danish Realm constitutes a unified sovereign state, with equal status between its constituent parts. Devolution differs from federalism in that the powers of the subnational authority ultimately reside in central government. The Self-Government Arrangements devolves political competence and responsibility from the Danish political authorities to the Faroese, the Faroese and Greenlandic authorities administer the tasks taken over from the state, enact legislation in these specific fields and have the economic responsibility for solving these tasks. The Danish government provides a grant to the Faroese and the Greenlandic authorities to cover the costs of these devolved areas. The 1948 Home Rule Act of the Faroe Islands sets out the terms of Faroese home rule, the Act states. the Faroe Islands shall constitute a self-governing community within the State of Denmark. It establishes the government of the Faroe Islands and the Faroese parliament. The Faroe Islands were previously administered as a Danish county, the Home Rule Act abolished the post of Amtmand and these powers were expanded in a 2005 Act, which named the Faroese home government as an equal partner with the Danish government
6.
Chairman
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The chairman is the highest officer of an organized group such as a board, a committee, or a deliberative assembly. The person holding the office is elected or appointed by the members of the group. The chair presides over meetings of the group and conducts its business in an orderly fashion. When the group is not in session, the officers duties include acting as its head, its representative to the outside world. In some organizations, this position is called president, in others, where a board appoints a president. Other terms sometimes used for the office and its holder include chair, chairperson, chairwoman, presiding officer, president, moderator, facilitator, the chairman of a parliamentary chamber is often called the speaker. The term chair is used in lieu of chairman, in response to criticisms that using chairman is sexist. In his 1992 State of the Union address, then-U. S, president George H. W. Bush used chairman for men and chair for women. A1994 Canadian study found the Toronto Star newspaper referring to most presiding men as chairman, the Chronicle of Higher Education uses chairman for men and chairperson for women. An analysis of the British National Corpus found chairman used 1,142 times, chairperson 130 times, the National Association of Parliamentarians does not approve using chairperson. In World Schools Style debating, male chairs are called Mr. Chairman, the FranklinCovey Style Guide for Business and Technical Communication, as well as the American Psychological Association style guide, advocate using chair or chairperson, rather than chairman. The Oxford Dictionary of American Usage and Style suggests that the forms are gaining ground. It advocates using chair to refer both to men and to women, the word chair can refer to the place from which the holder of the office presides, whether on a chair, at a lectern, or elsewhere. During meetings, the person presiding is said to be in the chair and is referred to as the chair. Major dictionaries state that the word derives from chair and man, some authorities, however, including Riddicks Rules of Procedure, suggest that the second part of chairman derives from the Latin manus, and thus claim gender-neutrality for the word. Vladimir Lenin, for example, officially functioned as the head of Soviet Russia not as tsar or as president, note in particular the popular standard method for referring to Mao Zedong, Chairman Mao. In the absence of the chairman and vice chairman, groups sometimes elect a chairman pro tempore to fill the role for a single meeting. In some organizations that have titles, deputy chairman ranks higher than vice chairman, as there are often multiple vice chairs
7.
Insurance
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Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, an entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder, the insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the policy is called the premium. If the insured experiences a loss which is covered by the insurance policy. Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessels capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c.1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the guarantee to cancel the loan should the shipment be stolen. At some point in the 1st millennium BC, the inhabitants of Rhodes created the general average and this allowed groups of merchants to pay to insure their goods being shipped together. The collected premiums would be used to any merchant whose goods were jettisoned during transport. Separate insurance contracts were invented in Genoa in the 14th century, the first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks. These new insurance contracts allowed insurance to be separated from investment, Insurance became far more sophisticated in Enlightenment era Europe, and specialized varieties developed. Property insurance as we know it today can be traced to the Great Fire of London, initially,5,000 homes were insured by his Insurance Office. At the same time, the first insurance schemes for the underwriting of business ventures became available, by the end of the seventeenth century, Londons growing importance as a center for trade was increasing demand for marine insurance. These informal beginnings led to the establishment of the insurance market Lloyds of London and several related shipping, the first life insurance policies were taken out in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot, edward Rowe Mores established the Society for Equitable Assurances on Lives and Survivorship in 1762. In the late 19th century, accident insurance began to become available and this operated much like modern disability insurance. The first company to offer accident insurance was the Railway Passengers Assurance Company, by the late 19th century, governments began to initiate national insurance programs against sickness and old age
8.
Danish krone
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The krone is the official currency of Denmark, Greenland and the Faroe Islands, introduced on 1 January 1875. Both the ISO code DKK and currency sign kr. are in use, the former precedes the value. The currency is referred to as the Danish crown in English. Historically, krone coins have been minted in Denmark since the 17th century, one krone is subdivided into 100 øre, the name øre possibly deriving from Latin aureus meaning gold coin. Altogether there are eleven denominations of the krone, with the smallest being the 50 øre coin, formerly there were more øre coins, but those were discontinued due to inflation. The krone is pegged to the euro via the ERM II, the oldest known Danish coin is a penny struck AD 825–840, but the earliest systematic minting produced the so-called korsmønter or cross coins minted by Harald Bluetooth in the late 10th century. Organised minting in Denmark was introduced on a larger scale by Canute the Great in the 1020s, for almost 1,000 years, Danish kings – with a few exceptions – have issued coins with their name, monogram and/or portrait. Taxes were sometimes imposed via the coinage, e. g. by the substitution of coins handed in by new coins handed out with a lower silver content. Danish coinage was based on the Carolingian silver standard. Periodically, the value of the minted coins was reduced. This was mainly done to generate income for the monarch and/or the state, as a result of the debasement, the public started to lose trust in the respective coins. Danish currency was overhauled several times in attempts to restore public trust in the coins, in 1619 a new currency was introduced in Denmark, the krone. One krone had the value of 1 1/2 Danish Rigsdaler Species accounting for 96 Kroneskillinger, later for 144 common Skillings, until the late 18th century, the krone was a denomination equal to 8 mark, a subunit of the Danish rigsdaler. A new krone was introduced as the currency of Denmark in January 1875 and it replaced the rigsdaler at a rate of 2 kroner =1 rigsdaler. This placed the krone on the standard at a rate of 2480 kroner =1 kilogram fine gold. The latter part of the 18th century and much of the 19th century saw expanding economic activity, consequently, banknotes were increasingly used instead of coins. The introduction of the new krone was a result of the Scandinavian Monetary Union, the parties to the union were the three Scandinavian countries, where the name was krone in Denmark and Norway and krona in Sweden, a word which in all three languages literally means crown. The three currencies were on the standard, with the krone/krona defined as 1⁄2480 of a kilogram of pure gold
9.
1,000,000,000
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1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001. One billion can also be written as b or bn, in scientific notation, it is written as 1 ×109. The SI prefix giga indicates 1,000,000,000 times the base unit, one billion years may be called eon in astronomy and geology. Previously in British English, the word billion referred exclusively to a million millions, however, this is no longer as common as earlier, and the word has been used to mean one thousand million for some time. The alternative term one thousand million is used in the U. K. or countries such as Spain that uses one thousand million as one million million constitutes a billion. The worded figure, as opposed to the figure is used to differentiate between one thousand million or one billion. The term milliard can also be used to refer to 1,000,000,000, whereas milliard is seldom used in English, in the South Asian numbering system, it is known as 100 crore or 1 Arab. 1000000007 – smallest prime number with 10 digits,1023456789 – smallest pandigital number in base 10. 1026753849 – smallest pandigital square that includes 0,1073741824 –2301073807359 – 14th Kynea number. 1162261467 –3191220703125 –513 1232922769- 35113^2 Centered hexagonal number,1234567890 – pandigital number with the digits in order. 1882341361 – The least prime whose reversal is both square and triangular,1977326743 –7112147483647 – 8th Mersenne prime and the largest signed 32-bit integer. 2147483648 –2312176782336 –6122214502422 – 6th primary pseudoperfect number,2357947691 –1192971215073 – 11th Fibonacci prime. 3405691582 – hexadecimal CAFEBABE, used as a placeholder in programming,3405697037 – hexadecimal CAFED00D, used as a placeholder in programming. 3735928559 – hexadecimal DEADBEEF, used as a placeholder in programming,3486784401 –3204294836223 – 16th Carol number. 4294967291 – Largest prime 32-bit unsigned integer,4294967295 – Maximum 32-bit unsigned integer, perfect totient number, product of the five prime Fermat numbers. 4294967296 –2324294967297 – the first composite Fermat number,6103515625 –5146210001000 – only self-descriptive number in base 10. 6975757441 –1786983776800 – 15th colossally abundant number, 15th superior highly composite number 7645370045 – 27th Pell number,8589934592 –2339043402501 – 25th Motzkin number. 9814072356 – largest square pandigital number, largest pandigital pure power,9876543210 – largest number without redundant digits
10.
Net income
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In business, net income is an entitys income minus cost of goods sold, expenses and taxes for an accounting period. In the context of the presentation of financial statements, the IFRS Foundation defines net income as synonymous with profit, net income is a distinct accounting concept from profit but the same as net profit. Net income can also be calculated by adding a companys operating income to non-operating income, net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings. As profit and earnings are used synonymously for income, net earnings, often, the term income is substituted for net income, yet this is not preferred due to the possible ambiguity. Net income is called the bottom line because it is typically found on the last line of a companys income statement. The items deducted will typically include tax expense, financing expense, likewise, preferred stock dividends will be subtracted too, though they are not an expense. For a merchandising company, subtracted costs may be the cost of goods sold, sales discounts, for a product company advertising, manufacturing, and design and development costs are included
11.
