The Nasdaq Stock Market is an American stock exchange. It is the second-largest stock exchange in the world by market capitalization, behind only the New York Stock Exchange located in the same city; the exchange platform is owned by Nasdaq, Inc. which owns the Nasdaq Nordic and Nasdaq Baltic stock market network and several U. S. stock and options exchanges. "Nasdaq" was an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers, which divested itself of Nasdaq in a series of sales in 2000 and 2001; the Nasdaq Stock Market is owned and operated by Nasdaq, Inc. the stock of, listed on its own securities exchange on July 2, 2002, under the ticker symbol NDAQ. The Nasdaq Stock Market began trading on February 8, 1971, it was the world's first electronic stock market. At first, it was a "quotation system" and did not provide a way to perform electronic trades; the Nasdaq Stock Market helped lower the spread but was unpopular among brokerages which made much of their money on the spread.
The NASDAQ Stock Market assumed the majority of major trades, executed by the over-the-counter system of trading, but there are still many securities traded in this fashion. As late as 1987, the Nasdaq exchange was still referred to as "OTC" in media reports and in the monthly Stock Guides issued by Standard & Poor's Corporation. Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and volume reporting and automated trading systems, it was the first stock market in the United States to trade online, highlighting Nasdaq-traded companies and closing with the declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq Stock Market attracted new growth companies, including Microsoft, Cisco and Dell, it helped modernize the IPO, its main index is the NASDAQ Composite, published since its inception. However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first intercontinental linkage of securities markets. The National Association of Securities Dealers spun off the Nasdaq Stock Market in 2000 to form a publicly traded company. On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3,227 by April 17, in the following 30 months fell 78% from its peak. In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed national securities exchange. In 2010, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries, expanded its global footprint, changed its name to the NASDAQ OMX Group. To qualify for listing on the exchange, a company must be registered with the United States Securities and Exchange Commission, must have at least three market makers and must meet minimum requirements for assets, public shares, shareholders. In February 2000, in the wake of an announced merger of NYSE Euronext with Deutsche Börse, speculation developed that NASDAQ OMX and Intercontinental Exchange could mount a counter-bid of their own for NYSE.
NASDAQ OMX could be looking to acquire the American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext's market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would have to be, if it proceeded, an $11–12 billion counterbid. In 2005, NASDAQ acquirred Instinet for $1.9 billion retaining the INET ECN and subsequently sellin the agency brokerage business to Silver Lake Partners and Instinet management. The European Association of Securities Dealers Automatic Quotation System was founded as a European equivalent to the Nasdaq Stock Market, it became NASDAQ Europe. Operations were shut however, as a result of the burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, is operating under Börse Berlin. On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable Stock Exchanges Initiative on the eve of the United Nations Conference on Sustainable Development.
In November 2016, Nasdaq chief operating officer Adena Friedman was promoted to the role of CEO, becoming the first woman to run a major exchange in the U. S. In 2016, Nasdaq earned $272 million in listings-related revenues. In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price increases when selling market data. Nasdaq quotes are available at three levels: Level 1 shows the highest bid and lowest ask—inside quote. Level 2 shows all public quotes of market makers together with information of market dealers wishing to buy or sell stock and executed orders. Level 3 allows them to enter their quotes and execute orders; the Nasdaq Stock Market sessions eastern time are: 4:00 am to 9:30 am premarket session 9:30 am to 4:00 pm normal trading session 4:00 pm to 8:00 pm postmarket sessionThe Nasdaq Stock Market averages about 253 trading days per year. The Nasdaq Stock Market has three different market tiers: Capital Market is an equity market for companies that have relatively
Israel the State of Israel, is a country in Western Asia, located on the southeastern shore of the Mediterranean Sea and the northern shore of the Red Sea. It has land borders with Lebanon to the north, Syria to the northeast, Jordan on the east, the Palestinian territories of the West Bank and Gaza Strip to the east and west and Egypt to the southwest; the country contains geographically diverse features within its small area. Israel's economic and technological center is Tel Aviv, while its seat of government and proclaimed capital is Jerusalem, although the state's sovereignty over Jerusalem has only partial recognition. Israel has evidence of the earliest migration of hominids out of Africa. Canaanite tribes are archaeologically attested since the Middle Bronze Age, while the Kingdoms of Israel and Judah emerged during the Iron Age; the Neo-Assyrian Empire destroyed Israel around 720 BCE. Judah was conquered by the Babylonian and Hellenistic empires and had existed as Jewish autonomous provinces.
