1.
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
2.
Borsa Italiana
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Borsa Italiana S. p. A. based in Milan, is Italys stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries, following exchange privatisation in 1997, the Company was established and became effective since January 2,1998. It is now a subsidiary of the London Stock Exchange Group plc since June 23,2007, in 2015, overall capitalisation for listed company on Borsa Italiana was worth €465Bln, representing % of Italian GDP. Borsa Italiana is also known as Piazza Affari, after the city square of Milan where its headquarters is located. Borsa Italiana is chaired by Andrea Sironi while Raffaele Jerusalmi serves as CEO, the two, moreover, are also both members of the Board of Directors of London Stock Exchange Group. The Borsa di commercio di Milano was established by Eugène de Beauharnais, viceroy of the Napoleonic Kingdom of Italy, in March 2016, the London Stock Exchange Group announced it had agree to merge in an all-stock deal with Deutsche Borse. Borsa Italiana acts as a management firm operating with autonomy. It organises and manages the domestic market along with Italian. Among its leading tasks, Borsa Italiana supervises listed companies, defining rules for admission and listings, major trading markets for Borsa Italiana are, MTA, the leading equity market, which is devoted to mid and large-size companies
3.
Banca Intesa
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Banca Intesa S. p. A. was an Italian bank formed in 1998 from the merger of Cassa di Risparmio delle Provincie Lombarde and Banco Ambrosiano Veneto. In 1999 Banca Commerciale Italiana entered the group, which pursuant to the merger in 2001 changed its name in IntesaBCi, on 1 January 2003, crédit Agricole was the major shareholder of the group for 25. 51% in circa before the merger of Intesa with BCI. In 2007, Sanpaolo IMI merged into Banca Intesa and name changed to Intesa Sanpaolo SpA, Banca Intesa S. p. A. focuses in four main business areas. The Italian Subsidiary Banks Division includes banking subsidiaries rooted in regional markets, the International Subsidiary Banks Division involves subsidiaries abroad, providing retail and commercial banking services mainly in Central-Eastern Europe. Banca Intesa has branches and representative offices in Europe, Asia, Latin and North America, Banca Intesa and Sanpaolo IMI announced, in August 2006, that they will merge to found Italys biggest and Europes third largest banking group in terms of total assets. The effective merger date is 1 January 2007 and adopts the name of Intesa Sanpaolo S. p. A, the registered office of the new bank is in Turin and Milan shall remain as the secondary registered office
4.
Sanpaolo IMI
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Sanpaolo IMI S. p. A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers, on August 24,2006 a merger with Banca Intesa was announced, which on 1 December 2006 was approved by the joint meetings of the shareholders of Banca Intesa and Sanpaolo IMI. On 2 January 2007 the merger went into effect, thereby creating Intesa Sanpaolo, now the largest Italian bank, the new banking company based in Turin and is administered under the two-tier model, with the presence of a Supervisory Board and a Board of Management. This was the first application of this model in a major Italian company, Sanpaolo IMI was formed by many merger of banks, which in 1998 Istituto Bancario San Paolo di Torino merged with Istituto Mobiliare Italiano. Sanpaolo IMI had about 3,200 local offices where private, business and it also managed savings and retirement funds. The last honorary president was Luigi Arcuti, the last president was Enrico Salza, the last managing director was Alfonso Iozzo, the last general manager was Pietro Modiano.88 each
5.
Torre Intesa Sanpaolo
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Torre Intesa Sanpaolo in Turin, Italy is a skyscraper as well as the headquarters for the banking group Intesa Sanpaolo. At its summit, a rooftop greenhouse houses a restaurant, alongside a roof garden. At its base, a 364-seat multifunctional public hall/auditorium is hung from the transfer trusses four stories above ground level, the project was first introduced to the municipality in November 2007. After controversies on its height and the impact on the skyline, in December 2014 the construction was over and the first 50 employees of the Bank have moved in the new premises. Piedmont Region Headquarters Media related to Intesa Sanpaolo Building at Wikimedia Commons Grattacielo Intesa Sanpaolo, Intesa Sanpaolo Highline S. r. l
6.
