Atlantia S.p. A. is an Italian holding company operating toll airports. It is a leading company in the world, active in the motorway, airport infrastructure and transport services sector, with an extensive presence in 16 countries; the group manages 14,000 kilometers of toll motorways and Ciampino airports in Italy and the three airstrips of Nice, Cannes-Mandelieu and Saint Tropez in France with more than 60 million passengers a year. It is a constituent of the FTSE MIB index; the main shareholders are: Edizione, GIC Pte Ltd, the CRT Foundation, Lazard Asset Management, HSBC Holdings. Founded in 1950 as Autostrade, when the company Concessioni e Autostrade S.p. A. was created, it aimed to give a significant contribution, cooperating with other Groups, to the post-war reconstruction of Italy. By the first agreement between ANAS signed in 1956, the companies were committed in co-financing and managing the Autostrada Del Sole, between Milan and Naples, inaugurated in 1964. Between 1962 and 1968, the Company was granted the concession for the construction and operation of other motorways.
In 1982 it was acquired by Italstat and in 1987 Autostrade Concessioni e Costruzioni S.p. A. was listed on Borsa Valori of Milan. In 1999 the Autostrade company was privatized; the consortium led by Schemaventotto S.p. A. and another one pulled by the Australian bank Macquarie, who retreated at last, were the other groups in the line. With the 30% of the capital, Schermaventotto S.p. A. takes over the IRI Group, the reference shareholder. They did the only binding purchase offer for the share package paying IRI € 5,050 billion. In January 2003 Newco28 made a tender offer, through a leveraged buyout operation: they found the liquidity necessary for the acquisition using the system credit and the debt was transferred from Newco28 to Autostrade, following a merger by incorporation. 2003 was marked by a massive reorganization of the group, the concession activities were separated from non-motorway activities and Autostrade per l'Italia S.p. A. A subsidiary of Autostrade, was established. During the 2005 a process of geographical diversification began with the acquisition of the management of 2,000 km of toll motorways in Brazil, Chile and Poland.
In 2007, the Board of Directors approved the change of name into Atlantia S.p. A. In 2013, the merger by incorporation of Gemina S.p. A. the majority shareholder of ADR into Atlantia, was concluded, with the consequent aggregation of a second core business in addition to the motorway concessions. Atlantia’s acquisition of Aéroports de la Côte d’Azur, the company that controls the airports of Nice, Cannes-Mandelieu and Saint Tropez, consolidated the Group’s presence in the airport sector. During the summer of 2017 Atlantia declared the intention to make a tender offer on all the issued shares of Abertis Infraestructuras, in October 2017 the Comision Nacional del Mercado de Valores authorized this. Just over a week the Hochtief – Acs Group launched a bid against the tender offer to acquire the Spanish company. In March 2018 Atlantia and Hochtief-Acs reached an agreement for a joint offer for the control of Abertis, finalized in October 2018. To acquire 98.7% of the capital of Abertis the parties invested 16,5 billion euros.
In March 2018 Atlantia S.p. A bought 15,49 % of the company that controls the Channel Tunnel. Edizione: 30,25% GIC Private Limited: 8,14% Fondazione Cassa di Risparmio di Torino: 5,06% Lazard Asset Management 5,02% HSBC: 4,96% Personal shares issue: 0,95% Free float: 45,63%Source: Consob, 31 December 2018 Autostrade per l'Italia S.p. A. Abertis Infraestructuras SA Aeroporti di Roma - ADR S.p. A. SPEA Engineering S.p. A. Pavimental S.p. A. Telepass S.p. A. Hochtief - Essen - 23,9% Getlink - Paris - 15,49% In 2016 the revenue reached 5,4 billion euros, Ebitda of 3,3 billion and cash flow 2,4 billion. Capitalization was 18,4 billion. In 2017, the group’s revenues reached 5,97 billion euros with an increase of 9%, Ebitda 3,6 billion euros, profit 1,1 billion. Cash flow capitalization of 21,7 billion. Toll revenues increased by 5% to 4.19 billion. In 2018, the group’s revenues reached 11 billion euros, Ebitda of 7,3 billion euros and net income of 818 million. Official website
Technology is the collection of techniques, skills and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques and the like, or it can be embedded in machines to allow for operation without detailed knowledge of their workings. Systems applying technology by taking an input, changing it according to the system's use, producing an outcome are referred to as technology systems or technological systems; the simplest form of technology is the use of basic tools. The prehistoric discovery of how to control fire and the Neolithic Revolution increased the available sources of food, the invention of the wheel helped humans to travel in and control their environment. Developments in historic times, including the printing press, the telephone, the Internet, have lessened physical barriers to communication and allowed humans to interact on a global scale. Technology has many effects, it has allowed the rise of a leisure class.
