1.
Prudential plc
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Prudential plc is a British multinational life insurance and financial services company headquartered in London, United Kingdom. It was founded in London in May 1848 as The Prudential Mutual Assurance Investment and Loan Association to provide loans to professional and its Prudential UK division has around 7 million customers and is a leading provider of life insurance and pensions in the UK. In December 2013 Prudential acquired the Ghanaian life insurance company, Express Life, Prudential subsequently rebranded the business as Prudential Ghana. In September 2014, it purchased Kenyan life insurer Shield Assurance, Prudential has a primary listing on the London Stock Exchange and is a constituent of the FTSE100 Index. It had a capitalisation of approximately £41,630 million as of 4 February 2015. Prudential has secondary listings on the Hong Kong Stock Exchange, New York Stock Exchange, the company was founded on 30 May 1848 in Hatton Garden in London as The Prudential Mutual Assurance Investment and Loan Association providing loans to professional and working people. The army of premium collection agents was for many years identified with the Prudential as the Man from the Pru and it moved to its traditional home at Holborn Bars in 1879 and converted to a limited company in 1881. The Prudential Assurance Company Limited was first listed on the London Stock Exchange in 1924, in 1986, Prudential acquired the American insurer Jackson National Life. In 1997, Prudential acquired Scottish Amicable, a business founded in 1826 in Glasgow as the West of Scotland Life Insurance Company, in 1998, Prudential set up Egg, an internet bank within the UK. The subsidiary reached 550,000 customers within nine months but had difficulty achieving profitability, in June 2000 an initial public offering of 21% was made to allow for further growth of the internet business but in February 2006 Prudential decided to repurchase the 21% share of Egg. Egg was subsequently sold to Citibank in January 2007, in 1999, M&G, a UK fund management company, was acquired. In June 2000, the Company was first listed on the New York Stock Exchange to help focus on the US market, in October 2004 Prudential launched a new subsidiary, PruHealth, a joint venture with Discovery Holdings of South Africa selling private medical insurance to the UK market. In April 2008 Prudential outsourced its back office functions to Capita, on 1 March 2010, Prudential announced that it was in advanced talks to purchase the pan-Asian life insurance company of AIG, American International Assurance for approximately £23 billion. The deal later collapsed and AIA ended up raising money in an IPO, in December 2013, Prudential announced the purchase of Ghana’s Express Life Company. Express Life was subsequently rebranded as Prudential Ghana, in September 2014, Prudential purchased Kenyan life insurer Shield Assurance and rebranded it as Prudential Kenya, further expanding the company’s presence in Africa. On 10 March 2015, it was announced that the CEO, Tidjane Thiam, would leave Prudential to become the next CEO of Credit Suisse. On 1 May 2015, it was announced that Mike Wells, head of the companys US business, would succeed Tidjane Thiam as CEO, the Company has four business units, Prudential UK, Europe & Africa, the business offers pensions, annuities, savings and investments. They are particularly known for the sale of with-profit bonds and pensions, corporate pension schemes, bulk annuities
2.
Newark Skyline
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Newark, the largest city in New Jersey and second largest in New York metropolitan area, is one of the United States major air, shipping, and rail hubs. It has a skyline, though shorter than that of much larger New York City. Since the mid-2000s numerous buildings have been re-lit and made more prominent, Newark was founded in 1666, and its downtown grew around the site of the early settlement at Four Corners. Early highrises were developed there and at Military Park during the boom of the Roaring Twenties. In the New Newark era modernist buildings went up, particularly around Washington Park, in the post-industrial-high tech era, development has been concentrated in the Gateway District near Penn Station. Clusters of residential highrises are found throughout the city, particularly near Weequahic Park, three ZMPC Super-Post-Panamax container cranes each measuring 561 feet at Port Newark are the tallest structures in the city. This lists buildings that held the title of tallest building in Newark. Grant USA Tower would have been the tallest building in the United States had it been built and this lists buildings that are proposed for construction. While no official announcement has been made, it is expected that a site across from Newark Broad Street Station would be developed as a mixed-use highrise, panasonic intends to build a new headquarters along the riverfront. In 2011, Prudential announced plans to construct a tower for its headquarters. The company has received a $250 million urban transit tax credit, from the state, the site of the planned 20 story,310 foot,650,000 sq ft tower is on Broad Street just west of Military Park. One Theater Square at 482 feet with 44 floors at 2 Centre Street proposed in 2010 would have been the citys tallest building, and was later planned as a 254 ft 22 story building. One Riverview, a 21-story residential high rise broke ground in September 2013, general Emporis. com - Newark Skyscraperpage. com - Newark Specific
3.
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
4.
New York Stock Exchange
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The New York Stock Exchange, is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the worlds largest stock exchange by market capitalization of its companies at US$19.3 trillion as of June 2016. The average daily trading value was approximately US$169 billion in 2013, the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007, the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists, previously, it was part of NYSE Euronext, which was formed by the NYSEs 2007 merger with Euronext. NYSE and Euronext now operate as divisions of Intercontinental Exchange, the NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation. The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement, previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms, after sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance. Several locations were used between 1817 and 1865, when the present location was adopted, the invention of the electrical telegraph consolidated markets, and New Yorks market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Civil War greatly stimulated speculative securities trading in New York, by 1869 membership had to be capped, and has been sporadically increased since. The latter half of the century saw rapid growth in securities trading. Securities trade in the nineteenth and early twentieth centuries was prone to panics. The Stock Exchange Luncheon Club was situated on the floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building. The NYSE announced its plans to merge with Archipelago on April 21,2005, NYSEs governing board voted to merge with rival Archipelago on December 6,2005, and became a for-profit, public company. It began trading under the name NYSE Group on March 8,2006, Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, the principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE, presently, the chairman is Jeffrey Sprecher
5.
S&P 500
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The S&P500 index components and their weightings are determined by S&P Dow Jones Indices. It differs from other U. S. stock market indices, such as the Dow Jones Industrial Average or the Nasdaq Composite index, because of its diverse constituency and weighting methodology. It is one of the most commonly followed equity indices, and many consider it one of the best representations of the U. S. stock market, the National Bureau of Economic Research has classified common stocks as a leading indicator of business cycles. The S&P500 was developed and continued to be maintained by S&P Dow Jones Indices, S&P Dow Jones Indices publishes many stock market indices such as the Dow Jones Industrial Average, S&P MidCap 400, the S&P SmallCap 600, and the S&P Composite 1500. It is a free-float capitalization-weighted index, and has many symbols, such as, ^GSPC, INX. The Composite Index, as the S&P500 was first called when it introduced its first stock index in 1923, three years later in 1926, the Composite Index expanded to 90 stocks and then in 1957 it expanded to its current 500. Standard & Poors, a company that doles out financial information, in 1941 Poors Publishing merged with Standard Statistics and therein assumed the name Standard and Poors Corporation. The S&P500 index in its present form began on March 4,1957, technology has allowed the index to be calculated and disseminated in real time. The S&P500 is widely used as a measure of the level of stock prices. In September 1962, Ultronic Systems Corp. entered into an agreement with Standard, under the terms of this agreement, Ultronics computed the S&P500 Stock Composite Index, the 425 Stock Industrial Index, the 50 Stock Utility Index, and the 25 Stock Rail Index. Throughout the market day these statistics were furnished to Standard & Poors, in addition, Ultronics also computed and reported the 94 S&P sub-indexes. On August 12,1982, the index closed at 102.42, the index reached a relative intraday high—which was not exceeded for over seven years—of 1,552.87, on March 24,2000, during the dot-com bubble. The index then declined by approximately 50%, to 768.63, on October 10,2002, on May 30,2007, the S&P500 closed at 1,530.23, to set its first all-time closing high in more than seven years. Less than a later, it dropped to 1,400. In mid-2007, the mortgage crisis spread to the wider U. S. financial sector. On November 20,2008, the index closed at 752.44, a modest recovery the following day still left the index down 45. 5% for the year. This year-to-date loss was the greatest since 1931, when the market declined more than 50%. The index closed the year at 903.25, for a loss of 38. 5%, the market continued to decline in early 2009, surrounding the financial crisis of 2008
6.
