Exor N. V. is an Italian leading holding company, incorporated in the Netherlands and controlled by the Italian Agnelli family. It has a capitalization of nearly $24 billion USD, with a history of investments running over a century, its principal investments include Fiat Chrysler Automobiles, PartnerRe, Ferrari, CNH Industrial and The Economist. It is the 19th largest group in the world, according to the 2017 Fortune Global 500 List. Declared shareholdings as of 2017: Main Exor N. V. shareholders as of 31 december 2017: In 1957, IFI acquired control of Istituto Commerciale Laniero Italiano, which conducted activities in the financial field in the textile and wool sector. In 1963 it extended its operations to the banking system and changed its name to Istituto Bancario Italiano Laniero. Three years having spun off the banking business to Banca Subalpina, the company became Istituto Finanziario Italiano Laniero, playing a parallel role to that of IFI and conducting similar investment management activities.
IFI gained holdings in numerous firms over the decades, including Unicem and 3M, many of which have since been divested. IFI listed preference shares on the Borsa Italiana in 1968. A reorganisation of the Agnelli family's holdings in 2008 led to the merger of IFI and IFIL to create Exor, the new name being taken from the French company which it acquired in 1991; the family firm Giovanni Agnelli B. V. owns 52.99% of the share capital. Exor is ranked 19th largest company by revenue according to the 2017 Fortune Global 500 lists. In 2016 Exor bought PartnerRe with a bid of $140 per share, it had offered $130 per share and in response Axis Re offered $120.31 per share in paper plus $11.50 in a pre-closing dividend. On August 12, 2015, the editor announced that Exor would purchase three-fifths of the Economist Group shares owned by Pearson PLC. Exor held shares in the Economist Group prior to this purchase; this was considered to be the "most important change to The Economist's shareholding structure in 90 years."
Pearson PLC which owned the Financial Times had had a non-controlling 50% stake in the Economist Group since 1928. The Economist Group will bought back the remained two-fifths of Pearson shares. On September 2, 2015 Exor closed the sale of Cushman & Wakefield to Chicago-based DTZ for $1,28 billion in net, generating a capital gain of $722 million for the holding company of Italy's Agnelli family. Board of Directors in charge as of December 2018: John Philip Elkann - chairman and chief executive officer Alessandro Nasi di Villapaciosa - vice chairman Andrea Agnelli - director Joseph Bae - director Melissa Bethell - director Marc Bolland - director Laurence Debroux - director Ginevra Elkann - director Annemiek Fentener Van Vlissingen - director Antonio Mota De Sousa Horta-Osorio - director Official website
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
Eni S.p. A. is an Italian multinational gas company headquartered in Rome. Considered one of the global supermajors, it has operations in 79 countries, is world's 11th largest industrial company with a market capitalization of 68 billion euros, as of August 14, 2013; the Italian government owns a 30.303% golden share in the company, 3.934% held through the state Treasury and 26.369% held through the Cassa Depositi e Prestiti. Another 2.012% of the shares are held by the People's Bank of China. The company is a component of the Euro Stoxx 50 stock market index; the name "ENI" was the acronym of "Ente Nazionale Idrocarburi". Through the years after its foundation however, it operated in a large number of fields including contracting, nuclear power, mining and plastics, refining/extraction and distribution machinery, hospitality industry and textile industry and news. Eni ranks among the top 100 on Fortune Global 500 list for largest companies by revenue. In 2016, the company holds a fall of 40 places from the previous year's 25th rank.
In terms of share capitalisation, Eni is ranked eighth in comparison with the principal companies operating in the same sector: Exxon, Chevron, Total, BP, ConocoPhillips, Anadarko and Marathon Oil. Eni was founded and established by law in 1953 from an existing company, created in 1926 with the aim to explore for oilfields and commercialize oil and derivatives. In March 1953, Enrico Mattei was nominated Eni's Chairman. Eni was an acronym for the company's full title Ente Nazionale Idrocarburi. After 1995, the meaning ceased to be relevant but the name was maintained. In 1952 Eni adopted its logo, a six-legged dog, an imaginary animal symbolizing the sum of a car's four wheels and the two legs of its driver. Starting in 1954, Eni acquired extensive exploration rights in North Africa, signing an agreement with the Egyptian government led by Nasser while providing an active and equal role for the crude producing countries through the establishment of joint ventures. In 1957 Eni pushed for a similar agreement, known as the "Mattei formula", to be signed with Persian Shah Mohammad Reza Pahlavi and the National Iranian Oil Company.
