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{ "dump": "CC-MAIN-2021-17", "language_score": 0.9347640872001648, "language": "en", "url": "https://greeninfrastructureontario.org/combatting-canadas-rising-flood-costs/", "token_count": 262, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0419921875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:499051fc-e39a-49a2-8078-0f20ec67957f>" }	An overarching and complex barrier in the adoption of natural infrastructure is the limited capacity of institutions to develop and finance natural infrastructure options. With climate resiliency at the forefront of community planning, it is evident that without proper infrastructure – natural or otherwise – climate-change induced damages such as flooding and excess water flows are costly to everyone. Wetlands, ponds, and vegetated areas are well documented to both limit water damage and reduce flood risks during inclement weather events. These naturally occurring barriers to water damage make it crucial to advocate for natural infrastructure implementation. The report “Combatting Canada’s Rising Flood Costs: Natural infrastructure is an underutilized option” examines the efficacy of natural infrastructure for climate adaptation and looks at developing a framework that could be used to support the protection, restoration, and development of new natural infrastructure.. The report suggests the development of a cost-benefit assessment to compare natural and grey infrastructure against a common standard. This could be used to assess a range of projects, including wetland preservation, riparian buffer restoration, reforestation, riverbank naturalization and flood plain restoration. The report highlights natural infrastructure as an underutilized solution and suggests that having this benchmark to compare benefits could help encourage investment away from purely grey solutions. Click here to read the report.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.845338761806488, "language": "en", "url": "https://idahoat.org/Get-AT/financial-literacy/success-plan", "token_count": 279, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0166015625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:17b10183-c1e0-4dc3-a586-d03616e3393d>" }	Building a Financial Success Plan Financial success is all about planning. Developing that plan includes understanding how you value your money, tracking your expenses, and setting goals. The final step in building a financial success plan is to develop a spending and savings plan that identifies spending leaks and corrects them by reducing your spending. Building financial success is a process. In these presentations, you will learn about each step needed to develop a financial success plan and the tools to keep it on track. Financial Success Plan Modules Part 1: Building a Financial Success Plan: Tracking ExpensesVideo Part 1: Building a Financial Success Plan: Tracking Expenses Transcript Part 2: Building a Financial Success Plan: Making a Spending & Savings PlanVideo Part 2: Building a Financial Success Plan: Making a Spending & Savings Plan Transcript Financial Success Plan Resources 2.1 Creating my Spending and Savings PlanPDF Assistive Finance Program Resources National and Idaho resources for financing assistance technology and assistive technology vendors. Financial Literacy Workbook The Financial Literacy Workbook PDF is a guide to money management for people with disabilities. The Idaho Assistive Technology Project would like to acknowledge and thank the UI Extension staff Karen Richel, Lyle Hanson, and Luke Erickson for providing their content expertise for this project. More resources can be found on the UI Extension Personal Finance website.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.948404848575592, "language": "en", "url": "https://m.scirp.org/papers/70739", "token_count": 2045, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.5, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:43b9e932-6943-4428-95b4-cd4c0d72d54f>" }	Matching the demand for and supply of labour generally presents more difficulties for the youth segments of the labour force. The size of the gap between youth and overall unemployment rates, particularly in a number of European countries, has already been stressed in OECD for the purpose of policy interventions . Hence, a UNESCO document emphasizes that while the number of students in higher education increases, greater attention must be paid to the quality of the graduating student skills and their relation to real-world workplace demands , which is in order to deal with the employment pressure in the future. In recent years, China’s higher education reform is unceasing, and the higher education is from “elite” to “popularization”, which results in the fast rise in number of college students. Furthermore, at present overall employment situation in China is grim, especially the college students’ employment status, which is influenced by the world economic downturn. Meanwhile, because the production department of labor demand has reduced greatly, a large number of layoffs and downsizing problems in a lot of enterprises, factory bankruptcy increase the social pressure of surplus labor, and this problem is still very prominent in recent years. On the other hand, since 1999 extensive enrollment expansion of colleges and universities in China, more and more college graduates with the average annual growth rate of 23% intensify the employment status - . A study carried out by the National Association of Universities and Institutions of Higher Education (ANUIES, in Spanish) reveals that difficulty in finding employment affects 40% of university graduates, significantly affecting the total professional unemployment rate which is currently at 5.1%. This rate can potentially increase significantly as Higher Education Institution (HEI) graduate unemployment will affect approximately 3 million persons in 2020. According to the statistics in China, in 2011, the number of college graduates in China had reached the peak, about 7.58 million graduates. The number of graduates was about 6.8 in 2012, 6.99 million in 2013, and 7.27 million in 2014, respectively. Moreover, in 2015 college graduates will amount to 7.49 million . Hence, the next five to ten years will be the most difficult period of the employment of university graduates. In order to find out the employment status and improve the employment pressure in the local universities of China, as the important components of China’s higher education system, it is playing a noticeable role in both cultivating the talents and solving the problem of graduates’ employment . This paper explored the employment view of college graduates, so as to provide reference for the independent college graduate employment in the future. Data were collected from graduates enrolling in the local universities in Hebei province of China. All questionnaires were released at the scene, there were 572 valid surveys out of 600, with a valid rate of 95.3%. The random sampling method was used in this study. The subject included 67.8% male and 32.2% female, 476 graduates were majored in science, and the other was arts students. 551 graduates were aged between 20 and 22, only 21 graduates were over 22 years old. The questionnaire had 25 items, which involved the personal information (department, profession, age, sex, etc.) of graduates, the awareness of employment situation (work place, work environment, etc.), professional prospects, starting salaries and career direction, and the impact of school course to employment, etc. For example, “How do you think the phenomenon of profession mismatch with work?”, “Are you willing to choose their own business after graduating?”, “what is your view on ‘two-way choice, independent choosing profession’ of employment policy?” etc. 3.1. Graduates Have No Idea about Employment Status The survey found that 87.5% of graduates thought employment status was not serious, only 6.3% of the graduates thought the serious employment status in the year of 2016. It indicated that most graduates’ employment cannot recognize the grim employment. Just as the analysis of Zhang who is the director of the national institutions of higher learning student information counseling and career guidance center, ministry of education of China. The need of graduates increased obviously in the private enterprises, small and medium-sized enterprises, the second- and third-tier cities. The obvious difference still existed between the employment expectation of graduates and social demand. Overall, the severe employment situation was still complicated. 3.2. Graduates Confuse Major Prospects and Career Planning The survey found that 72% of graduates thought the major prospects were so general. 25% of graduates had strong confidence on the major prospect. In the question of “to develop career planning for you to set up the correct problems are greatly”, 40% of the graduates considered it was very necessary for them, 50% of graduates considered the help was not obvious, even nearly 10% of graduates considered that without any help. It indicated that the graduates did not understand the major prospects and planned in detail the career planning, even without planning. 3.3. The Employment Concentration, Higher Expectations from Graduates The survey found that in the face of increasingly fierce employment competition pressure at present, 75% of the graduates had very high confidence, 18.8% of graduates had a little confidence. 50% of graduates expected to work in colleges and universities, scientific research units, 25% of graduates expected to work in the state-owned enterprises, 18.8% of graduates expected to work in the administrative organ, only 6.3% of the graduates preferred foreign-funded enterprises or private enterprises. Nearly 80% of graduates hoped that the starting salary is 3000 - 4000 yuan per month, when they graduated. That expectation of graduate employment direction was excessive concentration, however, the reality of enterprises in the employment, accounting for almost 50% of total employment graduates did not correspond to graduates employment and social needs. 4. Recommendation and Conclusion 4.1. To Adjust Their Outlooks on Employment by Graduates Themselves The current global recession shows that employment problems are generated by the supply side because many graduates do not have the skills required by the labor market . So it is necessary to enhance the skills of graduates themselves. Firstly, the graduates promoted the competitiveness of the self by realizing the employment status, analyzing the self quality and ability and basing on the expected employment direction. According to the needs of society, they definitely choose their jobs and direction though the analysis of the specialty or interest interests in all aspects. Secondly, they should reduce employment expectation, also not too much to reduce employment expectation. Meanwhile, they consider the working space, opportunity and development for choosing a suitable job, which they also learn to accumulate work experience and ability, to create a better employment direction. Third, the graduates proceed self-employment by finding business opportunities and resources, because of the background of people’ innovation and national business. 4.2. To Offer Employment Opportunities for Graduates and to Strengthen Guidance from Local Universities Firstly, the universities help graduates to recognize themselves and actively guide the correct employment through teaching the career planning and employment guidance theory course. The universities theoretically teach professional graduates planning, combine the resources of the graduate employment status to analyze and guide correctly the graduates’ reasonable employment. Secondly, the universities strengthen the cooperation between colleges and enterprises to create more jobs for graduates. The university-enterprise cooperation broadens the students’ knowledge in the college, and also exercises the students’ ability in social work, and accumulates the ability of employment. Third, the universities should perfect the campus entrepreneurial mechanism and encourage graduates to start up business. To enhance the publicity of entrepreneurial supporting policies from the nation, the universities help the students achieve business during the period of college. 4.3. To Assist Graduates Employment from Families and Universities College students education is both the responsibility of the family and school, and university graduates employment is also so, though the analysis of family background, economic status, families and colleges helps the employment for graduates together. Because family socioeconomic status can expand to graduates employment channels, provide more and more valuable employment information for graduates and can also provide graduates with economic aid. Meanwhile, the families with higher socioeconomic status itself that have enough economic accumulation are not only in no hurry to drive their children’s employment after graduation, but also have the ability to continue their children to go abroad to provide financial support, which possibly delays graduates employment. Based on graduates themselves, college itself strength of university-enterprise cooperation and college students’ family economic background, in general, the local universities of China should help graduates establish the correct employment view, straighten the employment expectation, integrate resources and improve the independent college graduates employment status. This work was supported by the Project of Education and Teaching Reform in Polytechnic College of Hebei University of Science and Technology (ZX2015Y02). Chen, X.M. (2014) The Research on University Students’ Employment under the Multidimensional Perspective. China Electric Power Education, 2, 227-229. (2015) 7.49 Million College Graduates Employment Demand and Structural Changes in 2015. China Education Online, Employment Channels. Wang, D.J., Zhu, Q.X. and Lin, Y. (2013) Study on the Problems Existing in the Employment Education for College Students in China’s Independent Colleges and Corresponding Countermeasures. Creative Education, 4, 470-473. Zhang, F.Y. (2015) The Employment Status and Employment Policy Was Read by the Director of the Career Guidance Center, Ministry of Education. China University Students Career Guide, 1, 7-8. Burnett, N. (2008) The New Dynamics of Higher Education: Meeting the Challenges of Equity, Quality and Social Responsibility. OECD/France International Conference—Higher Education to 2030: What Futures for Quality Access in the Era of Globalization?
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9330779910087585, "language": "en", "url": "https://www.nspackaging.com/news/un-plastic-pollution/", "token_count": 982, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.2041015625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:6e2e1dac-3a0e-4dc3-90c7-6e63bbe26667>" }	Companies including Amcor, Danone, PepsiCo, and The Coca-Cola Company are among those calling for a UN treaty on plastic pollution NGOs and businesses from across the world have called on the UN for a treaty on plastic pollution. The call being led by the Ellen MacArthur Foundation, the World Wide Fund for Nature (WWF) and the Boston Consulting Group (BCG) is due to what they believe is the need to accelerate progress towards a circular economy for plastic. They also say it would set a common structure, as well as clear direction and conditions, for this, giving governments and businesses the impetus to move forward more decisively. The NGOs and businesses are calling for a global agreement setting out goals and binding targets, alongside national action plans, and consistent measurement in order to harmonise policy efforts, enhance investment planning, stimulate innovation and coordinate infrastructure development. Dame Ellen MacArthur, founder and chairwoman of the Ellen MacArthur Foundation, said: “We have seen important steps taken by businesses and governments in addressing plastic pollution over recent years. “More than 500 organisations have signed the New Plastics Economy Global Commitment, setting clear targets to achieve a circular economy for plastic in which it never becomes waste or pollution. “But voluntary initiatives alone are not enough to solve plastic pollution and we believe governments and policymakers have a vital role to play. “A binding global agreement that builds on the vision of a circular economy for plastic can ensure a unified international response to plastic pollution that matches the scale of the problem.” Plastic waste leaking into the environment at alarming rates, says report The call comes alongside a report launched by the WWF, the Ellen MacArthur Foundation and BCG. Titled The Business Case for a UN Treaty on Plastic Pollution, it reveals that a new international treaty on plastic pollution will benefit both the environment and business, and would complement existing initiatives. The report also shows that despite a doubling of voluntary initiatives and national regulations over the last five years, plastic waste continues to leak into the environment at alarming rates – finding that more than 11 million tonnes of plastic flow into the oceans each year. It further sets out the opportunity for a new global UN treaty on plastic pollution to significantly accelerate progress towards a circular economy for plastics. The establishment of a common structure would set clear direction and conditions, giving governments and businesses the impetus to decisively move forward. About 30 major global companies – including Amcor, Danone, PepsiCo, Tesco, The Coca-Cola Company and Unilever – have backed the call through a business manifesto calling for a UN treaty. This manifesto urges governments to negotiate and agree on a new global agreement on plastic pollution, saying “there is no time to waste”. This is the first collective corporate action calling on governments to adopt a treaty on plastic pollution. WWF International’s head of market practices Cristianne Close said: “Over the last few years we have seen growing public demand for action on plastic pollution, with some governments and industries starting to implement voluntary measures on this issue, but this needs better coordination, and the international impetus and recognition that a global treaty would generate. “While companies have a clear responsibility to address plastic pollution within their own supply chains, wider systemic change is vital. “The plastic pollution crisis was created in a single lifetime and can be ended in a single decade. But only if we act now, together.” A resolution to start negotiations on such a treaty is expected to be tabled at the upcoming 5th Session of the United Nations Environmental Assembly, scheduled for February 2021. Action on plastic pollution is needed now, says environmental campaigner In response to the report, Greenpeace UK plastics campaigner Nina Schrank believes that an international and legally binding agreement to the plastic problem “should prompt retailers to innovate, remove plastic packaging and shift to reuse and refill systems”. She added: “But UK supermarkets and ministers can’t sit back and wait for these discussions to start in 2021. “The government should start showing global leadership now by setting legally-binding targets for UK retailers to reduce single-use plastics. “By insisting on a 50% reduction by 2025, the government could make strides on reduction. “The long-overdue UK-wide deposit return scheme for bottles and cans needs to be rolled out, and ministers need to incentivise a huge shift towards reuse. “Although it’s good to hear brands like Coke, Nestle and Pepsi endorsing a global treaty to eliminate plastic pollution, this crisis needs action now. “If they’re serious, they must follow up with a statement showing how they plan to phase out throwaway packaging on a global scale.”
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9527547955513, "language": "en", "url": "https://www.resources.org/common-resources/do-information-nudges-help-conserve-water/", "token_count": 858, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.00921630859375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:ad0b0178-fe75-42f8-ac5d-66c4b0fec4d8>" }	In the past decade or so, there has been a strong push for using information to “nudge” consumers to conserve residential water and electricity. The benefits of these programs are numerous—first, consumers who reduce their usage also reduce their utility bills; second, conservation is good for the environment; and third, providing such information tends to be easier to implement than, for example, higher prices. These informative interventions can take the form of comparing your electricity usage to your neighbors’, notifying you of how much electricity you have used in a billing period, or simply reminding you that your consumption incurs a cost in real time. Most evaluations of these types of programs confirm that they induce conservation. However, my recent analysis of one such program finds the opposite. In a new RFF discussion paper, I look at water customers’ responses to a change in billing frequency in the southeastern United States. Specifically, residential water customers were transitioned from receiving water bills every other month to receiving them every month. To identify how water demand responded as a result of this change, consumption from households on monthly billing can be compared to that of households on bi-monthly billing since the transition was rolled out over several years. This change in billing frequency can be examined as an informative intervention since consumers are provided with more frequent information about their billed usage. Standard economic theory suggests that such a change should not affect consumption since price, the primary criteria used for decisionmaking, remained the same. I find strong empirical evidence, however, that the change in billing frequency directly increased water use by approximately five percent for the average household. This finding provides novel evidence that (1) water customers respond to more than just the unit price of water and (2) providing more information to water customers does not always induce conservation. These results beg the immediate question, “why?” One crude explanation is that consumers see a smaller bill each month (compared to previous bi-monthly bills) and perceive, incorrectly, that they used less water that billing period. Another explanation is that consumers are more aware of how much water they are using in a given billing period, and they can better associate the cost of water with their usage. And yet another interpretation is that more frequent billing increases the salience of the price of water, which allows consumers to update their perception of price. Within the last interpretation, if consumers previously thought water was more expensive than it actually is, then more frequent billing may adjust this perception downward. While the analysis is not well suited to test these hypotheses directly, consumers are arguably better off since they have more information to make decisions and are able to allocate income to uses of water that they find most valuable. In addition to the primary result of this research, I find differences in consumer responses to the change in billing frequency in two important ways. - The change in consumption is not temporary. While it appears that the effect is largest in the months directly after the transition, I find evidence that the effect persists throughout the end of the study period. This result suggests that small changes in billing frequency can affect long-term consumer behavior. - I find that consumers increase consumption more during summer months, which suggests an increase in “non-essential” outdoor water use. What does this mean for water conservation? The findings of this research undoubtedly raise more questions than solutions. First, evaluation of informative interventions in electricity and water demand have begun to treat these policy tools as robust instruments of conservation, but my results suggest that there may be unintended consequences of the provision of more information in these settings. Second, in a context where shoving is more likely than nudging, we need a better understanding of the mechanisms that drive consumer behavior in response to informative interventions to implement actionable, predictable, and cost-effective policy. Finally, while the results of this study are not encouraging from an environmental perspective, the silver lining is that this research provides an opportunity to rethink what information is provided to consumers on utility bills and how it may affect their behavior. If something as simple as changing the frequency of water bills can induce a five percent change in water demand, then a carefully constructed information provision could be a boon for the future of water conservation.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9331671595573425, "language": "en", "url": "https://en.wikipedia.org/wiki/Supermarket", "token_count": 7628, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1044921875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:790d6575-eba7-4c18-8404-c04db7552967>" }	The examples and perspective in this article may not represent a worldwide view of the subject. (July 2019) (Learn how and when to remove this template message) A supermarket is a self-service shop offering a wide variety of food, beverages and household products, organized into sections. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market. The supermarket typically has aisles for meat, fresh produce, dairy, and baked goods. Shelf space is also reserved for canned and packaged goods and for various non-food items such as kitchenware, household cleaners, pharmacy products and pet supplies. Some supermarkets also sell other household products that are consumed regularly, such as alcohol (where permitted), medicine, and clothing, and some sell a much wider range of non-food products: DVDs, sporting equipment, board games, and seasonal items (e.g., Christmas wrapping paper in December). A larger full-service supermarket combined with a department store is sometimes known as a hypermarket. Other services may include those of banks, cafés, childcare centres/creches, insurance (and other financial services), mobile phone services, photo processing, video rentals, pharmacies, and petrol stations. If the eatery in a supermarket is substantial enough, the facility may be called a "grocerant", a blend of "grocery" and "restaurant". The traditional supermarket occupies a large amount of floor space, usually on a single level. It is usually situated near a residential area in order to be convenient to consumers. The basic appeal is the availability of a broad selection of goods under a single roof, at relatively low prices. Other advantages include ease of parking and frequently the convenience of shopping hours that extend into the evening or even 24 hours of the day. Supermarkets usually allocate large budgets to advertising, typically through newspapers. They also present elaborate in-shop displays of products. Supermarkets typically are chain stores, supplied by the distribution centers of their parent companies, thus increasing opportunities for economies of scale. Supermarkets usually offer products at relatively low prices by using their buying power to buy goods from manufacturers at lower prices than smaller stores can. They also minimise financing costs by paying for goods at least 30 days after receipt and some extract credit terms of 90 days or more from vendors. Certain products (typically staple foods such as bread, milk and sugar) are very occasionally sold as loss leaders so as to attract shoppers to their store. Supermarkets make up for their low margins by a high volume of sales, and with of higher-margin items bought by the attracted shoppers. Self-service with shopping carts (trolleys) or baskets reduces labor costs, and many supermarket chains are attempting further reduction by shifting to self-service check-out. This section needs additional citations for verification. (July 2010) (Learn how and when to remove this template message) In the early days of retailing, products generally were fetched by an assistant from shelves behind the merchant's counter while customers waited in front of the counter and indicated the items they wanted. Most foods and merchandise did not come in individually wrapped consumer-sized packages, so an assistant had to measure out and wrap the precise amount desired by the consumer. This offered opportunities for social interaction: many regarded this style of shopping as "a social occasion" and would often "pause for conversations with the staff or other customers". These practices were by nature slow and had high labor intensity and therefore also quite expensive. The number of customers who could be attended to at one time was limited by the number of staff employed in the store. Shopping for groceries also often involved trips to multiple specialty shops, such as a greengrocer, butcher, bakery, fishmonger and dry goods store; in addition to a general store. Milk and other items of short shelf life were delivered by a milkman. The concept of an inexpensive food market relying on large economies of scale was developed by Vincent Astor. He founded the Astor Market in 1915, investing $750,000 of his fortune into a 165′ by 125′ (50×38-metre) corner of 95th and Broadway, Manhattan, creating, in effect, an open-air mini-mall that sold meat, fruit, produce and flowers. The expectation was that customers would come from great distances ("miles around"), but in the end, even attracting people from ten blocks away was difficult, and the market folded in 1917. The concept of a self-service grocery store was developed by entrepreneur Clarence Saunders and his Piggly Wiggly stores, the first of which opened in 1916. Saunders was awarded several patents for the ideas he incorporated into his stores. The stores were a financial success and Saunders began to offer franchises. The Great Atlantic & Pacific Tea Company, which was established in 1859, was another successful early grocery store chain in Canada and the United States, and became common in North American cities in the 1920s. Early self-service grocery stores did not sell fresh meats or produce. Combination stores that sold perishable items were developed in the 1920s. The general trend since then has been to stock shelves at night so that customers, the following day, can obtain their own goods and bring them to the front of the store to pay for them. Although there is a higher risk of shoplifting, the costs of appropriate security measures ideally will be outweighed by reduced labor costs. Historically, there has been debate about the origin of the supermarket, with King Kullen and Ralphs of California having strong claims. Other contenders included Weingarten's and Henke & Pillot. To end the debate, the Food Marketing Institute in conjunction with the Smithsonian Institution and with funding from H.J. Heinz, researched the issue. They defined the attributes of a supermarket as "self-service, separate product departments, discount pricing, marketing and volume selling". They determined that the first true supermarket in the United States was opened by a former Kroger employee, Michael J. Cullen, on 4 August 1930, inside a 6,000-square-foot (560 m2) former garage in Jamaica, Queens in New York City. The store, King Kullen, operated under the slogan "Pile it high. Sell it low." At the time of Cullen's death in 1936, there were seventeen King Kullen stores in operation. Although Saunders had brought the world self-service, uniform stores, and nationwide marketing, Cullen built on this idea by adding separate food departments, selling large volumes of food at discount prices and adding a parking lot. Other established American grocery chains in the 1930s, such as Kroger and Safeway Inc. at first resisted Cullen's idea, but eventually were forced to build their own supermarkets as the economy sank into the Great Depression, while consumers were becoming price-sensitive at a level never experienced before. Kroger took the idea one step further and pioneered the first supermarket surrounded on all four sides by a parking lot. As larger chain supermarkets began to dominate the market in the US, able to supply consumers with the desired lower prices as opposed to the smaller "mom and pop" stands with considerably more overhead costs, the backlash of this infrastructure alteration was seen through numerous anti-chain campaigns. The idea of "monopsony", proposed by Cambridge economist Joan Robinson in 1933, that a single buyer could out-power the market of multiple sellers, became a strong anti-chain rhetorical device. With public backlash came political pressure to even the playing field for smaller vendors without the luxuries of economies of scale. In 1936, the Robinson-Patman Act was implemented as a way of preventing such larger chains from using this buying power to reap advantages over smaller stores, although the act was not well enforced and did not have much impact on the prevention of larger chains overtaking power in the markets. Supermarkets proliferated across Canada and the United States with the growth of automobile ownership and suburban development after World War II. Most North American supermarkets are located in suburban strip shopping centers as an anchor store along. They are generally regional rather than national in their company branding. Kroger is perhaps the most nationally oriented supermarket chain in the United States but it has preserved most of its regional brands, including Ralphs, City Market, King Soopers, Fry's, Smith's, and QFC. In Canada, the largest such company is Loblaw, which operates stores under a variety of banners targeted to different segments and regions, including Fortinos, Zehrs, No Frills, the Real Canadian Superstore, and Loblaws, the foundation of the company. Sobeys is Canada's second largest supermarket with locations across the country, operating under many banners (Sobeys IGA in Quebec). Québec's first supermarket opened in 1934 in Montréal, under the banner Steinberg's. In the United Kingdom, self-service shopping took longer to become established. Even in 1947, there were just ten self-service shops in the country. In 1951, ex-US Navy sailor Patrick Galvani, son-in-law of Express Dairies chairman, made a pitch to the board to open a chain of supermarkets across the country. The UK's first supermarket under the new Premier Supermarkets brand opened in Streatham, South London, taking ten times as much per week as the average British general store of the time. Other chains caught on, and after Galvani lost out to Tesco's Jack Cohen in 1960 to buy the 212 Irwin's chain, the sector underwent a large amount of consolidation, resulting in 'the big four' dominant UK of today: Tesco, Asda (owned by Wal-Mart), Sainsbury's and Morrisons. In the 1950s, supermarkets frequently issued trading stamps as incentives to customers. Today, most chains issue store-specific "membership cards", "club cards", or "loyalty cards". These typically enable the cardholder to receive special members-only discounts on certain items when the credit card-like device is scanned at check-out. Sales of selected data generated by club cards is becoming a significant revenue stream for some supermarkets. Traditional supermarkets in many countries face intense competition from discounters such as Wal-Mart, Aldi and Lidl, which typically is non-union and operates with better buying power. Other competition exists from warehouse clubs such as Costco that offer savings to customers buying in bulk quantities. Superstores, such as those operated by Wal-Mart and Asda, often offer a wide range of goods and services in addition to foods. In Australia, Aldi, Woolworths and Coles are the major players running the industry with fierce competition among all the three. The rising market share of Aldi has forced the other two to cut prices and increase their private label product ranges. The proliferation of such warehouse and superstores has contributed to the continuing disappearance of smaller, local grocery stores; increased dependence on the automobile; suburban sprawl because of the necessity for large floor space and increased vehicular traffic. For example, in 2009 51% of Wal-Mart's $251 billion domestic sales were recorded from grocery goods. Some critics consider the chains' common practice of selling loss leaders to be anti-competitive. They are also wary of the negotiating power that large, often multinationals have with suppliers around the world. Online-only supermarkets (21st century) During the dot-com boom, Webvan, an online-only supermarket, was formed and went bankrupt after three years and was acquired by Amazon. The British online supermarket Ocado, which uses a high degree of automation in its warehouses, was the first successful online-only supermarket. Ocado expanded into providing services to other supermarket firms such as Waitrose and Morrisons. Delivery robots are offered by various companies partnering with supermarkets. Micro-fulfillment centers (MFC) are relatively small warehouses with sophisticated automated rack-and-tote systems which prepare orders for pickup and delivery. Once the order is complete, the customer will pick it up (i.e. "click-and-collect") or have it fulfilled via home delivery. Supermarkets are investing in micro-fulfillment centers with the hope that automation can help reduce the costs of online commerce and ecommerce by shortening the distances from store to home and speeding up deliveries. In short, MFCs are said by many to be the key to profitably fulfilling online orders. The U.S. FMI food industry association, drawing on research by Willard Bishop, defines the following formats (store types) that sell groceries: \|Store type\|\|Definition as per the U.S. FMI Food Industry Association/Bishop\| \|Traditional supermarket\|\|Stores offering a full line of groceries, meat, and produce with at least 2 million USD in annual sales and up to 15% of their sales in general merchandise (GM) and health & beauty care (HBC). These stores typically carry anywhere from 15,000 to 60,000 SKUs (depending on the size of the store), and may offer a service deli, a service bakery, and/or a pharmacy.\| \|Fresh format\|\|Different from traditional supermarkets and traditional natural food stores, fresh stores emphasize perishables and offer center-store assortments that differ from those of traditional retailers—especially in the areas of ethnic, natural,and organic, e.g., Whole Foods, The Fresh Market, and some independents.\| \|Limited-assortment discount format\|\|A low-priced value-for-money grocery store that offers a limited assortment of center-store and perishable items (fewer than 2,000 SKUs), e.g., Aldi, Lidl, Trader Joe's, and Save-A-Lot.\| \|Super warehouse\|\|A high-volume hybrid of a large traditional supermarket and a warehouse store. Super warehouse stores typically offer a full range of service departments, quality perishables, and reduced prices, e.g., Cub Foods, Food 4 Less, and Smart & Final.\| \|Other (Small Convenience Grocery)\|\|The small corner grocery store that carries a limited selection of staples and other convenience goods. These to-go stores generate approximately $1 million in business annually, e.g. Seven-eleven, FamilyMart, Alfamart\| \|Wholesale club\|\|A membership retail/wholesale hybrid with a varied selection and limited variety of products presented in a warehouse-type environment. These approximately 120,000 square-foot stores have 60% to 70% GM/HBC and a grocery line dedicated to large sizes and bulk sales. Memberships include both business accounts and consumer groups, e.g., Sam's Club, Costco, and BJ's.\| \|Supercenters\|\|A hybrid of a large traditional supermarket and a mass merchandiser. Supercenters offer a wide variety of food, as well as non-food merchandise. These stores average more than 170,000 square feet and typically devote as much as 40% of the space to grocery items, e.g., Walmart Supercenters, Super Target, Meijer, and The Kroger Marketplace stores.\| \|Variety store\|\|A small store format that traditionally sold staples and knickknacks, but now sales of food and consumable items at aggressive price points that account for at least 20%, and up to 66%, of their volume, e.g., Dollar General, Dollar Tree, Action, Pepco, Poundland and Family Dollar.\| \|Drug store\|\|A prescription-based drug store that generates 20% or more of its total sales from consumables, general merchandise, and seasonal items. This channel includes major chain drug stores such as Walgreens, DM, AS Watson and CVS.\| \|Mass merchandiser\|\|A large store selling primarily hardlines, clothing, electronics, and sporting goods but also carries grocery and non-edible grocery items. This channel includes traditional Walmart, Kmart, and Target.\| \|Military (commissaries)\|\|A format that looks like a conventional grocery store carrying groceries and consumables but is restricted to use by active or retired military personnel. Civilians may not shop at these stores (referred to as commissaries).\| \|E-Commerce (food and consumables)\|\|Food and consumable products ordered using the internet via any devices, regardless of the method of payment or fulfillment. This channel includes Amazon and Peapod as well as the E-Commerce business generated by traditional brick & mortar retailers, e.g., Coborns (Coborns Delivers) and ShopRite (ShopRite from Home and ShopRite Delivers). The other non-traditional retail segments above include their E-Commerce business.\| Organic and environmentally-friendly supermarkets Some supermarkets are focusing on selling more (or even exclusively) organically certified produce. Others are trying to differentiate themselves by selling fewer (or no) products containing palm oil. This as the demand of palm oil is a main driver for the destruction of rainforests. As a response to the growing concern on the heavy use of petroleum-based plastics for food packaging, so-called "zero waste" and "plastic-free" supermarkets and groceries are on the rise. Growth in developing countries Beginning in the 1990s, the food sector in developing countries has rapidly transformed, particularly in Latin America, South-East Asia, India, China and South Africa. With growth, has come considerable competition and some amount of consolidation. The growth has been driven by increasing affluence and the rise of a middle class; the entry of women into the workforce; with a consequent incentive to seek out easy-to-prepare foods; the growth in the use of refrigerators, making it possible to shop weekly instead of daily; and the growth in car ownership, facilitating journeys to distant stores and purchases of large quantities of goods. The opportunities presented by this potential have encouraged several European companies to invest in these markets (mainly in Asia) and American companies to invest in Latin America and China. Local companies also entered the market. Initial development of supermarkets has now been followed by hypermarket growth. In addition there were investments by companies such as Makro and Metro Cash and Carry in large-scale Cash-and-Carry operations. While the growth in sales of processed foods in these countries has been much more rapid than the growth in fresh food sales, the imperative nature of supermarkets to achieve economies of scale in purchasing means that the expansion of supermarkets in these countries has important repercussions for small farmers, particularly those growing perishable crops. New supply chains have developed involving cluster formation; development of specialized wholesalers; leading farmers organizing supply, and farmer associations or cooperatives. In some cases supermarkets have organized their own procurement from small farmers; in others wholesale markets have adapted to meet supermarket needs. Typical supermarket merchandise Larger supermarkets in North America and in Europe typically sell many items among many brands, sizes and varieties. U.S. publisher Supermarket News lists the following categories, for example: Hypermarkets have a larger range of non-food categories such as clothing, electronics, household decoration and appliances. - Bakery (packaged and sometimes a service bakery and/or onsite bakery) - Beverages (non-alcoholic packaged, sometimes also alcoholic if laws permit) - Nonfood & Pharmacy (e.g. cigarettes, lottery tickets and over-the-counter medications (as laws permit), DVD rentals, books and magazines, including supermarket tabloids, greeting cards, small selection of home goods like light bulbs, housewares (typically limited) - Personal care e.g. cosmetics, soap, shampoo - Produce (fresh fruits and vegetables) - Floral (flowers and plants) - Deli (sliced meats, cheeses, etc.) - Prepared Foods (packaged and frozen foods) - Meat (fresh packaged, frozen, sometimes with a butcher service counter) - Seafood (fresh packaged, frozen, sometimes with a butcher service counter) - Dairy (milk products and eggs) - Center store (e.g. detergent, paper products, household cleaning supplies) - Multicultural (ethnic foods) - Bulk dried foods Most merchandise is already packaged when it arrives at the supermarket. Packages are placed on shelves, arranged in aisles and sections according to type of item. Some items, such as fresh produce, are stored in bins. Those requiring an intact cold chain are in temperature-controlled display cases. While branding and store advertising will differ from company to company, the layout of a supermarket remains virtually unchanged. Although big companies spend time giving consumers a pleasant shopping experience, the design of a supermarket is directly connected to the in-store marketing that supermarkets must conduct to get shoppers to spend more money while there. Every aspect of the store is mapped out and attention is paid to color, wording and even surface texture. The overall layout of a supermarket is a visual merchandising project that plays a major role. Stores can creatively use a layout to alter customers' perceptions of the atmosphere. Alternatively, they can enhance the store's atmospherics through visual communications (signs and graphics), lighting, colors, and even scents. For example, to give a sense of the supermarket being healthy, fresh produce is deliberately located at the front of the store. In terms of bakery items, supermarkets usually dedicate 30 to 40 feet of store space to the bread aisle. Supermarkets are designed to "give each product section a sense of individual difference and this is evident in the design of what is called the anchor departments; fresh produce, dairy, delicatessen, meat and the bakery". Each section has different floor coverings, style, lighting and sometimes even individual services counters to allow shoppers to feel as if there are a number of markets within this one supermarket. Marketers use well-researched techniques to try to control purchasing behavior. The layout of a supermarket is considered by some to consist of a few rules of thumb and three layout principles. The high-draw products are placed in separate areas of the store to keep drawing the consumer through the store. High impulse and high margin products are placed in the most predominant areas to grab attention. Power products are placed on both sides of the aisle to create increased product awareness, and end caps are used to receive a high exposure of a certain product whether on special, promotion or in a campaign, or a new line. The first principle of the layout is circulation. Circulation is created by arranging product so the supermarket can control the traffic flow of the consumer. Along with this path, there will be high-draw, high-impulse items that will influence the consumer to make purchases which they did not originally intend. Service areas such as restrooms are placed in a location which draws the consumer past certain products to create extra buys. Necessity items such as bread and milk are found at the rear of the store to increase the start of circulation. Cashiers' desks are placed in a position to promote circulation. In most supermarkets, the entrance will be on the right-hand side because some research suggests that consumers who travel in a counter-clockwise direction spend more. However, other researchers have argued that consumers moving in a clockwise direction can form better mental maps of the store leading to higher sales in turn. The second principle of the layout is coordination. Coordination is the organized arrangement of product that promotes sales. Products such as fast-selling and slow-selling lines are placed in strategic positions in aid of the overall sales plan. Managers sometimes place different items in fast-selling places to increase turnover or to promote a new line. The third principle is consumer convenience. The layout of a supermarket is designed to create a high degree of convenience to the consumer to make the shopping experience pleasant and increase customer spending. This is done through the character of merchandising and product placement. There are many different ideas and theories in relation to layout and how product layout can influence the purchases made. One theory suggests that certain products are placed together or near one another that are of a similar or complementary nature to increase the average customer spend. This strategy is used to create cross-category sales similarity. In other words, the toothpaste is next to or adjacent the toothbrushes and the tea and coffee are down the same aisle as the sweet biscuits. These products complement one another and placing them near is one-way marketers try to increase purchases. For vertical placement, cheap generic brands tend to be on the lowest shelves, products appealing to children are placed at the mid-thigh level, and the most profitable brands are placed at eye level. Consumer psychologists suggest that most buyers tend to enter the store and shop to their right first. Some supermarkets, therefore, choose to place the entrance to the left-hand side as the consumer will likely turn right upon entry, and this allows the consumer to do a full anticlockwise circle around the store before returning to the checkouts. This suggests that supermarket marketers should use this theory to their advantage by placing their temporary displays of products on the right-hand side to entice you to make an unplanned purchase. Furthermore, aisle ends are extremely popular with product manufacturers, who pay top dollar to have their products located there. These aisle ends are used to lure customers into making a snap purchase and to also entice them to shop down the aisle. The most obvious place supermarket layout influences consumers are at the checkout. Small displays of chocolates, magazines, and drinks are located at each checkout to tempt shoppers while they wait to be served. - The large scale of supermarkets, while often improving cost and efficiency for customers, can place significant economic pressure on suppliers and smaller shopkeepers. - Supermarkets often generate considerable food waste, although modern technologies such as biomethanation units may be able to process the waste into an economical source of energy. Also, purchases tracking may help as supermarkets then become better able to size their stock (of perishable goods), reducing food spoilage. - List of grocers - Short food supply chains - Types of retail outlets - Effects of the car on societies - "Grocery". Oxford Learner's Dictionary. Retrieved 13 July 2020. - "Grocery store". Merriam-Webster Dictionary. Retrieved 13 July 2020. - Meyer, Zlati (5 April 2017). "Why 'Grocerants' are the new trend, taking bite out of restaurants". USA Today. Retrieved 6 April 2017. The phenomenon is growing fast enough both in prevalence and sophistication that the food industry has coined a name for these combination grocery stores and eateries – the 'grocerant.' - Vadini, Ettore (28 February 2018). Public Space and an Interdisciplinary Approach to Design. ISBN 9788868129958. - "Opening of the Astor market, New York City, 1915". Library of Congress. 1915. - "The Retailer". The Western Fruit Jobber. Vol. IV no. 3. July 1917. - Gray, Christopher (10 September 2006). "The Astor Legacy in Brick and Stone". The New York Times. - Gray, Christopher (5 July 1987). "Streetscapes: Thalia Theater; a closed revival house that may itself be revived". The New York Times. - "Self-serving store". - "Lighting system for self-serving stores". - "Self-serving store". - "Arrangement and construction of store fixtures". - "September 6, 1916: The first supermarket opens for business". Knappily.[permanent dead link] - "Ralphs Grocery Company". groceteria.com. 5 February 2009. - Burke, Dana (1 May 2020). "Old timey Houston grocery stores – Did you shop at any of these?". Houston Chronicle. - "The Birth of the Supermarket". - Ryan Mathews, "1926–1936: Entrepreneurs and Enterprise: A Look at Industry Pioneers like King Kullen and J. Frank Grimes, and the Institution They Created (Special Report: Social Change & the Supermarket)," Progressive Grocer 75, no. 12 (December 1996): 39–43. - Hamilton, Shane Supermarkets, Free markets, and the Problem of Buying Power in the Postwar United States, in What's Good For Business: Business and Politics Since World War II, ed. Julian Zelizer and Kim Phillips-Fein (Oxford University Press, 2012). - "Steinberg Inc". The Canadian Encyclopedia - Hamlett, Jane (April 2008). "Regulating UK supermarkets: an oral-history perspective". United Kingdom: History & Policy. Archived from the original on 7 August 2011. Retrieved 9 December 2010. - Helen Gregory (3 November 2001). "It's a super anniversary: it's 50 years since the first full size self-service supermarket was unveiled in the UK". The Grocer. Archived from the original on 8 July 2012. Retrieved 30 June 2010. - Mauri, Chiara (2003). "Card loyalty. A new emerging issue in grocery retailing". Journal of Retailing and Consumer Services. 10 (1): 13–25. doi:10.1016/S0969-6989(02)00036-X. - "Supermarkets and Grocery Stores – Australia Market Research Report". - Csipak, James J., Rohit Rampal, and Laurent Josien. "The Effect of a Wal-Mart Supercenter On Supermarket Food Prices: The Case Of The City Of Plattsburgh In Upstate New York." Academy Of Marketing Studies Journal 2 (2014): 251. Academic OneFile. Web. 5 November 2015. - Moulds, Josephine (25 June 2015). "Supermarkets behaving badly – how suppliers can get a fairer deal". The Guardian. - "On Demand". Supermarket Secrets. Series 3. Episode 2. 30 April 2019. BBC. BBC One. - DoorDash and Walmart join forces - Abel, Carol (9 August 2019). "The Small, But Mighty, Micro-fulfillment Center". Food Marketing Institute. Retrieved 11 May 2020.[permanent dead link] - Dudlicek, Jim (17 March 2020). "Digital-First Grocery: A Look Inside Micro Fulfillment at Albertsons". Progressive Grocer. Archived from the original on 14 April 2020. Retrieved 11 May 2020. - Smith, Jennifer (27 January 2020). "Grocery Delivery Goes Small With Micro-Fulfillment Centers". The Wall Street Journal. Retrieved 11 May 2020. - [https://www.fmi.org/our-research/supermarket-facts Willard Bishop. The Future of Food Retailing, 2014, as referenced in "Supermarket facts", FMI site, accessed July 13, 2020] - The Organic Retail Revolution - Organic food sector booming in France - Iceland to be first UK supermarket to cut palm oil from own-brand products - Grocery stores are packed with plastic. Some are changing. - Britain's first plastic-free supermarket zones open - The Rise of ‘Zero-Waste’ Grocery Stores - Thomas Reardon, Peter Timmer and Julio Berdegue, 2004. "The rapid rise of supermarkets in developing countries"[permanent dead link]. Journal of Agricultural and Development Economics, Vol 1 No 2. - Reardon et al, op cit - Kevin Chen, Andrew W. Shepherd & Carlos A. da Silva, "Changes in food retailing in Asia". - Andrew W. Shepherd and Eva Gálvez. "The response of traditional marketing channels to the growth of supermarkets and to the demand for safer and higher quality fruit and vegetables, with particular reference to Asia". Proceedings of the International Symposium on Fresh Produce Supply Chain Management, Chiang Mai 2006. pp. 304–313. FAO, Bangkok. - "Product Categories", Supermarket News, accessed July 15, 2020 - Gajanayake, R., Gajanayake, S., Surangi, H 2011, "The impact of selected visual merchandising techniques on patronage intentions in supermarkets", International Conference on Business and Economic Research, p. 1130–1165 - "NACS Magazine – Category Close Up: Take Bread to the Bank". nacsonline.com. Archived from the original on 23 February 2012. Retrieved 6 December 2011. - Browne, Karen (April 2010). "Trolley Psychology: Choice unlocks the psychological secrets of the supermarket and shows you how to avoid spending more than you mean to". Australian Consumer's Association Choice Magazine (4): 60. - Aghazedah, S 2005, "Layout strategies for some of the operations", Management Research News, vol. 28, no. 10, pp. 31–46. Retrieved 8 May 2012, Business Source Complete, EBSCO host. - Groeppel-Klein, Andrea; Bartmann, Benedikt (2009). "Turning Bias and Walking Patterns: Consumers' Orientation in a Discount Store". Marketing ZFP. 31 (JRM 1): 43–56. doi:10.15358/0344-1369-2009-JRM-1-43. - Park, Michael Y. (30 October 2014). "How to Buy Food: The Psychology of the Supermarket". Bon Appetit. Retrieved 27 February 2017. - Bezawada, R Balachander, S Kannan, PK Venkatesh, S 2009, "Cross-Category Effects of Aisle and Display Placements: A Spatial Modeling Approach and Insights", Journal of Marketing, vol. 73, no. 3, pp. 99–117, 3 May 2012, Business Source Complete. - Simple, By Yelena Moroz Alpert, Real. "How color affects your spending – CNN". CNN. Retrieved 3 March 2018. - Browne, 2010 - Bucklin, Louis P. (November 1967). "Competitive Impact of a New Supermarket". Journal of Marketing Research. 4 (4): 356–361. doi:10.2307/3149873. JSTOR 3149873. - "Senate takes look at slotting fees". Associated Press. 15 September 1999. - "Unfair trading practices / supply chain". European Economic and Social Committee. 11 July 2013. - "Ten Reasons Supermarket Mergers Are Bad for Consumers" (Press release). Friends of the Earth. 13 January 2003. Archived from the original on 5 April 2004.CS1 maint: unfit URL (link) - "Growers demand inquiry, ombudsman sought". TVNZ. 5 July 2010. Archived from the original on 8 July 2010.CS1 maint: unfit URL (link) - Mukherjee SN, Kumar S (December 2007). "Leachate from market refuse and biomethanation study". Environmental Monitoring and Assessment. 135 (1): 49–53. doi:10.1007/s10661-007-9703-5. PMID 17505906. S2CID 11008308. - "Methanisatie – 2009, het jaar van de biomethanisering?". energymag.be. 15 September 2014. Archived from the original on 15 September 2014. - "Biomethanation". Asia Biomass Handbook. Japan Institute of Energy. 2008. Archived from the original (PDF) on 2 June 2015. Retrieved 11 August 2017. "September 6, 1916: The first supermarket opens for business". Knappily.[permanent dead link] should be removed. Coz this is a dead link. - Greer, William R.; Logan, John A.; Willis, Paul S. (1986). America the Bountiful: How the Supermarket Came to Main Street : an Oral History. Washington, D.C.: Food Marketing Institute in cooperation with Beatrice Companies. OCLC 14357784. - Petroski, Henry (November–December 2005). "Shopping by Design". American Scientist 93 (6): 491. - Sowell, Thomas. Basic Economics (Third Edition, 2007 Basic Books). Pages 92–94 describe the competition between the dominant grocery chains in the United States through the 20th century and beyond. \|Wikimedia Commons has media related to Supermarkets.\| - Food Stories – Explore a century of revolutionary change in UK food culture on the British Library's Food Stories website - groceteria.com – supermarket history and architecture from the 1920s to the 1970s - Scrambling for customers, 4 August 2005, San Francisco Chronicle - Supermarket (store) at the Encyclopædia Britannica
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9439949989318848, "language": "en", "url": "https://magazine.marsmasters.com/smart-contracts-a-possible-shake-up-in-traditional-contract-law/", "token_count": 1171, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.134765625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:1b40e5c8-5377-4f37-818f-499947af3f04>" }	What Are Smart Contracts? There is a great deal of excitement surrounding this technology. Smart contracts have the potential to be traceable, transparent, and irreversible. As for security, they can record an undisputable history of changes and verify electronic signatories. Scalability and lower compliance costs are also important benefits to consider when looking at the future of this field. With these benefits in mind, you’re probably wondering how it all works. Smart contracts are made up of code, which can self-execute and enforce an agreement. The entire process is automated via a ‘distributed ledger’. The same copy of the contract is downloaded onto every computer for all users to see. This results in a secure system, as any manipulation can be seen by others. Mutual trust is created between the parties, as the execution of the agreement is certain if the negotiated conditions are met. Therefore, intermediaries are no longer needed when agreeing to a contract. Smart contracts can define the obligations for both parties in deterministic code, leaving no ambiguity in the case of a disagreement. Translating a Contract into Code So, why aren’t traditional paper contracts fading into obscurity? Since the code behaves in a pre-defined way, it doesn’t have the linguistic nuances of human languages. Negotiated terms of a contract might not be binary in their language, and therefore they can’t be assessed deterministically by a computer program. It’s very difficult to translate the concept of reasonableness into code, for example. Since smart contracts are basically executing a particular code base, it’s difficult to decipher the context surrounding the agreement. What if it was signed under duress, or one of the parties was under age? This complicates the implementation of smart contracts, and creative solutions will need to be found to eliminate these potential pit falls. Where Could They Be Used? The technology works best when there is a set of deterministic obligations. An ‘escrow’ mechanism, where money is paid to a trusted third party stakeholder and then released under certain specific conditions, is where the smart contract industry is showing greatest promise. As we progress into the future, it’s important to consider how autonomous smart devices will conduct business. For example, how will a washing machine buy its own detergent? Machine-to-machine commerce is just on the horizon, and human intervention for each individual contract would be cumbersome. Smart contracts would fit this role neatly, taking the burden off those who usually sign and oversee these types of agreements. Another sector of the industry that’s gathering some steam are smart financial instruments. Shares, bonds, and derivatives contracts are ripe for a technological revolution. It’s even possible that intellectual property could be stored and traded over a distributed ledger. The music industry, for example, could use smart contracts to automatically keep track of ownership of material to facilitate licensing and royalties. The Risks of Implementation Despite a bright future, this technology doesn’t operate without a degree of risk. With most things digital, cyber-attacks always have a presence. The Distributed Autonomous Organisation (DAO) was a smart contract intended to pool investment funds. At one point, it had over $150 million worth of cryptocurrency. A hacker spotted a mistake in the programming and subsequently drained its funds. Rather than infiltrating the smart contract’s security measures, the hacker simply noticed a loophole within the code. This is similar to how some traditional contracts can be manipulated with their own loopholes. Even with this new technology it seems that human error will remain a risk. Regulation and enforceability are also relevant when examining limitations of the platform. Currently, smart contracts aren’t regulated in Ireland, with no relevant case law to date. Kevin O’Brien of the Central Bank of Ireland said, “If we cannot understand it, we cannot supervise it, and if we cannot supervise it, we cannot authorise it”. However, Italy has recently taken steps to implement a legal framework for smart contracts with Law Decree No. 135/2018. The Relationship between Traditional and Smart Contracts Academics at Oxford University have suggested having a traditional contract act as a ‘legal wrapper’, which sets out the terms that can’t be effectively translated into code. Commercial agreements regularly have clauses and protections for both parties. Most of these clauses won’t be suitable for a smart contract’s binary code, and will require the deft hand of human intervention. Examples would include the right to terminate a contract, or take a particular action because of a ‘material adverse event’. The smart contract would then be used to execute deterministic terms. This could include an obligation to pay a certain amount of money at a fixed time. The legal wrapper would then reference the smart contract code, thus binding the two elements of the agreement together. If a conflict between the two occurs, the traditional contract would likely take primacy. It’s also important to consider a ‘fail-safe’ in the code that allows for termination in certain pre-determined scenarios. The legal wrapper could incorporate this into the agreement. This hybrid model of paper and code seems to be the way contract law is heading when it comes to smart contracts. While smart contracts offer many benefits, they aren’t ready to make traditional contracts obsolete just yet. Translating the nuances of human language is a giant technological hurdle to overcome, and risks are still present when it comes to cybercrime and regulation. Regardless, all lawyers and others with an interest in commercial contracts should keep an eye on this area in the coming years.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9486426115036011, "language": "en", "url": "https://sustainableagriculture.net/blog/more-funding-available-for-fruits-and-veggies-through-specialty-crop-grant/", "token_count": 670, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1669921875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:04f1189c-e4f4-48ba-b01a-f47c266dddd7>" }	March 11, 2016 The term “specialty crop” is a bit of a misnomer. A specialty crop is not some kind of exotic plant, not an obscure herb or flower, specialty crops are quite simply the fruits and vegetables that are (or should be) a staple of most diets. Even though specialty crops consist of some of the healthiest foods for us to eat, they are often left out in the cold when it comes to attention from government programs. Thankfully, as demand for fresh, local foods has increased, so too has support for and funding of programs for specialty crops. On Wednesday March 9 the United States Department of Agriculture (USDA) Agricultural Marketing Service’s (AMS) announced the availability of over $62 million in funding for the Specialty Crop Block Grant Program (SCBGP) in fiscal year 2016. AMS also announced $26 million in funding would be made available for the Farmers Market and Local Food Promotion Program (FMLFPP). SCBGP provides grants on an annual basis to assist state departments of agriculture in enhancing the competitiveness of specialty crops. To receive grants, states must submit an application to AMS outlining how the grant funds would be spent. States regularly partner with nonprofit organizations, producer groups, and colleges and universities to develop their applications and administer their programs. SCBGP funding is allocated to U.S. States and territories each year based on a formula that considers both specialty crop acreage and production value. States can use the block grants to supplement state-run specialty crop programs. They can also use them for projects that enhance the competitiveness of specialty crops, such as locally grown fruits and vegetables, through research and programs designed to increase demand. SCBGP funds can support a wide array of projects including: value-added processing businesses, food hub development, farmer food safety training, and farm to school initiatives. State departments of agriculture must submit their applications to AMS by July 6, 2016. USDA encourages states to submit projects related to the following priority areas: Improving Producer Capacity to Comply with FSMA One priority area that is particularly timely given the Food and Drug Administration’s (FDA) recent changes to FSMA rules, are those projects that improve specialty crop producers’ capacity to comply with the new requirements –specifically with the new FSMA Produce Rule. NSAC encourages prospective applicants to seriously consider projects from this priority area. Complying with food safety rules is critical to the ability of small and mid sized farmers to be successful, and in order to comply many farmers will need access to FSMA education and training programs. Under the FSMA priority area, USDA is encouraging projects that enhance food safety broadly and improve the capacity of all entities in the specialty crop distribution chain to comply with FSMA requirements. According to the USDA, preferred projects would develop “good agricultural practices, good handling practices, good manufacturing practices”. In the case of cost-share arrangements, preferred projects would fund audits of such systems for small farmers, packers and processors. Organizations interested in applying for SCBGP funds should do so directly through their state department of agriculture. A listing of state contacts and how to apply with state application due dates, can be found here.