Newark, New Jersey
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Newark is the most populous city in the U. S. state of New Jersey and the seat of Essex County. For 2015, the Census Bureaus Population Estimates Program calculated a population of 281,944, Newark is the second largest city in the New York metropolitan area, located approximately 8 miles west of lower Manhattan. Settled in 1666 by Puritans from New Haven Colony, Newark is one of the oldest European cities in the United States and its location at the mouth of the Passaic River, has made the citys waterfront an integral part of the Port of New York and New Jersey. Today, Port Newark-Elizabeth is the container shipping terminal of the busiest seaport on the American East Coast. In addition, Newark Liberty International Airport was the first municipal airport in the United States. Several leading companies have their headquarters in Newark, including Prudential, PSEG, Panasonic Corporation of North America, Audible. com, IDT Corporation, the U. S. District Court for the District of New Jersey sits in the city as well. Local cultural venues include the New Jersey Performing Arts Center, Newark Symphony Hall, The Prudential Center and the Newark Museum. Newark is divided into five wards, the East, West, South, North and Central wards. Newarks Branch Brook Park is the oldest county park in the United States and is home to the nations largest collection of cherry blossom trees, Newark was settled in 1666 by Connecticut Puritans led by Robert Treat from the New Haven Colony. It was conceived as an assembly of the faithful, though this did not last for long as new settlers came with different ideas. On October 31,1693 it was organized as a New Jersey township based on the Newark Tract, Newark was granted a Royal charter on April 27,1713. It was incorporated on February 21,1798 by the New Jersey Legislatures Township Act of 1798, during its time as a township, portions were taken to form Springfield Township, Caldwell Township, Orange Township, Bloomfield Township and Clinton Township. Newark was reincorporated as a city on April 11,1836, replacing Newark Township, the previously independent Vailsburg borough was annexed by Newark on January 1,1905. In 1926, South Orange Township changed its name to Maplewood, as a result of this, a portion of Maplewood known as Ivy Hill was re-annexed to Newarks Vailsburg. During the American Revolutionary War British troops made several raids into the town, the city has experienced revitalization since the 1990s. According to the United States Census Bureau, the city had an area of 26.107 square miles. It has the third-smallest land area among the 100 most populous cities in the U. S. behind neighboring Jersey City and Hialeah, the citys altitude ranges from 0 in the east to approximately 230 feet above sea level in the western section of the city. Newark is essentially a large basin sloping towards the Passaic River, historically, Newarks high places have been its wealthier neighborhoods
7.
New Jersey
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New Jersey is a state in the Northeastern and mid-Atlantic regions of the United States. It is bordered on the north and east by New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania, New Jersey is the fourth-smallest state but the 11th-most populous and the most densely populated of the 50 United States. New Jersey lies entirely within the statistical areas of New York City. New Jersey was inhabited by Native Americans for more than 2,800 years, in the early 17th century, the Dutch and the Swedes made the first European settlements. New Jersey was the site of decisive battles during the American Revolutionary War in the 18th century. In the 19th century, factories in cities such as Camden, Paterson, Newark, Trenton, around 180 million years ago, during the Jurassic Period, New Jersey bordered North Africa. The pressure of the collision between North America and Africa gave rise to the Appalachian Mountains, around 18,000 years ago, the Ice Age resulted in glaciers that reached New Jersey. As the glaciers retreated, they left behind Lake Passaic, as well as rivers, swamps. New Jersey was originally settled by Native Americans, with the Lenni-Lenape being dominant at the time of contact, scheyichbi is the Lenape name for the land that is now New Jersey. The Lenape society was divided into clans that were based upon common female ancestors. These clans were organized into three distinct phratries identified by their animal sign, Turtle, Turkey, and Wolf and they first encountered the Dutch in the early 17th century, and their primary relationship with the Europeans was through fur trade. The Dutch became the first Europeans to lay claim to lands in New Jersey, the Dutch colony of New Netherland consisted of parts of modern Middle Atlantic states. Although the European principle of ownership was not recognized by the Lenape. The first to do so was Michiel Pauw who established a patronship called Pavonia in 1630 along the North River which eventually became the Bergen, peter Minuits purchase of lands along the Delaware River established the colony of New Sweden. During the English Civil War, the Channel Island of Jersey remained loyal to the British Crown and it was from the Royal Square in St. Helier that Charles II of England was proclaimed King in 1649, following the execution of his father, Charles I. The North American lands were divided by Charles II, who gave his brother, the Duke of York, the region between New England and Maryland as a proprietary colony. James then granted the land between the Hudson River and the Delaware River to two friends who had remained loyal through the English Civil War, Sir George Carteret and Lord Berkeley of Stratton, the area was named the Province of New Jersey. Since the states inception, New Jersey has been characterized by ethnic, New England Congregationalists settled alongside Scots Presbyterians and Dutch Reformed migrants
8.
United States
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Forty-eight of the fifty states and the federal district are contiguous and located in North America between Canada and Mexico. The state of Alaska is in the northwest corner of North America, bordered by Canada to the east, the state of Hawaii is an archipelago in the mid-Pacific Ocean. The U. S. territories are scattered about the Pacific Ocean, the geography, climate and wildlife of the country are extremely diverse. At 3.8 million square miles and with over 324 million people, the United States is the worlds third- or fourth-largest country by area, third-largest by land area. It is one of the worlds most ethnically diverse and multicultural nations, paleo-Indians migrated from Asia to the North American mainland at least 15,000 years ago. European colonization began in the 16th century, the United States emerged from 13 British colonies along the East Coast. Numerous disputes between Great Britain and the following the Seven Years War led to the American Revolution. On July 4,1776, during the course of the American Revolutionary War, the war ended in 1783 with recognition of the independence of the United States by Great Britain, representing the first successful war of independence against a European power. The current constitution was adopted in 1788, after the Articles of Confederation, the first ten amendments, collectively named the Bill of Rights, were ratified in 1791 and designed to guarantee many fundamental civil liberties. During the second half of the 19th century, the American Civil War led to the end of slavery in the country. By the end of century, the United States extended into the Pacific Ocean. The Spanish–American War and World War I confirmed the status as a global military power. The end of the Cold War and the dissolution of the Soviet Union in 1991 left the United States as the sole superpower. The U. S. is a member of the United Nations, World Bank, International Monetary Fund, Organization of American States. The United States is a developed country, with the worlds largest economy by nominal GDP. It ranks highly in several measures of performance, including average wage, human development, per capita GDP. While the U. S. economy is considered post-industrial, characterized by the dominance of services and knowledge economy, the United States is a prominent political and cultural force internationally, and a leader in scientific research and technological innovations. In 1507, the German cartographer Martin Waldseemüller produced a map on which he named the lands of the Western Hemisphere America after the Italian explorer and cartographer Amerigo Vespucci
9.
John F. Dryden
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John Fairfield Dryden was the founder of the Prudential Insurance Company and a United States Senator from New Jersey. He was known as the father of industrial insurance, born in Temple, Maine, Dryden moved in 1846 with his parents to Worcester, Massachusetts. He graduated from Worcester Academy and later attended Yale College, in 1875 he founded the Widows and Orphans Friendly Society in Newark, New Jersey, becoming its first secretary and in 1881 its president, serving in the latter position until 1911. He was elected as a Republican to the U. S. Senate to fill the vacancy caused by the death of William J. Sewell, serving from January 29,1902, to March 4,1907. Dryden was a candidate for reelection, but withdrew because of a deadlock in the state legislature, while in the Senate, he was chairman of the Committee on Relations with Canada and a member of the Committee on Enrolled Bills. Dryden died in Newark, New Jersey on November 24,1911 from pneumonia following removal of gall stones two weeks earlier and his estate was valued at $50,000,000. He was buried in Mount Pleasant Cemetery in Newark, in addition to his home in Bernardsville, New Jersey, Dryden was in the process of constructing a home in High Point, New Jersey that was to be one of the largest homes in the country. His daughter, Susan married Anthony R. Kuser, who would use part of the Prudential fortune to donate 10,500 acres for a park at New Jerseys highest point. John Dryden Kuser, Drydens grandson, was a state senator, biographical Directory of the United States Congress. Works by John Fairfield Dryden at Project Gutenberg Works by or about John F. Dryden at Internet Archive
10.
