Financial services

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises. Financial services companies are present in all economically developed geographic locations and tend to cluster in local, national and international financial centers such as London, New York City, Tokyo; the term "financial services" became more prevalent in the United States as a result of the Gramm-Leach-Bliley Act of the late 1990s, which enabled different types of companies operating in the U. S. financial services industry at that time to merge. Companies have two distinct approaches to this new type of business. One approach would be a bank which buys an insurance company or an investment bank, keeps the original brands of the acquired firm, adds the acquisition to its holding company to diversify its earnings.

Outside the U. S. non-financial services companies are permitted within the holding company. In this scenario, each company still looks independent, has its own customers, etc. In the other style, a bank would create its own brokerage division or insurance division and attempt to sell those products to its own existing customers, with incentives for combining all things with one company. A commercial bank is what is referred to as a bank; the term "commercial" is used to distinguish it from an investment bank, a type of financial services entity which instead of lending money directly to a business, helps businesses raise money from other firms in the form of bonds or stock. The primary operations of commercial banks include: Keeping money safe while allowing withdrawals when needed Issuance of chequebooks so that bills can be paid and other kinds of payments can be delivered by the post Provide personal loans, commercial loans, mortgage loans Issuance of credit cards and processing of credit card transactions and billing Issuance of debit cards for use as a substitute for cheques Allow financial transactions at branches or by using automatic teller machines Provide wire transfers of funds and electronic fund transfers between banks Facilitation of standing orders and direct debits, so payments for bills can be made automatically Provide overdraft agreements for the temporary advancement of the bank's own money to meet monthly spending commitments of a customer in their current account.

Provide internet banking system to facilitate the customers to view and operate their respective accounts through internet. Provide charge card advances of the bank's own money for customers wishing to settle credit advances monthly. Provide a check guaranteed by the bank itself and prepaid by the customer, such as a cashier's check or certified check. Notary service for financial and other documents Accepting the deposits from customer and provide the credit facilities to them. Sell investment products like mutual funds Etc; the United States is the largest location for commercial banking services. Underwriting debt and equity for the private & public sector in order for such entities to raise capital. Mergers and acquisitions - Work to underwrite & advise companies on mergers or takeovers. Structured finance - Development, intricate products for high net worth individuals & institutions with more intricate financial needs. Restructuring - Assist in financially reorganizing companies Market maker - Provide liquidity to the markets by both buying & selling financial instruments with their own account in hopes of profiting off the Bid–ask spread.

Sales and trading - Promote trade ideas to institutions and high net worth individual in order to act as a broker for their services. Proprietary trading - Trade off of their own accounts with a variety of investment, trading & arbitrage strategies in order to profit. Securities research - Maintain their own department that services to assist their traders, clients & maintain a public stance on specific securities & industries. Broker Services - Buy & sell securities on behalf of their clients. Prime Brokerage - An exclusive type of bundled broker service meant to service the needs of hedge funds. Private banking - Private banks provide banking services to high-net-worth individuals. Many financial services firms require a person or family to have a certain minimum net worth to qualify for private banking service. New York City and London are the largest centers of investment banking services. NYC is dominated by U. S. domestic business, while in London international business and commerce make up a significant portion of investment banking activity.

Foreign exchange services are provided by many banks and specialist foreign exchange brokers around the world. Foreign exchange services include: Currency exchange - where clients can purchase and sell foreign currency banknotes. Wire transfer - where clients can send funds to international banks abroad. Remittance - where clients that are migrant workers send money back to their home country. London handled 36.7% of global currency transactions in 2009 – an average daily turnover of US$1.85 trillion – with more US dollars traded in London than New York, more Euros traded than in every other city in Europe combined. Collective investment fund - A fund that acts as an investment pool so investors can put money into a fund that will reinvest it into a variety of securities based upon their common, outlined investment goal. Investment Advisory Offices - Run by Registered I

Whitfield Barracks

Whitfield Barracks were barracks in Tsim Sha Tsui, Hong Kong. It was named after Henry Wase Whitfield, appointed commander of the British Army in Hong Kong in 1869; the area is now the site of Kowloon Park, where four reconverted barrack blocks and parts of the former Kowloon West II Battery remain. The site was designated a military area in 1864. In the 1890s, the Barracks were first built for the British Indian garrisons. Twenty five barrack blocks were built by 1906. By 1910, there had been 85 barrack buildings constructed. A mosque was built at the southeastern corner of the site for worship by the garrison, it belonged to the British Military Force. The premises was returned to the Government of Hong Kong in 1967. In 1970, the Urban Council redeveloped the site into the Kowloon Park; the Government was criticised when the Executive Council approved plans in 1982 for a strip of retail premises fronting Nathan Road to be carved into the hill of Kowloon Park. The move was first proposed when the Barracks were converted into public open space in 1970, ignited some controversy.