In 1960, during the Cold War period, Eni signed an agreement with the Soviet Union for the importation of Russian crude at low prices. On 27 October 1962, Enrico Mattei's airplane mysteriously exploded near Bascapè, on his way to Milan from Catania, his death was considered an accident, but it was confirmed to be a murder with the aim to protect and hide important economical and political interests in Italy and abroad, as it is stated in the records of the trial on the assassination of the journalist Mauro De Mauro, investigating on the death of Enrico Mattei. During the following years, Eni signed joint venture contracts with foreign companies to supply crude from Egypt to Iran and from Libya to Tunisia. In 1963, Eni acquired a majority stake in Italgas. In October 1973 after the Yom Kippur War and the OPEC embargo against the United States and the Netherlands by OPEC members and Arab countries, a serious his oil crisis occurred, causing Eni to consolidate its position in the international market by signing an agreement with Sonatrach, the Algerian state oil entity for natural gas supply.
In 1974 Eni signed an agreement with the Libyan government, followed by additional agreements with Egypt and Tunisia. During the mid-1970s, Eni planned a major infrastructure for transporting natural gas over long distances, by building a pipeline network of thousands of miles throughout Europe and the Mediterranean. After the inauguration of the Trans-Mediterranean Pipeline connecting Algeria to Sicily through Tunisia, Eni signs a new agreement with Libya for the exploitation of Boùri, the biggest oilfield in the centre of the Mediterranean, develops its international role within the oil industry. In 1992 Eni became a joint stock company by Law Decree, was listed to the Italian and New York Stock Exchange in 1995. From 1995 to 1998 Eni put four share offers successfully, as 70% of its capital assets were sold to private shareholders; as the price of oil collapsed in 1998 as other major companies Eni got to turn into a race through merges, international acquisitions, new explorations and the foundation of real super-companies.
Since 2000, Eni has been developing the Kashagan oilfield a major offshore discovery, along the Caspian Sea. In 2005 the Blue Stream pipeline projected to supply gas from southern Russia to Turkey was inaugurated as a joint venture between Eni and Gazprom. In 2007 Eni signed an agreement to conduct South Stream a feasibility study with Gazprom to import Russian gas into Europe across the Black Sea. Activist asset manager Knight Vinke, who owns 1% of the outstanding shares of the company, begun pressuring Eni's management to operate a spin-off of Eni's gas activities. In its opinion this would solve the undervaluation of the company and release up to 50 billion euros of hidden value. In 2010 Eni achieves key production milestone in Iraqi Zubair oil field. After getting a licence in 2006 for the exploration of an offshore area in the north of Mozambique, known as Area 4, Eni announced several major natural gas discoveries between 2011 and 2012 such as Mamba South, Mamba North, Mamba North East, Coral 1.
In February 2014, ENI discovered oil at its DRC offshore block. Since 2012 Eni has been selling off refining and marketing assets it owned in eastern Europe in order to increase profitability. By 2013 Eni reduced its refining capacity by 13 percent. In May 2014 Eni agreed to sell
San Donato Milanese
San Donato Milanese is a comune in the Metropolitan City of Milan in the Italian region Lombardy, located about 10 kilometres southeast of Milan. It is served by the San Donato underground station right on the borderline between the town and Milan and by the San Donato Milanese railway station, serving only trains for the Trenord S1 line "Saronno-Lodi" and vice versa. Although the area was settled in ancient times, the origins of San Donato date back to the 7th century, when a pieve was founded here by the army of Grimoald I, Duke of Benevento. After a period under the Milanese family De Advocati, the town was a possession of the archbishops of Milan until the 16th century. A series of abbeys were founded in the area by Bernard of Clairvaux during the 11th century. Frederick Barbarossa resided here after his destruction of Milan, while the Visconti and the Torriani fought here for the possession of the duchy of Milan; the battle of Marignano was fought nearby, Francis I of France settled his headquarters here after the battle.
Today San Donato is a modern industrial and services centre. It received the honorary title of city with a presidential decree on the 30th of December 1976. Official website
United Nations Global Compact
The United Nations Global Compact is a non-binding United Nations pact to encourage businesses worldwide to adopt sustainable and responsible policies, to report on their implementation. The UN Global Compact is a principle-based framework for businesses, stating ten principles in the areas of human rights, the environment and anti-corruption. Under the Global Compact, companies are brought together with UN agencies, labor groups and civil society. Cities can join the Global Compact through the Cities Programme; the UN Global Compact is the world's largest corporate sustainability initiative with 13000 corporate participants and other stakeholders over 170 countries with two objectives: "Mainstream the ten principles in business activities around the world" and "Catalyse actions in support of broader UN goals, such as the Millennium Development Goals and Sustainable Development Goals". Moving forward, the UN Global Compact and its signatories are invested and enthusiastic about supporting work towards the SDGs.