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9585227966308594, "language": "en", "url": "https://valuefronteira.com/a-firm-level-path-to-africas-prosperity/", "token_count": 2132, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.439453125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:0e83ee77-f33f-4b32-88cf-b8037adc9672>" }	By Nnanyelugo Ike-Muonso The firms are, without a doubt, the powerhouses of prosperity. As the centre core for the creation of output, it provides wage income for members of the household. Through commercial exchanges and economic interconnectedness, they create other income-making opportunities for many business units. It also gives the government the fiscal power to carry out obligations and mandates. The most intriguing aspect of the firm is its entrepreneurial role in the organization of factor resources for production and profit-making. Firms comprise one person or more extensive systems of entrepreneurs burdened with effectively allocating the factors of production in such a way as to produce competitively. Allocative efficiency of factor resources is usually rewarded with a profit or penalized with losses. This allocative role is where the firm plays its most strategic position in prosperity creation. By seeking and obtaining resources for deployment in production, the firm sets in motion a chain of commercially viable exchanges between the buyers and sellers of those resources. That triggers a system which implicitly perpetuates the prosperity engineering process. Individual wage earners and investors who commit their resources in the process as well as the government benefits. The community benefits as well. Therefore, through the lucrative performance of firms, the macroeconomic goals of the country are achieved. Two of those goals are quite distinct. The first is the growth rate of production. The gross domestic product, GDP, is unarguably the most widely tracked indicator of economic progress for any country. It grosses the total value of the output of the country. Although most economic activities take place at the level of individuals, nevertheless the totality of production value by the firms are always higher. This magnitude of firm value is particularly true when both formal and informally operating business units are in consideration. And typical of its structuring, firms engage lots of human resources to coordinate its production effectively. Human resources are typically required to activate and coordinate every other factor of production. That way, the firm demonstrates unequal capacity in facilitating the achievement of the macroeconomic goal of employment. The less the number of firms in a country, the more of a consumer economy that country will be. In effect, therefore facilitating the growth of many firms invariably makes the country produce more as well as have the capacity to consume more. Many African countries such as Nigeria live-off one of their critical natural resource endowments and deploy the revenue realized from it in subsidizing massive consumption rather than production. Government revenue is also largely derivable from the taxes that firms pay. Therefore, firms invariably sustain the fiscal life of the government. The higher the number of firms that are performing profitably well, the larger the potential size of governments’ realizable revenue. All things being equal, that also means the better the quality of government intervention in the provision of good governance and the rule of law. Facilitating a highly clement environment for firm growth is perhaps the most feasible way of attracting foreign direct and portfolio investments. The elevated level of governance risks in Africa adversely affects the inflow of these direct investments. Insecurity, inadequate private property rights protection, government official corruption, and inconsistent policy implementation all contribute to a highly uncertain environment for businesses that cancel off much of the incentives for private investment inflows into the continent. Inadequate public goods provisioning, which heightens the costs of production, is also a significant hindrance. Recognizing by necessary policy action that speedy growth of firms equally means the rapid decline in unemployment and the upward growth of per capita income is primary for those who man the statecraft in Africa. By referencing the market and in turn, strengthening the market in its factor resource allocation, firms play a critical role in entrepreneurial prosperity creation. Entrepreneurial rivalry and the prosperity that rides on the back of it become possible through the market system. The healthier the market environment and the policies that support it, the greater the output, the employment, the income and possibly the overall socio-economic welfare of the citizens. Thes pluses are all due to the organizational agility of the firm, which benchmarks the market demand and supply conditions in acquiring and allocating factors of production. It also references the rivalry in the market in pushing its supplies when produced. In effect, the firms stand in the centre of the market, which is the heart of entrepreneurial prosperity. Strong pro-market policies and programs are critical for the survival and growth of firms in any economy. By implication, they are essential to sustained inflows of foreign private investments and economic growth. Prosperity effectively rides on the back of productivity. Pro-market policies enhance efficient production. Firms can access inputs at competitive prices and can, therefore produce and sell at competitive prices. By fostering price advantages, pro-market policies strengthen the export of locally produced goods which further supports prosperity. Every unit increase in the capacity of firms to produce, all things being equal, results in corresponding improvements in the financial prospects that are open to the government. The more the firms that are operating profitably, the greater the collectable taxes by the government. That also further enables the government to play its roles more effectively. The national income equation and the circular flow of the economy amply demonstrate the centrality of firms in national economic life. In the national income equation, firms represent the investment factor. Combined with the circular flow model, firms’ productive role in the generation of income used by the private and public consumption units is clarified. Taken together, it is undeniable that the country’s prosperity growth depends on how well the firms within it are doing. If they are in abundance, with approximately 80% of them being profitable, then it can easily be concluded that the quality of life in such a country will be relatively high given an equally high condition of the rule of law. But there is an area where the role of firms in the country’s prosperity equation is least emphasized. It is in the part that it plays in holding governments accountable. There are at least five diverse ways in which firms exercise this incredibly important economic responsibility. The first is through its civic and pressure group responsibility. Firms also by so doing sometimes influence political positions as well as affect specific standards in government operation. Thirdly, because of their more pronounced practice experience, they play better roles in both fashioning and suggesting the rules for competition as well as general industry regulations. Finally, because of their criticality in a country’s socio-economic success, they are in the centre of a country’s international economic diplomacy. Trade unions are collections of economic agents that are working together to achieve better conditions for the activities. It can be at the level of human resource factors within an organization. But it could as well be at the level of enterprises such as the Association of Stockbrokers, or the Union of Cobblers. Such enterprises deploy every means possible to get the government to fashion policies that are healthy for their long-run profitable growth. Often, they are better able to spot flaws in government policy prescriptions that may even have adverse consequences for their operations in the unforeseen future. Being made up of astute entrepreneurs, they have a better knack for scenario analysis and can puncture government programs that do not currently or prospectively work in their favour. These activities imply that they help to put the government indirectly in check. Some even go to the extent of influencing political outcomes. Though this may be frowned at, it nevertheless happens. Some firms go as far as furtively funding the political campaigns of candidates that they believe will be more favourable to the economic existence. Political candidates recognize this fact and try to carry them along. Even where there is no outright funding, trade unions with considerable numerical strength can also politically arm-twist government officials to enact favourable programs and policies. That way, business organizations successfully influence the standards in government operations. This is even more amplified because firms appear to be by far more efficient than the government. Forward-looking governments, therefore, sometimes leverage the knowledge and experiences of the more efficient firms in the design of the standards for the operations. For instance, in the first decade of the existence of the Nigerian Economic Summit Group, much of the goals of the summit appear to revolve around helping government officials to interact with and understand how to be efficient such that they could also create conditions that would enable private businesses to be more efficient as well. While it is possible to adapt and contextualize industry competition laws and regulations from other countries, active players within the industry in question usually provide better insights into the tweaking and adaptation of such competition rules. In some instances, industry players have completely developed standards for competition and fairness, which the governments’ regulating agency reviews with minor modifications. Consequently, by influencing the laws that govern competition in the industry, firms somehow handhold the government. Consider two examples in the Nigerian banking industry where Lamido Sanusi, the former chief executive of First Bank and the former chief executive officer of Zenith bank, became governors of the central bank of Nigeria. Of course, high wire politics must have been behind banks indirectly taking charge of the leadership of the regulatory mechanism for their industry. Again, most diplomatic efforts by countries are geared towards the defence of their firms. The government wants to facilitate firms’ access to more funds and investments and consequently embark on a series of discussions at multilateral and bilateral levels. Such diplomatic engagements also occur to enable the ease of exports of a firm’s goods and services. Because the welfare of the firm is also at the very centre of diplomatic exercises, it indirectly influences governance. Given the extraordinary importance of facilitating firm profitability performance, on the overall prosperity of the country, governments of Africa have at least four crucial incentives to provide for the good of the firms. The first is heightened provision of public goods, particularly those critical infrastructures such as electricity and roads that support high business performance. Others include favourable tax incentives, the enactment, and the implementation of robust pro-market policies as well as the effective promotion of the rule of law. The future of African businesses remains very bright if these four factors are given adequate attention. The reverse remains the case. However, firms in Africa need to go beyond production and profitable growth. They have a vital role to play in strengthening governance structures and the performance of governments in Africa. Much of Africa’s challenges, which adversely affect firm performance, are attributable to defective governance architecture. As already mentioned, business enterprises on the continent can better organize and lead in ways that will continuously put persons manning the statecraft under moderate pressure to work the rope of good governance.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9645708203315735, "language": "en", "url": "https://www.aflit.net/case-studies/malawi-zambia-and-zimbabwe/", "token_count": 150, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1298828125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:66143ef3-e78a-4366-b183-35d4835cbcc9>" }	Malawi, Zambia, and Zimbabwe Malawi, Zambia, and Zimbabwe share strong geographic, historic and economic ties. Their commonalities include being land locked facing high transportation costs and the colonial experience of governance by the British South Africa Company. Further, they have a history of integrated markets including large flows of labour migration and in the period 1953-63 they were joined in the Federation of Rhodesia and Nyasaland. However, they also represent three distinct types of colonial economies: the peasant based (Malawi), the mineral dependent (Zambia) and the settler society (Zimbabwe). In this comparative study, we investigate the three territories’ economic interaction as well as their varieties in long-term income inequality trends.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9275102615356445, "language": "en", "url": "https://www.americanexpress.com/us/foreign-exchange/articles/digitalization-of-international-trade-finance/", "token_count": 958, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.08154296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:31949b15-5057-40db-9cab-cf7305e993b6>" }	By Gianvito Grieco The letter of credit (LOC) is one of the most commonly used forms by parties during an international trade finance transaction. A letter of credit is a letter from a bank guaranteeing payment to a seller.2 If the buyer is unable to make the payment, the bank covers the remaining amount of the purchase. Letters of credits are provided in electronic or original paper format. Unlike the LOC, many functions and forms in trade finance have not gone paperless. A prime example is the bill of lading. A bill of lading is a legal document that serves as a receipt of shipment when goods are delivered. The document accompanies the shipped goods and is signed by a representative of the carrier, shipper and receiver.3 Historically, these documents have been prone to fraud because of the complicated shipping process involved, and the large number of parties involved in an international trade finance transaction. The fact that the bill of lading is in paper format has enticed fraudsters to fabricate fraudulent bills of lading, or find other means to steal cargo. Distributed ledger technology has a potential role in digitizing trade finance. While the idea of applying blockchain technology to international trade and commerce is not new, the pace of innovation in this area has recently increased. Blockchain, the technology behind decentralized cryptocurrencies like Bitcoin, is being used to simplify trade practices and solve the real world challenges presented by the current manual and paper-intensive processes being used. Blockchain has the potential to revolutionize the international trade finance industry by serving as a trustworthy intermediary. Blockchain uses a public ledger to track transactions and would reduce transaction costs by eliminating the need of an intermediary. Previously, the use of a trusted third party was the only means for mediating disputes, and preventing fraud. A study, cited by CNBC, found that during the first half of 2016, venture capital firms have invested $290 million in Blockchain technology.4 The digitalization of international trade finance provides an opportunity to streamline processes, reduce transaction time and cost, and mitigate fraud risk. Peter Wong, a founding chairman of IGTA, an organization created to share views and information on current issues impacting the treasury and finance profession, believes that the digitalization of trade finance will drive down the cost per unit of transacted revenue.5 Mr. Wong also added that the digitalization increases the transparency of receipt and payment flow information, which can “result in improved cash forecasting, streamlined credit collection efforts and more efficient deployment of working capital.” By doing so, digital trade finance “can be an enabler for entry into e-commerce.” However, the shift to digital is neither quick, nor simple. There are concerns regarding the feasibility of getting all of the parties to a trade finance transaction on board the digitalization wave. The reason for this concern is evident: many parties are involved. “Trade finance transactions involve multiple parties, such as shipping companies, chambers of commerce, insurers, customs authorities and inspection companies, all of whom must also move to electronic documentation and channels.” said Hari Janakiraman, the head of global core trade products at ANZ bank. Convincing all of the parties involved in international trade finance to digitalize their processes will take time and large investments. Digital is not new. However, the pace of investment and efforts aimed at digitalizing trade finance provides a powerful opportunity for innovation in this area. Gianvito Grieco has served in a variety of roles in investment banking, financial services, and law. Gianvito holds a Bachelor of Science in Finance from the University of Florida, and a Juris Doctor from Stetson University College of Law. He is also fluent in English, Italian, and Spanish. 1. Trade Finance: Developments and Issues, Bank for International Settlements, http://www.bis.org/publ/cgfs50.pdf. 2. What is a 'Letter of Credit', Investopedia, http://www.investopedia.com/terms/l/letterofcredit.asp. 3. Fraudulent Bills of Lading, Tamimi, http://www.tamimi.com/en/magazine/law-update/section-5/june-issue/fraudlent-bills-of-lading.html. 4. Blockchain Reaction, Juniper Research, http://www.juniperresearch.com/document-library/white-papers/blockchain-reaction. 5. The Treasurer, The Association of Corporate Treasurers, https://www.treasurers.org/node/310681. 1 833 319 7265
{ "dump": "CC-MAIN-2021-17", "language_score": 0.92696213722229, "language": "en", "url": "https://www.cariasean.org/asean-2/asean-economic-progress/asean-economic-progress-drivers/", "token_count": 1923, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.08056640625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:09faa6ae-820a-46db-8db2-718199e96521>" }	ASEAN Economic Progress: Drivers Published on 30 September 2019 ASEAN was formed in 1967 with five members namely Indonesia, Malaysia, the Philippines, Singapore, and Thailand with a combined GDP of US$23 billion. In 2016, ASEAN’s GDP was estimated to be US$2.6 trillion, making the region the sixth largest economy in the world if ASEAN was a country. In half a century, ASEAN’s membership has doubled, total population has increased by 3.5 times, while its GDP has expanded by 120-fold.1 Wealth has also increased. GDP per capita of Indonesia, Malaysia, Singapore, and Thailand grew by at least 3.5% annually from 1965 to 2015.2 Cambodia, Laos, Myanmar, and Vietnam (CLMV) recorded even higher rates of GDP per capita growth i.e., at least 5% from 1996 to 2016.3 Diverse economic growth patterns The diversity of the region’s economies is best captured by the difference in their GDP levels. The three largest ASEAN economies of Indonesia, Thailand and Malaysia collectively made up more than 64% of the region’s total GDP in 2018 (Figure 1.1). However, Singapore and Brunei rank the highest when it comes to the region’s GDP per capita as the countries lead the group by 5 and 3 times the regional average respectively in 2018 (Figure 1.2). Although CLMV economies have among the lowest GDP per capita in ASEAN, these countries are also the fastest growing, with an average GDP growth rate of 5.8% in 2018 compared to 3.8% for the ASEAN-6 economies (Figure 1.3).4 Driver 1: Impressive growth in the labour force Sufficient resources and an efficient capital transformation machinery gave rise to a large labour force in ASEAN which further propelled the region’s growth. In the span of 20 years (from 1995 to 2015), ASEAN’s labour force grew from 224 million to 326 million, a staggering rate of close to 46%, in part due to the inclusion of the CLMV (Cambodia, Laos, Myanmar and Vietnam) countries5 (Figure 2.1). According to projections, ASEAN’s labour market is expected to expand considerably, i.e., become the third largest labour force worldwide behind China and India by 2030.6 Driver 2: Rising productivity Accompanying labour force growth has been the rising labour productivity. From 2000 to 2016, ASEAN’s annual labour productivity has increased by about 69.1%, significantly higher than the global average growth of around 20%7 (Figure 2.2). However, while the growth in ASEAN’s labour productivity has been impressive, it is prudent to note that global labour productivity levels were 3.6 times ASEAN levels in 2016 based on the right vertical axis in Figure 2.2. As we will see in the next section, ASEAN’s lower labour productivity level will be an area of concern going forward if it continues to persist. Driver 3: High gross savings ASEAN, in particular the ASEAN-5 countries,8 has benefitted from consistent high gross national savings rates as compared to the global average. This trend can be observed when comparing the ASEAN-5 and the global average gross national savings rates from 2000 to 2018 (Figure 2.3). At a national level, as a percentage of GDP, Singapore saved 51% between 2000 to 2015, with equally impressive rates for Malaysia (40%), Indonesia (32%), and Thailand (30%) in the same period (Figure 2.4). According to McKinsey Global Institute, even as far back as during the late 1990s, Malaysia’s Employees Provident Fund accounted for 8% of domestic disposable income, while Singapore’s Central Provident Fund accounted for 15% respectively. 9 Driver 4: Low government debt Some aspects of the macroeconomic environment have also been especially supportive for the ASEAN-5 countries in the post-1997 Asian Financial Crisis era10. - In the decade since 2000, government debt as a percentage of GDP in the ASEAN-5 showed a general decline. The rates were also generally below that of emerging markets and much lower than those of developed economies11 (Figure 3.1). - In 2016, for example, the ASEAN-5 markets enjoyed government debt of 39.4% to GDP, lower than emerging markets (averaging 46.8%) and an even starker contrast to the G7 nations (averaging around 119.4%). Driver 5: Healthy levels of foreign reserves Additionally, healthy foreign reserve levels in ASEAN economies provided the necessary buffer to weather exchange rate and capital account uncertainties, especially in recent years.12 At over 80% of GDP (2017), Singapore enjoyed the highest levels of foreign reserves in the region (Figure 3.2). In comparison to Thailand that had healthy foreign reserves at 62% compared to GDP, Indonesia, with a much lower foreign reserves of 12% against GDP, showed stronger growth with Indonesia managing to catch up with Thailand’s 18% growth between 2014 and 2017 (Figure 3.3). Driver 6: Global FDI magnet With growing economies, large and conducive labour market conditions, greater domestic capacities to pay for goods and services, increasing local consumption and supportive macroeconomic conditions, ASEAN has attracted significant FDI flows over the years. - Total FDI inflows into ASEAN countries totalled US$135.6 billion in 2017, marking a 54.7% increase since 2011 (Figure 3.4). Such a trend is the result of yearly increases with the exception of 2014-15. - ASEAN’s appeal as an FDI destination is further cemented by the fact that In 2018, ASEAN’s FDI inflows even surpassed China by a staggering US$15 billion (Figure 3.5). The fact that ASEAN’s FDI inflows increased by 4.96% to US$154 billion in 2018 is impressive given that global FDI flows actually declined by 13% in the same year (Figure 3.6). - However, FDI into ASEAN appeared to be highly concentrated in a few economies. Using 2017 data as an example, Singapore, Indonesia and Vietnam received some 73% of total ASEAN FDI inflows that year (Figure 3.7). - At 46% of total FDI inflows, Singapore was the region’s largest FDI recipient in 2017, despite a decline to US$62 billion that year from US$77 billion in 2016. FDI into CLMV (Cambodia, Laos, Myanmar and Vietnam) economies rose by 21% to reach US$23 billion in 2017, making it the third consecutive year of growth in CLMV’s share of FDI inflows into ASEAN. Vietnam alone received over 60% of inflows to the CLMV countries.13 A virtuous cycle of savings, foreign investment and labour productivity have helped feed the domestic mechanisms that supported the growth of many ASEAN economies. Macroeconomic conditions such as healthy levels of government debt and high foreign reserve levels have also been supportive. These conditions have provided a fertile platform for the region to attract global FDI. Nonetheless, as the next section shows, accompanying such growth momentum are emerging vulnerabilities that would need to be addressed to sustain further growth. 1 PwC, The Future of ASEAN: Time to act, May 2018; ASEAN Secretariat, Celebrating ASEAN: 50 Years of Evolution and Progress, A Statistical Publication, July 2017 2 Since 1965 3 McKinsey Global Institute, Outperformers maintaining ASEAN countries’ exceptional growth, September 2018 4 PwC, The Future of ASEAN: Time to Act, May 2018 and ASEAN Secretariat, ASEAN Statistical Highlights 2018, October 2018 5 PwC, The Future of ASEAN: Time to Act, May 2018 6 PwC, The Future of ASEAN: Time to Act, May 2018 8 The ASEAN 5 countries comprise Indonesia, Malaysia, the Philippines, Singapore, and Thailand 9 McKinsey Global Institute, Outperformers maintaining ASEAN countries’ exceptional growth, September 2018 10 ASEAN-5 comprises Indonesia, Malaysia, Philippines, Singapore, Thailand 11 With the exception of Singapore, many ASEAN economies especially those from the emerging economies recorded low and declining levels of government debt since 2001 13 UNCTAD, ASEAN Investment Report 2018. Note: Generally, FDI into CLMV flowed into infrastructure, manufacturing, real estate, and finance. (Note: The term “ASEAN” can refer to either the collection of economies in this region or the intergovernmental institution which was established through the ASEAN Charter of 1967 or both.) Supervisor: Hong Jukhee Editorial Team: Kwong Mook Shian, Mohd Imran Said Mohd Shamsunahar, Gan Bo Ren, Nor Amirah Mohd Aminuddin, Aznita Ahmad Pharmy
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9750235080718994, "language": "en", "url": "https://www.iatp.org/revisiting-crisis-by-design", "token_count": 271, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1328125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:471e59cb-e89e-4da9-b111-bbd758cec36a>" }	Our farmers are again in crisis. The issue is not only that so many farmers have been hit hard by years of falling prices and rising bankruptcies but that the interlocking system of trade and farm policies are designed for exactly that kind of outcome. It is not so much a crisis of prices as a Crisis by Design. That is the title of an article written by IATP founder Mark Ritchie and Kevin Ristau in 1987, in the midst of another farm crisis. It was a watershed document that has been the cornerstone of IATP’s work for many years and has catalyzed further analysis and action by family farmers and their allies. It traced the origins of farm policy, starting from the historic pattern of boom and bust cycles of prices through the eventual establishment of parity pricing and supply management that emerged in the 1930s. Now, more than 30 years later, we are in the middle of another farm crisis, with the added pressures of the COVID-19 pandemic and an impending climate catastrophe. We took a fresh look at the analysis and predictions made in Crisis by Design to understand how the farm situation has changed since then and what current policies imply for the future. We examined nine factors in the farm economy, as well as how U.S. agriculture intersects with global markets, the environment and broader disparities.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9835385084152222, "language": "en", "url": "https://www.thebalance.com/what-is-qe1-3305530?utm_source=emailshare&utm_medium=social&utm_campaign=shareurlbuttons", "token_count": 1309, "fin_int_score": 5, "fin_score_model": "en_fin_v0.1", "risk_score": -0.09619140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:a319e731-5f73-4245-95ce-6b8975b3249c>" }	QE1 and How It Stopped the 2008 Recession The Quick Thinking That Saved the Housing Market QE1 is the nickname given to the Federal Reserve's initial round of quantitative easing. That's when the Fed massively increased its standard open market operations. It purchased the debt from its member banks. The debt was mortgage-backed securities, consumer loans, or Treasury bills, bonds, and notes. The Fed bought them through its trading desk at the New York Federal Reserve Bank. The Fed can buy as much debt as it wants, anytime it wants. Like all other central banks, it has the authority to create credit out of thin air. It has this ability so it can quickly pump liquidity into the economy as needed. The QE1 program purchases lasted from December 2008 until March 2010. There were additional transactions made from April through August 2010 to facilitate the settlement of the initial purchases. The Fed announced QE1 on November 25, 2008. Fed Chairman Ben Bernanke announced an aggressive attack on the financial crisis of 2008. The Fed began buying $500 billion in mortgage-backed securities and $100 billion in other debt. QE supported the housing market that the subprime mortgage crisis had devastated. Fannie Mae and Freddie Mac guaranteed the securities. They are two agencies established by the government to boost the housing market. Historically, Fannie Mae has bought mortgages from large retail banks while Freddie Mac bought them from smaller thrift ones. In December 2008, the Fed cut the fed funds rate to near zero and the discount rate to 0.5%. The Fed even began paying interest to banks for their reserve requirements. At that point, all of the Fed's most important expansionary monetary policy tools had reached their limits. As a result, quantitative easing became the central bank's primary tool to stop the crisis. By March 2009, the Fed's portfolio of securities had reached a record $1.75 trillion. The central bank continued to expand QE1 to fight the worsening recession. That month, it announced it would buy $750 billion more in mortgage-backed securities, $100 billion in Fannie and Freddie debt, and $300 billion of longer-term Treasurys over the next six months. By June 2010, the Fed's portfolio had expanded to an alarming $2.1 trillion. Bernanke halted further purchases since the economy had improved. Despite QE1, Banks Weren't Lending But by August, Bernanke hinted that the Fed might resume QE because the economy was still lackluster. Banks still weren't lending as much as the Fed had hoped. Instead, they were hoarding the cash. They were using it to write down the rest of the subprime mortgage debt they still had on their books. Others were increasing their capital ratios, just in case. Many banks complained that there just weren't enough credit-worthy borrowers. Perhaps that was because banks had also raised their lending standards. For whatever reason, the Fed's QE1 program looked a lot like pushing a string. The Fed couldn't force banks to lend, so it just kept giving them incentives to do so. Fed pumped liquidity into banks. Fed can “create money” which allowed banks to weather the subprime mortgage crisis. QE1 significantly lowered interest rates. Low rates kept the housing market afloat. QE1’s added liquidity wasn't enough to compel banks to increase their loans. Money supply did not increase substantially. Consumer demand did not increase enough to boost the economy. Investors were worried about QE's potential for inflation. Despite Three Drawbacks, QE1 Worked QE1 had some significant drawbacks, but it did work overall. The first problem, as mentioned, was that it was not effective in forcing banks to lend. If the $1 trillion or so that the Fed had pumped into banks had been loaned out, it would have boosted the economy by $10 trillion. Unfortunately, the Fed didn't have the authority to make the banks lend it, and so it didn't work as anticipated. Before the COVID-19 pandemic, a big bank only had to keep 10% of its total assets in reserve. That's known as the reserve requirement. It could lend the rest, which then gets deposited in other banks. That's how $1 trillion in Fed credit could have became $10 trillion in economic growth during the Great Recession. QE1 led to the second problem. The Fed now had a record-high level of potentially dangerous assets on its balance sheet. Some experts became concerned that the Fed had absorbed the subprime mortgage crisis. They worried that the massive amount of toxic loans might cripple it like they did the banks. But the Fed has an unlimited ability to create cash to cover any toxic debt. It was able to sit on the debt until the housing market had recovered. At that point, those "bad" loans became good. They had enough collateral to support them. That, of course, led to the third problem with quantitative easing. At some point, it could create inflation or even hyperinflation. The more dollars the Fed creates, the less valuable existing dollars are. Over time, this lowers the value of all dollars, which then buys less. The result is inflation. But the Fed was trying to create mild inflation. That's because it was counteracting deflation in housing, where prices had plummeted 30% from their peak in 2006. The Fed was dealing with the immediate crisis. It wasn't worried about inflation. Why? Because inflation doesn't occur until the economy is thriving. That's a problem the Fed would welcome. At that time, the assets on the Fed's books would have increased in value as well. The Fed would have no problem selling them. Selling assets would also reduce the money supply and cool off any inflation. That's why QE1 was a success. It lowered interest rates almost a full percentage point. Rates fell from 5.21% in April 2010 to November 2011 to 3.98% in November 2011 for a 30-year fixed interest mortgage. These low rates kept the housing market on life support. They also pushed investors into alternatives. Unfortunately, sometimes this included runs on oil and gold, shooting prices sky-high. But, record-low interest rates provided the lubrication needed to get the American economic engine cranking again.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.971439778804779, "language": "en", "url": "https://climatevulture.com/2013/08/14/small-scale-fishers-unaffected-socioeconomically-from-displacement-from-a-marine-protected-area-in-hawaii/", "token_count": 1022, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.10498046875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:52fb21b3-72b5-48b7-ac62-bea26134781c>" }	MPAs have been implemented across the globe to protect marine biodiversity and critical habitats and enhance commercially harvested ﬁsh stocks. Although ecological effects of marine protected areas (MPAs) are well documented, their impacts on the spatial distribution of ﬁshing efforts and ﬁshing communities are poorly understood. MPAs have been shown to enhance ﬁsheries by providing nursery and refuge habitat in which spill-over into commercially fished areas can occur. However, some research has shown that MPAs may have negative effects on fisheries’ revenues. MPAs can affect ﬁshing behavior by reallocating ﬁshing effort to less desirable areas and encourage ﬁshers to aggregate near MPA boundaries. Furthermore, poorly placed MPAs that are introduced when a ﬁshery is not understood can reduce expected profits. Stevenson et al. (2012) investigated how one MPA network in Hawaii altered the spatial distribution of ﬁshing effort, how it impacted perceived ﬁsher socioeconomic well-being and ﬁshing operations, and whether the economic and catch beneﬁts offset costs in the newly established non-MPA ﬁshing areas. Data were collected using social surveys, experimental ﬁshing, and catch reports. Stevenson et al. found that although the MPA network displaced ﬁshing effort, ﬁsher socioeconomic well-being was not affected. —Evelyn Byer Stevenson, T., Bissot, B., Walsh, W., 2012. Socioeconomic consequences of ﬁshing displacement from marine protected areas in Hawaii. Biological Conservation 160: 50–58. Stevenson and colleagues in Washington and Hawaii used social surveys, state ﬁshing reports, and experimental ﬁshing to evaluate how the MPA network inﬂuenced ﬁsher socioeconomic well-being and ﬁshing operations, ﬁshing displacement, and estimated spatial-catch revenue relationships. The social survey’s primary focus was on ﬁshers who remained active pre- and post-MPA network implementation in 1999. Fishing activity level was assessed by asking permit holders how often they ﬁshed; any respondents indicating they ﬁshed at least once per month were classiﬁed as active. Survey packets were disseminated using a snowball approach, meaning packets were distributed to people referred by other permit holders, and all selected permit holders received a questionnaire, a letter of purpose, and a self-addressed stamped envelope for returning their completed responses. Five point Likert scale questions were used to evaluate perceived changes in ﬁsher socioeconomic well-being and ﬁshing operations pre- and post-MPA implementation, in which responses ranged from much worse to much better. Fishing reports from 1990 to 2008 were used to examine if the MPA network displaced ﬁshing effort after it was implemented. In 2008, experimental ﬁshing with aquarium ﬁshers was performed at ten sites along West Hawaii’s coast over a 10 day period in November to determine if estimated catch revenues changed as a function of distance from ports of entry as well as MPA boundary versus non-MPA boundary sites. Captured fish were identiﬁed and counted on the boat for each dive. Three dives were performed at each site. Experimental catch per unit effort (CPUE) was calculated using the ﬁshing time and number of ﬁsh caught per dive. ArcGIS was used to measure the average distance between a given port of entry and ﬁshing sites. Estimated catch revenues were calculated on a per dive basis by multiplying the average annual sale price per species in 2008 by the number of species caught in 2008. Stevenson et al. found that fishing cost and distance traveled were perceived to have signiﬁcantly increased while economic status was perceived to have slightly improved post-MPA network establishment. All other factors remained unchanged. Stevenson et al. speculated that the reason for an increase in travel costs without a decrease in perceived socioeconomic status is because the fishers expanded their operating range and favorable market factors helped offset potential economic losses. Catch per unit effort and catch revenues were shown to be higher in newly established fishing areas post-MPAs. Results of the experimental fishing showed estimated catch revenues and experimental CPUE increased with distance from ports of entry, which may serve as an incentive for traveling farther. However, it was also found that estimated revenues and fuel expenditures were equal at approximately 60 km round trip distance from ports of entry; after that point fuel expenditures exceeded estimated revenues. Unexpectedly, these small-scale fishers showed little socioeconomic consequences from displacement caused by MPAs, but more empirical studies are needed to understand the effects of MPAs on small-scale fishers in all types of markets.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9392268061637878, "language": "en", "url": "https://madaraka.online/2015/08/15/tailings-dam-breaches-increasing-in-frequency/", "token_count": 323, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.427734375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:60cbe534-2fba-4b78-812d-d81c10ed5433>" }	WASHINGTON, DC – A new report available at Earthworks Action notes that catastrophic tailings spills are occurring with increasing frequency around the world. Moreover, the new study, The Risk, Public Liability, and Economics of Tailings Storage Facility Failures, points out the failures of regulators and engineers to create truly best practices to minimize financial and environmental risks. The report says that half the serious dam failures, 33 of 67 in the past 70 years, have occurred in the 20 years between 1990 and 2009. It predicts there will be a further 11 failures costing approximately $6 billion between 2010 and 2019. The average cost of each spill is $543 million, as measured by the attempts of regulators to recoup cleanup costs from mine operators. The study says, “The increasing rate of tailings dam failures is propelled by, not in spite of, modern mining practices.” The size of tailings management facilities, particularly those in excess of 5 million m3, is to blame. Such large ponds have grown to allow mining of lower grades of ore. The outlook is gloomy: “Mining companies cannot afford, and cannot secure insurance to cover, the costs of catastrophic failures. Losses, both economic and ecological, are in large part either permanent and non-recoverable, or recovery – to the extent physically possible – funded by public monies [in the US].” Earthworks Action (EarthworksAction.org) has released the new report to commemorate the one-year anniversary on Aug. 4, 2014, of the Mount Polley tailings dam failure.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9236675500869751, "language": "en", "url": "https://onlinerealestateinvest.com/real-estate-property-marketplace/p2p-peer-to-peer-service/", "token_count": 844, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.15625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:6bf42db5-4475-455e-89ee-3dbac73bd6b0>" }	What Is a Peer-to-Peer (P2P) Service? A peer-to-peer (P2P) service is a decentralized platform through which two individuals interact directly with each other, without any third-party intermediate. Instead, the buyer and the seller directly transact with each other through the P2P service. The P2P platform may provide search, screening, rating, payment processing, or escrow services. - A P2P service is a network that connects parties directly to a transaction without the third-party intermediary. - Peer-to-peer networks exploit technology to resolve the trust, compliance, and data asymmetries transaction costs that have historically been tackled by the use of third-parties. - Peer-to-peer platforms offer their users services, such as payment processing, buyer and seller information, and quality assurance. Understanding P2P Services File sharing systems such as the music-sharing application Napster which appeared in 1999 have popularized the modern peer-to-peer concept. The peer-to-peer movement enabled millions of Internet users to connect and form groups directly, and collaborate as user-created search engines, virtual supercomputers, and file systems. This network arrangement model differs from the client–server model, where communication usually takes place to and from a central server. Peer-to-peer services today have moved beyond purely Internet services, although they are mostly considered to be at least Internet-based. Peer-to-peer networks cover practices ranging from basic purchase and selling to those deemed to be part of the shared economy. Some peer-to-peer networks don’t even require a users pay transaction at all, but they put individuals together to collaborate on collaborative ventures, exchange information, or connect without a direct intermediate. Such types of P2P services can be operated as free non-profit services or generate revenue by advertising to users or selling data to users. When a third party is excluded from the transaction, there is a greater risk that the service provider will fail to perform, that the service may not be of the quality anticipated, that the customer may not be able to pay, or that one or both of the parties will benefit from asymmetric information. This extra risk constitutes a peer-to-peer transaction with added transaction costs. Peer-to-peer networks are also developed in an effort to promote these transactions and to reduce the risk to both buyer and seller. The buyer, seller, or both may pay the cost of the service, or the service may be provided for free and in some other way generate revenue. Popular examples of P2P services include: - Software that’s open-source: Anybody may access and/or change the software code. Open-source software aims to remove the central software publisher/editor by crowdsourcing the software’s coding, editing, and quality control among writers and users. - Filesharing: Where uploaders and downloaders meet to share media and software files. Filesharing services can provide scanning and security for shared files, in addition to peer-to-peer networking. They may also provide users with the ability to anonymously bypass intellectual property rights or, alternatively, enforce intellectual property rights. - Online marketplaces: A network to find potential customers for private sellers of products. Digital marketplaces are able to provide seller promo services, buyer and seller ratings based on experience, payment processing, and escrow services. - Cryptocurrency and blockchain: A network that allows users to make payments, process and validate payments without a central money issuer or clearinghouse. Blockchain technology enables people to use cryptocurrencies to transact business, and to make and enforce smart contracts. - Homesharing: Enables owners of properties to rent all or part of their land to short-term tenants. Home-sharing systems usually provide owners and tenants with payment collection, quality control, or ranking and certification. - Ridesharing: A platform for car owners to provide chauffeur service as taxi-riders. Ridesharing apps provide services similar to home-sharing.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9340960383415222, "language": "en", "url": "https://www.delveinsight.com/blog/rare-disease-market-drivers/", "token_count": 1422, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.373046875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:8b2c8d68-d45d-4fca-9977-723ce14829df>" }	Rare diseases–also go by the name Orphan diseases–are the conditions that do not affect many individuals out there in one particular geographic area. Going deeper into the definition, it also means a lesser patient pool for a therapy developed for one identified rare condition. Unfavorable drug uptake would automatically yield a lesser return on the investment done by the pharma players, thus, these diseases were abandoned or say orphaned. However, a piqued interest of researchers and regulatory agencies in Rare diseases and their therapies projected the domain in altogether a different light. So far, the USFDA has approved drugs and biologics for over 800 rare disease indications. After decades since the passage of the Orphan Drug Act, over 500 drugs have received orphan status from the FDA. While more than 150 orphan drugs have been approved in the EU. Thus, it can be conveniently said that the Rare disease market, which was once barren land has now become fertile ground. So, why in the span of the past few decades, the Rare disease domain witnessed such an exponential surge of novel launches? The Stance of Regulatory Agencies First and foremost, the regulatory agencies were ready and willing, with ornaments in hand to decorate the Rare disease market with novel therapies. The US FDA is working with stakeholders, including patients, patient advocates, product developers, and researchers, to fulfill its multiple, complex responsibilities towards improving rare disease clinical development. The FDA funds research in rare diseases through programs like the Orphan Products Grants Program, carries out the Orphan Drug Act, reviews and grants designations to Rare Disease Drugs, Rare Pediatric Diseases, and Devices, offers seven-year market exclusivity to orphan drugs, and much more. By the same token, the EMA plays an instrumental role in bolstering the development of safe and effective drugs, biologics, and devices for rare diseases. Drugs that receive orphan designation get benefits from protocol assistance, ten years of market exclusivity (+2 years for pediatric orphan medicines), and several other vantage benefits. Orphan Drug Act- What it means for pharma players? The passage of the Orphan drug act brought a wave of orphan drug approvals and launches. To incentivize the pharma and biotech companies working in the Rare disease market, the act introduced tweaks and turns to the normal guidelines of the drug launches to facilitate the entry of pharma players into the Rare disease market. The act grants Orphan drug designations to therapies that are under investigation for rare diseases. It provides numerous benefits including Potential Pediatric Research Equity Act (PREA) requirements exemption, Waiver of the marketing application user fee, Tax credits, and research grants for qualified clinical testing expenses, FDA protocol assistance, and Post-approval certain years of the orphan drug market exclusivity. Further, after the patent expiry ends, a pharma sponsor can investigate the same drug in different rare conditions to extend the time period of reaping benefits. Through the Congressionally-funded Orphan Products Grants Program, the U.S. FDA last year in October awarded six new clinical trial research grants to principal investigators from academia and industry worth over USD 16 million over the next four years. These trial research grants play an important role in supporting and enhancing the studies and R&D in the domain that are least explored. To date, the FDA’s grants program has supported research and advanced the therapies to marketing approval of several treatments for rare diseases. Some of the recent approvals supported by the grants program include teprotumumab, for the treatment of a rare thyroid eye disease, and triheptanoin, for the treatment of pediatric and adult patients with molecularly confirmed long-chain fatty acid oxidation disorders. (Source: FDA) However, in the end, developing therapies and drugs for rare diseases is a team sport and a team effort. Shorter Clinical Trials Conducting clinical trials for Rare diseases is convenient. The time period from phase II to market approval is relatively shorter for rare drugs owing to shorter and smaller clinical trials. Further, these orphan drugs are granted FDA fast track designation. Moving forward, the timelines for the FDA approval are 10 months for orphan drugs v/s 13 months for non-orphan drugs. Influx of Pharma companies in Rare disease market There are several pharma and biotech companies worldwide that are indulged in different profiles of rare diseases. Pharma companies including Celgene, Novartis, BMS, Roche, Alexion Pharma, Pfizer, Vertex Pharma, Merck AbbVie, J&J, Spark Therapeutics, bluebird bio, Biogen, Amgen, along with Tetra Therapeutics, Zynerba Pharmaceuticals, Ovid Therapeutics, Confluence Pharmaceuticals, Neuren Pharmaceuticals, Takeda, Alexion, Omeros Corporation, Apellis, Novartis, ChemoCentryx, Acer Therapeutics, Evox Therapeutics, AstraZeneca, Genentech, Recursion Pharmaceuticals are working proactively to advance the Rare disease market. This implies the enthusiasm and willingness of the pharmaceutical industry to transform the rare disease market. Pharmaceutical companies, including pharma goliaths along with small, narrowly-focused biotech startups, are in the same vein as the rare diseases market. Chance to Expand Geographically The access to orphan drugs remains uneven across the world. While the developed or rich countries happen to have the access majorly fine, the same remains bleak in the case of developing and underdeveloped countries. Thus, the pharmaceutical industry engaged in the Rare disease market has open hand opportunities to explore the emerging markets, conduct clinical trials, and set up their manufacturing hubs. Therefore, middle-income and emerging markets are although less prominent in their stand in Rare disease therapy development, however, have significant growth potential. To sum it all, developmental drivers including incentives, shorter development timelines, and high rates of regulatory approval make Rare disease drug development an economically viable prospect to take on, even if it is for a small patient pool. However, there are some aspects that linger across the board and are concerns of decision-makers and payers. The price of orphan drugs remains at the center of the table. Pharmaceutical companies justify the cost in the name of the rarity of the condition, recouping the expenses, unavailability of any alternative, while pharma stakeholders and payers debate on the grounds of cost-effectiveness, and clinical evidence of the drug’s benefits. Then, there is hesitation from the insurance companies to provide reimbursements of rare drugs attributed to lack of funding. Conclusively, opportunities and hurdles in the Rare disease market go hand in hand. With factors driving the Rare disease market domain forward, there are factors that are sailing against the current. Nevertheless, with hundreds of new rare-disease treatments in the armamentarium and several more in the pipeline, Rare drug development has become a highly profitable industry.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9488471746444702, "language": "en", "url": "https://www.ethicalscreening.co.uk/resources/sustainable-investment/un-sdgs---goal-1", "token_count": 1218, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.059814453125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:9585462d-731c-40b2-b5fd-00305e36db28>" }	Goal 1 - End poverty in all its forms everywhere. Extreme poverty rates have more than halved since 1990, but 1 in 5 people still live on less than $1.25 a day, and millions more live on incomes below that deemed adequate for subsistence. Poverty is characterised by hunger, malnutrition, limited access to basic services, social discrimination and exclusion, and lack of participation in decision-making. What is Goal 1? Goal 1 of the Sustainable Development Goals is ambitious - to end poverty in all its forms everywhere by 2030. The UN estimates that while the number of people living in extreme poverty fell by half between 1990 and 2015, globally, over 800 million people are still living on less than US$1.25 a day and are unable to meet their most basic daily needs with many lacking access to adequate food, clean drinking water and sanitation. Poverty has multiple dimensions which include exposure and vulnerability to adverse economic, social and environmental events such as unemployment, natural disasters, war, disease and disability. Targets linked to Goal 1 therefore include those which aim to increase poor people's resilience to such shocks (1.5); implement national appropriate social protection systems (1.3); and create sound policy frameworks at the regional, national and international levels, based on pro-poor and gender-sensitive development strategies, to support accelerated investment in poverty eradication actions (1.b). Why is Goal 1 important? That hundreds of millions continue to live in extreme poverty and face a daily struggle to meet their most basic needs is clearly unsustainable. The UN notes that poverty and inequality are detrimental to economic growth and undermine social cohesion, increase political and social tensions and, in some circumstances, drive instability and conflict. It follows then that reducing poverty can help to create the right conditions to encourage foreign investment in developing economies, particularly in rural areas and in the agricultural sector, which are often subject to under-investment. Goal 1 is broad and overarching, with strong connections to many of the other global goals that are essential for poverty reduction, and that companies can endorse and contribute to achieving. Further examples include: - Fair employment practices through the payment of a living wage, increased union representation to strengthen workers' collective bargaining power; and the sourcing of Fairtrade products to ensure that producers in development countries are paid a fair price (Goal 8 - Decent Work and Economic Growth); - Fair tax practices in countries of operation, to enable state funding of vital public goods and services (Goal 10 - Reduced Inequalities); and - Increased access to affordable medicine and healthcare (Goal 3 - Good Health & Wellbeing), and safe drinking water (Goal 6 - Clean Water & Sanitation). How can companies contribute to Goal 1? Ethical Screening identifies company activities and initiatives that are contributing directly to the objectives of the global goals, through the supply of relevant products or services, for example. Target 1.4 is particularly applicable here - it aims to ensure that all men and women have equal rights to economic resources; access to basic services; ownership and control over land and other property; inheritance; natural resources; appropriate new technology; and financial services, including microfinance. Microfinance, also called microcredit, is a type of banking service that offers micro loans as well as current and savings accounts amongst other products, to individuals and groups in developing countries who would otherwise be unable to access financial services. Microcredit, which is increasingly being adopted by major financial institutions, can help individuals to break out of poverty through increased social mobility and access to employment opportunities. Standard Chartered, for example, reports that it made $1 billion available to microfinance institutions for onward lending to entrepreneurs in 2016 and 2017. Mobile technology offers further opportunities; over 10 years ago, Vodafone's Kenyan associate Safaricom launched M-Pesa, a mobile phone-based money transfer, and microfinancing service, which enables customers to send, receive and store money via a basic mobile phone and, more recently in some markets, using a smartphone app. In 2016, M-Pesa served nearly 30 million customers across 10 countries (including Albania, the Democratic Republic of Congo, India, Lesotho, and Mozambique), processing some six billion transactions. In the same year, a study by the Massachusetts Institute of Technology, showed that in Kenya, the use of M-Pesa's mobile-money services had notable long-term effects on poverty reduction by helping Kenyans to save more money and an increased ability to withstand financial shocks. The authors found that there were particularly significant gains for women as it has offered more financial independence, allowing many to start their own businesses with an estimated 185,000 women taking up business or retail occupations over farming. Such results also contribute to achieving Goal 5 (Gender Equality). Understanding that consumer needs and habits differ in developing countries is essential as it allows companies to adapt products and services accordingly. Individuals on a low income often shop daily for basic necessities so products can be designed to suit this context. Companies such as Unilever's Hindustan subsidiary, HUL, have long recognised that this is the case and sell soap, and other personal care and household products in low cost, single-use sachets in markets where many are unable to afford the full-size versions. HUL reportedly sells over 25 billion sachets a year in this way. Through simple yet highly effective approaches such as these, the private sector can contribute to increased sanitation and hygiene, with associated benefits for Goal 3 (Good Health & Well-Being). Successfully achieving the targets outlined for Goal 1 will be largely dependent on the actions taken by governments at regional and national levels to implement appropriate social protection systems, and policy frameworks which support increased spending on poverty reduction strategies. However, as the examples above demonstrate, there is a strong business case for companies and investors to support Goal 1, as doing so can generate both financial and social benefits. Select another goal to read further:
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9025920629501343, "language": "en", "url": "https://www.indiumsoftware.com/blog/multi-organization-in-hyperledger-fabric/", "token_count": 1067, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.1220703125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:cd380ee9-6c23-4101-af19-ea3625fdd313>" }	A Blockchain is a series of immutable records of data also called as blocks which are linked using cryptographic principles. Each block of data is secured because data is converted into hash using SHA 256 algorithm. The initial block of chain is called the genesis block. Permissioned Vs. Permissionless Blockchain - In Permission-less blockchain participants must have resources like software and more computing power to validate transactions whereas in permissioned blockchain the participants need authorization to validate transaction. - In case of Permission-less blockchain anyone can join the network but in permissioned blockchain member should have unique certificate to join the network. - An example for permissioned blockchain is HYPERLEDGER FABRIC and for permission-less blockchain is BITCOIN. Hyperledger is an open source project developed by Linux Foundation. It is a private and permission blockchain, this Framework developed for the applications of different organization needs. Hyper ledger is not a crypto currency like ethereum. The Hyperledger fabric is one of the blockchain framework and hosted by Linux Foundation. Fabric is in the infrastructure of private and permissioned blockchain. The main feature of Fabric is that its distributed ledger and smart contract to allows for private channels. Fabric uses smart contracts, and participants manage their transactions. In network, if members want to share their data with certain parties, they can create private channel for them. - Membership Service Provider - Ordering Service Organizations are the containers for the peers and unique certificate authorities (CA). Each organization has a list of peers and CA used for verifying membership in the network. Organizations are also called members of network. Multiple organizations can be created in the network. Single Organization Vs. Multi Organization - In network, single organization does not have any private connectivity whereas in multi organization, can have private collection for their client data. - Single organization in network is like public blockchain, in that transactions are not in hidden mode anyone can view the transaction. But in multi organization, the transactions and communication can be hidden from other members. - The network has an endorsement policy that defines which organizations must endorse transactions before it is committed to blockchain. In network, deployed endorsement policy by default for an organization whereas in multi-organization want ensure endorsement policy for transaction. - In single organization, all client data will be stored in a single node but in multi-organization, each organization will have their client data in their own node. - Data sharing is not possible for an organization whereas in multi organization data can be shared on the channels. - Anchor peer will not be used by single organization but in multi organization anchor peer are used as communicator between different organizations. Anchor peer is a peer node on a channel that all other peers can discover and communicate with it. Every organization in the channel has an anchor peer. To prevent a single point of failure, an organization can have multiple anchor peers. Membership Service Provider (MSP) MSP is a component which is used to generate valid certificates, keys and signature. These files are generated using crypotgen tool.MSP generates certificate for each peer, ordered to enable on channels. Peer is a network entity which uses to maintain state of the ledger and executes chain code (smart contract) to perform read/write operations to the ledger. Each peer can hold copies of ledgers and smart contracts. Ordering service is a shared communication channel to organization (peers), which contains transactions and also it contains the unique identity material tied to each Organization. Ledger is list of immutable record of all transactions .In Fabric, a ledger consists of two parts, World State –The database holds the values of current set of ledger states. Ledger states are expressed as key-value pairs and that can be modify by create, update and delete. Blockchain – This feature records all the modifications that have resulted in the world state. All transactions are appended to the blockchain. It is immutable. Architecture Of Multi Organization Setting Up New Organization To The Network Cryptogen tool is used to generate certificates for validation and authentication of organization. Configtxgen tool is used to generate channel configuration. Channel configurations contain all of the information of channel and store it as block to the ledger and also called as genesis block. Orderers and peers use the current channel configuration for all channel operations like creating a new block and validating transactions. To add new Organization’s signature to channel, it needs majority of the existing organization’s admin to sign it. Without the signatures, the ordering service will reject the transaction of new Organization. Add new organization to channel by executing ‘peer channel signconfigtx’ command to update configuration. Get the existing channel block and join the peer of new organization to the channel. Chaincode is set of codes that run on blockchain that implements the business logic of how it interacts with the ledger. Install and instantiate the chain code on peer. Instantiation adds the chaincode to the channel and creates new docker container to execute chaicode. Invoke chaincode to changes values in the ledger state for the peer. New Organization is added to the blockchain network.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9321050047874451, "language": "en", "url": "https://www.solvesto.in/post/privatelimitedcompanyv-spartnershipfirm", "token_count": 973, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.05615234375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:fc4c1fb9-bac5-4ff5-ab95-7363eff02823>" }	Updated: Feb 6 Who is Better Private Limited Company or Partnership Firms/LLP in terms of compliance, tax benefits and other areas. Many Entrepreneurs has a confusion which form of organisation to be open for better expansion and get the more benefits under the compliance, taxation, msme and other government benefits to ease of his business. Please read the our full post related to private limited company V/S partnership firms in Bollywood Style. Private Limited Company A Private Limited Company is a business entity and registered under the Companies Act,2013. Private Limited Companies registered by the promoters of the company for the per-defined objectives. It is created by the association of person who invest the money in companies shares. The business entity gets recognised as a Company through its registration under Companies Act of 2013 in India. The governing body is Ministry of Corporate Affairs headed by Ministry of Finance. The definition of Private Company is defined under the Companies Act, 2013 to provide basic terms. Section 2 (68) of the Act defines a Private Company as under: A Company having a minimum paid-up share capital as may be prescribed, and which by its articles,— (i) restricts the right to transfer its shares; (ii) except in case of One Person Company, limits the number of its members to two hundred; (iii) prohibits any invitation to the public to subscribe for any securities of the company. Partnership Firm or LLP (Limited Liability Partnership) Partnership Firms /LLP in which, two or more persons agree to carry on the business, on behalf of the firm or partners and to share profits & losses mutually. These Firms governed by the Indian Partnership Act, 1932 and Limited Liability Partnership Act, 2008. Partnership business depends on following points: Agreement – There must be an agreement between partners, irrespective of oral or written. Profit & Loss of the Business– The profit & loss of the business must be distributed between the partners, in the specified ratio decided at the of agreement. Capital – Each partner contribute the capital in the partnership for running the business. Comparison Between Private Limited Company and Partnership Firm/LLP Private Limited Company Incorporated under Companies Act, 2013 and Partnership business registered or governed by Indian Partnership Act,1932 and Limited Liability Partnership Act, 2008. 2. Minimum Members,Directors & Partners In Private Limited Companies , Minimum two shareholders and director required for forming of company. In Partnership Firm, two person required to constitute the 3. Management of Business Business of Private Limited Companies managed by the Directors appointed by the shareholders in annual general meeting. Directors of company participate the day to day business activities. In Partnership firm, partners create and execute the business plans and managed the activities of the business. 4. Ownership and Liability In Private Limited Companies, Share holder is the owner of the company and liability of the shareholder is limited to the paid up capital of the company. In partnership firm, partner having a unlimited liability to pay the debts of the firm from his own money except in case of LLP. 5. Audits of Books of Accounts Every Private Limited Company get the audit of books of accounts from the Practicing Chartered Accountant under the Companies Act, 2013. In Partnership Firm, books of accounts audited by Chartered Accountants if turnover is exceed by Rs 2,00,00,000 under Income Tax Act,1961 or Rs 40,00,000 in case of LLP Firm under LLP Act, 20008. Rate of Income Tax on Private Limited Company is 22% on net profit.If Private Limited Company engaged in manufacturing activities, rate of income tax is 15% on net profit. In Partnership firm/LLP, rate of Income Tax is 30% on net profit earned during the year. 7. Expansion of Business and Availability of Funds Private Limited Company can easily expand the business by issuing fresh shares to relatives or friends of the promoters, directors and shareholders. Today Present scenarios , many customers trust on those organisation who registered under Government Act. In Partnership firms, partner can add the partners for financing or taken a loans from banks, relatives or any other sources. From last previous years, More than 450,000 private companies incorporated due to huge benefits in Taxation and startup schemes. Due to unlimited liability of partners in partnership firms, many entrepreneurs incorporate private limited companies and partners of partnership firms converted his business in to private limited companies. For more information or want to incorporate private limited company, call us on this number +91 76 111 666 04 or mail us [email protected]