Turin
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Turin is a city and an important business and cultural centre in northern Italy, capital of the Piedmont region and was the first capital city of Italy. The city is located mainly on the bank of the Po River, in front of Susa Valley and surrounded by the western Alpine arch. The population of the city proper is 892,649 while the population of the area is estimated by Eurostat to be 1.7 million inhabitants. The Turin metropolitan area is estimated by the OECD to have a population of 2.2 million, in 1997 a part of the historical center of Torino was inscribed in the World Heritage List under the name Residences of the Royal House of Savoy. Turin is well known for its Renaissance, Baroque, Rococo, Neo-classical, many of Turins public squares, castles, gardens and elegant palazzi such as Palazzo Madama, were built between the 16th and 18th centuries. This was after the capital of the Duchy of Savoy was moved to Turin from Chambery as part of the urban expansion, the city used to be a major European political center. Turin was Italys first capital city in 1861 and home to the House of Savoy, from 1563, it was the capital of the Duchy of Savoy, then of the Kingdom of Sardinia ruled by the Royal House of Savoy and finally the first capital of the unified Italy. Turin is sometimes called the cradle of Italian liberty for having been the birthplace and home of notable politicians and people who contributed to the Risorgimento, such as Cavour. The city currently hosts some of Italys best universities, colleges, academies, lycea and gymnasia, such as the University of Turin, founded in the 15th century, in addition, the city is home to museums such as the Museo Egizio and the Mole Antonelliana. Turins attractions make it one of the worlds top 250 tourist destinations, Turin is ranked third in Italy, after Milan and Rome, for economic strength. With a GDP of $58 billion, Turin is the worlds 78th richest city by purchasing power, as of 2010, the city has been ranked by GaWC as a Gamma World city. Turin is also home to much of the Italian automotive industry, the Taurini were an ancient Celto-Ligurian Alpine people, who occupied the upper valley of the Po River, in the center of modern Piedmont. In 218 BC, they were attacked by Hannibal as he was allied with their long-standing enemies, the Taurini chief town was captured by Hannibals forces after a three-day siege. As a people they are mentioned in history. It is believed that a Roman colony was established in 27 BC under the name of Castra Taurinorum, both Livy and Strabo mention the Taurinis country as including one of the passes of the Alps, which points to a wider use of the name in earlier times. In the 1st century BC, the Romans created a military camp, the typical Roman street grid can still be seen in the modern city, especially in the neighborhood known as the Quadrilatero Romano. Via Garibaldi traces the path of the Roman citys decumanus which began at the Porta Decumani. The Porta Palatina, on the side of the current city centre, is still preserved in a park near the Cathedral
7.
Italy
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Italy, officially the Italian Republic, is a unitary parliamentary republic in Europe. Located in the heart of the Mediterranean Sea, Italy shares open land borders with France, Switzerland, Austria, Slovenia, San Marino, Italy covers an area of 301,338 km2 and has a largely temperate seasonal climate and Mediterranean climate. Due to its shape, it is referred to in Italy as lo Stivale. With 61 million inhabitants, it is the fourth most populous EU member state, the Italic tribe known as the Latins formed the Roman Kingdom, which eventually became a republic that conquered and assimilated other nearby civilisations. The legacy of the Roman Empire is widespread and can be observed in the distribution of civilian law, republican governments, Christianity. The Renaissance began in Italy and spread to the rest of Europe, bringing a renewed interest in humanism, science, exploration, Italian culture flourished at this time, producing famous scholars, artists and polymaths such as Leonardo da Vinci, Galileo, Michelangelo and Machiavelli. The weakened sovereigns soon fell victim to conquest by European powers such as France, Spain and Austria. Despite being one of the victors in World War I, Italy entered a period of economic crisis and social turmoil. The subsequent participation in World War II on the Axis side ended in defeat, economic destruction. Today, Italy has the third largest economy in the Eurozone and it has a very high level of human development and is ranked sixth in the world for life expectancy. The country plays a prominent role in regional and global economic, military, cultural and diplomatic affairs, as a reflection of its cultural wealth, Italy is home to 51 World Heritage Sites, the most in the world, and is the fifth most visited country. The assumptions on the etymology of the name Italia are very numerous, according to one of the more common explanations, the term Italia, from Latin, Italia, was borrowed through Greek from the Oscan Víteliú, meaning land of young cattle. The bull was a symbol of the southern Italic tribes and was often depicted goring the Roman wolf as a defiant symbol of free Italy during the Social War. Greek historian Dionysius of Halicarnassus states this account together with the legend that Italy was named after Italus, mentioned also by Aristotle and Thucydides. The name Italia originally applied only to a part of what is now Southern Italy – according to Antiochus of Syracuse, but by his time Oenotria and Italy had become synonymous, and the name also applied to most of Lucania as well. The Greeks gradually came to apply the name Italia to a larger region, excavations throughout Italy revealed a Neanderthal presence dating back to the Palaeolithic period, some 200,000 years ago, modern Humans arrived about 40,000 years ago. Other ancient Italian peoples of undetermined language families but of possible origins include the Rhaetian people and Cammuni. Also the Phoenicians established colonies on the coasts of Sardinia and Sicily, the Roman legacy has deeply influenced the Western civilisation, shaping most of the modern world
8.