Many technological processes produce unwanted by-products known as pollution and deplete natural resources to the detriment of Earth's environment. Innovations have always influenced the values of a society and raised new questions in the ethics of technology. Examples include the rise of the notion of efficiency in terms of human productivity, the challenges of bioethics. Philosophical debates have arisen over the use of technology, with disagreements over whether technology improves the human condition or worsens it. Neo-Luddism, anarcho-primitivism, similar reactionary movements criticize the pervasiveness of technology, arguing that it harms the environment and alienates people; the use of the term "technology" has changed over the last 200 years. Before the 20th century, the term was uncommon in English, it was used either to refer to the description or study of the useful arts or to allude to technical education, as in the Massachusetts Institute of Technology; the term "technology" rose to prominence in the 20th century in connection with the Second Industrial Revolution.
The term's meanings changed in the early 20th century when American social scientists, beginning with Thorstein Veblen, translated ideas from the German concept of Technik into "technology." In German and other European languages, a distinction exists between technik and technologie, absent in English, which translates both terms as "technology." By the 1930s, "technology" referred not only to the study of the industrial arts but to the industrial arts themselves. In 1937, the American sociologist Read Bain wrote that "technology includes all tools, utensils, instruments, clothing and transporting devices and the skills by which we produce and use them." Bain's definition remains common among scholars today social scientists. Scientists and engineers prefer to define technology as applied science, rather than as the things that people make and use. More scholars have borrowed from European philosophers of "technique" to extend the meaning of technology to various forms of instrumental reason, as in Foucault's work on technologies of the self.
Dictionaries and scholars have offered a variety of definitions. The Merriam-Webster Learner's Dictionary offers a definition of the term: "the use of science in industry, etc. to invent useful things or to solve problems" and "a machine, piece of equipment, etc., created by technology." Ursula Franklin, in her 1989 "Real World of Technology" lecture, gave another definition of the concept. The term is used to imply a specific field of technology, or to refer to high technology or just consumer electronics, rather than technology as a whole. Bernard Stiegler, in Technics and Time, 1, defines technology in two ways: as "the pursuit of life by means other than life," and as "organized inorganic matter."Technology can be most broadly defined as the entities, both material and immaterial, created by the application of mental and physical effort in order to achieve some value. In this usage, technology refers to tools and machines that may be used to solve real-world problems, it is a far-reaching term that may include simple tools, such as a crowbar or wooden spoon, or more complex machines, such as a space station or particle accelerator.
Tools and machines need not be material. W. Brian Arthur defines technology in a broad way as "a means to fulfill a human purpose."The word "technology" can be used to refer to a collection of techniques. In this context, it is the current state of humanity's knowledge of how to combine resources to produce desired products, to solve problems, fulfill needs, or satisfy wants; when combined with another term, such as "medical technology" or "space technology," it refers to the state of the respective field's knowledge and tools. "State-of-the-art technology" refers to the high technology available to humanity in any field. Technology can be viewed as an activity that changes culture. Additionally, technology is the application of math, science, an
Salvatore Ferragamo S.p.A.
