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
The Nasdaq Stock Market is an American stock exchange. It is the second-largest stock exchange in the world by market capitalization, behind only the New York Stock Exchange located in the same city; the exchange platform is owned by Nasdaq, Inc. which owns the Nasdaq Nordic and Nasdaq Baltic stock market network and several U. S. stock and options exchanges. "Nasdaq" was an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers, which divested itself of Nasdaq in a series of sales in 2000 and 2001; the Nasdaq Stock Market is owned and operated by Nasdaq, Inc. the stock of, listed on its own securities exchange on July 2, 2002, under the ticker symbol NDAQ. The Nasdaq Stock Market began trading on February 8, 1971, it was the world's first electronic stock market. At first, it was a "quotation system" and did not provide a way to perform electronic trades; the Nasdaq Stock Market helped lower the spread but was unpopular among brokerages which made much of their money on the spread.
The NASDAQ Stock Market assumed the majority of major trades, executed by the over-the-counter system of trading, but there are still many securities traded in this fashion. As late as 1987, the Nasdaq exchange was still referred to as "OTC" in media reports and in the monthly Stock Guides issued by Standard & Poor's Corporation. Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and volume reporting and automated trading systems, it was the first stock market in the United States to trade online, highlighting Nasdaq-traded companies and closing with the declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq Stock Market attracted new growth companies, including Microsoft, Cisco and Dell, it helped modernize the IPO, its main index is the NASDAQ Composite, published since its inception. However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first intercontinental linkage of securities markets. The National Association of Securities Dealers spun off the Nasdaq Stock Market in 2000 to form a publicly traded company. On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3,227 by April 17, in the following 30 months fell 78% from its peak. In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed national securities exchange. In 2010, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries, expanded its global footprint, changed its name to the NASDAQ OMX Group. To qualify for listing on the exchange, a company must be registered with the United States Securities and Exchange Commission, must have at least three market makers and must meet minimum requirements for assets, public shares, shareholders. In February 2000, in the wake of an announced merger of NYSE Euronext with Deutsche Börse, speculation developed that NASDAQ OMX and Intercontinental Exchange could mount a counter-bid of their own for NYSE.
NASDAQ OMX could be looking to acquire the American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext's market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would have to be, if it proceeded, an $11–12 billion counterbid. In 2005, NASDAQ acquirred Instinet for $1.9 billion retaining the INET ECN and subsequently sellin the agency brokerage business to Silver Lake Partners and Instinet management. The European Association of Securities Dealers Automatic Quotation System was founded as a European equivalent to the Nasdaq Stock Market, it became NASDAQ Europe. Operations were shut however, as a result of the burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, is operating under Börse Berlin. On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable Stock Exchanges Initiative on the eve of the United Nations Conference on Sustainable Development.
In November 2016, Nasdaq chief operating officer Adena Friedman was promoted to the role of CEO, becoming the first woman to run a major exchange in the U. S. In 2016, Nasdaq earned $272 million in listings-related revenues. In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price increases when selling market data. Nasdaq quotes are available at three levels: Level 1 shows the highest bid and lowest ask—inside quote. Level 2 shows all public quotes of market makers together with information of market dealers wishing to buy or sell stock and executed orders. Level 3 allows them to enter their quotes and execute orders; the Nasdaq Stock Market sessions eastern time are: 4:00 am to 9:30 am premarket session 9:30 am to 4:00 pm normal trading session 4:00 pm to 8:00 pm postmarket sessionThe Nasdaq Stock Market averages about 253 trading days per year. The Nasdaq Stock Market has three different market tiers: Capital Market is an equity market for companies that have relatively
Tourism is travel for pleasure or business. Tourism may be international, or within the traveller's country; the World Tourism Organization defines tourism more in terms which go "beyond the common perception of tourism as being limited to holiday activity only", as people "traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure and not less than 24 hours and other purposes". Tourism can be domestic or international, international tourism has both incoming and outgoing implications on a country's balance of payments. Tourism suffered as a result of a strong economic slowdown of the late-2000s recession, between the second half of 2008 and the end of 2009, the outbreak of the H1N1 influenza virus, but recovered. International tourism receipts grew to US$1.03 trillion in 2005, corresponding to an increase in real terms of 3.8% from 2010. International tourist arrivals surpassed the milestone of 1 billion tourists globally for the first time in 2012, emerging markets such as China and Brazil had increased their spending over the previous decade.