Asset
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In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value, simply stated, assets represent value of ownership that can be converted into cash. The balance sheet of a firm records the value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business, one can classify assets into two major asset classes, tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets, current assets include inventory, while fixed assets include such items as buildings and equipment. Intangible assets are resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, an asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. One of the most widely accepted accounting definitions of asset is the one used by the International Accounting Standards Board, employees are not considered assets like machinery is, even though they can generate future economic benefits. This is because an entity does not have sufficient control over its employees to satisfy the Frameworks definition of an asset, similarly, in economics an asset is any form in which wealth can be held. The accounting equation is the structure of the balance sheet. It relates assets, liabilities, and owners equity, Assets = Liabilities + Capital Liabilities = Assets − Capital Equity = Assets − Liabilities Assets are listed on the balance sheet. On a companys balance sheet certain divisions are required by generally accepted accounting principles, Assets can be divided into e. g. current assets and fixed assets, often with further subdivisions such as cash, receivables and inventory. Assets are formally controlled and managed within larger organizations via the use of asset tracking tools and these monitor the purchasing, upgrading, servicing, licensing, disposal etc. of both physical and non-physical assets. Current assets are cash and other assets expected to be converted to cash or consumed either in a year or in the operating cycle and these assets are continually turned over in the course of a business during normal business activity. There are 5 major items included into current assets, Cash and cash equivalents – it is the most liquid asset, which includes currency, deposit accounts, short-term investments – include securities bought and held for sale in the near future to generate income on short-term price differences. Receivables – usually reported as net of allowance for non-collectable accounts, inventory – trading these assets is a normal business of a company. The inventory value reported on the sheet is usually the historical cost or fair market value. This is known as the lower of cost or market rule, prepaid expenses – these are expenses paid in cash and recorded as assets before they are used or consumed
12.
Equity (finance)
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In accounting, equity is the difference between the value of the assets and the value of the liabilities of something owed. Equity can be negative if liabilities exceeds assets, shareholders equity represents the equity of a company as divided among shareholders of common or preferred stock. Negative shareholders equity is often referred to as a shareholders deficit, alternatively, equity can also refer to the capital stock of a corporation. The value of the stock depends on the future economic prospects. For a company in liquidation proceedings, the equity is that which remains after all liabilities have been paid, when starting a business, the owners fund the business to finance various operations. Throughout the businesss existence, the equity of the business will be the difference between its assets and debt liabilities, this is the accounting equation, when a business liquidates during bankruptcy, the proceeds from the assets are used to reimburse creditors. The creditors are ranked by priority, with secured creditors being paid first, other creditors being paid next, owners equity is this remaining or residual claim against assets, which is paid only after all other creditors are paid. In such cases where even creditors could not get money to pay their bills. In financial accounting, owners equity consists of the net assets of an entity, net assets is the difference between the total assets and total liabilities. Equity appears on the sheet, one of the four primary financial statements. The assets of an entity can be tangible and intangible items. Intangible assets include such as brand names, copyrights or goodwill. Tangible assets include land, equipment, and cash, issue of new equity in which the firm obtains new capital increases the total shareholders equity. Share repurchases, in which a firm returns money to investors, reducing on the side its financial assets. For practical purposes, share repurchasing is similar to a dividend payment, rather than giving money to all shareholders immediately in the form of a dividend payment, a share repurchase reduces the number of shares outstanding. Dividends paid out to preferred stock owners are considered an expense to be subtracted from net income, sometimes assets bought and held in other countries get translated back into the reporting currency at different exchange rates, resulting in a changed value. When the owners are shareholders, the interest can be called shareholders equity, the remains the same. If all shareholders are in one and the class, they share equally in ownership equity from all perspectives
13.
Mortgage loan
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The loan is secured on the borrowers property. Mortgage can also be described as a borrower giving consideration in the form of a collateral for a benefit, Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, in many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to them to purchase property outright. In countries where the demand for ownership is highest, strong domestic markets for mortgages have developed. According to Anglo-American property law, a mortgage occurs when an owner pledges his or her interest as security or collateral for a loan. As with other types of loans, mortgages have an interest rate and are scheduled to amortize over a set period of time, typically 30 years. All types of property can be, and usually are, secured with a mortgage. Mortgage lending is the mechanism used in many countries to finance private ownership of residential and commercial property. Although the terminology and precise forms will differ from country to country, the components tend to be similar, Property. The exact form of ownership will vary from country to country, Mortgage, the security interest of the lender in the property, which may entail restrictions on the use or disposal of the property. Restrictions may include requirements to purchase insurance and mortgage insurance. Borrower, the person borrowing who either has or is creating an ownership interest in the property, lender, any lender, but usually a bank or other financial institution. Principal, the size of the loan, which may or may not include certain other costs, as any principal is repaid. Interest, a charge for use of the lenders money. Completion, legal completion of the deed, and hence the start of the mortgage. A closed mortgage account is said to be redeemed, many other specific characteristics are common to many markets, but the above are the essential features. Governments usually regulate many aspects of mortgage lending, either directly or indirectly, other aspects that define a specific mortgage market may be regional, historical, or driven by specific characteristics of the legal or financial system
14.
Foreign exchange market
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The foreign exchange market is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices, in terms of trading volume, it is by far the largest market in the world, followed by the Credit market. The main participants in this market are the international banks. Financial centers around the function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market does not determine the values of different currencies. The foreign exchange market works through financial institutions, and operates on several levels, behind the scenes, banks turn to a smaller number of financial firms known as dealers, who are actively involved in large quantities of foreign exchange trading. Most foreign exchange dealers are banks, so this behind-the-scenes market is called the interbank market. Trades between foreign exchange dealers can be large, involving hundreds of millions of dollars. Because of the sovereignty issue when involving two currencies, Forex has little supervisory entity regulating its actions, the foreign exchange market assists international trade and investments by enabling currency conversion. It also supports direct speculation and evaluation relative to the value of currencies, in a typical foreign exchange transaction, a party purchases some quantity of one currency by paying with some quantity of another currency. The modern foreign exchange market began forming during the 1970s. e, as such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding currency intervention by central banks.1 trillion per day in April 2016. This is down from $5.4 trillion in April 2013, Foreign exchange swaps were the most actively traded instruments in April 2016, at $2.4 trillion per day, followed by spot trading at $1.7 trillion. According to the Bank for International Settlements, as of April 2016 and this marks a decline of approximately 5% from the $5.355 trillion daily volume as of April 2013. Some firms specializing in the exchange market had put the average daily turnover in excess of US$4 trillion. Money-changers were living in the Holy Land in the times of the Talmudic writings and these people used city stalls, and at feast times the Temples Court of the Gentiles instead. Money-changers were also the silversmiths and/or goldsmiths of more recent ancient times, during the 4th century AD, the Byzantine government kept a monopoly on the exchange of currency. Papyri PCZ I59021, shows the occurrences of exchange of coinage in Ancient Egypt, Currency and exchange were important elements of trade in the ancient world, enabling people to buy and sell items like food, pottery and raw materials. If a Greek coin held more gold than an Egyptian coin due to its size or content, then a merchant could barter fewer Greek gold coins for more Egyptian ones, or for more material goods
15.
Retail banking
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Retail banking, also known as consumer banking, is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, the term is generally used to distinguish these banking services from investment banking, commercial banking or wholesale banking. It may also be used to refer to a division or department of a bank dealing with retail customers, in the U. S. the term commercial bank is used for a normal bank to distinguish it from an investment bank. This separation was repealed in the 1990s, commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to individual members of the public. S. Private banks manage the assets of high-net-worth individuals, offshore banks are banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks, postal savings banks are savings banks associated with national postal systems
16.
Ireland
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Ireland is an island in the North Atlantic. It is separated from Great Britain to its east by the North Channel, the Irish Sea, Ireland is the second-largest island of the British Isles, the third-largest in Europe, and the twentieth-largest on Earth. Politically, Ireland is divided between the Republic of Ireland, which covers five-sixths of the island, and Northern Ireland, in 2011, the population of Ireland was about 6.4 million, ranking it the second-most populous island in Europe after Great Britain. Just under 4.6 million live in the Republic of Ireland, the islands geography comprises relatively low-lying mountains surrounding a central plain, with several navigable rivers extending inland. The island has lush vegetation, a product of its mild, thick woodlands covered the island until the Middle Ages. As of 2013, the amount of land that is wooded in Ireland is about 11% of the total, there are twenty-six extant mammal species native to Ireland. The Irish climate is moderate and classified as oceanic. As a result, winters are milder than expected for such a northerly area, however, summers are cooler than those in Continental Europe. Rainfall and cloud cover are abundant, the earliest evidence of human presence in Ireland is dated at 10,500 BC. Gaelic Ireland had emerged by the 1st century CE, the island was Christianised from the 5th century onward. Following the Norman invasion in the 12th century, England claimed sovereignty over Ireland, however, English rule did not extend over the whole island until the 16th–17th century Tudor conquest, which led to colonisation by settlers from Britain. In the 1690s, a system of Protestant English rule was designed to materially disadvantage the Catholic majority and Protestant dissenters, with the Acts of Union in 1801, Ireland became a part of the United Kingdom. Northern Ireland saw much civil unrest from the late 1960s until the 1990s and this subsided following a political agreement in 1998. In 1973 the Republic of Ireland joined the European Economic Community while the United Kingdom, Irish culture has had a significant influence on other cultures, especially in the fields of literature. Alongside mainstream Western culture, an indigenous culture exists, as expressed through Gaelic games, Irish music. The culture of the island shares many features with that of Great Britain, including the English language, and sports such as association football, rugby, horse racing. The name Ireland derives from Old Irish Eriu and this in turn derives from Proto-Celtic *Iveriu, which is also the source of Latin Hibernia. Iveriu derives from a root meaning fat, prosperous, during the last glacial period, and up until about 9000 years ago, most of Ireland was covered with ice, most of the time
17.