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9711067080497742, "language": "en", "url": "https://everything-everywhere.com/canadian-dollar/", "token_count": 726, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1513671875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:808a5e51-0808-4d8e-97ad-2540bd2e92ce>" }	The Canadian Dollar, abbreviated as CAD, is the official currency of Canada. The symbol for this currency is the Can$ or C$ to represent the Canadian version of the Dollar and to differentiate it from other dollar-denominated currencies in the world. The one-dollar coin in Canada features the image of a loon. From there, it has earned the nickname of loonie from foreign exchange traders and analysts. If you are traveling to Canada, it is important to learn a little bit of information about the currency you are using while there. Despite the fact that this currency is exclusively used in Canada, it is the 5th most held reserve currency in the world. In fact, it comprises 2% of the global currency reserve. The other currencies above it are the US Dollar, Euro, Yen, and Pound Sterling. The relative economic success that Canada has experienced for many centuries is one of the reasons why it is popular with central banks all over the world. In addition to its economic stability, Canada is also known for its strong sovereign position and for having a strong legal and political system in place. It is easy to distinguish the Canadian dollar (especially the bills) from the US Dollar. The Canadian Dollar bills feature bright colors, which is easily distinguishable from the white and green bills of the US. In 2011, the Canadian federal government has replaced the paper bills with polymer banknotes. This is a step to securing the currency and ensure that no counterfeiting will be done. Coins and Bank Notes The coins are produced by the Royal Canadian Mint in Winnipeg, Ottawa, and Manitoba. The coins feature the following denominations: 5 cents or nickel, 10 cents or dime, 25 cents or quarter, 50 cents (it is no longer being distributed and is therefore rarely seen in circulation), 1 dollar or loonie, and two dollars or toonie. The 1 cent or penny was no longer minted and has ceased distributed in 2013. As for the banknotes, they were first issued by chartered banks in the 1830s. Before the founding of the Bank of Canada in 1934, there were only 10 chartered banks that were issuing notes for the Canadian Dollar. There were many design changes incorporated into the banknotes over the years, but the latest design was released in 2011. It was also during this same time when the material used for the printing of banknotes was changed to polymer substrate (from cotton fiber). Some of the bills that were printed using polymer were released into circulation in 2011 and then later in 2012 and 2013. Interesting Facts about the Canadian Dollar Here are some interesting facts that you need to know about the Canadian Dollar: - Aside from loonie, the Canadian Dollar is also known by a few other nicknames such as piastre, buck and Huard., - Some of the most frequently used bank notes in this currency are $5, $10, $20 and $50. The $100 bank note is rarely used. The $1 and $2 bills have already been replaced with coins. - As of 2015, the inflation rate for the Canadian Dollar is at 1.06%. - The Bank of Canada is the central bank institution that governs the circulation of the currency within the country. - This currency is only being used by Canada. - If you are traveling to Canada from the US, you can use your US dollar to transact as some of the businesses near the border accepts US Dollars. However, it is important to take note about the difference in the exchange rate especially when compared to banks.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9411554336547852, "language": "en", "url": "https://overdraftapps.com/the-purpose-of-a-budget-is-to/", "token_count": 1459, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": -0.01904296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:fe293152-12ee-46e1-a0dd-f1ff44862c17>" }	A budget is essentially a spending plan or a guide for how you’ll allocate income for expenses, debt repayment and savings. Budgeting can be tedious, restrictive and difficult at first, and some people would rather stick their head in the sand than deal with their money. But regardless of your income level, you can’t go wrong with a financial plan. The purpose of a budget is to help you take control of your money. So rather than see your budget as a buzz killer, think of it as a friend. Budgets also ensure that you have enough money for your needs (and a few of your wants). Budgets are simple, but powerful. They take the guesswork out of managing your finances by revealing exactly where your money goes. Budgets can even offer insight into areas where you’re overspending. As a result, you learn how to control your money so that it stops controlling you. Everyone can benefit from a budget no matter their income. The truth is, regardless of how much you earn, consistently spending more than your income can negatively impact your financial life. Since budgets encourage spending within your means, coming up with one contributes to more disposable cash. In fact, many people who adjust their spending habits and stick with a budget are able to save more each month. The less money you pay out or waste, the more cash you’ll have available for important matters: bills, paying off credit cards, building an emergency fund, planning a vacation, etc. Budgeting also keeps your bank account and credit accounts in good standing. When you don’t use a budget or track spending, it’s far too easy to spend more than a reasonable amount each month — or worse, more than you actually earn. If you overspend on non-essentials, you might not have enough money to pay important expenses. This can trigger late payments, defaults and damage your relationship with creditors. You might even rely on credit cards to compensate for lack of cash flow and dig a deeper hole for yourself. There’s also the risk of a bank overdraft if you don’t have money in the bank to cover written checks or debit card transactions. And unfortunately, overdrafts often result in expensive insufficient funds fees. Some people might blame late payments or overdrafts on lack of income. But if you compare your income with your expenses, you may find that you earn enough to pay your expenses. The problem isn’t lack of money, but rather lack of a budget. To prepare a budget, you have to know what’s coming in and what’s going out. Start by gathering your pay stubs and writing down you total take-home pay for the month. This is your income after taxes. Next, list all of your fixed expenses for the month. These are expenses that don’t change (or change slightly) from month-to-month: - utilities (electricity, water, gas, phone, cable) - insurances (health, life, renter’s, car, etc.) - auto loans - credit card payments and other debt payments Subtract fixed expenses from your take-home pay. From here, determine a reasonable amount to spend on your variable expenses. These are discretionary expenses that can change from week to week, or even month to month: As a general rule of thumb, allocate 10% of your discretionary income for personal savings. The percent of your income spent on variable expenses is up to your discretion. Here’s a look at recommended percentages per category: - 28% to 30% for housing - 10% to 15% for transportation - 10% to 25% for insurances - 5% to 10% for utilities - 10% to 15% for food - 10% to 15% for personal - 10% to 15% for savings - 10% for donations - 5% to 10% for entertainment/recreation Once you decide how much to spend on variable expenses each month, use the envelope method to manage expenses in these categories and avoid overspending or overdrawing your bank account. This system is easy to follow. Let’s say you budget $200 a month for entertainment, or $50 a week. Withdraw this amount from your bank and put the cash inside an envelope marked “Entertainment.” Repeat this process for the other expenses. The purpose is to only spend what you put in the envelope and nothing more. When the money is gone, it’s gone. Don’t borrow from other envelopes and don’t withdraw additional cash from the bank. Budgeting is easier said than done. Fortunately, there’s an app to make budgeting feel like less of a chore. The Mint app is a popular (and free) personal finance tool, and it’s worth the download if you’re looking for an effortless and user-friendly way to manage your expenses. Using Mint to track your income and expenses can help you stay on top of bill payments, due dates, and savings goals. The “Trends Overview” provides insight on how much you’re spending on average in different categories, so you can adjust your spending accordingly, if necessary. The app is not only customizable, but also intuitive. You’ll receive alerts about upcoming due dates and automatic bill payments, as well as receive helpful suggestions and practical tips on how to save money. But even when you’re diligent about budgeting, life doesn’t always go according to plan. It only takes one unexpected expense to throw off your budget. When you don’t have enough cash for bills and other expenses, you might be tempted to use a credit card. But there’s a better way. Early paycheck apps (such as apps like Dave and apps like Earnin) are a lifesaver in these situations. Earnin provides a way to access your earned income ahead of your paycheck, putting cash in your bank account in about one to two business days. Once you sign up and Earnin verifies your employment, you’re ready to access your earned wages. There’s no fees and no interest. Get up to $100 a day, and up to $500 per pay period. Dave is also perfect if you’re short on cash and want to avoid an overdraft. When signing up, you’re required to provide your bank account and employment information. Once enrolled, you’re eligible to receive cash advances up to $75. There’s no interest or credit check. You’re given 10 days to repay this advance. Some people don’t like the “B-word” because they feel it prevents them from having fun. But budgets serve a useful purpose and contribute to financial growth, which can open the door to a bigger savings account and more choices.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9390690326690674, "language": "en", "url": "https://researchdemystified.org/2010/11/03/pew-recessions-impact/", "token_count": 260, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.09765625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:b64612e3-ba9e-483c-aa62-93cc4a69e6b1>" }	“Of the 13 recessions that the American public has endured since the Great Depression of 1929-33, none has presented a more punishing combination of length, breadth and depth than this one. A new Pew Research survey finds that 30 months after it began, the Great Recession has led to a downsizing of Americans’ expectations about their retirements and their children’s future; a new frugality in their spending and borrowing habits; and a concern that it could take several years, at a minimum, for their house values and family finances to recover.” The survey also finds that more than half of the adults in U.S. labor force (55%) have experienced some work-related hardship — be it a spell of unemployment, a cut in pay, a reduction in hours or an involuntary move to part-time work. In addition, the bursting of the pre-recession housing and stock market bubbles has shrunk the wealth of the average American household by an estimated 20%, the deepest such decline in the post-World War II era, according to government data.” Source: How the Great Recession Has Changed Life in America A Balance Sheet at 30 Months June 30, 2010 A related Report worth looking: One Recessionh, Two Americas
{ "dump": "CC-MAIN-2021-17", "language_score": 0.942370593547821, "language": "en", "url": "https://www.etla.fi/en/latest/the-majority-of-finlands-ict-emissions-are-generated-outside-our-borders-so-our-reporting-must-be-adjusted/", "token_count": 575, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0172119140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:71feca43-6dc8-498b-9bf9-0057906cb0ca>" }	The information technology sector, as well as the use of IT in other sectors, is growing dramatically, at an annual rate of up to 30%. At the same time, its annual carbon dioxide emissions have already grown higher than those of air traffic. Video content already accounts for almost 80% of total data traffic and is continuing to grow. The increasing screen time of consumers and the shift to higher image quality is one important factor in the global growth of the sector’s electricity consumption. Within the next ten years, the ICT sector’s share of the world’s annual electricity consumption is expected to reach at least 6 and up to 14 per cent, says Timo Seppälä, Etla researcher and professor of Practice from Aalto University. New research report “Energy and Electricity Consumption of the Information Economy Sector in Finland” (ETLA Report 107) was published on January the 7th. – Although the electricity consumption of Finland’s ICT sector accounts for about 1-2% of the country’s total consumption, this figure does not adequately describe the climate and environmental impacts resulting from the use of digital services. A significant share – if not the majority – of the digital services used on a daily by Finnish organisations and consumers on are produced in data-centres located abroad, which means that the resulting energy consumption and corresponding climate and environmental impacts will be taking place elsewhere than Finland, explains Timo Seppälä. Finland’s target of carbon neutrality by 2035 will require cuts in the emissions of all sectors. The importance of the ICT sector in achieving emission cuts has been estimated to be extensive. However, the available information on the estimated and actual emission reductions is incomplete and as of yet there is no uniform way to measure cuts. There is no uniform, systematic method for reporting the sector’s electricity consumption or climate and environmental impacts internationally. This is even more challenging due to the fact that production of services is geographically decentralised and an individual operator – a company or a citizen – cannot know where in reality the digital services are produced and how environmentally friendly the production process is. – Without comprehensive and transparent information on the sector’s electricity consumption, it will not be possible to reliably assess or regulate the development of the ICT sector and its significance in the achievement of climate and environmental targets, says Research Fellow Kari Hiekkanen from Aalto University. In order to provide reliable and transparent information on the development of the sector at national level, researchers recommend that reporting obligations must be created for the Finnish ICT sector and its electricity use. Uniform, cross-border practices for reporting on energy efficiency and climate and environmental impacts in the ICT sector must be promoted at the level of the EU and internationally.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9383060336112976, "language": "en", "url": "https://advisornews.com/innarticle/decade-of-disappointments-coming-world-bank-says", "token_count": 632, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": -0.0233154296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:51a954bf-5ea9-4c34-960a-98a895b01113>" }	COVID-19’s lingering long-term effects are expected not just for people who suffered the virus, but the whole world will feel sluggish for the next decade, according to the World Bank. The disinvestment during the pandemic, especially in developing regions, will compound over the decade, slowing down the economic spurt expected as the pandemic subsides, according to the World Bank Global Economic Prospects report. “If history is any guide, unless there are substantial and effective reforms, the global economy is heading for a decade of disappointing growth outcomes,” according to the authors. The report cited four reasons: LIMITED ACCESS: Economic activity has been hit by reduced personal interaction, owing both to official restrictions and private decisions. DISCOURGED INVESTMENT: Uncertainty about the post-pandemic economic landscape and policies has discouraged investment. DISRUPTED EDUCATION: Disruptions to education have slowed human capital accumulation. REDUCED TRADE: Concerns about the viability of global value chains and the course of the pandemic have weighed on international trade and tourism. The bank projected 4% growth to the global GDP this year, but expects that to drop to 3.8% in 2022 as the expansion deflates in subsequent years as lagging effects set in from disinvestment. The global economy contracted 4.3%, following a few years of sluggish growth. Developing regions are not the only ones suffering. Advanced nations fared worse, with a 5.4% contraction in 2020, followed by a 3.5% increase this year and 3.3% increase next year. World Bank President David Malpass urged everybody to prepare for a radically changed environment. “Governments, households, and firms all need to embrace a changed economic landscape,” Malpass wrote in the report. “While protecting the most vulnerable, successful policies will be needed that allow capital, labor, skills, and innovation to shift to new purposes in order to build a greener, stronger post-COVID economic environment.” Although this year will see a burst of spending and repairing, it is far from certain it will be enough to fill the hole dug in 2020. “Investment growth is expected to resume in 2021, but, despite an uplift from advances in digital technology, not add enough to reverse the large 2020 decline,” Malpass wrote. “The experience of past crises raises a further concern—without urgent course correction, investment could remain feeble for years to come.” Steven A. Morelli is editor-in-chief for InsuranceNewsNet. He has more than 25 years of experience as a reporter and editor for newspapers and magazines. He was also vice president of communications for an insurance agents’ association. Steve can be reached at [email protected]. © Entire contents copyright 2021 by InsuranceNewsNet. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9295920729637146, "language": "en", "url": "https://coxcollege.edu/admissions/financial-aid/keys-to-financial-literacy/", "token_count": 915, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.046142578125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:e2f0e9f9-cf44-4fd8-bf17-627f81a5fc42>" }	Keys to Financial Literacy We’re committed to assisting students like you find resources to finance your education. We’re also dedicated to providing keys to help develop your financial literacy in a few key areas: - Good money management skills - Debt management skills - Student loan default prevention Financial literacy information is designed to assist both current and future students with becoming better acclimated to some of the concerns that surround students/parents when deciding which college to attend. When important life decisions like this happen, several questions tend to arise: Will I be able to afford college? How do I budget my money for college? Where will I get the money to go to college? If any of these questions sound familiar, our “Keys to Your Financial Literacy” program will help you answer them. It was developed to assist students and parents like you in financing their education and offering creative ways to develop good money management skills. Get started now by browsing the information below. KEY #1: Money Management Questions about money management and many others can be answered by visiting these informative sites. Money Management 101 Develop money management knowledge and skills you will need to achieve your financial goals. Whether we are talking about building a good budget, getting the most value out of what you spend, or keeping your borrowing to a minimum, a solid understanding is the first step to success. The Smart Student Guide to Financial Aid provides numerous sources of information about student financial aid, including free online scholarship search databases. 360 Degrees of Financial Literacy This information comes from America’s Certified Public Accountants – financial experts who want to help you make better financial decisions to help you reach your goals. You will find there are no ads on the site – just objective information from a trusted source. To get started, visit 360 Degrees of Financial Literacy. Financial literacy is an essential life skill for the 21st century. This is especially important for college students who on campus and in real life will have more financial choices and opportunities to be made than any generation before. CashCourse is responding to this challenge by offering to college students and recent graduates this Web site that contains comprehensive, non-commercial information to help make their financial decisions be informed ones. Take a look around. The information found there will help you make informed financial decisions throughout your college years and into your professional life. Practical Money Skills Recent surveys reveal that Americans consider financial literacy as important as any subjects traditionally taught in schools. Why then is it that most consumers graduate without basic money management knowledge and are left to learn financial skills through trial and error? To help students of all ages learn the essentials of personal finance, leading consumer advocates, educators, and financial institutions have partnered together to create the Practical Money Skills program where educators, parents, and students can access free educational resources including personal finance articles, games, lesson plans and more. KEY #2 Default Prevention This key is to inform about loan default prevention. Critical information, such as knowing who services your student loan, how much you owe, and how to request in-school deferments are useful in keeping current with student loans. Know who services your loan / how much you owe. National Student Loan Database (NSLDS) Contact your federal student loan servicers. Nelnet – Dept of ED / Nelnet FedLoan Servicing (PHEAA) – Dept of ED / FedLoan Servicing (PHEAA) Great Lakes Educational Loan Services Where's my student loan servicer? You can find your servicer here: In-school deferments allow you to temporarily delay payments on your student loans while you are in school. Your “in-school” status is triggered by enrolling at least half-time in an eligible institution. To begin an in-school deferment, you must submit a request through your servicer. Your deferment will last as long as you meet the requirements. Once you fall below half-time enrollment (or reach your expected graduation date) your deferment should end. To apply for an in-school deferment, complete the following steps: - Visit your servicer’s website (see above) and download an in-school deferment form - Complete the student’s section - Deliver it to Cox College Office of Financial Aid for completion and documentation. Cox College will fax your request to your servicer.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9554320573806763, "language": "en", "url": "https://www.ediweekly.com/55641-2/", "token_count": 1131, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.25, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:c88422f8-96bc-4b6a-bbdd-bb73f17a5e76>" }	The waste-reduction legislation just passed in Ontario will please consumers, who will no longer have to pay so-called eco fees when they buy a new television, fees that can add up to $39.50 to the cost of the item. The law will also place more responsibility on producers to design products and packaging for reuse and recovery. Glenn Murray, the Minister of the Environment and Climate Change, said manufacturers will have to cover the cost of recycling, a responsibility that will incentivize them to design products with end-of-life costs in mind. The province’s goal in passing the new law is to take Ontario closer to achieving a “circular economy.” By definition, a circular economy is one in which there is zero waste, zero greenhouse gas emissions from the waste sector, and where all resources, organic and non-organic, are used and reused for the benefit of the economy. As of today, the province is far from that goal. According to its own numbers, greenhouse gas emissions from waste actually rose by 25 per cent between 1990 and 2012, and the amount of waste sent to landfills has increased. The government says that $1 billion worth of recoverable materials are simply thrown away each year. The overall diversion rate in the province—the total amount of organic and non-organic waste handled by the various recycling programs in place throughout the province—has stalled at just 25 per cent. Ontario will run out of landfill space within two decades at current rates of disposal. Showing that better results can indeed be had is Sweden, a country that has reportedly achieved a 99 per cent diversion rate. So successful has Sweden been in its waste management that it now has to import trash from other countries to fuel its waste-to-energy plants, which provide a large proportion of its energy needs. Half of Sweden’s own trash is converted to energy as well. Garbage is now said to be regarded as a valuable commodity in Sweden. This makes sense if one considers that three tons of waste contain as much energy as one ton of fuel oil. It means that the millions of tons of waste in landfills in Ontario and elsewhere are a potentially valuable resource literally going to waste. By the government’s reckoning, every 1,000 tons of waste diverted from landfill generates seven full-time jobs, $360,000 in wages and $711,000 in GDP. While Sweden has been making producers pay all costs related to recycling their products for several years now, Ontario’s producers are required to finance diversion programs by paying industry funding organizations (IFOs). These include the Ontario Tire Stewardship and the Ontario Electronics Stewardship. They were set up under the 2002 Waste Diversion Act and will “eventually” be eliminated under the new law. The government says that those IFO programs cover only 15 per cent of the total waste stream, and they disincentivize producers to improve their products’ design and reusability. What’s more, the burden for waste disposal, which reached $2.9 billion in Canada in 2010, has been largely borne by taxpayers. But “empowering” producers with full responsibility will give them a tool for fulfilling their responsibility cost effectively. That responsibility includes how the product is designed, used, reused, and “reintegrated” into the economy at its end of life. The success of the plan will depend on three critical objectives being met: resource productivity must be increased in order to reduce waste; an efficient and effective recycling system must be put in place; and there must be a market for recovered materials. To make recycling economically viable, the government will need to emphasize the development of markets for recovered materials. This requires coordinated actions using multiple tools to capitalize on the economic opportunities associated with collection, transportation, processing and re-integration of resources into Ontario’s economy. On that last objective, market viability, some materials are clearly more valuable than others. Copper, for example, has such a high recycling value that premium grade scrap retains at least 95 per cent of the value of the primary metal from newly minted ore. Almost 40 per cent of world demand for copper is met with recycled material, the government says. Recycled copper is used in the same applications as primary copper: electrical wiring and circuitry, piping, roofing and insulation and household items like cookware. To make the recycling of other materials viable economically, it must be more profitable than just sending them to landfill. The government says it will work to develop markets for recovered materials. Under the new Ontario law, consumers will very likely see a lot more in the way of public awareness campaigns in coming months, with greater emphasis on organics recycling, for one thing, particularly in high-rise condos and rental apartments. There may also be more disposal bans coming, making it illegal to throw away certain waste substances. Some jurisdictions have banned food waste, for example. The value of wasted food is estimated at $31 billion in Canada each year. Up to 40 per cent of all the food produced and sold in Canada is wasted. Such bans cannot be implemented, the government concedes, without providing people an alternative. For industry, the government intends to designate certain new materials under the producer responsibility regime, including printed paper, products and packaging, and construction and demolition waste. Fluorescent bulbs and tubes, household electronics appliances, carpets, mattresses and batteries are some of the products that could be included in the producer responsibility plan.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.8772127032279968, "language": "en", "url": "https://www.jagranjosh.com/articles/important-questions-for-cbse-class-12-economics-exam-2013-1363428080-1", "token_count": 137, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.15234375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:cbd400be-86f6-431a-81f8-8ca1e66efa1a>" }	Important Questions for CBSE Class 12 Economics Exam 2013 Find CBSE Board 2013 Class XII HOT Economics Questions. This CBSE Hot Class 12 Economics Question Paper 2013 will help you to built your basics and will be helpful to get better marks in CBSE class 12 Mathematics question paper 2013. CBSE Important Economics Questions for Class 12th Board Exam 2013, given here. 1. Define macro economics. 2. What does an indifference curve show? 3. Define marginal cost. 4. What is the behavior of average revenue in a market in which a firm can sell any quantity of a good at a given price? 5. Define oligopoly.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9706624150276184, "language": "en", "url": "https://www.johnkay.com/2014/07/30/why-mean-outcomes-are-often-meaningless/", "token_count": 776, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1669921875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:1d941f85-0236-4070-95e3-eb0302ac0f59>" }	You have spent £2 on a lottery ticket. On Saturday evening you may be a millionaire. Or, more likely, not. But meantime, the auditors arrive. They must confirm that your accounts show a true and fair view. An old-fashioned auditor might allow you to record the lottery ticket at its historic cost of £2. A modern one would want to assess its fair value. But no one buys a lottery ticket to trade it. The purchasers seek the thrill of winning, but expect the disappointment of losing. You cannot sensibly value an asset at £2, or £1.20, when you can be certain that on Sunday morning its value will be completely different. There are lessons for accounting practice from this silly example. It is misleading to value assets as if they were held for trading when there is no likelihood or intention to trade. But the more subtle and more fundamental problem is that there is no good method of accounting for transactions whose outcome is binary. You are either a winner or a loser. To assess a value from the mean outcome is as meaningless as the observation that the average person has 1.99 legs. The return on a bank loan has a similar binary property. The majority of such loans are repaid as expected. A few result in substantial losses. It is rare for creditors to be repaid 99p in the pound. And that is why there has always been difficulty in accounting for losses on bank loans. Pricing them with reference to expected value describes a mean outcome which will almost certainly not become reality. If banks had large portfolios of uncorrelated loans, it might make sense to value that portfolio at 99p in the pound: but, as financial institutions discovered yet again in 2008, the outcomes of a portfolio of loans are generally closely correlated. It is not just the performance of the individual loans, but the overall portfolio, which can have a binary outcome. Quantum physicists have long struggled with the problem of Schrödinger’s cat, at once dead and alive, and accountants have not been more successful in resolving the paradox. The epitome of nonsense created by the problem of accounting for binary outcomes is the well-known absurdity that makes a decline in the credit standing of a bank’s source of profit because it reduces the fair value of the bank’s debt. The bank is either solvent, in which case the debt is repayable at par, or it is not, and there is no middle case corresponding to an expected value. Banks traditionally dealt with this problem by obfuscation. They were allowed to smooth their profits almost at will through the use of hidden reserves. But that approach has given way to demands, which have not in practice been fulfilled, for greater transparency in the accounts of financial institutions. An amended International Financial Reporting Standard 9, a collection of rules that dictate new principles for accounting for loan losses, was issued last week by the International Accounting Standards Board; the latest attempt to elide rather than acknowledge the problem. It has taken a long time to agree even this proposal, and American and European standards setters are still at loggerheads. There is no “right” answer to the problem of accounting for these kinds of uncertainty; only a need to acknowledge that there is never such a thing as a single true and fair view, only a range of possible outcomes. When a business has many long-term contracts, or teeters on the verge of bankruptcy, that range may be very wide. I can see the difficulty a bank chief financial officer will encounter if they tell depositors, shareholders and regulators that annual earnings are something between a loss of $5bn and a profit of $10bn; but such a statement may be the only view of the company’s affairs that is genuinely true and fair.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.8937533497810364, "language": "en", "url": "https://www.value-at-risk.net/treasury-bonds/", "token_count": 948, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0260009765625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:d570c4b3-cfef-42c2-93a0-0071b9e5a326>" }	9.4.5 Example: US Treasury Securities Kenneth Garbade (1986) discusses value-at-risk techniques developed by the Bankers Trust Cross Markets Research Group10 for US Treasury securities. His paper is historically important because it details sophisticated value-at-risk research performed during the mid-1980s. It also represents the first published use of principal components in a value-at-risk measure. The following example loosely parallels a principal-component remapping described in that paper. Measure value-at-risk as 1-week 99% USDvalue-at-risk. Today is May 27, 1986. A portfolio has holdings ω in various US Treasury bills, notes and bonds. A primary mapping is constructed, and a linear remapping is applied: Key vector 1R represents basis point changes in constant-maturity Treasury yields for various maturities: It has conditional mean vector 1\|0μ = 0 and conditional covariance matrix11 Eigenvectors νi of 1\|0Σ comprise columns of the matrix These are graphed in Exhibit 9.28. Recall from Section 3.7 that we likened eigenvectors νi to “modes of fluctuation.” The first three eigenvectors loosely correspond to parallel shifts, tilts, and bends in the yield curve. The mathematics has produced “modes of fluctuation” that our intuition might expect for a yield curve. The remaining eigenvectors reflect more complicated fluctuations that contribute modestly to actual fluctuations in the yield curve. We have where components 1Di are respective principal components. By construction, the 1Di are uncorrelated random variables. Each has variance equal to the eigenvalue λi of the corresponding eigenvector. The covariance matrix of 1D is The variance for 1D1 is 3623, which is far larger than the other variances. It contributes more to the variability in 1R than do any of the other principal components.12 If we consider the variances of 1D1, 1D2, and 1D3, together they account for almost all the variances of the components of 1R. The variances of the remaining 1Di are all less than or equal to 33, which is less than 1% of the variance of 1D1. Intuitively, this means that parallel shifts, tilts, and bends account for most of the variability in the Treasury yield curve. For our principal-component remapping, we discard the contributions 1Di of the last seven principal components. We define a three-dimensional key vector comprising the first three principal components: Let be the 10 × 3 matrix with columns equal to the first 3 eigenvectors νi of 1\|0Σ: Our portfolio remapping has form The first row of the schematic represents the primary mapping. The second represents the linear remapping = (1R). The third represents the principal-component remapping , which is the focus of this example. To assess the quality of the principal component approximation, we consider a diversified portfolio of US Treasury bonds. We generate 1,000 pseudorandom13 realizations 1d [k] of 1D, and calculate corresponding realizations 1r[k] for 1R and for . From these, we calculate realizations and for and . Pairs (, ) are plotted as a scatter diagram of Exhibit 9.29. The approximation is good, but not as good as those obtained in some earlier examples. Compare Exhibit 9.29 with Exhibits 9.10 and 9.15. The approximation could be improved by discarding fewer principal components. In Section 8.7, we constructed a primary mapping for a coffee portfolio. In Section 9.4.1, we applied a holdings remapping, replacing a 30-dimensional vector of coffee spreads 1RSpreads with an 8-dimensional vector . Now let’s apply a principal-component remapping to , replacing it with a 6-dimensional14 vector . Measure spreads in units of .01 USD per pound. Assume has conditional mean vector and conditional covariance matrix - Calculate the determinant of the correlation matrix corresponding to . - Is conditionally singular, multicollinear, or neither of these? - Based upon its first six principal components, construct a principal-component remapping for . Denote your new key vector . - What are the conditional mean vector and conditional covariance matrix of ? - Redraw schematic [9.54], adding your principal-component remapping.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9583092331886292, "language": "en", "url": "https://247wallst.com/special-report/2021/03/26/these-are-the-college-majors-that-pay-off-the-most/", "token_count": 347, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.107421875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:6bc0dd1f-e750-46b2-9355-782c3eac6617>" }	A college education opens the door to higher-paying jobs. College-educated workers 25 and older earned a median income of $56,344 in 2019, according to the U.S. Census Bureau. Workers with no more than a high school diploma earned far less — just under $32,000 per year. Yet not all bachelor’s degrees have the same earning potential with some degree fields generally leading to much higher-income careers than others. To determine the highest paying college majors — that is, the college majors leading to highest-income careers — 24/7 Wall St. reviewed data on average annual earnings for 173 undergraduate majors from the Public Use Microdata Sample summary files of the U.S. Census Bureau’s 2019 American Community Survey. The vast majority of the highest paying majors are in STEM — science, technology, engineering, and mathematics — fields. There are eight different engineering majors among the 25 entries on this list as well as a number of medical specialties. Most of these majors are in fields that require a high level of specialization, such as medicine or research. This means applicants often need advanced degrees — a master’s or even a doctorate — before they can begin working in the field, or in order to advance. While deciding on a major is important to the future earnings of a student, the college itself is important as well. The quality of the education a college provides, alumni connections, and many other factors can set students up for success — or leave them behind their peers. Students must vet their college choices before enrolling to ensure that they are not overpaying for entry to a lackluster college. These are the top ranked colleges that pay off the least.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9496769905090332, "language": "en", "url": "https://addepto.com/ai-fintech-machine-learning-innovate-improve-fintech-product/", "token_count": 2981, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": -0.01068115234375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:c24831bf-99e9-49ff-a213-3f6c1da06301>" }	Just like artificial intelligence and machine learning, fintech is a term which is currently in the public eye. More and more companies move away from traditional financial methods and start implementing fintech instead. Logically, AI and machine learning are very efficient tools in doing this. But how to use them in order to reach the goal? And how can they actually help? What benefits can their implementation bring? We are here to answer all these questions in details, but before we will do this, let us provide you with a short introduction to the world of AI and fintech. AI in Fintech: Definition The definition of fintech, or financial technology, is pretty simple. This is a developing industry which implies using technology in order to improve and simplify diverse financial activities. Some fintech products are widely used by companies to perform financial services. While the other ones significantly change the way people access their finances. Here are a few examples to illustrate the definition of fintech and use cases of AI in Fintech. Examples of AI in Fintech 1. Blockchain and cryptocurrency. Different currency exchange platforms (like, for instance, Coinbase) provide users with a secure way to buy and sell cryptocurrencies. In turn, services like BlockVerify help to improve anti-counterfeit measures and, therefore, reduce the fraud as much as possible. 2. Mobile payments. Nowadays, to pay for something, it is not essential to open a bank account first. Thanks to fintech, smartphone owners can transfer money right from their phones. And some services even offer lower currency conversion rates than banks! Apple Pay is a great example here. 3. Loan platforms. Such platforms and apps are among the most popular ways for companies and customers to borrow money. Instead of preparing tons of documents and applying for a loan in an ordinary bank, users of such platforms get a virtually instant access to funding. They can receive money in a very easy way and at the same day. Some of these platforms have already started implementing artificial intelligence in order to improve security. For instance, the OKash app has introduced facial recognition to secure loans and keep its clients safe. There are much more examples of fintech, but we have mentioned only the most basic ones — otherwise, this article will be much longer. But now, when you better understand what fintech is and why it is useful, let’s move to the main part of our story. In the next section we will explain how machine learning and artificial intelligence (AI) used in fintech companies to become more efficient and successful. AI and Machine Learning in Financial Technology (FinTech) When it comes to artificial intelligence and machine learning, many people start thinking about voice recognition, text processing, and other popular tasks they can deal with. However, in fintech, applications of AI and ML are more specific and complicated. And here are some of them. Risk Management and Loan Underwriting Implementing AI in finance and machine learning solutions to make financial risk management more efficient has become a popular practice nowadays. And that is pretty logical, as machine learning methods are much more effective than those software applications which are usually used for these goals. Apps can only use static information to make predictions, but machine learning offers much more. Apart from using financial reports and other related documents to predict trustworthiness, it can also identify the latest market trends and news which can have an impact on the ability to pay. A trained model can provide you with a detailed and reliable credit risk assessment. Manulife, a Canadian financial services group, is a pioneer in implementing such solutions, and in 2018 they have even announced a $400,000 AI partnership with the University of Waterloo. Profiling and Categorizing the Clients After dealing with customer scoring and credit scoring described in the previous paragraph, banks and insurance companies tend to profile their clients. Artificial Intelligence can be a great help in this case, as it can be used to automate the categorization of the clients on the basis of their scores and risk profiles. Apart from this, when categorizing the clients, the company can decide on what financial services and categories can be associated with each other. When this is done, these services can even be offered to the related categories of clients automatically. To reach this goal, you can use, for example, XGBoost. This classification model can deal with many data science and data engineering challenges. Including customer segmentation and is trained on historical client data. Customer Churn Prediction The customer churn rate is a percentage of clients who stop using the company’s services within a specific period of time. This information is used in order to take preventive actions and, therefore, retain clients, or at least some of them. And artificial intelligence is exactly that tool which can help the company to deal with this challenge and become more successful. It is able to compile a list of clients who seem to stop using the offered services in the nearest future. As a result using this list, company can develop better offer for such people, so, as a result, they may change their initial intention and continue being clients. To build a model, it is essential to use customer behavior data. The data of clients who are not clients anymore, and of those ones who have changed their decision and stayed with the company. Customer LTV prediction (Lifetime Value) Customer Lifetime Value, or LTV, is another crucial factor you need to track in order to improve your customer experience. As a result it helps make your company more profitable. In short, LTV is the customer’s total worth to your business over an entire period of their stay with you. Knowing this data can significantly help you to develop efficient strategies to attract new clients and retain the existing ones. You may think that doing all these calculations is complicated, but artificial intelligence won’t let you get lost. It is able to process and analyze loads of data. On the basis of this analysis and calculations, you will be able to make metric-driven decisions and improve your business strategies. As a result, customers will join your business faster and more often, and buy more. Fraud Detection / Fraud Prevention – one of the most popular use cases of AI in Fintech Any financial services are always related to extremely high security. There is no person in the entire world who would like to be deluded. That’s why it is essential to pay attention to the security and do your best in order to keep your clients safe. And, again, artificial intelligence and machine learning can be a great help. Using them, you can identify and, therefore, prevent any fraudulent operations or transactions. Moreover, that’s the best possible way to do this — on your own. You won’t be able to spot patterns and predict the results with a high accuracy. Better Customer Service Virtual assistants are usually considered as an integral part of diverse e-commerce websites. But, actually, financial and insurance businesses (and other fintech companies) also tend to use them. They are especially helpful in case your website is more or less big, and it may be challenging for a client to find a specific piece of information. In any case, chatbots and virtual assistants work 24 hours a day, 7 days a week, while your technical support agents may not be able to stay in touch with clients all the time. AI is a key for your chatbot / virtual assistant to become really helpful. Such assistants don’t simply follow your instructions — they learn and “behave” according to the customer behavior. They act almost like humans, so your clients get better experience and feel more satisfied. And that’s very important in case you want to retain them. Bank Transactions Search Even if you have done bank transactions categorisation really well, your clients may still need a specific tool to complete the search tasks. A special chatbot is also a solution here — with the help of NLP (natural language processing), it can identify the meaning of the request and then relate it to the specific category (for instance, balance inquiries). Afterwards, the bot processes the search request and shows the results. Such bot is an amazing tool for users which allows them to get rid of the fuss and any potential challenges related to the search. This trick also improves the customer experience, so the clients’ loyalty increases. In general, loyalty campaigns with machine learning are considered to be more successful and efficient than those ones which are not related to artificial intelligence. Therefore, we recommend you to follow our advice and apply the machine learning techniques to retain your customers. Trading and Money Management Algorithmic trading is one of the best solutions for you in case you have to deal with loads of data. Actually, having enough data is a crucial factor — if it is absent, you won’t be able to train the model properly. However, algorithmic trading executes the trades according to your criteria and, as a result, automates the trading process and simplifies the money management. This is how it works: machine learning algorithms analyze the historical market behavior, identify the most efficient strategies, and then make trade predictions (or predict probability of default, for instance). This method is also effective if you have to work with quick price movements. Well-trained model delivers an efficient solution much faster than a human. A few more words about quick price movements. Dynamic pricing is one of those strategies used by the most successful and famous companies of the world, and you can adopt it as well. Backed with machine learning and AI, dynamic pricing can make your business stand out among the competitors. Here is an example for you to make things a bit easier – Uber. Uber is well-known for its fair prices. In many cases, they are lower than fares of other taxi services. However, for example, when a big football match ends, its visitors will have to pay more than usual to get back home. The demand for cars increases, and so do the prices. And when the demand goes down, the fares decrease as well. That’s what dynamic pricing is — a company changes its fares according to the demand and supply. And, again, AI and machine learning can help you to respond to these changes much quicker than you would ever be able to do on your own. In this article, we have already mentioned a few ways to automate or at least to simplify diverse business processes, but this paragraph is going to be devoted to more general issues. So, to make your operations more efficient, back your data processes with machine learning. What result will you get? Automation of back-office and client-facing processes, documents interpretation, proposal and execution of intelligent responses, identification and prevention of diverse unpleasant issues, making regulatory compliance and so on. And thanks to the automation of these processes, you and your team will be able to spend more time on more serious and complicated tasks. You should concentrate on tasks which definitely deserve human attention. There are enough traditional investment models, but they are not that efficient in the modern world. And there are a lot of reasons for that. One of them is market volatility — this factor wasn’t too influential some time ago, but nowadays this is our reality. The market is volatile, and the traditional models are simply not able to meet its requirements. But using a machine learning model, you can quickly and easily identify the market changes and decide how to react. Such a wise strategy will help you to protect your investments and keep your budget safe. Augmented Research Tools A great example of AI in fintech is augmented research tools. Again, if your business is somehow related to the investment finance, you definitely have to spend a lot of time on conducting researches. Finding the data you need may take loads of efforts, but machine learning models can significantly simplify this process and speed it up. For instance, sentiment analysis allows checking large sets of data, tracking diverse trends, and so on. In turn, NLP and data science techniques can help you to analyze financial reports of your company and format the financial statements. You can learn more about data science here Money-Laundering Prevention (AML with AI in fintech) Money-laundering prevention (also known as AML, or anti-money laundering) is a set of laws, procedures and regulations. It’s main mission is not to allow criminals to keep the illegally obtained income as the legal one. This problem has been existing for a very long time and on a global scale, and there is a high probability that it will never disappear completely. In any case, nowadays there are a lot of ways to prevent this issue from happening, and artificial intelligence and machine learning are also used to minimize money laundering. With their help, it is possible to identify specific patterns related to this sphere of crime. What are the results? The detection rates increase, while the probability of a mistake, on the contrary, decreases. Simplified regulatory compliance is another benefit. Global Banks are Using AI in fintech United Overseas Bank (or UOB), a company with a global network, and a leader in Asia, decided to use AI-driven AML technologies. The results turned out to be impressive. Regarding its transaction monitoring, there was a 5% increase in true positives, while the rate of false positives dropped by as much as 40%. These numbers prove that machine learning and artificial intelligence are more than efficient when it comes to money-laundering prevention. We have already told you that artificial intelligence and machine learning in finance can help to prevent fraudulent transactions. However, it is also important to mention your clients’ data — it should be absolutely secure and protected from hackers. Thanks to the combination of big data capabilities and the intelligent pattern analysis, the AI technology delivers a much higher level of security. Those tools which have nothing to do with artificial intelligence are not that reliable. So we highly recommend you to keep your network secure with the help of machine learning. To sum up – AI and Machine Learning in Fintech There are numerous ways to use artificial intelligence (AI) and machine learning in fintech, and now you are familiar with some of them. However, if you still have any questions regarding the probability of delay in payment of invoices, invoice scoring in factoring, how to predict fund trends or anything else, feel free to get in touch with us. We are always ready to provide you with professional advice and recommend best business decision.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.945553183555603, "language": "en", "url": "https://angrybearblog.com/2021/04/trade-incentives-and-whoppers-a-finger-exercise", "token_count": 1124, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1064453125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:4b6d8229-353d-43e3-bdc2-416ea5a797c3>" }	Nick Rowe was looking for the role of money in the Heuristic Macro Model, which is often used to introduce students to Trade economics. The problem he discovered is that there is only a role for money if there is friction in the model, and therefore a two-household (or household-firm or firm-firm) model makes money if not superfluous, then at least a poor substitute to direct barter. Following is a “finger exercise” for introductory economics the way (I think) it should be taught, using that heuristic model and the Whopper story that often is used at the start of Introduction to Economics.1 Telling a Whopper The Whopper story basically has the eager student challenging talk about scarcity and optimal reource allocation by saying, “But I can go into Burger King and get a Whopper for $1 and I can keep ordering $1 Whoppers all night.” The general Professorial Counter runs “well, that wouldn’t really happen because you run out of money and/or they run out of supplies,” which is a missed opportunity. First, relax all of the normal constraints. You have an unlimited cash availability, and the Burger King has unlimited supplies and is open 24/7. Both the workers and any other customers are nether going to be irritated by you buying a new Whopper every five or ten minutes nor start calling their friends/hitting social media to get others to see the “spectacle” (no external incentives to start or stop). Oh, and the $1 price includes any taxes. All Hail Declining Marginal Utility For the first few rounds, both parties will act in keeping with the premise. You get your second, third, fourth, and even fifth Whopper and have spent $5. You also are now less hungry than when you bought the first Whopper. That first Whopper cost you $1–and you valued it at least that much, if not more (consumer surplus >=0). The second was almost as good as the first; still well worth its dollar. The third, fourth, and fifth aren’t being eaten to satisfy hunger pangs, but you enjoy them at the $1 price. You always have the same choice: give a dollar, get a Whopper. But sooner or later,2 you will decide that keeping that next $1 in your pocket is worth more than eating another Whopper (consumer surplus<0). On to the Model From this foundation, the two-household trading model finds the value of money. Household A grows bananas. It produces enough bananas to feed the Household. Household B grows Apples. It produces enough apples to feed the Household. Let’s make it easy: each Household consists of one person. And the people are both such that they could subsist on eating only apples, only bananas, or a combination of both.3 So there is no need to trade for subsistence. Both Households are Price Makers. There are two scenarios at t0: either the parties can agree on a rate by which they exchange bananas for apples or they cannot. In the first case, the market clears (total consumer surplus >=0). The second is more interesting. In the Beginning Assume, for instance, that the banana grower is willing to trade 2.3 bananas for an apple (23 bananas=10 apples). However, the apple grower wants at least 2.6 bananas/apple. So, in terms of bananas, the best possible offer would be 2.3:1 while the best possible bid requires accepting 2.6:1.4 At t0, no deal can be made. As a classroom example, the banana maker initially offers 2 bananas per apple, while the apple grower requires 3. From time t1, both sides know no trade means that they must continue eating only bananas(apples). Their total (and individual) Utility depends on the trade-off between their desire for variety in their diet and their willingness to shift their offered price. Sooner or Later As with the Burger King example above, the Utility of sameness declines over time. Therefore, the willingness to trade must grow. At tn, the offers will have moved such that they come closer and the difference (initially 0.3 and 0.4) between the offers and the Utility of variety will narrow (Total Consumer Surplusn < Total Consumer Surplus0). Eventually, the parties will trade, at some level between 2.3 and 2.6 (Consumer Surplustotal >=0). The “market” moves with new information, which in this case is that one or both parties is more tired of eating only apples(bananas) than determined to trade at their initial offering level. With money as a vehicle for intermediation, the added certainty of pricing will both shift some from Price Makers to Price Takers and adjust Utility calculations. Throw in the uncertainty of future price changes and differences in time horizons, and you get to trading quicker. So, in the two-party Heuristic Model, money is time. 1Feel free to substitute McDonald’s/Big Mac or similar. 2Probably before the store would have run out of supplies even if we hadn’t relaxed the constraints 3Don’t try this at home. 4Apple offer=Banana bid
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9474279880523682, "language": "en", "url": "https://intrustfunding.com/company/are-interest-rates-on-the-rise-the-2016-market/", "token_count": 514, "fin_int_score": 5, "fin_score_model": "en_fin_v0.1", "risk_score": -0.012451171875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:f6e17b9f-437b-481c-9dea-e14e6ec3bb98>" }	After almost a decade, the Federal Reserve increased interest rates from .25% to .5% this past December. The raise is a result of the U.S. Federal Reserve attempting to normalize economic conditions and regulate inflation. This change signals the end of the zero interest rate policy brought on as the result of the 2008 U.S. financial crash. What does this mean for 2016? Interest rates are predicted to increase slowly over the next two years. Fed Chair Janet Yellen stated “The first thing that Americans should realize is that the Fed’s decision today reflects our confidence in the U.S. economy.” As it stands the decrease in unemployment has not affected inflation. Should unemployment begin to affect inflation, the Federal Reserve may be inclined to increase the speed of rate changes. This decision is likely to affect the rest of the world. Comparatively, the United States economy is still the world’s largest economy ($17,968 billion in GDP) with China as a close second ($11,385 billion in GDP). A rise in federal interest rates indicates a stronger U.S. dollar. While a stronger dollar is great for Americans seeking to purchase products in other countries, it also means that foreigners may be less likely to purchase goods from America given the increased exchange rate. What does this mean for you? As the bank short-term interest rate increases, the cost of a loan will also increase incrementally. JPMorgan Chase, Bank of America, Wells Fargo, and U.S. Bancorp raised their lending rate .25% in response to the Fed’s decision. Other outlets likely to feel the effects of this decision include credit card rates and adjustable mortgage rates. While fixed rates including homeowners with fixed-rate mortgages and those with federal student loans remain the same. Additionally, as interest rates gradually increase, the interest earned on savings accounts will yield higher returns. Although there will not be a drastic increase in returns, this is still good news for savers. What does this mean to you as a hard money borrower? Since hard money lenders source their funds from private investors, a change in the federal interest rate does not have a direct effect on hard money borrowers. However, effects of the rate change may cause competition amongst hard money lenders, and in turn affect your borrowing rate. What does this mean overall? All in all, if the Federal Reserve sticks to a slow and gradual interest rate increase your finances are unlikely to change much in the near future.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9306390881538391, "language": "en", "url": "https://online.scu.edu.au/career-pathways/accountant/", "token_count": 621, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.031494140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:94c5d2e1-b336-4187-9e00-9140451f98d9>" }	Accounting Career Pathway Accountants plan and provide accounting systems and services relating to financial dealings for both companies and individuals. They also advise on associated record-keeping and compliance requests.* What does an accountant do? Accountants assist in the formulation of budgets and accounting policies. They prepare financial statements for presentation to board of directors, management, shareholders and statutory bodies. In addition to these tasks, they may conduct financial investigations and undertake audits. They prepare reports, and advise on the sale of businesses, mergers and capital funding. Other areas of accounting include investigating suspected fraud. Accountants can work across all types of business, depending on their area of expertise, and they could also be a small business accountant, or a corporate accountant. Accountants will also examine operating costs and the income and expenditure of institutions, and provide assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements. A career in accounting is varied; accountants can provide financial and taxation advice on business structures, plans and operations. They provide financial and taxation advice on business structures, plans and operations. What’s it like working as an Accountant? Accountants work in offices and during Monday to Friday business hours, however after hours work often increases during tax time. 81.5% of accountants work on a full-time basis. How much do accountants earn in Australia? The average annual salary for accountants in Australia is $94,963, in addition to this - the amount for bonuses depends on the organisation they work for and their experience level. Accountants Career Outlook at a glance Median age is: 38 years old Employment level trends & growth There are a range of specialisations within accounting. A selection of these include, financial analyst, insolvency practitioner, and taxation agent. What are some related job titles to Accountant? - Finance Manager - Accounting Clerk - Auditor and Company Secretary - Payroll Clerk What education do you need to be an accountant? Accountants will need a Bachelor degree in accounting or similar or higher qualification, or at least five years of relevant experience. Sometimes, both a formal qualification and experience is required. Employers highly regard prospective employees who have been accredited by the Institute of Public Accountants, (IPA), CPA Australia (CPA) or the Institute of Chartered Accountants of Australia (ICAA). Online accounting courses at SCU Here's a list of SCU's accounting-related postgraduate courses: Australian Standard Classification of Occupations (ASCO) 2nd Edition, ABS Catalogue No. 1220.0, p131. *Australian Jobs Matrix, 2017 Australian Government Job Outlook: https://joboutlook.gov.au/Occupation.aspx?search=Career&code=2211 Download MBA brochure - Entry criteria - Course duration - Fees and financing options - Courses and assessment types - Industry-related work - Student support - Careers pathways
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9204978346824646, "language": "en", "url": "https://sidsenergy.wordpress.com/2012/04/", "token_count": 509, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.083984375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:a56008dc-ac6a-4460-a8f3-d1262f3c1dbc>" }	Another sign of the rapidly changing (for the better) energy landscape: the southeastern Caribbean island nation of Barbados is taking an integrated, multiple source-multiple use approach as it launches a program to shift away from its almost total reliance on imported fossil fuel imports to clean, homegrown renewable sources for electricity generation and other uses. The Barbadian cabinet on April 5 approved the US$188.5 million Mangrove Pond Green Energy Complex, according to a Caribbean Journal report. The complex is to include solar power and wind power facilities, a new Mechanical Maintenance Facility, a Waste-to-Energy Facility, and a Landfill Gas Management System. In total, the Barbadian government expects the Mangrove Pond Green Energy Complex to produce more than 25 MW of clean electrical power that can be sold on to the island nation’s grid, reducing dependence on fossil fuels and helping reduce greenhouse gas emissions. Barbados relies almost entirely (96%) on fuel oil and diesel to generate electricity; 90% of it imported. That’s comparable to what the island nation spends on education. Barbados’s bill for oil imports in 2009 and 2010 totaled some $230 million, which amounts to nearly 6% of national GDP, about what it spends on education, Senator Darcy Boyce was quoted as saying in a Barbados Today article. Barbados’s Sustainable Energy Framework The government intends to reduce Barbados’s oil import bill significantly, Boyce, who heads the Prime Minister’s Energy Office, told attendees gathered for the launch of the Energy Efficiency Awareness Programme of the Sustainable Energy Framework for Barbados Pilot Project. The aim of the Sustainable Energy Framework for Barbados Pilot Project is to reduce fossil fuel use by some 30% by bringing renewable energy resources online, and to reduce electricity demand by over 21% by implementing energy efficiency measures and technologies over a 20-year period. TheInter-American Development Bank (IADB) is contributing $1 million in investment grants and loans through the World Bank Group’s Global Environment Facility (GEF). Rising global market prices for crude oil and derivatives have been rising consistently for several years, putting greater financial pressure on local businesses and residents alike. The direct effect rising fuel costs have on ratepayers’ pocketbooks and businesses’ operating budgets is compounded by the indirect effects, as they flow through into prices of all imports and are passed on to consumers. More Filed under energy, SIDS, wind
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9310811161994934, "language": "en", "url": "https://www.christs-hospital.org.uk/information/subjects-offered/economics/", "token_count": 512, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.09130859375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:6197341c-9ad3-4d12-907b-b583231945ef>" }	These are fascinating times to be studying A level Economics. Recently, the ‘banking crisis’, and subsequent recession, made us painfully aware of the signiﬁcance of economics to our current and future prosperity. Thousands of people lost their jobs and the wealth and incomes of most households fell drastically. Governments around the world, including those in the USA, UK and China implemented dramatic policies to tackle the problems and improve our prospects. In the UK, the Bank of England slashed interest rates and the Government increased its spending and lent huge amounts of taxpayers’ money to the banks. The Bank of England and its American equivalent have even ‘printed money’ to try to help their economies to grow. More recently the ‘green shoots’ of recovery have become apparent. Improvements in the level of production and employment point to economic recovery. Studying Economics will help you understand many of these real world events and enable you to discuss important economic issues. Should interest rates be kept at their current very low levels? Is it right to start cutting government spending to reduce government borrowing or should the Government spend even more money to help secure steady growth in economy? Which services should be cut or what should they spend more money on? Then there’s pollution and climate change. How can we use economic policies to improve the environment? Is the Euro doomed to failure due to ‘bailouts’ for countries like Greece and Ireland? Why did the UK not adopt the Euro in 2002? Does globalisation beneﬁt the rich countries more than developing countries? Is the recovery in the housing market sustainable? Studying Economics will involve: - Learning about the fundamental economic theories. These will be explained by your tutor who will make use of excellent textbooks, media and ICT resources. Developing an understanding of the key economics diagrams, such as supply and demand, will be vital to your enjoyment of, and success, in the subject. - Investigating real world economic issues such as business decision making, world poverty and inequality, global recessions, controlling inﬂation and reducing unemployment. Reading from ‘quality’ media sources will be encouraged. - Developing a range of key skills that will enable you to achieve success at A level, university and in a future career. You will improve your ability to research information, interpret data, identify problems, assess solutions, write essays and reports, work with others and communicate verbally (e.g. in discussions and giving presentations).