The ITB Berlin is the world's leading tourism trade fair. Global tourism accounts for ca. 8% of global greenhouse gas emissions. The word tourist was used in 1772 and tourism in 1811, it is formed from the word tour, derived from Old English turian, from Old French torner, from Latin tornare. Tourism has become an important source of income for many regions and entire countries; the Manila Declaration on World Tourism of 1980 recognized its importance as "an activity essential to the life of nations because of its direct effects on the social, cultural and economic sectors of national societies and on their international relations."Tourism brings large amounts of income into a local economy in the form of payment for goods and services needed by tourists, accounting as of 2011 for 30% of the world's trade in services, for 6% of overall exports of goods and services. It generates opportunities for employment in the service sector of the economy associated with tourism; the hospitality industries which benefit from tourism include transportation services.
This is in addition to goods bought by tourists, including souvenirs. On the flip-side, tourism can degrade sour relationships between host and guest. In 1936, the League of Nations defined a foreign tourist as "someone traveling abroad for at least twenty-four hours", its successor, the United Nations, amended this definition in 1945, by including a maximum stay of six months. In 1941, Hunziker and Kraft defined tourism as "the sum of the phenomena and relationships arising from the travel and stay of non-residents, insofar as they do not lead to permanent residence and are not connected with any earning activity." In 1976, the Tourism Society of England's definition was: "Tourism is the temporary, short-term movement of people to destinations outside the places where they live and work and their activities during the stay at each destination. It includes movements for all purposes." In 1981, the International Association of Scientific Experts in Tourism defined tourism in terms of particular activities chosen and undertaken outside the home.
In 1994, the United Nations identified three forms of tourism in its Recommendations on Tourism Statistics: Domestic tourism, involving residents of the given country traveling only within this country Inbound tourism, involving non-residents traveling in the given country Outbound tourism, involving residents traveling in another countryThe terms tourism and travel are sometimes used interchangeably. In this context, travel implies a more purposeful journey; the terms tourism and tourist are sometimes used pejoratively, to imply a shallow interest in the cultures or locations visited. By contrast, traveler is used as a sign of distinction; the sociology of tourism has studied the cultural values underpinning these distinctions and their implications for class relations. International tourist arrivals reached 1.035 billion in 2012, up from over 996 million in 2011, 952 million in 2010. In 2011 and 2012, international travel demand continued to recover from the losses resulting from the late-2000s recession, where tourism suffered a strong slowdown from the second half of 2008 through the end of 2009.
After a 5% increase in the first half of 2008, growth in international tourist arrivals moved into negative territory in the second half of 2008, ended up only 2% for the year, compared to a 7% increase in 2007. The negative trend intensified during 2009, exacerbated in some countries due to the outbreak of the H1N1 influenza virus, resulting in a worldwide decline of 4.2% in 2009 to 880 million international tourists arrivals, a 5.7% decline in international tourism receipts. The World Tourism Organization reports the following ten destinations as the most visited in terms of the number of international travelers in 2017. International tourism receipts grew to US$1.26 Trillion in 2015, corresponding to an increase in real terms of 4.4% from 2014. The World Tourism Organization reports the following entities as the top ten tourism earners for the year 2015: The World Tourism Organizati
The United States of America known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U. S. is the third most populous country. The capital is Washington, D. C. and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous 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 and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean; the U. S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The diverse geography and wildlife of the United States make it one of the world's 17 megadiverse countries.