Eastern Europe
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Eastern Europe, also known as East Europe, is the eastern part of the European continent. There is no consensus on the area it covers, partly because the term has a wide range of geopolitical, geographical, cultural. There are almost as many definitions of Eastern Europe as there are scholars of the region, a related United Nations paper adds that every assessment of spatial identities is essentially a social and cultural construct. One definition describes Eastern Europe as an entity, the region lying in Europe with main characteristics consisting in Byzantine, Orthodox. Another definition was created during the Cold War and used more or less synonymously with the term Eastern Bloc, a similar definition names the formerly communist European states outside the Soviet Union as Eastern Europe. Historians and social scientists generally view such definitions as outdated or relegating, several definitions of Eastern Europe exist today, but they often lack precision or are extremely general. These definitions vary both across cultures and among experts, even scientists, recently becoming more and more imprecise. The Ural Mountains, Ural River, and the Caucasus Mountains are the land border of the eastern edge of Europe. Eurovoc, a multilingual thesaurus maintained by the Publications Office of the European Union, provides entries for 23 EU languages, of these, those in italics are classified as Eastern Europe in this source. Other official web-pages of the European Union classify some of the countries as strictly Central European. The East–West Schism is the break of communion and theology between what are now the Eastern and Western churches which began in the 11th century and lasts until this very day and it divided Christianity in Europe, and consequently the world, into Western Christianity and Eastern Christianity. Since the Great Schism of 1054, Europe has been divided between Roman Catholic and Protestant churches in the West, and the Eastern Orthodox Christian churches in the east, due to this religious cleavage, Eastern Orthodox countries are often associated with Eastern Europe. A cleavage of this sort is, however, often problematic, for example, Greece is overwhelmingly Orthodox, the fall of the Iron Curtain brought the end of the East–West division in Europe, but this geopolitical concept is sometimes still used for quick reference by the media. The Baltic states have seats in the Nordic Council as observer states and they also are members of the Nordic-Baltic Eight whereas Eastern European countries formed their own alliance called the Visegrád Group. Estonia Latvia Lithuania The Caucasus nations may be included in the definitions of Eastern Europe, the extent of their geographic or political affiliation with Europe varies by country and source. All three states are members of the European Unions Eastern Partnership program and the Euronest Parliamentary Assembly, on 12 January 2002, the European Parliament noted that Armenia and Georgia may enter the EU in the future. Georgia — in modern geography, Georgia has been classified as part of Eastern Europe. Under the European Union’s geographic criteria, Georgia is viewed as part of Eastern Europe and is the only Caucasus country to be actively seeking EU membership and it is a member of Council of Europe and Eurocontrol
9.
Middle East
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The Middle East is a transcontinental region centered on Western Asia and Egypt. The corresponding adjective is Middle-Eastern and the noun is Middle-Easterner. The term has come into usage as a replacement of the term Near East beginning in the early 20th century. Arabs, Turks, Persians, Kurds, and Azeris constitute the largest ethnic groups in the region by population. Indigenous minorities of the Middle East include Jews, Assyrians and other Arameans, Baloch, Berbers, Copts, Druze, Lurs, Mandaeans, Samaritans, Shabaks, Tats, in the Middle East, there is also a Romani community. European ethnic groups form a diaspora in the region include Albanians, Bosniaks, Circassians, Crimean Tatars, Franco-Levantines. Among other migrant populations are Bengalis as well as other Indians, Chinese, Filipinos, Indonesians, Pakistanis, the history of the Middle East dates back to ancient times, with the importance of the region being recognized for millennia. Most of the countries border the Persian Gulf have vast reserves of crude oil. The term Middle East may have originated in the 1850s in the British India Office, however, it became more widely known when American naval strategist Alfred Thayer Mahan used the term in 1902 to designate the area between Arabia and India. During this time the British and Russian Empires were vying for influence in Central Asia, Mahan realized not only the strategic importance of the region, but also of its center, the Persian Gulf. Mahan first used the term in his article The Persian Gulf and International Relations, published in September 1902 in the National Review, a British journal. The Middle East, if I may adopt a term which I have not seen, will some day need its Malta, as well as its Gibraltar, it does not follow that either will be in the Persian Gulf. The British Navy should have the facility to concentrate in force if occasion arise, about Aden, India, mahans article was reprinted in The Times and followed in October by a 20-article series entitled The Middle Eastern Question, written by Sir Ignatius Valentine Chirol. During this series, Sir Ignatius expanded the definition of Middle East to include regions of Asia which extend to the borders of India or command the approaches to India. After the series ended in 1903, The Times removed quotation marks from subsequent uses of the term, in the late 1930s, the British established the Middle East Command, which was based in Cairo, for its military forces in the region. After that time, the term Middle East gained broader usage in Europe, the description Middle has also led to some confusion over changing definitions. Before the First World War, Near East was used in English to refer to the Balkans and the Ottoman Empire, while Middle East referred to Iran, the Caucasus, Afghanistan, Central Asia, and Turkestan. The first official use of the term Middle East by the United States government was in the 1957 Eisenhower Doctrine, the Associated Press Stylebook says that Near East formerly referred to the farther west countries while Middle East referred to the eastern ones, but that now they are synonymous
10.