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9713842272758484, "language": "en", "url": "https://www.industry360.co.in/credit-risk/days-past-due-easily-explained/", "token_count": 852, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.1025390625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:156ec726-697a-4802-a2fe-59e395cc15a6>" }	Before you understand Days past due. Let’s understand Past due which means overdue. For example, let’s assume your credit card payment is due on October 15. You forget to make the payment. On November 16, you finally remember. By then, though, it’s too late. Your bill is past due. Days Past-due or DPD means, that for any given month, how many months’ worth of payment is unpaid and this information is for each account. This means that if you have 3 different loans going on, then you will have DPD information for each of those accounts. For each account you can see Days past due information for each month for the last 3 years, i.e., 36 months. Example – Month 06-19 and DPD value is 90 If DPD value is 90 for a month say 06-19, it means in June 2019, the payment is due for the last 120 days, which means 4 months dues! So you can now understand that the DPD in the last month (May 2019) would be 90 and for Apr 2019 would be 60 and for Mar would be 30. In case the DPD indication is not ‘000’ or ‘XXX’ it means that you have missed making a payment. The information recorded is up to the last 36 months of payment history. If in case you have any other information in your report other than ‘000’ or ‘XXX’, which means that you have not been paying the loan or credit card bills on time. This is a red flag and serves as an alert to the credit institutions that you are not capable of servicing your loan well. ‘XXX’ means then it simply means that the bank has failed to report the data for that month and it does not impact you at all. ‘000’ means the dues are totally clear on that date and nothing is outstanding. Like many other factors that influence a credit score, DPD is one of the most crucial ones as it tells about your repayment behavior. “The ABA report defines a delinquency as a late payment that is 30 days or more overdue” Credit card delinquency is a credit card status that indicates your payment is past due by 30 days or more. For example, assume a recent college graduate fails to make a payment on his student loans by two days. His loan remains in delinquent status until he either pays, postpone,s or forebears his loan. Missing your credit card payment puts you at risk of becoming delinquent. At that point in time, your late payment status is reported to the credit bureaus and is included in your credit report. A late payment is added to your account and your credit card issuer may begin calling, emailing, or sending letters to get you caught up on your account again. “The rate at which credit card balances become delinquent has been rising, and that has coincided with an increase in younger borrowers entering the credit card market,” Andrew Haughwout, senior vice president at the New York Fed and one of the authors of the blog post, said in a press release Once your payment is 60 days delinquent, your credit card issuer is allowed to raise your interest rate to the penalty rate. The credit card penalty rate, which is also known as the default rate, is the highest interest rate charged by a creditor or lender. The penalty rate is charged as a consequence of becoming delinquent on payments by 60 days or more. The penalty rate will remain in effect for six months. After you make six consecutive payments on time, the rate will go back to normal for your existing balance. Generally, the immediate impact of delinquency is a 25 to 50 point decrease in the borrower’s credit score. However, additional decreases can occur if the delinquency is not corrected thereafter. “TransUnion’s Industry Insights Report found the credit card delinquency rate reached 1.81% in Q3 2019, rising from 1.71% for Q3 2018” Check out more such content on this Link
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9448837637901306, "language": "en", "url": "https://www.investopedia.com/ask/answers/072915/how-market-value-determined-real-estate-market.asp", "token_count": 958, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": -0.013671875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:109ebb5a-3dd3-48f2-8855-b6f53d924c67>" }	What Is Fair Market Value? Anyone who has ever tried to purchase or sell a home will be familiar with the significance of a property's fair market value, or FMV. FMV is the price that property a would sell for on the open market under usual conditions. Thus, the FMV is significant to those who own a property, as well as those who must pay taxes on that property. Taking a property-based deduction requires determining the FMV. The term is also widely used in the real estate investment market. Unfortunately, there is no easy or universal way to determine market value for real estate. However, nearly every market valuation comes down to two factors: real estate appraisals and recent comparable sales. - The fair market value is the price a home would sell for on the open market under normal conditions. - Fair market value (FMV) is often different than actual market value or the appraised value and is used in some property tax evaluations. - Guidelines on how to fairly evaluate a property's value are spelled out by the IRS. The Economics of Market Value The value of every good in a market economy is based on price discovery process. Producers and resellers propose hypothetical values and hope to find buyers with similar valuations. In contrast, consumers bid up or push down prices based on their changing interpretations of the value of goods. This process is imperfect and ever-changing. For the real estate market, a buyer must value a property higher than the amount they are willing to trade for that property. At the same time, the seller must value the property at a price below the money offered. Of course, the supply and demand for a home in a given region will play into these economic evaluations, as well the state of the broader economy in terms of GDP growth, unemployment, and inflation. Appraisals and Comparable Sales An appraisal is a professional opinion of value. During a home sale, the bank that offers the home loan will typically select an appraiser to render an opinion about the value of real estate as of a specific date. Comparable sales, also known as the "market data" approach, is the most common way to arrive at market value. Here, the recent sales of properties of similar stature are reviewed to inform judgment. If prices of recently sold homes that generally match the same criteria as your own (e.g, in terms of size, number of rooms, amenities, etc.) are high, you are likely to also get a more favorable appraised value. Note that the appraised value may end up being quite different from the actual sale price in the market. IRS Publication 561 The governing tax code publication for the fair market value of real estate is IRS Publication 561. This publication addresses all types of property valuations including cars, boats, collections, used clothing, securities, patents, annuities, and many others. But it does not set aside a section for determining real estate market value. Publication 561 explicitly states "a detailed appraisal by a professional appraiser is necessary" for proper valuation. Three approaches are considered acceptable by the appraiser: the comparable sales approach, capitalization of income approach, or the replacement cost new method. Comparable Sales Approach The comparable sales approach compares a property to other properties with similar characteristics that have sold recently. This method takes into account all the features of the property, for example, its size, the number of bedrooms, and the effect that individual features have on the overall property value. Capitalization of Income Approach The capitalization of income approach values an investment based on the expectation of future benefits. This method relates the property's value to the market rent that it can be expected to earn and to the resale value. Replacement Cost New Value Approach The replacement cost new value method determines the current cost of constructing a property with the same utility using the current construction materials and adhering to current design standards and layouts. The Bottom Line Regardless of how you value a property, at the end of the day, the amount of money received for a home will be negotiated between a buyer and a seller. Each party may use valuation techniques to help argue their case, but a deal is typically reached with some compromise and some personal back-and-forth. Mortgage lending discrimination is illegal. If you think you've been discriminated against based on race, religion, sex, marital status, use of public assistance, national origin, disability, or age, there are steps you can take. One such step is to file a report to the Consumer Financial Protection Bureau or with the U.S. Department of Housing and Urban Development (HUD).
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9530569911003113, "language": "en", "url": "https://www.orowealth.com/insights/blog/manage-household-on-budget/", "token_count": 943, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.02001953125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:413fc5e5-3c29-46a8-ab3c-e8ac66e9349e>" }	Have you ever tried making a dish without reading its recipe? No, right. Well, budgeting is similarly crucial to running a household. Without knowing how to go about it, you won’t be able to relish the sweet taste of success. If you have been spending more than you should, budgeting will help you tighten the ropes. Not only will it give you a clarity about your spending patterns, it will also teach you to live within your means. Budgeting is the foundation of a strong financial plan. It is like a roadmap that will lead to your financial goals. Don’t worry if you have been delaying this task because numbers overwhelm you. Follow these steps to make your budget and track your finances. - Chart out your long term and short term goals – Financial goals vary from family to family. Renovating your house or buying a car may be on your mind. It will only remain a dream until you start saving up for the purpose. Monthly tracking will tell you where you stand on your progress. - Focus on paying off debts – Clearing your debts will not only help in expanding your savings pool but will also provide mental peace. If you have a couple of loans, clear off the one with the highest interest rate first. You will end up paying lesser interest and thus save some money. - Track your spending – Take out your last three months’ bills and split them category wise. Classify them under different categories like shopping, fuel, grocery etc. This activity will indicate where you have been spending too much and where you can cut down. - Create a budget – Your spending pattern will help you create a realistic budget. Warren Buffet said, “Don’t save what is left after spending but spend what is left after savings.” This holds true for everyone. Deduct your savings from your income. Split the remaining amount into your expense buckets. To keep a better record of your expenses in the future, you can install budgeting apps on your phone. They are easy to use and will tell you if you have exhausted your budget on any category. With these apps, you won’t go overboard. - Discuss with family – You cannot create a budget all by yourself. You need to have it approved by everyone in the family. Bring them to the table and show them your cash flows. Explain why budgeting is important and bring everyone on board. You can provide alternatives like going on a picnic instead of taking children out for the movies. - Reduce your spending – Look at your past expenses and cut down on the categories where you would ideally like to spend less. It could mean eating out less frequently or curbing impulsive shopping. One effective way to do this is to stop using credit cards for impulsive shopping. Using debit cards or cash for your transactions will keep you in touch with reality. - Increase your savings – Set up reminders so that you do not forget your bill payments dates. This will save you from late payment charges that are non-essential expense items. Consider becoming members at your frequently visited stores to get discounts. You can also buy groceries online as some websites often run special discounts. You can use credit cards for your essential expenses like bills and groceries so that you can earn reward points. These points carry monetary value and can be reimbursed as shopping vouchers. - Use a list when shopping – Hypermarkets are designed in a way to lure you into buying things that you don’t need. Always make a list of the things that you need before going shopping. This will help you from buying unnecessary items. - Treat your family – being on a budget doesn’t mean you will change your lifestyle overnight. Treat your family once in a while. Think of non-expensive ways to do this. Take your kids on a hike or on a picnic. Invite your friends over instead of eating out with them. Once you start spending consciously, you will also find newer ways to entertain. - Revisit your budget – Every family’s needs change. The kids will grow and will have more demands. You need to revisit your budget at least once every six months to accommodate these changes. You may also find that you have been spending less on one category as per the estimated budget. Or you may get a raise at office giving you more disposable income. Reevaluate and make necessary changes. Congratulate yourself once you have done this! You are on your way to financial happiness. Running a household is no mean task. Budgeting will ensure that you spend on the right things and also save for a better future.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9694609045982361, "language": "en", "url": "https://www.pragmaticmom.com/2016/06/rowe-price/", "token_count": 1252, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.2421875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:def5d352-1bd9-4698-80a9-16bbd59018a2>" }	This post is sponsored by T. Rowe Price and Scholastic. The ideas and opinions are my own. I am so happy to be joining Scholastic and T. Rowe Price to help parents teach their kids personal finance. I noticed from my kids that each came forth into the world with an innate sense of money. My oldest, Grasshopper and Sensei, is an artist, and I’ve worked with her on how to earn money using her talent. She sells hand painted greeting cards, and is thinking about expanding her business by printing T-shirts. Her inclination towards money is: - Spend it if you have it (thus she needs reinforcement to save). - Art supplies are more important than food (thus she needs to work on her choices). My middle daughter, PickyKidPix, is the polar opposite of her sister. When she was six, she wanted to know the difference between simple interest and compound interest. At ten, she wondered about who owns the money printed by the U.S. government. Now, she’s trading the stock market. She’s the most materialistic and her inclination towards money is: - Spend but get someone else to pay for it. - Save, save, save with a focus on collecting money owned to her. My son is quite different from both his sisters. His wants and needs are simple and usually revolve around screens — a request to rent a movie, an app once in a while, and every blue moon usually coinciding with his birthday, he will request a video game that is not out for another six months. His attitude towards money is: - No, thank you. I don’t need it or want it. - I don’t want to spend your money Mommy (with the exception of candy from the drug store). It’s not surprising to guess who has the most money in their savings account … PickyKidPix. And who has the least? Grasshopper and Sensei. As a parent, I clearly have my work cut out for me. One place to start is talking about money with each kid differently. Grasshopper and Sensei needs reinforcement on saving versus spending. Our new saving policy is that I will DOUBLE their saving deposits but they have to keep the money in their account until college. PickyKidPix takes full advantage of the savings incentive. I am working with her on how the stock market works and what bonds are. She has natural entrepreneurial instincts so we talk about her different business ideas and how to get them off the ground. My son needs to learn the value of money. Once, when PickyKidPix told him that he couldn’t enter her room without paying her, he handed over $5 for entry. He is generous with his money which I like, but he needs to be more savvy about causes that are worthy of donation. T. Rowe Price’s 2016 Parents, Kids & Money Survey revealed that parents’ behaviors are often at odds with their concerns about setting a good financial example for their kids. - 71% of parents have at least some reluctance to discuss financial matters with their kids. - Nearly as many parents are uncomfortable discussing family finances (58%) as they are discussing death (59%). - And 35% of kids say they are aware with parents are uncomfortable discussing money I think it’s important to talk about money with kids. Equally, it’s OK to say that you don’t have the answer and that you will look it up together. One summer learning opportunity for everyone might be to create a budget. It could be as simple as $20 set aside for summer activities to either SAVE, DONATE, or SPEND. It’s fun to see what kids come up with. Summer Learning Ideas to Teach Kids About Money Summer vacation is a great opportunity to reinforce financial lessons with your children and model smart spending habits. For many kids, summer is a chance to learn how to earn and spend their own money. By earning cash though summer jobs, chores, and allowances, kids can begin to learn lifelong lessons about spending and saving. Here are some ideas for personal finance summer learning for kids: - Have your child open a bank account. Although interest rates are currently very low, they can still learn about compound interest. - Make a game out of finding ways to save money. Let your kids come up with ideas for the household to save money. A few examples would be to run the dishwasher only when it’s full, or to wear PJs twice to save money on washing and drying. Let them turn their imaginations loose! - Take advantage of the articles on the AICPA’s 360 Degrees of Financial Literacy website about talking to children about money. - For older children with earned income, establish an IRA with part of their earnings (perhaps adding a parental match) to teach them about investing and saving for retirement. How about you? What has your experience been talking about personal finance with your kids? Please share! Thanks! p.s. If you are thinking about setting up an allowance system for your kids, here’s some interesting findings from T. Rowe Price’s 2016 Parents, Kids & Money Survey: - 46% of parents start to give an allowance to their kids between the ages of 5 to 9 - 30% of parents start to give an allowance to their kids between the ages of 10 to 14 - 60% of parents give an allowance that their kids have to earn - 61% of parents give $10 or less a week as allowance I’m collecting ideas to teach kids personal finance here on my Pinterest board, Personal Finance for Kids: BEST #OWNVOICES CHILDREN’S BOOKS: My Favorite Diversity Books for Kids Ages 1-12 is a book that I created to highlight books written by authors who share the same marginalized identity as the characters in their books.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9602464437484741, "language": "en", "url": "https://www.westfinancial.com/blog/categories/estate-planning", "token_count": 108, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0458984375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:cfa60480-f110-42ab-894e-cc2e509ff733>" }	If you want to own Bitcoins or any other cryptocurrency, you need to have a digital wallet. The purpose of a digital wallet is to provide a space to send and receive cryptocurrency and to store private keys. Private keys are known only to the owner and are needed to authorize transfers. In the cryptocurrency system, a user’s “wallet” or account address has a public key (like a bank account number). The private key (like your ATM PIN number) is known only to the owner and is used to sign transactions.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9606882333755493, "language": "en", "url": "https://appliedabstractions.com/2010/01/17/chandler-scale-and-scope/", "token_count": 5047, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.04931640625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:c2af21d5-2cae-4ec6-bfb1-48bf410ebe71>" }	I am teaching a doctoral class on Al Chandler’s Strategy and structure this week, so I thought I should dig out and clean up my notes on Scale and scope. And publish them here while I am at it. Caveat emptor, of course. Summary/notes on Alfred D. Chandler Jr. (1990): The Modern Industrial Enterprise The modern industrial enterprise grew in three steps: - investments in production facilities large enough to exploit a technology’s potential for economies of scale and scope - investments in national and international marketing and distribution network - the recruitment and organizing of managers to supervise the functional units, and, more important, to coordinate them. Managerial capitalism (topic of Chandler’s The Visible Hand) refers to “a new type of capitalism–one in which the decisions about current operations, employment, output, and the allocation of resources for future operations were maid by salaried managers who were not owners of the enterprise”. Scale, Scope and Organizational Capabilities (General theory of why and how industrial enterprises began and evolved). The industrial enterprise is a subspecies of the business enterprise. In addition to having a number of distinct operating units and being led by salaried managers (the two basic characteristics of business enterprises), it carries out modern production processes. The industrial enterprises grew by adding new units – different in terms of geography, economic functions or products. These units were added because they provided - economies of scale: “when the increased size of single operating unit producing or distributing a single product reduces the unit cost of production or distribution” - economies of scope: “resulting from the use of processes within a single operating unit to produce or distribute more than one product”, also termed “economies of joint production or distribution” In production, increased output in the old, labor-intensive industries came mainly by an increase in size (adding more machines and people). In the new, capital-intensive industries increase in output came as a dramatic reduction in capital/labor ratios, due to new machines and processes. Thus, economies of scale were much more important in capital-intensive industries, whereas in the labor-intensive one the large firm did not have significant advantages over the small ones. Economies of scope came from producing many different end products with the same raw material and intermediate processes “The potential economies of scale and scope, as measured by rated capacity, are the physical characteristics of the production facilities. The actual economies of scale or scope, as determined by throughput, are organizational. Such economies depend on knowledge, skill, experience and teamwork–on the organizational human capabilities essential to exploit the potential of technological processes.” (p. 24) The reason for the sudden appearance of the large hierarchical organization needed to exploit the economies of scale and scope around the end of the nineteenth century stems from modern transportation and communication (telegraph, railroad, steamship, cable) that were reliable and fast enough to maintain throughput. “Thus, the revolution in communication and transportation created opportunities that led to a revolution in both production and distribution”. (p.26) In distribution, the firms initially grew “by integrating forward into distribution and backward into purchasing” (p.28). One reason for this was the increasing “product-specificity”; as products became more complex, it was not cost-efficient to have a wholesaler handle the difficult transaction processes. Another reason was competition; in the fierce battle for market share in an oligopolistic marketplace an intermediary who made his profit from handling products of more than one manufacturer became redundant. In addition, the sales force provided information about the market. In purchasing, the reason for integration came from a need for coordination, and the cost reduction from buying in volume. The hierarchical organization was set up along functional line; production and marketing came first, then purchasing, R & D and finance. Later came smaller departments like traffic (transportation), engineering, legal, real estate, and even later personnel and public relations. The head of the major functional departments, the president and sometimes a full-time chairman of the board was the senior decision-making unit. First-movers into a market or a technology got competitive advantages; in general, challenging the first mover meant taking customers away from him, difficult since the first-mover already had achieved economies of scale and scope compared to the challenger. Since it was difficult to challenge a first mover, only few could do it; the well-established companies who had the financial muscle necessary. Thus the capital-intensive markets quickly became oligopolistic, occasionally monopolistic. The firms competed for market share and profits often using price as a competitive weapon, but mostly by functional and strategic efficiency. Once the industrial enterprise was established, it grew in four ways: - by horizontal combination (acquisition and merger of competitors) - by vertical combination (acquisition of units upstream and downstream) offensively: (generally preferred) - by geographical expansion - by product diversification (the making of new products related to the firm’s existing technologies or markets) The two latter strategies resulted in a modification in administrative structure; the multidivisional structure appeared. The corporate office let go of day-to-day operational responsibilities, instead focusing on performance monitoring of the divisions, planning and implementation of long-term corporate strategy, and specialist advice through corporate staff to the top and middle management of the divisions. The staff usually was composed of the old financial department, a corporate personnel office and a central research laboratory. The divisions had responsibilities for a single product line, or sometimes a geographical area. Labor-intensive industries (such as textile, lumber, printing) did not provide competitive advantages for large integrated companies. In some of these industries the mass retailers came to dominate, with large, efficient purchasing departments that eliminated the intermediaries. The United States: Competitive Managerial Capitalism Key characteristics: Oligopolistic competition between large, integrated companies, primarily in consumer goods. - the Sherman anti-trust act (1890) which ended an era of horizontal cartel organizations, which evolved into single companies capable of enforcing rationalization on the individual units. Change of focus from controlling price and output to maximizing throughput. - 1911: Standard Oil, American Tobacco and du Pont dissolved by court ruling - all the mergers and acquisitions decreased owner family influence–instead investment banks became important - engineering (MIT 1880s) and business schools (Wharton first in 1881) to supply the production and business managers (this also in Germany, not in Britain) - as the complexities of running a large company increased, the inside directors (full-time managers of single units) gained control of the instruments of power (the organization), whereas the outside directors, who sat on boards, representing the owners and financiers of the companies, still held the legal power over the companies. - in the “stable” industries, such as oil, rubber and steel, expansion came mainly by vertical integration through mergers and acquisitions. The primary example is Standard Oil, which initially achieved a monopoly in distribution, but after its dissolution became several fully integrated companies competing in a oligopolistic market - in food and chemicals the expansion came mainly through diversification into new products (Du Pont started out in explosives but moved into paint, nylon, rayon, other fibers, plastics and photo chemicals) and markets (exemplified by the large producers of perishable foods, such as Anheuser Bush, who invested heavily in distribution, using new inventions such as the refrigerated rail car. - in machinery the picture is more mixed, but product diversification and geographical expansion was the most common strategies. - in transportation, the main examples are Ford and GM. Ford achieved first mover advantage by dominating the low end of the auto market. Henry Ford’s autocratic management style and failure to understand marketing led to a disastrous fall in market share (from 57 % in 1921 to 31 % in 1929), which was captured by GM under Alfred Sloan, and Chrysler. GM used R & D heavily, also commercializing the Diesel engine in locomotives, thus replacing steam engines with diesel in railways in less than a decade. - in electrical and electronic equipment General Electric and Westinghouse became dominant first movers, General Electric being a merger of amongst other companies Edison. these companies became system builders, hiring a technically trained sales force to market their products. The two leaders cross-licensed patents, giving them a stronghold on the market. The complexity of the machinery industries made the managers most influential; bankers and owners did rarely have much say in the strategy of the companies, except in financial difficulties. Lessons from the American experience: - patents not powerful deterrents to entry; the main first-mover advantage in complex products was the investment in product know-how; the challengers would normally take to long to follow up - mergers not successful when not followed up by rationalization - advertising not a powerful deterrent either The overriding importance of the “three-pronged investment” (production, distribution and organizational capabilities) stressed again. The complexity of the decision-making med the American companies to pioneer the multidivisional organizational structure. Great Britain: Personal Capitalism Key characteristics: Family-owned companies, where the owners prefer to take out profit as dividends and keep their day-to-day influence, leading to Britain coming in late in the second industrial revolution. The term “personal capitalism” refers to the fact that British companies to a much larger extent than their American and German counterparts were “personally managed”, both in terms of having smaller managerial hierarchies and being managed in a “personal” style; the British senior managers directly supervised middle and lower level managers, and therefore did not need the elaborate organizational structures and artifacts of the American and German corporations. The entrepreneurs and their heirs played retained their power; the salaried manager never got to have the final say about corporate strategy. The owners were more interested in stable income than reinvestment in competitive advantage, taking out profit as dividends rather than making the “three-pronged investments”. Stabilization in the market was achieved by cooperation between competitors. The British population was smaller and more urban than the American. The mass distributors in Britain concentrated on the urban working class, carrying a smaller line of goods, integrating backward, and being managed non-hierarchically. Cooperatives were much more prevalent than in the US. Investments were made in distribution, but in production the investments were smaller and followed an evolutionary pattern. British industrialists concentrated on branded and packaged consumer goods, particularly food. A notable exception to the personally managed firms was the large Irish brewery Guinness. In the capital-intensive industries large firms appeared in rubber (Dunlop), glass (Pilkington), explosives (Nobel), chemicals (Courtaulds). Growth was financed from retained earnings, keeping the families in control. In machinery and electrical equipment, chemicals and steel, American and German firms won the competition, largely because the British industrialists failed to invest enough. Once foreign firms had made the scale and scope investments, the opportunity window was difficult to reopen. Mergers and acquisitions in Britain were motivated by market control, and the merged companies remained discrete units, with committees doing the coordination. Little rationalization was done. The family domination continued, with managers being trained at work instead of at educational institutions. There never was established a tight link between universities and the industrial community, as in Germany and USA. Chandler divides British industries into the “stable” (oil, rubber, industrial materials, textile) and the “dynamic” (machinery, industrial chemicals and branded, packaged products). In oil, the first world war gave the British oil companies. Anglo-Persian, (Anglo-Iranian in 1935, BP in 1954), became a vertically integrated company in the years from 1912 to 1920, creating a large, functionally departmentalized organization structure. In the world’s first oil glut in 1928, Anglo-Persian, Royal Dutch-Shell and Jersey Standard met at a hunting castle in Achnacarray in Scotland to set up an agreement which stabilized market share and prices “as is”. Texaco, Gulf, Standard Oil of California and Socony-Vacuum (later Mobil) joined the Big Three in 1932; this oligopoly of the “Seven Sisters” remained in power up to the 1970’s. In rubber, Dunlop became the dominant firm by expanding its production and marketing facilities. The founding family, which had created its domestic dominance, lost control in 1922, after which it expanded internationally, competing successfully in all markets except USA and Canada, were the American first-movers were too strong. In industrial materials (rayon, stone, glass, clay, paper, metal fabrication and making) some strong organizations emerged (such as Pilkington Brothers in glass, and Stewart & Lloyds in steel). The firms remained family-owned and operated, with formal or informal agreements to restrict competition. Attempts at rationalization through mergers in iron and steel had limited success. Textiles was a much more important industry in Britain than in the US, but automation was slow to come compared to USA. The British textile industry was the world’s largest buyer of dyes, mainly buying from Germany. Of the dynamic industries, machinery was dominated by American subsidiaries, although British auto makers such as Morris and Austin regained most of the market, much like GM and Chrysler had taken it from Ford in the USA. In electrical consumer products, EMI was the exception, becoming a worldwide market leader along with RCA. In chemicals, following extensive rationalization, Nobel and Brunner Mond merged into ICI in 1926. ICI became Britain’s dominating industrial company, organized like du Pont with patents-and-process agreement which called for full exchange of technical infor mation between the two firms. Similar agreements were made with IG Farbenindustrie, SO New Jersey and Royal Dutch-Shell for coal-based fuel technologies, with German and Norwegian (Norsk Hydro) in nitrates, and with the International Dye Cartel in dyes. ICI established ties with researchers, inventing polyethylene in 1935. ICI soon rivaled du Pont in inventiveness, making it an even partner in the technological agreement. In 1962, ICI changed into a multidivisional structure, with the help of McKinsey. In branded, packaged products (“the bastion of the family firm”) the only other major British firm to adopt a multidivisional structure, Lever Brother (Unilever from 1929) did almost everything different from their competitors. It started out as a family owned soap company, investing in production, marketing and management until it was the largest soap producer in Britain. It integrated backwards, buying suppliers of raw materials around the world. From 1910 to 1920, it acquired all its major rivals, largely through exchange of stock. In 1926, despite still being a family-led operation, it had an organizational structure close to multidivisional. In 1929 it merged with the Dutch company Margerine Unie, the dominant producer of margarine in Britain. It was the largest international merger before World War II and made Unilever the largest industrial enterprise in Britain. After rationalization it retained the most of the British market, competing chiefly with Procter & Gamble and Colgate-Palmolive-Peet. Lessons from the British experience: - the failure to use scale as a competitive weapon, and the failure to set up a managerial organization, was the main reasons Britain slipped from second to third place in production. - British firms paid no attention to organizational structure; they developed in an evolutionary manner rather than as a result of careful planning - a large and stable income rather than risky investments was the rule for the family-operated companies (with some exceptions) may be the most important reason that Britain lost out in the second industrial revolution “In sum, the collective histories of British enterprises demonstrate the essential need to create and maintain competitive capabilities in order to assure continuing profitability and productivity in an industry”. Germany: Cooperative Managerial Capitalism Key characteristics: Large, integrated companies, primarily in production goods, managing the oligopolistic markets mainly by cooperation through negotiation. Despite the competitive setbacks suffered by the German industries during the first World War and the crisis years of 1918-1920, the capability of the German industrial enterprises made them successful competitors abroad. The main difference between Germany and Britain is the dominance of salaried managers, the main difference between Germany and the US is the concentration of integrated enterprises in producer’s goods, the prevailing of some families, and, most important the strong cooperative climate between companies. German companies paid more attention to their work force than their American counterparts, creating a system termed “organized capitalism” by German historians. Germany had a more rural population pattern than Britain, especially in the Eastern parts. The coming of the railroad was more important than in Britain, where distances were shorter and the availability of alternative transport (canal, sea and road) was more available. The railway was nationalized in the 1870’s at Bismarck’s initiative. The building of railways and other industrial enterprises led to the growth of new, large financial institutions. The new banks played an important part in creating the German industrial enterprises, because of their relative size (compared to American banks) and their participation in top-level decision-making. Contrary to Britain and the US, there were no legal constraints to trade in Germany. Even so, the cartels set up were often not successful, since the trade associations had no means of enforcement. German institutions of higher learning were pioneers in institutionalizing the systematic acquisition and transfer of knowledge, providing the best technical and scientific training in the world. In 1910 Germany had 16.500 students of engineering, compared to Britain’s 1100. The advent of business schools (Handelshochschulen) came in 1900, about the same time as in the US. The ties between research institutions and the industrial community was especially strong in chemistry, electrical equipment, metals, non-electrical machinery and optics. In Germany, Chandler divides up the industries in the German contemporary terms the lesser (rubber, rayon, synthetic alkalies, explosives and light machinery) and the great (iron and steel, copper, heavy machinery, dyes, fibers, fertilizer and other industrial materials). Since the German economy was transformed into a “command economy” twice (during the two world wars) he discusses the pre-WWI and the period between the wars separately. In branded, packaged material there was less entrepreneurial response in Germany than in the US, the direct link between producer and consumer never becoming as prevalent. In other industries there were some success, such as the two oil companies Deutche Petroleum and Deutche Erdöl. These companies, who had their sources in Rumania and the Baku area near the Caspian Sea, would probably have been major members in the world oil oligopoly had not the first world war and the subsequent Russian revolution disrupted them. In rubber, Continental became a major player, along with Michelin of France. Pfaff challenged Singer in sewing machines. Bosch made electrical parts for cars, AEG became a giant in electrical machinery. In general, the first mover dominated the industry. The great industries in Germany clustered around heavy machinery, chemicals and metals. In machinery, economies of scope were exploited. In locomotives, Hanomag expanded into trucks, BEMAG into typesetting machines. Other makers of transportation equipment included MAN, Opel and Deutz. In electrical machinery, Siemens and AEG (Allgemeine Elektricitäts-Gesellschaft) dominated, concentrating production in massive factories and employing world-wide sales organizations. These two companies, together with GE and Westinghouse, shared the world market. Siemens diversified into telegraph and communications, competing with AT&T. Together they started Telefunken, the continental pioneer in radio. In chemicals the German industries became dominant through three large companies: BASF, Bayer and Hoechst. These companies exploited the economies of scope heavily, expanding from dyes into pharmaceuticals (Bayer: Aspirin, Hoechst: Novocain). AGFA (somewhat smaller) diversified into photographic film. In pharmaceuticals, Schering, Merck, von Heyden and Riedel built global enterprises before WWI, giving Germany a world lead in chemicals. The companies formed IG’s (Interessengemeinschaften) to coordinate the markets. In steel, Germany was the leader in Europe, with large works primarily located in the Ruhr area. These works (Thyssen, Krupp and Stumm amongst others) integrated forward into machinery. The first World War took away the markets for German industrial enterprises. Their facilities in the allied countries was seized by governments, later acquired by their competitors. Competitors from foreign countries moved in. After the 1918 armistice came a political revolution, a weak government, inflation and hyper-inflation, mainly due to the harsh terms of the surrender. France occupied the Ruhr area in 1923. The Dawes plan of 1924 stabilized German economy. From then on the recovery was impressive; generally, the German companies regained their market shares in less than five years. Exceptions were oil, where the British Anglo-Persian Oil company took over, and in to a certain extent the lesser industries. The German automobile industry started, with companies like Daimler-Benz, Adam Opel, BMW, Adlerwerke, Audi, Horch, DKW and Wanderer. Ford, Chrysler and GM established German subsidiaries, but were locked out by tariffs until Sloan of GM bought 80% of Opel in 1929. Opel then quickly became Europe’s largest producer of cars. Ford overinvested in a large plant and was priced out of the market. In the great industries, recovery was rapid. Siemens and AEG, having lost all their foreign facilities, still recovered to their old glory by 1929. In steel, were Germany lost 70% of its inland ore sources to France, rationalization was needed and came with the merger of most of the industry into the giant Vereinigte Stahlwerke in 1926. In chemicals, the formation of I.G.Farbenindustrie A.G., a giant alliance between Bayer, Hoechst, BASF and 5 other companies in 1925 was followed by rationalization, making the IG the “most powerful industrial enterprise both home and abroad”. - the dominance of owning families, who preferred income over growth (that is, took dividends rather than reinvesting their profit) in British companies was the main reason for the British industries to lose market share, and subsequently profitability, to the American and German companies. - organizational capabilities the key. These organizational capabilities were mainly developed in firms that had to compete in production or market development, whereas the more traditional companies, in where the production process remained simple and the markets stable, this did not happen - first movers often let their advantage disappear, sometimes because the managers moved to competitors (Ford is a poignant example). - challengers to first movers often large, well established companies moving into new markets - the role of managers was to develop existing businesses; invention left to outsiders; subsequently, investment in R&D was low - diversification key to growth After the wars: Chandler gives a short history of the evolution after the second world war. The most important trends were: - the eroding of the British market shares, given away to Germany and USA - the coming of Japan, who mastered technology transfer - the diversification in the late 60’s and the divestitures in the 70’s (leading to a lack of communication between corporate and functional offices). - the change in ownership: form long-term oriented individuals and institutions to portfolio managers - the coming of managerial capitalism in all countries, even Britain - the intensified competition from the 60’s on - the coming of information technology
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9336051344871521, "language": "en", "url": "https://blog.epa.gov/2013/11/20/greening-federal-purchasing/", "token_count": 746, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1298828125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:6a2d46a5-a577-420f-86c5-db7d7687950b>" }	Making Federal Government Purchasing Greener With the holiday season around the corner, your family may seem like the biggest purchaser of goods and services— but holiday season aside, the government is the largest single purchaser of goods and services, in the world. In fact, the federal government purchases more than $500 billion per year in goods and services. Although our shopping list may contain similar items as yours – cleaning products, light bulbs, electronics, and paper for your printer- the federal government buys millions of these items. And there are a number of requirements that we have to meet before we can buy, including a mandate to meet a 95% goal for sustainable purchasing. So how does the federal government identify and buy greener, more sustainable products? You may be familiar with some of EPA’s ecolabels such as Energy Star, WaterSense, and Design for the Environment – labels that identify products meeting strict federal standards for energy, water and safer chemicals. And there’s USDA’s BioPreferred label for bio-based products. One of the challenges for federal buyers has been sorting through the hundreds of other products with non-governmental or private labels that claim to be safe or environmentally friendly. Over the last few years, EPA and other federal agencies got together to figure out how best to meet this challenge. After considering some really good ideas and consulting outside experts, EPA just released draft Guidelines for public comment. The guidelines are a set of criteria for assessing private sector standards and ecolabels, considering factors such as how standards are developed and managed, as well as their environmental effectiveness. We are seeking comment from the public about how standards and ecolabels should be assessed and what role private entities, working with the government and other stakeholders, might have in that process. We look forward to hearing from you on the guidelines and how best to “green” federal government purchasing. The guidelines will help ensure that taxpayer dollars are being put to good, greener and more efficient use. We hope the government’s buying power will stimulate market demand for greener products and services. By using ecolabels and standards, we can protect the planet and save money across the public sector, private sector, and in our homes. By sourcing products that are safer and green now, we can protect and better serve future generations – so in many ways, greener goods and services are gifts that keep on giving. For more information on the draft Guidelines, please visit: http://www.epa.gov/epp/draftGuidelines. The views expressed here are intended to explain EPA policy. They do not change anyone's rights or obligations. You may share this post. However, please do not change the title or the content, or remove EPA’s identity as the author. If you do make substantive changes, please do not attribute the edited title or content to EPA or the author. EPA's official web site is www.epa.gov. Some links on this page may redirect users from the EPA website to specific content on a non-EPA, third-party site. In doing so, EPA is directing you only to the specific content referenced at the time of publication, not to any other content that may appear on the same webpage or elsewhere on the third-party site, or be added at a later date. EPA is providing this link for informational purposes only. EPA cannot attest to the accuracy of non-EPA information provided by any third-party sites or any other linked site. EPA does not endorse any non-government websites, companies, internet applications or any policies or information expressed therein.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9330638647079468, "language": "en", "url": "https://financewithchocolatesauce.com/2013/04/25/what-is-a-financial-plan-part-1/", "token_count": 394, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": -0.056884765625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:5c3409a8-0095-47cc-bed3-605c10c7fcab>" }	What is a Financial Plan- Part 1 April 25, 2013 § 1 Comment A financial plan covers your entire financial picture: your assets and liabilities, your risk management, your financial goals and whether or not they are realistic. Financial advisors offer plans and because they are so extensive, there is a cost to have one developed for you. Here are some of the parts that comprise a good financial plan. Too much info for one blog post, we’ll finish with more information in Part 2 next week. Net-worth– a net-worth statement shows the difference between your assets and liabilities. Listing your assets means compiling the estimated – but accurate- value of house, camp, cars, business. And then adding in your ‘liquid assets’ CD’s, investment accounts whether retirement or individual/joint accounts held , savings and jewelry, coins and other hard assets. From that total amount subtract your total liabilities: loans on real estate and other property, all consumer debt such as credit cards, student loans The NET result, hopefully positive, is your net-worth. Debt-to-Income ratio– This is a simple calculation. Add up all your monthly debt payments: mortgage, consumer debt, child support, everything you need to pay each month. THEN add up your monthly income. Divide your income by your debt. Here’s an example: You pay $500 a month and you earn $2000 per month your debt to income ratio is 25% Cashflow/Budget – Cash comes in and then it is allocated for various purposes: housing, debt repayment, savings, life. Tracking the saving and spending of money is a cashflow statement or a budget. You need one to create a financial plan. You need one if you ever hope to have a positive net-worth. Next week we will talk about the other aspects of a good plan. (CR 9154)
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9063594341278076, "language": "en", "url": "https://www.abnewswire.com/pressreleases/antimony-market-growth-is-encouraged-by-demand-for-safety-policies-and-increasing-use-for-plastic-additive-applications-till-2023-million-insights_437265.html", "token_count": 1021, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.263671875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:4f0ffc37-6370-4880-8b9c-9f6ba4c6968f>" }	Global antimony market is estimated to grow considerably in the years to come owing to the rapid development in metal and electronic industries. Antimony is a chemical element that occurs naturally. The semi-metallic chemical is present in chemical compounds like antimony (II) sulfide. Pure antimony is used to manufacture different types of semiconductor devices like infrared detectors and diodes. It is a bad conductor of heat and electricity and expands on cooling. Antimony is extremely traditional element that holds wide applications. Increase in demand for flame retardants with regards to consumer electronics, household products, toys, clothing, rise in demand for gadgets like tablets, calculators, smart watches, smartphones, etc. are some of the driving factors of antimony market. Composites are widely used as a substitute to all the traditional materials in multiple applications in construction, aerospace, automobile, etc. Additionally, growing demand for safety policies and increasing use for plastic additive application is encouraging the market growth. Hence, fiberglass composites are also fueling the market growth since they possess high strength property. However, overexposure of antimony is expected to affect human health adversely and the environment, which will ultimately hamper the market growth. Full Research Report On Global Antimony Market Analysis available at: https://www.millioninsights.com/industry-reports/antimony-market Investigation of new developed antimony reserves and recycling of antimony are expected to bring more opportunities in the market. Nevertheless, the rising geo-political tension is expected to challenge the market. The market is categorized on the basis of product type, application, end user and geography. On the basis of product type, market is divided into alloys, trioxides, and others. Trioxides segment is predicted to lead the market owing to its increasing use in household goods, toys, consumer electronics, flame retardants, etc. In terms of application, market is split into plastic additives, flame retardant, glass and ceramics, lead acid batteries and others. Flame retardant segment is anticipated to lead the market owing to its increasing demand for several applications. Based on end user, market is divided into automotive, electronics and electrical, chemical and others. Chemical industry followed by automotive industry ae expected to hold larger share of antimony market owing to its use in flame stabilizer, catalyst & synergist in chemical industry and for the making of lead acid batteries in automotive sector. Geographically, market is segmented as North America, South America, Europe, Asia Pacific and Middle East & Africa. Asia Pacific region is anticipated to dominate antimony market due to developing automotive and chemical industries and favorable government policies. The key players in antimony market comprise Mandalay Resources Corporation, Hunan Zhongnan Antimony & Tungsten Trading Co. Ltd, BASF, Guangdong Minmetals Imp. & Exp. Group and Yunnan Muli Antimony Industry Co. Ltd. Request for Free Sample Copy at: https://www.millioninsights.com/industry-reports/antimony-market/request-sample Report contents include • Analysis of the antimony market including revenues, future growth, market outlook • Historical data and forecast • Regional analysis including growth estimates • Analyzes the end user markets including growth estimates. • Profiles on antimony including products, sales/revenues, and market position • Market structure, market drivers and restraints. • North America • Asia Pacific • Middle East and Africa • South America • Consolidated Murchison • Beaver Brook • Mandalay Resources • Hsikwangshan Twinkling Star • Hunan Chenzhou Mining • China Tin Group • Shenyang Huachang Antimony • Hechi Wuji • Yunnan Clouds Transit • Yiyang Huachang • request free sample to get a complete list of companies Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals-and-materials About Million Insights Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive. For More Information: www.millioninsights.com Company Name: Million Insights Contact Person: Ryan Manuel Email: Send Email Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
{ "dump": "CC-MAIN-2021-17", "language_score": 0.959571361541748, "language": "en", "url": "https://www.bestfinance-blog.com/income-career/how-to-become-an-accountant/", "token_count": 748, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:ced829e2-95af-4e83-a8bb-54528bc287e1>" }	Becoming an accountant is not an easy journey for many people. One has to be in school for several years before working and getting certified as an accountant. However, it can be a stable and satisfying career that can earn you good money in the future.The below will give you tips for how to become an accountant. Enroll for a Degree Earning a degree in accounting is a crucial consideration, but not all accounting positions require degrees. Even if some employers may not require a bachelor’s degree when hiring an accountant, having one can open up great opportunities for you. This is important now that the field is becoming highly competitive. The typical accounting degrees include finance and auditing, statistics, personal and business tax, and management. You can choose any college that offers accounting degrees. Ensure the school is certified to teach accounting. There are many colleges out there, and your choices depend on various factors such as specialty, school fees, and flexibility. Choose Your Accounting Specialty The accounting field is broad, with many specialties. You can choose any depending on personal preferences and your future goals. This is often the next step after enrolling for a degree. The particular fields you can select are managerial accounting, tax accounting, and financial accounting. You can also pursue further studies to become a certified public accountant. This requires more hours of study and more money, meaning the higher the profession, the higher the salary. A higher profession makes you valuable to employers than other candidates. Remember, you should aim to pass your exams as per your school’s expectations as you study. If you do not pass your exams, you may need to redo them before proceeding to the next step. Find an Entry-Level Job Once you complete your degree, you can apply for an internship. This will help you earn accounting skills and experience. It is what most high-end employers look for when hiring accountants. Without this, you may never land good jobs in the future. As you start working, you begin to grow your skill-set and become more marketable. With time, you get adequate exposure in the field and get better job offers. At this point, strive to build your network by connecting with other accountants. You can learn new things from those who’ve been in the field for some time, and you can also get connections to job opportunities. Remember, the internship can either be paid or unpaid, depending on the company. However, the lack of payment should not discourage you since this is a crucial step that can open up more extraordinary opportunities in the future. Accounting certification is a vital element in your career path. This is an additional qualification that can open up great opportunities for you and increase your credibility. The certifications vary based on what you studied. You can obtain more than one certification in some specialties. The most widely known certifications are Enrolled Agent and Certified Management Accountant. Pursue Your Education If you want to make the most out of your accounting career, it’d be best to pursue your education and acquire more skills with a higher degree. Most accountants often stop pursuing their education after obtaining the first degree. But you can further your studies to open up your chances of getting better job opportunities. You will earn a master’s degree at the end of your course and start applying for big jobs in larger organizations. The Bottom Line The journey to accounting may not be an easy one, but it is worth every effort and financial investment made. The beauty of accounting is that you can start your firm once you gain adequate skills and experience from your employment and other connections.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9532521963119507, "language": "en", "url": "https://www.seequent.com/role-models/", "token_count": 1796, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1474609375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:c8ba904e-8c2c-4813-9423-013836d4e022>" }	Adapted from the medical industry, the increasing speed and flexibility of implicit modelling software have made it a powerful decision-making tool for geologists. Integra Gold’s Triangle Zone deposit is structurally complex, a common trait to the many mines and gold deposits in Quebec’s Abitibi gold district. When the company continued a drilling program on the site in early 2015 it found one hidden structural trend, which changed the resource estimate for the better. The site’s Indicated Resources increased by 21 per cent to 627,810 ounces of gold, with an average grade of 7.37 grams per tonne, thanks to the discovery of “steeply dipping ‘C’ structures.” The company detected that structural trend with the help of Leapfrog, 3D implicit modelling software made by ARANZ Geo. The software, and others based on the same principles can create accurate, detailed 3D models that highlight the particular challenges and potential of an orebody in a fraction of the time and for a fraction of the cost of models done using explicit modelling, the traditional approach. Traditional explicit modelling methods require geologists to input the data and connect the points by hand. Frank Bilki, technical product manager at software company Micromine, compares this to making a computer model of a loaf of bread by building a 2D model of each slice and then combining all the slices. This kind of technique could take weeks or months, depending on the size and complexity of the deposit, but it had been the standard for modelling – until implicit modelling became available. 3D in real-time The algorithms Leapfrog and Micromine use for implicit modelling are based on radial basis functions (RBFs). These functions help interpolate the data collected during drilling programs. They do this by identifying trends in the data set, based on parameters set by the geologist, and by creating surfaces that honour those trends. Implicit modelling provides the flexibility to model many types of deposits, including complex vein systems, stratiform and porphyry deposits. As new information and data become available the model is dynamically adjusted, all in real time. Geologists can tweak the model to examine multiple hypotheses; for example, making it more or less conservative to aid decision making. “In an exploration program when you’re spending as much money as you’re spending – and we’ve got between five and 10 drill rigs running – you need to be able to make changes on the fly to your drill patterns,” said George Salamis, a geologist and chairman of Integra Gold. “The quicker you have the data … the more efficient you’re going to be drilling and the less money you’re going to spend. It’s pretty simple.” Better yet, implicit modelling software can take models and present them with 3D contours, allowing geologists to quickly spot trends or structures. “You really need to see things in 3D to fully understand them,” said Salamis. “It’s especially key in these structurally controlled deposits that you see in Quebec and Ontario.” Before miners got their hands on the software, ARANZ first applied implicit modelling to medicine and movies. The company’s techniques led to a hand-held portable laser scanner, which has been used to make prosthetics as well as some of the computer animations in the Lord of the Rings trilogy and the Star Wars prequels. Leapfrog’s program has matured over the past decade as a result of working closely with the industry, according to its director of product and innovation Tim Schurr. “We pioneered this method of modelling in the mining industry in 2003, and it definitely caught people’s attention. After more than a decade of refinement the Leapfrog engine you see today, and the models you see today, are light years ahead,” he said. Computers have been evolving as well. “The implicit modelling algorithm is actually quite old, but computers were simply unable to create an implicit model until they became powerful enough to handle the calculation,” said Micromine’s Bilki. “Only in the last decade or so have we seen computers fast enough to do so.” Though ARANZ has established itself as the leading implicit modeller in the geology market over the past decade, the company is now facing new competition; Micromine first included implicit modelling in their 2013 software release. “We actually love the way that others [like Micromine] are embracing implicit modelling. It’s really highlighting how game changing, effective and important it is,” Schurr said. Integra has used implicit modelling software on-site for several years, Salamis said, ever since the company hired new employees who had Leapfrog experience from their previous work with major mining companies “Before, when we weren’t using Leapfrog as much as we are now, getting the data into a quick 3D visualization module took time. Now, with our more intensive use of Leapfrog, the guys and gals who know how to use it pretty well can visualize things on the fly,” he said. However, implicit modelling has faced challenges in the past and some people remain unconvinced. Users need to be familiar with the software in order to get good results, said Peter Gleeson, a consultant with SRK. “It really does take about a year to become proficient,” he noted. “And you’ve got to understand your geology, first and foremost. It’s not a black box. You’ve got to have a good geologist behind the computer.” Bilki echoed that users must understand what went into an implicit model if the results are to be trusted. Some regulatory steps have also been taken to recognize implicit modelling’s potential. In 2014, the technique was included in the AusIMM Monograph 30, which gives a guide to best practices for mineral resource and ore reserve estimation. Although Schurr noted that some companies have begun to use implicit modelling techniques for reporting standards-compliant resource estimations and classifications, the technique has not yet entered the mainstream. Gleeson is optimistic. “NI 43-101 does not stipulate the method you use. So long as you can justify what you’ve done, and show that it’s geologically realistic, there is no reason not to use it,” he said. Geologists may soon be able to bring their implicit models out of the office and into the field. In September, ARANZ Geo announced a beta version of an augmented reality tool was in the field with testers. The tool should allow geologists to superimpose their models on the actual topography of the site. A release date, at this point, has not been announced. Feedback will be key, the company stated in the release, and Schurr noted that this is the way the software has always developed. “This implicit modelling engine that we’ve built has been developed carefully, through a lot of feedback from our customers.” Salamis said that he would love to see conditional simulations, providing what-if scenarios that could be used to determine if an ore body is economically viable. “If I was to drill 10 holes, 100 metres away from the ore body and hit this grade or this width, what does that do to the economics of this deposit? Right now, we don’t have the capability to do that. We basically have to go back from scratch and redo resource estimates to get that answer,” he explained. But that does not mean that he is not happy with the software’s current capabilities. In fact, the company has a lot of faith in the software – so much so that they have selected Leapfrog as the 3D modelling partner for their Gold Rush Challenge. Entrants are given a Leapfrog licence for the duration of the competition to help them find new, potentially profitable trends at their Sigma-Lamaque project. This competition allows the Integra geologists to focus more on the Triangle Zone. As implicit modelling itself becomes more established, companies like Leapfrog and Micromine continue to develop new, cutting-edge applications. Both Leapfrog and Micromine have new versions of their software on the market or nearing release; Micromine’s should be launched in the second quarter of 2016 and a new version of Leapfrog Geo was made available in November with new tools for data analysis and geologists working on stratified or layered geologies.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9396065473556519, "language": "en", "url": "http://www.openaccess.hacettepe.edu.tr:8080/xmlui/handle/11655/9020", "token_count": 322, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0927734375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:42253545-317a-4789-94e9-c2de333f1c14>" }	Türkiye'de İç Borçlanma: Borç Yükü ile Vade Yapısı İlişkisinin Ekonometrik Bir Analizi Aykut, Muhammet Faruk xmlui.mirage2.itemSummaryView.MetaDataShow full item record With the increasing operation areas of governments and transition from classical- to social-state, public expenditures have increased over time. When increasing public expenditures could not be financed by ordinary resources, other sources such as public debt was used. Especially domestic debt became a frequently used instrument by the governments. Today, domestic public debt can become one of the most important economic problems of countries unless it is managed with an efficient debt management system. In Turkey, domestic borrowing has been used since the Ottoman Empire Era and, currently, become an important part of country’s economy, where debt sustainability has often been on the agenda of policy makers. The domestic public debt has been %16 of GDP by the end of 2018. In our study, the historical development and the structure of public debt in Turkey are analyzed, beside the analysis on the relationship between debt burden and debt maturity, which are the essential elements of domestic debt management. Approaches regarding maturity structure in optimal debt management are evaluated and it is seen that policies implemented in Turkey are compatible with the literature, especially after 2002. According to the econometric estimations in this study, there is a statistically significant inverse relationship between debt burden and debt maturity in Turkey in the 2004-2018 period.