1.
Santa Fe Province
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The Province of Santa Fe is a province of Argentina, located in the center-east of the country. Neighboring provinces are from the north clockwise Chaco, Corrientes, Entre Ríos, Buenos Aires, Córdoba, together with Córdoba and Entre Ríos, the province is part of the economico-political association known as the Center Region. Santa Fes most important cities are Rosario, the capital Santa Fe, Rafaela, Villa Gobernador Gálvez, Venado Tuerto, Reconquista, and Santo Tomé. The adult literacy rate in the province is 96. 3% The aboriginal tribes who inhabited this region were the Tobas, Timbúes, Mocovíes, Pilagás, Guaycurúes and they were nomadic, lived from hunting, fishing and fruit recollection. In 1573 Juan de Garay founded the city of Santa Fe in the surroundings of present town Cayastá, but the city was moved in 1651 and 1660 to its present location. In 1812 the lawyer and general Manuel Belgrano created and displayed for the first time the Argentine flag on the banks of the Paraná River and this period was short lived, since that same year Candioti died and central government reestablished the dependent government. However, in 1816, the caudillos Mariano Vera and Estanislao López deposed the governor delegate and proclaimed the sovereignty of the province, during the civil strifes of 1820, Santa Fe troops were decisive in the defeat of Buenos Aires centralist army. So, in time, López gradually became the Federations Patriarch, after Lópezs death it was his secretary and right hand, José María Cullen the one elected governor. These two parties had many strong electoral contests with the conservative parties. After the Electoral Reform of Roque Sáenz Peña in 1912, the UCR reached the government, during this time, more precisely in 1919, the National University of the Littoral was founded. In 1932 it was the PDP who got the governors seat, the contentious 1958 elections brought an ally of President-elect Arturo Frondizi to power in Santa Fe, Dr. Carlos Sylvestre Begnis. The tunnel, most of which runs under the massive Paraná River, is the longest in Argentina, forced to resign after conservative pressure drove Pres. Frondizi from office in 1962, Begnis had the satisfaction of seeing Hernandarias open in 1969, Santa Fe suffered the violence of the late 70s and the depression of the 1980s more than most other provinces. It continued to languish economically during the prosperous 1990s, as the revalued Argentine peso put pressure on its productive sectors, touching bottom around 2002, its economy has grown by 7% a year since then. Most of the consists of green flatlands, part of the humid Pampas. There are low sierras to the west, the south presents lower temperatures, averaging 14 °C, and slightly less precipitations. Thunderstorms are common, and so are heat waves what can bring temperatures up to 40 °C and these are often interrupted by cold fronts that bring crisp, cool weather from the south. March brings cooler nights in the south, and April brings comfortable weather, with highs ranging from 22 °C in the south to 26 °C in the north, winter is dryer in the west of the province and wetter in the east
2.