Salvatore Ferragamo S.p. A. is an Italian luxury goods company, with headquarters in Italy. It specializes in shoes, leather goods, Swiss-made timepieces, ready-to-wear for men and women; the company watches. It is the parent company of the Ferragamo Group which employs about 4,000 persons and maintains a network of over 685 mono-brand stores, it runs operations in Italy and worldwide. Salvatore Ferragamo emigrated from southern Italy to the US, first to Boston and California in 1914, he opened the Hollywood Boot Shop in 1923 and made shoes for movie stars such as Joan Crawford and Gloria Swanson, as well as for films such as Cecil B. DeMille's feature film The Ten Commandments, he returned to Italy and set up a shoe shop in Florence in 1927. The current shoemaking company regards 1928 as the date of its foundation, it therefore celebrated its 80th anniversary in 2008. Salvatore Ferragamo filed for bankruptcy in 1933, during the Great Depression, but by 1938 he was in a position to buy the Palazzo Spini Feroni, one of the great palaces of Florence.
This houses a museum dedicated to Ferragamo's life and work. The company flourished after World War II, expanding the workforce to 700 craftsmen producing 350 pairs of handmade shoes a day. After Salvatore's death in 1960, his widow Wanda took over the running of the business and expanded its operations to include eyewear, belts, bags, a ready to wear clothing line; the company's majority owners remain the Ferragamo family, which in November 2006 included Salvatore's widow Wanda, five children, 23 grandchildren and other relatives. There is a rule that only three members of the family can work at the company, prompting fierce competition. To ease these tensions, in September 2006, the family announced a plan to float 48% of the company on the stock market, since October 2006 Michele Norsa has served as managing and general director. However, as of January 2008, this plan may be on put on hold in the midst of the downturn in the financial market. If the listing on the stock market proceeds, the fund will be directed towards building its positions in China.
The company is holding its 80th birthday exhibition in Shanghai. In 2011 the company was listed on the stock exchange; as of December 31, 2016, the Salvatore Ferragamo Group's retail network consisted of 402 directly operated stores, while the wholesale and travel retail channel included 281 third party operated stores, as well as presence in major department stores and high-end multi-brand specialty stores. As of 31 December 2017, the Group's Retail network counted on a total of 685 points of sales, including 410 Directly Operated Stores and 275 Third Party Operated Stores; as of 31 December 2018, the Group's Retail network counted on a total of 672 points of sales,including 409 Directly Operated Stores and 263 Third Party Operated Stores. On August 2, 2016 Eraldo Poletto was appointed as new CEO of the group. On March 8, 2017 conclusion of the relation with Poletto granted interim management powers to the Chairman, Ferruccio Ferragamo. On July 31, 2018 Micaela le Divelec is appointed as new CEO of the group.
Throughout its history, the company has been known for use of materials. Such ingenuity goes back to Salvatore's time in California, when he studied anatomy to make shoes which were more comfortable. Notable innovations include the wedge heel, the shell-shaped sole, the ‘invisible’ sandal, metal heels and soles, the 18-carat gold sandal, the sock-shoe, sculpture heels, the gloved arch shoe created for the Maharani of Cooch Behar in 1938. Metal-reinforced stiletto heels were made famous by Marilyn Monroe; the company is known for the ‘Gancini’ decoration, the ‘Vara’ patent ballet pump, the Salvatore bag and the use of patchwork. It makes eyewear and watches in partnership with Marchon and Timex Group. Salvatore worked with film celebrities from his earliest days in Hollywood. Clients over the years included Audrey Hepburn, Sophia Loren and Greta Garbo, as well as Andy Warhol, Lil Uzi Vert, Grace Mugabe and Diana, Princess of Wales; the company made Margaret Thatcher's famous handbags and for King Jigme Khesar Namgyal Wangchuck during the coronation on November 6, 2008 in Thimpu, Bhutan.
Wanda Ferragamo Miletti: has led the group since 1960, when her husband and founder of the company, died. She was Honorary Chairwoman until her death. Ferruccio Ferragamo: Chairman of the Company. Micaela Le Divelec Lemmi: CEO of Salvatore Ferragamo S.p. A. Giovanna Gentile Ferragamo: serves on the Boards of Directors of Salvatore Ferragamo S.p. A. Leonardo Ferragamo: since 2000, he has served as CEO of Palazzo Feroni Finanziaria S.p. A, the family’s holding company. Executive Vice President of Fondazione Ferragamo Massimo Ferragamo: he is Chairman of Ferragamo USA, the Ferragamo company that has handled the brand’s distribution in North America since the 1950s. James Ferragamo: is Vice-Chairman and Brand and Product Director of the Company Angelica Visconti: South Europe Director Diego di San Giuliano: Vice Chairman of the group’s holding company Ferragamo Finanziaria S.p. A.. November 2016 a new structure of the creative departements of the group with the entrance of Paul Andrew named Design Director of Women's Footwear, Fulvio Rigoni named Design director of Women's RTW, Guillame Meilland named Men's RTW Design director In October 2017 after the departure of Fulvio Rigoni, Paul Andrew is appointed Creative Director of the Women’s Collection.