The UN Global Compact was announced by UN Secretary-General Kofi Annan in an address to the World Economic Forum on 31 January 1999, was launched at UN Headquarters in New York City on 26 July 2000. The Global Compact Office works on the basis of a mandate set out by the UN General Assembly as an organization that "promotes responsible business practices and UN values among the global business community and the UN System." The UN Global Compact is a founding member of the United Nations Sustainable Stock Exchanges initiative along with the Principles for Responsible Investment, the United Nations Environment Programme Finance Initiative, the United Nations Conference on Trade and Development. The UN Global Compact was launched with nine Principles. On 24 June 2004, during the first Global Compact Leaders Summit, Kofi Annan announced the addition of the tenth principle against corruption in accordance with the United Nations Convention Against Corruption adopted in 2003; the UN Global Compact is not a regulatory instrument, but rather a forum for discussion and a network for communication including governments and labour organisations, whose actions it seeks to influence, civil society organisations, representing its stakeholders.
The UN Global Compact says that once companies declared their support for the principles "This does not mean that the Global Compact recognizes or certifies that these companies have fulfilled the Compact’s principles." Instead, as mentioned in a 2015 interview with Executive Director, Lise Kingo, "we are the guide dogs, not the watchdogs", with the organization seeking to prioritize providing resources and support instead of attempting to enforce discipline. The UN Global Compact's goals are intentionally flexible and vague, but it distinguishes the following channels through which it provides facilitation and encourages dialogue: policy dialogues, local networks and projects. Given recent climate talks and summits, the UN Global Compact stands to play a critical role in helping signatories and governments work in part to achieve the SDGs. Recent studies indicate that businesses are more open than to private sector interventions, such as carbon pricing and other mechanics to help curb climate effects within the scope of business solutions.
The Global Compact will periodically create resources and guides that business and non profit organizations may use in their efforts to support the Compact's overall mission. One such example is the SDG Compass, developed in collaboration with the Global Reporting Initiative and World Business Council for Sustainable Development, a collection of resources that companies can utilize in finding out their role in helping to achieve the SDGs; the first Global Compact Leaders Summit, chaired by the Secretary-General Kofi Annan, was held in UN Headquarters in New York on 24 June 2004, to bring "intensified international focus and increased momentum" to the UN Global Compact. The second Global Compact Leaders Summit, chaired by Secretary-General Ban Ki-moon, was held on 5–6 July 2007 at the Palais des Nations in Geneva, Switzerland, it adopted the Geneva Declaration on corporate responsibility. Marking the 10th anniversary of the Global Compact's launch, the Global Compact Leaders Summit 2010 took place on 24–25 June 2010 in New York.
On the occasion, the Blueprint for Corporate Sustainability Leadership identifying leadership criteria linked to implementation of the ten principles, efforts to support development objectives, engagement in the Global Compact was released. In 2009 Rotary International partnered with the UN Global Compact; this was a friendly partnership since Rotary International played a role in the chartering of the United Nations. Since its creation in 2000 the Global Compact has been focused on helping support and achieve the Millennium Development Goals, after those expired in 2015, their top priority has been updated to the pursuit and progress towards achieving the Sustainable Development Goals, the SDG's accompanying 2030 deadlines. In 2001, the City of Melbourne proposed that cities as well as corporations should be allowed to join the UN Global Compact, arguing that this would provide a clear statement of a city's commitment to positive change, as well as motivating participation in international dialogue.
The proposal was accepted, the UN Global Compact - Cities Programme was launched in 2002. It was formed as an urban-focused component of the Global Compact with its International Secretariat located in Melbourne, Australia; the aim of the programme is to improve urban li
Regasification is a process of converting liquefied natural gas at −162 °C temperature back to natural gas at atmospheric temperature. LNG gasification plants can be located on land as well as on floating barges. Floating barge mounted plants have the advantage that they can be towed to new offshore locations for better usage in response to changes in the business environment. In a conventional regasification plantRU, LNG is heated by sea water to convert it to natural gas / methane gas. In addition to regasification, many valuable industrial byproducts can be produced using cold energy of LNG. Cold energy of LNG utilisation for extracting liquid oxygen and nitrogen gas from air, makes LNG-regasification plants more viable when they are located near integrated steel plants and/or urea plants. Cold energy of LNG usage in lieu of massive and energy intensive cryogenic refrigeration units in natural-gas processing plants is more viable economically; the natural gas processed with cold energy of LNG and the imported LNG can be injected into a conventional natural gas distribution system to reach the ultimate consumers.