Paleo-Indians migrated from Siberia to the North American mainland at least 12,000 years ago. European colonization began in the 16th century; the United States emerged from the thirteen British colonies established along the East Coast. Numerous disputes between Great Britain and the colonies following the French and Indian War led to the American Revolution, which began in 1775, the subsequent Declaration of Independence in 1776; the war ended in 1783 with the United States becoming the first country to gain independence from a European power. The current constitution was adopted in 1788, with the first ten amendments, collectively named the Bill of Rights, being ratified in 1791 to guarantee many fundamental civil liberties; the United States embarked on a vigorous expansion across North America throughout the 19th century, acquiring new territories, displacing Native American tribes, admitting new states until it spanned the continent by 1848. During the second half of the 19th century, the Civil War led to the abolition of slavery.
By the end of the century, the United States had extended into the Pacific Ocean, its economy, driven in large part by the Industrial Revolution, began to soar. The Spanish–American War and World War I confirmed the country's status as a global military power; the United States emerged from World War II as a global superpower, the first country to develop nuclear weapons, the only country to use them in warfare, a permanent member of the United Nations Security Council. Sweeping civil rights legislation, notably the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the Fair Housing Act of 1968, outlawed discrimination based on race or color. During the Cold War, the United States and the Soviet Union competed in the Space Race, culminating with the 1969 U. S. Moon landing; the end of the Cold War and the collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. The United States is the world's oldest surviving federation, it is a representative democracy.
The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States, other international organizations. The United States is a developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for a quarter of global GDP; the U. S. economy is post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world. The United States is the world's largest importer and the second largest exporter of goods, by value. Although its population is only 4.3% of the world total, the U. S. holds 31% of the total wealth in the world, the largest share of global wealth concentrated in a single country. Despite wide income and wealth disparities, the United States continues to rank high in measures of socioeconomic performance, including average wage, human development, per capita GDP, worker productivity.
The United States is the foremost military power in the world, making up a third of global military spending, is a leading political and scientific force internationally. In 1507, the German cartographer Martin Waldseemüller produced a world map on which he named the lands of the Western Hemisphere America in honor of the Italian explorer and cartographer Amerigo Vespucci; the first documentary evidence of the phrase "United States of America" is from a letter dated January 2, 1776, written by Stephen Moylan, Esq. to George Washington's aide-de-camp and Muster-Master General of the Continental Army, Lt. Col. Joseph Reed. Moylan expressed his wish to go "with full and ample powers from the United States of America to Spain" to seek assistance in the revolutionary war effort; the first known publication of the phrase "United States of America" was in an anonymous essay in The Virginia Gazette newspaper in Williamsburg, Virginia, on April 6, 1776. The second draft of the Articles of Confederation, prepared by John Dickinson and completed by June 17, 1776, at the latest, declared "The name of this Confederation shall be the'United States of America'".
The final version of the Articles sent to the states for ratification in late 1777 contains the sentence "The Stile of this Confederacy shall be'The United States of America'". In June 1776, Thomas Jefferson wrote the phrase "UNITED STATES OF AMERICA" in all capitalized letters in the headline of his "original Rough draught" of the Declaration of Independence; this draft of the document did not surface unti
The Cotai Strip is a term coined by Las Vegas Sands Corporation with regard to its building of a strip of hotel-casinos in the Cotai section of Macau, a special administrative region of the People's Republic of China. Cotai was the result of a major land reclamation project which joined the two islands of Coloane and Taipa, is part of the Macau government's continuous efforts to expand the region's territory; the reclaimed land in Cotai is to be used for casino developments and Las Vegas Sands Corporation envisioned that their development of several adjacent properties would comprise an area that would resemble the Las Vegas Strip, albeit on a smaller scale. Over the past decade, the layout of the Cotai Strip has slowly developed into a grid like layout with major hotels and casinos built not directly connected to the'strip' as opposed to Las Vegas strip with the majority of major hotels and casinos with front access to the Las Vegas strip; the United States Patent and Trademark Office has granted Las Vegas Sands Corporation a trademark on the term "Cotai Strip", however some members of the press use the term to refer to all of the hotel-casinos in Cotai.