North Africa
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North Africa or Northern Africa is the northernmost region of Africa. The United Nationss definition of Northern Africa is, Algeria, Egypt, Libya, Morocco, Sudan, Tunisia, the countries of Algeria, Morocco, Tunisia, and Libya are often collectively referred to as the Maghreb, which is the Arabic word for sunset. Egypt lies to the northeast and encompasses part of West Asia, while Sudan is situated on the edge of the Sahel, Egypt is a transcontinental country because of the Sinai Peninsula, which geographically lies in Western Asia. North Africa also includes a number of Spanish possessions, the Canary Islands and Madeira in the North Atlantic Ocean northwest of the African mainland are included in considerations of the region. From 3500 BC, following the abrupt desertification of the Sahara due to changes in the Earths orbit. The Islamic influence in the area is significant, and North Africa is a major part of the Muslim world. Some researchers have postulated that North Africa rather than East Africa served as the point for the modern humans who first trekked out of the continent in the Out of Africa migration. The Atlas Mountains extend across much of Morocco, northern Algeria and Tunisia, are part of the mountain system that also runs through much of Southern Europe. They recede to the south and east, becoming a steppe landscape before meeting the Sahara desert, the sediments of the Sahara overlie an ancient plateau of crystalline rock, some of which is more than four billion years old. Sheltered valleys in the Atlas Mountains, the Nile Valley and Delta, a wide variety of valuable crops including cereals, rice and cotton, and woods such as cedar and cork, are grown. Typical Mediterranean crops, such as olives, figs, dates and citrus fruits, the Nile Valley is particularly fertile, and most of the population in Egypt and Sudan live close to the river. Elsewhere, irrigation is essential to improve yields on the desert margins. The inhabitants of Saharan Africa are generally divided in a manner corresponding to the principal geographic regions of North Africa, the Maghreb, the Nile valley. The edge of the Sahel, to the south of Egypt has mainly been inhabited by Nubians, Ancient Egyptians record extensive contact in their Western desert with people that appear to have been Berber or proto-Berber, as well as Nubians from the south. They have contributed to the Arabized Berber populations, the official language or one of the official languages in all of the countries in North Africa is Arabic. The people of the Maghreb and the Sahara regions speak Berber languages and several varieties of Arabic, the Arabic and Berber languages are distantly related, both being members of the Afroasiatic language family. The Tuareg Berber languages are more conservative than those of the coastal cities. Over the years, Berbers have been influenced by contact with cultures, Greeks, Phoenicians, Egyptians, Romans, Vandals, Arabs, Europeans
11.
Gian Maria Gros-Pietro
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He graduated in economics and business at the University of Turin in 1964. He taught business economics and industrial economics and politics until 2004, between 1974 and 1995, he directed Ceris, while in 2004 he was appointed chairman of the Economic and Business department at LUISS University in Rome and held that appointment for seven years. From 1997 to 1999 he was chairman of the Institute for Industrial Reconstruction, gros-Pietro was member of CNEL from 1996 to 2002. He is part of the board of directors of ASTM and Edison
12.
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
13.
Intesa Sanpaolo
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Intesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI based in Torre Intesa Sanpaolo, Turin, Italy. It has clear leadership in the Italian market and a minor but growing international presence focused on Central-Eastern Europe, when it was formed in 2007 it overtook Unicredit Group as the largest bank in Italy with 13 million customers and $690 billion worth of assets. By 2010 its assets had grown to $877.66 billion 26th highest among all of the worlds companies, the company is a component of the Euro Stoxx 50 stock market index. As of January 2016, it is the first banking group in Italy by market capitalization, Banca Intesa and Sanpaolo IMI, the two banks that merged in 2007 to create Intesa Sanpaolo, were themselves the product of many mergers. Cariplo and Banco Ambrosiano Veneto merged in 1998 to form Banca Intesa, the following year Banca Commerciale Italiana joined the group. Sanpaolo IMI was born in 1998 following the merger of Istituto Bancario San Paolo di Torino, which specialized in banking, and IMI. The oldest part of the group is Cariplo SpA which traces its roots to Austrian household savings bank Cassa di Risparmio delle Provincie Lombarde which was established in 1823. Cassa di Risparmio was started by an Italian philanthropic group, the Central Committee of Charity, in the early 20th century the bank helped Italian companies in the North obtain capital during and after World War 1 and 2, chiefly under the guide of Giordano DellAmore. Banking reforms in 1990 started by Giuliano Amato led to the restructuring/reorganization of banks by forcing the government to control of them. Cariplo SpA was formed in 1991 when Cassa di Risparmio delle Provincie Lombarde merged with its subsidiary IBI, Banco Ambrosiano Veneto originated with Nuovo Banco Ambrosiano and Banca Cattolica del Veneto which merged in 1989. The bank increased in size during the 1990s due to numerous acquisitions, Banca Commerciale Italiana started in 1894 as a corporate loans lender operating in the commercial industry of Northern Italy. In 1994 Mediobanca purchased an interest in BCI, BCI tried to acquire Banco Ambrosiano Veneto the same year but was spurned by shareholders who wouldnt accept the US$1.13 billion offer. Sanpaolo IMI was formed in 1998 when Istituto Bancario San Paolo di Torino and Istituto Mobiliare Italiano merged, in January 2007 Banca Intesa and Sanapaolo IMI, two of the three largest bank of Italy, officially merged. French banking group Crédit Agricole started to spin off from Intesa Sanpaolo, by acquiring Cariparma, FriulAdria in 2007 and Carispezia in 2011, in 2012 Crédit Agricole sold all the shares of Intesa Sanpaolo. In December 2007 Cassa di Risparmio di Biella e Vercelli was also sold to Banca Monte dei Paschi di Siena for €399 million, in 2008 Intesa Sanpaolo acquired Banca CR Firenze. In December 2008 Cassa di Risparmio di Fano was sold to Credito Valtellinese, alitalia – Compagnia Aerea Italiana sold part of its stake in the airline to Etihad Airways in 2015. The shareholders of the banks was bail-in in the plan in 2015. In 2014 Cassa di Risparmio di Venezia and Banca di Credito Sardo were absorbed into Intesa Sanpaolo, the 2014–17 business plan of the bank stated that the banking group would simplified their legal structure
14.