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9581696391105652, "language": "en", "url": "https://blog.se.com/smart-cities/2014/02/04/microsoft-guest-post-seattle-proves-power-partnerships-building-smart-cities/", "token_count": 841, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.004241943359375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:de44b1ae-2b27-4f38-bf20-a1da50b9e19b>" }	I serve as a senior director with Microsoft’s Public Sector business unit, which has been working with Schneider Electric for some time to deliver on the concept of smart cities. In this guest post, I wanted to give my view on the power of partnerships in making smart cities a reality. One big element of any smart city effort has to do with lowering carbon emissions. About a dozen cities in North America – including Boston, Philadelphia, New York, Seattle, San Francisco and Toronto – are taking the effort quite seriously, by putting in place policies and regulations that require owners of large buildings to report on their carbon footprint. That opens the door for an ecosystem of businesses and technology partners to work with the city to drive energy efficiency at city-scale. This is exciting for anyone interested in big data analytics and potential benefits for energy and environment. At least, that’s the idea. In reality, it’s a difficult task because so many stakeholders are involved. We’ve got federal, state and local government agencies, commercial businesses, academic researchers that deal with infrastructure issues including transportation systems and city infrastructure. What’s more, the entity responsible for water, utilities and other infrastructure varies from city to city. It can be difficult to orchestrate all the players such that we can get the data we need to make a difference. The good news is both global and community focused organizations are stepping in to help bring all the players together. On a global scale organizations like the Carbon Disclosure Project have been aggregating and reporting city data for several years now. More than 100 cities are reporting data to provide a global point of view on carbon footprint and water resources. The EUs 27 members have committed to implementing commercial, residential and public building energy regulations, an effort that has been underway for 10 years and shows that it can be a difficult journey to deliver results. On a local level in the United States, some organizations are gaining momentum in working with the business community and city government to address carbon emissions. A prime example is Seattle 2030 District. The 2030 District is a public-private collaborative whose members include property owners and managers, professional stakeholders including engineering firms and consultants, and community stakeholders such as the City of Seattle and various conservation-minded groups. By the year 2030, the goal is to reduce by 50% CO2 emissions from buildings, consumption of fossil fuels for energy, and water consumption. For new construction, the goal is for the buildings to be carbon-neutral by the same year. As the group’s web site says: While individual buildings will have specific opportunities for energy reductions, a district approach will provide the opportunity for district-wide heat recovery, distributed generation, and other district energy efficiencies that can reduce the demand for resources. The 2030 District will provide members a roadmap to own, manage, and develop high performance buildings by leveraging existing market resources and by creating new tools and partnerships to overcome current market barriers. In its 2013 Annual Report, the group says a total of 133 buildings, with a collective capacity of 38 million sq. ft., have joined in the challenge. That represents 37% of the total square footage in the district. Another key element to driving energy efficiency on a citywide scale is having people with the expertise dedicated to the task who are part of the business community. Microsoft has the IT expertise but not the deep subject expertise in energy management like a Schneider Electric, which is another reason the partnership is so important to us. There are real signs of progress. Since launching in 2011, buildings that are part of the Seattle 2030 District initiative have cut energy use by 21%, CO2 emissions related to transportation by 22% and water consumption by 7%. It’s good to see 2030 initiatives have started in other cities, including Cleveland, Pittsburgh and Los Angeles, with more than 20 additional cities showing interest in the concept. My Schneider Electric colleague Alistair Pim has written previously about how it’ll take partnerships to make the concept of smart cities a reality. I couldn’t agree more and applaud the Seattle 2030 District for pulling diverse stakeholders together and demonstrating the power of partnerships.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9534499049186707, "language": "en", "url": "https://centralagsupply.com/congress-introduces-bill-to-address-feed-shortages-after-disasters/", "token_count": 1567, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.07666015625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:6663c317-7596-42e2-989f-8f2b99a7f1cd>" }	Congress Introduces Bill to Address Feed Shortages After Disasters A bipartisan bill has been introduced in Congress that aims to help farmers and ranchers in handling feed and forage shortages following recent natural disasters. The Feed Emergency Enhancement During Disasters Act (FEEDD Act) was put forward by U.S. Representatives Dusty Johnson (R-SD) and Angie Craig (D-MN) on June 10. The legislation provides greater flexibility to farmers and ranchers during this planting season when high levels of prevent plant are happening because of extreme moisture or drought. The FEEDD Act would allow producers who utilize prevent plant to at least plant and graze, hay or chop a cover crop before November 1st in the event of a feed shortage due to excessive moisture, flood or drought. Through the waiver, these producers would not have to take a further discount under the Federal Crop Insurance Program. “Producers are already facing five years of declining net farm incomes and this wet spring has thrown another challenge their way,” says Rep. Johnson. “South Dakota farmers are resilient, but they’ve made it clear – a common-sense solution is needed to alleviate the feed shortage across the country. The FEEDD Act will allow Secretary Perdue to move up the November 1st harvest date on producers prevent plant acres. This simple fix will help ease our feed shortage, enhance the farm safety net, and improve soil health by promoting cover crops. Government can’t control the weather, but we must do what we can to provide certainty to our farmers and ranchers. I will continue to work with the Department on an Administrative fix, but Congress should do what we can to fix this long-term.” “In the midst of a delayed planting season, falling commodity prices, and limited market access, Congress has a responsibility to provide farmers and ranchers the flexibility they need to do their jobs successfully. This bill takes a critical step toward giving the Secretary explicit authority to waive the November 1st harvest date for cover crops on prevent plant ground,” says Rep. Craig. “While my colleagues and I will continue to work with the USDA to find Administrative ways to address this issue, Congress must take action on this long-standing concern with a long-term solution and pursue all possible avenues for relief. Additionally, by incentivizing the planting of cover crops, we’re building resiliency and feed stability for farmers throughout my district. I’m proud to lead this common-sense, broadly supported, and bipartisan effort.” The FEEDD Act, also known as H.R.3183, is co-sponsored by 11 other Representatives, including House Agriculture Committee Chairman Collin Peterson (D-MN). The legislation has the backing of a number of associations and businesses. Here is what some of those groups are saying: “As farmers and ranchers across the country struggle through a difficult planting season, I am glad to see this common-sense approach to helping livestock producers and farmers alike through allowing the planting of crops for forage after the prevent plant date. This year so far has been unprecedented for American farmers, and this pragmatic approach allows farmers flexibility in the management of their land, while allowing for livestock forage to be grown,” says Zippy Duvall, President, American Farm Bureau Federation. “Unusually wet weather and widespread flooding have made this spring incredibly challenging for family farmers in ranchers. In many areas, it has been too wet to put seeds in the ground, which has forced many farmers to rely on prevented planting insurance coverage to make ends meet. While prevented planting offers a critical risk management tool, the November 1st harvest date prevents many farmers from utilizing a “second crop” as forage. We applaud Representative Angie Craig and Representative Dusty Johnson for introducing the FEEDD Act, which will provide family farmers and ranchers with important flexibility during yet another tough year for American agriculture,” says Roger Johnson, president of the National Farmers Union. “With producers in South Dakota and across the country struggling to deal with the aftermath of natural disasters, the introduction of the FEEDD Act comes at a critical time. Early access to cover crops will help producers manage the worst impacts from this year’s planting season. NBCA appreciates the efforts of U.S. Representative Johnson and the other co-sponsors to provide agricultural producers with much-needed relief,” says Todd Wilkinson, National Cattlemen’s Beef Association policy division vice chairman from De Smet, South Dakota. “Mother Nature dealt producers a tough hand this year, but Congress is taking steps to help. The legislation introduced by U.S. Representative Craig and the other co-sponsors will ensure that producers can use their cover crops in a timely fashion. This support is critical for hardworking farmers and ranchers trying to recover,” says Don Schiefelbein, National Cattlemen’s Beef Association policy division chairman from Kimball, Minnesota. “We commend Reps. Johnson and Craig for introducing the bipartisan Feed Emergency Enhancement During Disasters Act. This legislation is a helpful response to the feed shortage that dairy farmers have faced this spring due to intense floods. We urge Congress to pass this legislation without delay so that farmers and ranchers have the flexibility they need to navigate current conditions,” says Jim Mulhern, president and CEO of National Milk Producers Federation. “Planting cover crops in a normal year is just the smart thing to do, as it not only helps protect soil from water and wind erosion, but can capture and produce needed nutrients for the following year’s crops. Due to this unusually rainy spring, we are facing the potential for a large number of fields to not be planted, and therefore, it is even more important that producers protect their soil with cover crops over the next year. By providing flexibility for when a producer can utilize cover crop plantings, the Feed Emergency Enhancement During Disasters Act will encourage the adoption of this important conservation practice while adding forage options as an additional economic incentive,” says Tim Palmer, president of National Association of Conservation Districts from Truro, Iowa. “After the spring season we’ve just experienced, this legislation is welcome to allow farmers the chance to make the most of what they can of this growing season. Feed inventories were greatly diminished with the excessive flooding earlier this spring. Whatever inventories dairy and beef farmers had built up over the past few years became pretty valuable after the weather we had late last year. The slow and incredibly wet start to this planting and growing season didn’t help matters either,” says John Rettler, dairy farmer from Neosho, Wisconsin, and president of FarmFirst Dairy Cooperative. “I want to thank Representatives Johnson and Craig for their leadership on this issue. Our cooperative represents dairy farms throughout the Upper Midwest, and many of them are struggling to get a crop in and are concerned about what the feed outlook is for the coming year. The FEEDD Act will give dairy farmers and other livestock producers much needed flexibility as we work through the challenges caused by an unusually wet spring,” says Mitch Davis, treasurer of Edge Dairy Farmer Cooperative and general manager of Davis Family Dairies in south-central Minnesota. Wed, 06/12/2019 – 08:45 The Feed Emergency Enhancement During Disasters Act (FEEDD Act) would allow producers who are utilizing prevent plant to at least graze, hay or chop a cover crop to feed livestock. Source: Dairy Herd
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9233254790306091, "language": "en", "url": "https://jtp.cnki.net/bilingual/Topics/detail?topic=Digitalization&filename=DHYJ201502020%3BDHYJ201601016%3BDHYJ201602014%3BSHXJ201606006%3BJJGU201701014%3BOZZZ201706004%3BLYXK201804011%3BDOZY201804006%3BCMJJ201809001%3BGJMW201810002%3BDHYJ201803016%3BRKYZ201804007%3BTYKX201811001%3BJJXU201804012%3BJJXU201804009%3BGGYY201905006%3BJIRO201902007%3BZNJJ201901008%3BXDRJ201904003%3BPOLI201903003%3BCMJJ201903007%3BJIRO201903006%3BJJYJ201908006%3BZSHK201610008%3BGJMW201909001%3BOZZZ201904007%3BSLJY201912007%3BCJYJ202001003%3BDFFX201906005%3BGLSJ201912011%3BGGYY201911008%3BJIRO202003011%3B&id=343", "token_count": 8886, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.060546875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:1d9a4ae2-2b7c-4b1f-8c4a-ea38adb004c3>" }	Journal of Finance and Economics,2020,Vol 46,No. 01 【Abstract】 This study examines the current relationship between digital finance and traditional finance by using micro survey data. Because of various reasons, there are many blank areas and groups in traditional financial services, especially in remote rural areas. Therefore, the emergent digital finance is expected to fill the blank, and serve the areas and groups that traditional finance has yet served. Meanwhile, expanding business in rural areas has indeed become an important strategy for some Internet finance companies. However, we must clearly realize that the application of new digital financial technology, which is a combination of Internet technology and financial business, needs basic financial knowledge and Internet skills. Without basic financial knowledge and Internet skills, people may not be able to use digital financial services skillfully and effectively. Therefore, although Internet finance could overcome geographical obstacles and cut the cost in remote rural areas with low population density and economic activity density, from the perspective of the demand side, it is not so easy to enjoy these modern digital financial services. Therefore, examining the relationship between traditional financial basis and farmers’ use of digital finance through scientific empirical analysis will contribute to deepen our understanding of the digital financial pattern. In this study, we use the first hand micro survey data from the Thousand-Village Survey of Shanghai University of Finance and Economics to investigate the influence of traditional financial foundation and family members’ education level on the use of digital finance. Using the special survey data of rural inclusive finance will help us inspect the value of traditional financial basis in influencing rural households to use new digital financial services. We find that the higher the frequency of using traditional finance is, the greater the possibility of using digital financial services will be; and the higher the education level of farmers’ household is, the higher the probability of using digital finance will be. In order to overcome the endogenous problems, we take “the time required for family to reach the bank outlet” and “how many ATMs in the village” as instrumental variables for the family to use traditional financial services, and carry out two-stage least square regression. In addition, in order to more intuitively examine the relationship among traditional finance, family education level and digital finance, we also make a brief analysis of the reasons why farmers do not use digital finance and the willingness of households who do not use Internet finance at present, which also confirm that the lack of financial basis and education is the strongest marginal obstacle affecting the spread of Internet finance. Digital finance also relies on the mass basis laid down by traditional finance. This study is a supplement to the existing literature because when discussing the relationship between Internet finance and traditional finance, the existing literature can only start from the macro and policy perspective, lacking the micro basis. From the perspective of policy reference value, it is also of great practical significance for us to understand the practical value of the new digital finance and formulate the rural financial policy of digital finance going into the countryside. The development of digital currency: typical characteristics, evolution, and guidelines for regulation Financial Economics Research,2020,Vol 35,No. 03 【Abstract】 In recent years, with the application of numerous financial technologies, digital currency has maintained rapid development. Central banks worldwide have been amazed by the progress, and many have started pilot and testing programs for digital currency. It seems inevitable that paper notes will eventually be replaced with digital currency. This study analyzes the effects of digital currency and its trends from the perspectives of the essences of digital currency, the driving forces behind its existence, and its evolutionary path, functioning, channels of influence, and regulation regime. Conclusions in this article suggest that central bank digital currencies (CBDC) are comparable to real currency in terms of monetary functions. The issuance of CBDC would have profound implications for economic growth, financial systems, and monetary policies. Therefore, to actively and prudently promote digital currency experiments, China must build a regulatory framework for digital currency, drive innovation in relevant technologies, and conduct forward-looking research in related theories. Development of regional digital finance and rural households’ participation in digital finance: channels, mechanisms, and heterogeneity Financial Economics Research,2019,Vol 34,No. 02 【Abstract】 In China, the rapid development of digital finance has raised the possibility of financial inclusion for the geographically remote and economically backward rural areas. However, the issues of specific channel, mechanism, and heterogeneity related to peasant households’ participation in digital financial services resulted from the development of regional digital finance still need to be further investigated. This study uses household survey data and the Digital Inclusive Financial Index compiled by Institute of Digital Finance (IDF) of Peking University to investigate the impact of development of regional digital finance on peasant households’ participation in digital finance. The results of empirical analysis show that such development does affect peasant households’ decision-making on their participation in digital finance. The breadth of the coverage of regional digital finance has a significant and positive effect on peasant households’ participation in digital finance. However, the depth of the use of digital finance and the extent of digital support services do not have significant effects on peasants’ decision-making on participating in digital finance. Peasant households with high levels of education and a high annual income are more significantly affected by the development of regional digital finance. Thus, it is necessary to promote and strengthen the construction of infrastructure of rural digital finance. Chinese Rural Economy,2019,No. 01 【Abstract】 This article reveals that digital finance can effectively stimulate farmers’ entrepreneurial enthusiasm and improve entrepreneurial performance. The study divides the impact path into credit constraint mechanism, information constraint mechanism and social trust mechanism. It finds that digital finance not only eases farmers’ credit constraints and improves the information dissemination and acquisition like traditional finance, but also enhances the social trust of farmers through unique social trust channel, ultimately promoting farmers to set up enterprises and enhance their performance. It finds that the impact of digital finance is mainly on non-agricultural entrepreneurship and survival-based entrepreneurship, and the impact on agriculture-related entrepreneurship and development-oriented entrepreneurship is not obvious. It also finds that internet-based digital finance instead of bank-based digital finance has effect on entrepreneurship. Finally, comparing with other farmers, digital finance has a greater impact on those with lower human capital, physical capital and social capital groups, that is, the impact of digital finance is inclusive. Contemporary Economy of Japan,2019,Vol 38,No. 04 【Abstract】 The rapid development of the digital economy represented by big data, artificial intelligence, block chain, quantum computing and other network information technologies drives the model of society from the information economy society to the digital economy society, thus making the world economic situation change dramatically. In order to develop new advantages in the new round of international competition, Japanese government formulated and released a series of digital economic development initiatives as a national strategy. It proposes to concentrate on all the policy resources that can be invested to develop digital economy which is called the connected industries. It also clarifies five main develop industry sectors, their goals and promotion agencies. The Japanese government quickly passed legislation to ensure that special policy measures are implemented to promote the development of the connected industries, including special taxation systems and investment promotion policies, as well as systems that promote the opening and sharing of government data. In addition, it is planned to start talent cultivation from primary education and to implement effective programming education in all primary schools. The development of the connected industries is seen as a key way for Japanese companies to implement digital transformation, achieve productivity revolution, and thereby enhance Japan’s international competitiveness, and a new symbol after Made in Japan and retrofit innovation. Financial Economics Research,2019,Vol 34,No. 03 【Abstract】 Based on the related data of Chinese China’s 29 provincial-level administrative regions from 2011 to 2015, we used for reference the research findings of the digital inclusive finance index obtained by the research group of the Institute of Digital Finance, Peking University and used a spatial econometric model to empirically investigate the spatial spillover effect of digital inclusive finance on farmers’ off-farm income. The findings are summarized as follows. (1) Digital inclusive finance had a positive spillover effect on farmers’ off-farm income in China’s different provincial-level administrative regions. (2) Digital inclusive finance not only significantly promoted the increase in off-farm income of local farmers, but also had a positive spillover effect on the off-farm income of the farmers in adjacent provincial-level administrative regions. Therefore, it is recommended to further extend the coverage scope of digital inclusive finance, strengthen the innovation in financial products and digital inclusive finance, improve the infrastructure of digital inclusive finance, and promote regional development of digital inclusive finance, thus increasing the off-farm income of farmers. Research on the modernization of the digital governance system and capacity: principle, framework and component Cass Journal of Political Science,2019,No. 03 【Abstract】 The rapid progress of information and computing technology and the iterative development of new industries have pushed the evolution of society. As entering the era of digital society, the digital governance system and capacity have become an essential part and natural extension of the national governance system and capacity. While traditional theories pay more attention to the technical impacts of the technological revolution on the production relationship, the modernization of the digital governance system and capacity emphasizes the transformation of the production relationship itself. We should stick to “equal emphasis on development and security” and “overall consideration of both domestic and international situations” as two principles. Based on that, the digital governance system should be built at three levels, namely the technical, behavioral and organizational level, and the digital governance capacity should be composed of three elements respectively. Economic Research Journal,2019,Vol 54,No. 08 【Abstract】 The Internet revolution is driving a rapid development of the digital economy and of digital finance in China. Over the past 10 years, traditional financial institutions have improved the channels of access for households and significantly reduced their budget constraints. With the rapid expansion of digital finance, China has seen dramatic improvements in the accessibility and affordability of financial services, particularly for people who were formerly excluded from accessing them. Digital finance has offered low-cost services to hundreds of millions of under-served people, and has thus benefitted financial inclusion and inclusive growth in China. This paper presents an initial attempt to investigate whether access to digital finance generated by the Internet revolution helps to promote inclusive growth in China. We match an index of digital financial inclusion (which measures digital finance development in China) with data from a representative household survey conducted by the China Family Panel Studies (CFPS). The index of digital financial inclusion is the product of a joint project by the Institute of Digital Finance (at Peking University) and Ant Financial, which is one of the largest global fintech enterprises. The index is constructed with user data from Ant Financial, and it shows that China’s financial inclusion has been progressing rapidly with the help of digital finance. This financial inclusion has enabled regions that were lagging behind in their overall levels of economic development to outperform the economically advanced regions. By matching the index of digital financial inclusion with the CFPS data, we find that digital finance has helped to increase rural household income. Thus, digital finance has helped to promote inclusive growth in China. How does the development of digital finance contribute to China’s financial inclusiveness? The main mechanism lies in the contribution of digital finance to entrepreneurship. Previous studies have shown that entrepreneurship is essential for job creation and economic growth. The factors that affect entrepreneurial activity can be generally categorized into micro factors and macro factors. The micro factors are the individual and family characteristics of entrepreneurs, such as their income, gender, age, human capital, social capital, and risk preference. The macro factors are the broader political and economic statuses, or the cultural and social environments in which entrepreneurs are situated. Among these factors affecting entrepreneurship, the availability of funding is the most important element. As entrepreneurs need funds to start their firms, financial constraints tend to significantly reduce people’s ability to become entrepreneurs. Previous studies have shown that financial constraints have a negative impact on entrepreneurship. Therefore, it is widely accepted that financial development can promote entrepreneurial activity by mitigating the liquidity-related constraints on potential entrepreneurs. In this paper, we argue that digital finance makes it easier for households to borrow money, and it significantly reduces the financing barriers faced by innovative residents. In modern China, residents can use mobile phones to pay for most transactions, including shopping in local markets or online platforms (e.g., Alibaba or Taobao), dining in restaurants, or paying utilities bills, even if they do not have credit cards. More importantly, most mobile phone transactions can help people to gain a digital-defined credit record, which facilitates their ability to borrow through fintech channels. In this way, fintech increases the likelihood that households can engage in entrepreneurship activity, especially in the case of formally lagging groups. We also examine how digital finance interacts with both physical capital and social capital in promoting entrepreneurship. We conclude that households with less physical or social capital have benefited more from digital finance. Based on our findings, we suggest three policy options that can further promote inclusive growth with the help of digital finance. First, fintech development should be further promoted, especially in lagging areas such as rural China or West China. Second, special attention should be paid to the development of financial depth and digital service provision, as these features can significantly alleviate financial constraints and promote entrepreneurship. Finally, public spending on education should be maintained, given that fintech is more beneficial for residents with higher levels of education. Libra: the model and governance of digital currency as an instrument for cross-border payment, clearing and settlement Oriental Law,2019,No. 06 【Abstract】 Libra as the digital currency of Facebook, the US social networking company, is actually considered a new cross-border payment instrument. Through the network of validator nodes in different countries and establishment of corresponding virtual accounts, Libra can construct a self-clearing cross-border payment system to evade financial regulation in the corresponding countries. Libra, with its stability mechanism of currency value, has certain advantages compared with the relatively unstable legal tender in some countries, and may result in severe threat to a country’s financial stability and monetary sovereignty. In particular, Libra has also created a competitive impact on the industrial status of non-bank payments in China. In order to cope with the risk of digital currency as cross-border payment and clearing instruments, we should change China’s cross-border payment and governance system of digital currency, adjust the old restrictive model of regulation, relax the channels for digital currency development, build a sandbox-style supervisory mechanism, and promote the development of Regtech. Chinese Journal of European Studies,2019,Vol 37,No. 04 【Abstract】 This paper focuses on the yellow vests movement in France and analyzes its development and causes. Social protests and trade union movements had once been an important force in the golden age in driving the establishment of the French welfare state. However, since the 1970s, with the slowdown of economic growth, fiscal austerity, and transformation in social structure, welfare resources have been tightened and social conflicts on distribution become increasingly intensified. As a consequence, the French welfare state is caught in the perpetual imbalance between welfare and finance. At the same time, along with the rise of the anti-establishment force, the welfare confrontation between the elites and the public in the sense of social semantics and social structure has led to repetitive competition between the two groups in the two welfare battlefields of tax increase or tax reduction. All of this constitutes an important social-historical background of the yellow vests movement. Under the pressure of various social centrifugal forces, the reform of the French welfare state has been directionless and forced to delay. It is highly likely that major relevant social reforms and welfare system reforms will be blocked again under the solidified structure of social conflicts. The Journal of Quantitative & Technical Economics,2019,Vol 36,No. 12 【Abstract】 Research objectives: this paper discussed the measurement method of the return on capital, and examined the basic path of improving the return on capital. Research methods: this paper established a measuring framework for the return on capital based on the theory of capital services, and constructed a method for measuring the return on digital capital based on the rental price of capital approach and capital services theory developed by Jorgenson. Research findings: China’s return on capital ranged from 8.06% to 23.67%, and showed a downward trend from 16.02% in 1992 to 8.54% in 2017. China’s capital structure has been further optimized in digital economy. The proportion of capital services of digital capital has increased from 2.38% in 1992 to 6.11% in 2017, which plays a positive role in improving China’s return on capital. The return on capital of the primary and secondary industries is on the downward trend, while that of the tertiary industry is on the upward trend. The return on capital of transportation, warehousing, communications and real estate rental services, which are ICT-producing industries and ICT-using industries, has increased from 12.17% in 1997 to 26.94% in 2007, and dropped slightly to 11.94% in 2017. Research innovations: this paper introduces the theory of capital services into the measurement approach of the return on capital, and quantifies the role of digital capital such as ICT in the return on capital of the whole society and industry. Research value: this paper provides policy reference to further optimize the structure of capital investment and improve the return on capital. Space expansion and competition mechanism innovation of chain retailers in the age of digital economy China Industrial Economics,2019,No. 05 【Abstract】 The spatial expansion and competition of trading activities are important topics for geography, economics and other disciplines. The rational distribution of retail enterprise plays an important role in the development of urban and rural economy, the allocation of circulation resources, and the satisfaction of consumer demand. For a long time, as a modern circulation mode, franchise management has received sustained attention from both of the industry and the government. However, in recent years, such traditional spatial expansion mode based on store expansion has fallen into a “growth dilemma.” It is subject to the dual constraints of internal mechanism and external environment, and hard to provide continuous driving force for enterprise growth. The reason is that although this kind of extensive growth reduces the spatial resistance in a simple and direct way, it cannot avoid the “Cannibalization Effect.” In the era of digital economy, reconciling this contradiction becomes feasible at the technical level, profoundly affecting the spatial distribution characteristics and evolutionary dynamic mechanism of commercial activities. Nowadays, the Internet-based “e-commerce” has been able to avoid the constraints of physical space by directly blurring the store, and some more cutting-edge retail models which combine online and offline are showing a more prominent advantage in reducing consumer space resistance. Therefore, this paper combines the methods of model deduction and case study to explore the innovative mechanism of space expansion and competition, in order to provide useful suggestions for the transformation of traditional enterprises and the high-quality development of circulation industry. Finance & Trade Economics,2019,Vol 40,No. 03 【Abstract】 This article is aimed to explore the essence of retail and its new mechanism in the context of the internet and the digital economy. According to Marxian circulation theory, we pointed out that from the perspective of either social reproduction or commercial capital, in the essence, retail is exerting the function of intermediating supply and demand as a key exchange factor. It is necessary to attach importance to the function of retail in demand identification and production guidance. Retail commercial capital is supposed to ensure greater intermediating efficiency through specialized retail activities. The internet and digital technology are still restricted by the basic law of social reproduction and the limitation of the essence of retail, though the specific intermediating mechanism has changed. With the exploitation of long-tail demand and the transformation of the logic between production and distribution, a flexible production system driven by digitalization is a new mechanism of retail in deeply intermediating supply and demand and an embodiment of a new economic growth momentum led by digital retail. The case study method was further applied to support the above mechanisms. Management World,2019,Vol 35,No. 12 【Abstract】 Based on the change of information carriers in the era of mobile Internet and the information asymmetry of the BOP group, from the perspective of digital technology and business model innovation and the interaction between the two, this paper mainly discussed the characteristics and mechanisms of how internet enterprises enhance inclusive market building by improving the BOP group’s status in information production and consumption. Through the case studies of two leading enterprises in China’s short video industry and adopting the grounded theory, this paper summarized the construct dimensions and main characteristics of digital technology and business model innovation related to BOP and established a theoretical framework for the collaborative enhancement of inclusive market building by digital technology and BOP business model innovation. This paper found that platform enterprises support the BOP group to produce and consume content mainly by adopting digital content technology and digital connection technology. They then empower the BOP group, enabling them to have equal access to create and share value by “intelligent + artificial” content recommendation, BOP social network expansion, and shared value acquisition and other innovative strategies and methods. In this process, BOP local resource and information are widely disseminated and their market value is activated, the BOP group’s market awareness and abilities are improved, and the inclusive market building is promoted. This paper deepens the research on inclusive innovation in digital economy, and also makes theoretical contributions to BOP entrepreneurship, business model innovation, and information poverty governance. Analysis on the deepening and expansion of the “American Template” of digital trade rules based on the USMCA Journal of International Trade,2019,No. 09 【Abstract】 The digital trade negotiations under the framework of the United States-Mexico-Canada Agreement (USMCA) are based on the rules of the Trans-Pacific Partnership Agreement (TPP). In addition to directly inheriting some of the provisions in the TPP, USMCA has made a series of upgrades to the digital trade rules in the TPP. The improvement of USMCA compared with the TPP digital trade rules is mainly embodied in the following aspects: extending the non-discriminatory treatment of digital products to broadcast service products; removing the “consideration of the regulatory needs of all parties” in the “free flow of cross-border data” clause; clearly identifying the specific agreements and principles to be followed by parties in terms of “personal information protection”; excluding “regulatory exceptions” and “public safety exceptions” in the non-mandatory data storage localization provisions; and expanding “barring the disclosure of open source” terms to infrastructure software and introducing “encryption protection” provisions; as well as promoting cooperation among parties in various areas such as information technology, cybersecurity, and small- and medium-sized enterprises. In addition, USMCA introduces extension rules that are not covered by the TPP, including “exemption of interactive computer service provider’s liability from third-party infringement” and “government data disclosure” terms. In light of the U.S. position made in USMCA negotiations, this paper predicted that in the post USMCA era of trade negotiations, the digital trade rules of the “American template” will mainly continue to develop and evolve in two aspects: continuing to promote the internationalization of the domestic digital economy in the U.S. and urging parties to open up specific digital service sectors. Digital trade negotiation and rule competition: a study based on text quantification of regional trade agreements China Industrial Economics,2019,No. 11 【Abstract】 This paper sorted out the multilateral and bilateral digital trade provisions, the American template, the European template and the electronic commerce provisions of China’s trade agreements. Using natural language processing analysis to compare and analyze the heterogeneity of these provisions, this paper had an empirical study on the factors affecting the digital trade provisions by countries. We find that the fragmentation of digital trade provisions under regionalism is serious. Developed countries such as the United States, Singapore, Australia, and Canada often have strong negotiating power and play the role of rule-makers. China’s cross-border e-commerce has a great potential for development and plays an important role in promoting global digital trade governance. The larger the economy is, the greater the economic similarity is, and the closer the bilateral distance is, the more likely it is to sign trade agreements with digital trade provisions. The greater the gap in Internet penetration, national risk and digital trade openness is, the smaller the possibility of signing digital trade terms between large countries is. In addition, the above factors also affect the heterogeneity of digital trade provisions. In the future, the direction of China’s digital trade negotiations should give priority to the countries of the Belt and Road Initiative. In terms of specific provisions, Internet access restrictions, data storage and source code issues should be gradually incorporated. While ensuring data security and gradually increasing the openness of the digital domain, China must also find a balance between digital trade regulation and development. Impact of Shanghai Disneyland on Shanghai tourist flow network: from the perspective of tourists’ digital footprints on the Lvmama website Tourism Tribune,2018,Vol 33,No. 04 【Abstract】 The opening of Shanghai Disneyland placed great expectations on promoting the development of related tourism industries in Shanghai and the Yangtze River Delta region. To understand the impact of Shanghai Disneyland on Shanghai’s tourism industry structure, we explored the changes in Shanghai’s tourist flow network after the opening of Shanghai Disneyland from the perspective of tourists’ digital footprints. First, we collected the ticket purchase and review data for 38 star scenic spots in Shanghai from the website of the Chinese online travel agency, Lvmama. We then constructed Shanghai’s tourist flow network based on the social network analysis method, using scenic spots as the nodes and the frequency of tourist flow between the spots as the edges. To show the impact of the opening of Shanghai Disneyland on Shanghai’s tourist flow network, we compared Shanghai’s tourist flow network before and after the opening using the following network indicators: network central potential, degree centrality, closeness centrality, betweenness centrality, and role analysis. We obtained the following findings: (1) Shanghai Disneyland changed the structure of Shanghai’s tourist flow network. Before Shanghai Disneyland opened, Shanghai Wild Animal Park and Oriental Pearl Tower were the twin cores of Shanghai’s tourist flow network. After Shanghai Disneyland opened, it joined the above attractions in forming the third corner of a core triangle in Shanghai’s tourist flow network. The three spots have close connections between them, especially Shanghai Disneyland and Oriental Pearl Tower. (2) Shanghai Disneyland significantly increased the total number of tourists and simultaneously centralized Shanghai’s tourist flow network. Most of the popular scenic spots were found to benefit from Shanghai Disneyland, while other scenic spots with few connections to the core scenic spots may risk being marginalized gradually. (3) Shanghai Disneyland has a strong attraction for tourists, but it has a smaller bridging effect than Oriental Pearl Tower and Shanghai Wild Animal Park. In summary, Shanghai Disneyland has a limited capacity for tourist transfer between scenic spots. (4) Shanghai Disneyland has a direct and obvious regional driving effect to Pudong New Area’s scenic spots, such as Jinmao Tower and Shanghai World Financial Center. However, it has limited driving effects on scenic spots in Shanghai’s other administrative districts. Comparatively, the tourist attraction capability of Oriental Pearl Tower and Shanghai Wild Animal Park is not as strong as that of Shanghai Disneyland, but these have a better tourist transfer effect to other scenic spots in Shanghai. Based on these findings, we propose three suggestions as follows. Shanghai could develop its tourism industry around Shanghai Disneyland; each scenic spot should try to build a business linkage with Shanghai Disneyland or use a strategy of differentiation from Shanghai Disneyland in their operations; and the government should guide the promotion of new developments in the Shanghai tourism industry. This paper adopts an innovative method to analyze the impact of Shanghai Disneyland on Shanghai’s tourism industry from the perspective of changes in Shanghai’s tourist flow network. This study enriches and expands the content of tourist research. Our conclusions could also provide some guidance for the future development of the tourism industry in Shanghai. Russian Central Asian & East European Market,2018,No. 04 【Abstract】 The promulgation of the “Digital Economy of the Russian Federation” Program indicates that the development of the digital economy has become Russia’s national strategy. The difficulties lie in its small economic proportion, low rate of growth, wide gap, shortage of qualified labors, insufficient IT capability and poor condition for participants and so forth. To boost the growth of the new industry, Russia has implemented a series of key measures focusing on specifying objectives, perfecting laws and regulations, and improving government institutions. Journal of International Trade,2018,No. 10 【Abstract】 Against the background of the intelligent transformation of manufacturing, this paper proposes the definition of digital trade based on the practice of digital trade in China and multi-way interpretations of digital trade. Digital trade is a new type of trade activity in the digital economy era. It relies on modern information networks and ICT to exchange physical goods, digital products, digital services, digital knowledge, and digital information. Digital trade will promote the transformation of consumer Internet to industrial Internet, and the intelligent transformation of manufacturing ultimately. This paper further analyzes the similarities and differences between digital trade and traditional trade and proposes the internal and external attributes of digital trade. Digital trade contributes to making new ground in pursuing all-round opening because it presents a trend of cost reduction, disintermediation and so on. With the development of digital trade, many propositions in traditional international economics have been challenged, and new economic facts are worth to be learned, which is an opportunity for China’s international economics research. Finance & Trade Economics,2018,Vol 39,No. 09 【Abstract】 Digital economy is a more advanced and sustainable economic form. Information and communications technology, as the core technology, has played an unprecedented role in promoting the development of social economy in all aspects. This paper firstly explains the concept of digital economy based on economics, and then analyzes the social reproduction process of digital information products and the characteristics of digital industry before proceeding to discuss the features of the micro-agents of digital economy and the sharing economy by adopting the basic principle of political economics. The emergence of digital economy poses challenges to the traditional economics and there is a pressing need for theoretical research and innovation to explain the new economic phenomenon. Patterns and determinants of labor supply of digital platform workers: an analysis based on U ride-hailing platform drivers Population Research,2018,Vol 42,No. 04 【Abstract】 This paper examined the basic demographic and labor supply characteristics of digital platform workers in China by using drivers’ survey data on U ride-hailing platform. A preliminary explanation of their differences in the labor supply at the individual level was presented. The result showed that overall the platform workers did not provide a high level labor supply and their labor supply showed a dispersed distribution. There was also inconsistence in the distribution of labor supply intensity and labor supply continuity. Drivers’ differences in education and hukou status could well explain their differences in the labor supply intensity but failed to account for their differences in labor supply continuity on the platform. The competitive income on the platform could well motivate drivers with low educational levels and non-local hukou, but it could not explain the labor supply behavior of drivers with high educational levels. Digital platform workers were featured by large internal heterogeneity. The issues of social risk bearing and social assimilation for digital platform workers merit more attention. China Economic Quarterly,2018,Vol 17,No. 04 【Abstract】 We summarized the development of digital finance in China during the past decade and reviewed the related literature from three aspects, including the development of digital inclusive finance in China and how it supported the real economy, the impact on the traditional financial markets, and the characteristics and risks of China’s P2P online P2P lending markets. We listed several questions about the future development of China’s digital finance for further research. China Economic Quarterly,2018,Vol 17,No. 04 【Abstract】 In this paper we matched the provincial-level data of digital inclusive financial index from the Institute of Digital Finance at Peking University with the registration information of new enterprises that measured the degree of entrepreneurial activity in the region, and studied the relationship between the development of digital finance and entrepreneurship. After considering factors such as endogeneity problem, we found that the development of digital finance played a significant role in promoting entrepreneurship. Moreover, the coverage breadth, the depth of use and degree of digital support services of digital finance also promoted entrepreneurship significantly. At the same time, in the analysis of the mechanism, we found that the development of digital finance had a strong encouragement effect on entrepreneurship for the provincial-level regions with low urbanization rates and the enterprises with small registered capital, which reflected the inclusiveness of digital finance. China Sport Science,2018,Vol 38,No. 11 【Abstract】 Digital-based performance training is the recent trend in the field of exercise science around the world, which attracts more and more attention from research institutes in China. Digital-based performance training is the use of digital monitoring devices to provide instant performance feedback during strength training, while supporting the timely adjustment during the training process. Basically, it is a bidirectional control mechanism. Digital-based performance training is of great importance not only to optimize the training efficiency in unit time, but also to enhance athletes’ motivation and to achieve personal accurate strength training for elite athletes. This paper has covered the following aspects: a systematic review of the concepts and advances of digital-based performance training in national and international literature; an exploration of main methods applied on digital-based performance training; case reports of a large number of elite athletes in practical applications; a discussion on the effectiveness of digital-based performance training for improving the training quality for elite athletes. We predict that digital-based performance training will become an important direction of the development of strength training in the near future. Research and application of the multispectral digital system for identifying pigments of Mogao murals Dunhuang Research,2018,No. 03 【Abstract】 Multispectral photography investigation technology has previously been used to reproduce the content of obscure murals and to analyze the use and distribution of the pigments in these murals. As for the murals of Mogao grottoes, a “multispectral photography image standard database of the Mogao grotto mural pigments” has been established by a rigorous system of selection and verification from the captured multispectral images of the 24 known types of pigments established by previous research results. Based on comparable terms, one can obtain the classification and distribution status of pigments of Maogao grotto murals through an analysis conducted by trained professionals comparing and analyzing the images of the murals captured under spectral conditions aligned with the pigment spectrum from the database. Individual differences in the perception of colors, however, are likely to lead to subjective inconsistencies, recognition difficulty, low precision and so forth, and it is not a process that untrained individuals can complete to produce satisfactory results. This study adopts the multispectral photography system to develop a multispectral digital image identification system for mural pigments based on the color data obtained from multispectral images. The process begins by selecting RGB values of the target pigment from obtaining multispectral images of wall paintings and converting them in HSV color space. By automatic querying, the most numerically similar HSV color values are then matched with pigment values from the multispectral image database, thus providing a scientific identification of pigment categories to a high degree of accuracy and efficiency that avoids the problems related to subjective manual comparisons. Business Management Journal,2017,Vol 39,No. 01 【Abstract】 Value co-creation in the digital world has been frontier and hot spot of the studies in the marketing field. From existing research achievements, the studies are still at growth stage. On the basis of sorting out related literature, this article reviews the development of studies on value co-creation in the digital world. Firstly, we take value co-creation in the digital world as an extension of value co-creation in the digital world, define the basic concepts of value co-creation in the digital world, and puts focus on sorting out the three core dimensions of value co-creation, namely new changes of interaction, integration and empowerment in the digital world. Secondly, on the basis of summarizing basic study framework of value co-creation, this article concludes three important research themes of value co-creation in the digital world, namely value co-creation of social media, value co-creation of brand communities and value co-creation and brand building in the digital world. At last, this article proposes some prospects to help domestic scholars in developing related research。 The strength of classical contract law in the digital era-in the context of digital single market strategy of the European Union Chinese Journal of European Studies,2017,Vol 35,No. 06 【Abstract】 Confronted with ubiquitous challenges in the digital era, contract law witnesses no disruptive threat because the classical contract law has demonstrated unprecedented institutional resilience and methodological strength. The EU Digital Single Market Strategy involves three types of digital contracts, namely, contract for the supply of digital content, contract for cloud computing, and machine-to-machine contract. The EU is the first region in the world that has endeavored to establish rules for digital contracts by abandoning the idea of digital goods and clarifying the concept of “supply of digital content” with abstract definition, incomplete enumeration and exceptional circumstances. The “supply of digital content” transcends the existing contract categories of sales contract and service contract. However, there are still huge potentials for the application of traditional categorization based on characteristic performance and application or quasi-application of typical contract rules. At the same time, the standard configuration of mixed contracts has become a critical theoretical focus. Exemption and limited-liability clauses in cloud computing contracts give prominence to the significance of standard terms. Smart contract appears to have surpassed the theory of incomplete contracts, but instead of being a de facto contract, it is simply an automatic procedure of protocol execution. Machine-to-machine contract also fails to threaten the theory of contract conclusion. The liability issue could be resolved by broadening the application scope of agency from “person” to “person and machine” with the reference to agency or communication rules. Digital content and intellectual property law have intrinsic connections as well as contradictions. As “defect in title” is the core morality of digital content defect, it is paramount to strike a balance between negative agreements on nature, copyright licensing and usage restrictions. Diversified and heterogeneous digital culture: the presentation and display of the digital culture of Dunhuang Grottoes Dunhuang Research,2016,No. 01 【Abstract】 Taking advantage of the digital presentation provided by Dunhuang Research Academy and requirements of the “Belt and Road” Initiative of cultural tourism, massive amounts of digital data documenting the Dunhuang Grottoes can now be transformed into various digitalized visual works, rendering immovable cultural relics accessible for people around the world through new methods of visual expression and new patterns of tourism. Careful organization and layout, research and design combining art and high-end technology, and virtualilty and reality combined spaces will create a brand new diversified and heterogeneous digital culture. Application of the integration of culture and technology in cultural heritage protection: a case study of the digitization of Dunhuang Mogao Grottoes Dunhuang Research,2016,No. 02 【Abstract】 Culture and technology are always going hand in hand, with one subtly influencing the other. Against the historical background of the integration of culture and technology, this article aims to describe the significant value of the integration of culture and technology in cultural heritage protection from an interdisciplinary perspective. By using the example of the digital conservation and exhibition of Dunhuang Mogao Grottoes, the authors further explore the specific application of the integration of culture and technology from both theoretical and practical dimensions, thus proposing practical approaches to the realization of the integration of culture and technology in cultural heritage protection. Sociological Studies,2016,Vol 31,No. 06 【Abstract】 Mathematical governance in the rural areas is a typical application of technological governance in rural poverty alleviation and development in China. The information competency of the state can be well improved by the localization, systematization and localization of the statistics. Based on the extensive fieldwork, the author finds out that due to the long multilevel contracting production of the mathematical techniques, where the logic and motivations of the agents’ behaviors differ from each other, the reliability of statistics cannot be guaranteed. More importantly, the statistics are the outcome of the state information penetration and administrative intervention, rather than growing from the activities of the grassroots. Thus it is isolated from the local governance process and rural social life. Social Sciences in China,2016,No. 10 【Abstract】 The basic digital divide used to be that of access. The development of internet infrastructure has reduced this divide and increased application and coverage, but it has triggered an internet dividend difference. Within the framework of internet capital, we have used the case of the internet market to investigate the source of this difference and the mechanisms that affect it. We found that the decline of the access divide has brought about platform development and increased connectivity, giving people the opportunity to use the internet to their benefit to transform the assets they have previously invested in into differentiated combinatorial internet capital. In particular, although differences in conversion scales and rates are influenced by two“multiplier effects,” they are more affected by internet platforms. This is ultimately expressed in dividend differences. Digitization of Historical Relics in the Dunhuang Caves: A combination of research, technology, and art Dunhuang Research,2015,No. 02 【Abstract】 This article discusses the cave-temple digitization from the perspectives of research, technology, and art. Firstly, research is foundation for the Dunhuang Caves digitization. It’s necessary to get knowledge of Dunhuang studies to tap its academic value; in accordance with the Law for the Preservation of Antiques, adopt scientific antiques protection concept; make use of professional knowledge of photography and computer to make the digitization project, so as to guide practical work. Secondly, establish workflow and standard specification of digitization, and continuously introduce new technology to adopt multiple technological means to store the data permanently. Finally, enhance application of digitization achievements, developing thought to show audience the Dunhuang Cave of the highest value for the purpose of art.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9478844404220581, "language": "en", "url": "https://kalkinemedia.com/definition/f/fiscal-policy", "token_count": 1084, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": -0.045654296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:ee86a4a0-580a-4e7c-ab99-4923b575eef9>" }	What is Fiscal Policy and its Key Tools? The term ‘fiscal policy’ has been formed from the word ‘fiscal’, which means anything related to government revenue or taxes. Fiscal policy refers to the measures taken by the government to influence the economy, especially through adjusting the levels of spending and taxes. Government employs fiscal policy in an economy to influence the level of aggregate demand to attain the economic objectives of full employment, price stability and economic growth. The government usually make adjustments in fiscal policy when an economy is going down on aggregate demand and when the unemployment rate is high. To make these alterations, the government has two key instruments at its disposal, as listed below: Taxation: The government modifies the structure of tax rates in line with the circumstances prevailing in an economy. With the change in tax rates, the government is able to sway the average income of consumers, which further influences the level of consumption and real GDP. Government Spending: Similar to taxation, government spending also carries the potential to increase or reduce the economic activity. The government utilises fiscal spending as a tool to stimulate public money flow to certain sectors that need an economic boost. Whoever obtains the funds from the government gets more money to spend, which in turn boosts aggregate demand and economic growth. How can you Differentiate Between Monetary and Fiscal Policy? While both fiscal and monetary policies are utilised to regulate economic activity over the course of time, the former is implemented by the government while the latter is conducted by the central bank. Moreover, the two policies majorly differ over the type of tools utilised by their respective authorities to stimulate economic growth. The below figure summarises key differences between the two policies in a concise way: What are the Objectives of Fiscal Policy? While monetary policy primarily targets output, inflation and employment; the fiscal policy does not focus on a specific goal but a range of objectives, as stated below: What are the Various Kinds of Fiscal Policy? Fiscal policy can be broadly categorised into two types – expansionary and contractionary fiscal policy. Expansionary Fiscal Policy: During a recession or an economic depression, the government often intervenes in the economy through expansionary fiscal policy so as to alleviate the fall in aggregate demand. The expansionary fiscal policy involves a fall in tax revenue, a rise in government spending or a combination of these two elements to drive economic activity. Here, increased government spending can be in the form of both purchase of goods and services by the government that directly improves economic activity, and transfers to people that indirectly stimulate economic activity when individuals spend those funds. Similarly, decreased tax revenue through tax cuts also bolsters aggregate demand indirectly. While the expansionary policy can lessen the negative impacts of recession on an economy, it can also trigger the following problems: Contractionary Fiscal Policy: When the economy moves from recession to an expansion phase, policymakers may decide to withdraw the fiscal stimulus by applying the contractionary fiscal policy. Such policy involves a rise in tax revenue, a fall in government spending or a combination of the two to slow economic activity temporarily. When the policymakers increase taxes, it reduces individuals’ disposable income, thereby lowering spending on goods and services. The reduced spending temporarily lowers aggregate demand, slowing economic growth for some time. Similarly, when the government reduces spending, it again lowers aggregate demand and economic growth temporarily. Akin to expansionary fiscal policy, the contractionary policy has its own caveats, as stated below: It is important to note that monetary policy can be used in conjunction with fiscal policy to limit the undesirable impacts of expansionary or contractionary fiscal policy. How Effective is Fiscal Policy in Financial Crisis? According to the International Monetary Fund (IMF), countercyclical fiscal policies have usually helped shorten recessions in developed/advanced economies during crisis episodes in the past. The countercyclical fiscal policy is stated as a strategy taken by the government to deal with recession or boom via fiscal measures. For instance, during the 2008-2009 Global Financial Crisis (GFC), the governments across the world resorted to fiscal policy as a measure to improve the performance of economies. In the US, Congress introduced large scale fiscal packages to support sectors like energy, transportation and education to sail through the crisis. While the fiscal stimulus package, together with deep recession, intensified the government budget deficit during the period, most economists concluded that the government stimulus was effective and helped boost consumer confidence. In fact, several economists argued that the unemployment rate in the US would have peaked to 11 per cent instead of 9.6 per cent in 2010 in the absence of a fiscal stimulus. As time went by, a fresh data set suggested fiscal policy having a considerable impact as a countercyclical economic policy instrument to tackle the effects of the global financial crisis. Akin to GFC, several fiscal stimulus bills have been enacted by governments across the world in response to the COVID-19 pandemic in 2020 to bring economies back on feet. The fiscal stimulus provided by governments against the coronavirus crisis included direct cash transfers to consumers, forgivable loans to small businesses, and increased unemployment benefits, among others. The Global Virus Crisis of 2020 also saw countries across the world utilising a mix of fiscal and monetary policy approach to aid their growth prospects.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9629061222076416, "language": "en", "url": "https://majenka.com/splittingzeros/part18", "token_count": 488, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.201171875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:4df9e6c0-6218-44a7-a4b4-48c5caa4e768>" }	We will look at both bank bailouts and bail-ins, starting with bailouts. Let's continue with the banks and sets of accounts from Part 17, and let's assume that 1st Bank has to write down its mortgage loan account (Mortgage Loan Account #1) by £10,000. This transaction is shown in Figure 18.1. Figure 18.1 Write down of Mortgage Loan Account #1. As this loan was securitised, we will also need to write down the security. For simplicity, let's assume 1st Bank takes the full write down on its security. The transaction for this is shown in Figure 18.2. Figure 18.2 Write down of Mortgage-backed security. The balance sheet of 1st Bank is shown in Figure 18.3 (2nd Bank and Central Bank remain unchanged). Figure 18.3 1st Bank's balance sheet after the mortgage loan write down. Now, 1st Bank is in trouble because it has negative equity of £10,000. It has assets of £175,000 and liabilities of £185,000. Assets minus liabilities is negative. The government may decide it is going to rescue 1st Bank from imminent bankrupcy. It can do this by purchasing share equity in the bank using the funds in its deposit account. Let's assume the government purchases £20,000 worth of new shares. A share is simply an ownership stake in a bank or other business. The transaction for this is shown in Figure 18.4. Figure 18.4 Purchase of share equity by the government. And the balance sheet of 1st Bank is now shown in Figure 18.5. Figure 18.5 Balance sheet of 1st Bank after the government bailout. After the bailout, 1st Bank now has positive equity and is no longer bankrupt. There is £20,000 less in deposits at 1st Bank since £20,000 of the government's deposit was used to purchase shares in the bank; so, government bailouts reduce the money supply. The government is able to sell the shares at a later date to recover the amount spent. However, most likely the government would have paid considerably more than the shares would sell for now, and the bank would have to recover its share value first.