Estonia
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Estonia, officially the Republic of Estonia, is a country in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia, across the Baltic Sea lies Sweden in the west and Finland in the north. The territory of Estonia consists of a mainland and 2,222 islands and islets in the Baltic Sea, covering 45,339 km2 of land and water, and is influenced by a humid continental climate. The territory of Estonia has been inhabited since at least 6500 BC, in 1988, during the Singing Revolution, the Estonian Supreme Soviet issued the Estonian Sovereignty Declaration in defiance of Soviet rule, and independence was restored on 20 August 1991. Estonia is a parliamentary republic divided into fifteen counties. Its capital and largest city is Tallinn, with a population of 1.3 million, it is one of the least-populous member states of the European Union, Eurozone, North Atlantic Treaty Organization, OECD and Schengen Area. Estonia is a country with an advanced, high-income economy that is among the fastest growing in the EU. Its Human Development Index ranks very highly, and it performs favourably in measurements of economic freedom, civil liberties, the 2015 PISA test places Estonian high school students 3rd in the world, behind Singapore and Japan. Citizens of Estonia are provided with health care, free education. Since independence the country has developed its IT sector, becoming one of the worlds most digitally advanced societies. In 2005 Estonia became the first nation to hold elections over the Internet, in the Estonian language, the oldest known endonym of the Estonians was maarahvas, meaning country people or people of the land. The land inhabited by Estonians was called Maavald meaning Country Parish or Land Parish, one hypothesis regarding the modern name of Estonia is that it originated from the Aesti, a people described by the Roman historian Tacitus in his Germania. The historic Aesti were allegedly Baltic people, whereas the modern Estonians are Finno-Ugric, the geographical areas between Aesti and Estonia do not match, with Aesti being further down south. Ancient Scandinavian sagas refer to a land called Eistland, as the country is called in Icelandic. Early Latin and other ancient versions of the name are Estia and Hestia, esthonia was a common alternative English spelling prior to 1921. Human settlement in Estonia became possible 13,000 to 11,000 years ago, the oldest known settlement in Estonia is the Pulli settlement, which was on the banks of the river Pärnu, near the town of Sindi, in south-western Estonia. According to radiocarbon dating it was settled around 11,000 years ago, the earliest human inhabitation during the Mesolithic period is connected to Kunda culture, which is named after the town of Kunda in northern Estonia. At that time the country was covered with forests, and people lived in communities near bodies of water
18.
Latvia
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Latvia, officially the Republic of Latvia, is a country in the Baltic region of Northern Europe, one of the three Baltic states. It is bordered by Estonia to the north, Lithuania to the south, Russia to the east, Latvia has 1,957,200 inhabitants and a territory of 64,589 km2. The country has a seasonal climate. Latvia is a parliamentary republic established in 1918. The capital city is Riga, the European Capital of Culture 2014, Latvia is a unitary state, divided into 119 administrative divisions, of which 110 are municipalities and 9 are cities. Latvians and Livs are the people of Latvia. Latvian and Lithuanian are the two surviving Baltic languages. Despite foreign rule from the 13th to 20th centuries, the Latvian nation maintained its identity throughout the generations via the language, Latvia and Estonia share a long common history. Until World War II, Latvia also had significant minorities of ethnic Germans, Latvia is historically predominantly Protestant Lutheran, except for the Latgale region in the southeast, which has historically been predominantly Roman Catholic. The Russian population has brought a significant portion of Eastern Orthodox Christians. The Republic of Latvia was founded on 18 November 1918, however, its de facto independence was interrupted at the outset of World War II. The peaceful Singing Revolution, starting in 1987, called for Baltic emancipation of Soviet rule and it ended with the Declaration on the Restoration of Independence of the Republic of Latvia on 4 May 1990, and restoring de facto independence on 21 August 1991. Latvia is a democratic and developed country and member of the European Union, NATO, the Council of Europe, the United Nations, CBSS, the IMF, NB8, NIB, OECD, OSCE, and WTO. For 2014, Latvia was listed 46th on the Human Development Index and it used the Latvian lats as its currency until it was replaced by the euro on 1 January 2014. The name Latvija is derived from the name of the ancient Latgalians, one of four Indo-European Baltic tribes, henry of Latvia coined the Latinisations of the countrys name, Lettigallia and Lethia, both derived from the Latgalians. The terms inspired the variations on the name in Romance languages from Letonia. Around 3000 BC, the ancestors of the Latvian people settled on the eastern coast of the Baltic Sea. The Balts established trade routes to Rome and Byzantium, trading local amber for precious metals, by 900 AD, four distinct Baltic tribes inhabited Latvia, Curonians, Latgalians, Selonians, Semigallians, as well as the Livonians speaking a Finnic language
19.
Lithuania
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Lithuania, officially the Republic of Lithuania, is a country in Northern Europe. One of the three Baltic states, it is situated along the shore of the Baltic Sea, to the east of Sweden. It is bordered by Latvia to the north, Belarus to the east and south, Poland to the south, Lithuania has an estimated population of 2.9 million people as of 2015, and its capital and largest city is Vilnius. The official language, Lithuanian, along with Latvian, is one of two living languages in the Baltic branch of the Indo-European language family. For centuries, the shores of the Baltic Sea were inhabited by various Baltic tribes. In the 1230s, the Lithuanian lands were united by Mindaugas, the King of Lithuania, and the first unified Lithuanian state, with the Lublin Union of 1569, Lithuania and Poland formed a voluntary two-state union, the Polish–Lithuanian Commonwealth. The Commonwealth lasted more than two centuries, until neighboring countries systematically dismantled it from 1772–95, with the Russian Empire annexing most of Lithuanias territory. As World War I neared its end, Lithuanias Act of Independence was signed on 16 February 1918, in the midst of the Second World War, Lithuania was first occupied by the Soviet Union and then by Nazi Germany. As World War II neared its end and the Germans retreated, Lithuania is a member of the European Union, the Council of Europe, a full member of the Eurozone, Schengen Agreement and NATO. It is also a member of the Nordic Investment Bank, the United Nations Human Development Index lists Lithuania as a very high human development country. Lithuania has been among the fastest growing economies in the European Union and is ranked 21st in the world in the Ease of Doing Business Index, the first people settled in the territory of Lithuania after the last glacial period in the 10th millennium BC. Over a millennium, the Indo-Europeans, who arrived in the 3rd – 2nd millennium BC, mixed with the local population, the first written mention of Lithuania is found in a medieval German manuscript, the Annals of Quedlinburg, in an entry dated 9 March 1009. Initially inhabited by fragmented Baltic tribes, in the 1230s the Lithuanian lands were united by Mindaugas, after his assassination in 1263, pagan Lithuania was a target of the Christian crusades of the Teutonic Knights and the Livonian Order. Despite the devastating century-long struggle with the Orders, the Grand Duchy of Lithuania expanded rapidly, by the end of the 14th century, Lithuania was one of the largest countries in Europe and included present-day Belarus, Ukraine, and parts of Poland and Russia. The geopolitical situation between the west and the east determined the multicultural and multi-confessional character of the Grand Duchy of Lithuania, the ruling elite practised religious tolerance and Chancery Slavonic language was used as an auxiliary language to the Latin for official documents. In 1385, the Grand Duke Jogaila accepted Polands offer to become its king, Jogaila embarked on gradual Christianization of Lithuania and established a personal union between Poland and Lithuania. It implied that Lithuania, the fiercely independent land, was one of the last pagan areas of Europe to adopt Christianity, after two civil wars, Vytautas the Great became the Grand Duke of Lithuania in 1392. During his reign, Lithuania reached the peak of its expansion, centralization of the state began
20.