Prudential Headquarters
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Prudential Financial, as it is known today, began as The Widows and Orphans Friendly Society in 1875. For a short time it was called the Prudential Friendly Society, and for years after 1877 it was known as the Prudential Insurance Company of America. Based in Newark, New Jersey, the company has constructed a number of buildings to house its headquarters downtown in the Four Corners district, in addition to its own offices, the corporation has financed large projects in the city, including Gateway Center and Prudential Center. Prudential has about 5,200 employees in the city, the four buildings were known as the Main, the North, the West, and the Northwest and were the tallest in the city at the turn of the 20th century. They were demolished in 1956 to make way for the current headquarters, the proposed 45-story Prudential Tower would have been one of the tallest in Newark had it been built. The Gothic Revival structure was designed by the architect Cass Gilbert, renowned for works including the Woolworth Building. Gilbert was also architect for the Kinney Building at the southeast corner of Broad, the ODB was responsible for payments to military dependents and their families. Work went on round the clock at 213 Washington Street until it was returned to Prudential in 1946, prudentials current headquarters, the Prudential Plaza, opened in 1960 during the New Newark era when modernist buildings were built downtown. The International style building is one the tallest and most prominent on the Newark skyline, the facade of Vermont marble includes 1600 windows set in aluminum frames. On August 1,2004, the U. S, in 2011, Prudential announced plans to construct an office tower for its headquarters complex. The company had received a $250 million urban transit tax credit, from the state, the site of the $444 million 650,000 sq ft tower is on Broad Street just west of Military Park. The exterior of the tower was completed as of January 2015 and the building opened in July 2015. <r List of tallest buildings in Newark Four Corners Historic District
11.
John Strangfeld
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John R. Strangfeld is an American businessman. He is the current Chairman, Chief Executive Officer, and President of Prudential Financial, Strangfeld is also a member of the Raven Society, the oldest and most prestigious honorary society at the University of Virginia. He holds the Chartered Financial Analyst designation, Strangfeld received a B. S. in Business Administration from Susquehanna University and an M. B. A. from the Darden School of Business at the University of Virginia. Profile for John R. Strangfeld from Forbes. com Profile for John R. Strangfeld from Businessweek. com
12.
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
13.
Earnings before interest and taxes
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In accounting and finance, earnings before interest and taxes, is a measure of a firms profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses, when a firm does not have non-operating income, then operating income is sometimes used as a synonym for EBIT and operating profit. To calculate EBIT, expenses are subtracted from revenues, net income is later obtained by subtracting interest and taxes from the result
14.
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
15.
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
16.
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
17.
Fortune 500
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The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest U. S. corporations by total revenue for their respective fiscal years. The list includes public companies, along with privately held companies for which revenues are publicly available, the concept of the Fortune 500 was created by Edgar P. Smith, a Fortune editor, and the first list was published in 1955. The Fortune 500 is more used than its subset Fortune 100 or wider list Fortune 1000. The original Fortune 500 was limited to companies whose revenues were derived from manufacturing, mining, at the same time, Fortune published companion Fortune 50 lists of the 50 largest commercial banks, utilities, life insurance companies, retailers and transportation companies. Fortune magazine changed its methodology in 1994 to include service companies, with the change came 291 new entrants to the famous list including three in the Top 10. The Fortune 500 was first published in 1955, created by Edgar P. Smith, the original top ten companies were General Motors, Exxon Mobil, U. S. Steel, General Electric, Esmark, Chrysler, Armour, Gulf Oil, Mobil and DuPont
18.
Insurance
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Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, an entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder, the insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the policy is called the premium. If the insured experiences a loss which is covered by the insurance policy. Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessels capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c.1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the guarantee to cancel the loan should the shipment be stolen. At some point in the 1st millennium BC, the inhabitants of Rhodes created the general average and this allowed groups of merchants to pay to insure their goods being shipped together. The collected premiums would be used to any merchant whose goods were jettisoned during transport. Separate insurance contracts were invented in Genoa in the 14th century, the first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks. These new insurance contracts allowed insurance to be separated from investment, Insurance became far more sophisticated in Enlightenment era Europe, and specialized varieties developed. Property insurance as we know it today can be traced to the Great Fire of London, initially,5,000 homes were insured by his Insurance Office. At the same time, the first insurance schemes for the underwriting of business ventures became available, by the end of the seventeenth century, Londons growing importance as a center for trade was increasing demand for marine insurance. These informal beginnings led to the establishment of the insurance market Lloyds of London and several related shipping, the first life insurance policies were taken out in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot, edward Rowe Mores established the Society for Equitable Assurances on Lives and Survivorship in 1762. In the late 19th century, accident insurance began to become available and this operated much like modern disability insurance. The first company to offer accident insurance was the Railway Passengers Assurance Company, by the late 19th century, governments began to initiate national insurance programs against sickness and old age
19.
Retail
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Retail markets and shops have a very ancient history, dating back to antiquity. Retailing involves the process of selling goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand is identified through a supply chain, Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel and presentation. In the digital age, a number of retailers are seeking to reach broader markets by selling through multiple channels. Digital technologies are changing the way that consumers pay for goods. Retailing support services may include the provision of credit, delivery services. Shopping generally refers to the act of buying products, sometimes this is done to obtain final goods, including necessities such as food and clothing, sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing, it not always result in a purchase. Retail shops occur in a range of types and in many different contexts - from strip shopping centres in residential streets through to large. Shopping streets may restrict traffic to pedestrians only, forms of non-shop retailing include online retailing and mail order. Retail comes from the Old French word tailler, which means to cut off, clip, pare and it was first recorded as a noun with the meaning of a sale in small quantities in 1433. Like in French, the retail in both Dutch and German also refers to the sale of small quantities of items. Also see History of merchants, History of the market place, open air, public markets were known in ancient Babylonia and Assyria. These markets typically occupied a place in the towns centre, surrounding the market, skilled artisans, such as metal-workers and leather workers, occupied premises in alley ways that led to the open market-place. These artisans may have sold wares directly from their premises, in ancient Greece markets operated within the agora, and in ancient Rome the forum. In antiquity, exchange involved direct selling, merchants or peddlers, the Phoenicians, noted for their seafaring skills, plied their ships across the Mediterranean, becoming a major trading power by 9th century BCE. The Phoenicians imported and exported wood, textiles, glass and produce such as wine, oil, dried fruit, the Phoenicians extensive trade networks necessitated considerable book-keeping and correspondence. In around 1500 BCE, the Phoenicians developed an alphabet which was much easier to learn that the complex scripts used in ancient Egypt
20.
Life insurance
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Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum, other expenses can also be included in the benefits. Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer, common examples are claims relating to suicide, fraud, war, riot, and civil commotion. Life-based contracts tend to fall into two categories, Protection policies – designed to provide a benefit, typically a lump sum payment. A common form of a protection policy design is term insurance, investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms are whole life, universal life, and variable life policies, an early form of life insurance dates to Ancient Rome, burial clubs covered the cost of members funeral expenses and assisted survivors financially. The first company to offer insurance in modern times was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot. Each member made a payment per share on one to three shares with consideration to age of the members being twelve to fifty-five. At the end of the year a portion of the contribution was divided among the wives and children of deceased members. The Amicable Society started with 2000 members and he was unsuccessful in his attempts at procuring a charter from the government. His disciple, Edward Rowe Mores, was able to establish the Society for Equitable Assurances on Lives, Mores also gave the name actuary to the chief official - the earliest known reference to the position as a business concern. The first modern actuary was William Morgan, who served from 1775 to 1830, in 1776 the Society carried out the first actuarial valuation of liabilities and subsequently distributed the first reversionary bonus and interim bonus among its members. It also used regular valuations to balance competing interests, the Society sought to treat its members equitably and the Directors tried to ensure that policyholders received a fair return on their investments. Premiums were regulated according to age, and anybody could be admitted regardless of their state of health, the sale of life insurance in the U. S. began in the 1760s. Between 1787 and 1837 more than two dozen life insurance companies were started, but fewer than half a dozen survived. S. The person responsible for making payments for a policy is the policy owner, the owner and insured may or may not be the same person. For example, if Joe buys a policy on his own life, but if Jane, his wife, buys a policy on Joes life, she is the owner and he is the insured
21.