Argentina
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Argentina, officially the Argentine Republic, is a federal republic in the southern half of South America. With a mainland area of 2,780,400 km2, Argentina is the eighth-largest country in the world, the second largest in Latin America, and the largest Spanish-speaking one. The country is subdivided into provinces and one autonomous city, Buenos Aires. The provinces and the capital have their own constitutions, but exist under a federal system, Argentina claims sovereignty over part of Antarctica, the Falkland Islands, and South Georgia and the South Sandwich Islands. The earliest recorded presence in the area of modern-day Argentina dates back to the Paleolithic period. The country has its roots in Spanish colonization of the region during the 16th century, Argentina rose as the successor state of the Viceroyalty of the Río de la Plata, a Spanish overseas viceroyalty founded in 1776. The country thereafter enjoyed relative peace and stability, with waves of European immigration radically reshaping its cultural. The almost-unparalleled increase in prosperity led to Argentina becoming the seventh wealthiest developed nation in the world by the early 20th century, Argentina retains its historic status as a middle power in international affairs, and is a prominent regional power in the Southern Cone and Latin America. Argentina has the second largest economy in South America, the third-largest in Latin America and is a member of the G-15 and it is the country with the second highest Human Development Index in Latin America with a rating of very high. Because of its stability, market size and growing high-tech sector, the description of the country by the word Argentina has to be found on a Venice map in 1536. In English the name Argentina probably comes from the Spanish language, however the naming itself is not Spanish, Argentina means in Italian of silver, silver coloured, probably borrowed from the Old French adjective argentine of silver > silver coloured already mentioned in the 12th century. The French word argentine is the form of argentin and derives of argent silver with the suffix -in. The Italian naming Argentina for the country implies Argentina Terra land of silver or Argentina costa coast of silver, in Italian, the adjective or the proper noun is often used in an autonomous way as a substantive and replaces it and it is said lArgentina. The name Argentina was probably first given by the Venitian and Genoese navigators, in Spanish and Portuguese, the words for silver are respectively plata and prata and of silver is said plateado and prateado. Argentina was first associated with the silver mountains legend, widespread among the first European explorers of the La Plata Basin. The first written use of the name in Spanish can be traced to La Argentina, a 1602 poem by Martín del Barco Centenera describing the region, the 1826 constitution included the first use of the name Argentine Republic in legal documents. The name Argentine Confederation was also used and was formalized in the Argentine Constitution of 1853. In 1860 a presidential decree settled the name as Argentine Republic
3.
Servando Bayo
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Servando Bayo was an Argentine politician who served as the National Autonomist Party governor of the province of Santa Fe from April 7,1874, to April 7,1878. A native of Rosario, Bayo attended a training institution. As a politician, he was Rosarios Political Chief, a senator, Bayo is regarded as a dynamic ruler who supported progressive measures. The Bank of London retaliated against the newly created Provincial Bank by inducing bank runs in order to weaken it, in response, governor Bayo ordered the liquidation of the Rosario branch of the Bank of London as harmful to the interests of the province, and arrested its manager. The conflict was solved in September 1876, after six months, in the ultimate outcome, the Bank of London accepted the conditions imposed by Santa Fes government. Bayo served in the Argentine Senate from 1881 until his death in 1884, a biography of Servando Bayo, Santa Fe. Servando Bayo, was published in 2006 by Jorge Campana
4.
Immigration to Argentina
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Upon arrival of the Spaniards, the inhabitants of Argentine territory were approximately 300,000 people belonging to many civilizations, cultures and tribes. After the Spanish conquest, an abundant amount of immigrants from all over the world arrived in the country, the history of immigration to Argentina can be divided into several major stages, Spanish colonization starting in the 16th century with the conquest of South America and following colonisation. European immigration in the 19th century focused on colonization and sponsored by the government and this immigration wave made Argentina the country with the second-largest number of immigrants, with 6.6 million, second only to the United States with 27 million. Mostly urban immigration during the era of growth in the late 19th century. The one which came from the west, from Chile, across the Andes, from the cities of Santiago, the one which came from the east, that used the Río de la Plata and its tributaries, especially the Paraná River to settle on the banks thereof. Also, this migration flow settled in Asunción, Paraguay where they colonised much of the region, the Spanish conquistadores and settlers were mainly from Biscay, as well from Galicia and Portugal, founding cities and establishing estancias for supplies of agricultural and livestock products. The scale of operations was reduced, mainly focused on the domestic market, since its unification as a country, Argentine rulers intended the country to welcome immigration. The Preamble of the Constitution dictates a number of goals that apply to all men in the world who wish to dwell on Argentine soil. The Constitution incorporates, along with influences, the thought of Juan Bautista Alberdi. The legal and organizational precedents of todays National Migrations Office can be found in 1825, after the Commission was dissolved, the government of Rosas continued to allow immigration. Urquiza, under whose sponsorship the Constitution was drawn, encouraged the establishment of colonies in the Littoral. The first law dealing with immigration policies was Law 817 of Immigration and Colonization, the General Immigration Office was created in 1898, together with the Hotel de Inmigrantes, in Buenos Aires. However, immigrants did not bring only their knowledge and skills and these laws were a reaction by the ruling elite against imported ideas such as labor unionism, anarchism and other forms of popular organization. The modern National Migrations Office was created by decree on February 4,1949, under the Technical Secretariat of the Presidency, in order to deal with the new post-war immigration scenario. New regulations were added to the Office by Law 22439 of 1981 and a decree of 1994, but the current regulations are the Law 25871 of 2004, the majority of immigrants, since the 19th century, have come from Europe, mostly from Italy and Spain. Also notable were Jewish immigrants escaping persecution, giving Argentina the highest Jewish population in Latin America, and the 7th in all the world. The total population of Argentina rose from 4 million in 1895 to 7.9 million in 1914, Argentine immigration records also mention immigrants from Australia, South Africa and the United States. These trends made Argentina the country with the second-largest number of immigrants, with 6.6 million, most immigrants arrived through the port of Buenos Aires and stayed in the capital or within Buenos Aires Province, as it still happens today
5.