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9498692750930786, "language": "en", "url": "https://nerc.ukri.org/planetearth/stories/1909/", "token_count": 1282, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.154296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:f8910402-6416-4b8d-a810-8a072155a5fc>" }	Clear biodiversity commitments made by nearly one third of the world's biggest companies 4 October 2018 by Dr Prue Addison, NERC Knowledge Exchange & Research Fellow Some of the world's biggest private sector companies are committing to address their environmental impacts and factoring biodiversity into their sustainability reports. The perhaps surprising observation comes as part of my new study, which, for the first time, assessed the sustainability reports of the top 100 companies from the Fortune Global 500 List 2016 (hereinafter referred to as the 'Fortune 100'), including Tesco, Walmart and Apple. The findings sit as a direct contrast to United Nations' experts previous description of big business as "soulless corporations and a cancer on society", and suggest that the private sector is taking note of the public's growing concerns around corporate responsibility for environmental issues like plastics, marine pollution and deforestation. This study is the first of its kind and offers a global snapshot of some of the biggest corporations around the world - across multiple sectors of large businesses - that publicly disclose their impacts and dependencies on biodiversity. Understanding these varying levels of commitment will allow my team and others in the field to better work with these businesses to shape their biodiversity goals, help them be more effective in managing their impacts and, ultimately, better protect the environment. Of the Fortune 100 companies, 86 have publicly available sustainability reports. A review of this data revealed that almost half (49) of the Fortune 100 companies mentioned biodiversity in their reports and 31 made clear biodiversity commitments, and an additional 12 made clear fishing or forestry commitments. However, only five of these companies made biodiversity commitments that could be considered specific, measurable and time-bound. This is unlike the much greater adoption of science-based climate commitments made by companies committing to reduce carbon emissions in line with the Paris Agreement within the next decade, emphasising that biodiversity loss remains a less pressing issue to the private sector compared to climate change. Biodiversity underpins the resilience of ecosystems, economies and societies. Many businesses can be reliant on biodiversity, such as those in natural resource sectors. But many other sectors will find that biodiversity is relevant to business operations too - particularly since regulators, financial institutions and society are increasingly demanding responsible corporate practice when it comes to managing biodiversity impacts. Biodiversity is a critical aspect of the living environment that should be considered across public and private sectors if we are to halt the biodiversity declines that have been witnessed around the globe over recent decades. My colleague Professor EJ Milner-Gulland, who leads the Interdisciplinary Centre for Conservation Science in Oxford's Department of Zoology, said: It is important for us as conservation scientists to understand to what degree larger corporations depend on biodiversity, so that we can begin to work more closely with the private sector to help them develop fit-for-purpose and science-based approaches to better integrate biodiversity considerations into future business decisions. Dr Joe Bull, another of my co-authors on the paper, from the Durrell Institute of Conservation & Ecology at the University of Kent, said: We were pleasantly surprised at how many companies do acknowledge biodiversity in their sustainability reports, with almost half of the 2016 Fortune 100 Global companies mentioning biodiversity. But, despite this, the biodiversity commitments made, activities undertaken and information disclosed about biodiversity in sustainability reports are incredibly variable. So there is clearly room for improvement, and in our paper we show how approaches from conservation science can help advance corporate biodiversity accountability. In recent years environmental awareness has become a hot-topic social issue, with people petitioning brands to do more in the way of environmental protection, such as banning single-use plastic, through to slowing the rate of global deforestation. This study represents just the beginning of our applied research into corporate biodiversity accountability. Now that we understand how businesses currently treat biodiversity in their public reporting, we can work in a more targeted way with businesses to help them more rapidly advance their corporate biodiversity accountability. Some critical areas we are already beginning to work with business on include developing science-based corporate biodiversity commitments, and robust and relevant quantitative biodiversity indicators. We also recognise the power that the Sustainable Development Goals (SDGs) hold for many businesses, so we are working to show how being accountable for biodiversity can help businesses demonstrate their commitment to international conservation and sustainable development priorities outlined in the SDGs. We are keen to build on these findings by building relationships with big businesses and helping them develop clear biodiversity aspirations and take action to address and drive their goals towards making positive environmental change. We have had a lot of interest in our research already - particularly from organisations that aim to support businesses in their non-financial reporting and accounting. For example, we have been speaking with the Integrated Biodiversity Assessment Tool alliance, who are very excited about our research. They are increasingly getting requests from businesses to develop a tool that will support them in undertaking corporate-level reporting on biodiversity. As yet, no such tool exists, we hope that our research could form the underpinning for a prototype tool in the coming year to support businesses with their corporate-level reporting on biodiversity. NERC's Head of Futures Rob Gillies said: It is encouraging that big corporations are including biodiversity in their sustainability reports but there is still more to do. NERC is working closely with corporations, including the financial services sector, to understand the barriers to more effective analysis and disclosure of climate and environment risks, including biodiversity. This is helping us to support research and innovations which will enable businesses to make decisions that will ultimately lead to positive environmental change." Dr Prue Addison is a NERC Knowledge Exchange & Research Fellow at the Interdisciplinary Centre for Conservation Science (ICCS) - external link in Oxford's Department of Zoology. She has produced a brief science note on the paper (PDF) - external link - for a Knowledge Exchange event at the ICCS. This study was conducted by researchers in Oxford's Department of Zoology, in collaboration with the Durrell Institute of Conservation & Ecology (DICE) at the University of Kent. 'Using conservation science to advance corporate biodiversity accountability' - PFE Addison, JW Bull and EJ Milner-Gulland, 2018, Conservation Biology. Read more about corporate commitments to reduce emissions in line with the Paris Agreement on the Science Based Targets website - external link.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9243563413619995, "language": "en", "url": "https://vicwater.org.au/vicwater-policy-platform/environmental-stewardship/", "token_count": 520, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.03271484375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:eec4fb06-f8b6-4872-9205-ae4110c94525>" }	Water industry activities create environmental risks that are regulated by Victoria’s Environment Protection Authority (EPA). The cost of upgrading sewerage networks and treatment facilities to reduce these risks can be very high and will ultimately be borne by customers. Reducing these risks involves trade-offs with higher water service prices which need to be managed carefully over time. The Environment Protection Act 2018 (EP Act) establishes a General Environmental Duty (GED) that requires all entities to adopt ‘reasonably practicable’ measures to prevent harm to the environment and human health. In contrast to more prescriptive compliance standards, this duty follows the ALARP principle¹ for safety in creating a more flexible, risk-based standard of environmental performance. Under this approach, the way water corporations make decisions and prioritise actions to discharge their GED will be subject to great scrutiny. Under the EP Act the water industry may develop guidelines, policies and codes of practice that show how the industry will comply with the GED. An industry-led approach to developing these tools will support the industry to assess, manage and mitigate environmental risks. It will reduce the risk of arbitrary compliance and enforcement action, and it will support constructive engagement between regulators, the industry and with other stakeholders (local councils, catchment management authorities, etc.) to manage the price implications of addressing environmental risks. ¹ The ALARP (“as low as reasonably practicable”) principle requires the residual risk to be reduced as far as reasonably practicable. A clear understanding of what is required to fulfil the GED under the EP Act A well-defined policy framework that supports effective environmental performance across the industry in a cost-efficient manner - The water industry is committed to preventing harm to health and the environment and will build on its strong track record of environmental management. - The implications of the compliance obligation created by the GED for water prices should be carefully considered by all stakeholders. - The industry seeks genuine dialogue with the EPA to achieve the industry’s objective of meeting its environmental obligations in a cost-effective way. - Industry-led guides and codes of practice are needed to support water corporations to meet the requirements of the GED and provide a framework to engage with stakeholders about investment in environmental outcomes. Environment Protection Authority (EPA) Essential Services Commission (ESC) Serving our customers and communities (affordability) Responsible environmental stewardship (sustainability) Good governance (efficiency) Leadership and innovation (collaboration and partnership, continuous improvement)
{ "dump": "CC-MAIN-2021-17", "language_score": 0.958463728427887, "language": "en", "url": "https://www.consumerfinance.gov/about-us/blog/april-is-financial-literacy-month-so-what/", "token_count": 647, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.068359375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:b520c162-945e-4a4e-8a2d-9b3bb27a214f>" }	Before writing this post, I did a brief survey of my colleagues to ask for their thoughts about what financial literacy means and why it is important. Here are some of the responses I got: “A fair financial marketplace requires that consumers be informed about the products and services they are buying.” “What are you going to do when you can’t work anymore? Financing your own future means you have to know how to save and how to protect that savings.” “People are more empowered when they know how to avoid being scammed. Giving people information so they can protect themselves is, to me, very important.” “When you talk about poorer populations, it’s about helping them understand ways they can help themselves.” The point is, financial literacy, or financial capability is not a monolithic thing that can be applied, released, or taught in one way to one group. When we talk about the lack of financial knowledge in the United States, we tend to debate: - Where it should be taught – in schools or at home. - When it should be taught – in elementary school, high school, college, or on the job. - How it should be taught – in workshops, online, games, or over months of coaching sessions. - Who should teach it – K-12 teachers, financial professionals, money coaches, or radio and TV show hosts. The good news is there are many right answers. The one thing most people agree on is that it should be taught, and that it requires more than just a transfer of knowledge. For some people, it may require knowledge and building new skills – practice to build comfort and confidence. For others it may mean unlearning bad habits. And for some it could mean a change in attitude – like choosing healthy eating over double cheeseburgers. The reason there are so many different approaches to financial education is because there are many different audiences, with many different needs, and many different ideas about good solutions. We can debate the specifics, the methods, and the media, but there is little debate about the need. It’s why we are working every day to create new partnerships, research new ideas, share best practices, and develop new materials and innovative ways to deliver them. What can you do about it? - If you have kids, talk about the family budget. Encourage them to save a portion of their allowance to help them build a savings habit and learn to set, and achieve, financial goals. Ask them what they’ve learned in school about money, or talk to their teachers. - If you participate in clubs or church groups, invite a local consumer group, credit counselor or financial planner to speak. Download and share them with your group. Volunteer to help others. - If you own a business or have the ability to make suggestions, consider a program to help employees understand more about managing their money. Start an automatic enrollment retirement plan or provide resources or referrals to help employees plan for their futures. How can you help promote financial education? Remember, there are no wrong answers.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9722000360488892, "language": "en", "url": "https://www.diydoctor.org.uk/blog/2012/07/what-is-the-answer-to-the-housing-crisis/", "token_count": 635, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1298828125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:94027694-aefe-45b3-98ac-530c8a336af8>" }	Official census figures have been released by the office of National Statistics (ONS). They make for interesting reading in relation to the low increase of the number of ‘households’ compared to population figures. The census has revealed that the number of households in England and Wales was 23.4 million in 2011 as opposed to 21.7 million in 2001, a rise of only 1.7. Over the same period the population rose by approximately 4 million to 56 million in 2011. This is an indicator that young people are not able to move out of the family home. The Census confirms that in the 14 years prior to 2011 there has been a 20% increase in the number of 20-34 year-olds living with their parents. In addition the percentage of people owning their own home has fallen to 66%, the lowest rate since 1998. These figures are leading to Housing Charity Shelter, and pressure group Defend Council Housing, to call for more affordable houses to be built, by this they mean council housing and social housing but is this the solution Do we need to worry about multi-generational households? While there is a concern that young people are not able to move out of the family home there are benefits to the economy and community in having a greater density of population within each household. Perhaps the government policy is designed to harness these benefits Larger household groups make each individual better off as they can spread the household bills and costs. - Energy consumption will be lower as heating and cooking costs will be shared. - Multigenerational families can share fewer vehicles to cut costs and carbon emmisions. - Childcare, nursing and care for the elderly are more likely to be integrated into the day-to-day running of the household where several generations are living under one roof. - Financial pressures on young people are huge for this generation as they face factors such as high student loans and a lack of money in the state pension funds. By staying at home they can keep their expenses down to allow them to plan for these contingencies. - By staying in the family home longer, they stand more chance of being able to save money towards a deposit to buy their own home. Perhaps what is actually needed is to plan housing that allows mixed generation living in a way that is convenient to the people living in them. The Relationship Foundation are asking for planning laws to favour ‘granny flats’. Peter Lynas from the foundation says “Planning law should adopt a presumption in favour of granny flats and the tax system could incentivise this type of living arrangement”. Home improvers and self-builders could consider these issues when planning the number of bathrooms, water heating systems, and ancillary kitchen areas. Younger generations could be housed in loft conversions, and where there is a large garden available households could consider adding a home office buildings to give space to work or even to have an area that is quiet. We would love to hear of your own experiences of this sort of living, or your opinion whether you think this could work for you – please leave yoru comments below.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9364098310470581, "language": "en", "url": "https://www.fxsolver.com/browse/formulas/Black-Scholes+formula+-++value+of+a+call+option+for+a+non-dividend-paying+underlying+stock", "token_count": 769, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.31640625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:1fcc9588-e929-4ea2-a244-d880b2b28b04>" }	Black-Scholes formula - value of a call option for a non-dividend-paying underlying stock The Black–Scholes /ˌblæk ˈʃoʊlz/ or Black–Scholes–Merton model is a mathematical model of a financial market containing derivative investment instruments. From the model, one can deduce the Black–Scholes formula, which gives a theoretical estimate of the price of European-style options. The formula led to a boom in options trading and legitimised scientifically the activities of the Chicago Board Options Exchange and other options markets around the world. lt is widely used, although often with adjustments and corrections, by options market participants. Many empirical tests have shown that the Black–Scholes price is “fairly close” to the observed prices, although there are well-known discrepancies such as the “option smile”. The Black–Scholes model was first published by Fischer Black and Myron Scholes in their 1973 paper, “The Pricing of Options and Corporate Liabilities”, published in the Journal of Political Economy. They derived a partial differential equation, now called the Black–Scholes equation, which estimates the price of the option over time. The key idea behind the model is to hedge the option by buying and selling the underlying asset in just the right way and, as a consequence, to eliminate risk. This type of hedging is called delta hedging and is the basis of more complicated hedging strategies such as those engaged in by investment banks and hedge funds. Robert C. Merton was the first to publish a paper expanding the mathematical understanding of the options pricing model, and coined the term “Black–Scholes options pricing model”. Merton and Scholes received the 1997 Nobel Memorial Prize in Economic Sciences for their work. Though ineligible for the prize because of his death in 1995, Black was mentioned as a contributor by the Swedish Academy. The model’s assumptions have been relaxed and generalized in many directions, leading to a plethora of models that are currently used in derivative pricing and risk management. It is the insights of the model, as exemplified in the Black-Scholes formula, that are frequently used by market participants, as distinguished from the actual prices. These insights include no-arbitrage bounds and risk-neutral pricing. The Black-Scholes equation, a partial differential equation that governs the price of the option, is also important as it enables pricing when an explicit formula is not possible. The Black–Scholes formula has only one parameter that cannot be observed in the market: the average future volatility of the underlying asset. Since the formula is increasing in this parameter, it can be inverted to produce a “volatility surface” that is then used to calibrate other models, e.g. for OTC derivatives. The Black–Scholes formula shown here, calculates the price of European put and call options. This price is consistent with the Black–Scholes equation as above; this follows since the formula can be obtained by solving the equation for the corresponding terminal and boundary conditions.Related formulas \|C(S,t)\|\|value of a call option for a non-dividend-paying underlying stock (dimensionless)\| \|N(d1)\|\|standard normal cumulative distribution functions for d1 (dimensionless)\| \|S\|\|spot price of the underlying asset (dimensionless)\| \|N(d2)\|\|standard normal cumulative distribution functions for d2 (dimensionless)\| \|K\|\|strike price (dimensionless)\| \|r\|\|risk free rate (annual rate, expressed in terms of continuous compounding) (dimensionless)\| \|T\|\|time to maturity (dimensionless)\|
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9625747799873352, "language": "en", "url": "https://www.savingforcollege.com/article/15-facts-about-financial-aid-eligibility", "token_count": 1555, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.014404296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:bedbbc4a-4c31-4da9-8126-7c6529159d98>" }	If your child is heading to college soon, you’re probably wondering about financial aid eligibility. Each year, more than $120 billion in federal student aid is awarded to more than 15 million students who want help paying for college. Yet the financial aid system is so complicated that many families end up making costly mistakes on their applications. Here are 15 facts that can help you maximize your eligibility and reduce the amount you’ll have to pay for college out of pocket. 1. Around 38% of financial aid awarded is in the form of federal loans - Too many families assume that any type of “award” is free money. - There are generally three types of awards: grants, scholarships and loans. - Student loans need to be paid back and you will have to pay interest. 2. Financial aid eligibility is recalculated annually - Your Expected Family Contribution (EFC) is calculated using information from your FAFSA, which needs to be completed for each school year. - Your school will use your EFC to determine how much federal student aid you receive. - Any significant changes in your household assets could cause the amount of aid you receive to vary from the previous year. 3. You need to maintain good grades for all types of aid - Don’t think of your financial aid application as a “one-and-done” activity. - Those who qualify for need-based aid must remain in good academic standing to renew their financial aid in subsequent years. - You must maintain at least a 2.0 GPA on a 4.0 scale to maintain eligibility for federal student aid. Other forms of financial aid may have a higher minimum GPA. 4. If you’re a parent who is close to retirement, you might want to consider holding off for a few more years - Any liquid assets will be counted against your EFC, even those intended for a parent’s retirement. - This includes the sale of a home, inheritance and even company retirement perks such as vested stock options. - It’s unlikely that you would be able to verbally convince a financial aid administrator otherwise. 5. Private colleges sometimes offer more financial aid than public schools - Don’t cross a private college off your list simply because of its price tag. - There are many private colleges that offer need-based and merit-based aid packages. - Some students actually end up paying a lower total price at a private school, even though the initial sticker price is much higher. 6. If you’re applying for financial aid, you may be better off saving with a 529 plan than a UGMA/UTMA account - Funds saved in a UGMA/UTMA custodial account are considered a student’s assets and are assessed at 20% when determining your family’s EFC. - Savings in a 529 account, however, are considered parental assets and are assessed at a maximum rate of only 5.64%. - That means if you saved $10,000 your EFC could increase by $2,000 or $564, depending on which vehicle you used to save. 7. A student needs to be enrolled on at least a half-time basis to qualify for federal loans - Keep in mind, however, that you can still take out the same dollar amount in unsubsidized Stafford Loans whether you are a full-time or part-time student. - If you are taking a reduced course load, it’s recommended that you reduce the amount you borrow proportionately to avoid racking up too much debt. - There is also a limit to how much a student can borrow and it is possible to run out before graduation. 8. Federal grants are prorated based on enrollment status - Grants are typically need-based awards that do not have to be paid back. - Students who are enrolled half-time will receive half of the award that would have been given if they were a full-time student. - Students who receive grants may want to think carefully before reducing their credit hours since they will miss out on the funding. 9. Parents who remarry are no longer considered to have a “single” income - The Higher Education Act of 1965 requires remarried parents to include the new spouse’s income on the FAFSA. - The College Scholarship Service (CSS/Financial Aid Profile), used by some private schools may require you to report income of up to four people if the original parents are divorced and both remarry. - A stepparent’s children count in household size and number in college even if they don’t live with him, so long as the stepparent provides more than half their support. This can have a big impact on aid eligibility, since the parent contribution is divided by the number of children in college. 10. Grandparent-owned 529 plans can negatively affect financial aid eligibility - Assets in a grandparent-owned plan will count as student income on the following year’s FAFSA when used to pay for college. - Student income is assessed at 50% when calculating your EFC. - Grandparents are generally advised to wait until January 1 of the grandchild’s sophomore year of college to start help paying for college, due to prior-prior reporting rules. 11. Colleges view vacation home equity as a liquid asset - Perhaps you’ve been considering purchasing a vacation home now that the kids have almost left the nest for good. - Before you put a downpayment on a lakehouse, know that equity in a vacation home is considered a liquid asset both on the FAFSA and the CSS/Financial Aid Profile. - Equity in your family home, however, does not count as an asset on the FAFSA, but is counted on the CSS/Financial Aid Profile. 12. Students sometimes have a chance to appeal their case to a financial aid office - Sometimes eligibility can be reduced because of something beyond the student’s control. - For example, income reduction due to job loss or a one-time event (like a bonus) that is not reflective of ability to pay during the academic year. - In unusual circumstances like this, the student may request their situation to be reevaluated through a process called professional judgment. 13. Students from wealthy families may still qualify for aid - Financial aid eligibility is not solely based on income. - Other factors include the number of other family members attending college and household medical expenses. - With the help of a financial professional, high income families can also adjust their household financials to maximize eligibility. 14. Know what you are signing up for as an early decision applicant - When a student accepts an early decision agreement in the fall, it includes the school’s financial aid offer. - This is a binding agreement, which means they won’t be able to shop around or take a better offer from another school. - Despite popular belief, applying early doesn’t always mean you have a better chance for acceptance. 15. Fill out the FAFSA even if you don’t want loans - When you fill out the FAFSA, you are applying for federal and state funds, as well as awards from your school. - These can include grants and scholarships in addition to federal loans. - Financial aid is first come, first serve, so file early!
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9120208024978638, "language": "en", "url": "http://mediabrand.live/create-a-cryptocurrency-coin/", "token_count": 1344, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.109375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:1e6c6f4a-3ae0-46f8-89ad-d6d0096befce>" }	If you aren’t a Professional coder but Have become a keen armchair observer of Bitcoin, Dogecoin, and every other increasingly niche cryptocurrency, you might be asking yourself if it is possible to create your own. However there are quite a Few different options to think about –and caveats to bear in mind–until you dive in. Difference Between a Coin and a Token First, it is important to understand The difference between coins and tokens. Both are cryptocurrencies, but while a coin–Bitcoin, Litecoin, Dogecoin–operates on its own blockchain, a token lives in addition to an existing blockchain infrastructure like Ethereum. A blockchain isalso, at its simplest, a record of transactions made on and ensured by means of a network. So while coins have their own independent transaction ledgers, tokens rely on the underlying system’s technology to verify and secure transactions and ownership. Generally, coins are used to transport wealth, while tokens could signify a”contract” for almost anything, from physical items to event tickets to loyalty factors. Tokens are often released through a Crowdsale called an initial coin offering (ICO) in exchange for existing coins, which then fund projects like gaming platforms or digital wallets. You are still able to get publicly available tokens after an ICO has ended–like buying coins–using the inherent currency to make the purchase. Anyone can create a token and operate a Crowdsale, however, ICOs have become increasingly murky as creators take investors’ money and run. The SEC cautions investors to do their research before purchasing tokens launched within an ICO. In the time of writing, CoinMarketCap tokens made it into exchanges, however — Etherscan, that supplies Ethereum analytics, has over 71,000 nominal contracts in its The very idea behind cryptocurrency Is that the underlying code is accessible to everybody –but that doesn’t mean it’s easy to comprehend. Here are the paths to making your own coins and tokens. Construct Your Own Blockchain–or Fork an Existing One Both These methods require quite a Bit of specialized understanding –together with the assistance of a savvy programmer. The former requires serious coding skills as well as though tutorials exist to help you through the process, they assume a certain knowledge level, and also you don’t finish with a fully As an Alternative, You can fork an Existing blockchain by taking the open-source code found on Github–Litecoin, for instance –making a few alterations, and launch a brand new blockchain with a new name (such as Garlicoin). Again, this requires you to comprehend the code so you know what to alter and This alternative is the most feasible for The average person–a creation service is going to do the specialized work and deliver your finished token or coin straight back to you. For instance, a seasoned team of crypto developers will actually construct a custom coin, and all you’ve got to do is input the parameters, in the logo to the number of coins awarded for registering a block. (That is, even when they’re open for businessas of press time, orders are currently closed.) They have pre-built templates which only require that you provide a name and a symbol. The base cost for this particular service is 0.25 BTC ($2002.00 as of this writing), and you will get your coin’s source code in a couple of days. Basically a smart contractwith or without a people ICO. Because tokens can signify any advantage, from a concert ticket or voting directly to financing via a crowdsale or even a physical money, you may also create a token without a real value or serious purpose other than to exchange among friends. This is quicker, simpler, and cheaper than making a coin because it doesn’t demand the time and effort to build and maintain a new or forked blockchain and rather relies on the technology already in use for Bitcoin or even Ethereum. A Frequent product is the ERC-20 token, The standard for those built around the Ethereum blockchain. The code for these nominal contracts and crowdsales is also readily available for your very ambitious, however there are user-friendly platforms which will walk you through the process. Example, you will have to add the browser extension–which connects you to the Ethereum network–to your browser and follow their walk-through video to build your token and start your ICO. The platform gives the choice to create bonuses and vesting programs for investors or even establish a token contract with no crowdsale. The token contract procedure is free, but CoinLaunch requires a commission from each ICO (4-10percent depending on much money is raised). If you’re crypto-curious, there’s No penalty to experimenting with nominal contracts. Begin with an ERC-20 token –you can distribute to your friends and then money into whoever purchases drinks at the pub. There is no financial value or dedication connected, but this will allow you to realize the technical aspect in addition to how tokens work. If You Would like to go a step further to Create a coin with real worth to get a broader audience to mine, buy, and sell, and you don’t have coding experience, you’re likely going to need the help of one or more programmers. Even in the event that you use a service to construct your money, you’ll want to maintain itknow this won’t be economical or risk-free. The technical creation of a Cryptocurrency is not actually the hardest aspect of starting a successful crypto undertaking. The actual work is in providing your money or token price, building the infrastructure, maintaining it, and forcing others to purchase in–even memecoins, for example Garlicoin, Dogecoin, and PepeCoin, have programmers and user-facing teams to maintain the technology secure and the community engaged. Lots of cryptocurrencies are unsuccessful, even questionable from a legal standpoint, because the ICO was not created in good faith or the coin failed to create lasting interest. The term”shitcoin” is present for a reason.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9456480145454407, "language": "en", "url": "https://castlereagh.net/middle-east-utilities-vs-distributed-generation-a-losing-battle/", "token_count": 1187, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.26171875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:10af560e-1436-40ef-83c5-15b837f9cc26>" }	Distributed renewable energy generation offers many opportunities for power sectors in the Middle East, including the ability to increase the resilience of the power system and reduce both the cost of subsidies – which weigh heavily on states’ budgets – and the need for grid expansion. However, state-owned electricity utilities are concerned about losing revenue and their monopoly of the sector. Changes to the business models, tariffs and culture is the best way for utilities to remain relevant. The concept of decentralised power generation has long faced opposition in economies across the region. Private sector engagement in the power sector has been on the rise, but in all markets its share remains marginal compared to that of the state. Most energy sectors are still dominated by publicly owned electricity utilities which, by subsidising end-user tariffs, have played a key role in the social contract between the state and its citizens. Although generous subsidies and elevated technical and non-technical losses have resulted in high fiscal deficits, accumulated public debt and underinvestment – especially in grid enhancement – governments have traditionally resisted moves to restructure the power sector because it could weaken political approval and lead to social unrest. However, as the economic slowdown continues to take its toll – the region’s expected growth for 2019 was recently halved to 1.3% from an initial estimation of 2.5% – governments are increasingly turning to electricity tariff hikes, while encouraging greater adoption of renewable energy generation to reduce the burden of subsidies. New frameworks and incentives promote decentralised renewable energy generation The potential for distributed generation is significant: The majority of public utilities, which rely on the single-buyer model and subsidies, currently lose money whenever they generate or purchase power. Distributed generation reduces the demand from the utility’s side, thus narrowing the state’s fiscal deficit, and reduces the need for grid expansion, enabling investments to focus instead on grid modernisation. Several economies have developed frameworks, incentives and financing mechanisms for decentralised generation from renewable sources. Jordan, Lebanon and the UAE have adopted net-metering policies, while Oman’s Sahim scheme has adopted a feed-in tariff to enable financial compensation for power exported to the grid. Dubai’s Shams Solar Programme, which aims to have solar systems on every rooftop by 2030, should include a serious effort to adopt a wheeling policy considering the most of city’s buildings are high rises. Meanwhile, Lebanon’s NEEREA and Jordan’s JREEEF financing mechanisms provide low-interest loans for energy projects, although small and medium-sized enterprises – which constitute more than 93% of businesses – haven’t been able to tap into these funds easily. While these mechanisms have been slow in building momentum for distributed generation, falling renewable energy prices and increasing utility tariffs are driving up demand: the number of on-site renewable generation systems increased by 60% from 2012 to 2016 across the Middle East, despite still accounting for a small share of the total installed renewable energy capacity. Decentralised power generation poses risk to utilities’ revenues Despite these schemes, most utilities in the Gulf still consider distributed generation to be less economically viable than utility scale. On-site generation also poses a threat to utilities’ revenues, as the bulk of their income typically comes from users in high-value energy bands, and these are usually the first to consider distributed renewable energy generation to reduce their electricity bills. Many governments are opting to significantly hike tariffs on high-paying customers as well as the commercial sector – the second highest electricity user in the region – in an attempt to offset the cost of subsidies, while safeguarding the most vulnerable and some productive sectors, such as industry. By doing so, they are unintentionally driving consumers to seek distributed renewable energy generation, mostly rooftop solar. Utilities must adopt new business model to reduce costs, increase resilience Utilities should seek to capitalise on, rather than block, the growth of decentralised renewables generation, considering the potential it has to not only reduce consumer costs and state subsidies, but also increase resilience in an otherwise highly vulnerable electricity sector. Even Saudi Arabia, sitting on the throne of oil exporters and self-sufficient in natural gas, with a 21% reserve capacity margin, suffered an electricity black-out in its southern region in early June, highlighting the need for alternative power generation models. Middle Eastern economies require a change in culture, whereby the state shifts from being the provider of electricity services to an enabler of a thriving power market and overall economy. The complexities and intermittencies of renewable energy technologies coupled with rapidly increasing electricity demand – which is being fuelled by population growth and adoption of technology – have already killed the old utility model, even if it is still dominant across the region. Some economies may try to resurrect it in order to safeguard power, but that would only lead to further fiscal deficits and loss of revenues in the long run. Utilities should, therefore, reconsider their business models and find new revenue streams within the distributed renewable energy market. The proliferation of on-site systems could ease the burden of subsidies and lessen the impact of tariff hikes, while enabling an optimal tariff restructure which the utilities drastically need, namely, one that emphasises time-of-use rates, promotes optimal usage of renewable energy and enables better equity. These measures would not only ensure the survival of the electricity utilities, but also ultimately reduce their costs, enabling investments in a modern grid and a more robust power market. Jessica Obeid is an independent energy consultant and academy associate at Chatham House, where she previously served as resident fellow in the Energy, Environment and Resources Department. Before that, she was chief energy engineer at the United Nations Development Programme in Beirut. She holds a master’s degree in Political Sciences and a bachelor’s degree in Electrical Engineering.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9604865312576294, "language": "en", "url": "https://hamidsadeghpour.net/2019/09/18/microsoft-azure-economies-of-scale/", "token_count": 390, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.051025390625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:a899731c-247a-43ac-af99-c087a909b3cc>" }	Welcome again to my blog 🙂 It’s good to see groving visitors everyday! Thank you Today I’m gonna mention some important things about Microsoft Azure from book AZ-900 also the exam code for Azure Fundamentals. The concept of economies of scale is the ability to do things more cheaply and more efficiently when operating at a larger scale in comparison to operating at a smaller scale. Cloud providers such as Microsoft, Google, and AWS are very large businesses, and are able to leverage the benefits of economies of scale, and then pass those benefits on to their customers. This is apparent to end users in a number of ways, one of which is the ability to acquire hardware at a lower cost than if a single user or smaller business were purchasing it. CapEx Vs OpEx In previous years, startup companies needed to acquire a physical premises and infrastructure to start their business and begin trading. Large amounts of money were need to get a new business up and running, or to grow an existing company. They would have to buy new datacenters or new servers to allow them build out new services, which they could then deliver to their customers. That is no longer the Today, organizations can sign up for a service from a cloud provider to get up and running. This enables them to begin selling or providing services to their customers more quickly, without the need for significant These two approaches to investment are referred to as: ●● Capital Expenditure (CapEx): This is the spending of money on physical infrastructure up front, and then deducting that expense from your tax bill over time. CapEx is an upfront cost which has a value that reduces over time. ●● Operational Expenditure (OpEx): This is spending money on services or products now and being billed for them now. You can deduct this expense from your
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9352390766143799, "language": "en", "url": "https://packagingrevolution.net/pandemic-climate-change/", "token_count": 1272, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.007232666015625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:9f330d85-6bc2-418f-a9ee-2333120d0722>" }	The COVID-19 pandemic is an invisible, deadly menace. It has caused a global health crisis and unfathomable economic destruction. But that’s not all! The outbreak has also affected the environment in an enthralling way. One notable environmental change is the reduction of CO2 emissions. Reduced carbon has resulted in improved air quality and encouraged wild animals to explore cities. Join us as we explore the impact of the pandemic on the climate. Reduced Emission of Greenhouse Gasses The dramatic responses to COVID-19 by various governments, such as travel restrictions and business closure have led to a sharp reduction of economic activities. This means a reduction of fossil fuel consumption around the world. In 2020, many countries reported a significant reduction in greenhouse gas emissions. Propelling them closer to meeting the initial emission targets, which they agreed upon in the Paris Agreement on climate change. During the pandemic, scientists confirmed that carbon dioxide emissions dropped by 7% in 2020. But the levels of CO2 in the atmosphere and other primary greenhouse gasses, like methane and nitrous oxides, are still high. Therefore, the earth’s temperature is still on the rise. If you go through an essay about global warming, you will understand how the molecules of CO2 and other greenhouse gases are trapping heat, causing an increase in earth temperature. If we can reduce greenhouse emissions levels to zero, we can change the rate at which our earth is heating up. In reality, the coronavirus has not changed the course of climate change. Nevertheless, it has taught us about our ability to act in times of crisis. Besides reduced carbon emissions, the pandemic has resulted in changes in social attitudes, individual behaviors, and government responses. The changes will impact the environment and the ability to fight climate problems. Some changes will make the current situation better, while others will make them worse. Green Recovery in Other Countries In 2020, The European Commission (the executive branch of the EU) placed forth the world’s greatest stimulus plan. It was a 750 billion euros ($908 billion) economy recovery plan to make the EU carbon neutral by 2050. The plan included financing for: - Renewable energy - Electric vehicles - Developing non-carbon fuels like hydrogen The stimulus got approved by all the EU’s member states. Other countries like South Korea, Germany, and France used the looming pandemic as a chance to make their societies resilient to the existing climate crisis. France invested $8.8 billion to help kick start its car industry with an aim to become Europe’s leading producer of electric cars. South Korea introduced a Green New Deal that would make it the first East Asia country to achieve net-zero emission by 2050. Germany devoted a stimulus plan of $145 billion to electric cars, public transportation, and renewable energy. They allocated no money for combustion engine vehicles. Consequently, combating air pollution caused by CO2 production. Living More Simply Quarantines and lockdown have compelled people to stay indoors and cook. The result is that few people are eating out or ordering food. Therefore, there’s a decrease in carbon footprint because of reduced processing, packaging, and transportation of food. And that’s not all! Living more simply has encouraged many individuals to re-evaluate their pre-pandemic consumerist and materialistic life. Consumer goods impact climate change throughout their life cycles, from processing to disposal. And each step results in carbon emission. Maybe we don’t need to rock the latest design or use other consumer goods. Deforestation of the Amazon Forest For years, Jair Bolsonaro (Brazil’s President) has advocated for the commercialization of the Amazon forest. The Amazon rainforest absorbs over two billion tons of atmospheric CO2 annually. When the country got hit with the pandemic. The government focused on preventing the virus transmission and forgot about the forest. The situation gave miners and loggers the chance to clear extensive areas of the rainforest. Since 2019, over 55% of the Amazon has been destroyed to create space for cattle grazing. This led to an increase in wildfires, which destroyed about 3,500sq miles of the forest. If the Brazilian government doesn’t take quick and effective climate action, we might lose our primary defense against global warming. The Weakening of Climate Policies The pandemic forced some countries, private companies, and industries in the agroindustry sector to terminate their adoption of renewable energy or climate action policies since their finances got affected by the virus outbreak. A good example is the airlines. Airlines are among the biggest contributors to carbon emissions in the world. However, the coronavirus forced them to shut down, which meant a significant drop in their finances. Because of this, they’re now insisting that the impending carbon taxes for flight within Europe be different. In 2016, the International Civil Aviation Organization (ICAO) and the UN formulated Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) to reduce carbon emissions by planes. CORSIA will go into effect this year. If it gets implemented, airlines will have no otherwise but to improve their international flight fuel economy. Carbon taxes for flight aims to provide the environment a short-term win. As alternative ways to fight carbon emissions get formulated. The COVID-19 pandemic has led to a significant reduction in air pollution, water pollution, and carbon emission, which is a win for the environment. However, the same pandemic has also contributed to the destruction of a beneficial rainforest and increased plastic production (masks, food packages, gloves, etc.). In terms of climate change, the outbreak has had little to no effect on it. The earth is still warming up at an alarming rate. The best way for us to address issues like climate and COVID-19 is for countries to work together. Yes! We already have a vaccine. But this should not mean that we should go back to destroying the environment once again. Countries should work together to combat the looming climate problem to create a healthier world for future generations.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9354566931724548, "language": "en", "url": "https://thebusinessprofessor.com/accounting-taxation-and-reporting-managerial-amp-financial-accounting-amp-reporting/net-cash-flow-defined", "token_count": 1846, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": -0.123046875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:50715b37-3112-4bbf-b61a-22f71549a9fc>" }	Net Cash Flow - Definition If you still have questions or prefer to get help directly from an agent, please submit a request. We’ll get back to you as soon as possible. - Marketing, Advertising, Sales & PR - Accounting, Taxation, and Reporting - Professionalism & Career Development Law, Transactions, & Risk Management Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts - Business Management & Operations - Economics, Finance, & Analytics Back to: ACCOUNTING, TAX, & REPORTING Net Cash Flow Definition Net Cash flow is the difference between the cash inflow and cash outflow of a company in a given period of time. It is useful for measuring the short-term financial viability of a business. If a company continues to maintain the positive net cash flow over the years that indicates the company is financially viable. A Little More on What is Net Cash Flow The net cash flow is recorded in a companys financial statement by deducting the total cash outflow from the total cash inflow. It is the gain or loss of a company over a period of time after all debts are paid. If there is surplus cash after paying all its operating costs, then it is a positive net cash flow and if the company spends more than its earning it is negative net cash flow. A negative net cash flow doesnt mean the company is unable to pay all its obligations, it suggests the companys earning in that specific period is not enough to cover all its operational expenditure in that period. A company can pay for all its obligations while maintaining a negative cash flow. Net cash flow is an effective tool to measure a firms financial strength. However, it is important to analyze the net cash flow properly to get the real picture. Increased profits from sales or decreased obligations are reflected in a positive cash flow. This is a sign of a healthy financial condition of a firm. But it is to be remembered a positive net cash flow is not always an indicator of profitability. Money received from acquiring a loan or a lump sum loan deposit may result in a positive net cash flow but that may not indicate a healthy financial condition of the firm. Similarly, a short-term negative cash flow does not always indicate a weak financial condition. If a company decides to set up a new manufacturing plant, they will have to spend money to build up the plant. That will lead to a negative net cash flow but in future, the company will make a profit from this plant and that will help the company to grow. Net cash flow of a company helps a company to expand its operations, develop new products, pay dividends, buy back shares and reduce debts. Net cash flow is considered to be the most important measure by many business analysts. Investors often try to put their money in such company whose share prices are low, but the net cash flow is high or improving. This means the share price will rise in near future. References for Net Cash Flow Academic Research on Net cash flow A construction projectnet cash flowmodel, Kenley, R., & Wilson, O. D. (1989). Construction Management and Economics,7(1), 3-18. This academic research work suggests a construction project cash flow model which was built upon the logit transformation process. This study, however, records that this model was found to possess an excellent fit of more than 75% of the total data analyzed from the project. The model was found as a useful tool as far as post hoc examination of construction project net cash flows is concerned. This study shows that this model is capable of adapting to any degree of inter-project variability and also flexible enough to be applied to any problem regarding the net cash flow. Stock price reactions as surrogates for thenet cash floweffects of corporate policy decisions, Lanen, W. N., & Thompson, R. (1988).Journal of Accounting and Economics,10(4), 311-334. According to this research paper, a rational market structure was adopted to study the similarity between the resulting price reaction and the cash flow effect of management policy decisions. The main aim of this test is focused on the examining of the cross-sectional association between the underlying properties of the affected firms and the cash flow effects. The result from this test shows that it is not possible to conclude the sign of the association between any property of the firm that is observable before the inception of the announcement of the decision of the management and the reaction of the stock price. Monetary policy and the chaotic structure ofnet cash flowfrom investment-operating and liquidity, Jurez, F., Mesa, F., & Farfn, Y. (2014).WSEAS Transactions on Business and Economics, 405-418. This paper explains the monetary policy as well as the chaotic structure of the net cash flow from the study of liquidity and investment operations. Empirical Research on Accounting Profits andNet Cash Flowof Chinese Public Companies-Analysis Based on Profitability, Yang, D., Wang, F. S., & Du, X. L. (2006). Journal of Modern Accounting and Auditing,2(4), 31-36. This research paper studies the empirical result of the research on accounting profits and the net cash flows of the Chinese republic companies. However, this study also analyses this research based on the level of profitability of these companies. A Conceptual Framework for the Indirect Method of ReportingNet Cash Flowfrom Operating Activities., Wang, T. J. (2010). American Journal of Business Education,3(12), 19-32. According to this research thesis, the main concept of the reconciliation behind the indirect method of the statement of the cash flow was studied. A conceptual scheme was used to show how cash basis and accrual accounting methods related to each other and to also demonstrate the concept of reconciling these two main accounting methods. According to this paper, the conceptual framework sees an additional set of effects as defined in the Accounting Standards Codification 230-10-45-28 and the International Accounting Standards 7.18 (Statement of Financial Accounting Standards No.95) as regards the indirect method which makes the whole process of reconciliation between the cash-basis and the accrual completer and more satisfactory. Motivations for bank mergers and acquisitions: enhancing the deposit insurance put option versus increasing operatingnet cash flow, Benston, G. J., Hunter, W. C., & Wall, L. D. (1992).(No. 92-4). Federal Reserve Bank of Atlanta. According to this research paper, the bid of price for targeted banks in the early to mid-1980s were examined. According to the result from these test, two mains hypothesis were postulated and they were further examined. The first hypothesis is the earning diversification hypothesis while the second is known as the deposit insurance put-option hypothesis. Discussions were made and these hypotheses were both analyzed in this paper. In this paper, an empirical test of a sample of 302 mergers yielded results that are termed as consistent with the earnings diversification hypothesis and relatively inconsistent with the deposit insurance put-option hypothesis. Adjusting Capitalization Rates for the Differences Between Net Income and Net Free Cash Flow, Mercer, Z. C. (1992). Business Valuation Review,11(4), 201-207. This research paper explains the process of adjusting the rate of capitalization for the differences between the net free cash flow and the net income. These two factors were both explained and their differences were stated in this study. The role ofnet cash flowin insurance group s operational management, Kai-long, N., & Biao, J. (2010).Insurance Studies,1, 015. According to this research thesis, the role of the net cash flow in the insurance groups operational management was studied. After-TaxNet Cash FlowMathematical Model, Escobar, J. E. (2009, January). InIIE Annual Conference. Proceedings(p. 162). Institute of Industrial and Systems Engineers (IISE). This research paper studies the after-tax net cash flow by making use of a mathematical model. This model, however, generated an empirical result which was later used in this study to explain the After-tax of the net cash flow. Company Evaluation Using The DiscountedNet Cash FlowMethod, Sichigea, N., & Sichigea, D. F. (2006).Journal of Applied Economic Sciences,1(1 (1) _2006), 61-67. This paper examines the companys evaluation by adopting the use of of the discounted net cash flow method. This evaluation was made possible by first studying the concept of the discounted net cash flow method.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9473731517791748, "language": "en", "url": "https://theconversation.com/want-the-economy-to-grow-its-time-to-look-at-cities-and-efficiency-54517", "token_count": 1176, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.27734375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:51853f5c-4b39-4b14-84b5-249d2a3d6540>" }	The economy is a hot topic in the presidential debates and is among the top public concerns. But the “economy” is a loose and hazy notion and, for politicians, a convenient place to make promises. Even the solutions are pitched at a high level of abstraction. On the Republican side, the common answer is to reduce taxes, which also has the obvious attraction of aiding their donor class, and to cut back on government regulations. On the Democratic side, one response is to increase taxes on the wealthy, with the precise causal mechanism never explained or demonstrated. The reality is rather more daunting and the answers could lie in place few politicians discuss explicity: cities. Given that growth projections are limited, we need to be thinking more about productivity gains. That means we need to make our economy more efficient – generating more economic value with the same inputs. And one way to do this is to improve the productivity of our cities in various ways, including better land use, beefed-up infrastructure and smarter technology. Metro areas in the U.S. now house 83 percent of the population and are the main site for innovation and job growth. The 100 largest metro areas hold 69 percent of all jobs and are responsible for three-quarters of the nation’s GDP. If we are serious about growing our economy, then getting our cities to work better is just as important as tax reform or wage policy. The problem is that cities tend to be discussed in terms of redistributional issues, such as welfare or race relations, but rarely as a platform for addressing the “economy.” Consider just some of the traditional inputs of land, labor and energy. Cities use enormous amounts of energy. So policies about urban energy use and urban transportation are not just urban concerns, they are matters of national economic concern. In other countries, there is a closer connection in political discourse between the economy and the city. In Australia, where close to half of the population lives in the five largest cities, the idea of improving living standards and competitiveness by increasing urban productivity is now part of political discussions. Traditional economics is not much help, as productivity is generally used with reference to individual firms or workers. Rarely is it used to measure the productivity of cities. Even when they do look at cities, economic theorists rarely move on from noting that large cities achieve agglomeration economies through the clustering of activities, labor pooling and knowledge spillovers. This explains an economic rationale for cities but does not help us make cities more productive. How can we do that? Bigger, denser, more productive It turns out that we should be encouraging cities to become bigger and more dense if we want to improve economic performance. Consider transport. There are significant cost savings in increasing the ridership of mass transit systems compared with constructing expensive new systems. Even small-scale policy changes have rolling consequences. Improving traffic light sequencing, for example, reduces travel times, emissions, fuel consumption and road accidents. Meanwhile, encouraging telecommuting, while reducing the benefits of face-to-face contact in real time, generates savings in terms of time and energy costs as well as the wear and tear on commuters slogging their way through traffic. The collective gain is a more efficient city and greater economic productivity. Also, a single government authority in a large city is more efficient than a multiplicity of municipal governments. One study of cities across five countries found that a metro region with many municipal governments, has, on average, six percent lower productivity than a city with one metropolitan authority. Cities are a target-rich environment for improving productivity because they are places where public policies have leverage. Dysfunction at the federal level, likely to halt any ambitious proposals discussed in the presidential elections, does not stop experiments at the city level. And here a combination of nonpartisan federal and local policies can achieve savings. For example, new federal legislation has allowed companies to provide the same level of benefits for mass transit users and carpoolers as it did for parkers. Against this background, city authorities can enable more carpooling by setting aside designated spots for informal carpools. Social issues and big urban data Productivity has a cold-blooded sound to it, as if citizens are imagined just as labor inputs to be trained and moved around to increase efficiencies. But there is a meshing of economic and social concerns. A more efficient land use and transportation system, for example, means people spend less time and money commuting. I was reminded of this when seeing the route map of a low-income worker in Atlanta, Georgia, whose two-hour journey to work involves 118 bus stops and a nine-minute train ride. Can technology makes a difference? We now have lots of data on the flows of energy, people, goods, capital and ideas. While big data on its own does not provide the solution, the intelligent use of these data can provide us with a real-time handle on urban productivity to provide benchmarks of performance and measures of progress. And once urban productivity is measured, it can be improved. Big data could also help improve our infrastructure, which would aid productivity and reduce economic losses. Many bridges need renovation and replacement. But if we use good-quality data on how much repair they need as well as how much traffic they support, we would be in a better position to prioritize our infrastructure funds so that the most dangerous and the most frequented were targeted first. We are still at a very early stage of using big urban data to provide smarter, safer, more efficient and more socially just cities. An important start is that we realize that more of our economic activity takes place in cities and improving urban economic performance is the road to economic growth and social justice.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9532497525215149, "language": "en", "url": "https://www.fatherhood.org/fatherhood/two-supports-lacking-for-us-children-in-poverty", "token_count": 1050, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.33984375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:0d4e0143-1ea1-4743-a333-51a2c6ccda99>" }	This post originally appeared on The Huffington Post. The effects of father absence and the poverty that results from it are exacerbated by two supports lacking in the U.S. -- the lack of extended family and the dismal spending by the federal government on family-benefit programs. I wrote in this blog last week about the link between father absence and child poverty. The U.S. Census Bureau's recent report on income poverty for 2014 reveals that: - Children in father-absent homes experienced poverty at more than four times the rate of children in married-parent homes. - Nearly 1 in 2 children in father-absent homes (46.5 percent) were in poverty compared to only 1 in 10 children (10.6 percent) in married-parent homes. - The picture is worse for the youngest children. More than 1 in 2 children under age six in father-absent homes (55.1 percent) were in poverty. I pointed out that increasing the number of children growing up with their two married parents is key to reducing child poverty in this country. Data provided in the just-released 2015 World Family Map helps explain why U.S. children in particular need to grow up with their married parents. The World Family Map -- an annual report now in its third year -- monitors the global health of families by tracking 16 indicators in 49 countries, representing all regions of the world. Its global focus provides an important perspective on how well, or poorly, the U.S. fares on a range of indicators of family well-being. When it comes to poverty, families can typically turn to any of three sources for financial and material support -- their social network including extended family, non-governmental organizations (e.g. non-profits) and government programs. The level of support available from each source varies dramatically from country to country and even within some countries. It's vital to consider these supports to gain a clearer understanding of the extent of poverty's negative effects on children. The 2015 World Family Map includes data on two of those supports -- the proportion of children who live with extended family members (kin) and government funding of family-benefit programs (i.e. cash, services and tax measures) as a percentage of a country's gross domestic product (GDP). How does the U.S. fare on these two indicators? - The proportion of U.S. children living with kin (29 percent) ranks 5th lowest among the 32 countries for which data are available. Only Canada, France, Italy and Ireland rank lower. - The U.S. government spends a paltry 0.7 percent of GDP on family-benefit programs. That percentage is dead last among the 21 countries for which data are available, and is 36% and 42 percent lower than Mexico and Canada (the other two countries in the North American region), respectively. Extended family is perhaps the oldest form of support for humans struggling to survive. In addition to financial and material support, extended family can provide emotional and spiritual support in times of crisis and chronic hardship. It's easiest to access that support when kin live together -- the basis of this indicator -- or close by. The increasing mobility of U.S. families and the resulting distance between family members makes it harder to access this support. When it comes to government support, the sad fact is the U.S. spends a lower percentage of GDP now than it did just a few years ago when it ranked above several other countries rather than at the bottom of the barrel. According to the 2013 edition of the World Family Map, the U.S. spent 1.2 percent of GDP on family-benefit programs. (The 2015 map relies on data from 2011 while the 2013 map relies on data from 2007.) To be fair, there might be several of the other countries in the World Family Map for which data are not available on either indicator that fare worse than the U.S. So in reality, the picture might not look as bleak for the U.S. in comparison. The access to extended family indicator does not include access to family close by. But even when considering kin who live together, the U.S. has seen a dramatic rise since 1980 in the number of individuals living in multi-generational households, thus giving the poor more of this support. The U.S. is also a fairly charitable nation as it ranks 9th on the World Giving Index, a measure of the percentage of people in 135 countries who donate to charities. There are certainly non-profits to which poor families in the U.S. can turn for help. Nevertheless, the World Family Map reveals the lack of financial and economic assets poor families in the U.S. can access to alleviate at least some of the negative effects of child poverty. A vast majority of individuals in the U.S., more than 8 in 10, are not in multi-generational households. And the government spending data on family-benefit programs, with its downward trend, sheds light on the lack of importance our country places on government help for those most in need.This post originally appeared on The Huffington Post.