Pension
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The terms retirement plan and superannuation tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, called retirement plans in the United States, they are commonly known as pension schemes in the United Kingdom and Ireland and superannuation plans in Australia and New Zealand. Retirement pensions are typically in the form of a life annuity. A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension, labor unions, the government, or other organizations may also fund pensions. Occupational pensions are a form of deferred compensation, usually advantageous to employee, many pensions also contain an additional insurance aspect, since they often will pay benefits to survivors or disabled beneficiaries. Other vehicles may provide a stream of payments. The common use of the pension is to describe the payments a person receives upon retirement. A recipient of a retirement pension is known as a pensioner or retiree, a retirement plan is an arrangement to provide people with an income during retirement when they are no longer earning a steady income from employment. Often retirement plans require both the employer and employee to contribute money to a fund during their employment in order to receive defined benefits upon retirement and it is a tax deferred savings vehicle that allows for the tax-free accumulation of a fund for later use as a retirement income. Funding can be provided in other ways, such as labor unions, government agencies. Pension plans are therefore a form of deferred compensation, a SSAS is a type of employment-based Pension in the UK. Some countries also grant pensions to military veterans, military pensions are overseen by the government, an example of a standing agency is the United States Department of Veterans Affairs. Ad hoc committees may also be formed to investigate specific tasks, Commission on Veterans Pensions in 1955–56. In early 2017, the Wall Street Journal reported the percentage of American private-sector workers who have a pension is 13%. Many countries have created funds for their citizens and residents to provide income when they retire, typically this requires payments throughout the citizens working life in order to qualify for benefits later on. A basic state pension is a contribution based benefit, and depends on an individuals contribution history, for examples, see National Insurance in the UK, or Social Security in the United States of America. Many countries have put in place a social pension. These are regular, tax-funded non-contributory cash transfers paid to older people, over 80 countries have social pensions
22.
Retirement
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Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours, an increasing number of individuals are choosing to put off this point of total retirement, by selecting to exist in the emerging state of Pre-tirement. In most countries, the idea of retirement is of recent origin, being introduced during the late 19th, previously, low life expectancy and the absence of pension arrangements meant that most workers continued to work until death. Germany was the first country to introduce retirement, in 1889, nowadays, most developed countries have systems to provide pensions on retirement in old age, which may be sponsored by employers and/or the state. In many poorer countries, support for the old is still provided through the family. Today, retirement with a pension is considered a right of the worker in many societies, in many western countries this right is mentioned in national constitutions. Retirement, or the practice of leaving ones job or ceasing to work after reaching an age, has been around since around the 18th century. Prior to the 18th century, the life expectancy of people was between 26 and 40 years. Due to this, only a percentage of the population were reaching an age where physical impairments began to be obstacles to working. Retirement as a government policy began to be adopted by countries during the late 19th century, a person may retire at whatever age they please. However, a countrys tax laws and/or state old-age pension rules usually mean that in a country a certain age is thought of as the standard retirement age. The standard retirement age varies from country to country but it is generally between 50 and 70, in some countries this age is different for males and females, although this has recently been challenged in some countries, and in some countries the ages are being brought into line. The table below shows the variation in eligibility ages for public benefits in the United States and many European countries. Notes, Parentheses indicate eligibility age for women when different, 1–2, OECD Pensions at a Glance, Cols. 3–6, Tabulations from HRS, ELSA and SHARE, square brackets indicate early retirement for some public employees. * In France, the retirement age has been extended to 62 and 67 respectively, for those turning 65 in 2008, full benefits will be payable beginning at age 66. Public servants are not covered by Social Security but have their own pension programs. Military members of the US Armed Forces may elect to retire after 20 years of active duty and their retirement pay is calculated on total number of years on active duty, their final pay grade and the retirement system in place when they entered service
23.
Asset management
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Asset management, broadly defined, refers to any system that monitors and maintains things of value to an entity or group. It may apply to both tangible assets such as buildings and to intangible assets such as capital, intellectual property. Asset management is a process of deploying, operating, maintaining, upgrading. The term is most commonly used in the world to describe people. These include, for example, investment managers that manage the assets of a pension fund, the most common usage of the term asset manager refers to investment management, the sector of the financial services industry that manages investment funds and segregated client accounts. An asset management is a part of a company which comprises experts who manage money. Operating and sustainment of assets in a constrained budget environment require a prioritization scheme, as a way of illustration, the recent development of renewable energy has seen the rise of effective asset managers involved in the management of solar systems. These teams are more and more teaming-up with financial asset managers in order to offer turn key solutions to investors. Software asset management is one kind of asset management. It is related to asset health management, infrastructure asset management expands on this theme in relation primarily to public sector, utilities, property and transport systems. An example in which public asset management is used is land-use development, an EAM requires an asset registry combined with a computerized maintenance management system. All public assets are interconnected and share proximity, possible through the use of information systems. A GIS platform combined with information of both the hard and soft assets helps to remove the traditional silos of structured municipal functions, the GIS platform is only an assisting tool, asset managers need to make informed decisions about their assets in order to fulfill their organizational goals. List of asset management firms P2P Asset Management Robo-advisor Baird, G, defining Public Asset Management for Municipal Water Utilities. Journal American Water Works Association May 2011,103,5,30, www. awwa. org
24.
Security (finance)
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A security is a tradable financial asset. The term commonly refers to any form of instrument. In some jurisdictions the term specifically excludes financial instruments other than equities, in some jurisdictions it includes some instruments that are close to equities and fixed income, e. g. equity warrants. In the United States, a security is a financial asset of any kind. Securities are broadly categorized into, debt securities equity securities derivatives, the company or other entity issuing the security is called the issuer. A countrys regulatory structure determines what qualifies as a security, for example, private investment pools may have some features of securities, but they may not be registered or regulated as such if they meet various restrictions. Securities may be represented by a certificate or, more typically, non-certificated, region or country Market capitalization State Securities are the traditional way that commercial enterprises raise new capital. These may be an alternative to bank loans depending on their pricing. Another disadvantage of bank loans as a source of financing is that the bank may seek a measure of protection against default by the borrower via extensive financial covenants, through securities, capital is provided by investors who purchase the securities upon their initial issuance. In a similar way, a government may issue securities too when it needs to increase government debt, investors in securities may be retail, i. e. members of the public investing other than by way of business. The greatest part of investment, in terms of volume, is wholesale, i. e. by financial institutions acting on their own account, important institutional investors include investment banks, insurance companies, pension funds and other managed funds. The traditional economic function of the purchase of securities is investment, debt securities generally offer a higher rate of interest than bank deposits, and equities may offer the prospect of capital growth. Equity investment may also control of the business of the issuer. Debt holdings may also offer some measure of control to the if the company is a fledgling start-up or an old giant undergoing restructuring. In these cases, if interest payments are missed, the creditors may take control of the company, the last decade has seen an enormous growth in the use of securities as collateral. Purchasing securities with borrowed money secured by other securities or cash itself is called buying on margin, where A is owed a debt or other obligation by B, A may require B to deliver property rights in securities to A, either at inception or only in default. Collateral arrangements are divided into two categories, namely security interests and outright collateral transfers. Commonly, commercial banks, investment banks, government agencies and other investors such as mutual funds are significant collateral takers as well as providers
25.