The Cotai Strip is a term coined by American Las Vegas Sands Corporation with regard to its building of a strip of hotel-casinos in the Cotai section of Macau, a special administrative region of the People's Republic of China. Galaxy Entertainment Group's Grand Waldo Hotel was the first casino to commence operations in Cotai, opening its doors in May, 2006; the construction of many other casino and hotel projects is underway. The largest and most notable property on Cotai so far is Las Vegas Sands' Venetian Macao, which opened its doors on August 28, 2007. Melco PBL Holdings opened the City of Dreams directly across the street from the Venetian on June 1, 2009. Due to the 2008 financial crisis, up to 11,000 construction workers are to lose their jobs as US gaming giant Las Vegas Sands cuts back its development in Macau. Stephen Weaver, Sands' president for Asia, said up to 11,000 workers will lose their jobs in Macau after the company halted building projects in the city. Developments of site no. 5 and no. 6 on the strip will be halted.
Las Vegas Sands has focused its construction work on the Marina Bay Sands Resort in Singapore. On 30 November 2009 the Las Vegas Sands corp announced it had secured $1.75 billion to complete its Shangri-La, Traders and Sheraton Hotels, which were abandoned 65% complete in mid-2008. The 636 room Shangri-La Hotel, 1,200 room Traders Hotel and an over 2,000 room Sheraton hotel was scheduled to open in June 2011. In December 2011 the Sheraton will open a further 2,000 rooms in another tower; the Sheraton will have 4,067 rooms. The St Regis Hotel might be completed in a further stage. Sheldon Adelson revealed it would take "a year and a half or so" to complete the new Cotai resort at plots 5 and 6 on 9 January 2011, meaning the sites will be completed by about mid-2012. No information was released about Cotai plots 3, 7 and 8; these are likely to be cancelled. Macao's director of the Lands, Public Works and Transport Bureau, Jaime Carion, said on 5 December 2010, that the Government is now looking at developing non-gaming projects in Cotai.
He stressed that the Sands China application procedure for plots 7 and 8 was not complete and the Government would announce the result at the most convenient time. Galaxy Entertainment, building Galaxy Macau has stated that after having slow construction in 2009, it will try to get its Cotai first phase development open for Q1 2011. Galaxy Macau was opened on 15 May 2011; as of February 2016, several new hotel-casinos have opened in Cotai, with several more scheduled to open in 2016 including the Wynn Palace and the MGM Cotai. Somewhere is being invested in Cotai. Macau Light Rapid Transit – As of 2018, it is under construction, it will serve the Macau Peninsula and Cotai, serving major border checkpoints such as the Border Gate, the Outer Harbour Ferry Terminal, the Lotus Bridge Border and the Macau International Airport. It will have stops at nearly every casinos as it meanders through the peripheral road of the Cotai strip; the Macau Theme Park and Resort Ltd, controlled by Angela Leong On Kei, has said that it intends to build a MOP 10.4 billion family-oriented amusement resort and hotels in Cotai.
According to a press statement, the integrated resort project will be developed in three phases and each of them will take about two and a half to three years to complete. The company revealed that the entire family resort will consist of one 5-star, four 4-star and one 3-star hotels with over 6,000 guest rooms, shopping malls, convention facilities, an indoor beach and wave pool, amusement rides, a 4D theatre, an equestrian centre, a horse carriage trail as well as a water sports performance centre. SJM Holdings is in talks with Macau Theme Park and Resort Ltd to try to find a way for both companies to cooperate on Cotai, chief executive officer, Ambrose So Shu Fai, revealed on 16 December 2010. Stanley Ho's SJM is still waiting for the Government to approve the application for a plot in Cotai, which sits just beside the Macau Dome and the land where the company, headed by businesswoman and lawmaker Angela Leong On Kei –, Stanley Ho's fourth wife and SJM's director –, is set to build the theme park.