The successful Maccabean Revolt led to an independent Hasmonean kingdom by 110 BCE, which in 63 BCE however became a client state of the Roman Republic that subsequently installed the Herodian dynasty in 37 BCE, in 6 CE created the Roman province of Judea. Judea lasted as a Roman province until the failed Jewish revolts resulted in widespread destruction, expulsion of Jewish population and the renaming of the region from Iudaea to Syria Palaestina. Jewish presence in the region has persisted to a certain extent over the centuries. In the 7th century CE, the Levant was taken from the Byzantine Empire by the Arabs and remained in Muslim control until the First Crusade of 1099, followed by the Ayyubid conquest of 1187; the Mamluk Sultanate of Egypt extended its control over the Levant in the 13th century until its defeat by the Ottoman Empire in 1517. During the 19th century, national awakening among Jews led to the establishment of the Zionist movement in the diaspora followed by waves of immigration to Ottoman Syria and British Mandate Palestine.
In 1947, the United Nations adopted a Partition Plan for Palestine recommending the creation of independent Arab and Jewish states and an internationalized Jerusalem. The plan was accepted by the Jewish Agency, rejected by Arab leaders; the following year, the Jewish Agency declared the independence of the State of Israel, the subsequent 1948 Arab–Israeli War saw Israel's establishment over most of the former Mandate territory, while the West Bank and Gaza were held by neighboring Arab states. Israel has since fought several wars with Arab countries, since the Six-Day War in 1967 held occupied territories including the West Bank, Golan Heights and the Gaza Strip, it extended its laws to the Golan East Jerusalem, but not the West Bank. Israel's occupation of the Palestinian territories is the world's longest military occupation in modern times. Efforts to resolve the Israeli–Palestinian conflict have not resulted in a final peace agreement. However, peace treaties between Israel and both Egypt and Jordan have been signed.
In its Basic Laws, Israel defines itself as a democratic state. The country has a liberal democracy, with a parliamentary system, proportional representation, universal suffrage; the prime minister is head of government and the Knesset is the legislature. Israel is a developed country and an Organisation for Economic Co-operation and Development member, with the 32nd-largest economy in the world by nominal gross domestic product as of 2017; the country benefits from a skilled workforce and is among the most educated countries in the world with one of the highest percentages of its citizens holding a tertiary education degree. Israel has the highest standard of living in the Middle East, has one of the highest life expectancies in the world. Furthermore, Israel ranked 11th in the UN's 2018 World Happiness Report. Upon independence in 1948, the country formally adopted the name "State of Israel" after other proposed historical and religious names including Eretz Israel and Judea, were considered but rejected.
In the early weeks of independence, the government chose the term "Israeli" to denote a citizen of Israel, with the formal announcement made by Minister of Foreign Affairs Moshe Sharett. The names Land of Israel and Children of Israel have been used to refer to the biblical Kingdom of Israel and the entire Jewish people respectively; the name "Israel" in these phrases refers to the patriarch Jacob who, according to the Hebrew Bible, was given the name after he wrestled with the angel of the Lord. Jacob's twelve sons became the ancestors of the Israelites known as the Twelve Tribes of Israel or Children of Israel. Jacob and his sons had lived in Canaan but were forced by famine to go into Egypt for four generations, lasting 430 years, until Moses, a great-great grandson of Jacob, led the Israelites back into Canaan during the "Exodus"; the earliest known archaeological artifact to mention the word "Israel" as a collective is the Merneptah Stele of ancient Egypt. The area is known as the Holy Land, being holy for all Abrahamic religions including Judaism, Christianity and the Bahá'í Faith.