Finland
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Finland, officially the Republic of Finland, is a sovereign state in Northern Europe. A peninsula with the Gulf of Finland to the south and the Gulf of Bothnia to the west, the country has borders with Sweden to the northwest, Norway to the north. Estonia is south of the country across the Gulf of Finland, Finland is a Nordic country situated in the geographical region of Fennoscandia, which also includes Scandinavia. Finlands population is 5.5 million, and the majority of the population is concentrated in the southern region,88. 7% of the population is Finnish people who speak Finnish, a Uralic language unrelated to the Scandinavian languages, the second major group are the Finland-Swedes. In terms of area, it is the eighth largest country in Europe, Finland is a parliamentary republic with a central government based in the capital Helsinki, local governments in 311 municipalities, and an autonomous region, the Åland Islands. Over 1.4 million people live in the Greater Helsinki metropolitan area, from the late 12th century, Finland was an integral part of Sweden, a legacy reflected in the prevalence of the Swedish language and its official status. In the spirit of the notion of Adolf Ivar Arwidsson, we are not Swedes, we do not want to become Russians, let us therefore be Finns, nevertheless, in 1809, Finland was incorporated into the Russian Empire as the autonomous Grand Duchy of Finland. In 1906, Finland became the nation in the world to give the right to vote to all adult citizens. Following the 1917 Russian Revolution, Finland declared itself independent, in 1918, the fledgling state was divided by civil war, with the Bolshevik-leaning Reds supported by the equally new Soviet Russia, fighting the Whites, supported by the German Empire. After a brief attempt to establish a kingdom, the became a republic. During World War II, the Soviet Union sought repeatedly to occupy Finland, with Finland losing parts of Karelia, Salla and Kuusamo, Petsamo and some islands, Finland joined the United Nations in 1955 and established an official policy of neutrality. The Finno-Soviet Treaty of 1948 gave the Soviet Union some leverage in Finnish domestic politics during the Cold War era, Finland was a relative latecomer to industrialization, remaining a largely agrarian country until the 1950s. It rapidly developed an advanced economy while building an extensive Nordic-style welfare state, resulting in widespread prosperity, however, Finnish GDP growth has been negative in 2012–2014, with a preceding nadir of −8% in 2009. Finland is a top performer in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life, a large majority of Finns are members of the Evangelical Lutheran Church, though freedom of religion is guaranteed under the Finnish Constitution. The first known appearance of the name Finland is thought to be on three rune-stones. Two were found in the Swedish province of Uppland and have the inscription finlonti, the third was found in Gotland, in the Baltic Sea. It has the inscription finlandi and dates from the 13th century, the name can be assumed to be related to the tribe name Finns, which is mentioned first known time AD98. The name Suomi has uncertain origins, but a candidate for a source is the Proto-Baltic word *źemē, in addition to the close relatives of Finnish, this name is also used in the Baltic languages Latvian and Lithuanian
21.
Vilnius
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Vilnius is the capital of Lithuania and its largest city, with a population of 542,664 as of 2015. Vilnius is located in the southeast part of Lithuania and is the second largest city in the Baltic states, Vilnius is the seat of the main government institutions of Lithuania as well as of the Vilnius District Municipality. Vilnius is classified as a Gamma global city according to GaWC studies and its Jewish influence until the 20th century has led to it being described as the Jerusalem of Lithuania and Napoleon named it the Jerusalem of the North as he was passing through in 1812. In 2009, Vilnius was the European Capital of Culture, together with the Austrian city of Linz, the name of the city originates from the Vilnia River. The city has also known by many derivate spellings in various languages throughout its history. The most notable names for the city include, Polish, Wilno, Belarusian, Вiльня, German, Wilna, Latvian, Viļņa, Russian, Вильнюс, Yiddish, ווילנע , Czech. A Russian name from the time of the Russian Empire was Вильна/Вильно, the name Vilna is still used in Finnish, Portuguese, Spanish, and Hebrew. Wilna is still used in German, along with Vilnius, the neighborhoods of Vilnius also have names in other languages, which represent the languages spoken by various ethnic groups in the area. Historian Romas Batūra identifies the city with Voruta, one of the castles of Mindaugas, during the reign of Vytenis a city started to emerge from a trading settlement and the first Franciscan Catholic church was built. These letters contain the first unambiguous reference to Vilnius as the capital, According to legend, Gediminas dreamt of an iron wolf howling on a hilltop and consulted a pagan priest for its interpretation. He was told, What is destined for the ruler and the State of Lithuania, is thus, the Iron Wolf represents a castle and a city which will be established by you on this site. This city will be the capital of the Lithuanian lands and the dwelling of their rulers, the location offered practical advantages, it lay within the Lithuanian heartland at the confluence of two navigable rivers, surrounded by forests and wetlands that were difficult to penetrate. The duchy had been subject to intrusions by the Teutonic Knights, Vilnius was the flourishing capital of the Grand Duchy of Lithuania, the residence of the Grand Duke. Gediminas expanded the Grand Duchy through warfare along with strategic alliances and marriages, at its height it covered the territory of modern-day Lithuania, Belarus, Ukraine, Transnistria, and portions of modern-day Poland and Russia. His grandchildren Vytautas the Great and Jogaila, however, fought civil wars, during the Lithuanian Civil War of 1389–1392, Vytautas besieged and razed the city in an attempt to wrest control from Jogaila. The two later settled their differences, after a series of treaties culminating in the 1569 Union of Lublin, the rulers of this federation held either or both of two titles, Grand Duke of Lithuania or King of Poland. In 1387, Jogaila acting as a Grand Duke of Lithuania and King of Poland Władysław II Jagiełło, the city underwent a period of expansion. The Vilnius city walls were built for protection between 1503 and 1522, comprising nine city gates and three towers, and Sigismund August moved his court there in 1544
22.
Sampo Group
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Sampo Group is a Finnish financial company made up of the parent company Sampo plc and If P&C Insurance Holding Ltd and Mandatum Life Insurance Company, both of which are its fully owned subsidiaries. The Helsinki-based parent company administers the subsidiaries, Sampo Group employs nearly 6,800 employees. Kari Stadigh is the Group CEO and President for Sampo, Sampo Group had a banking operations under the name of Sampo Bank between 2000 -2006. In November 2006, it was disclosed that the business of Sampo is sold to the Danish Danske Bank. The proceeds of the sale were invested in the shares of Nordea, Sampo currently owns more than 20 per cent of Nordea Bank AB, the Nordic banking group. Sampo plcs A share has been listed on NASDAQ OMX Helsinki since January 1988, in terms of market capitalization Sampo plc is one of the largest companies listed on NASDAQ OMX Helsinki. Varma Mutual Pension Insurance Company 6. 35%3, ilmarinen Mutual Pension Insurance Company 1. 00%5. Kaleva Mutual Insurance Company 0. 93% Foreign and nominee registered owners has 59. 57% of Sampo plcs shares, Sampo plc has more than 81,000 registered owners. If P&C Insurance is responsible for Sampo Groups property and casualty insurance operations, If P&C Insurance is the leading property and casualty insurer in the Nordic region, with approximately 3.6 million customers in the Nordic and Baltic countries. If offers insurance solutions and services in Finland, Sweden, Norway, Denmark, Sampo plc owns the entire stock of the Mandatum Life Insurance Company Limited. The Mandatum Life Group owns Mandatum Life Insurance Baltic SE, which operates in all Baltic countries and is domiciled in Estonia, in Latvia and Lithuania the company operates through branch offices. Mandatum Lifes market share of the Finnish and the Baltic insurance markets is about 20 per cent, Nordea Bank AB, commonly referred to as Nordea, is a Nordic-based financial services group operating in Northern Europe. In October 2009 Sampo plc received permission from Swedish authorities to more than 20% of Nordea. Today Sampo Group owns 21. 2% of the banking group, in Finnish mythology the name Sampo refers to a mythical machine that creates salt, food, flour and gold out of nothing. List of Finnish companies If P&C Insurance Official website of Sampo Group Sampo Groups Annual Report Archive Mandatum Life If P&C Insurance
23.
Tapiola
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Tapiola is a district of the municipality of Espoo on the south coast of Finland, and is one of the major urban centres of Espoo. It is located in the part of Greater Helsinki. The name Tapiola is derived from Tapio, who is the forest god of Finnish mythology, Tapiola was largely constructed in the 1950s and 1960s by the Finnish housing foundation and was designed as a garden city. It is the location of the Espoo cultural centre, the Espoo Museum of Modern Art, the Espoo city museum, according to the Finnish National Board of Antiquities, Tapiola was the largest and most valuable example of the 1960s construction ideologies in Finland. Its architecture and landscaping that combines urban living with nature has attracted tourists ever since, Tapiola was one of the first post-war new town projects in Continental Europe. The project was conceived, built and managed by Heikki von Hertzen, under Von Hertzens leadership, the Housing Foundation bought 660 acres of forest land, six miles from the centre of Helsinki, and set out to create an ideal garden city. The role of the Housing Foundation included financing the project and overseeing the planning and building process so as to ensure consistency within different areas of the town, the Housing Foundations unique combination of various socio-political organisations facilitated the negotiation of funds with governmental bodies. Von Hertzen set out to create an urban environment that would address the housing shortage in Helsinki. Tapiola did not form part of any plan for Finland’s development other than von Hertzen’s Seven Towns Plan. The original city plans for Tapiola were made by Otto-Iivari Meurman, each member of the group designed their own part of the area and its buildings, including social housing blocks and individual houses. Tapiola is a result of teamwork in the fields of architecture, sociology, civil engineering, landscape gardening, domestic science. The name of the city itself was chosen through a public competition in 1953. The winning name was suggested by different people, which in Finnish means the home of the Tapio. Tapiola is also the centre of Espoo, as it houses the Espoo cultural centre, the city museum. The Tapiola library is located in the cultural centre, Tapiola brought worldwide fame for Finnish urban planning. From its first stages it gained both a national and international reputation for its high class architecture and landscaping, as well as an ideological experiment, Tapiolas planners aimed at demonstrating a new direction for Finnish town planning and housing. The slogan of the project was, we do not want to build houses or dwellings but socially healthful surroundings for contemporary man, Tapiola provided a utopian vision of society and an alternative to what was seen at the time as an oppressive urban environment. In this sense, Tapiola was both an experiment and a model, Tapiola was built on the principles of Ebenezer Howards garden city
24.