Investment banking
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Unlike commercial banks and retail banks, investment banks do not take deposits. From the passage of Glass–Steagall Act in 1933 until its repeal in 1999 by the Gramm–Leach–Bliley Act, Other industrialized countries, including G7 countries, have historically not maintained such a separation. As part of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010, the two main lines of business in investment banking are called the sell side and the buy side. The sell side involves trading securities for cash or for other securities, the buy side involves the provision of advice to institutions that buy investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, an investment bank can also be split into private and public functions with a Chinese wall separating the two to prevent information from crossing. The private areas of the deal with private insider information that may not be publicly disclosed, while the public areas, such as stock analysis. The first company to publicly traded stock was the Dutch East India Company. Investment banking has changed over the years, beginning as a form focused on underwriting security issuance. In the United States, commercial banking and investment banking were separated by the Glass–Steagall Act, the repeal led to more universal banks offering an even greater range of services. Many large commercial banks have therefore developed investment banking divisions through acquisitions, notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Credit Suisse, Deutsche Bank, UBS, Barclays, and Wells Fargo. The traditional service of underwriting security issues has declined as a percentage of revenue, as far back as 1960, 70% of Merrill Lynchs revenue was derived from transaction commissions while traditional investment banking services accounted for 5%. However, Merrill Lynch was a relatively retail-focused firm with a large brokerage network, investment banking is split into front office, middle office, and back office activities. Investment banks offer services to corporations issuing securities and investors buying securities. For corporations, investment bankers offer information on when and how to place their securities on the open market, therefore, investment bankers play a very important role in issuing new security offerings. Front office is described as a revenue generating role. Markets is divided into sales and trading, and research, a pitch book of financial information is generated to market the bank to a potential M&A client, if the pitch is successful, the bank arranges the deal for the client. The investment banking division is divided into industry coverage and product coverage groups. On behalf of the bank and its clients, an investment banks primary function is buying and selling products
15.
Public finance
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Public finance is the study of the role of the government in the economy. The purview of public finance is considered to be threefold, governmental effects on efficient allocation of resources, distribution of income, the proper role of government provides a starting point for the analysis of public finance. In theory, under circumstances, private markets will allocate goods. If private markets were able to provide efficient outcomes and if the distribution of income were socially acceptable, in many cases, however, conditions for private market efficiency are violated. For example, if people can enjoy the same good at the same time. National defense is one example of consumption, or of a public good. Market failure occurs when private markets do not allocate goods or services efficiently, the existence of market failure provides an efficiency-based rationale for collective or governmental provision of goods and services. Externalities, public goods, informational advantages, strong economies of scale, Public provision via a government or a voluntary association, however, is subject to other inefficiencies, termed government failure. Under broad assumptions, government decisions about the efficient scope and level of activities can be separated from decisions about the design of taxation systems. In practice, government budgeting or public budgeting is substantially more complicated, Government can pay for spending by borrowing, although borrowing is a method of distributing tax burdens through time rather than a replacement for taxes. A deficit is the difference between government spending and revenues, the accumulation of deficits over time is the total public debt. Deficit finance allows governments to smooth tax burdens over time, deficits can also narrow the options of successor governments. Public finance is closely connected to issues of distribution and social equity. Governments can reallocate income through transfer payments or by designing tax systems that treat high-income and low-income households differently, the public choice approach to public finance seeks to explain how self-interested voters, politicians, and bureaucrats actually operate, rather than how they should operate. Collection of sufficient resources from the economy in an appropriate manner along with allocating, resource generation, resource allocation and expenditure management are the essential components of a public financial management system. Public Finance Management basically deals with all aspects of resource mobilization, just as managing finances is a critical function of management in any organization, similarly public finance management is an essential part of the governance process. Public finance management includes resource mobilization, prioritization of programmes, the process, efficient management of resources. Rising aspirations of people are placing more demands on financial resources, at the same time, the emphasis of the citizenry is on value for money, thus making public finance management increasingly vital
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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
17.