Under British Mandate, the whole region was known as Palestine (Hebre
Corporation tax in the Republic of Ireland
Ireland's Corporate Tax System is a central component of Ireland's economy. In 2016–17, foreign firms paid 80% of Irish corporate tax, employed 25% of the Irish labour force, created 57% of Irish OECD non-farm value-add. U. S.–controlled firms represent all foreign firms in Ireland and in 2017 were 25 of the top 50 Irish firms, 70% of the revenue of the top 50 Irish firms. By 2018, Ireland had received the most U. S. § Corporate tax inversions in history, Apple was over one–fifth of Irish GDP. Academics rank Ireland as the largest tax haven. Ireland's "headline" corporation tax rate is 12.5%, foreign multinationals pay an § Effective tax rate of under 4% on global profits "shifted" to Ireland, via Ireland's global network of bilateral tax treaties. These lower effective tax rates are achieved by a complex set of Irish base erosion and profit shifting tools which handle the largest BEPS flows in the world. Ireland's main § Multinational tax schemes use "intellectual property" accounting to affect the BEPS movement, why all foreign multinationals in Ireland are from the industries with substantial IP, namely technology and life sciences.
Multinationals from jurisdictions with "territorial tax" systems, make little use of tax havens, thus most foreign multinationals in Ireland date from periods when their home tax system was a "worldwide tax" system. S./non–UK multinationals in Ireland's top 50 firms. As with all tax havens, Ireland's GDP is artificially inflated by BEPS accounting flows; this distortion escalated in Q1 2015 when Apple executed the largest BEPS transaction in history, on-shoring $300 billion of non–U. S. IP to Ireland, it forced the Central Bank of Ireland to abandon GDP in 2017, replace with modified gross national income, which removes part, but not all, of the distortions by BEPS tools. Irish GDP was 162% of Irish GNI* in 2017. Ireland's corporation tax regime is integrated with Ireland's IFSC tax schemes, which offer traditional tax haven-type tools to give confidential routes out of the Irish corporate tax system to Ireland's favoured Sink OFC, 50% of all outbound Irish FDI; this functionality has made Ireland one of the largest global Conduit OFCs, the third largest global Shadow Banking OFC.
Irish privacy and data protection laws hide Irish tax tools from public scrutiny. There is evidence. Ireland is labelled a § Corporate tax haven; as § Countermeasures to Ireland, the U. S. Tax Cuts and Jobs Act of 2017 moves the U. S to a "territorial tax" system; the TJCA's GILTI–FDII–BEAT tax regime has seen U. S. IP–heavy multinationals, forecast 2019 effective tax rates that are similar to those of prior U. S. tax inversions to Ireland. Ireland's corporate tax regime is threatened by the EU's desire to introduce EU–wide anti-BEPS tool regimes; as of November 2018, there are two rates of corporation tax in the Republic of Ireland: a 12.5% headline rate for trading income. As of November 2018, the key attributes that tax experts note regarding the Irish corporate tax system are as follows: Low headline rate. At 12.5%, Ireland has one of the lowest headline tax rates in Europe. Transparent. Many of Ireland's corporation tax tools are OECD–whitelisted, Ireland has one of the lowest secrecy scores in the 2018 FSI rankings.
"Worldwide tax". Ireland is one of 6 remaining countries. No "thin capitalisation". Ireland has no thin capitalisation rules, which means that Irish corporates can be financed with 100% debt, 0% equity. Double Irish residency. Before 2015, Irish CT was based where a company was "controlled" versus registered. Single Malt residency. Post closure of the Double Irish to new entrants in 2015, it can be recreated by wordings in selective tax treaties. Extensive treaties; as of March 2018, Ireland has bilateral tax treaties with 73 countries. Holding company regime. Built for tax inversions, it gives Irish–based holding companies tax relief on withholding taxes, foreign dividends and CGT. Intellectual property regime. Built for the BEPS tools of U. S. technology and life sciences firms, recognises a wide range of intellectual assets that can be charged against Irish tax. Knowledge Development Box. Ireland created the first OECD–compliant KDB in 2016 to support its IP–based BEPS tools; the trends in Irish corporation tax receipts to the Irish Exchequer were: Foreign firms pay 80% of Irish CT Revenue.
Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only public stock exchange. The exchange is regulated by the Securities Law, is under the direct supervision of the Israel Securities Authority. TASE plays a major role in the Israeli economy. TASE lists some 544 companies, 56 of which are listed on stock exchanges in other countries. TASE lists some 180 exchange-traded funds, 60 government bonds, 500 corporate bonds, 591 exchange-traded notes and more than 1000 mutual funds; the precursor to the TASE was the Exchange Bureau for Securities, founded in 1935 by the Anglo-Palestine Bank. With the formation of the State of Israel in 1948, a pressing need arose to formalize trade in securities. In September 1953, a number of banks and brokerages joined forces to establish the Tel Aviv Stock Exchange, which began operations in December 1953. Ten years a group of members of the Exchange created the TASE Clearing House; the Clearing House acted as the central security depository in Israel. In 1968, the Knesset passed the Securities Law, which established the Israel Securities Authority, which became the modern regulatory framework for the TASE and its operations.
TASE moved to 54 Ahad Ha’am Street, Tel Aviv in 1983, moved again in 2014 to new premises at 2 Ahuzat Bayit Street, Tel Aviv. The exchange completed its conversion to electronic trading in 1999. In 2006, TASE bought all the shares of TASE Clearing House from TASE members, to make it a owned subsidiary; the trading week is Sunday to Thursday. In 2009, the trading hours were set at 9:30 am–4:30 pm. Since June 2013, trading hours were extended by an hour to bring trading hours closer to those of the European market, becoming 9:30 am–4:30 pm on Sundays and 9:30 am–5:30 pm Monday to Thursday Israel Standard Time, two hours ahead of UTC. Yossi Beinart was appointed TASE CEO in January 2014 and was a Director at the Tel-Aviv Stock Exchange Clearing House Ltd and on the MAOF Clearing House Ltd board. Beinart died in August 2017, was succeeded by Itai Ben-Zeev. Amnon Neubach has been the Chairman of the TASE Board since April 2014. In 1993 TASE had the third largest number of IPOs of all the world stock exchanges.
In 2005, non-Israeli investment in TASE reached an all-time high of NIS 2 billion, while the TA-25 increased 34%. By the end of the year foreign investment banks UBS, Deutsche Bank, HSBC had become members of TASE. In 2007, trading averaged a 55 % increase over the previous year; the number of exchange-traded funds grew to 240. The Tel Bond-20 index was launched that year; the TA-25 rose 175% in the period 2004–07. In May 2008 Northern Trust started the first US exchange-traded fund on the NYSE based on TASE's benchmark, the TA-25 Index; as of May 25, 2010, TASE's largest stocks by market capitalization were Teva Pharmaceutical Industries, Israel Chemicals, Bank Leumi, Bezeq. Daily turnover of shares and convertibles in 2009 was US$432 million, $1,035M of bonds and exchange-traded notes, $163M of T-bills, 252,000 options and futures contracts. Total market capitalization at the end of 2009 was $189bn shares and convertibles, $174bn government and corporate bonds, $23bn T-bills, a total of $386bn.
On April 25, 2010, TASE's benchmark TA-25 index reached a record high of 1,239 points. For the decade ending 12 February 2012, the TA–25 index topped the Bloomberg Riskless Return Ranking list, outperforming 23 other developed-nation benchmark indexes when adjusting for volatility. CEO Ester Levanon resigned on 18 July 2013, effective 31 December 2013. A week on 25 July 2013, Chairman Saul Bronfeld resigned. According to Bloomberg, the executives’ decisions follow a drop in trading volume and the bourse's failed bid to join MSCI Inc.’s Europe Index. Bronfeld, who served as chairman since 2006, cited the “hostile control” by the Israel Securities Authority and the regulator's interference in the executive management of the bourse as the main reasons for his resignation. In February 2007 the TASE signed a formal memorandum of understanding with the London Stock Exchange intended to smooth the trading of securities listed on both exchanges. At the time, 50 Israeli companies were listed on the London Stock Exchange.