The cold energy of LNG can be used for cooling the exhaust fluid of the gas turbine, working in closed joule cycle with Argon gas as fluid. Thus near 100% conversion efficiency to electricity is achieved for the LNG/natural gas consumed by the gas turbine as its exhaust heat is used/absorbed for the gasification of LNG. However, the abundant availability of natural gas, the mature technology and its acceptability in using the LNG directly in road and rail vehicles would lead to lesser demand for LNG regasification plants. Gas-to-liquids Existing regasification terminals Liquid air CNG carrier Dynamic depressurisation calculations LNG regasification unit Global LNG Regasification Markets
Terna S.p. A. is a transmission system operator based in Italy. It operates through Terna Rete Italia, that manages the Italian transmission grid and Terna Plus, in charge of new business opportunities and non-traditional activities in Italy and abroad. With 72,900 kilometres of power lines or around 98% of the Italian high-voltage power transmission grid, Terna is the first independent electricity transmission grid operator in Europe and the sixth in the world based on the size of its electrical grid. Terna is a constituent of the FTSE MIB index. On 31 May 1999, Terna was established within the Enel Group, by way of implementation of Italian Legislative Decree No. 79/99 which within the context of the process for the deregulation of the Italian electricity sector, sanctioned the separation between ownership and management of the national transmission grid. On 23 June 2004, following the Prime Minister's Decree issued on 11 May of the same year, Terna was put on sale with an IPO on Borsa Italiana.
In 2010 Terna joined Desertec, a project aimed at producing and transmitting renewable energy in the Middle East and North Africa to meet local needs and be assigned in part to the European interconnected grid. In 2011, Terna Group adopted a new organizational structure. Through Terna Rete Italia safely manages the Italian electricity system with more than 63,500 kilometers of high voltage lines. Through Terna Plus manages new business opportunities and non-traditional activities, in Italy and abroad. 2011 was the 7th consecutive year of growth for the Group. A dividend of €21 was paid per share; the 2011 results were submitted by the CEO Flavio Cattaneo during the Terna Board of Administration meeting held to approve the Strategic Plan 2012-2016. In 2012 Terna consolidated Revenues stood at 1,806 million euros, +10.4% compared to 2011 due to the Grid Transmission Fee and to the results from Non Traditional Activities carried out by the Group. On 31 January 2012 Terna presented the Development Plan of the National Electricity Transmission Grid for the decade 2012-2021.
The plan is drafted and updated every year and, in 2012, it included investments for over 7 billion euro aimed at increasing efficiency for the electricity system, including the reduction of energy losses and the reduction of CO2 emissions. In 2013 Terna consolidated Revenues stood at 1,896 million euros, with an increase of 90.5 million euros compared to 2012. Ebitda stood at Group Net income at 514 million euro. Terna is responsible for national electricity transmission development in Italy. Terna's assets include: 72,900 km of lines 871 transformation and switching stations 1 National Control center 8 Distribution Centers 3 energy conduction Centers 25 lines of interconnections with other countries SA. PE. I; the longest underwater cable in the world, with a capacity of 1000 MWTo safeguard its assets, Terna has created an organization capable of protecting the company’s physical and technological infrastructures through the prevention and management of episodes of corporate fraud. In this framework, in order to guarantee the maximum safeguarding of said infrastructures and investments, it has signed memoranda of understanding, first of its kind and type with the Ministry of the Interior and Guardia di Finanza.
In 2010 the company invested €1.06 billion that financed the construction of 1000 km of new electrical lines and 48 new stations. Terna's transmission lines carried 326.16 billion kWh in 2010, of which: 286.53 billion generated by power plants in Italy 45.76 billion imported 1.81 billion exported 4.31 billion for pumping stationsIn turn, 286.53 billion kWh were generated by: Thermoelectric power plants: 218.35 billion Hydroelectric power plants: 53.16 billion Wind power plants: 8.37 billion Geothermal power plants: 5.03 billion Photovoltaic power plants: 1.6 billion Board members: Catia Bastioli - Chairwoman Luigi Ferraris - Chief Executive Officer Fabio Corsico Luca Dal Fabbro Paola Giannotti Yunpeng He Gabriella Porcelli Stefano Saglia Elena Vasco Terna has been listed in the Italian Stock Exchange since 2004. Its major shareholder was Cassa Depositi e Prestiti, with 29.85% of shares, which in 2014 transferred to a sub-holding companies CDP Reti, a joint venture of CDP and State Grid Corporation of China.
The remaining nearly 70 % is held by other retail investors. Among the principal shareholders of the company: Romano Minozzi with 5.6%, Blackrock Inc. with 2.4% and Assicurazioni Generali with 2.0%. According to the Edison Electric Institute, Terna is the best European company among utilities by total return of shares in 2010–2012. In these three years Terna's return stood compared to average returns in the sector. In 2010 Terna did receive the same recognition for the 2007-2009, as Terna's share return stood at +40%, achieving a net overperfomance compared to the European sector that registered -15%. ENTSO-E Transmission System Operators Corriere Economia http://rassegnastampa.mef.gov.it/mefeconomica/View.aspx? ID=2010051715717598-1