"We are not a shareholder in the theme park development, but we did talk with Angela Leong, developing that theme park, to see if there is a synergy between the two plots of land," So told reporters. The new Casino resort is called Wynn Palace with a second phase entitled Wynn Diamond. Wynn announced in mid August 2010 that he will be building a new c
A casino is a facility which houses and accommodates certain types of gambling activities. The industry that deals in casinos is called the gaming industry. Casinos are most built near or combined with hotels, retail shopping, cruise ships or other tourist attractions. There is much debate over whether the social and economic consequences of casino gambling outweigh the initial revenue that may be generated; some casinos are known for hosting live entertainment events, such as stand-up comedy and sporting events. The term "casino" is a confusing linguistic false friend for translators. Casino is of Italian origin; the term casino may mean summerhouse, or social club. During the 19th century, the term casino came to include other public buildings where pleasurable activities took place. In modern-day Italian a casino is either a brothel, a mess, or a noisy environment, while a gaming house is spelt casinò, with an accent. Not all casinos were used for gaming; the Catalina Casino, a famous landmark overlooking Avalon Harbor on Santa Catalina Island, has never been used for traditional games of chance, which were outlawed in California by the time it was built.
The Copenhagen Casino was a theatre, known for the mass public meetings held in its hall during the 1848 Revolution, which made Denmark a constitutional monarchy. Until 1937, it was a well-known Danish theatre; the Hanko Casino in Hanko, Finland—one of that town's most conspicuous landmarks—was never used for gambling. Rather, it was a banquet hall for the Russian nobility which frequented this spa resort in the late 19th century and is now used as a restaurant. In military and non-military usage in German and Spanish, a casino or kasino is an officers' mess; the precise origin of gambling is unknown. It is believed that gambling in some form or another has been seen in every society in history. From the Ancient Greeks and Romans to Napoleon's France and Elizabethan England, much of history is filled with stories of entertainment based on games of chance; the first known European gambling house, not called a casino although meeting the modern definition, was the Ridotto, established in Venice, Italy in 1638 by the Great Council of Venice to provide controlled gambling during the carnival season.
It was closed in 1774. In American history, early gambling establishments were known as saloons; the creation and importance of saloons was influenced by four major cities: New Orleans, St. Louis and San Francisco, it was in the saloons that travelers could find people to talk to, drink with, gamble with. During the early 20th century in America, gambling became outlawed and banned by state legislation and social reformers of the time. However, in 1931, gambling was legalized throughout the state of Nevada. America's first legalized casinos were set up in those places. In 1976 New Jersey allowed gambling in Atlantic City, now America's second largest gambling city. Most jurisdictions worldwide have a minimum gambling age. Customers gamble by playing games of chance, in some cases with an element of skill, such as craps, baccarat and video poker. Most games played have mathematically determined odds that ensure the house has at all times an overall advantage over the players; this can be expressed more by the notion of expected value, uniformly negative.
This advantage is called the house edge. In games such as poker where players play against each other, the house takes a commission called the rake. Casinos sometimes give out complimentary comps to gamblers. Payout is the percentage of funds returned to players. Casinos in the United States say that a player staking money won from the casino is playing with the house's money. Video Lottery Machines have become one of the most popular forms of gambling in casinos; as of 2011 investigative reports have started calling into question whether the modern-day slot-machine is addictive. Casino design—regarded as a psychological exercise—is an intricate process that involves optimising floor plan, décor and atmospherics to encourage gambling. Factors influencing gambling tendencies include sound and lighting. Natasha Dow Schüll, an anthropologist at the Massachusetts Institute of Technology, highlights the decision of the audio directors at Silicon Gaming to make its slot machines resonate in "the universally pleasant tone of C, sampling existing casino soundscapes to create a sound that would please but not clash".