Real estate
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Also, the business of real estate, the profession of buying, selling, or renting land, buildings or housing. It is a term used in jurisdictions whose legal system is derived from English common law, such as India, the United Kingdom, United States, Canada, Pakistan, Australia. Residential real estate may contain either a family or multifamily structure. Residences can be classified by, if, and how they are connected to neighbouring residences, different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by an entity and leased out. Major categories in North America and Europe Attached / multi-unit dwellings Apartment or Flat – An individual unit in a multi-unit building, the boundaries of the apartment are generally defined by a perimeter of locked or lockable doors. Often seen in apartment buildings. Multi-family house – Often seen in multi-story detached buildings, where each floor is an apartment or unit. Terraced house – A number of single or multi-unit buildings in a row with shared walls. Condominium – Building or complex, similar to apartments, owned by individuals, common grounds and common areas within the complex are owned and shared jointly. There are townhouse or rowhouse style condominiums as well, semi-detached dwellings Duplex – Two units with one shared wall. Single-family detached house Portable dwellings Mobile homes – Potentially a full-time residence which can be movable on wheels, houseboats – A floating home Tents – Usually very temporary, with roof and walls consisting only of fabric-like material. The size of an apartment or house can be described in square feet or meters, in the United States, this includes the area of living space, excluding the garage and other non-living spaces. It can be described roughly by the number of rooms. A studio apartment has a bedroom with no living room. A one-bedroom apartment has a living or dining room separate from the bedroom, Two bedroom, three bedroom, and larger units are common. Major categories in India and the Asian Subcontinent Co-operative Housing Societies Condominiums Chawls Villas Havelis The size is measured in Gaz, Quila, Marla, Beegha, and acre. See List of house types for a listing of housing types and layouts, real estate trends for shifts in the market
26.
Asia
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Asia covers an area of 44,579,000 square kilometres, about 30% of Earths total land area and 8. 7% of the Earths total surface area. The continent, which has long been home to the majority of the population, was the site of many of the first civilizations. Asia is notable for not only its large size and population. In general terms, Asia is bounded on the east by the Pacific Ocean, on the south by the Indian Ocean, the western boundary with Europe is a historical and cultural construct, as there is no clear physical and geographical separation between them. The most commonly accepted boundaries place Asia to the east of the Suez Canal, the Ural River, and the Ural Mountains, and south of the Caucasus Mountains, China and India alternated in being the largest economies in the world from 1 to 1800 A. D. The accidental discovery of America by Columbus in search for India demonstrates this deep fascination, the Silk Road became the main East-West trading route in the Asian hitherland while the Straits of Malacca stood as a major sea route. Asia has exhibited economic dynamism as well as robust population growth during the 20th century, given its size and diversity, the concept of Asia—a name dating back to classical antiquity—may actually have more to do with human geography than physical geography. Asia varies greatly across and within its regions with regard to ethnic groups, cultures, environments, economics, historical ties, the boundary between Asia and Africa is the Red Sea, the Gulf of Suez, and the Suez Canal. This makes Egypt a transcontinental country, with the Sinai peninsula in Asia, the border between Asia and Europe was historically defined by European academics. In Sweden, five years after Peters death, in 1730 Philip Johan von Strahlenberg published a new atlas proposing the Urals as the border of Asia, the Russians were enthusiastic about the concept, which allowed them to keep their European identity in geography. Tatishchev announced that he had proposed the idea to von Strahlenberg, the latter had suggested the Emba River as the lower boundary. Over the next century various proposals were made until the Ural River prevailed in the mid-19th century, the border had been moved perforce from the Black Sea to the Caspian Sea into which the Ural River projects. The border between the Black Sea and the Caspian is usually placed along the crest of the Caucasus Mountains, the border between Asia and the loosely defined region of Oceania is usually placed somewhere in the Malay Archipelago. The terms Southeast Asia and Oceania, devised in the 19th century, have had several different geographic meanings since their inception. The chief factor in determining which islands of the Malay Archipelago are Asian has been the location of the possessions of the various empires there. Lewis and Wigen assert, The narrowing of Southeast Asia to its present boundaries was thus a gradual process, Asia is larger and more culturally diverse than Europe. It does not exactly correspond to the borders of its various types of constituents. From the time of Herodotus a minority of geographers have rejected the three-continent system on the grounds there is no or is no substantial physical separation between them
27.
Europe
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Europe is a continent that comprises the westernmost part of Eurasia. Europe is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, yet the non-oceanic borders of Europe—a concept dating back to classical antiquity—are arbitrary. Europe covers about 10,180,000 square kilometres, or 2% of the Earths surface, politically, Europe is divided into about fifty sovereign states of which the Russian Federation is the largest and most populous, spanning 39% of the continent and comprising 15% of its population. Europe had a population of about 740 million as of 2015. Further from the sea, seasonal differences are more noticeable than close to the coast, Europe, in particular ancient Greece, was the birthplace of Western civilization. The fall of the Western Roman Empire, during the period, marked the end of ancient history. Renaissance humanism, exploration, art, and science led to the modern era, from the Age of Discovery onwards, Europe played a predominant role in global affairs. Between the 16th and 20th centuries, European powers controlled at times the Americas, most of Africa, Oceania. The Industrial Revolution, which began in Great Britain at the end of the 18th century, gave rise to economic, cultural, and social change in Western Europe. During the Cold War, Europe was divided along the Iron Curtain between NATO in the west and the Warsaw Pact in the east, until the revolutions of 1989 and fall of the Berlin Wall. In 1955, the Council of Europe was formed following a speech by Sir Winston Churchill and it includes all states except for Belarus, Kazakhstan and Vatican City. Further European integration by some states led to the formation of the European Union, the EU originated in Western Europe but has been expanding eastward since the fall of the Soviet Union in 1991. The European Anthem is Ode to Joy and states celebrate peace, in classical Greek mythology, Europa is the name of either a Phoenician princess or of a queen of Crete. The name contains the elements εὐρύς, wide, broad and ὤψ eye, broad has been an epithet of Earth herself in the reconstructed Proto-Indo-European religion and the poetry devoted to it. For the second part also the divine attributes of grey-eyed Athena or ox-eyed Hera. The same naming motive according to cartographic convention appears in Greek Ανατολή, Martin Litchfield West stated that phonologically, the match between Europas name and any form of the Semitic word is very poor. Next to these there is also a Proto-Indo-European root *h1regʷos, meaning darkness. Most major world languages use words derived from Eurṓpē or Europa to refer to the continent, in some Turkic languages the originally Persian name Frangistan is used casually in referring to much of Europe, besides official names such as Avrupa or Evropa
28.
Latin America
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Latin America is a group of countries and dependencies in the Americas where Romance languages are predominant. It is therefore broader than the terms Ibero-America or Hispanic America—though it usually excludes French Canada and it has an area of approximately 19,197,000 km2, almost 13% of the Earths land surface area. As of 2015, its population was estimated at more than 626 million and in 2014, Latin America had a combined nominal GDP of 5,573,397 million USD and a GDP PPP of 7,531,585 million USD. The term Latin America was first used in 1861 in La revue des races Latines, a further investigation of the concept of Latin America is by Michel Gobat in the American Historical Review. The term was first used in Paris in an 1856 conference by the Chilean politician Francisco Bilbao and this term was also used in 1861 by French scholars in La revue des races Latines, a magazine dedicated to the Pan-Latinism movement. Latin America is, therefore, defined as all parts of the Americas that were once part of the Spanish. By this definition, Latin America is coterminous with Ibero-America and this definition emphasizes a similar socioeconomic history of the region, which was characterized by formal or informal colonialism, rather than cultural aspects. As such, some sources avoid this oversimplification by using the phrase Latin America, the distinction between Latin America and Anglo-America is a convention based on the predominant languages in the Americas by which Romance-language and English-speaking cultures are distinguished. Latin America can be subdivided into several subregions based on geography, politics, demographics and it may be subdivided on linguistic grounds into Hispanic America, Portuguese America and French America. *, Not a sovereign state The concept of Latin America has been criticized by a number of intellectuals, the earliest known settlement was identified at Monte Verde, near Puerto Montt in Southern Chile. Its occupation dates to some 14,000 years ago and there is disputed evidence of even earlier occupation. Over the course of millennia, people spread to all parts of the continents, by the first millennium CE, South Americas vast rainforests, mountains, plains and coasts were the home of tens of millions of people. Some groups formed more permanent settlements such as the Chibcha and the Tairona groups and these groups are in the circum Caribbean region. The Chibchas of Colombia, the Quechuas and Aymaras of Bolivia, the region was home to many indigenous peoples and advanced civilizations, including the Aztecs, Toltecs, Maya, and Inca. The Aztec empire was ultimately the most powerful civilization known throughout the Americas, with the arrival of the Europeans following Christopher Columbus voyages, the indigenous elites, such as the Incas and Aztecs, lost power to the heavy European invasion. Hernándo Cortés seized the Aztec elites power with the help of local groups who had favored the Aztec elite, epidemics of diseases brought by the Europeans, such as smallpox and measles, wiped out a large portion of the indigenous population. Historians cannot determine the number of natives who died due to European diseases, due to the lack of written records, specific numbers are hard to verify. Many of the survivors were forced to work in European plantations, intermixing between the indigenous peoples and the European colonists was very common, and, by the end of the colonial period, people of mixed ancestry formed majorities in several colonies
29.