In February 2019 Paul Andrew has been appointed Creative Director for all the Salvatore Ferragamo lines. Salvatore Ferragamo, the company's namesake and founder Official websi
Italy the Italian Republic, is a country in Southern Europe. Located in the middle of the Mediterranean Sea, Italy shares open land borders with France, Austria and the enclaved microstates San Marino and Vatican City. Italy covers an area of 301,340 km2 and has a temperate seasonal and Mediterranean climate. With around 61 million inhabitants, it is the fourth-most populous EU member state and the most populous country in Southern Europe. Due to its central geographic location in Southern Europe and the Mediterranean, Italy has been home to a myriad of peoples and cultures. In addition to the various ancient peoples dispersed throughout modern-day Italy, the most famous of which being the Indo-European Italics who gave the peninsula its name, beginning from the classical era and Carthaginians founded colonies in insular Italy and Genoa, Greeks established settlements in the so-called Magna Graecia, while Etruscans and Celts inhabited central and northern Italy respectively; the Italic tribe known as the Latins formed the Roman Kingdom in the 8th century BC, which became a republic with a government of the Senate and the People.
The Roman Republic conquered and assimilated its neighbours on the peninsula, in some cases through the establishment of federations, the Republic expanded and conquered parts of Europe, North Africa and the Middle East. By the first century BC, the Roman Empire emerged as the dominant power in the Mediterranean Basin and became the leading cultural and religious centre of Western civilisation, inaugurating the Pax Romana, a period of more than 200 years during which Italy's technology, economy and literature flourished. Italy remained the metropole of the Roman Empire; the legacy of the Roman Empire endured its fall and can be observed in the global distribution of culture, governments and the Latin script. During the Early Middle Ages, Italy endured sociopolitical collapse and barbarian invasions, but by the 11th century, numerous rival city-states and maritime republics in the northern and central regions of Italy, rose to great prosperity through shipping and banking, laying the groundwork for modern capitalism.
These independent statelets served as Europe's main trading hubs with Asia and the Near East enjoying a greater degree of democracy than the larger feudal monarchies that were consolidating throughout Europe. The Renaissance began in Italy and spread to the rest of Europe, bringing a renewed interest in humanism, science and art. Italian culture flourished, producing famous scholars and polymaths such as Michelangelo, Leonardo da Vinci, Raphael and Machiavelli. During the Middle Ages, Italian explorers such as Marco Polo, Christopher Columbus, Amerigo Vespucci, John Cabot and Giovanni da Verrazzano discovered new routes to the Far East and the New World, helping to usher in the European Age of Discovery. Italy's commercial and political power waned with the opening of trade routes that bypassed the Mediterranean. Centuries of infighting between the Italian city-states, such as the Italian Wars of the 15th and 16th centuries, left the region fragmented, it was subsequently conquered and further divided by European powers such as France and Austria.
By the mid-19th century, rising Italian nationalism and calls for independence from foreign control led to a period of revolutionary political upheaval. After centuries of foreign domination and political division, Italy was entirely unified in 1871, establishing the Kingdom of Italy as a great power. From the late 19th century to the early 20th century, Italy industrialised, namely in the north, acquired a colonial empire, while the south remained impoverished and excluded from industrialisation, fuelling a large and influential diaspora. Despite being one of the main victors in World War I, Italy entered a period of economic crisis and social turmoil, leading to the rise of a fascist dictatorship in 1922. Participation in World War II on the Axis side ended in military defeat, economic destruction and the Italian Civil War. Following the liberation of Italy and the rise of the resistance, the country abolished the monarchy, reinstated democracy, enjoyed a prolonged economic boom and, despite periods of sociopolitical turmoil became a developed country.