Danske Bank (Northern Ireland)
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Danske Bank is a commercial bank in Northern Ireland. Northern Bank was one of the oldest banks in Ireland having been formed in 1809, Northern Bank took on the name of its parent company Danske Bank as its trading name in November 2012. The bank is considered one of the leading banks in Northern Ireland with 46 branches. Danske Bank is one of the four banks in Northern Ireland which are permitted to issue their own banknotes. Northern Bank was founded in Belfast in 1809 as the Northern Banking Partnership, the bank expanded across Ireland, opening its first branch in the south in 1840. In 1965, the Northern Banking Company Limited was acquired by the Midland Bank, in 1970, the Midlands two Northern Ireland subsidiaries were merged to form Northern Bank Limited. Under Midlands ownership, Northern Bank shared its parent companys branding, Midland Bank ran into severe financial difficulty as a result of its 1981 acquisition of Crocker National Bank in the USA and was forced to divest itself of assets to restore stability. In 1988, Midland sold off its subsidiaries, namely the Clydesdale Bank in Scotland, Northern Bank Limited and Northern Bank Limited, after this, Northern Bank Limited was renamed National Irish Bank. The Northern Bank brand name continued in Northern Ireland, but a new logo was introduced, in 2002, the banks logotype was changed to match that of the National Australia Bank. In December 2004, the Denmark-based Danske Bank Group agreed to acquire Northern Bank, the sale of the two banks marked National Australia Banks exit from the Irish banking markets. Don Price remained as CEO, but was replaced by Gerry Mallon in June 2008. The acquisition was completed in 2005 and Danske Bank invested approximately £100m in Northern Bank, as part of this process, National Irish Bank was separated from the Northern Bank and given its own dedicated management team. Both Northern & National Irish Bank also migrated over to Danske Banks technology platform with a contact centre set up to deal with all incoming calls to the branches of both banks. From April 2006 the two banks also adopted new corporate identities which were based on a variation of the Danske Bank logo. On 1 June 2012, brand separation between Northern Bank and National Irish Bank was also reversed, with the two merged under the Northern Bank management team. On 19 November 2012 the bank formally dropped its Northern Bank name, the first Danish branding was unveiled with new signage at the companys head office in Donegall Square. Since the rebrand, cheques issued by the bear the legend Danske Bank is a trading name of Northern Bank Limited. Danske Bank continues to issue sterling banknotes in Northern Ireland
25.
Belfast
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Belfast is the capital and largest city of Northern Ireland, the second largest on the island of Ireland, and the heart of the tenth largest Primary Urban Area in the United Kingdom. On the River Lagan, it had a population of 286,000 at the 2011 census and 333,871 after the 2015 council reform, Belfast was granted city status in 1888. Belfast played a key role in the Industrial Revolution, and was an industrial centre until the latter half of the 20th century. It has sustained a major aerospace and missiles industry since the mid 1930s, industrialisation and the inward migration it brought made Belfast Irelands biggest city at the beginning of the 20th century. Today, Belfast remains a centre for industry, as well as the arts, higher education, business, and law, additionally, Belfast city centre has undergone considerable expansion and regeneration in recent years, notably around Victoria Square. Belfast is served by two airports, George Best Belfast City Airport in the city, and Belfast International Airport 15 miles west of the city. Although the county borough of Belfast was created when it was granted city status by Queen Victoria in 1888, the site of Belfast has been occupied since the Bronze Age. The Giants Ring, a 5, 000-year-old henge, is located near the city, Belfast remained a small settlement of little importance during the Middle Ages. The ONeill clan had a presence in the area, in the 14th century, Cloinne Aodha Buidhe, descendants of Aodh Buidhe ONeill built Grey Castle at Castlereagh, now in the east of the city. Conn ONeill of the Clannaboy ONeills owned vast lands in the area and was the last inhabitant of Grey Castle, evidence of this period of Belfasts growth can still be seen in the oldest areas of the city, known as the Entries. Belfast blossomed as a commercial and industrial centre in the 18th and 19th centuries, industries thrived, including linen, rope-making, tobacco, heavy engineering and shipbuilding, and at the end of the 19th century, Belfast briefly overtook Dublin as the largest city in Ireland. The Harland and Wolff shipyards became one of the largest shipbuilders in the world, in 1886 the city suffered intense riots over the issue of home rule, which had divided the city. In 1920–22, Belfast became the capital of the new entity of Northern Ireland as the island of Ireland was partitioned, the accompanying conflict cost up to 500 lives in Belfast, the bloodiest sectarian strife in the city until the Troubles of the late 1960s onwards. Belfast was heavily bombed during World War II, in one raid, in 1941, German bombers killed around one thousand people and left tens of thousands homeless. Apart from London, this was the greatest loss of life in a raid during the Blitz. Belfast has been the capital of Northern Ireland since its establishment in 1921 following the Government of Ireland Act 1920 and it had been the scene of various episodes of sectarian conflict between its Catholic and Protestant populations. These opposing groups in conflict are now often termed republican and loyalist respectively. The most recent example of conflict was known as the Troubles – a civil conflict that raged from around 1969 to 1998
26.
National Australia Bank
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National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation and customers. NAB was ranked 21st largest bank in the world measured by market capitalisation and 41st largest bank in the world as measured by assets in 2014. As of November 2014 NAB operated 1,590 branches and service centres, NAB has a AA- long term issuer rating by Standard & Poors. National Australia Bank was formed as National Commercial Banking Corporation of Australia Limited in 1982 by the merger of National Bank of Australasia, the resulting company was subsequently renamed National Australia Bank Limited. The expanded financial base of the merged entity triggered significant offshore expansion over ensuing years, representative offices were established in Beijing, Chicago, Dallas, Seoul, San Francisco, Kuala Lumpur, Athens, Frankfurt, Atlanta, Bangkok, Taipei, Shanghai, Houston and New Delhi. In 1987, NAB bought Clydesdale Bank and Northern Bank from Midland Bank and it rebranded Northern Bank branches in the Republic of Ireland to National Irish Bank and changed both banks logos from that of the Midland Bank. In 1990, NAB bought Yorkshire Bank, further acquisitions followed – Bank of New Zealand in 1992, which at the time had about a 26% market share in the New Zealand market, and Michigan National Bank in 1995. NAB encountered a period in the period 2000–2005. The foreign currency trader fraud was the catalyst for the resignations of CEO Frank Cicutto, the resignations were preceded by a Board revolt where Catherine Walters emerged as a whistle blower citing serious culture issues at the company having led to the string of failures. Frank Cicutto was CEO of NAB from 1999 to 2004, the Australian economic environment during his leadership was stable and productive after 17 consecutive years of economic growth since 1992, averaging 3.3 per cent per annum. In February 2004, John Stewart was appointed CEO of NAB following the sacking of Cicutto, Stewart proceeded with a far reaching re-organisation of the company along regional lines leading to the appointment of Ahmed Fahour as the CEO of Australia in September 2004. On 20 February 2009 Fahour stepped down from the Principal Board and Group Executive Committee. In 2005, NAB announced a cut of 2,000 Australian jobs as part of a global cost-cutting program with the intention of cutting around 4,200 positions – about 10. 5% of its total workforce globally. It began to back office positions offshore, beginning with a pilot with 23 jobs from the accounts payable department in Melbourne going to Bangalore. Later that year, it sold Northern Bank and National Irish Bank to the Danish Danske Bank, over 200 additional jobs had been sent offshore by 2006. As part of the culture change program, a new Australian head office was built at Docklands in Melbourne. This building is characterised by its open layout and was officially opened in October 2004. After Cameron Clyne became CEO in 2009, the Docklands building became the global headquarters replacing 500 Bourke Street, by 2006, NAB had turned its fortunes around, reporting an industry record $4.3 billion profit and winning two local Bank of the Year awards
27.
Midland Bank
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Midland Bank Plc was one of the Big Four banking groups in the United Kingdom for most of the 20th century. The bank was founded as the Birmingham and Midland Bank in Union Street, Birmingham and it expanded in the Midlands, absorbing many local banks, and merged with the Central Bank of London Ltd. in 1891, becoming the London City and Midland Bank. After a period of expansion, including the acquisition of many smaller banks. By 1934 it was the largest deposit bank in the world, on 10 June 2015, HSBC announced that it would be rebranding its UK branches. HSBC chairman Douglas Flint described the Midland brand as odds-on favourite for a return to the high street, in September 2015, it was announced that the Midland Bank name would not be revived and the UK branch network would be branded HSBC UK. Midland Bank was founded by Charles Geach, its first manager in Union Street, Birmingham, England, Geach had formerly worked at the Bank of England, he secured the business support and capital backing of leading merchants and manufacturers in Birmingham. In the 1830s and 1840s, Midland occupied an important niche in Birmingham business, Midland acquired Stourbridge Old Bank in 1851 and Nichols, Baker and Crane of Bewdley in 1862. Both firms had been pioneers of banking in the West Midlands, the origins of the Stourbridge bank can be traced back to 1762, from the 1880s, it expanded its customer base by opening new branches and acquiring other banks. In 1891 it acquired the Central Bank of London and, in 1898, by 1918, with deposits of £335 million, it ranked as the largest bank in the world. Edward Hopkinson Holden led the bank at this time first as Managing Director from 1898 to 1908 and then as Chairman and he oversaw more than 20 bank amalgamations between 1891 and 1918, and opened new branches throughout England and Wales. Holden also expanded overseas, it was the first British bank to set up a foreign department and, by 1919. From 1907, these correspondents included The Hongkong and Shanghai Banking Corporation, after the First World War, the leading British banks entered an agreement with the government that they would not attempt further amalgamations without Treasury approval. As a result, Midland turned its attention to expanding its network, adding new banking services, mechanising its systems. In 1958 it acquired Forward Trust, which became a leader in installment finance, in 1967 Midland acquired a share in Montagu Trust, the owner of Samuel Montagu & Co. and thereby became the first British clearing bank to own a London merchant bank. Samuel Montagu, with its own history dating back to 1853, through the acquisition of Samuel Montagu & Co, Midland also gained a majority share in Guyerzeller Bank AG in Switzerland. Further diversification followed in 1972, when Midland was the member of the consortium that acquired the Thomas Cook travel business. After becoming sole owner in 1977, Midland sold its interest in 1992, in 1974 Midland started to open branches or representative offices in overseas countries and to acquire other international banks. In 1980 Midland acquired a controlling interest in Trinkaus & Burkhardt KGaA, in 1984 in a bid to grab market share Midland scrapped current account charges
28.