Rock of Gibraltar
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The Rock of Gibraltar is a monolithic limestone promontory located in the British overseas territory of Gibraltar, near the southwestern tip of Europe on the Iberian Peninsula. The Rock is Crown property of the United Kingdom, and borders Spain, most of the Rocks upper area is covered by a nature reserve, which is home to around 300 Barbary macaques. These macaques, as well as a network of tunnels. The Rock of Gibraltar was one of the Pillars of Hercules and was known to the Romans as Mons Calpe, in ancient times, the two points marked the limit to the known world, a myth originally fostered by the Greeks and the Phoenicians. Gibraltar is surrounded by the Mediterranean Sea and has no contact with the Atlantic Ocean, the Rock of Gibraltar is a monolithic promontory. The Main Ridge has a sharp crest with peaks over 400 m above sea level and it is a deeply eroded and highly faulted limb of an overturned fold. The sedimentary strata composing the Rock of Gibraltar are overturned, with the oldest strata overlying the youngest strata and these strata are the Catalan Bay Shale Formation, Gibraltar Limestone, Little Bay Shale Formation, and Dockyard Shale Formation. These strata are noticeably faulted and deformed, the Catalan Bay Shale Formation contains unidentifiable echinoid spines and belemnite fragments and infrequent Early Jurassic ammonites. The Gibraltar Limestone consists of greyish-white or pale-gray compact, and sometime finely crystalline and this formation comprises about three quarters of the Rock of Gibraltar. Geologists have found various poorly preserved and badly eroded and rolled marine fossils within it, the fossils found in the Gibraltar Limestone include various brachiopods, corals, echinoid fragments, gastropods, pelecypods, and stromatolites. These fossils indicate an Early Jurassic age for the deposition of the Gibraltar Limestone, the Little Bay and Dockyard shale formations form a very minor part of the Rock of Gibraltar. The Little Bay Shale Formation consists of dark bluish-gray, unfossiliferous shale, which is interbedded with layers of grit, mudstone. The Dockyard Shale Formation is an undescribed variegated shale of unknown age that lies buried beneath the Gibraltars dockyard and coastal protection structures. When the African tectonic plate collided tightly with the Eurasian plate, the Atlantic Ocean then broke through the Strait of Gibraltar, and the resultant flooding created the Mediterranean Sea. The Rock forms part of the Betic Cordillera, a range that dominates south-eastern Iberia. Today, the Rock of Gibraltar forms a peninsula jutting out into the Strait of Gibraltar from the southern coast of Spain, the promontory is linked to the continent by means of a sandy tombolo with a maximum elevation of 3 m. To the north, the Rock rises vertically from sea level up to 411.5 m at Rock Gun Battery, the Rocks highest point stands 426 m near the south end above the strait at OHaras Battery. The Rocks central peak, Signal Hill and the top station of the Gibraltar Cable Car, the western face, where the City of Gibraltar is located, is comparatively less steep
30.
Logo
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A logo is a graphic mark, emblem, or symbol commonly used by commercial enterprises, organizations, and even individuals to aid and promote instant public recognition. There are purely graphic emblems, symbols, icons and logos, in the days of hot metal typesetting, a logotype was one word cast as a single piece of type. By extension, the term was used for a uniquely set. At the level of communication and in common usage, a companys logo is today often synonymous with its trademark or brand. The arts were expanding in purpose—from expression and decoration of an artistic, storytelling nature, to a differentiation of brands, consultancies and trades-groups in the commercial arts were growing and organizing, by 1890, the US had 700 lithographic printing firms employing more than 8,000 people. Artistic credit tended to be assigned to the company, as opposed to the individual artists who usually performed less important jobs. Playful children’s books, authoritative newspapers, and conversational periodicals developed their own visual and editorial styles for unique, as printing costs decreased, literacy rates increased, and visual styles changed, the Victorian decorative arts led to an expansion of typographic styles and methods of representing businesses. A renewal of interest in craftsmanship and quality also provided the artists and companies with a greater interest in credit, leading to the creation of unique logos and marks. By the 1950s, Modernism had shed its roots as an artistic movement in Europe to become an international, commercialized movement with adherents in the United States. Modernist-inspired logos proved successful in the era of mass visual communication ushered in by television, improvements in printing technology, the current era of logo design began in the 1870s with the first abstract logo, the Bass red triangle. As of 2014, many corporations, products, brands, services, agencies, as a result, only a few of the thousands of ideograms in circulation are recognizable without a name. Ideograms and symbols may be effective than written names, especially for logos translated into many alphabets in increasingly globalized markets. For instance, a written in Arabic script might have little resonance in most European markets. By contrast, ideograms keep the general nature of a product in both markets. In non-profit areas, the Red Cross exemplifies a well-known emblem that does not need an accompanying name, the red cross and red crescent are among the best-recognized symbols in the world. National Red Cross and Red Crescent Societies and their Federation as well as the International Committee of the Red Cross include these symbols in their logos, branding can aim to facilitate cross-language marketing. Consumers and potential consumers can identify the Coca-Cola name written in different alphabets because of the standard color, the text was written in Spencerian Script, which was a popular writing style when the Coca Cola Logo was being designed. Since a logo is the visual entity signifying an organization, logo design is an important area of graphic design, a logo is the central element of a complex identification system that must be functionally extended to all communications of an organization
31.
Snake Hill
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Snake Hill is an igneous rock intrusion jutting up from the floor of the Meadowlands in southern Secaucus, New Jersey, USA, at a bend in the Hackensack River. It was largely obliterated in the 1960s by quarrying that reduced the height of some sections by one-quarter, the diabase rock was used as building material in growing areas like Jersey City. The remnant of the hill is the feature of Laurel Hill County Park. The high point, a 203-foot graffiti-covered inselberg rock formation, is a landmark to travelers on the New Jersey Turnpikes Eastern Spur. The crest of the unusual, sloping ridge is about 150 feet high. Snake Hill was formed by the intrusion of magma that created the Palisades cliffs roughly 200 million years ago. The Dutch colonists who settled the area called the high bluff Slangenbergh because of the many snakes found there. In 1658, Nicholas Varlet and Nicholas Bayard purchased Secaucus by Indian deed, the entire plantation was re-sold in 1676 to Edward Earle, Jr. who sold a 50% interest to William Pinhorne. Three years later, Pinhorne and Earle divided the land into two plantations, with Pinhorne taking the roughly 1,200 acres called the Long Neck. Pinhorne lived there, naming the section containing his residence Mount Pinhorne, from 1855 to 1962, there were Hudson County penal and charitable institutions on Snake Hill, which was essentially a self-contained city in which hundreds of people lived at any given time. The grounds had its own support facilities that included a system, reservoir, electricity plant. The medical facilities included a Contagious Diseases Hospital, a Tuberculosis Sanatorium, and the Hudson County Lunatic Asylum, when the Asylum opened, it had a capacity of 140 patients. Different wings were designated for men and women, and each room held several beds, residents sometimes signed in their elderly relatives when they could no longer afford to take care of them. At the time, it was not difficult to sign in a patient, according to Secaucus Town Historian Dan McDonough, Anybody could sign somebody in. However, you would need three doctors to sign you out, the causes of death of many patients were not recorded, because the patients had been given paupers funeral in the potters field on the grounds, which is known as the Hudson County Burial Grounds. In the 1930s, it adopted the name Mental Disease Hospital, at the end of that decade, the hospital was moved to County Avenue in Secaucus, at the location where Meadowview Psychiatric Hospital now exists. In 1939, the Mental Disease Hospital, which by then housed 1,872 people, patients were moved to the new hospital, at what is now the Meadowview Complex, in January 1927. They were transported in buses and ambulances, according to a contemporary Newark Evening News article, the Hudson County Hospital for Mental Diseases was renamed Hudson County Meadowview Hospital in 1967
32.