Today, Italy is considered to be one of the world's most culturally and economically advanced countries, with the sixth-largest worldwide national wealth. Its advanced economy ranks eighth-largest in the world and third in the Eurozone by nominal GDP. Italy owns the third-largest central bank gold reserve, it has a high level of human development, it stands among the top countries for life expectancy. The country plays a prominent role in regional and global economic, military and diplomatic affairs. Italy is a founding and leading member of the European Union and a member of numerous international institutions, including the UN, NATO, the OECD, the OSCE, the WTO, the G7, the G20, the Union for the Mediterranean, the Council of Europe, Uniting for Consensus, the Schengen Area and many more; as a reflection
Electric power transmission
Electric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical substation. The interconnected lines which facilitate this movement are known as a transmission network; this is distinct from the local wiring between high-voltage substations and customers, referred to as electric power distribution. The combined transmission and distribution network is known as the "power grid" in North America, or just "the grid". In the United Kingdom, Myanmar and New Zealand, the network is known as the "National Grid". A wide area synchronous grid known as an "interconnection" in North America, directly connects a large number of generators delivering AC power with the same relative frequency to a large number of consumers. For example, there are four major interconnections in North America. In Europe one large grid connects most of continental Europe. Transmission and distribution lines were owned by the same company, but starting in the 1990s, many countries have liberalized the regulation of the electricity market in ways that have led to the separation of the electricity transmission business from the distribution business.
Most transmission lines are high-voltage three-phase alternating current, although single phase AC is sometimes used in railway electrification systems. High-voltage direct-current technology is used for greater efficiency over long distances. HVDC technology is used in submarine power cables, in the interchange of power between grids that are not mutually synchronized. HVDC links are used to stabilize large power distribution networks where sudden new loads, or blackouts, in one part of a network can result in synchronization problems and cascading failures. Electricity is transmitted at high voltages to reduce the energy loss which occurs in long-distance transmission. Power is transmitted through overhead power lines. Underground power transmission has a higher installation cost and greater operational limitations, but reduced maintenance costs. Underground transmission is sometimes used in environmentally sensitive locations. A lack of electrical energy storage facilities in transmission systems leads to a key limitation.
Electrical energy must be generated at the same rate. A sophisticated control system is required to ensure that the power generation closely matches the demand. If the demand for power exceeds supply, the imbalance can cause generation plant and transmission equipment to automatically disconnect or shut down to prevent damage. In the worst case, this may lead to a cascading series of a major regional blackout. Examples include the US Northeast blackouts of 1965, 1977, 2003, major blackouts in other US regions in 1996 and 2011. Electric transmission networks are interconnected into regional and continent wide networks to reduce the risk of such a failure by providing multiple redundant, alternative routes for power to flow should such shut downs occur. Transmission companies determine the maximum reliable capacity of each line to ensure that spare capacity is available in the event of a failure in another part of the network. High-voltage overhead conductors are not covered by insulation; the conductor material is nearly always an aluminum alloy, made into several strands and reinforced with steel strands.
Copper was sometimes used for overhead transmission, but aluminum is lighter, yields only marginally reduced performance and costs much less. Overhead conductors are a commodity supplied by several companies worldwide. Improved conductor material and shapes are used to allow increased capacity and modernize transmission circuits. Conductor sizes range from 12 mm2 with varying resistance and current-carrying capacity. For normal AC lines thicker wires would lead to a small increase in capacity due to the skin effect; because of this current limitation, multiple parallel cables are used when higher capacity is needed. Bundle conductors are used at high voltages to reduce energy loss caused by corona discharge. Today, transmission-level voltages are considered to be 110 kV and above. Lower voltages, such as 66 kV and 33 kV, are considered subtransmission voltages, but are used on long lines with light loads. Voltages less than 33 kV are used for distribution. Voltages above 765 kV are considered extra high voltage and require different designs compared to equipment used at lower voltages.