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
18.
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
19.
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
20.
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
21.
Market capitalization
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Market capitalization is used by the investment community in ranking the size of companies, as opposed to sales or total asset figures. It is also used in ranking the size of stock exchanges. In performing such rankings, the market capitalizations are calculated at some significant date, the total capitalization of stock markets or economic regions may be compared with other economic indicators. In 2014 and 2015, global market capitalization was US$68 trillion and US$67 trillion, respectively. Market cap is given by the formula M C = N × P, where MC is the capitalization, N is the number of shares outstanding. For example, if company has 4 million shares outstanding. If the closing price per share rises to $21, the cap becomes $84 million. If it drops to $19 per share, the cap falls to $76 million. This is in contrast to mercantile pricing where purchase price, average price, traditionally, companies were divided into large-cap, mid-cap, and small-cap. The terms mega-cap and micro-cap have also come into common use. Different numbers are used by different indexes, there is no definition of, or full consensus agreement about. The cutoffs may be defined as rather than in nominal dollars. Market cap reflects only the equity value of a company and it is important to note that a firms choice of capital structure has a significant impact on how the total value of a company is allocated between equity and debt. A more comprehensive measure is enterprise value, which gives effect to outstanding debt, preferred stock, for insurance firms, a value called the embedded value has been used
22.
UniCredit
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UniCredit S. p. A. is an Italian global banking and financial services company. Its network spans 50 markets in 17 countries, with more than 8,500 branches and its strategic position in Western and Eastern Europe gives the group one of the regions highest market shares. The company is a component of the Euro Stoxx 50 stock market index, the company has its registered office in Rome and general management in Milan. UniCredits core markets are Italy, Austria, Russia, Southern Germany, the UniCredit Group has investment banking divisions in New York City, London, Hong Kong, Milan, Munich, Vienna, Budapest and Warsaw. UniCredit Group was the outcome of the 1998 merger of several Italian banks, Credito Italiano issued about 38. 46% new shares to the owners of Unicredito, and renamed itself to Unicredito Italiano. Other banks such as Banca dellUmbria, Cassa di Risparmio di Carpi, Cassa di Risparmio di Trento e Rovereto, a new subsidiary was also created in December 1999 which was named after the original Credito Italiano. In 1999, UniCredito Italiano, as it was then known, UniCredit Private Banking and UniCredit Banca dImpresa was spin off from it in 2003. In 2005, UniCredit merged with the German group HVB, which is formed in 1998 by the combination of two Bavarian banks, Bayerische Vereinsbank and Bayerische Hypotheken-und Wechsel-Bank. Integration with the HVB Group was reinforced by the merger with Bank Austria Creditanstalt in the year 2000, however, this merger was only marginally profitable. Additionally, Bank Austria Creditanstalt was a shareholder in Bank Medici AG. Bank Medici was Thema Funds investment manager, in return for finding investors, Bank Medici collected fees of 4.6 million euros from Thema International Fund in 2007. On 30 June 2005 Banca dellUmbria and Cassa di Risparmio di Carpi were absorbed into the parent company, in 2006 the securities services business of UniCredit was sold to Société Générale for €579.3 million. In 2006, minority interests in Bra, Fossano, Saluzzo, in 2007, in combination with the Capitalia Group, the fourth-largest Italian banking group, UniCredit Group consolidated and strengthened its position, but added considerably to its overhead costs. The registered office of the bank was relocated from Genoa to 17 via Minghetti. In the same year, two acquisitions were carried out, ATF Bank, which ranks fifth out of domestic banks in Kazakhstan with 154 branches, and Ukrsotsbank. With these two banks the Group extended its operations in area to 19 countries. However, in November 2012, Kazakh government sources declared UniCredit is in talks with Kazakh investors over the sale of a stake in ATF Bank. In 2010, UniCredit S. p. A. absorbed its Italian banking subsidiaries, UniCredit Banca, Banca di Roma, in 2013 UniCredit Finance informed that they would no longer provide banking services in Latvia
23.
United States dollar
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The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean, the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and these coins are both designated in Section 5112 as legal tender in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, the pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the Statements are currently being expressed in U. S. dollars, the U. S. dollar may therefore be described as the unit of account of the United States. The word dollar is one of the words in the first paragraph of Section 9 of Article I of the Constitution, there, dollars is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act, Section 20 of the act provided, That the money of account of the United States shall be expressed in dollars, or units. And that all accounts in the offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. In other words, this act designated the United States dollar as the unit of currency of the United States, unlike the Spanish milled dollar the U. S. dollar is based upon a decimal system of values. Both one-dollar coins and notes are produced today, although the form is significantly more common
24.