Secaucus, New Jersey
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Secaucus is a town in Hudson County, New Jersey, United States. Secaucus is a derivation of the Algonquian words for black and snake, or place of snakes, or sekakes, sikakes, once an island, was part of the territory purchased by Director-General of New Netherland, Peter Stuyvesant in 1658. Settlement had begun by at least 1733 by the Smith family, Secaucus was originally formed as a borough by an act of the New Jersey Legislature on March 12,1900, from portions of North Bergen. On June 7,1917, Secaucus was incorporated as a town, replacing Secaucus borough, Secaucus was originally an agricultural community specializing in flowers. It later became known for its pig farms in the first half of the 20th century, in the early 1900s the town was home to approximately 55 pig farms, which housed nearly 250,000 pigs, which outnumbered humans 16 to 1. These farms served the demands of Newark and New York. Many of them were politicians, most notably pork peddler Henry B. Krajewski, who ran for New Jersey senator, three times for governor and twice for U. S. President, the towns pig farms, rendering plants, and junk yards gave the town a reputation for being one of the most odorous in the New York metropolitan area. In the 1950s the pig began to dwindle, partially due to construction on the New Jersey Turnpike. In 1963, debris from the demolition of Pennsylvania Station was dumped in the Secaucus Meadowlands, in later decades Secaucus became more of a commuter town. In a non-binding referendum in 1969, 90% of voters in Secaucus chose to leave Hudson County and join Bergen County, however, only the state has the authority to change county lines, so it never came to fruition. Today it remains the most suburban town in Hudson County, New Jersey Monthly magazine ranked Secaucus as its 182nd best place to live in its 2010 rankings of the Best Places To Live in New Jersey, after ranking the borough 11th in its 2008 rankings. According to the United States Census Bureau, the town had an area of 6.599 square miles. At the southern end of Secaucus is Snake Hill, an igneous rock intrusion jutting up some 150 feet from the Meadowlands below. Being partly surrounded by the Hackensack Meadowlands, Secaucus provides opportunities to observe the recovery of natural marshes in the towns post industrial, the Hackensack River and its tributary Mill Creek create the other borders for the district. The North End is one of the older, traditional residential neighborhoods of Secaucus which itself has been transformed to a town and retail. It is home to Secaucus High School, whose fields are used by the Bergen County Scholastic League. Nearby Schmiddts Wood is one of the last original hardwood forests in urban North Jersey, as part of the New Jersey Meadowlands District, the areas along the river are characterized by wetlands preservation and restoration areas
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Doyald Young
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Doyald Young was an American typeface designer and teacher who specialized in the design of logotypes, corporate alphabets, lettering and typefaces. The typefaces designed by Doyald Young include Young Baroque, ITC Éclat, Home Run, with Don Bartels, designed the font for General Electric Company’s corporate identity program. His life story and working method is profiled in the Lynda. com Creative Inspirations video Doyald Young and his entertainment credits include, Liza Minnelli and Frank Sinatra specials, Disney’s 30th Anniversary Celebration, Harry Connick Jr. k. d. Young was a teacher at Art Center College of Design, where he taught lettering, logo design, and typographic basics from 1955 to 1978 and his book Fonts and Logos was awarded a Silver Medal by the Western Art Directors Club, November 2000. In 2001 Art Center College of Design named him Inaugural Master of the School for teaching and his contribution to the field of art, in 2009 AIGA awarded him the prestigious AIGA Medal for his contributions to the field of graphic design. On December 18,2010 Art Center College of Design bestowed on him an honorary Doctorate of Humane Letters, Young died on February 28,2011 following complications from cardiac surgery
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Century type family
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Century is a family of serif type faces particularly intended for body text. The family originates from a first design, Century Roman cut by American Type Founders designer Linn Boyd Benton in 1894 for master printer Theodore Low De Vinne, ATF rapidly expanded it into a very large family, first by Linn Boyd and later by his son Morris. Its design emphasises crispness and elegance, with ending in fine tapers, ball terminals and crisp. However, compared to many earlier typefaces in the genre, stroke contrast is low, creating a less sharp. With ATF no longer operating, a variety of variants and revivals with varying features. Despite originating in the century, use of the typeface remains strong for periodicals, textbooks. The Supreme Court of the United States requires that briefs be typeset in Century family type, according to Charles Shaw, The rugged simplicity of the Century family of types has made it an enduring favorite of American typographers for almost one hundred years. Beginning as foundry type, Century has withstood a series of transformations into Linotype, Monotype, Ludlow, phototype, transfer type, digital type. Characteristics of this typeface are, lower case, curl ending in a terminal on top of letter c. Ball terminal on hook of f, ear of g, and tail of j. upper case, curled tail on the capital R and reflexive curled tail on the capital Q. Prominent top spur on capital C. figures, curl ending in a terminal on both tails of 3, and on single tail of 2,5,6 and 9. Theodore Low De Vinne, publisher of the Century Magazine, wanted a more legible font for his magazine and he commissioned his friend Linn Boyd Benton from the newly formed American Type Founders to devise such a face. Over the course of the century, largely because of the influence of Bodoni, common printing fonts had become thin. De Vinne and aesthete William Morris decried this “growing effeminacy” and called for a reversion to blacker faces and this was made only in foundry type and later an accompanying face of normal width was produced by L. B. Benton, called variously Century Broad Face or Century No.2, despite being the original member of the Century family, it is not popular compared to the later members of the family with more normal proportions. Following this, he was given the task of adapting Century No.2 to meet the Typographical Union standards of the time. Records now in the Smithsonian show that M. F. Benton not only re-designed his fathers face, the result was Century Expanded, which proved hugely successful. Catalog no longer offered the original Century Roman, while displaying 64 pages of samples of other members of the Century family, the faces were issued over a period of ten years, all of which were designed by Benton and issued by A. T. F
35.