Since overhead transmission wires depend on air for insulation, the design of these lines requires minimum clearances to be observed to maintain safety. Adverse weather conditions, such as high wind and low temperatures, can lead to power outages. Wind speeds as low as 23 knots can permit conductors to encroach operating clearances, resulting in a flashover and loss of supply. Oscillatory motion of the physical line can be termed gallop or flutter depending on the frequency and amplitude of oscillation. Electric power can be transmitted by underground power cables instead of overhead power lines. Underground cables take up less right-of-way than overhead lines, have lower visibility, are less affected by bad weather. However, costs of insulated cable and excavation are much higher
Intesa Sanpaolo S.p. A. is an Italian banking group resulting from the merger of Banca Intesa and Sanpaolo IMI based in Torre Intesa Sanpaolo, Italy. In 2014 it was the largest banking group in Italy by market capitalization, second by total assets; the bank has experienced growth in the international market, focused in Central-Eastern Europe, the Middle East and North Africa. When it was formed in 2007 it overtook Unicredit Group as the largest bank in Italy with 13 million customers and US$690 billion worth of assets. By 2010 its assets had grown to US$877.66 billion, ranking 26th in Forbes Global 2000. The company is a component of the Euro Stoxx 50 stock market index. In August 2018, Intesa Sanpaolo launched. Banca Intesa and Sanpaolo IMI, the two banks that merged in 2007 to create Intesa Sanpaolo, were themselves the product of many mergers. Cariplo and Banco Ambrosiano Veneto merged in 1998 to form Banca Intesa; the following year Banca Commerciale Italiana joined the group. Sanpaolo IMI was born in 1998 following the merger of Istituto Bancario San Paolo di Torino, which specialized in retail banking, IMI, an investment bank.
The oldest part of the banking group is Cariplo Sp. A.. which traces its roots to Austrian Empire household savings bank Cassa di Risparmio delle Provincie Lombarde, established in 1823 in Milan. The cassa di risparmio was started by an Italian philanthropic group, the Central Committee of Charity. In the early 20th century the bank helped Italian companies in the North obtain capital during and after World Wars 1 and 2, chiefly under the guidance of Giordano Dell'Amore. Banking reforms in 1990 started by Giuliano Amato led to the restructuring/reorganization of banks by forcing the government to relinquish control of them. Cariplo SpA was formed in 1991 when Cassa di Risparmio delle Provincie Lombarde merged with its subsidiary IBI. Banco Ambrosiano Veneto originated with Nuovo Banco Ambrosiano and Banca Cattolica del Veneto which merged in 1989; the bank increased in size during the 1990s due to numerous acquisitions. Banca Commerciale Italiana started in 1894 as a corporate loans lender operating in the commercial industry of Northern Italy.
In 1994 Mediobanca purchased an interest in BCI. BCI tried to acquire Banco Ambrosiano Veneto the same year but was spurned by shareholders who wouldn't accept the US$1.13 billion offer. In 1999 Italy's largest bank Unicredit Group at the time, attempted a hostile takeover of BCI but failed due to Mediobanca's interest in the company BCI merged with the former Banca Ambrosiano and Cariplo in 1998 to form a financial institution renamed Banca Intesa in 2003. Sanpaolo IMI was formed in 1998 when Istituto Bancario San Paolo di Torino and Istituto Mobiliare Italiano merged, in a US 37.8 billion dollar deal. In January 2007, Banca Intesa and Sanpaolo IMI, two of the three largest bank of Italy merged; as part of the authorization of the merger, the Italian Competition Authority forbid Intesa Sanpaolo to open any new branches for two years in the provinces of Udine and Gorizia, provinces of Rovigo and Padua, Aosta Valley, provinces of Biella and Alessandria, Province of Bolzano, Province of Bologna, Province of Pavia, Province of Naples, Province of Imperia, provinces of Sassari and Cagliari, Province of Rieti, province of Terni, Province of Pesaro-Urbino, Province of Pescara and Province of Catanzaro.