Northern Ireland
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Northern Ireland is a constituent unit of the United Kingdom in the north-east of Ireland. It is variously described as a country, province, region, or part of the United Kingdom, Northern Ireland shares a border to the south and west with the Republic of Ireland. In 2011, its population was 1,810,863, constituting about 30% of the total population. Northern Ireland was created in 1921, when Ireland was partitioned between Northern Ireland and Southern Ireland by an act of the British parliament, Northern Ireland has historically been the most industrialised region of Ireland. After declining as a result of the political and social turmoil of the Troubles, its economy has grown significantly since the late 1990s. Unemployment in Northern Ireland peaked at 17. 2% in 1986, dropping to 6. 1% for June–August 2014,58. 2% of those unemployed had been unemployed for over a year. Prominent artists and sports persons from Northern Ireland include Van Morrison, Rory McIlroy, Joey Dunlop, Wayne McCullough, some people from Northern Ireland prefer to identify as Irish while others prefer to identify as British. Cultural links between Northern Ireland, the rest of Ireland, and the rest of the UK are complex, in many sports, the island of Ireland fields a single team, a notable exception being association football. Northern Ireland competes separately at the Commonwealth Games, and people from Northern Ireland may compete for either Great Britain or Ireland at the Olympic Games. The region that is now Northern Ireland was the bedrock of the Irish war of resistance against English programmes of colonialism in the late 16th century, the English-controlled Kingdom of Ireland had been declared by the English king Henry VIII in 1542, but Irish resistance made English control fragmentary. Victories by English forces in war and further Protestant victories in the Williamite War in Ireland toward the close of the 17th century solidified Anglican rule in Ireland. In Northern Ireland, the victories of the Siege of Derry and their intention was to materially disadvantage the Catholic community and, to a lesser extent, the Presbyterian community. In the context of open institutional discrimination, the 18th century saw secret, militant societies develop in communities in the region and act on sectarian tensions in violent attacks. Following this, in an attempt to quell sectarianism and force the removal of discriminatory laws, the new state, formed in 1801, the United Kingdom of Great Britain and Ireland, was governed from a single government and parliament based in London. Between 1717 and 1775 some 250,000 people from Ulster emigrated to the British North American colonies and it is estimated that there are more than 27 million Scotch-Irish Americans now living in the US. By the close of the century, autonomy for Ireland within the United Kingdom, in 1912, after decades of obstruction from the House of Lords, Home Rule became a near-certainty. A clash between the House of Commons and House of Lords over a controversial budget produced the Parliament Act 1911, which enabled the veto of the Lords to be overturned. The House of Lords veto had been the unionists main guarantee that Home Rule would not be enacted, in 1914, they smuggled thousands of rifles and rounds of ammunition from Imperial Germany for use by the Ulster Volunteers, a paramilitary organisation opposed to the implementation of Home Rule
29.
Clydesdale Bank
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Clydesdale Bank plc is a commercial bank in Scotland. Formed in Glasgow in 1838, it is the smallest of the three Scottish banks, independent until it was purchased by Midland Bank in 1920, it formed part of the National Australia Bank Group between 1987 and 2016. Clydesdale Bank was divested from National Australia Bank in early 2016 and its holding company CYBG plc, trades on the London, CYBG plcs other banking business, Yorkshire Bank operates as a trading division of Clydesdale Bank plc under its banking licence. As with the two other Scottish banks, the Bank of Scotland and the Royal Bank of Scotland, Clydesdale Bank retains the right to issue its own banknotes, in March 1838, an advertisement appeared for a new joint stock banking company in Glasgow, the Clydesdale Banking Company. It was to be chiefly a local bank – having few branches –, the Bank duly opened for business in both cities in May 1838. Checkland described the Bank as the creation of a group of Glasgow businessmen of middling order, liberal radicals…who were active in the government and charities of the city. The driving figure behind the formation of the Bank was James Lumsden, a stationer by business, another member of the founding committee, Henry Brock, became the Banks first manager. Brock came of a merchant family, was an accountant and one of the founders of the Glasgow Savings Bank and these were supplemented by the acquisition of the Greenock Union Bank, formed in 1840, it had four branches in the Glasgow hinterland. Following the purchase of the Greenock Union, there was change in the structure of the Bank. In that year, Clydesdale became the first Scottish bank to produce a balance sheet. Clydesdale gained not only customers but 13 branches from the Western, a few months later came the acquisition of the Edinburgh and Glasgow Bank, which had been weakened by the same economic disturbances. Five years later, in 1863, Clydesdale acquired the more successful Eastern Bank of Scotland, like Clydesdale, based in Dundee it was to have two separate offices and boards, one in Dundee, the other Edinburgh. Before opening for business it acquired the Dundee Commercial Bank to serve as its Dundee office, much of the growth in the Banks network had come from acquisitions and the management remained cautious regarding direct branch expansion. However, in 1865, a committee was formed to look at prospects and 16 branches were opened in two years, indeed, Clydesdale was one of the last Scottish banks to acquire a London office. In 1878, the City of Glasgow Bank failed for the time, leading again to an increase in Clydesdales deposits. The scale of the led to further debate on desirability of limited liability and, following legislation in 1879. Reid described the period 1890–1914 as the years, but that did not preclude steady expansion of the branch network – from 92 to 153. That was to mark the end of Clydesdales independent existence, in 1917 the Bank was approached by London City and Midland and, although initially resisted, Clydesdale Bank was sold in 1920
30.
Griffin
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The griffin, griffon, or gryphon is a legendary creature with the body, tail, and back legs of a lion, the head and wings of an eagle, and an eagles talons as its front feet. Because the lion was considered the king of the beasts and the eagle the king of birds. The griffin was thought of as king of all creatures. Griffins are known for guarding treasure and priceless possessions, in Greek and Roman texts, griffins and Arimaspeans were associated with gold. Indeed, in later accounts, griffins were said to lay eggs in burrows on the grounds, in antiquity it was a symbol of divine power and a guardian of the divine. The derivation of this remains uncertain. It could be related to the Greek word γρυπός, meaning curved, also, this could have been an Anatolian loan word, compare Akkadian karūbu, and similar to Cherub. A related Hebrew word is כרוב, Most statuary representations of griffins depict them with bird-like talons, although in some older illustrations griffins have a lions forelimbs, they generally have a lions hindquarters. Its eagles head is given prominent ears, these are sometimes described as the lions ears, but are often elongated. Infrequently, a griffin is portrayed without wings, or a wingless eagle-headed lion is identified as a griffin, in 15th-century and later heraldry, such a beast may be called an alce or a keythong. In heraldry, a griffin always has forelegs like an eagles hind-legs, there is evidence of representations of griffins in Ancient Iranian and Ancient Egyptian art dating back to before 3000 BC. In Egypt, a griffin can be seen in a cosmetic palette from Hierakonpolis, known as the Two Dog Palette, which is dated to ca. In Iran, griffins appeared on seals from Susa as early as 3000 BC. Griffin depictions appear in the Levant, Syria. Early depictions of griffins in Ancient Greek art are found in the 15th century BC frescoes in the Throne Room of the Bronze Age Palace of Knossos and it continued being a favored decorative theme in Archaic and Classical Greek art. In Central Asia, the griffin appears about a years after Bronze Age Crete, in the 5th–4th centuries BC. The Achaemenids considered the griffin a protector from evil, witchcraft, the modern generalist calls it the lion-griffin, as for example, Robin Lane Fox, in Alexander the Great,1973,31 and notes p. The Pisa Griffin is a bronze sculpture that has been in Pisa in Italy since the Middle Ages. It is the largest bronze medieval Islamic sculpture known, at three feet tall, and was probably created in the 11th century in Al-Andaluz
31.