Supreme Court of the United States
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The Supreme Court of the United States is the highest federal court of the United States. In the legal system of the United States, the Supreme Court is the interpreter of federal constitutional law. The Court normally consists of the Chief Justice of the United States and eight justices who are nominated by the President. Once appointed, justices have life tenure unless they resign, retire, in modern discourse, the justices are often categorized as having conservative, moderate, or liberal philosophies of law and of judicial interpretation. Each justice has one vote, and while many cases are decided unanimously, the Court meets in the United States Supreme Court Building in Washington, D. C. The Supreme Court is sometimes referred to as SCOTUS, in analogy to other acronyms such as POTUS. The ratification of the United States Constitution established the Supreme Court in 1789 and its powers are detailed in Article Three of the Constitution. The Supreme Court is the court specifically established by the Constitution. The Court first convened on February 2,1790, by which five of its six initial positions had been filled. According to historian Fergus Bordewich, in its first session, he Supreme Court convened for the first time at the Royal Exchange Building on Broad Street and they had no cases to consider. After a week of inactivity, they adjourned until September, the sixth member was not confirmed until May 12,1790. Because the full Court had only six members, every decision that it made by a majority was made by two-thirds. However, Congress has always allowed less than the Courts full membership to make decisions, under Chief Justices Jay, Rutledge, and Ellsworth, the Court heard few cases, its first decision was West v. Barnes, a case involving a procedural issue. The Courts power and prestige grew substantially during the Marshall Court, the Marshall Court also ended the practice of each justice issuing his opinion seriatim, a remnant of British tradition, and instead issuing a single majority opinion. Also during Marshalls tenure, although beyond the Courts control, the impeachment, the Taney Court made several important rulings, such as Sheldon v. Nevertheless, it is primarily remembered for its ruling in Dred Scott v. Sandford, which helped precipitate the Civil War. In the Reconstruction era, the Chase, Waite, and Fuller Courts interpreted the new Civil War amendments to the Constitution, during World War II, the Court continued to favor government power, upholding the internment of Japanese citizens and the mandatory pledge of allegiance. Nevertheless, Gobitis was soon repudiated, and the Steel Seizure Case restricted the pro-government trend, the Warren Court dramatically expanded the force of Constitutional civil liberties. It held that segregation in public schools violates equal protection and that traditional legislative district boundaries violated the right to vote
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Louis Brandeis
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Louis Dembitz Brandeis was an American lawyer and associate justice on the Supreme Court of the United States from 1916 to 1939. He was born in Louisville, Kentucky, to Jewish immigrant parents from Bohemia and he attended Harvard Law School, graduating at the age of twenty with the highest grade average in the law schools history. Brandeis settled in Boston, where he founded a law firm and he later published a book titled Other Peoples Money And How the Bankers Use It, suggesting ways of curbing the power of large banks and money trusts. He fought against powerful corporations, monopolies, public corruption, and mass consumerism, all of which he felt were detrimental to American values and culture. He also became active in the Zionist movement, seeing it as a solution to antisemitism in Europe and Russia, when his familys finances became secure, he began devoting most of his time to public causes and was later dubbed the Peoples Lawyer. He insisted on serving on cases without pay so that he would be free to address the issues involved. The Economist magazine calls him A Robin Hood of the law, in 1916, President Woodrow Wilson nominated Brandeis to become a member of the Supreme Court. His nomination was contested, partly because, as Justice William O. Douglas wrote. He was dangerous not only because of his brilliance, his arithmetic and he was dangerous because he was incorruptible. The fears of the Establishment were greater because Brandeis was the first Jew to be named to the Court. On June 1,1916 he was confirmed by the Senate by a vote of 47 to 22, to one of the most famous. His opinions were, according to scholars, some of the greatest defenses of freedom of speech. Louis Dembitz Brandeis was born on November 13,1856, in Louisville, Kentucky and his parents, Adolph Brandeis and Frederika Dembitz, both of whom were Ashkenazi Jews, emigrated to the United States from their childhood homes in Prague, Bohemia. They emigrated as part of their families for both economic and political reasons. In addition, the Habsburg Empire had imposed taxes on Jews. Family elders sent Adolph Brandeis to America to observe and prepare for his familys possible emigration and he spent a few months in the Midwest and was impressed by the nations institutions and by the tolerance among the people he met. He wrote home to his wife, Americas progress is the triumph of the rights of man, the Brandeis family chose to settle in Louisville partly because it was a prosperous river port. His earliest childhood was shaped by the American Civil War, which forced the family to seek safety temporarily in Indiana, the Brandeis family held abolitionist beliefs that angered their Louisville neighbors
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United States Department of Homeland Security
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Its stated missions involve anti-terrorism, border security, immigration and customs, cyber security, and disaster prevention and management. It was created in response to the September 11 attacks, in fiscal year 2017, it was allocated a net discretionary budget of $40.6 billion. With more than 240,000 employees, DHS is the third largest Cabinet department, after the Departments of Defense, Homeland security policy is coordinated at the White House by the Homeland Security Council. Other agencies with significant homeland security responsibilities include the Departments of Health and Human Services, Justice and its stated goal is to prepare for, prevent, and respond to domestic emergencies, particularly terrorism. On March 1,2003, DHS absorbed the Immigration and Naturalization Service, in doing so, it divided the enforcement and services functions into two separate and new agencies, Immigration and Customs Enforcement and Citizenship and Immigration Services. The investigative divisions and intelligence gathering units of the INS and Customs Service were merged forming Homeland Security Investigations, additionally, the border enforcement functions of the INS, including the U. S. Border Patrol, the U. S. Customs Service, the Federal Protective Service falls under the National Protection and Programs Directorate. The Department of Homeland Security is headed by the Secretary of Homeland Security with the assistance of the Deputy Secretary, the Department contains the components listed below. Agencies, United States Citizenship and Immigration Services, Processes and examines citizenship, residency, U. S. Immigration and Customs Enforcement, Law enforcement agency divided into two bureaus, An agency that enforces U. S. It also investigates crimes against the U. S. monetary system including the crime of counterfeiting U. S. currency, Federal Emergency Management Agency, agency that oversees the federal governments response to natural disasters like earthquakes, hurricanes, tornadoes, floods, forest fires, etc. National Protection and Programs Directorate, risk-reduction, encompassing both physical and virtual threats and their associated human elements, Federal Protective Service, Federal law enforcement and security agency that protects and investigates crimes against U. S. federal buildings, properties, assets, and federal government interests. National Cybersecurity Center In an August 5,2002 speech, President Bush said, to secure freedom in the homeland. Prior to the creation of DHS, American presidents had referred to the U. S. as the nation or the republic, also unprecedented was the use, from 2002, of the phrase the homeland by White House spokespeople. In 2011 the Department of Homeland Security phased out the old Homeland Security Advisory System with a two-level National Terrorism Advisory System, the system has two types of advisories, Alerts and Bulletins. Alerts are issued when there is specific and credible information of a terrorist threat against the United States, Alerts themselves have two levels, Elevated and Imminent. An Elevated Alert is issued when there is information about an attack. An Imminent Alert is issued when the threat is very specific, many procedures at government facilities are tied in to the alert level, for example a facility may search all entering vehicles when the alert is above a certain level. After resigning, Tom Ridge stated that he did not always agree with the threat level adjustments pushed by other government agencies
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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
39.
Fox Business Network
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Fox Business Network, also known as Fox Business, is an American cable and satellite business news television channel that is owned by the Fox Entertainment Group division of 21st Century Fox. The network discusses business and financial news, day-to-day operations are run by Kevin Magee, executive vice president of Fox News, Neil Cavuto manages content and business news coverage. As of February 2015, Fox Business Network is available to approximately 74,224,000 pay television households in the United States, News Corporation chairman Rupert Murdoch confirmed the launch at his keynote address at the 2007 McGraw-Hill Media Summit on February 8,2007. However, on July 11,2007, News Corporation announced that the new channel would be called Fox Business Network and this name Fox Business Network was chosen over Fox Business Channel due to the pre-existing legal abbreviation of FBC for the then-News Corporation-owned broadcast network Fox Broadcasting Company. The channel launched on October 15,2007, the network is placed on channel 43 in the New York City market, which is home to the NYSE and NASDAQ stock exchanges. It is paired with sister network Fox News Channel, which moved to channel 44, FBN received carriage on Cablevision channel 106, only available via subscription to its IO Digital Cable package. However, it is important to note that FBN is carried on Time Warner Cable only on its service in New York City, in other markets. Verizons FiOS TV also carries the network on its premier lineup, dish Network began carrying FBN on channel 206 on February 2,2009. FBN also received carriage on DirecTV channel 359, on May 12,2008, Fox Business Network revamped its daytime lineup, which included the debut of two new programs, Countdown to the Closing Bell and Fox Business Bulls & Bears. All six of those shows shared the same set in Studio G, the network also debuted new graphics on the same day. On May 29,2015, Imus in the Morning ended after a 5-1/2 year run, as Don Imus retired from television, best of Imus in the Morning, which aired from 5-6 a. m. ET, was replaced with a new early-morning business program, FBN AM, Varney & Company was moved up to the 9,00 a. m. ET time slot and also, was expanded to 3 hours from 9,00 a. m. to noon ET. FBN AM and Mornings with Maria were among the four new programs debuted on June 1, with Cavuto, Coast to Coast. The debate also delivered 1.4 million concurrent streams, making it the most livestreaming primary debate in history, Fox Business Network hosted its second Republican primary debate on January 14,2016 in Charleston, South Carolina with Neil Cavuto and Maria Bartiromo serving as moderators. Both of these primetime debates also included earlier debates featuring presidential candidates who were not ranked as highly in the polls as well as those based in Iowa or New Hampshire. The high definition simulcast of Fox Business Network is broadcast in the 720p resolution format, the sidebar graphic was dropped as a result of the networks switch to a 16,9 letterbox format on September 17,2012, ending the enhanced HD format altogether. The enhanced ticker and headlines, which were seen in the old sidebar graphic, were moved to the lower-third of the screen. Both the SD and HD feeds now use the same exact 16,9 letterbox format, before the network premiered, few specific facts were made public as to the type of programming approach Fox Business would be taking
US$ 54.161 billion[1] (2014)