Stock market index
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A stock index or stock market index is a measurement of the value of a section of the stock market. It is computed from the prices of selected stocks and it is a tool used by investors and financial managers to describe the market, and to compare the return on specific investments. An index is a construct, so it may not be invested in directly. But many mutual funds and exchange-traded funds attempt to track an index, Stock market indices may be classified in many ways. A world or global stock market index — such as the MSCI World or the S&P Global 100 — includes stocks from multiple regions, regions may be defined geographically or by levels of industrialization or income. A national index represents the performance of the market of a given nation—and by proxy. Other indices may be regional, such as the FTSE Developed Europe Index or the FTSE Developed Asia Pacific Index, indexes may be based on exchange, such as the NASDAQ-100 or NYSE US100, or groups of exchanges, such as the Euronext 100 or OMX Nordic 40. The concept may be extended well beyond an exchange, russell Investment Group added to the family of indices by launching the Russel Global Index. More specialized indices exist tracking the performance of specific sectors of the market, some indices, such as the S&P500, have multiple versions. These versions can differ based on how the components are weighted. The difference between the full capitalization, float-adjusted, and equal weight versions is in how index components are weighted, an index may also be classified according to the method used to determine its price. In contrast, an index such as the Hang Seng Index factors in the size of the company. Thus, a small shift in the price of a large company will heavily influence the value of the index. Traditionally, capitalization- or share-weighted indices all had a full weighting, recently, many of them have changed to a float-adjusted weighting which helps indexing. An equal-weighted index is one in all components are assigned the same value. For example, the Barrons 400 Index assigns a value of 0. 25% to each of the 400 stocks included in the index. A modified capitalization-weighted index is a hybrid between capitalization weighting and equal weighting, moreover, in 2005, Standard & Poors introduced the S&P Pure Growth Style Index and S&P Pure Value Style Index which was attribute-weighted. For these two indexes, a score is calculated for every stock, be it their growth score or the value score, one argument for capitalization weighting is that investors must, in aggregate, hold a capitalization-weighted portfolio anyway
25.
Philanthropy
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Philanthropy means etymologically, the love of humanity, in the sense of caring, nourishing, developing, and enhancing what it means to be human. In this meaning, it both the benefactor in their identifying and exercising their values, and the beneficiary in their receipt. A person who practices philanthropy is called a philanthropist, Philanthropy has distinguishing features from charity, not all charity is philanthropy, or vice versa, though there is a recognized degree of overlap in practice. The literal, classical definitions and understandings of the term philanthropy derive from its origins in the Greek φιλανθρωπία, the most conventional modern definition is private initiatives, for public good, focusing on quality of life. This combines the social scientific aspect developed in the century with the humanistic tradition. These distinctions have been analyzed by Olivier Zunz, and others, instances of philanthropy commonly overlap with instances of charity, though not all charity is philanthropy, or vice versa. The difference commonly cited is that charity relieves the pains of social problems, the first use of the noun form philanthrôpía came shortly thereafter, in the early Platonic dialogue Euthyphro. Socrates is reported to have said that his out of his thoughts freely to his listeners was his philanthrôpía. In the second century CE, Plutarch used the concept of philanthrôpía to describe superior human beings and this Classically synonymous troika, of philanthropy, the humanities, and liberal education, declined with the replacement of the classical world by Christianity. During the Middle Ages, philanthrôpía was superseded by Caritas charity, selfless love, Philanthropy was modernized by Sir Francis Bacon in the 1600s, who is largely credited with preventing the word from being owned by horticulture. Bacon considered philanthrôpía to be synonymous with goodness, which correlated with the Aristotelian conception of virtue, then in the 1700s, an influential lexical figurehead by the name of Samuel Johnson simply defined philanthropy as love of mankind, good nature. This definition still survives today and is cited more gender-neutrally as the love of humanity. However, it was Noah Webster who would more accurately reflect the usage in American English. The precise meaning of philanthropy is still a matter of some contention, nevertheless, there are some working definitions to which the community associated with the field of philanthropic studies most commonly subscribes. The Greeks adopted the love of humanity as an ideal, whose goal was excellence —the fullest self-development, of a body, mind, and spirit. The Platonic Academys philosophical dictionary defined Philanthropy as a state of well-educated habits stemming from love of humanity, just as Prometheus human-empowering gifts rebelled against the tyranny of Zeus, philanthropic was also associated with freedom and democracy. Both Socrates and the laws of Athens were described as philanthropic and democratic, gradually there emerged a non-religious agricultural infrastructure based on peasant farming organized into manors, which were, in turn, organized for law and order by feudalism. Francis Bacon in 1592 wrote in a letter that his vast contemplative ends expressed his philanthropic, Henry Cockeram, in his English dictionary, cited philanthropy as a synonym for humanity—thus reaffirming the Classical formulation
26.