Carlos Casado del Alisal
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Carlos Casado del Alisal was a Spanish Argentine businessman. Carlos Casado del Alisal was born in Villada, Palencia Province and he arrived in Santa Fe Province, Argentina in 1857, and in 1864, was named to the Board of Directors of the newly established Central Argentine Railway by its chief stockholder, William Wheelwright. He founded the Provincial Bank of Santa Fe in 1874, and purchased the highly indebted Colonia Caridad in 1878, redeveloping it as San Genaro. Casado arranged the first shipment of Argentine wheat to Europe in 1878, the 4,500 tons of wheat had been grown in Candelaria, and were shipped on April 12,1878. President of the Bank of Santa Fe, he sat on the boards of the Bank of the Province of Buenos Aires. Casado founded the Santa Fe Western Railway in 1883, and the line would, by 1890, connect much of the agriculturally-rich province to the Port of Rosario. Following the Paraguayan War, in which Argentina annexed what became Formosa Province from Paraguay and he died in Buenos Aires in 1899, at age 66. Carlos Casado del Alisal was honored with a monument sculpted by Eduardo Barnes and his brother was the well-known Spanish painter José Casado del Alisal
6.
Rosario, Santa Fe
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Rosario is the largest city in the province of Santa Fe, in central Argentina. It is located 300 km northwest of Buenos Aires, on the shore of the Paraná River. Rosario is the third most populous city in the country, and is also the most populous city in Argentina that is not a provincial capital, with a growing and important metropolitan area, Greater Rosario has an estimated population of 1,276,000 as of 2012. One of its main attractions includes the architecture that has been retained over the centuries in hundreds of residences, houses. Rosario is the city of the Rosario Department and is located at the heart of the major industrial corridor in Argentina. The city is a railroad terminal and the shipping center for north-eastern Argentina. Ships reach the city via the Paraná River, which allows the existence of a 10-metre-deep port, the Port of Rosario is subject to silting and must be dredged periodically. Exports include wheat, flour, hay, linseed and other oils, corn, sugar, lumber, meat, hides. Manufactured goods include flour, sugar, meat products, and other foodstuffs, the Rosario-Victoria Bridge, opened in 2004, spans the Paraná River, connecting Rosario with the city of Victoria, across the Paraná Delta. Because it plays a role in agricultural commerce, the city finds itself at the center of a continuing debate over taxes levied on big-ticket agricultural goods such as soy. Along with Paraná, Rosario is one of the few Argentine cities that cannot point to an individual as its founder. The citys patron is the Virgin of the Rosary, whose feast day is October 7, the asteroid 14812 Rosario was named in its honor. In 1689, captain Luis Romero de Pineda received part of the lands of the Pago de los Arroyos by royal decree, before that, the area was originally inhabited by Calchaquí tribes in reducciones, a kind of missions founded by Franciscans. These missions were attacked and destroyed by hostile tribes of the Chaco region. Romero de Pineda established the first permanent settlement, an estancia — intended as farmland, in 1719 the Jesuits bought another part and established Estancia San Miguel. The area was still so scarcely populated that it had no authority, it was ruled from the provincial capital. In 1724, another settlement was initiated by Santiago de Montenegro, who set up a mill, drew plans for the future town, built a chapel. The area of control of local government extended northward from todays Rosario
7.