A similar memorandum of understanding was signed with The Nasdaq Stock Market in November 2007. NASDAQ at the time had 70 Israeli companies listed on the exchange, with a combined global market capitalization of over US$60 billion. In July 2008, the TASE entered into a memorandum of understanding with NYSE Euronext. At the time seven Israeli companies traded on the NYSE. In November 2008 the TASE and the Shanghai Stock Exchange signed a memorandum of understanding, with delegations to be sent to each other's markets to deepen understanding and promote trade. In February 2010, the TASE and the Toronto Stock Exchange signed a memorandum of understanding, committing to the cultivation of stronger ties between the two exchanges. In 1983, TASE moved to 54 Ahad Ha'am Street, Tel Aviv, where it remained for 31 years, until it moved in 2014 to its current location at 2 Ahuzat Bayit Street, Tel Aviv; the modern building has 14 floors. It is optimized for computer trading, its computer systems are located in an underground bunker in case of emergencies, in which there is space for emergency personnel.
Architectural critic Keshet Rosenblum praised the new building, due to its appropriate design, restraint in its form and public access. The lobby of the building is public and there is cafe and stock exchange museum; the Exchange offers four programs under which compan
United States dollar
The United States dollar is the official currency of the United States and its territories per the United States Constitution since 1792. In practice, the dollar is divided into 100 smaller cent units, but is divided into 1000 mills for accounting; the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. Since the suspension in 1971 of convertibility of paper U. S. currency into any precious metal, the U. S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U. S. dollar is the world's primary reserve currency. Several countries use it as their official currency, 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 still minting their own coins, or accept U. S. dollar coins. As of June 27, 2018, there are $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes.
Article I, Section 8 of the U. S. Constitution provides that the Congress has the power "To coin money". Laws implementing this power are codified at 31 U. S. C. § 5112. Section 5112 prescribes the forms; 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 provides for the minting and issuance of other coins, which have values ranging from one cent to 100 dollars; these other coins are more described in Coins of the United States dollar. The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time"; 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 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 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". 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 public 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. In addition to the dollar the coinage act established monetary units of mill or one-thousandth of a dollar, cent or one-hundredth of a dollar, dime or one-tenth of a dollar, eagle or ten dollars, with prescribed weights and composition of gold, silver, or copper for each, it was proposed in the mid-1800s that one hundred dollars be known as a union, but no union coins were struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar. XX9 per gallon, e.g. $3.599, more written as $3.599⁄10. When issued in circulating form, denominations equal to or less than a dollar are emitted as U. S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. Both one-dollar coins and notes are produced today, although the note form is more common. In the past, "paper money" was issued in denominations less than a dollar and gold coins were issued for circulation up to the value of $20.
The term eagle was used in the Coinage Act of 1792 for the denomination of ten dollars, subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", "Quarter Union", thus implying a denomination of 1 Union = $100. Today, USD notes are made from cotton fiber paper, unlike most common paper, made of wood fiber. U. S. coins are produced by the United States Mint. U. S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by t
The United Kingdom the United Kingdom of Great Britain and Northern Ireland, sometimes referred to as Britain, is a sovereign country located off the north-western coast of the European mainland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, many smaller islands. Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state, the Republic of Ireland. Apart from this land border, the United Kingdom is surrounded by the Atlantic Ocean, with the North Sea to the east, the English Channel to the south and the Celtic Sea to the south-west, giving it the 12th-longest coastline in the world; the Irish Sea lies between Great Ireland. With an area of 242,500 square kilometres, the United Kingdom is the 78th-largest sovereign state in the world, it is the 22nd-most populous country, with an estimated 66.0 million inhabitants in 2017. The UK is constitutional monarchy; the current monarch is Queen Elizabeth II, who has reigned since 1952, making her the longest-serving current head of state.