The French banking group Crédit Agricole started to spin off from Intesa Sanpaolo, by acquiring Cariparma, FriulAdria in 2007 and Carispezia in 2011, as well as branches from Intesa Sanpaolo. In 2012, Crédit Agricole sold all the shares of Intesa Sanpaolo. In December 2007, Cassa di Risparmio di Biella e Vercelli was sold to Banca Monte dei Paschi di Siena for €399 million. In 2008, Intesa Sanpaolo acquired Banca CR Firenze. In December 2008, Cassa di Risparmio di Fano was sold to Credito Valtellinese. In 2009, group acquisitions included a 30% interest in business info company MF Honyvem, an increased stake in Alitalia – Compagnia Aerea Italiana up to 33.3% Even though the bank was rumoured to have been working with the government to keep Air France from acquiring a stake in Alitalia, Air France acquired 25%. Alitalia – Compagnia Aerea Italiana sold part of its stake in the airline to Etihad Airways in 2015. From 2012 to 2013, Intesa Sanpaolo write down the value of investment in Banca delle Marche for a total of €90 million, as well as €26 million for a minority stake in Cassa di Risparmio della Provincia di Chieti in 2014.
The shareholders of the banks was bail-in in the rescue plan in 2015. In 2014, Cassa di Risparmio di Venezia and Banca di Credito Sardo were absorbed into Intesa Sanpaolo; the 2014–17 business plan of the bank stated that the banking group would simplified their legal structure. In 2015, local banks Banca Monte Parma, Banca di Trento e Bolzano, Cassa di Risparmio di Civitavecchia, Cassa di Risparmio di Rieti and Cassa d
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 numbers or a combination of both. "Ticker symbol" refers to the symbols. Stock symbols are unique identifiers assigned to each security traded on a particular market. A stock symbol can consist of letters, numbers, or a combination of both, 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, to make it easy to recognize by traders and investors. The allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are between 1 and 4 letters and represent the company name where possible. For example, US-based computer company stock Apple Inc. traded on the NASDAQ exchange has the symbol AAPL, while the motor company Ford's stock, traded on the New York Stock Exchange has the single-letter ticker F.
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 used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBC's 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 phonetic 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 sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V, used by Vivendi which had delisted and given up the symbol. To 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 done by appending the location or exchange code to the ticker.
Although stock tickers identify a security, they are exchange dependent 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 ISO 6166. Securities for which ISINs are issued include bonds, commercial paper and warrants; the ISIN code is a 12-character alpha-numerical code that does not contain information characterizing financial instruments, but serves for uniform identification of a security at trading and settlement. The ISIN identifies not the exchange on which it trades. For instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, is priced in five different currencies. ISIN cannot specify a particular trade in this case, another identifier the three- or four-letter exchange code will have to be specified in addition to the ISIN.
While a stock ticker identifies a security that can be traded, stock market indices are sometimes assigned a symbol though they can not be traded. Symbols for indices are distinguished by adding a symbol in front of the name, such as a caret or a dot. For example, Reuters lists the Nasdaq Composite index under the symbol. IXIC. In Canada the Toronto Stock Exchange TSX and the TSXV use the following special codes after the ticker symbol: In the United Kingdom, prior to 1996, stock codes were known as EPICs, named after the London Stock Exchange's Exchange Price Information Computer. Following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still referred to as EPICs. Stocks can be identified using their SEDOL number or their ISIN. In the United States, modern letter-only ticker symbols were developed by Standard & Poor's to bring a national standard to investing. A single company could have many different ticker symbols as they varied between the dozens of individual stock markets.
The term ticker refers to the noise made by the ticker tape machines once used by stock exchanges. The S&P system was standardized by the securities industry and modified as years passed. Stock symbols for preferred stock have not been standardized; some companies use a well-known product as their ticker symbol. Belgian brewer InBev, the brewer of Budweiser beer, uses "BUD" as its three-letter ticker for American Depository Receipts, symbolizing its premier product in the United States, its rival, Molson Coors Brewing Company, uses a beer-related symbol, "TAP". Southwest Airlines pays tribute to its headquarters at Love Field in Dallas through its "LUV" symbol. Cedar Fair Entertainment Company, which operates large amusement parks in the United States, uses "FUN" as its symbol. Harley-Davidson uses "HOG" for its Harley Owners Group. Yamana Gold uses "AUY", because on the periodic table of elements. Sotheby's uses the symbol "BID". While most symbols come from the company's name, sometimes it happens the other way around.
Tricon Global, owner of KFC, Pi