Giuliano Amato
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Giuliano Amato OMRI is an Italian politician who twice served as Prime Minister of Italy, first from 1992 to 1993 and again from 2000 to 2001. Later, he was Vice President of the Convention on the Future of Europe that drafted the European Constitution and he is commonly nicknamed dottor Sottile. From 2006 to 2008, he was the Minister of the Interior in Romano Prodis government, on 12 September 2013, President Giorgio Napolitano appointed him to the Constitutional Court of Italy, where he has served since then. Born in Turin into a Sicilian family, Amato grew up in Tuscany, after teaching at the Universities of Modena, Perugia and Florence, he worked as professor of Italian and Comparative Constitutional Law at the University of Rome La Sapienza from 1975 to 1997. Amato began his career in 1958, when he joined the Italian Socialist Party. He was a Member of Parliament from 1983 to 1993 and he was Undersecretary of State to the Prime Ministers office from 1983 to 1987, Deputy Prime Minister from 1987 to 1988, and Minister for the Treasury from 1987 to 1989. From June 1992 to April 1993, Amato served as Prime Minister, during those ten months, a series of corruption scandals rocked Italy and swept away almost an entire class of political leaders. Amato himself was never implicated, notwithstanding how close he was to Bettino Craxi, fearing that the new system would have effectively blocked investigations on political corruption, Italians took to the streets in massive, spontaneous rallies. President Oscar Luigi Scalfaro refused to sign the decree, deeming it blatantly unconstitutional, while his justice minister Giovanni Conso took the blame, it has been disputed whether Amato was a victim of circumstances or whether he really wanted to save the corruption-ridden system. However, this promise was short-lived, Amato has regularly come under criticism for having such a solemn commitment. Amato was nearly nominated for the Presidency of the Republic and was a contender to replace Michel Camdessus as head of the International Monetary Fund. Amato served as Prime Minister again from April 2000 to May 2001 and he promoted economic competitiveness as well as social protection. In addition to reforms, he pushed ahead with political and institutional reforms, trying to deal with a weak executive. He was elected a Foreign Honorary Member of the American Academy of Arts, Amato was a Member of the Senate representing the constituency of Grosseto in Tuscany from 2001 to 2006. In 2006, he was elected to the Chamber of Deputies for the Olive Tree list, since 2010, he also leads advanced seminar classes at the Master in International Public Affairs of the LUISS School of Government. Amato is married to Ms Diana Amato, a professor of Family Law at the University of Rome and they have two children, Elisa and Lorenzo, and five grandchildren, Giulia, Marco, Simone, Elena and Irene. Giuliano Amato serves as an Honorary Co-Chair for the World Justice Project, the World Justice Project works to lead a global, multidisciplinary effort to strengthen the Rule of Law for the development of communities of opportunity and equity. In 2012 Giuliano Amato was appointed as President of the SantAnna School of Advanced Studies, as alumnus of SantAnna School of Advanced Studies, he guarded close contact with the university, previously heading SantAnna Alumni Association
27.
Business
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A business is an organizational entity involved in the provision of goods and services to consumers. Businesses may also be social non-profit enterprises or state-owned public enterprises operated by governments with specific social, a business owned by multiple private individuals may form as an incorporated company or jointly organise as a partnership. Countries have different laws that may ascribe different rights to the business entities. The word business can refer to an organization or to an entire market sector or to the sum of all economic activity. Compound forms such as agribusiness represent subsets of the broader meaning. Businesses aim to maximize sales to have their income exceed their expenditures, resulting in a profit, the owner operates the business alone and may hire employees. A sole proprietor has unlimited liability for all obligations incurred by the business, partnership, A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business, the three most prevalent types of for-profit partnerships are, general partnerships, limited partnerships, and limited liability partnerships. Corporation, The owners of a corporation have limited liability and the business has a legal personality from its owners. Corporations can be either government-owned or privately owned and they can organize either for profit or as nonprofit organizations. A privately owned, for-profit corporation is owned by its shareholders, a privately owned, for-profit corporation can be either privately held by a small group of individuals, or publicly held, with publicly traded shares listed on a stock exchange. Cooperative, Often referred to as a co-op, a cooperative is a limited-liability business that can organize as for-profit or not-for-profit, a cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives, cooperatives are fundamental to the ideology of economic democracy. In contrast, unincorporated businesses or persons working on their own are not as protected. Franchises, A franchise is a system in which entrepreneurs purchase the rights to open, franchising in the United States is widespread and is a major economic powerhouse. One out of retail businesses in the United States are franchised and 8 million people are employed in a franchised business. Real estate businesses sell, invest, construct and develop properties – including land, residential homes, retailers, wholesalers, and distributors act as middlemen and get goods produced by manufacturers to the intended consumers, they make their profits by marking up their prices. Most stores and catalog companies are distributors or retailers, transportation businesses such as railways, airlines, shipping companies that deliver goods and individuals to their destinations for a fee
€7.354 billion (2017)
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Insurance companies of Italy