Dr Alan Hirsch, founder of the Smell & Taste Treatment and Research Foundation in Chicago, studied the impact of certain scents on gamblers, discerning that a pleasant albeit unidentifiable odour released by Las Vegas slot machines generated about 50% more in daily revenue. He suggested. Casino designer Roger Thomas is credited with implementing a successful, disruptive design for the Las Vegas Wynn Resorts casinos in 2008, he broke casino design convention by introducing natural sunlight and flora to appeal to women. Thomas put in skylights and antique clocks, defying the commonplace notion that a casino should be a timeless space; the following li
The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s. The scale and timing of the recession varied from country to country; the International Monetary Fund concluded that the overall impact was the most severe since the Great Depression of the 1930s. The Great Recession stemmed from the collapse of the United States real-estate market in relation to the global financial crisis of 2007 to 2008 and the U. S. subprime mortgage crisis of 2007 to 2009. According to the nonprofit National Bureau of Economic Research, the recession in the U. S. ended in June 2009, thus extending over 19 months. The Great Recession resulted in a scarcity of valuable assets in the market economy and the collapse of the financial sector in the world economy. S. federal government. The recession was not felt around the world. Two senses of the word "recession" exist: one sense referring broadly to "a period of reduced economic activity" and ongoing hardship.
Under the academic definition, the recession ended in the United States in June or July 2009. Robert Kuttner argues, “’The Great Recession,’ is a misnomer. We should stop using it. Recessions are mild dips in the business cycle that are either self-correcting or soon cured by modest fiscal or monetary stimulus; because of the continuing deflationary trap, it would be more accurate to call this decade's stagnant economy The Lesser Depression or The Great Deflation." The Great Recession met the IMF criteria for being a global recession only in the single calendar year 2009. That IMF definition requires a decline in annual real world GDP per‑capita. Despite the fact that quarterly data are being used as recession definition criteria by all G20 members, representing 85% of the world GDP, the International Monetary Fund has decided—in the absence of a complete data set—not to declare/measure global recessions according to quarterly GDP data; the seasonally adjusted PPP‑weighted real GDP for the G20‑zone, however, is a good indicator for the world GDP, it was measured to have suffered a direct quarter on quarter decline during the three quarters from Q3‑2008 until Q1‑2009, which more mark when the recession took place at the global level.
According to the U. S. National Bureau of Economic Research the recession began in December 2007 and ended in June 2009, thus extended over eighteen months; the years leading up to the crisis were characterized by an exorbitant rise in asset prices and associated boom in economic demand. Further, the U. S. shadow banking system had grown to rival the depository system yet was not subject to the same regulatory oversight, making it vulnerable to a bank run. US mortgage-backed securities, which had risks that were hard to assess, were marketed around the world, as they offered higher yields than U. S. government bonds. Many of these securities were backed by subprime mortgages, which collapsed in value when the U. S. housing bubble burst during 2006 and homeowners began to default on their mortgage payments in large numbers starting in 2007. The emergence of sub-prime loan losses in 2007 began the crisis and exposed other risky loans and over-inflated asset prices. With loan losses mounting and the fall of Lehman Brothers on September 15, 2008, a major panic broke out on the inter-bank loan market.
There was the equivalent of a bank run on the shadow banking system, resulting in many large and well established investment and commercial banks in the United States and Europe suffering huge losses and facing bankruptcy, resulting in massive public financial assistance. The global recession that followed resulted in a sharp drop in international trade, rising unemployment and slumping commodity prices. Several economists predicted that recovery might not appear until 2011 and that the recession would be the worst since the Great Depression of the 1930s. Economist Paul Krugman once commented on this as the beginning of "a second Great Depression". Governments and central banks responded with fiscal and monetary policies to stimulate national economies and reduce financial system risks; the recession has renewed interest in Keynesian economic ideas on how to combat recessionary conditions. Economists advise that the stimulus should be withdrawn as soon as the economies recover enough to "chart a path to sustainable growth".
The distribution of household incomes in the United States has become more unequal during the post-2008 economic recovery. Income inequality in the United States has grown from 2005 to 2012 in more than 2 out of 3 metropolitan areas. Median household wealth fell 35% in the US, from $106,591 to $68,839 between 2005 and 2011; the majority report provided by U. S. Financial Crisis Inquiry Commission, composed of six Democratic and four Republican appointees, reported its findings in January 2011, it concluded that "the crisis was avoidable and was caused by: Widespread failures in financial regulation, including the Federal Reserve's failure to stem the tide of toxic mortgages.