Port of Rosario
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The port is the largest of a series located in the several cities of the Greater Rosario that lie on the Paraná, the last able of overseas traffic being Puerto General San Martín. It directly services the area of Santa Fe that produces a part of Argentine exports. In 2003 the traffic in the port amounted to 2.9 million tonnes, at this point of the course of the Paraná lies the depth transition between overseas and river navigation. The main channel of the river directly in front of the port has a configuration that allows to preserve a depth of 34 feet with minor periodic dredging. This allows for navigation of vessels up to Panamax kind. The Paraná is about 600 m wide at Kilometer 418 and becomes 2,000 m wide downstream, communication with the north-eastern part of the country was enhanced by the 2003 opening of the Rosario-Victoria Bridge, that joins the city with the province of Entre Ríos. The Rosario International Airport has also refurbished to work with cargo traffic. The facilities were opened in 1852 partly as a hedge against the political, the rapid development of Argentine agriculture after 1875 led to the port growth into a significant role in the nations burgeoning grain exports sector, in subsequent decades. The Port of Rosario was nationalized in 1942 and by 1960, the Port of Rosario has, since 1994, been managed by ENAPRO, a public company overseen by the provincial government, which grants concessions as appropriate to private companies. The first bid was won in 1998 by International Container Terminal Services, managers of the Port of Manila, iCTSIs Argentine subsidiary, Puerto Rosario S. A. faced labour conflicts and strikes after firing a number of port terminal workers it had promised to keep. It also failed to pay the due to the ENAPRO. In 2000 the concession was revoked, in 2002 a new company, Terminal Puerto Rosario S. A. was awarded the concession of Terminals 1 and 2 of the port for 30 years. The 34-feet stage was completed in August 2006
8.
Santa Fe, Argentina
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Santa Fe de la Vera Cruz is the capital city of the province of Santa Fe, Argentina. It is situated in north-eastern Argentina, near the junction of the Paraná and it lies 15 kilometers from the Hernandarias Subfluvial Tunnel that connects it to the city of Paraná. The city is connected by canal with the port of Colastiné on the Paraná River. Santa Fe has about 500.000 inhabitants as per the 2010 census, the metropolitan area has a population of 653.073, making it the eighth largest in Argentina. The third largest city in Argentina is Rosario, also located in Santa Fe Province, Rosario has a population of 1.24 million and it is the largest city in Argentina not to be a provincial capital. Santa Fe was founded by Captain Juan de Garay in the site of Cayastá in 1573. The site is today a park containing the grave of Hernandarias. The settlement was moved to the present site in 1653 due to the constant flooding of the Cayastá River, Santa Fe is the commercial and transportation center for a rich agricultural area that produces grain, vegetable oils, and meats. The city is the site of the National Technological University – Santa Fe Regional Faculty, Catholic University of Santa Fe, a suspension bridge was completed in 1924, though severe flooding partially destroyed it in 1983. Santa Fes location is not immune to flooding, however. On April 29,2003, the Salado, which empties into the Paraná near Santa Fe, rose almost 2 m in a few hours following heavy rainfall, and caused a catastrophic flood. No fewer than 100,000 people had to be evacuated and that year, the suspension bridge was reopened, and in 2008, the citys historic grain silos were converted into the Los Silos Hotel and Casino, and San Martín Street was converted to pedestrian use. The citys historical role in the Argentine Constitution led national lawmakers to choose it as the site of Constitutional Conventions in 1949,1957, the city has a climate considered as Humid subtropical or Cfa by Köppen classification. Winters are generally mild, though temperatures can fall below 0 °C on cold nights during the winter. Summers are generally hot and humid, during the most extreme heat waves, temperatures have exceeded 45 °C. Temperatures have exceeded 35 °C in every season), rainfall can be expected throughout the year though summer is usually the wettest season. Thunderstorms can be intense with frequent lightning, powerful downdraughts and intense precipitation, the lowest record temperature was −8.2 °C on July 11,1988 while the highest recorded temperature was 45.6 °C on January 25,1986. Santa Fe has a lot of important commercial centres, busy life, interesting options in sports and tourism, numerous artistic and musical events
9.