The Irish Times
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The Irish Times is an Irish daily broadsheet newspaper launched on 29 March 1859. The editor is Kevin OSullivan who succeeded Geraldine Kennedy in 2011, the Irish Times is published every day except Sundays. Though formed as a Protestant nationalist paper, within two decades and under new owners it had become the voice of Irish unionism. It is no longer considered a unionist paper, it is perceived as being politically liberal and progressive. The papers most prominent columnists include writer and arts commentator Fintan OToole, former Taoiseach, Garret FitzGerald was also a columnist. Senior international figures, including Tony Blair and Bill Clinton, have written for its op-ed page and its most prominent columns have included Drapier, Rite and Reason and the long-running An Irishmans Diary. An Irishmans Diary was penned by Patrick Campbell in the forties, by Seamus Kelly from 1949-1979, since Myers move to the rival Irish Independent, An Irishmans Diary is usually the work of Frank McNally. On the sports pages, Philip Reid is the papers golf correspondent, one of its most famous columns was the biting and humorous Cruiskeen Lawn satire column written by Myles na gCopaleen, the pen name of Brian ONolan who also wrote books using the name Flann OBrien. Cruiskeen Lawn is an Anglicised spelling of the Irish words cruiscín lán, Cruiskeen Lawn made its debut in October 1940 and appeared with varying regularity until ONolans death in 1966. The first appearance of a newspaper using the name The Irish Times occurred in 1823, the title was revived as a thrice weekly publication by Major Lawrence E. Knox, with the first edition being published on 29 March 1859. It was founded as a moderate Protestant Nationalist newspaper, reflecting the politics of Knox and its headquarters were at 4 Lower Abbey Street in Dublin. In its early days, its main competitor was the Dublin Daily Express, after Knoxs death in 1873 the paper was sold to the widow of Sir John Arnott, MP, a former Lord Mayor of Cork and owner of Arnotts, one of Dublins major Department stores. The sale, for £35,000, led to two major changes and its headquarters was shifted to 31 Westmoreland Street, remaining in buildings on or near that site until 2005. Its politics also shifted dramatically, becoming predominantly Protestant and Unionist, the paper, along with the Irish Independent and various regional papers, called for the execution of the leaders of the failed 1916 Easter Rising. Though the paper became a listed company in 1900, the family continued to hold a majority shareholding until the 1960s. The last member of the Arnott family to sit on the board was Sir Lauriston Arnott. The editor during the 1930s, R. M. Smyllie, had strong anti-fascist views, later, The Irish Times, like other national newspapers, had problems with Irish Government censorship during World War II. The Times was largely pro-Allied and was opposed to the Éamon de Valera governments policy of neutrality, in 1974, ownership was transferred to a non-charitable trust, The Irish Times Trust
32.
Maersk
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A. P. Moller–Maersk Group, also known as Maersk, is a Danish business conglomerate. A. P. Møller – Maersk Group has activities in a variety of sectors, primarily within the transport. It has been the largest container ship operator and supply vessel operator in the world since 1996, as of September 2016 the company is in the process of splitting its shipping and energy interests into separate divisions. It ranked 148 on the Forbes Global 2000 list for 2015, a. P. Møller – Maersk Group started as the shipping company Dampskibsselskabet Svendborg founded by captain Peter Mærsk-Møller and his son Arnold Peter Møller in Svendborg, April 1904. A. P. Møller had four children, all by his first wife Chastine Estelle Roberta Mc-Kinney, a. P. Møllers second child was Arnold Mærsk Mc- Kinney Møller. In 1939, Mærsk Mc-Kinney Møller became a partner in the company, following the death of A. P. Møller in June 1965, he became CEO of the company and held this post until 1993, when he was succeeded by Jess Søderberg. Beginning in 1965, Mærsk Mc-Kinney Møller also served as chairman and did not relinquish this position until December 2003. Mærsk Mc-Kinney Møller was until his one of the managing owners of the company and was chairman of Odense Steel Shipyard until 2 May 2006. Møller, who was a deeply religious Christian, attached a banner with a white seven pointed star on both sides of the black chimney on the steamship Laura when his wife recovered from illness. In a letter to his wife, P. M, the same star later became the emblem of the Maersk Group. In May 2014 the company lifted its first-quarter net profit to $1. 02bn as a result of Maersk Line improving its operations. Container shipping and related activities is the largest business area for A. P. Moller – Maersk and it comprises worldwide container services, logistics and forwarding solutions and terminal activities under the brand names, Maersk Line, Safmarine, and Damco. Since 1996, Mærsk is the largest container shipping company in the world, the largest operating unit in A. P. Moller – Maersk by revenue and staff is Maersk Line. In 2013 the company described itself as the worlds largest overseas cargo carrier, as per September 2015, being still the largest container fleet, it holds 15. 1% of the global TEU. In 2006, the largest container ship in the world to that date, the E-class vessel Emma Maersk, was delivered to Maersk Line from Odense Steel Shipyard. Seven other sisterships have since been built, and on 21 February 2011, Maersk ordered 10 even larger ships from Daewoo. The first were delivered in 2013 and it held options for 10–20 more, and in June 2011 placed follow-on orders for a second batch of ten sisterships with the same shipyard, but cancelled its option for a third batch of ten. As of February 2010, Maersk had a book for new ships totalling 857000TEU
33.
Carlsberg Group
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The Carlsberg Group is a brewing company founded in 1847 by J. C. The companys first headquarters were located in Copenhagen, Denmark, since Jacobsens death in 1887, the majority owner of the company has been the Carlsberg Foundation. The companys flagship brand is Carlsberg Beer but it also brews Tuborg, Kronenbourg, Somersby cider, Russias best-selling beer Baltika, Belgian Grimbergen abbey beers, and more than 500 local beers. After merging with the assets of Norwegian conglomerate Orkla ASA in January 2001. After a failed attempt by Orkla, Carlsberg became the sole owner after purchasing Orklas share in the brewery in 2004. It is the leading beer seller in Russia with about a 40 percent share of the market, in 2009 Carlsberg ranked fourth worldwide, and employed around 45,000 people. Carlsberg was founded by J. C, Jacobsen, a philanthropist and avid art collector. With his fortune he amassed an art collection which is now housed in the Ny Carlsberg Glyptotek in central Copenhagen. The first brew was finished on 10 November 1847, and the export of Carlsberg beer began in 1868 with the export of one barrel to Edinburgh, Jacobsens son Carl opened a brewery in 1882 named Ny Carlsberg forcing him to rename his brewery Gamle Carlsberg. The companies were merged and run under Carls direction in 1906, Jacobsen set up the Carlsberg Laboratory in 1875, which worked on scientific problems related to brewing. It featured a Department of Chemistry and a Department of Physiology, the species of yeast used to make pale lager, Saccharomyces carlsbergensis, was isolated by Emil Christian Hansen at the laboratory in 1883 and bears its name, this was shared freely by Carlsberg. The Carlsberg Laboratory also developed the concept of pH and made advances in protein chemistry, in 1972, the Carlsberg Research Centre was established and the Carlsberg Laboratory is now an independent unit of the Centre. Because of a conflict with his son Carl, Jacobsens brewery was left to the Foundation upon his death in 1887, the first brewery to be built outside Denmark was in Blantyre, Malawi in 1968. Carlsberg merged with Tuborg breweries in 1970 forming the United Breweries AS, Carlsberg became the sole owner of Carlsberg-Tetley in 1997. In 2008 Carlsberg Group, together with Heineken, bought Scottish & Newcastle, in 2013 the company joined leading alcohol producers as part of a producers commitments to reducing harmful drinking. The old brewery in Copenhagen is currently open for tours, famous visitors have included Winston Churchill in 1950, Queen Elizabeth II in 1957, and Yuri Gagarin in 1962. The Carlsberg Group divides their operations into three areas, Northern & Western Europe, Eastern Europe and Asia. Baltic Beverages Holding is currently owned by Carlsberg, previously, it was a joint venture between Carlsberg and Scottish & Newcastle in Russia
34.
Chr. Hansen
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Hansen A/S is a global company based in Hørsholm, Denmark which produces natural ingredients for the food, beverage, dietary supplements and agricultural industry. The company is a supplier of food cultures, probiotics, enzymes, Hansen A/S has development centers in Denmark, the United States, France and Germany including research facilities in Denmark and France. A large percentage of the engage in research and development for the international food. Hansen A/S has five main sites, two in Denmark and one each in France, Germany and the US. and an international presence in 30 countries. It has been listed on Nasdaq OMX Copenhagen since June 3,2010 and its flavorings division was purchased by Symrise in 2008. The company is named for its founder, Christian D. A. Hansen, Hansen began the company in 1874 as a joint venture with pharmacist H. P. Initial products included animal rennet for cheese-making as well as annatto-based coloring agents for butter, operations in the United States were begun shortly thereafter in 1878. Their lines soon expanded to include starter cultures for cheese, yogurt, hansens son Johannes took over the company in 1916 upon his fathers death. That same year, the company production in England to bypass the German World War I blockade of exports to Great Britain. Facilities in Italy and Germany followed in 1936 during the inter-war period, further international expansion followed, and the 1970s and 1980s saw a period of acquisition of other firms. In 1991, the Lundbeck Foundation obtained majority control of the company, additional growth and consolidation followed, and Chr. Hansen Group was later spun off into a separate, independent company in 2005
35.
Coloplast
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Coloplast is an international company that develops, manufactures and markets medical devices and services related to ostomy, urology, continence, and wound care. Coloplast was founded in 1957 by Aage Louis-Hansen, and his son Niels Peter Louis-Hansen owns 20% of the company and is Deputy chairman. It employs more than 9,700 people and operates around the world, with activities in 53 countries and production in Denmark, Hungary, France, China. It has its headquarters in Humlebæk, Denmark and its U. S. headquarters is in Minneapolis, Minnesota. The company supplies products to hospitals and institutions as well as wholesalers and retailers, in selected markets, Coloplast is a direct supplier to consumers. The company had revenues of DKK14.681 billion in 2015/2016, europe constitutes the biggest market with 63% of sales while 22% of sales are in North America and 15% in the rest of the world. Coloplast is noted on the Danish Stock Exchange, and has for a number of years been represented among the 20 most traded shares in the country, in 2015 Coloplast was listed as the 33rd most innovative company by Forbes Magazine
36.