It was opposed by the Urban Council, as well as the Muslim community. The rights for the development of the 5,410 sq metre strip were sold in February 1983 to a subsidiary of New World Development for $218 million. Four reconverted military barrack blocks remain: Blocks 58, S4, S61 and S62. Blocks S61 and S62 were constructed in circa 1910, they are a pair of identical two storied colonial military barrack blocks, were part of six barrack blocks built parallel to one another. The roofs are pitched with Chinese tiles with tar finish, they housed the former Hong Kong Museum of History from 1983 to 1998 before the completion of the present Museum at Chatham Road South. An extension block linking the two historical barracks was constructed in the 1980s to provide more space for the museum facilities; the blocks now house the Hong Kong Heritage Discovery Centre. Block S4 is situated at the southeast corner of Kowloon Park, along Haiphong Road, is accessed through its entrance on Nathan Road, it is a two-storied colonial military barrack building, similar in type to Blocks S61 and S62.

It now houses Resource Centre. Block 58 is situated along Haiphong Road, it is used as a godown of the Hong Kong Museum of History. Kowloon West II Battery was situated in the northwestern part of today's Kowloon Park, it was built between 1878 and 1880, was decommissioned by 1916. It commanded the entrance to Victoria Harbour between Green Island; when Whitfield Barracks was converted into Kowloon Park, the battery was converted into a children's adventure playground. The gun emplacements have been renovated. Naval guns have been mounted in each emplacement after they were discovered at a construction site at Chatham Road in Tsim Sha Tsui in 1980; the remaining Blocks 58, S4, S61 and S62 of the former barracks were listed as Grade III historic buildings from 1997 to 2009. They have been listed as Grade I historic buildings since 2009; the Kowloon West II Battery has been listed as a Grade I historic building since 1997. The conversion of Blocks S61 and S62 into the Hong Kong Heritage Discovery Centre won the 2007 UNESCO Asia Pacific Heritage Awards Jury Commendation for Innovation.

British Forces Overseas Hong Kong Victoria Barracks were located at the site of the current Hong Kong Park List of army barracks in Hong Kong List of barracks in Hong Kong Maps showing the location of the historic buildings within Kowloon Park entry


In angiosperms, a hypanthium or floral cup is a structure where basal portions of the calyx, the corolla, the stamens form a cup-shaped tube. It is sometimes called a floral tube, a term, used for corolla tube and calyx tube, it contains the nectaries of the plant. It is present in most flowering species; this differentiation between the hypanthium in particular species is useful for identification. Some geometric forms are obconic shapes as in toyon, whereas some are saucer-shaped as in Mitella caulescens, its presence is diagnostic of many families, including the Rosaceae and Fabaceae. In some cases, it can be so deep, with such a narrow top, that the flower can appear to have an inferior ovary - the ovary is below the other attached floral parts; the hypanthium is known by different common names in differing species. In the eucalypts, it is referred to as the gum nut. In myrtles the hypanthium can either surround the ovary tightly, it can vary in length. The rims around the outside of the hypanthium contain the calyx lobes or free sepals and either the stamen or multiple stamen that are attached at one or two points.

The flowers of the family Rosaceae, or the rose family, always have some type of hypanthium or at least a floral cup from which the sepals and stamens all arise, and, lined with nectar-producing tissue known as nectaries. The nectar is a sugary substance that attracts birds and bees to the flower, who take the pollen from the lining of the hypanthium and transfer it to the next flower they visit a neighbouring plant; the stamens borne on the hypanthium are the pollen-producing reproductive organs of the flower. The hypanthium helps in many ways with the reproduction and cross pollination pathways of most plants, it provides weather protection and a medium to sustain the lost pollen, increasing the probability of fertility and cross-pollination. The retained pollen can attach to pollinators such as birds, moths, bats and other animals. Wind can act as an instigator for fertilisation; the hypanthium is an adaptive feature for structural support. It helps the stem fuse together with the flower, in turn strengthening the bond and overall stability and integrity.

Foster, Tony. "Botany Word of the Day". Phytography. Retrieved 27 November 2014. Hypanthium images on MorphBank, a biological image database