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9548014998435974, "language": "en", "url": "https://www.insuranceopedia.com/definition/3848/reinstatement-of-policy", "token_count": 651, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.1494140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:546403db-f877-428c-a92a-2764ed4fb3c1>" }	Definition - What does Reinstatement of Policy mean? Reinstatement of policy is the process of restoring an insurance policy back in effect after it has been previously terminated due to various reasons. An insurance policy can be terminated when the insured has missed the premium payment for several months. A policyholder has no legal obligation to make premium payments, but if he or she fails to pay, the insurer has all the rights to terminate the policy. To reinstate or renew the policy, the insurer requires evidence of eligibility and full payment of missed premiums. For life insurance, the insured is also required to submit a current medical examination or medical update. Each insurance company will have its own specific requirements or declaration to reinstate. For a property or liability insurance policy, the insurer might require an insured seeking reinstatement of their policy to sign a declaration of no loss or claim during that gap in coverage. Insuranceopedia explains Reinstatement of Policy Reinstatement of policy occurs when the contract of the insurance is no longer in effect but the insured wishes, for whatever reason, to restart the coverage. Requirements to reinstate a policy vary from one insurance provider to the other. Moreover, the reinstatement process depends on how much time the policy has lapsed as well as the type of insurance policy. Therefore, reinstatement of the policy is not always available or guaranteed. For instance, if an insured fails to make payment on the life insurance premium, the policy enters a grace period (an average of 30 days) wherein the insurance company still pays for the death benefits on valid death claims after deducting the unpaid premiums. After the grace period and the policy owner still fails to make payment, the policy lapses and the insurance company no longer pays for the claim in the event that something bad happens to the insured. Individuals who plan to reinstate their policy should know that the reinstatement of policy is not guaranteed. In the event that the insured developed a major health condition, the insurance company has the right to decline the reinstatement. Before granting the reinstatement, the insurance company will likely ask the insured to complete an application form and provide evidence of eligibility such as getting a new medical exam done. Lapses in general insurance policies can occur due to non-payment of premiums, a material change in risk during the policy term, or due to a high number of claims. After these concerns are addressed, the insured may be able to apply for reinstatement. The reinstatement of policy procedures for a general insurance policy (ie. for property or various forms of liability insurance) are similar. There may be an application form that needs to be completed and usually a signed declaration from the insured that they are unaware of any actual or potential losses or claims that took place during the gap in coverage. Any claims originating during this gap in coverage - whether reported or not - would not be covered. How Well Do You Know Your Life Insurance? The more you know about life insurance, the better prepared you are to find the best coverage for you. Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9044985771179199, "language": "en", "url": "https://www.mycccu.com/smartmoneyblog/how-to-write-a-check/", "token_count": 749, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.004547119140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:6ceb53b7-6abb-46aa-bc41-c6c6f289417b>" }	You might prefer to use electronic payment options, but paper checks are still important. According to the Federal Reserve’s 2013 study, 18.3 billion checks are written every year. Another study by market research firm New Heights Research showed that over half of all landlords only accept paper checks. Since they’re less common these days, it can be confusing to know how to write out a paper check properly. We’ve put this quick guide together to help. Your Check, Explained: 1. Name: Your name and address are always printed here. Your bank’s name and address are always printed under the written amount line (below number 7 in the illustration above). 2. Check Number: The number of the check (important to know for tracking your checks and balancing bank statements). 3. Fraction Code: A code that identifies your bank and the place it should send checks for processing. You’ll rarely use this number for anything. 4. Date: Here’s where you fill in the date you are writing the check. 5. Payee Name: The name of the person or company who gets the money goes here. 6. Number Amount: Write the amount of money the check is for here, in numbers. Use a line to fill in any unused part of the box. 7. Written Amount: Write the amount of money the check is for here, in words. Use a line to fill in any unused space. Make sure your numbers are written closely together to prevent fraud. Make sure you write “hundred” or “thousand” rather than “hundreds” or “thousands,” as the extra letter “s” may cause your check to be rejected. Your written amount must match the number amount in item number 6 above. 8. Memo line: This part is optional, but you should write down the purpose of this check in case there are any questions later. 9. Signature: Be sure to sign your check with your name exactly as it’s printed on your check. Never sign your check before all of the other fields are filled in. This will help prevent fraud. 10. Routing number & account number: The first group of numbers is a “routing number,” which is a code specific to your bank. The second group of numbers is your account number. There may be a third group of numbers, which represents the number of your check (as in item number 2 above). You may be asked to provide your checking account number and your bank’s routing number when making online payments using your checking account (sometimes called an “e-check”). Never give out your account number unless you’re on a secure website (look for “https:” instead of “http:,” as well as a lock symbol, in the web address). Also, never give out your account number if you are on a public WiFi network that isn’t secure. Knowing how to write a paper check is still a very useful skill, particularly when paying rent or dealing with merchants who don’t accept credit or debit cards. Explore the “checking” part of your checking account with these simple rules. Then, you’ll always be ready to fill out a check whenever the occasion requires it. This article should not be considered legal, tax, or financial advice. You may wish to consult a tax or financial advisor about your individual financial situation. This article was updated 12/12/16 to edit images.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9645327925682068, "language": "en", "url": "https://www.oliverelliot.co.uk/insolvency-guides-and-information/are-shareholders-liable-for-company-debts/", "token_count": 1903, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.271484375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:bcb2ce5a-f8a9-4dbd-b9f3-be118da6525f>" }	Shareholders are not liable for company debts unless they have provided personal guarantees. Why Are Shareholders Not Liable For Company Debts? Shareholders are not liable for company debts because a company is a separate legal person from its directors and shareholders. What Is A Company? A limited liability company is a form of business structure. It is separate from its owners and directors. The owners are otherwise known as the shareholders. Why Do People Set Up Companies? The reason people set up companies is that a company provides protection known as limited liability. In addition, people set up limited companies because there may be tax benefits associated with them. For example, it is quite common in the case of owner-managed businesses for a limited company to be used as the trading structure and in doing so the company is liable for corporation tax. The rate of corporation tax is currently 19% and following the budget in March 2021, it will increase to 25% from 2023. However, that is significantly lower than the top rate of income tax. Another tax benefit from setting up a limited company is when the owners extract dividends from the company they can potentially make savings in relation to National Insurance Contributions. If you want to set up a limited liability company you can do so at Companies House. What Is Limited Liability? Limited liability is the concept that applies to companies and it means that because a company is a separate legal entity or separate legal person from the owners and the directors that run it, nevertheless the debts that the company incurs as a result of its trading and other activities are the sole and exclusive responsibility of the company, not of the owners or the directors. This is potentially one of the most important reasons and motivations behind setting up a limited liability company. What Types Of Limited Liability Company Exist? There are two types of limited liability company. A company limited by shares and a company limited by guarantee. Company Limited By Shares A company limited by shares may give the shareholders certain rights in relation to the operation of the company but not in relation to its day-to-day management which will be dealt with by the directors. This is by far the most common structure for a limited company. The main influence that the shareholders may have is the entitlement to vote in relation to any changes concerning the structure of the limited company. Each shareholder will be provided with a holding that determines what the rights are under its shares, particularly with reference to entitlement to dividends or otherwise entitled to the company’s capital on a winding-up or otherwise Some shareholders will have voting rights and therefore the empowered to influence and vote on any changes concerning the company’s structure and constitution. It is also possible for shareholders to have no voting rights and simply be restricted to having dividend rights at the discretion of the board of directors. Shareholders usually will only be liable to the company in relation to the payment of their shares. Once the shares are fully paid up then ordinarily a shareholder will have no other liability in relation to the company. Companies Limited By Guarantee You must have at least one guarantor and a ‘guaranteed amount’. Guarantors are company members. They control the company and make important decisions but they do not usually take any profits from the company. Instead, the money is kept within the company or used for other purposes. The guaranteed amount is the guarantor’s promise of an agreed amount of money to the company if it cannot pay its debts. They must pay the company the full amount of their guarantee. This payment covers guarantors for situations such as the company being closed down. The guaranteed amount is not linked to how much the company is worth. Circumstances In Which Shareholders Could Be Liable For Company Debts The answer to the question is yes there are circumstances in which a shareholder could be liable for a company’s debts or for some of them. Personal Guarantee Shareholder Liability The most common situation in which this can arise is when an individual shareholder has provided a personal guarantee which has enabled the company to obtain credit from a supplier of finance, such as from a bank to enable the company to trade. In the event that the company defaults on its obligations and its liability in relation to such a debt, then the party that is owed money by the company can make a call upon the personal guarantee. They can insist that the shareholder personally discharges the liability on behalf of the company. In doing so the shareholder having carried this out on behalf of the company in satisfying a company debt or company liability can claim against the company. In the event that the company is able to subsequently pay, it can at that point legitimately satisfy the shareholder concerned. Shareholder Liability Arising From Misconduct Although shareholder misconduct is not something that exclusively relates to companies that have gone into liquidation it is probably the most common instance in which shareholders are ultimately liable for company debts. This typically will arise when a Liquidator has been appointed in either a Creditors Voluntary Liquidation and Compulsory Liquidation and investigates the conduct of the directors and the shareholders in respect of the running of the company and the circumstances giving rise to the company’s demise such that it entered insolvent liquidation. It is much less common for misconduct to be discovered in a solvent Liquidation, known as a Members Voluntary Liquidation. Having undertaken investigations if the Liquidator discovers director and shareholder misconduct, he or she can then potentially bring legal proceedings for the purposes of obtaining compensation from these directors and shareholders personally for the benefit of the company and its creditors. Examples of scenarios where shareholder liability can arise are detailed below. Breach Of Duty In small owner-managed businesses that operate through the structure of a limited liability company, it is the norm for the owners or the shareholders of the company and the directors to be the same people. As a result, if the directors engage in conduct that gives rise to some liability when they breach their duty to the company, then in effect the results of that means that the shareholders have become liable as well. Transaction At Undervalue Typical examples of shareholder directors acting incorrectly and in breach of their duty will be when engaged in conduct that causes the company to suffer an avoidable loss and acting to its detriment, instead of acting in its best interests. One specific example of such conduct might be selling assets for less than their true value to connected parties, thereby potentially enabling the shareholders to personally benefit from such a transaction at the expense of the company. Unlawful Dividends And Overdrawn Loan Accounts Another example would be if the shareholders of a company received unlawful dividends. If they were the same person as the directors they are taken to have known that the dividends were unlawful and would typically be liable to repay them. The same sort of position can arise from an overdrawn director’s loan account that a director / shareholder would be liable to repay to the company. This is in essence no different from being overdrawn at the bank except in this instance the debt or liability is to the company instead. Obtaining credit by deception and fraud to enable the company to continue trading is another example in which shareholders can clearly be liable for company debts. There are many different examples of how company directors may act in an impermissible manner and obtain credit inappropriately. One such egregious situation might be what is known as fresh air invoicing. Fresh Air Invoicing Shareholder Liability When a company has a factoring facility, the finance company will provide potentially up to 80% of the value of an invoice that the company raises. This is to ease the company’s cash flow requirements. Then upon receipt of payment from the customer the factoring company will commonly pay the residual 20% less any factoring charges. It has been known for company directors to issue invoices in relation to goods and services that were not provided and as a result, obtain the benefits of credit and finance facilities to which it was not entitled. This is essentially fraudulent invoicing, otherwise known as fresh air invoicing. In such circumstances in the case of a small owner-managed company where the shareholders and directors of the same person, fresh air invoicing upon discovery, in all likelihood would lead to certain director shareholders to be personally liable to the factoring company. Can Shareholders Be Liable For company Debts When There Is No Misconduct? In the event that there is no misconduct by the shareholder directors that might be discoverable by a company’s Liquidator, then it is unlikely that there would be circumstances other than a call upon a personal guarantee, which would give rise to shareholder liability. What Next? Expert Advice Is Just A Click Away If you have any questions in relation to Are Shareholders Liable For Company Debts? then Contact Us as soon as possible for advice. Our expertise is at your fingertips. Disclaimer: Are Shareholders Liable For Company Debts? This page: Are Shareholders Liable For Company Debts? is not legal advice and should not be relied upon as such. This article Are Shareholders Liable For Company Debts? is provided for information purposes only. You can Contact Us on the specific facts of your case to obtain relevant advice via a Free Initial Consultation.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9407969117164612, "language": "en", "url": "https://www.omnicalculator.com/finance/time-value-of-money", "token_count": 920, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.08837890625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:7cfb13b7-7108-4179-8c85-53c29dbddd73>" }	Time Value of Money Calculator The time value of money calculator (TVM) is a simple tool that helps you to find out the future value of a current amount of money. Alternatively, you can use this TVM calculator to compute the present value of money to be received in the future. If you read further, you can learn what is the time value of money definition as well as the time value of money formula, to use with your own computations. Time value of money definition - what is time value of money (TVM) The concept of the time value of money is simple: money that you receive now is worth more than the same amount of money in the future since today's money can earn interest between now and then. You may phrase the time value of money definition more formally; that money obtained at present has a greater advantage over the identical sum in the future due to its potential earning capacity. You can find the concept of time value analysis behind many financial products, including retirement planning, loan payment schedules, and investment decisions. Undoubtedly, among all concepts applied in finance, the most relevant one is the time value of money (TVM), also called discounted cash flow (DCF) analysis. To visualize the problem, let's take a simple example and illustrate it on a timeline. Let's assume you receive $100 today, and you would like to know what this money will be worth in three years. The intervals from 0 to 1, 1 to 2, and 2 to 3 are periods, in our case years. Time 0 is the present, and it is the beginning of Period 1; Time 1 is one year from now, and it is both the end of the Period 1 and the beginning of the Period 2; and so on. The interest rate is 5% (at all intervals); a single cash flow, $100, is invested at Time 0; and the Time 3 value is what we would like to know. In the following section, you can learn what formula you would need to apply to compute the value in question and how to use our time value of money calculator. Time value of money formula - how to use this TVM calculator? Now that you are familiar with the concept of time value, let's see how you can utilize time value of money calculator to define the future value of present money or the present value of money received in the future. Before all of that, let's check what parameters you can set during the computation. Present value (PV) is the present value of the future money. Future value (FV) is the future value of the present amount. Interest rate (i) is the annual nominal interest rate per period in percent. Term (t) constitutes the lifespan between the present (Time 0) and the future time we are calculating to (Time x), converted into years. Compounding frequency (n) refers to the number of times compounding occurs per period. You can choose the frequency as continuous as well, which is theoretically the maximum compounding frequency. In this case, the number of periods when compounding applies is an infinite number. This calculator works in such a way that you can input your known values and you will receive the value you want. It's that simple! Finally, the time value of money formulas employed during the computation are the following: FV = (PV * (1 + (i / n)) ^ (n * t)) PV = (FV / (1 + (i / n)) ^ (n * t)) In the case of continuous compounding, the below equations are used: FV = PV * e ^ (i * t) PV = FV / e ^ (i * t) e stands for the exponential constant, which is approximately 2.718. Now, we can easily estimate the future value of $100 from the previously mentioned simple example. PV = 100$ t = 3 i = 5% n = 1 FV = (100 * (1 + (5 / 1)) ^ (1 * 3)) = 115.76 Thus, $100 in your pocket now would worth $115.76 three years later if a 5 percent interest rate is applied and compounding occurs yearly. - Eugene F. Brigham and Michael C. Ehrhardt: Financial Management - Theory & Practice (15e) - 2017, Cengage Learning
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9650323987007141, "language": "en", "url": "https://www.pakdigitalmidia.com/2021/03/21/all-you-need-to-know-about-bitcoin-halving/", "token_count": 775, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1904296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:2929ef0b-a297-4cfa-bee0-92df8ecf1f07>" }	Bitcoin halving might be a new term for you, especially if cryptocurrency interests you. It is not rocket science but simply refers to a process in which the bitcoin is cut into half as compared to its current price at the time of halving. The process takes place after the mining of around 210,000 bitcoins from the time it is released, which is approximately every four years. The obtained bitcoin value is basically the block reward that is offered to the bitcoin miners on dedicating their time, energy, and skills to mine bitcoin. However, it is not as simple as it may sound but requires sufficient money, energy, and time to deal with the technical hardware and solve complex questions of the computer. The basic idea about bitcoin halving is to keep the miners motivated to mine bitcoin by giving them a small share of the money the users profit from. However, it was introduced to halt the supply of bitcoin for some time and circulates them to calculate the mining fees of each bitcoin. Such as the 21 million bitcoin present today if it goes into halving anytime will have the value distributed into 4 halves for the easy calculation of the money given to its respective miner. To date, there are 18,361,438 already in the process and around 2,638,562 whose mining value is not found. To know further about predictions of the next bitcoin halving in May 2020, you may visit Oil Profit official website and give your opinion if halving is a profitable decision or not. With that said, here is more information that will help you know all about bitcoin halving and how it has impacted the bitcoin value in recent years. - The first-ever bitcoin halving occurred right when the prices of bitcoin were skyrocketing – at the end of November 2012. The complete halving took 513 days to achieve a stable price value from $12 to $1,150 when the market capitalization at that time was $270.94. At the first half, Bitcoin experienced a series of declines that happened as 2.5, 12.5 to final 6.25 per block. As a result, the final market price of bitcoin got a whopping raise regardless of its scarcity which is why it was cut into four halves. - At the time of the second bitcoin halving, this trillion-dollar crypto already had the value of $650 in July 2016. The halving brought a massive surge in the price of $2000 which was certainly a remarkable achievement obtained from bitcoin halving. It took comparatively more time which was 1068 days that made it to 51 weeks for the bitcoin to be under the halving process at a market capitalization of $20,074. All the halving fulfilled the main objective, which was to minimize the inflation rate, lower the available supply rate, increase the bitcoin demand, and price to make the first largest crypto a widely recognizable asset used today. However, both halving’s proved to be a successful decision to spike the bitcoin prices from their lowest. It is also used to determine the number of bitcoin tokens that are estimated to be found in each block of the blockchain technology through which bitcoin runs. At the time of the Bitcoin launch, Satoshi stated the presence of 50 BTC in one block that was reduced to 6.25 BTC due to bitcoin halving. The reason for the halving every four years was due to the set bitcoin algorithm that depicts the creation of every new bitcoin block every 10 minutes. This fixed time interval for the 210,000 bitcoins makes it approximately four years which makes the ideal time for bitcoin halving. However, the ten minutes decided for Bitcoin halving only depict the situation when a small set of bitcoin miners with normal power on ordinary systems try to mine bitcoin and can be decreased if these factors change into more smart and technical ones.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9489532113075256, "language": "en", "url": "http://capreform.eu/accounting-for-the-lulucf-sector-in-the-eus-2030-climate-targets/", "token_count": 4130, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.0242919921875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:fbb7025a-a7c4-4f88-977e-7366f19f39f0>" }	The land use, land use change and forestry (LULUCF) sector is assigned an important role in both global and EU climate policy because it is an important store of carbon (around four times as much carbon is stored in soils and biomass including forests as in the atmosphere itself (Lal, 2004) and it is, to date, the only sector with the large-scale potential to sequester carbon from the atmosphere. The Paris Agreement highlights the potential contribution of the LULUCF sector by setting an objective to achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century in order to meet its overall goal of holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels. Under the EU’s climate regime to 2020, the LULUCF sector does not count towards the EU’s domestic 20-20-20 targets. However, it is counted towards determining whether the EU is meeting its targets under the Kyoto Protocol’s second commitment period 2013-2020. In October 2014 the European Council conclusions on the climate and energy framework for 2030 stated that “Policy on how to include Land Use, Land Use Change and Forestry into the 2030 greenhouse gas mitigation framework will be established as soon as technical conditions allow and in any case before 2020.” Subsequently, the Council and Parliament have agreed on various pieces of legislation which set the framework for how emissions from the LULUCF sector will be measured and monitored and the role they will play in meeting the EU’s 2030 targets. The main pieces of legislation include Regulation 2018/841 on the inclusion of greenhouse gas emissions and removals from land use, land use change and forestry in the 2030 climate and energy framework (the “LULUCF Regulation”) and Regulation 2018/842 on binding annual greenhouse gas emission reductions by Member States from 2021 to 2030 (the “Effort-Sharing Regulation”). The LULUCF sector is also covered by Regulation 2018/1999 on the Governance of the Energy Union and Climate Action (the “Governance Regulation”) which sets out a requirement for Member States to develop long-term strategies with a perspective of at least 30 years contributing to the fulfilment of Member States’ commitments under the United National Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. I had previously written about the options for including the LULUCF sector in the EU’s climate regime for 2030 back in 2015. Clearly, a lot has changed since then. This post summarises the current state of play following these legislative decisions. The treatment of the LULUCF sector has important policy implications for the interpretation of the EU’s long-term strategy towards net-zero emissions, for the ability of Member States to use LULUCF credits towards meeting their national emission reduction targets in the sectors not covered by the Emissions Trading Scheme and vice versa, and for the EU’s ability to meet its renewable energy targets from domestic biomass. I plan to look at these policy issues in later posts. The crucial distinction between reported and accounted LULUCF emissions In preparing inventories of greenhouse gas (GHG) emissions and removals for submission to the UNFCCC, countries are asked to report on anthropogenic emissions and removals, meaning emissions and removals that are the result of human activities. In the LULUCF sector, emissions and removals on managed land are taken as a proxy for anthropogenic emissions and removals. Thus, UNFCCC reporting covers all emissions by sources and removals by sinks from managed lands, considered to be anthropogenic, while emissions and removals for unmanaged lands are not reported. This approach was decided in the absence of a practicable methodology that would factor out direct human-induced effects from indirect human-induced and natural effects for any broad range of LULUCF activities and circumstances. However, when it came to setting targets in the Kyoto Protocol, it was decided that only some of these emissions and removals should be accounted with respect to commitments. The accounting is done through policy agreed accounting rules, which filter the reported estimates with the aim to better quantify the results of mitigation actions. The LULUCF accounting produces ‘debits’ or ‘credits’ (i.e. extra emissions or extra emission reductions, respectively) that count toward the target. Through the debit and credit system, the aim is to provide incentives for beneficial actions and policies, or disincentives for detrimental actions, by excluding changes in carbon stocks due to actions prior to the start of the compliance period. For example, some countries claimed that an unavoidable declining sink (e.g. due to ageing forests) should not be treated as a debit as long as sustainable management is ensured. The accounting rules are intended to remove the legacy effects of past management decisions to better measure the results of actions that countries take either to reduce emissions or safeguard sinks on managed land. Policy based accounting rules can take various forms in attempting to capture mitigation efforts relative to some counterfactual or base value: - Gross-net accounting means accounting for the actual (gross) reported emissions or removals from a specific land use category. LULUCF debits and credits are equal to reported emissions and removals in the UNFCCC inventories. Here the counterfactual value is set at zero. - Net-net accounting is where debits and credits are calculated relative to a counterfactual value set as the emissions of a base year. Debits are incurred when net emissions increase relative to the base period, while credits are gained if net emissions decrease. In contrast to gross-net accounting, it is only the change in emissions/removals that counts. - Reference level accounting is a special form of net-net accounting where actual emissions and removals in a given year are compared against a projected reference level. This distinction between reported emissions (recorded in the UNFCCC inventory submissions) and accounted emissions (used for the purpose of determining compliance with a target) is central to understanding discussions of the significance of LULUCF emissions in the EU and how they are treated in the climate regime. When looking at LULUCF time series, it is vital first to check whether the series refers to emissions/removals (reported emissions) or debits/credits (accounted emissions). Its complicated! LULUCF accounting rules in the 2021-2030 period The policy agreed accounting rules evolved through the first and second commitment periods of the Kyoto Protocol (see this UNFCCC web page) and have been further revised in the EU’s 2018 LULUCF Regulation. The key elements that will apply in the 2021-2030 period are as follows: - Six accounting categories are included in the agreed approach: afforested land, deforested land, managed cropland, managed grassland, managed forest land and managed wetland. Harvested wood products are taken into account both in the afforestation and managed forest land categories. Unlike under the Kyoto Protocol, the accounting categories are now aligned with UNFCCC reporting for land use categories and the conversion between land use categories. Deforested land (land converted from forest to other uses) is not directly reported in the UNFCCC inventories (it is reported in the land use category to which the land is transferred) but is required to be separately accounted under the LULUCF Regulation. - All categories except managed wetland are mandatory to include in the accounts. Wetlands are to be included from 2026. - A 20 years conversion period should be used for land use changes. An exception is the afforested land category, for which a 30 years conversion period can be used if duly justified based on the IPCC Guidelines. - Two commitment periods are distinguished, 2021 to 2025 and 2026 to 2030. This means that LULUCF accounting is in principle not based on annual but on multi-year accounts. - Emissions and removals from afforested and deforested lands are accounted in full (gross-net accounting). - Emissions and removals from managed cropland, grassland and wetland are compared in each five-year commitment period to net emissions and removals in a base period defined as 2005 to 2009 (net-net accounting). - Emissions and removals from managed forest land are compared to a forest reference level (FRL). FRLs should be based on the continuation of sustainable forest management practice, as documented in the period from 2000 to 2009 with regard to dynamic age-related forest characteristics in national forests. In addition, FRLs should take account of the future impact of dynamic age-related forest characteristics in order not to unduly constrain forest management intensity as a core element of sustainable forest management practice, with the aim of maintaining or strengthening long-term carbon sinks. - Certain emissions resulting from natural disturbances can be excluded from the accounts for afforestation and managed forest land (but not from agricultural soils). Only emissions resulting from natural disturbances exceeding the average emissions caused by natural disturbances in the period 2001-2020 can be excluded from the accounts. LULUCF commitments in the 2021-2030 period The principal commitment for the Member States is to ensure that the LULUCF sector shall not create debits in either of the two commitment periods 2021-2025 and 2026-2030 (‘no-debit rule’ set out in Article 4 of the LULUCF Regulation). However, there are various flexibilities in the way credits and debits can be combined to demonstrate compliance with this commitment, as well as linkages between the accounted outcome under the LULUCF Regulation and emissions reduction targets under the Effort-Sharing Regulation. - Intra-LULUCF flexibility. Debits incurred in one land use can be offset by credits obtained in another land use in assessing compliance with the no-debit rule. The only exception is that there is a cap on potential credits from managed forest land that can be used in this way. The net removals from managed forest land entered into the accounts cannot exceed 3.5% of the emissions of that Member State in its base year multiplied by five. Net removals due to dead wood and harvested wood products are not included under this cap. - Banking flexibility. A Member State with credits in the first commitment period can transfer these credits to the second commitment period. - Intra-MS flexibility. Member States with credits can transfer these credits to another Member State. - Managed forest land flexibility. If a Member State has a debit summed over all land use categories in a commitment period, it can make use of a compensation mechanism in the managed forest land category under specified conditions. These are that the Union as a whole cannot be in net debit and that the Member State has undertaken specific measures to conserve or enhance forest sinks. The mechanism allows Member States to reduce their debits by individual amounts set out in an Annex to the LULUCF Regulation. An additional compensation allowance is made available to Finland of 10 million tonnes of CO2 equivalent emissions on top of the 44.1 million tonnes it was granted under the standard allowance. There is a two-way linkage between net debits/credits under the LULUCF Regulation and a Member State’s emissions targets under the Effort Sharing Regulation (ESR). - A LULUCF credit position can be partially used to offset emissions under the ESR, up to a maximum of 280 million tonnes CO2 equivalent for the EU as a whole over the period 2021-2030 (this number will be reduced by 17.8 million tonnes when the UK leaves the Union). The purpose of this flexibility is to acknowledge the lower mitigation potential of the agriculture sector covered by the ESR. The flexibility is distributed among Member States related to the significance of agricultural emissions in their total ESR emissions. In calculating the LULUCF credit position for the purpose of this offset, currently the credit/debit position of managed forest land is not included. However, when the Commission adopts delegated acts to update the forest reference levels (see below), it is empowered to adopt a delegated act to include net removals from the accounting category managed forest land and, eventually, managed wetlands, into the flexibilities (Art 7 of the ESR Regulation). These credits can be used towards compliance where a Member State’s emissions in the ESR sectors exceed its annual target in any year over the 2021-2030 period. Given that the LULUCF accounting will be done on five-yearly intervals, it is not clear to me how this credit offset system will work with annual ESR targets. - A LULUCF debit position must be accounted towards the ESR target of a Member State. If a Member State after making use of the LULUCF flexibilities has a debit position in either commitment period, that debit amount will be deducted from its ESR annual emission allocations for the relevant years (although the preamble refers to this as a voluntary option for Member States, the text of the ESR Regulation makes clear there will be nothing voluntary about it). This will tighten its ESR targets and require greater emissions reductions from the ESR sectors to meet these tighter targets (Art 12 of the ESR Regulation). Establishing the Forest Reference Levels (FRLs) Setting the FRLs for each Member State is a necessary step to allow for the calculation of credits or debits from managed forest land during the two commitment periods. As noted, the justification for this approach is to provide a baseline to show how the forest would develop if no changes to policies or practices were put in place (i.e. the counterfactual value). If the forests had a relatively large share of trees in a certain age class, the total harvest would fluctuate over time purely because there are different amounts of trees reaching the harvest age. The use of a FRL attempts to capture only the impacts of changes in forest management practices, relative to practices under a historical reference period, and to eliminate the differences that result purely from age-related dynamics and other ‘exogenous’ developments in the forest stock. The reference level approach was introduced in the second commitment period of the Kyoto Protocol (2013-2020). The way in which reference levels (then called Forest Management Reference Levels, FMRLs) were calculated by Member States at that time did much to bring the whole reference level approach into disrepute. Member States made different assumptions in calculating their FMRLs, and they took into account planned policy changes as well as historical practices. This led to very generous reference levels which has resulted in a flood of ‘credits’ when actual removals turned out to be much less than projected in the FMRLs. The Commission was determined that the FRLs for the two commitment periods between 2021-2030 would be developed in a more robust manner. It was not only concerned to avoid the generation of unwarranted removal units. It was also concerned with the environmental credibility of the accounting conventions for biomass used for renewable energy purposes. Under Kyoto Protocol rules (carried over into EU legislation) the combustion of biomass counts as zero in the energy sector while the resulting carbon stock changes are accounted as emissions in the LULUCF sector. This avoids double counting of emissions. But in the EU’s 2020 climate regime debits/credits in the LULUCF sector are not taken into account. Even if they were accounted for, as will be the case from 2021 onwards, if the accounting rules for managed forest land do not fully reflect removals of biomass for renewable energy, the accounts become leaky and the framework becomes unbalanced (Commission LULUCF Regulation Impact Assessment). The outcome wanted is that the FRLs would generate close to zero removal units/debits in the absence of significant change in the forest harvest practices (unless such change is justified by the age-class structure and other national forest characteristics). The LULUCF Regulation tries to do this by specifying more clearly how the FRLs should be determined solely on the basis of historical practices. Parameters defining the forest management practice (e.g. rotation lengths, rates of harvest in ‘thinnings’ and ‘final cuts’, for a given forest species, etc.) during the reference period should be documented and be kept constant in the projection. Assumed future impact of policies or market development are not to be included in the estimation of the FRL. At the same time, the projected FRL should be consistent with ‘the aim of maintaining or strengthening long-term carbon sinks’. The Commission prepared a set of detailed guidelines on interpreting the criteria set out in the Regulation for preparing the national forest accounting plans including the forest reference level to assist Member States. This was not a binding document and it was at the discretion of each Member State to use or not use the document when establishing their national FRL and accounting plan. The LULUCF Regulation also put in place a governance mechanism designed to challenge and test the assumptions behind the modelling of the FRLs undertaken by the Member States. Member States were required to submit their national forestry accounting plans, including a proposed FRL, to the Commission by 31 December 2018 for the period from 2021 to 2025 (and by 30 June 2023 for the period from 2026 to 2030). The Commission, in consultation with experts appointed by the Member States, would then undertake a technical assessment of the national forestry accounting plan during 2019, also consulting stakeholders and civil society and the results of the technical assessment would be published. Subject to the technical assessment and any subsequent revisions, the FRL for 2021 to 2025 would then be adopted by delegated act by 31st October 2020. The following diagram illustrates the procedure set out in the Regulation. Timeline for preparation of Forest Reference Levels (FRLs) in National Forest Action Plans (NFAPs) Following this process, the Commission established an expert group including representatives from Member States, technical specialists, NGOs and research organisations, representatives of Norway, Iceland and the EFTA Surveillance Authority, and observers from various interested stakeholder groups to assess the plans. Following meetings in Brussels on 6 February and during 1 April to 12 April 2019, the expert group adopted its synthesis report conclusions on the national plans. The synthesis reports highlighted areas where the transparency and accuracy of the assumptions behind the FRLs might be improved, but the changes sought are relatively minor and the accounting plans and FRLs seem to be broadly consistent with the spirit of the Regulation. The Commission’s own assessment concluded that “The resulting technical recommendations … reflect the generally high quality of the submitted plans while pointing to some country-specific approaches that will require further careful analysis”. The technical assessment process and the conclusions of the expert group served as a basis for the technical recommendations for improving the national plans which were made by the Commission earlier this month. Member States must now submit their revised forest reference levels based on the synthesis report conclusions and technical recommendations by 31 December 2019. The Commission will then publish the FRLs in a delegated act before 31 October 2020, and will at the same make a determination whether credits from managed forest land can count towards offsets in the ESR sector. In summary, the rules for accounting for LULUCF debits and credits in the 2021-2030 period are now in place. Once the FRLs are finally established for the first commitment period, Member States will be better able to evaluate the policy implications of the ‘no-debit’ target they have to meet. These policy implications will be the subject of later posts. This post was written by Alan Matthews Picture credit: Pxhere under a Creative commons licence
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9560544490814209, "language": "en", "url": "https://bdtechtalks.com/2017/12/11/how-blockchain-will-democratize-the-real-estate-industry/", "token_count": 966, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.498046875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:687e0b0b-5594-45a2-b89f-35401ce67172>" }	Presently, depending on where you live, you have to overcome different legal, financial and cultural hurdles if you want to invest in real estate in your locality. If you want to buy land or property in some other country, the odds are even greater. However, Michael Arrington, the founder of famous tech publication TechCrunch, recently purchased a flat in Ukraine without setting foot in the country, signing a single piece of paper, or meeting with local authorities. What made the transaction possible was blockchain, the distributed ledger that made its fame with bitcoin. As it has proven in other industries, blockchain can transform the real estate market and make it more transparent, affordable and reachable to everyone. How blockchain can solve the problems of real estate ownership Traditionally, we rely on trusted third parties to register and transfer the ownership of land and real estate property. In the U.S., the task is given to local courthouses and city halls. In the UK, it’s the Land Registry, a government-owned body. In less developed countries, tribal leaders define how land is distributed among citizens. This model poses several problems. Documents are often non digitized, hard to reach, even harder to update, and sometimes lost in time. In some cases documents don’t even exist and agreements are made verbally between tribal leaders. If one of them decides to take back their word, there’s no evidence to prove them wrong. Even in documented systems, if someone destroys or tampers with a land claim, there’s no way to prove them wrong. Blockchain solves this problem with transparency and public knowledge. Every record stored on the blockchain (i.e. a parcel of land being transferred from one party to another) is validated and replicated on thousands of computers. Once a the ownership of an asset is confirmed and stored on the blockchain, no one can deny its existence. Neither can they change it because they would have to change the records across all the network, which is virtually impossible. Meanwhile, mathematical equations and cryptography make sure that the sequence of records can’t be changed either. Ownership of blockchain assets is tied to encryption keys. Only the person holding the private key to a blockchain address will be able to transfer its assets to another person. This model obviates the need for a central authority or third-party broker. That’s why Arrington was able to buy the Ukraine flat from the comfort of his home in the U.S. He used Propy, a blockchain platform for buying and selling real estate property. He sent $60,000 worth of ethereum (ETH) to a smart contract, and in exchange, the token representing the flat was transferred to his address. Innovating real estate investment with blockchain Beyond ownership, blockchain also makes it much easier to invest in real estate. Currently, you either have to be so rich that you could buy an entire property, or you have to invest through real estate investment trusts (REITs), organizations that operate like mutual funds for real estate. But REITs have their own rules, are mostly non-transparent, and will take their own huge cut from your revenue. In contrast, blockchain enables the tokenization of property. This is the idea that Bitproperty, a blockchain startup, is exploring. The proposition is simple. With Bitproperty, you break down a real estate property (or part of it) into a number of digital tokens, each representing an equal fraction of the property’s value. Property tokens can be bought or sold on the blockchain like any other cryptocurrency, in a secure, peer-to-peer fashion. With tokens, it becomes possible to make partial investments in real estate without the need to rely on an REIT. This opens up the market to a larger number of investors. Moreover, smart contracts will automatically distribute and transfer any dividends earned from property investments. For instance, if 20 people have purchased the tokens of an apartment building, they will automatically receive the revenue generated from renting the property, based on the amount of tokens they hold. Another benefit of investment platforms such as Bitproperty is the possibilities to fund construction projects. In the past year, initial coin offerings (ICOs), a funding mechanism based on the blockchain, helped startups raise billions of dollars for their projects. Bitproperty helps construction project managers to use a similar method to fund their projects. Instead of going after large investors, project managers can crowdfund their projects by listing them on Bitproperty and issuing and selling tokens on the blockchain. With these innovations, blockchain presents the opportunity to democratize the real estate industry, a market that has a lot of potential but has previously been available to a limited audience.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9272036552429199, "language": "en", "url": "https://blog.mar-bal.com/blog/renewable-energy-and-composite-materials-are-a-perfect-match", "token_count": 676, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.0225830078125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:e78ed811-9e42-4560-94b0-1b5803ce16af>" }	The world is calling for a greater focus on renewable energy. Manufacturers are answering that call and turning their focus to product innovation that supports the renewables industry by ensuring their products are more cost-efficient and effective. One of the biggest shifts in the industry has been a move to composite molding. It enables low-cost production, improves product durability, and imbues renewable products with much-needed features to help them succeed on the market. In fact, the growing renewables industry is one of the core drivers of the composite molding sector of manufacturing. The market for wind turbine composite materials alone could reach a valuation of more than $12 billion by 2023! The two correlate for good reason. Renewables stand to benefit tremendously from composite molding, and this new demand will drive composites more into focus as a manufacturing staple. Why composite materials? There’s inherent value in composite materials across the diverse scope of renewable energy applications. Namely, solar and wind power operations. The history of solar panel design is rife with peaks and valleys; however, we’ve entered a plateau. Photoelectric cell technology has largely stagnated. It’s a prime example of technology waiting on future innovations before it can move forward again. Plug-and-play solar has made panels widely accessible to consumers, driving demand. This, in turn, drives innovations in other areas — specifically in panel design. Traditional panels are made of glass and ethylene tetrafluoroethylene (ETFE) underlayment film. Today, composite materials are the center of experiments to reduce the cost and improve the effectiveness of panels. Lighter panels — arrayed in honeycomb patterns — enable more panels per array and more efficient light collection. Composite prototypes are up to 40% lighter and many times more efficient! At scale, they could be a fraction of the cost to consumers as well. The sheer size and demand of wind turbine applications makes composite materials a natural solution. A 50-meter wind turbine blade can weigh as much as 40,000 lbs.! Any effort to reduce weight not only lightens the load on manufacturers, but also facilitates smoother operation from the turbine after it’s installed. Composites like carbon fiber and glass-reinforced materials deliver this lighter weight without compromising the integrity of the blades themselves. U.S. wind capacity has increased substantially over the last decade, reaching 96,433 megawatts today. This suggests demand for more turbines is coming, along with retrofit blades for turbines that have been in service for 6-10 years. Being able to continually innovate turbines using advanced composite materials will continue to increase megawatt output to satisfy growing demand. Renewables and composites set to rise With demand for renewables ever-growing, the market for composites will follow closely behind. As innovations within the renewable energy industry unlock new potential, demand for next-generation products will only contribute to the rise of composites. Many industries are poised to capitalize on composite materials in the future, but few are as well-positioned as the renewables market. Wind and solar stand to benefit tremendously from composite construction. It’s up to innovative companies in the renewables space to recognize this opportunity and take renewable product production into its next phase of efficiency. Contact Mar-Bal today to learn more.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9767031669616699, "language": "en", "url": "https://nelsoneldercarelaw.com/just-what-are-the-responsibilities-of-a-financial-poa/", "token_count": 1182, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.046875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:20fc711a-d4d0-4abb-bd41-9c3b0abe534a>" }	A ‘power of attorney’ (POA) is the document that a person signs to give another person the legal authority to act on his/her behalf. The concept of a power of attorney sounds simple but there is a lot to know about this important part of an estate plan, says the Rushville Republican in “Financial power of attorney responsibilities.” Whether you are named as someone’s power of attorney or you are considering who to name on your behalf, it is important to understand the terminology, the role and the responsibilities. The person who signs the POA is called the “principal” and the person to whom authority is given, is often referred to as the “attorney in fact” or the “agent.” What powers are given to the person who becomes the agent? In some POAs, there are limits placed on the person, but in most cases the power is “general.” In these cases, the agent can do whatever the individual would do. That includes opening bank accounts, buying and selling property, managing investments, filing taxes, cashing checks and closing accounts. An agent is a considered a fiduciary of the principal, which means that he has a legal duty to act in the principal’s best interest. The agent may not change the principal’s will and he is not permitted to transfer such authority to act as an agent for the principal to anyone else, unless specifically authorized in the POA itself. There are different types of POAs. When they become effective, depends on their type. A financial POA is typically effective the moment it’s signed by the principal. However, a “springing” POA becomes effective, only when a specific event, which is described in the POA document, takes place. If the springing POA is to take effect when the principal becomes incapacitated, usually one or more physicians must agree that the principal can no longer make decisions on their own behalf. If you have been named a POA, talk with the principal about their intentions. The POA generally is not recorded in a courthouse. If you are signing a document for the principal that does have to be recorded with the county, like a deed to a house, then you will need to present and record the POA with the county recorder, before the document can be recorded. The laws in your state or county may be different, so check with your estate planning attorney to be certain. Some people decide to have more than one agent. It’s not unusual, but it can lead to some complications. The wording should include the agents being appointed “severally,” so that they can act independently of one another, if that is appropriate under the circumstances. If one person is on the West Coast while the principal and another agent live on the East Coast, not having the ability to act independently could create problems for the agent and the principal. The POA should remember to keep his assets and the principal’s assets separate. Money should not be intermingled in bank accounts or investment accounts. This is a very important point, since the fiduciary responsibility is a serious matter. The POA can be changed or revoked by the principal at any time, as long as she is mentally competent. The POA ends with the death of the principal. It is meant to be used as a helpful tool, while the person is living. After the person dies, the executor takes over as the personal representative of the person’s estate. Speak with your estate planning attorney about making the decisions as to who should be your Power of Attorney. This is a very important role and it must be someone who you can trust implicitly and who is also willing to take on the responsibilities. Reference: Rushville Republican (Jan. 22,2019) “Financial power of attorney responsibilities” I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them. The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you! Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed. Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm! I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9433701038360596, "language": "en", "url": "http://ccp-ebikes.com/list/vehicles", "token_count": 416, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0673828125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:a06f9692-c0eb-4b52-b262-fe60d1a4fcec>" }	1. Minimum engine options maximum power configurations The biggest advantage of electric vehicle manufacturers is the easily variable power inherent in electric motors. The manufacturer can produce only a few motors, but offer up to 30 different transmission options. In short, “horsepower”, which is not the correct definition for electric motors, can be adjusted, that is, one motor can have several power options. In turn, the manufacturer of cars with ice, to offer similar variability and be able to compete, must spend money on the development and creation of a much larger number of engines, with each engine will need its own production and Assembly line, while the manufacturer of electric vehicles is satisfied with the simplicity of design and savings on Assembly due to the smaller size of the electric motor. Continue reading Volkswagen has set itself the goal of a possible profitable mass production of electric vehicles in the amount of 80 billion euros (91 billion us dollars) — a feat that no automaker has not even reached. If Volkswagen realizes its ambitions to become a world leader in the field of electric vehicles, this will happen thanks to a radical and risky rate. The German giant placed a bet on 80 billion euros (91 billion us dollars) and the possibility of profitable mass production of electric vehicles — a feat that no automaker has achieved. So far, the plans of most major automakers have been one major goal: to protect profits from expensive cars with ice and to replenish their range and fleet with enough zero-emission vehicles to meet environmental standards. Continue reading The network has a 5-minute video in animated form from Visual Capitalist and Global Energy Metals about the history of Tesla since the company’s inception to the present day. The video focuses on 3 main points: Lithium-ion batteries that need to be constantly improved so that electric vehicles can become the most popular means of transportation. Electric vehicles as the beginning of a possible transition of the world to sustainable energy. Cost savings on electric vehicles by increasing the level of production. Continue reading
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9634103178977966, "language": "en", "url": "http://ccp-ebikes.com/post8", "token_count": 1215, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1416015625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:9c677688-a1cf-4b00-a2b7-e91e021d65fb>" }	3 myths you should know about electric cars in the USA On 6 October 2018, the intergovernmental panel on climate change issued a special report to policymakers urging that, in order to avoid the most catastrophic consequences of climate change, we must reduce greenhouse gas emissions by 45% by 2030 and achieve zero emissions by 2075. Integrated climate change mitigation requires active action in most sectors, particularly transport, which is the leading source of greenhouse gas emissions in the United States and needs reform. Fortunately, improvements in technology have led to the development of electric vehicles that produce less than 25% of the greenhouse gas emissions from traditional vehicles, according to a report by the California air resources Council.By October 2018, sales of electric vehicles in the United States reached 1 million units. As the economy prepares for the electrification of transport, many energy, automotive and economic experts agree that our future will depend on an electrified transport system, driven by the economic and environmental benefits of these technologies. However, even with clear advantages, there are consumers who are hesitant to switch to electric vehicles. In the US, there are 3 myths about electric cars that are easy to dispel. 1. Consumers believe that electric cars are more expensive than traditional cars with ice In 2018, the original price of an electric car was still on average higher than that of a traditional gasoline car. However, the true price of the vehicle includes the cost of ownership and operation. A study conducted by the Electric power research Institute, which examined the costs of operating a fully electric Nissan Leaf car and a Chevrolet Volt plug-in hybrid, found that electric cars are in many cases cheaper to own than conventional ones, thanks to cheaper electricity and lower maintenance costs. To subsidize the cost of electric cars, governments in large countries and cities where electric cars are distributed offer financial incentives to buyers of electric cars. The us Federal government provides tax breaks of up to $7,500 for buyers who purchase electric cars. The initial cost of electric vehicles is likely to decrease over time. According to Reuters, major car manufacturers have recently invested at least $300 billion in batteries and electric vehicles. These investments, combined with rapid improvements in battery technology and lower battery prices, will also reduce the cost of electric vehicles. 2. Consumers believe that the charging infrastructure is underdeveloped Despite the advantages of electric vehicles, many are still hesitant to switch to electric vehicles. Among respondents to a survey conducted in 2018, 63% cited insufficient charging locations as a reason they were not sure or did not want to choose an electric car as their next vehicle. Most current owners of electric cars charge at home, but not every driver has the opportunity to charge at home, as many rent a house or live in apartments. California, new Jersey and new York have announced a joint investment of $1.3 billion in additional charging infrastructure as consumers await the emergence of more charging stations. There are already startups with technological solutions that currently allow owners of electric vehicles to access daily charging. California-based startup EVmatch extends access to reliable options for charging electric vehicles similar to Airbnb and Uber. With the application EVmatch the electric vehicle drivers find and reserve the time and place on the charging stations or points, which are leased to homeowners and businesses that extend the capabilities of public charging without the need for new hardware. 3. Consumers are afraid that the power reserve is not enough to travel long distances According to the survey, 58% of consumers said they would not own electric cars because they were afraid that their power reserve would not be enough to travel long distances. The average power reserve of an electric car today is 310 km compared to the power reserve of traditional gasoline cars, which is 700 km. With increased investment and improved battery technology, the problem of limited electric vehicle power reserve will be gradually solved, faster chargers will be available soon. There are currently three levels of electric vehicle charging speed, and the difference between the three levels is significant. Level 1 can provide a power reserve of up to 8 km, while level 3 — from 290 to 390 km in 1 hour. While charging speed may be attractive to consumers, it may be more important to have a sufficient electric vehicle power reserve. The Volta network can provide free public charging stations that integrate with everyday activities — charging your electric car is possible during a 30-minute grocery shopping or watching a two-hour movie at a local cinema. FreeWire Technologies, founded in 2014, produces mobile charging stations for electric vehicles. Their Mobi charger can be booked by office workers using the electric car charging app in the Parking lot near the building. The growth pressure from the public on addressing climate change of the government, municipal services, groups of protection of interests of private enterprises and startups react to the transition to electrified transport system. In States such as California, where the Zero Emission Vehicle (ZEV) program operates, car manufacturers are required to offer consumers a certain amount of environmentally friendly vehicles, including electric vehicles. Nine other U.S. States joined California, supporting the ZEV program, which accounts for more than 30% of the U.S. automotive market. As more and more States adopt the ZEV program, automakers will have no choice but to offer more affordable and diverse electric vehicles. Cities and States are focusing on educating consumers by planning to increase the number of charging points and stations in public places, and private startups are developing innovative solutions to expand access to electric vehicle charging. Los Angeles plans to install 25,000 charging stations for electric vehicles by 2025 (currently only 1,800). And new York recently announced an investment of $250 million in fast-charging stations to be installed along major highways and John F. Kennedy airport. In the US, sales of electric vehicles have fluctuated around 1% over the past two years, but sales of electric vehicles in April 2018 amounted to 1.74% of total passenger car sales. In 2018, sales of electric vehicles increased by 81% compared to 2017.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9454494118690491, "language": "en", "url": "http://www.customessaylive.com/essay-benefits-ppps/", "token_count": 201, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1123046875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:bbcfefcb-040d-4373-8f9d-069848b2938b>" }	PPPs are contractual binding agreements which are formed between the public and private sector. It gives the private sector more leeway than was traditionally the case. Basically, the public sector is a government agency which contracts a private company to construct, maintain, operate or renovate a particular project. Minnow, Martha and Jody Freeman (2009), opine the public sector retains ownership of the project. However, the private company is endowed with special rights which enable it to determine how the project will be completed. The main benefit of PPPs is to formulate strong bonds. All factors remaining constant, both parties will be in a position to solve problems without any delay or disputes. It is noteworthy that access to banks and investments houses, facilities belonging to the public sector, paves the way for funding opportunities. Projects which are not fiscally viable in the public sector do not get public funding. Making use of private funding brings notable changes in the public sector (Assaf, et al, 1995).