DSV (company)
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DSV A/S is a Danish transport and logistics company offering transport services worldwide by road, air, sea and train. H. Bachmann, Frans Maas, ABX LOGISTICS 2008). In October 2015 DSV signed an agreement to acquire UTi Worldwide, the deal was closed in January 2016. With headquarters in Hedehusene, Denmark, and offices in more than 80 countries, DSV employs more than 40,000 people and collaborates with partners, DSV is listed on NASDAQ OMX Copenhagen and included in the OMXC20 index as one of the 20 most traded stocks. The company is structured in three divisions, DSV Road, DSV Air & Sea and DSV Solutions and its main activities lie within the European road transport network, and its global air and sea freight forwarding business. The group also has a growing contract logistics business, jens Bjørn Andersen became CEO in August 2008. In 2016 DSV reported a net revenue of Euro 9,094 million, in 1976 Leif Tullberg and nine independent haulers established DSV, an acronym for “De Sammensluttede Vognmænd af 13-71976 A/S”. Leif Tullberg remained CEO until his retirement in 2005, during the first decade the company mainly functioned as a cartage department for the owners, handling contracting haulage and deliveries. Seeking a foothold on the market, DSV bought two competing export companies in 1989, Borup Autotransport A/S and Hammerbro A/S-Bech Trans. Next acquisitions on the road to European operations were Samson Transport Co, A/S in 1997 and Svex Group A/S in 1999. The purchase of J. H. Bachmann in 2005 reinforced the position within international air, the acquisition of the Dutch Frans Maas Group in 2006 placed DSV as a Pan-European road transport and logistics supplier – and one of the three largest in Europe. With the acquisition of ABX LOGISTICS in 2008, DSV has also gained presence in South America and is now represented on all continents, with the most recent acquisition of UTi Worldwide, Inc. DSV is now the fourth largest transport and logistics company). Following the purchase of Frans Maas in 2006, the transport activities changed name from DFDS Transport to DSV, in order to create a unified global brand as well as to minimize confusion
37.
FLSmidth
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A/S is a global engineering company based in Copenhagen, Denmark. With almost 13,000 employees worldwide, it provides global cement and mineral industries with factories, machinery, services, FLSmidth is listed on NASDAQ OMX Nordic Copenhagen in the C20 index and has offices in more than 50 countries worldwide. A/S was founded in Copenhagen on 2 January 1882 by Frederik Læssøe Smidth and it was initially a consultancy business whose main focus was to purchase machinery and build small machines for local craftsmen. Within a few years the firm, called “Technical Bureau” at the time, specialised in machinery for the brick, in 1887 two engineers, Poul Larsen and Alexander Foss, were made partners and the company name was changed to F. L. Smidth & Co. In 1887, the first FLSmidth cement plant was built near Limhamn in Sweden, the company grew and in 1890 the first international office opened in London. Offices in Paris, New York, Tokyo, Peking and other cities followed. In 1957, F. L. Smidth machinery accounted for 40 percent of all cement production in the world, throughout the 1990s, product companies such as Pfister, Ventomatic and MAAG Gear were acquired. In 1990, the Group acquired Fuller Company and established the F. L. Smidth-Fuller Engineering Group, two minerals processing divisions, Fuller Mineral Processing and FLSmidth Mineral Processing, were set up in FLSmidth and Fuller. In 1997, the company was named FFE Minerals after merging the two separate minerals divisions into one single company, in the beginning of the 21st century the Group began to continuously sell off non-core activities. On 2 April 2007, FFE Minerals acquired Rahco International, Inc, in May and October 2008, FLSmidth acquired Pneumapress Inc. and Centry an engineering consultancy based in Utah, USA. In 2009, FLSmidth acquired Conveyor Engineering Inc. and EEL India Limited on 1 March 2009 and 28 July 2009 respectively and these acquisitions gave FLSmidth a know-how in design and supply of major bulk material handling systems for cement, mining, heavy industrial facilities and bagging equipment worldwide. In 2012, FLSmidth acquired Decanter Machine, Inc. and Mayer Bulk Pty Ltd. that provide construction, commissioning, maintenance, the business was divested to Metso Paper Sweden AB by means of a license agreement. The licence was perpetual and exclusive in relation to FLSmidth, over the past decade FLSmidth has developed from a diversified conglomerate into a specialised and focused business group supported by two business segments, Cement and Minerals. Anticipating a huge growth in Minerals, FLSmidth launched its new Group Strategy in February 2012 which was designed to support, as a consequence of the new Group Strategy, FLSmidth was now structured in four divisions, Customer Services, Material Handling, Mineral Processing and Cement. However, following a strategy health-check, FLSmidth decided to change its organisational structure, as of 1 January 2015, FLSmidth stands organised in four divisions - two project divisions, a product division and a service division. The two former divisions Material Handling and Mineral Processing were merged into one Minerals division, Cement and Customer Services will be maintained as separate divisions. A new Product Companies division was created to foster growth of FLSmidths product brands and this new division will serve FLSmidths six key industries, the Minerals and Cement divisions as well as adjacent industries
38.
Genmab
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Genmab A/S is a Danish biotechnology company, founded in February 1999 by Florian Schönharting, at the time managing director of BankInvest Biomedical venture fund. Internationally, it operates through the subsidiaries Genmab BV in Utrecht, The Netherlands, the Company is publicly traded on the NASDAQ OMX Copenhagen A/S. Daratumumab is in development for additional multiple myeloma indications and for non-Hodgkin’s lymphoma. They also have a clinical and pre-clinical product pipeline. Genmabs technology is licensed from Medarex to create fully human high affinity antibodies using transgenic mice and this technology is called the HuMab-Mouse technology. It can be generated within months and can be selected to bind to specific antigens such as tumor cells, Genmab also has developed its own technology called UniBody, which is used to make smaller antibodies in contrast to the traditional full sized monoclonal antibody. Its smaller size allows for distribution over larger target areas like tumors. The UniBody can only bind to one site and doesn’t elicit an immune response by binding to two sites and over-activating cell growth. It does not kill target cells but rather silences or inhibits them, thus it can be used to treat certain cancers, inflammations, allergies and asthmas, where killing the cell isn’t the objective. The technology modifies the human IgG4 antibody, normally the IgG4 is considered inert and doesn’t elicit an immune response. However, they are unstable and fall apart easily, which makes them unsuitable for therapeutic use. Genmab changes the shape of the IgG4 antibody by eliminating the hinge and this halves the antibody, creating a smaller version now known as their UniBody. This smaller version can only bind to one site and does not stimulate cancer cells to grow, Genmab was founded as a European spin-off of American Biotech company Medarex in February 1999. Danish investment firm BankInvest, under Florian Schönharting, provided the investment for the company to start up in Copenhagen. Lisa Drakeman, a president at Medarex and wife of Donald Drakeman, Medarexs CEO. Like Medarex, Genmab began work producing monoclonal antibodies for life-threatening or debilitating diseases, rising quickly in the Biotech world, Genmab attracted many investors, especially venture capital firms. The company went public in October 2000, earning 1.56 billion Danish kroner and that same year, Genmab also had a licensing agreement with GlaxoSmithKline worth $1.6 billion for the antibody ofatumumab. Besides GSK, Genmab also has licensing deals with Amgen, Roche, in 2005 the Biotechnology Industry Organization and the Long Island Life Sciences Initiative honored Genmab with a James D. Watson Helix Award
39.
GN Store Nord
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GN Store Nord A/S is a Danish manufacturer of hearing instruments and audiological diagnostics equipments and headsets. It was founded as The Great Northern Telegraph Company in Denmark in June 1869 and it was set up as a merger of three recently established telegraph companies initiated by Danish industrial mogul Carl Frederik Tietgen. The aim of the firm was to create a worldwide telegraph company, the starting point of The Great Northern Telegraph Company was a concession agreement, which C. F. Tietgen made with the Russian Tzar in 1869, the agreement gave The Great Northern Telegraph Company exclusive rights – and obligations – to establish and run a telegraph line in Russia. This represented a great task for the company in establishing connections from Europe to the Far East. The Russian authorities ran the construction work in Russia. They had already set up a line in parts of Siberia but were looking for a business partner to cover China. In the following years, the line expanded massively – both in Europe and in Asia. First, Oslo, London and Paris were covered, later, operations took place along the coast of China ranging from Hong Kong to Shanghai and further into Japan where the first telegraph station opened in Nagasaki in 1897. In addition to the line, telegraph stations and offices opened at several locations. In 1897, negotiations began about a potential connection going from Scotland to the United States through the Faroe Islands, in 1906, the cable was established, although without the final connection to the United States, which had to wait for almost 60 years to become a reality. When the transatlantic connection was established, however, it represented a remarkable expansion. The beginning of the 20th century was characterized by several wars and disputes, world War I and largely the Russian Revolution changed the map of Europe, but this only meant an increase in demand for telegraphy. Thus, the company succeeded in prolonging its concession agreement in 1921, the late 1930s, however, presented great challenges as competition from wireless telegraphy was becoming increasingly severe. Although broken lines were repaired and re-established after the war the company had to acknowledge that an era was over, thus, the new strategy was to focus on a broader segment by investing in various companies across sectors. This strategy was initiated in 1939 with the investment in the battery factory Hellesens, over the following decades, The Great Northern Telegraph Company balanced between investing in the telecommunications industry and other industries. On the industry side, it invested in such as Lauritz Knudsen, which produced electrical goods, and in 1947. Other acquisitions were Telematic which produced telephones, Elmi which produced measuring equipment, GN Store Nord In 1985, The Great Northern Telegraph Company changed its name to GN Store Nord with the aim of creating a new group identity and organizing its businesses