Joint-stock company
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A joint-stock company is a business entity in which different stocks can be bought and owned by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares and that allows for the unequal ownership of a business with some shareholders owning more of a company than others. Shareholders are able to transfer their shares to others without any effects to the existence of the company. In modern-day corporate law, the existence of a company is often synonymous with incorporation. Therefore, joint-stock companies are known as corporations or limited companies. Some jurisdictions still provide the possibility of registering joint-stock companies without limited liability, in the United Kingdom and other countries that have adopted its model of company law, they are known as unlimited companies. In the United States, they are simply as joint-stock companies. Ownership of stock refers to a number of privileges. The company is managed on behalf of the shareholders by a board of directors, the shareholders also vote to accept or reject an annual report and audited set of accounts. Individual shareholders can sometimes stand for directorships within the company if a vacancy occurs, the shareholders are usually liable for any of the company debts that extend beyond the companys ability to pay. Meanwhile, the limit of their liability extends only to the value of their shareholding. The concept of limited liability largely accounts for the success of this form of business organization, ordinary shares entitle the owner to a share in the companys net profit. It is calculated in the way, the net profit is divided by the total number of owned shares, producing a notional value per share. An individuals share of the profit is thus the dividend multiplied by the number of shares owned, finding the earliest joint-stock company is a matter of definition. The earliest records of joint stock company can be found in China during the Song Dynasty, the Swedish company Stora has documented a stock transfer for an eighth of the company as early as 1288. In more recent history, the earliest joint-stock company recognized in England was the Company of Merchant Adventurers to New Lands, muscovy Company, which had a monopoly on trade between Moscow and London, was chartered soon after in 1555. The Royal Charter effectively gave the newly created Honourable East India Company a 15-year monopoly on all trade in the East Indies. The Company transformed from a trading venture to one that ruled India and exploited its resources, as it acquired auxiliary governmental and military functions
10.
Chase Manhattan Bank
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The bank was known as Chase Manhattan Bank until it merged with J. P. Morgan & Co. in 2000. Chase Manhattan Bank was formed by the merger of the Chase National Bank, the bank has been headquartered in Columbus, Ohio since its merger with Bank One Corporation in 2004. The bank acquired the deposits and most assets of Washington Mutual, Chase offers more than 5,100 branches and 16,100 ATMs nationwide. JPMorgan Chase has 250,355 employees and operates in more than 100 countries, JPMorgan Chase currently has assets of roughly US$2.49 trillion. JPMorgan Chase, through its Chase subsidiary, is one of the Big Four banks of the United States. From September 1,1799, to 1955, it was called The Bank of The Manhattan Company, Chase National Bank was formed in 1877 by John Thompson. It was named after former United States Treasury Secretary and Chief Justice Salmon P. Chase, the Chase National Bank acquired a number of smaller banks in the 1920s, through its Chase Securities Corporation. In 1926, for instance, it acquired Mechanics and Metals National Bank, however, its most significant acquisition was the Equitable Trust Company of New York in 1930, the largest stockholder of which was John D. Rockefeller, Jr. This made Chase the largest bank in America and indeed, in the world, in 1955, Chase National Bank and The Manhattan Company merged to create The Chase Manhattan Bank. The deal was structured as an acquisition by the Bank of the Manhattan Company of Chase National. This avoided the need for consent by shareholders. For Chase Manhattan Banks new logo, Chermayeff & Geismar designed a stylized octagon in 1961, the Chase logo is a stylized representation of the primitive water pipes laid by the Manhattan Company, which were made by nailing together wooden planks. The bank included a management business called the Chase Investors Management Corporation. Under McCloys successor, George Champion, the bank relinquished its antiquated 1799 state charter for a modern one, in 1969, under the leadership of David Rockefeller, the bank became part of a bank holding company, the Chase Manhattan Corporation. In July 1996, Chemical Bank of New York purchased Chase Manhattan Bank, chemicals previous acquisitions included Manufacturers Hanover Corporation, in 1991, and Texas Commerce Bank, in 1987. Although Chemical was the survivor, the merged company retained the Chase name since it was better known. In December 2000, the combined Chase Manhattan completed the acquisition of J. P. Morgan & Co. in one of the largest banking mergers to date, the combined company was renamed JPMorgan Chase. In 2004, the bank acquired Bank One, making Chase the largest credit card issuer in the United States, JPMorgan Chase added Bear Stearns & Co. and Washington Mutual to its acquisitions in 2008 and 2009 respectively
11.