The United Kingdom's capital and largest city is London, a global city and financial centre with an urban area population of 10.3 million. Other major urban areas in the UK include Greater Manchester, the West Midlands and West Yorkshire conurbations, Greater Glasgow and the Liverpool Built-up Area; the United Kingdom consists of four constituent countries: England, Scotland and Northern Ireland. Their capitals are London, Edinburgh and Belfast, respectively. Apart from England, the countries have their own devolved governments, each with varying powers, but such power is delegated by the Parliament of the United Kingdom, which may enact laws unilaterally altering or abolishing devolution; the nearby Isle of Man, Bailiwick of Guernsey and Bailiwick of Jersey are not part of the UK, being Crown dependencies with the British Government responsible for defence and international representation. The medieval conquest and subsequent annexation of Wales by the Kingdom of England, followed by the union between England and Scotland in 1707 to form the Kingdom of Great Britain, the union in 1801 of Great Britain with the Kingdom of Ireland created the United Kingdom of Great Britain and Ireland.
Five-sixths of Ireland seceded from the UK in 1922, leaving the present formulation of the United Kingdom of Great Britain and Northern Ireland. There are fourteen British Overseas Territories, the remnants of the British Empire which, at its height in the 1920s, encompassed a quarter of the world's land mass and was the largest empire in history. British influence can be observed in the language and political systems of many of its former colonies; the United Kingdom is a developed country and has the world's fifth-largest economy by nominal GDP and ninth-largest economy by purchasing power parity. It has a high-income economy and has a high Human Development Index rating, ranking 14th in the world, it was the world's first industrialised country and the world's foremost power during the 19th and early 20th centuries. The UK remains a great power, with considerable economic, military and political influence internationally, it is sixth in military expenditure in the world. It has been a permanent member of the United Nations Security Council since its first session in 1946.
It has been a leading member state of the European Union and its predecessor, the European Economic Community, since 1973. The United Kingdom is a member of the Commonwealth of Nations, the Council of Europe, the G7, the G20, NATO, the Organisation for Economic Co-operation and Development and the World Trade Organization; the 1707 Acts of Union declared that the kingdoms of England and Scotland were "United into One Kingdom by the Name of Great Britain". The term "United Kingdom" has been used as a description for the former kingdom of Great Britain, although its official name from 1707 to 1800 was "Great Britain"; the Acts of Union 1800 united the kingdom of Great Britain and the kingdom of Ireland in 1801, forming the United Kingdom of Great Britain and Ireland. Following the partition of Ireland and the independence of the Irish Free State in 1922, which left Northern Ireland as the only part of the island of Ireland within the United Kingdom, the name was changed to the "United Kingdom of Great Britain and Northern Ireland".
Although the United Kingdom is a sovereign country, Scotland and Northern Ireland are widely referred to as countries. The UK Prime Minister's website has used the phrase "countries within a country" to describe the United Kingdom; some statistical summaries, such as those for the twelve NUTS 1 regions of the United Kingdom refer to Scotland and Northern Ireland as "regions". Northern Ireland is referred to as a "province". With regard to Northern Ireland, the descriptive name used "can be controversial, with the choice revealing one's political preferences"; the term "Great Britain" conventionally refers to the island of Great Britain, or politically to England and Wales in combination. However, it is sometimes used as a loose synonym for the United Kingdom as a whole; the term "Britain" is used both as a synonym for Great Britain, as a synonym for the United Kingdom. Usage is mixed, with the BBC preferring to use Britain as shorthand only for Great Britain and the UK Government, while accepting that both terms refer to the United K
Infant formula, baby formula or just formula or baby milk, infant milk or first milk, is a manufactured food designed and marketed for feeding to babies and infants under 12 months of age prepared for bottle-feeding or cup-feeding from powder or liquid. The U. S. Federal Food and Cosmetic Act defines infant formula as "a food which purports to be or is represented for special dietary use as a food for infants by reason of its simulation of human milk or its suitability as a complete or partial substitute for human milk". Manufacturers state that the composition of infant formula is designed to be based on a human mother's milk at one to three months postpartum; the most used infant formulas contain purified cow's milk whey and casein as a protein source, a blend of vegetable oils as a fat source, lactose as a carbohydrate source, a vitamin-mineral mix, other ingredients depending on the manufacturer. In addition, there are infant formulas using soybean as a protein source in place of cow's milk and formulas using protein hydrolysed into its component amino acids for infants who are allergic to other proteins.