Dresdner Bank
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Dresdner Bank AG was one of Germanys largest banking corporations and was based in Frankfurt. It was acquired by competitor Commerzbank in December 2009, Dresdner Bank was established on 12 November 1872 through the conversion of private bank Michael Kaskel. In the 1870s, Dresdner Bank acquired smaller regional institutes and several banks, the new branch in Berlin quickly exceeded the office in Dresden, therefore, the registered office moved to Berlin in 1884 leaving the place of jurisdiction in Dresden until 1950. After few new acquisitions, opened the first international branch in London in 1895, by 1900, Dresdner bank had the largest German branch network. In all, the Dresdner Bank had 27 branches, all, with the exception of the one in London, in addition it had one silent partner and 57 deposit offices,23 being in Berlin. In 1905 a close alliance was formed with the house of J. P. Morgan & Co. New York, for joint action in international finance and issue operations, operations in the orient and South America were carried on jointly in cooperation with the A. Schaaffhausenscher Bankverein. During the First World War, the London branch was forced to close, however, after the banking crisis in 1931 the German Reich owned 66% and Deutsche Golddiskontbank owned 22% of Dresdner Bank shares. Its deputy director was Dr Schacht, Minister of Economy under Nazism, the Bank was reprivatised in 1937. During World War II, Dresdner Bank controlled various banks in countries under German Occupation and it took over the Bohemian Discount Bank in Prague, the Societa Bancara Romana in Bucharest, the Handels- und Kreditbank in Riga, the Kontinentale Bank in Brussels, and Banque dAthenes. It maintained majority control of the Croatian Landerbank and the Kommerzialbank in Kraków and it took over the French interests in the Hungarian General Bank and the Greek Credit Bank, and it founded the Handelstrust West N. V. in Amsterdam. It also controlled Banque Bulgare de Commerce in Sofia and the Deutsche Orient-Bank in Turkey, as a result of World War II 80% of the Banks buildings were destroyed, costing the Bank 162 offices in 56 locations. Monetary reform and the introduction of the Deutsche Mark in 1948 helped return banking to normality. Dresdner Bank expanded its network with acquisition and opening new offices not only in Europe but also in the United States, Singapore, Canada, Australia, Japan, Hong Kong, and China. Dresdner Bank was the first to open its own office in former eastern Germany in Dresden on 2 January 1990, after the acquisition of Kleinwort Benson in 1995 to form its investment-banking arm Dresdner Kleinwort, Dresdner Bank took over the American investment bank Wasserstein Perella Group Inc. This investment banking unit was then renamed Dresdner Kleinwort Wasserstein, in 2002 Dresdner Bank became a wholly owned subsidiary of the insurance corporation Allianz. In July 2006 Dresdner Kleinwort, dropped Wasserstein from their name and went through a re-organization of corporate bank, capital markets, the arm made up of Capital Markets and Investment Banking. In 2008 it was reported that Allianz was looking to dispose of Dresdner Bank, british banking group Lloyds TSB were amongst those rumoured to be interested
12.