An upswing in breastfeeding in many countries has been accompanied by a deferment in the average age of introduction of baby foods, resulting in both increased breastfeeding and increased use of infant formula between the ages of 3- and 12-months. A 2001 World Health Organization report found that infant formula prepared in accordance with applicable Codex Alimentarius standards was a safe complementary food and a suitable breast milk substitute. In 2003, the WHO and UNICEF published their Global Strategy for Infant and Young Child Feeding, which restated that "processed-food products for...young children should, when sold or otherwise distributed, meet applicable standards recommended by the Codex Alimentarius Commission", warned that "lack of breastfeeding—and lack of exclusive breastfeeding during the first half-year of life—are important risk factors for infant and childhood morbidity and mortality". In particular, the use of infant formula in less economically developed countries is linked to poorer health outcomes because of the prevalence of unsanitary preparation conditions, including lack of clean water and lack of sanitizing equipment.
A formula-fed child living in unclean conditions is between 6 and 25 times more to die of diarrhea and four times more to die of pneumonia than a breastfed child. Use of powdered infant formula has been associated with serious illness, death, due to infection with Cronobacter sakazakii and other microorganisms that can be introduced to PIF during its production. Although C. sakazakii can cause illness in all age groups, infants are believed to be at greatest risk of infection. Between 1958 and 2006, there have been several dozen reported cases of E. sakazakii infection worldwide. The WHO believes; the use and marketing of infant formula has come under scrutiny. Breastfeeding, including exclusive breastfeeding for the first 6 months of life, is advocated as "ideal" for babies and infants, both by health authorities — and accordingly in ethical advertising of infant formula manufacturers. Despite the recommendation that babies be breastfed for the first 6 months, less than 40% of infants below this age are breastfed worldwide.
The overwhelming majority of American babies are not breastfed for this period – in 2005 under 12% of babies were breastfed for the first 6 months, with over 60% of babies of 2 months of age being fed formula, one in four breastfed infants having infant formula feeding within two days of birth. Some studies have shown that use of formula can vary according to the parents' socio-economic status, ethnicity or other characteristics. For example, according to a research conducted in Vancouver, Canada, 82.9% of mothers breastfeed their babies at birth, but the number differed between Caucasians and non-Caucasians, with the difference attributed to marital status and family income. In the United States, mothers of lower socio-economic status have been found less to breastfeed, although this may be related to adverse effects of government nutrition supplementation programs that provide subsidies for infant formula; the use of hydrolysed cow milk baby formula versus standard milk baby formula does not appear to change the risk of allergies or autoimmune diseases.
In some cases, breastfeeding is medically contraindicated. These include: Mother's health: The mother has active tuberculosis, she is ill or has had certain kinds of breast surgery, which may have removed or disconnected all milk-producing parts of the breast. She is taking any kind of drug that could harm the baby, including both prescription drugs such as cytotoxic chemotherapy for cancer treatments as well as illicit drugs. One of the main global risks posed by breast milk is the transmission of HIV and other infectious diseases. Breastfeeding by an HIV-infected mother poses a 5–20% chance of transmitting HIV to the baby. However, if a mother has HIV, she is more to transmit it to her child during the pregnancy or birth than during breastfeeding. A 2012 study conducted by researchers from the University of North Carolina School of Medicine showed reduced HIV-1 transmission in humanized mice, due to components in the breast milk. Cytomegalovirus infection poses dangerous c