Credit Suisse
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Credit Suisse Group is a Swiss multinational financial services holding company, headquartered in Zürich, that operates the Credit Suisse Bank and other financial services investments. Credit Suisse was founded by Alfred Escher in 1856 under the name Schweizerische Kreditanstalt in order to fund the development of Switzerlands rail system and it issued loans that helped create Switzerlands electrical grid and the European rail system. It also helped develop the countrys currency system and funded entrepreneurship, in the 1900s Credit Suisse began shifting to retail banking in response to the elevation of the middle-class and the growing popularity of savings accounts. Credit Suisse partnered with First Boston in 1978, after a large failed loan put First Boston under financial stress, Credit Suisse bought a controlling share of the bank in 1988. In the 1990s, Credit Suisse acquired the Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. in the year 2000, it added the U. S. investment firm Donaldson, Lufkin & Jenrette. The company restructured itself in 2002,2004 and 2006 and it was one of the least affected banks during the global financial crisis, but afterwards began shrinking its investment business, executing layoffs and cutting costs. During the period between 2008 and 2012, Germany, Brazil, and the United States began a series of investigations into the use of Credit Suisse accounts for tax evasion. In May 2014, the company pleaded guilty to decades of conspiring to help US citizens avoid taxes, in 2014, Credit Suisse had 888.2 USD Bn of assets under management according to the Scorpio Partnership. Credit Suisse Group AG is organized as a company registered in Zürich that operates as a holding company. It owns the Credit Suisse bank and other interests in the services business. Credit Suisse is governed by a board of directors, its shareholders, the Board of Directors organize the Annual General Meeting of Shareholders while investors with large stakes in the company determine the agenda. Shareholders elect auditors for one-year terms, approve the report and other financial statements. The Board sets Credit Suisses business strategies and approves its compensation principles based on guidance from the compensation committee and it also has the authority to create committees that delegate specific management functions. Credit Suisse has two divisions, Private Banking & Wealth Management and Investment Banking, a Shared Services department provides support functions like risk management, legal, IT and marketing to all areas. Operations are divided into four regions, Switzerland, Europe, the Middle East and Africa, the Americas, Credit Suisse Private Banking has wealth management, corporate and institutional businesses. Credit Suisse Investment Banking handles securities, investment research, trading, prime brokerage, Credit Suisse Asset Management sells investment classes, alternative investments, real-estate, equities, fixed income products and other financial products. Escher founded Credit Suisse in 1856 primarily to provide funding to railway projects. Escher aimed to start the company with three million shares and instead sold 218 million shares in three days, in its first year of operation,25 percent of the banks revenues was from the Swiss Northeastern Railway, which was being built by Eschers company, Nordostbahn
13.
Money laundering
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Money laundering is the process of transforming the profits of crime and corruption into ostensibly legitimate assets. Most anti-money laundering laws openly conflate money laundering with terrorism financing when regulating the financial system, some countries define money laundering as obfuscating sources of money, either intentionally or by merely using financial systems or services that do not identify or track sources or destinations. Other countries define money laundering to include money from activity that would have been a crime in that country, the concept of money laundering regulations goes back to ancient times and is intertwined with the development of money and banking. Money laundering is first seen with individuals hiding wealth from the state to avoid taxation or confiscation or a combination of both, in China, merchants around 2000 BCE would hide their wealth from rulers who would simply take it from them and banish them. In addition to hiding it, they would move it and invest it in businesses in remote provinces or even outside China, over the millennia many rulers and states imposed rules that would take wealth from their citizens and this led to the development of offshore banking and tax evasion. One of the methods has been the use of parallel banking or Informal value transfer systems such as hawala that allowed people to move money out of the country avoiding state scrutiny. In the 20th century, the seizing of wealth again became popular when it was seen as a crime prevention tool. The first time was during the period of Prohibition in the United States during the 1930s and this saw a new emphasis by the state and law enforcement agencies to track and confiscate money. Organized crime received a major boost from Prohibition and a source of new funds that were obtained from illegal sales of alcohol. In the 1980s, the war on drugs led governments again to turn to money-laundering rules to try and seize proceeds of crime to catch the organizers. It also had the benefit from a law enforcement point of view of turning rules of evidence upside down, Law enforcers normally have to prove an individual is guilty to get a conviction. But with money laundering laws, money can be confiscated and it is up to the individual to prove that the source of funds is legitimate if they want the funds back and this makes it much easier for law enforcement agencies and provides for much lower burdens of proof. The September 11 attacks in 2001, which led to the Patriot Act in the US and similar legislation worldwide, starting in 2002, governments around the world upgraded money laundering laws and surveillance and monitoring systems of financial transactions. Anti money laundering regulations have become a larger burden for financial institutions. During 2011–2015 a number of major banks faced ever-increasing fines for breaches of money laundering regulations and this included HSBC, which was fined $1.9 billion in December 2012, and BNP Paribas, which was fined $8.9 billion in July 2014 by the US government. For example, in 2006, Australia set up the AUSTRAC system, Money obtained from certain crimes, such as extortion, insider trading, drug trafficking, and illegal gambling is dirty. It needs to be cleaned to appear to have derived from legal activities so that banks. Money can be laundered by many methods, which vary in complexity, some of these steps may be omitted, depending on the circumstances
14.
Buenos Aires
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Buenos Aires is the capital and most populous city of Argentina. The city is located on the shore of the estuary of the Río de la Plata. The city of Buenos Aires is neither part of Buenos Aires Province nor the Provinces capital, rather, in 1880, after decades of political infighting, Buenos Aires was federalized and removed from Buenos Aires Province. The city limits were enlarged to include the towns of Belgrano and Flores, the 1994 constitutional amendment granted the city autonomy, hence its formal name, Ciudad Autónoma de Buenos Aires. Its citizens first elected a chief of government in 1996, previously, Buenos Aires is considered an alpha city by the study GaWC5. Buenos Aires quality of life was ranked 81st in the world and one of the best in Latin America in 2012 and it is the most visited city in South America, and the second-most visited city of Latin America. Buenos Aires is a top tourist destination, and is known for its preserved Spanish/European-style architecture, Buenos Aires held the 1st Pan American Games in 1951 as well as hosting two venues in the 1978 FIFA World Cup. Buenos Aires will host the 2018 Summer Youth Olympics and the 2018 G20 summit, Buenos Aires is a multicultural city, being home to multiple ethnic and religious groups. Several languages are spoken in the city in addition to Spanish, contributing to its culture, the hill was known to them as Buen Ayre, as it was free of the foul smell prevalent in the old city, which is adjacent to swampland. During the siege of Cagliari, the Aragonese built a sanctuary to the Virgin Mary on top of the hill, in 1335, King Alfonso the Gentle donated the church to the Mercedarians, who built an abbey that stands to this day. In the years after that, a story circulated, claiming that a statue of the Virgin Mary was retrieved from the sea after it miraculously helped to calm a storm in the Mediterranean Sea, the statue was placed in the abbey. Spanish sailors, especially Andalusians, venerated this image and frequently invoked the Fair Winds to aid them in their navigation, a sanctuary to the Virgin of Buen Ayre would be later erected in Seville. Pedro de Mendoza called the city Holy Mary of the Fair Winds, mendoza’s settlement soon came under attack by indigenous people, and was abandoned in 1541. For many years, the name was attributed to a Sancho del Campo, a second settlement was established in 1580 by Juan de Garay, who sailed down the Paraná River from Asunción. Garay preserved the name chosen by Mendoza, calling the city Ciudad de la Santísima Trinidad y Puerto de Santa María del Buen Aire. The short form Buenos Aires became the common usage during the 17th century, the usual abbreviation for Buenos Aires in Spanish is Bs. As. It is common as well to refer to it as B. A. or BA /ˌbiːˈeɪ/ bee-AY), while BA is used more by expats residing in the city, the locals more often use the abbreviation Baires, in one word. Seaman Juan Díaz de Solís, navigating in the name of Spain, was the first European to reach the Río de la Plata in 1516 and his expedition was cut short when he was killed during an attack by the native Charrúa tribe in what is now Uruguay