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9469444155693054, "language": "en", "url": "https://carboncopy.info/fossil-fuel-production-set-to-rise-climate-goals-in-jeopardy-production-gap-report-2020/", "token_count": 973, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.2412109375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:3f613cfe-610f-4a3e-a98f-2ba9213633e3>" }	While recent months have seen a spate of ‘net-zero by mid-century’ announcements from major economies, global fossil fuel production plans fail to reflect such ambitions according to the report This year, the world as we have known it changed drastically. The suddenness of the COVID-19 pandemic and the resulting lockdown measures and economic downturn have triggered conversations around the future of the planet, especially when it comes to its dependence on fossil fuels. But a new report has found that despite calls for a greener future, on paper, major countries remain committed to fossil fuel production, in some cases, even more than they were pre-pandemic. The special issue of the Production Gap Report, written by leading research organisations and the UN, measured the gap between the Paris Agreement goals and countries’ planned production of fossil fuels. It stated that research indicates the world needs to cut down its fossil fuel production by 6% every year in the next decade. On the ground, however, the report found countries were planning and projecting an average annual increase of 2%. This would result in more than double the production that would keep the world on the 1.5°C pathway. The path that we need to follow According to the report, global coal, oil and gas production would have to decline annually by 11%, 4% and 3% annually in order to achieve the Paris goals. But while the pandemic has resulted in short-term reduction this year, post-Covid stimulus measures will continue to widen the pre-Covid production gap. “The research is abundantly clear that we face severe climate disruption if countries continue to produce fossil fuels at current levels, let alone at their planned increases,” said Michael Lazarus, a lead author on the report and the director of SEI’s US Center. “The pandemic-driven demand shock and the plunge of oil prices this year has once again demonstrated the vulnerability of many fossil-fuel-dependent regions and communities. The only way out of this trap is diversification of these economies beyond fossil fuels. Alas, in 2020 we saw many governments doubling down on fossil fuels and entrenching these vulnerabilities even more,” said Ivetta Gerasimchuk, a lead author of the report and the lead for sustainable energy supplies at IISD. The numbers speak for themselves. G20 countries have, so far, committed over $230 billion dollars, as part of COVID-19 recovery measures, to the fossil fuel industry – both for production and consumption. In comparison, their pledge towards clean energy, which includes renewable energy, energy efficiency and low-carbon alternatives, has been much less – $150 billion. Some of the toxic commitments include tax cuts on fossil fuel imports in Argentina, a rebate on revenue due to the government in India for coal extraction and a tax relief package for Norway’s oil and gas industry. The way forward “This report’s findings make it crystal clear 2020 can’t be the year when nothing changes, it must be the year when everything changes,” says Steven Nadel, executive director at the American Council for an Energy-Efficient Economy (ACEEE). The Production Gap Report highlights six areas of action that policymakers need to undertake to wind-down fossil fuel production. Chief among these is introducing restrictions on production activities and infrastructure and enhancing transparency of current and future production levels. “Governments should also direct recovery funds towards economic diversification and a transition to clean energy that offers better long-term economic and employment potential. This may be one of the most challenging undertakings of the 21st century, but it’s necessary and achievable,” says Gerasimchuk. The report also touches upon the need for a just and equitable transition to clean energy. It recommends countries with lower dependence on fossil fuel production, which are incidentally some of the world’s largest producers such as the US, Australia, Canada and the UK, need to rapidly wind down. The countries that depend most on fossil fuels and with limited capacity, such as Angola, Iraq, Nigeria and Venezuela, however, will need international support for a just transition in the form of increased development assistance, more policy space and fair carbon pricing mechanisms, the report recommended. “Winding down fossil fuel production at a rate in line with Paris goals requires both international cooperation and support,” said SEI Research Fellow Cleo Verkuijl, who is a lead author on the report. “As countries communicate more ambitious climate commitments to the UN climate process ahead of the 2021 UN Climate Change Conference in Glasgow, they have the opportunity to incorporate targets and measures to decrease fossil fuel production into these plans, or NDCs.”
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9610417485237122, "language": "en", "url": "https://compass-ifs.co.uk/glossary/", "token_count": 1371, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.08056640625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:1c55b420-319b-45f3-853e-397b09831f7d>" }	We are very much aware of the amount of technical phrases and “jargon” that is used in our industry. We try and use plain and simple English as much as possible, but there are still some words and phrases that are often used. As such we have produced the following glossary to help explain some of the more common terms that you may read or hear. Units in a fund where the income from the trust’s investments is reinvested rather than being paid out to investors as dividends. This is effected either through enhancing the unit price or issuing additional units. Unit holders get the benefit of the dividends through the increased value of the fund assets (and their share of those assets). A fund in which the objective is to outperform the market average by actively picking stocks that the manager thinks will provide superior returns. The process of deciding how to apportion investment capital between the various possible asset classes: bonds, stocks, property, cash etc. A standard or point of reference by which an investment can be measured. Investment funds are usually measured against a broad market or specific market index. The generic name for a tradable loan security issued by governments and companies as means of raising capital. In the UK government bonds are known as “gilts” or “gilt edged securities” due to the fact that many years ago the certificates concerning ownership were gilded. Bonds issues by companies are known as “corporate bonds”. Basic raw materials and foodstuffs such as metals, oil, gas, plantation crops, grain and oil seeds. Commodities are traded on a commodity exchange both by the companies that use them (e.g. chocolate manufacturers or oil companies) and by investors looking to profit from changes in values. The distribution of part of a company’s earnings to shareholders, usually twice a year. In the UK there is traditionally a main dividend and an interim dividend during a company’s accounting year. Also known as “stocks” and “shares”, these are instruments signify an ownership position, or equity, in a business and represent a claim on its proportionate share in the business’s assets and profits. Holders of equity are often called “shareholders” or “stockholders”. FTSE 100 Index An index of the share prices of the 100 largest companies (by market capitalisation / value and updated quarterly) in the UK. This index in updated throughout the trading day in real time. A company that is listed on a market such as the London Stock Exchange, is said to be “quoted”. FTSE 250 Index An index of the share prices of the 250 largest companies immediately following the largest 100. The FTSE 350 is a combined index of the FTSE 100 and the FTSE 350. FTSE All Share Index Generally viewed as the most representative index of the performance of the UK market, this index comprises the share price of nearly 700 leading companies and Investment Trusts on the London Stock Exchange. Units in a fund where the income from the trust’s investments is paid out to investors, rather than being reinvested. This is the situation that exists when a person dies without a valid will. The person is then said to have died intestate. A unit linked single premium life assurance policy. Part of the premium gives life cover, whilst the balance in invested in unitised funds. Under some circumstances, since the bond is treated as a life policy, certain tax advantages may be enjoyed. A company quoted on the London Stock Exchange that invests its shareholders funds in the shares of other companies. They enable private investors with limited funds to get diversified share ownership without incurring heavy dealing costs and enable investors to get exposure to markets they may not be able to reach themselves (e.g. emerging market countries). They are “closed-ended” which means they have a fixed number of shares in circulation and the price of those shares is determined like any other quoted share – by supply and demand. One of a trio of terms in common use, the others being “mid cap” and “small cap” referring to the market capitalisation of companies. While the thresholds are variable, the phrase large cap refers to the very largest companies with the highest market values, so companies in the FTSE 100 would all be classed as large caps. See Open Ended Investment Company and Unit Trust Open Ended Investment Company (OEIC) Hybrid investment funds that have some of the features of an investment trust and some of the features of a unit trust. They use money raised from shareholders to invest in other companies shares. They are “open-ended” which means that when demand for the shares rises the manager just issues more shares. The price of OEIC shares is determined by the value of the underlying assets of the fund, as opposed to supply and demand. An option is a contract that gives its holder the right but not the obligation to buy or sell a fixed number of shares (or other instrument or commodity) at a fixed price on, or before a given date. See Tracker Fund Pound Cost Averaging The investing of amounts over regular periods, typically monthly, in order to accumulate holdings in securities such as shares, OEICs, investment trusts and unit trusts. When, for example, a unit trust price has fallen then more units can be purchased for that month, similarly when the price rises then fewer units can be purchased. Over a period of a few years, the average price paid will be lower than the average share price for that period since more shares are bought at the lower price and fewer at the higher price. A financial asset such as a share or bond of a company, government body or other organisation that is evidence of debt or equity, and that has been purchased as investment by investors. See Bonds, Equities, Investment Trust; Open Ended Investment Company, and Unit Trust. Stocks and Shares A fund that aims to achieve the same return as a chosen share index by investing in all the companies in the index according to market weighting. These are collective funds that allow private investors to pool their money in a single fund, thus spreading their risk across a range of investments. These are open-ended in the same style as OEICs are. Yield calculations on bonds and equities aim to show the income or return, as a percentage of its current price. For example is an equity had a price of 100 and was paying a dividend of 4 the yield would be 4%.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.960029125213623, "language": "en", "url": "https://finance.zacks.com/advantages-disadvantages-ginnie-mae-bond-funds-1830.html", "token_count": 636, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.04931640625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:c3263466-2915-48b6-b24e-7c2d3bdee0f1>" }	The Government National Mortgage Association, also known as Ginnie Mae or GNMA, is a federally owned corporation. Ginnie Mae insures investment pools that contain mortgage-backed securities to ensure investors receive interest payments in the event that borrowers default on the underlying mortgages. Ginnie Mae funds appeal to investors seeking income because they are fully federally backed, but it is important to keep in mind that they can also be very complex. Ginnie Mae funds are government-backed mortgage securities. They have the advantage of being considered low-risk investments, but a downside is that investors have to contend with the risk of inflation. Exploring the Portfolio Critics of mortgage-backed securities argue that investors have little idea what kinds of loans these sometimes complex securities contain. In contrast, Ginnie Mae funds are easy to understand because each investment pool contains only one type of loan. Ginnie Mae insures funds that contain mortgages that are federally insured by entities such as the Federal Housing Administration. These loans are sorted by interest rates and property type so that all of the loans in each investment pool are essentially the same. While this means investors know precisely what they are getting, it also means Ginnie Mae funds lack diversity. Investors with more diversified portfolios will fare better when low interest rates on mortgages result in low yields for investors in Ginnie Mae funds. Assessing Risk Involved Ginnie Mae funds are the only mortgage-backed securities that are insured by the federal government. Consequently, these securities are viewed as low-risk investments when compared with other bond funds. For this reason, Ginnie Mae funds appeal to investors who are concerned with principal preservation. However, in the investment arena, yields are always connected to risk. Low risk levels mean low returns and that people investing in the funds have to contend with inflation risk. This involves inflation outpacing investment returns, with the result that investors lose spending power. Guarantees for Investors Investors with shares in Ginnie Mae bond funds do not have to worry about late payments or mortgage defaults reducing their dividend checks because Ginnie Mae honors these payments when the actual mortgage borrowers fall behind on their payments. However, the actual value of shares in the fund rises and falls over time based upon factors including the value of the underlying loans. Investors are guaranteed to receive steady income payments, but there are no guarantees they will get their principal back if they sell a bond to another investor before it matures. Securing New Loans Ginnie Mae helps to keep the nation's housing market moving by offering guarantees on securitized loans. The cash inflow from investments in these funds helps to create new lending opportunities, and this means there are always new mortgages coming into the investment market that Ginnie Mae can use to create new funds. However, interest rates on loans vary over time, and when rates are rising shares in existing funds will fall as investors flock to newly issued bond funds with higher yields. When interest rates are falling, investors start refinancing their existing loans. When this happens, the yields paid on Ginnie Mae funds drop because old higher-rate loans are replaced with newer, low-rate loans.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9748002290725708, "language": "en", "url": "https://www.fginsight.com/news/automation-helps-next-generation-of-dutch-farmers-87343", "token_count": 1186, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.044677734375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:848a0243-8b9a-4ef2-93b5-0a1e29ed0f32>" }	In the Netherlands stipulations about phosphate levels and rising farmland prices means more farmers are having to find a second income rather than expand. Katie Jones finds out how automation is helping some farmers with this. In order to divide his time between his agricultural construction company, and the family farm, Arnold Van Dorp says he needed to invest in labour-saving technology. Up until 2010 Mr Van Dorp was milking cows conventionally at the family’s existing family farm set-up near the town of Hazerswoude dorp in the west of the Netherlands. Mr Van Dorp explains: “My parents started with 50 cows on 30 hectares in 1983, and it was very much a traditional Dutch farm with tie barns. “I knew from an early age I wanted to be a dairy farmer, but I also wanted something of my own, so I started my own construction business in 2000.” At the same time, quota was bought which allowed the herd to expand to 130 cows, with youngstock reared away from the farm. However, in 2010 the decision was made to build a new farm set-up across the road from the original farm buildings. At the same time, the family made the decision to stop investing in land, which Mr Van Dorp says was becoming too expensive, and instead invest in improving their production capacity. “We wanted to be sustainable for the future, and knew to be able to do that we would have to produce more milk with what land we had,” says Mr Van Dorp. The 210 cows currently produce just short of 3m kg of milk per year off 52ha (128 acres). However, Mr Van Dorp says this intensive system does throw up a number of challenges. “We buy in 60-70 per cent of our feed in the form of corn silage and concentrates, and utilise our own grass silage for the rest of the feed requirements,” he says. The country’s phosphate regulations means Mr Van Dorp is only able to spread 50 per cent of the farm’s manure on his land. The rest is exported at a cost of 9.5€/tonne to nearby arable farms. The phosphate regulations have also had an impact on herd numbers, with the farm over-producing after the 2015 limits were set. “We have the capacity for 300 cows, but only have phosphate rights for the 210 we are currently milking,” he says. “So we are planning to sell our youngstock and start buying in fresh heifers rather than rearing our own. This will allow us to milk another 36 cows. “This will mean we can fill our most expensive shed – the milking shed – as we have to maximise our production in it.” The four Lely milking robots in the facility mean Mr Van Dorp can fit his off-farm work around coming into the milking shed in the morning and evening to fetch cows which have not visited the robot and clean the beds. As well the robotic milkers the farm also has three robotic manure scrapers, and a feed pusher. “I employ someone to be here every day for things like AI and foot trimming and I farm at the weekends and at either end of the day,” Mr Van Dorp says. “I need to be able to maximise production with the least amount of labour as possible.” With three sons all interested in farming, it was important that Jan and Lineke Aantjes were able to set their family farm up for the next generation. The farm in Bonrepas, south Holland, was bought by the Aantjes family in 1982, and back then the 25ha (62 acres) supported 40 cows. The aim was to gradually increase numbers and in December 2011 were milking 70 cows through a herringbone parlour in the original shed built when the farm was bought. Son Arco says: “We had to take the next step to allow everyone to be involved in the farm, so we decided to stay on this farm and increase the shed space to accommodate 140 cows and youngstock under one roof.” With it being virtually impossible to buy land nearby, the family had to maximise production from the 48ha (119 acres) now farmed. “There’s probably work for 1.5 men full-time here now, but there’s four of us, so we all work here part-time and all have jobs off the farm”, explains Arco, who works in engineering. The new shed was built in 2011 at a cost of around €1.3 million and includes two robotic milkers and an automatic feeding system. “The technology we have on the farm means we can all see what is going on on the farm via apps on our phone,” Arco says. “For example, we can all see what is being fed, what is being milked and which cows are coming into heat. “Each morning we will check this information before coming onto the farm to do our routine jobs.” Eight years on from this massive investment, Arco explains they are milking 135 cows with an average yield of 10,500kg at 4.3 per cent butterfat and 3.6 per cent protein. “Our average milk yield has gone up about 2,500kg compared to when we were milking cows in the old barn,” he says. “We are now much more efficient, the cows are in a better environment and have a continuous supply of fresh feed.”
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9343852400779724, "language": "en", "url": "https://www.golocal-business.com/tag/authentication/", "token_count": 985, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.369140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:43aa0026-d1bb-48e3-aded-6e922f8f0071>" }	Biometrics can be the answer to a more secure and faster system where monetary transactions are done via the mobile phone. Indeed, biometrics is bound to witness a rapid surge, particularly in the financial sector, with banks developing new technologies to protect individual data and improve customer experience when money is being transacted. What exactly is biometrics and authentication? Basically, biometric authentication is the use of biology and technology for security purposes. By the year 2020, it will replace ID cards, PINS and passwords that are actually used for gaining access to bank accounts or into any digital system. A simple example can be the authentication of a user’s identity before he/she is allowed to use a credit card to pay for a product or retrieve money. The verification here can be done through fingerprints, facial, voice or iris recognition. Mostly for online transactions via smart phones, biometrics can really revolutionize the market and make chip cards obsolete. It is mostly a question of security The internet, smart phone and other gadgets are expanding the frontier of a new world where everything is done with the simple touch of a button or tap on a screen. Since it is easy for users to pay with their mobile phones via the internet, it is also easier for someone to hack into your system and do whatever they want. And that is why biometric is crucial for the future development of mobile phone payment. A strong and unbreachable network is the key to reassure people to use their phones for any type of transaction. Biometrics essentially mean more advanced methods of authentication With the banking and airline industries falling prey to cyber-attacks during the past years, the need for stronger authentication methods for payment has become essential. Be it the retail, entertainment and hotel sector, verification barriers such as biometrics can help protect them from breaches and frauds. Although much needs to be done in terms of research and tests, the potential is there. What are the advantages of the biometric system? Be it the bank or customers, biometric authentication brings a wide range of benefits. It will inevitably give a competitive edge as better security increases trust, thus improving business opportunity. Additionally, it will solidify and simplify proof of identity procedures. There is also the question of fraud detection and improving identity management, which is vital for banks. As a matter of fact, when combining biometrics with other developing technologies, we can improve transparency, data analytics and real-time risk assessment. Finally, it will definitely increase efficiency by reducing cost, enhance internal control and facilitate auditing. Customers want a more sophisticated mobile payment experience Retailers have to take into account the changing behavior of customers when it comes to mobile transaction. Obviously, the more advanced the technology, the more businesses have to adapt to these innovations. Smart phone users are always on the lookout for smoother and more effective shopping experiences. Since traditional payment method is a complicated ecosystem, service providers have to come forward with new ideas and technologies that is simpler for users to understand. With biometrics, consumers are looking for an improvement in mobile payment solutions. For businesses, a fully secure, upgraded and sophisticated mobile shopping will be the key to people’s acceptance of mobile payments in the years to come. The next couple of years will be crucial for biometrics Biometrics is going to be the most important mobile payment in 2020. As per Acuity Market Intelligence, the use of biometrics to protect mobile payments will affect more than 65 percent of smart phone users. With an expected revenue of more than 34 billion dollars, mobile payments will dominate all means of monetary transactions in the future. BI Intelligence and Juniper Research are positive that in the next couple of years the number of users is forecasted to be around 99 percent in the US alone and that at least 770 million biometric authentication apps will be downloaded every year. Your body parts are your new passwords Indeed, your body parts will one day replace traditional payment systems and become your new password. Apart from being secure, the convenience and advantages biometrics give people is one of its key points. Biometrics allows users the leisure of not needing to remember complicated and long passwords since the fingerprint doesn’t require any memory and is a part of the body. Biometrics is worlds apart compared to chip cards Indeed, chip cards like EuroPay, MasterCard and Visa have the necessary protection for your peace of mind. However, with hackers trying to find more intelligent and innovative ways to break into accounts, the chip card will soon become obsolete. With biometrics, things get way more complicated for hackers as it is much more difficult when body parts are used for authentication. In the near future, banks will be more equipped to prevent fraud with biometric credit and debit cards that are fingerprint-activated.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9386599063873291, "language": "en", "url": "https://www.writinglaw.com/simple-mortgage-meaning/", "token_count": 361, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1083984375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:42191c65-0783-4a52-91b4-0c278c468b88>" }	Question asked by a Law Student Explain the difference between simple mortgage and mortgage by deposit of title deeds. Are the documents of title not kept with the mortgagee in case of a simple mortgage? What is Mortgage A mortgage, as per section 58 of Transfer of Property Act, is the transfer of an interest in immovable property for securing payment of a debt. On the expiration of the due date, it becomes the duty of mortgagor to repay the amount of loan to the mortgagee and redeem the property mortgaged. What is Simple Mortgage In simple mortgage, no property is delivered to the mortgagee. The mortgagor makes himself personally liable for payment of debt or loan. If the mortgagor does not repay the amount, then mortgagee cannot liquidate or sell the property without the consent of the court. Mortgagee needs to apply to the court for consent to sell property in order to recover money. Therefore the money can be recovered by a money decree. Note: Mortgagor only pledges his property as security and does not give any deeds to the mortgagee. Mortgage by Deposit of Title Deeds A mortgage is said to be mortgage by deposit of title deeds if it has following essentials: i) A debt. ii) Deposit of title deeds. iii) It is necessary that the deposit of title deeds must be in specified towns that are Bombay, Madras, or Calcutta, or any other town which the state government by official Gazette specifies. iv) With the intention to create security thereon. v) The mortgaged property need not be situated in any of the specified towns. vi) It is not necessary that all the title deeds delivered should show a complete title in the debtor.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9204643368721008, "language": "en", "url": "http://ambhealthsys.25u.com/pandeism/Accounting-Essay-Information.html", "token_count": 939, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.01531982421875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:d2ea8717-869a-4766-996d-aaa96378c20c>" }	Answer: According to the Dictionary of Accounting Terms, Accounting is defined as a one step process of recording, measuring, interpreting and communicating financial data by preparing financial statements in order to reflect financial condition and operating. The sub divisions of the accounting essay topics include auditing, tax and financial management and students face difficulty writing accounting assignments. Students get stressed up due to the stringent deadlines and incapability to write the assignments and they look for options available online for custom accounting essay writing. Accounting provides periodic information about the financial position of a firm. Accountants use accruals to provide information about transactions and events, not just cash flows. Accrual accounting allocates cash flows to particular periods under specific transformation rules.Accruals concept of accounting underpins the accounting technique of double entry system. The accruals concept of accounting states that a transaction is recorded at the time when it takes place, not when the settlement is made. On the other hand, a prepayment is the payment of an obligation or instalment payment before its due date.Accounting The following essay or dissertation on the topic of accounting has been submitted by a student so that it may help you with your research work and dissertation help. You are only allowed to use the essays published on these platforms for research purpose, and you should not reproduce the work. It will be caught in Plagiarism. Accounting is the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results; (Merriam-Dictionary, 2012). Cost accounting is described as the evaluating approach to the overall cost of when the business evaluates the cost that is associated with the business. The History Of Accounting Information Systems Information Technology Essay AIS is an integrated framework within a firm that employs physical resources to transform economic data into financial information for operating and managing the firm's activities, and reporting the firm's achievements to interested parties. - Wilkinson J W. The accounting information course appears to be a course that heads in a different direction then what we as students have become accustomed to. Speaking for myself I have always been drawn to the accounting field because it is a black and white area. How accounting techniques, measures and ratios are used to analyse and interpret accounting information (both financial and management) and the limitations of using financial statement and ratio analysis when assessing business performance. Techniques, measures and ratios include those listed in analysis and evaluation of financial information and also investors’ ratios: dividend yield. A financial accounting essay provided by our essay service writing in UK uses three or more sources to design an effective proof of argument. It is recommended that you create an outline, and then write a thesis statement. The study identifies the role of the accountants in the main activities in the E-accounting information system lifecycle. The study has concluded that the accountants play a role in the different. Accounting Essay Accounting is a concept based subject which can be understood only if the concepts are clear. The concepts cannot be learned or mugged up, they need to be understood by applying logic. Accounting essay can give you real pain if you do not pay attention to it. It requires a lot more understanding than any other custom essay or. Management accounting must provide information that offer alternatives to give customers quick service and quality products. Value chain analysis, TQM and other techniques can be used to deal with these demands. Colin, D (2005). Management Accounting For Business. 3rd ed. UK: Patrick Bond. p263-329. Colin, D (2009). Management Accounting For Business. 2nd ed. UK: Brendan George. p213-242, p307. So as I write this essay, I will be speaking on what I have learned about accounting and accounting information. To begin with, Accounting requires ethical approach, and it deals with having access to money and financial records can be too much for people. This example Accounting Information Systems Essay is published for educational and informational purposes only. If you need a custom essay or research paper on this topic please use our writing services. EssayEmpire.com offers reliable custom essay writing services that can help you to receive high grades and impress your professors with the quality of each essay or research paper you hand in. Cost concepts Essay Pages: 4 (961 words); Activity Based Costing And Hospital Cost Efficiency Accounting Essay Pages: 8 (1917 words); Financial Statements Used In Food And Beverage Operations Accounting Essay Pages: 5 (1138 words); Importance Of Financial Information To Stakeholders Accounting Essay Pages: 9 (2013 words).
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9555941820144653, "language": "en", "url": "http://carboncopycommunications.com/business-trade-press/economics-of-electric-vehicles-mean-oils-days-as-a-transport-fuel-are-numbered/", "token_count": 1130, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0654296875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:57774cbd-0c44-4d67-a8f9-395958d7aa44>" }	The future is not looking bright for oil, according to a new report that claims the commodity would have to be priced at $10-$20 a barrel to remain competitive as a transport fuel. The new research, from BNP Paribas, says that the economics of renewable energy make it impossible for oil to compete at current prices. The author of the report, global head of sustainability Mark Lewis, says that “renewable electricity has a short-run marginal cost of zero, is cleaner environmentally, much easier to transport and could readily replace up to 40% of global oil demand”. The oil industry faces a disruption on the same scale as that which has hit the European utilities sector over the last decade, he adds. The report, Wells, Wires, And Wheels… Eroci And The Tough Road Ahead For Oil, introduces the concept of the Energy Return on Capital Invested (EROCI), focusing on the energy return on a $100bn outlay on oil and renewables where the energy is being used to power cars and other light-duty vehicles (LDVs). “For a given capital outlay on oil and renewables, how much useful energy at the wheel do we get? Our analysis indicates that for the same capital outlay today, new wind and solar-energy projects in tandem with battery electric vehicles will produce six to seven times more useful energy at the wheels than will oil at $60 per barrel for gasoline powered light-duty vehicles, and three to four times more than will oil at $60 per barrel for light-duty vehicles running on diesel,” says Lewis. “The clear conclusion of our analysis is that if we were building out the global energy system from scratch today, economics alone would dictate that at a minimum the road-transportation infrastructure would be built up around EVs powered by wind- and solar-generated electricity,” he adds. More than a third (36%) of the crude oil produced today goes to fuel vehicles susceptible to electrification, and a further 5% to generate power. This means that “ the oil industry has never before in its history faced the kind of threat that renewable electricity in tandem with electric vehicles poses to its business model. “We conclude that the economics of oil for gasoline and diesel vehicles versus wind- and solar-powered EVs are now in relentless and irreversible decline, with far-reaching implications for both policymakers and the oil majors,” the report adds. If all of this sounds far-fetched, then the speed with which the competitive landscape of the European utility industry has been reshaped over the last decade by the rollout of wind and solar power – and the billions of euros of fossil-fuel generation assets that this has stranded – should be a flashing red light on the oil industry’s dashboard, Lewis warns. The oil industry has a massive incumbency advantage at the moment – 33% of global energy comes from oil at the moment, compared to 3% for renewables – but that advantage is time-limited to about 15-20 years, because every year, the sector has to invest in new projects to replace lost production and depleted wells. But because of the time it takes to develop new wells, by the time facilities that are approved today come online, “a growing portion of their output will be subject to fierce competition from a cheaper, cleaner fuel source”. This means many projects will struggle to make an economic case for development, or if they do go ahead, they may end up as stranded assets. Even allowing for the structural advantage enjoyed by oil in terms of flow rates, “we think the economics of renewables are already impossible for oil to compete with when looked at over the cycle,” the report states. “The competitive advantage is set to shift decisively in favour of EVs over oil-powered cars in the next five years. In our view, this is much sooner than the oil industry thinks,” BNP Paribas says. To meet 2018 levels of energy demand, the oil industry would have to spend $25 trillion a year for the next 25 years, while to produce the equivalent level of energy from renewables would cost on $4.6 trillion – $5.2 trillion, Lewis says. With the economics of road transportation already moving so dramatically in favour of renewables in tandem with EVs, once the other advantages of renewables and EVs over oil as a road-transportation fuel are factored in the case for accelerating the roll-out of renewables capacity becomes unanswerable. These other advantages are: (i) the environmental benefits in terms of climate change and cleaner air (ii) the public-health benefits that flow from this (iii) the fact that electricity is much easier to transport than oil (iv) the much greater price stability of wind- and solar-generated electricity compared with the price volatility of oil. “For the oil majors, the challenge is on a scale that they have never faced before, and business-as-usual is simply not an option,” the bank says, with any projects with break-even costs of $20 a barrel or higher facing the possibility that up to 40% of their output at below the cost of production.” In short, the report concludes, “whether in the form of gasoline or diesel, oil’s days as a fuel for LDVs are clearly numbered because the economics of new wind and solar projects combined with EVs are set to become irresistible”.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9887155294418335, "language": "en", "url": "http://yerton.com/wadsetters/", "token_count": 669, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.34765625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:8426f9d4-b1a3-4ef3-8ce5-84468e3cc884>" }	A Wadset was a peculiar kind of financial instrument far in advance of its time, and one that could only have been invented by a nation that was poised on the edge of greatness. It was prevalent in Scotland in the 17th Century, prior to the founding of our first national bank on 17th July 1695, and was one of the larger factors that made Scotland a very attractive proposition for a Union in 1707. The proliferation of this financial vehicle extracted large sums of capital from the newly found middle classes and deposited it in the hands of landed gentry who generally had systems or projects in place which could offer a return on investment. In a sense it was an early type of quantitive easing. Wadsetters were a new middle class of tenant farmers. They had saved up their cash over the years until they had a substantial sum of money that could be loaned to the owner of their land, or some other ennobled, but cash poor, individual. The cash would be loaned to the owner of the land on the basis that the wadsetter would receive the rents from a defined number of farms . There was a sense that this was a development of the earlier Roman tax farming. A “proper wadset” was where a wadsetter had the authority to subsequently increase the rent paid on a property and keep the difference, until the agreed capital repayment was complete. An “improper wadset” was where a fixed repayment was made from the rents on the land and the landlord kept any excess. Naturally, the type of wadset partly determined the interest rate payable. In England, this type of commercial instrument had not yet been developed. The landed gentry were sufficiently in funds to not require loans. The new middle classes were developing commercial activity abroad and were engaging in such things as the new coffee houses for their investment activity. In the West Kilbride area there were a great many small tenant farmers and several large landowners. The ground is very fertile from the rich coastal plains at Ardneil to the lush fertile grounds of Drummilling. This meant that small tenant farmers could grow crops that yielded extra, beyond their rent, helping them to sell produce and gather capital. One of the more famous wadsetters was John Simson who apparently found treasure in his land at Thirdpairt and suddenly became very wealthy around the 1650’s. The way to invest such money was to loan it it an impoverished landowner such as the Hunters or the Church, on the basis that you would receive the rents generated from the land over a period of time. In due course this enabled his son, Robert, to go to Glasgow University where he would ultimately be professor. Wealthy wadsetters might then be elected to be elders of the Kirk and thereby attain the right to be buried in the Kirkyard. This is why we see to this day several gravestones marked tenant farmer, where normally such individuals would not be entitled to be buried so near to the Church building. Once banks were founded in Scotland, they became the vehicle by which loans were then taken and savings deposited. Consequently the wadsetters became redundant in the sense that they could now secure their capital under the banking system.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9428346157073975, "language": "en", "url": "https://coolgyan.org/commerce/important-questions-class-11-business-studies-chapter-10/", "token_count": 871, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1494140625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:068ac0e9-38ca-423a-b43c-2add742e7ad0>" }	Important Questions with Answers for CBSE Class 11 Business Studies Chapter 10 Internal Trade which is outlined by expert Business Studies teachers from the latest version of CBSE (NCERT) books CBSE Class 11 Business Studies Chapter – 10 Important Questions Mention two advantages of a supermarket. Answer: The two advantages of a supermarket are. - They have huge varieties of products to choose from with different colours and design. - Sales are done with an exchange of cash which is not a bad debt. Note down two categories of trade. Answer: The two categories of trade are. - Wholesale trade - Retail trade Also Check: Important Questions for International Business What do you mean by internal trade? Answer: Internal refers to the sale and purchase of goods and services within a boundary of a nation. Define shops that deal with a specific line product. Answer: Specific line product shops refer to the shops that sell only one specific and not different type of items. These types of shop are located in the main market where a large number of customers can be attracted. State two examples of chain stores Answer: The two examples of chain stores are Body shop and Walmart. Give two features of the supermarket. Answer: The two features of the supermarket are - Have different types and various products, food item, and grocery - All the products are available under one roof. Give two merits of the supermarket. Answer: The two merits of the supermarket are - Sales are done with an exchange of cash which is not a bad debt - Large scale buying and selling, resulting in less operation cost Give two limitations to the supermarket. Answer: The two limitations of the supermarket are - Customers do not have pay on credit option - Supermarkets follow self-service, so customers might not get personal attention State the characteristics of fixed shop retailers. Answer: The two features of fixed shop retailers are - Fixed shop retailers have wide resources and operate in large scale - Manages different products, including both durable and nondurable - Build trust with the customers Define different types of fixed shop small retailers. Answer: Different types of fixed shop small retailers are - General Stores- They sell different types of products to satisfy customers day-to-day requirements. They open for a longer time and attract nearby customers and sometimes offer credit options too. - Speciality Shop- They are specialized in selling only one special item instead of varieties of products. - Street Shop- They mostly attract floating customers and the products they sell are usually cheaper. They supply products from the local market or wholesaler. - Second-hand Shop- These shops sell second hand or used products, clothes, and furniture, etc. They sell their products at cheaper rates and are located mostly on the busy streets. Shops selling second-hand cars or two-vehicles have a reasonable infrastructure. What is the difference between wholesaler and retailer? Answer: Wholesale- A wholesale is selling of goods in bulk to the retailers and businesses at cheaper rates. The wholesaler buys the products in bulk, breaks it into small parts, repacked, and sells it to the retailers. The wholesaler sells only specific items and is least interested in the location of the shop, packaging, and display of the goods. They are more interested in the quantity not the quality of a product. For wholesale business, considerable investment is required, and not the promotion and advertisement. The customers of the wholesale are spread in various cities, town, and different states. Most of the purchases are sold through credit to the customers. Retail- When buyers buy a product and sell it to the final customers for their consumption, and not for any resale, this is known as Retail. The retailers are the mediator between wholesaler and customers. They purchase goods from the wholesaler and sell them to the ultimate customers in small quantity. The profit margin in the retail business is high as the retailer buy-in cheaper rates and sell it to the customers at a higher price. The final price in which the retailers sell the product includes expenses such as rent, electricity, salaries of workers, etc. Also Read: Difference Between Wholesale and Retail
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9351712465286255, "language": "en", "url": "https://time.com/nextadvisor/in-the-news/study-women-know-more-finance-investing/", "token_count": 1359, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.326171875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:d59045b2-f7b4-4c42-974c-01e963ec8215>" }	We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. Women are less financially literate than men, finds a recent study from George Washington University — but they’re more knowledgeable than they believe. The financial knowledge gap found in the study lines up with a “broader gender gap when it comes to confidently assessing [women’s] abilities,” says Dr. Sian Beilock, a cognitive scientist and President of Barnard College. That confidence gap plays a role in women’s’ financial plans for the future, and makes them less likely to do certain things like invest in the stock market. “We need to make it harder for young women to avoid that which makes them anxious, including math and finance,” Beilock says. It’s a theme we’ve picked up on lately, including at a Latina Women on FIRE panel discussion NextAdvisor hosted last week “It’s hard to be one of these women because we’re trying to learn something relatively complex, while we have to defend ourselves and defend our positions in these industries,” said Vanessa Menchaca-Wachtmeister. Here’s what you need to know about the financial literacy gap, and some steps you can take to close it and achieve your financial goals. Why It’s Important for Women to be Financially Literate More than one-third of the gender gap in financial literacy can be attributed to confidence, instead of a true gap in knowledge, the study found. This confidence gap correlates to less stock market participation among women, which is a key means of building wealth. The study concludes that “women know less than men, but they know more than they think they know.” A similar study by the Proceedings of the National Academy of Sciences found cultural beliefs about gender roles negatively impacted women’s self-beliefs regarding pay, which impacts everything from salary negotiations to women’s ability to build wealth. Women of color, especially, face an even more disproportionate income gap because of generations of financial inequality. But that doesn’t mean women are inherently less capable of navigating finance and investing. In fact, a 2017 Fidelity report found that despite earning higher average investment returns than men, just 9% of women believe they make better investing decisions than men. “Women invest. We’re very good investors once we have the knowledge,” personal finance expert Bola Sokunbi told NextAdvisor last year. “We’re good at personal finances. We just need that information out there.” Financial literacy for women can “give us our independence back,” said Menchaca-Wachtmesiter. In her own journey to pay down debt and gain financial independence, Menchaca-Wachtmesiter had to gain confidence early on. “The real game changer was seeing through that ‘female feeling’ that I’m not worthy of money,” said Menchaca-Wachtmeister. Stand Up For Yourself Financial literacy and confidence matter for financial decision making, according to the study. Panelists at our recent Latina Women on FIRE event hold the same view. “I hope you guys are looking at us, we’re very different women, we come from different spaces. But if you look like us, if you come from where we come from, you can be up here doing what we’re doing. It doesn’t matter where you started,” said Menchaca-Wachtmeister. How to Build Your Confidence and Your Wealth Finding a role model can be a great place to start. Learn about what obstacles they overcame, and how you can implement their lessons into your own journey. “Find people you can see yourself in,” Menchaca-Wachtmeister said. “I really value resources that are relatable.” Building your confidence can directly lead to building more wealth. “Particularly in the context of long-term financial decisions such as investment, retirement savings plans, private saving, and wealth accumulation, lower levels of confidence can be detrimental to women,” the report says. “And the effect may be exacerbated because women, on average, have a substantially longer life expectancy than men.” This, coupled with the fact that women earn on average $900,000 less than men over the course of their careers, are huge barriers to building wealth — but not ones you have to live with. Menchaca-Wachtmeister started “going hard with negotiations. In two years I raised my salary by 100%. I doubled my salary.” She recommends this tactic: “I kind of just portrayed in my head ‘how would a straight white male who owns the world take this challenge on?’ And I started asking for the salaries I wanted, negotiating for the contracts that I wanted, and that made a huge difference.” Speaking up and negotiating are also key in a year when women are leaving the workforce in droves. Key advice from experts includes negotiating for your work to fit your needs — something women are less likely to do than men. More on Women and Financial Literacy - Women Are Getting Pushed Out of the Workforce — With Few Ways to Return - Women Are ‘Very Good Investors.’ How Bola Sokunbi Is Taking Clever Girl Finance to the Next Level - Women Are Leaving The Workforce In Droves. Here’s What You Should Do Before, During, and After a Career Break - I Became a Landlord to Pursue the American Dream. It Landed Me in Therapy - How This 38-Year Old Investor Went From $150,000 in Debt to a Net Worth of $370,000 - I’m in Love With Roth IRAs, and I Made This Chart to Show You Why - I’ve Worked Abroad in China, the U.K. and Germany. Here’s What It Taught Me About Money in America - 7 Latina Money Experts You Should Follow Right Now - Meet 4 Latina Investors Changing the Face of the FIRE Movement - NextAdvisor’s Latina Women on FIRE Event
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9355356097221375, "language": "en", "url": "https://www.climatecouncil.org.au/resources/welcome-queensland-renewable-report/", "token_count": 892, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.146484375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:25841a9c-6a23-4f43-b0b2-a1c56fc5bf9a>" }	Queensland is more vulnerable to climate change than any other state or territory in Australia and it is already experiencing severe climate impacts. This report, ‘Welcome to Queensland: Renewable One Day, and the Next, and Next…’ outlines the threats facing QLD, but also the economic opportunities for the state if it takes advantage of the global transition to a clean energy economy. Queensland currently has more than 5,000 jobs in the renewables sector, more than any other state or territory. Projects under construction or about to begin will create another 4,500 jobs in the state and deliver almost $10 billion in investment. However, more needs to be done to unlock the enormous renewable potential and associated growth in jobs and economic opportunities. Queensland has much to lose or much to gain, depending on the path that it takes into the future. Queenslanders are on the frontline of climate change and extreme weather impacts. - Queensland is highly exposed to extreme weather, and has borne 60% of the total economic costs of extreme weather in Australia in the decade from 2007 to 2016. - Climate change is increasing the intensity of extreme weather events that affect Queenslanders – drought, bushfires, heatwaves, floods and cyclones. These events are taking a heavy toll on the health of Queenslanders, and on the state’s many natural assets. - Currently 65% of Queensland is drought declared, with significant impacts on the state’s rural sector. Parts of the state’s west and south have been drought-affected for more than six years. - More than 80% of damages resulting from rising sea levels and storm surges in Australia are projected to occur in Queensland. The most vulnerable area, the Gold Coast, accounts for almost a quarter of projected national damages from sea-level rise alone. - Queensland’s economy is reliant on climate-sensitive industries such as tourism and agriculture, and therefore needs strong local, national and international climate change action to reduce its vulnerability. Queenslanders are embracing solar energy in record numbers and the state will benefit more than most from transitioning to renewable energy. - Queensland is called the sunshine state for a reason. One third of all households have rooftop solar, which can significantly reduce power bills. The state also has the most large-scale solar projects under construction of any state or territory. - Renewable energy projects under construction or about to begin will create more than 4,500 jobs and deliver almost $10 billion in investment to Queensland. This is in addition to the 5,080 current jobs in the sector, which is more renewable jobs than in any other state or territory. - North and central Queensland will be a major beneficiary of the transition to renewable energy, with the region home to six of the ten renewable energy projects under construction in the state. Already solar is affordably and reliably supplying one-third of the electricity needs of Townsville’s Sun Metals zinc refinery, supporting 450 new local jobs. - Jobs in thermal coal are subject to uncertainty and insecurity as the world moves rapidly towards renewables plus storage (e.g. from batteries). A plan needs to be developed between stakeholders such as communities, government, industry and unions that ensures coal mine workers are supported to find fulfilling and rewarding jobs in other industries, including retraining where necessary. Queensland has a pivotal role to play in the global climate effort by driving a smooth and just transition to net zero emissions. It is clear that the burning of fossil fuels – coal, oil and gas – must be phased out rapidly to avoid the worst impacts of climate change. - Australia has signed the Paris Agreement to keep global temperatures well below 2˚C. - Mining and burning the thermal coal in the Galilee Basin and other such deposits around the world would make the Paris target impossible to achieve. - 2˚C warming would sign the death warrant of the Great Barrier Reef, a multi-billion-dollar asset supporting 64,000 Australian jobs. - To limit warming to well-below 2˚C, a rapid phase-out of all fossil fuels is required by 2050 at the latest. This means that the vast majority of fossil fuel resources must remain in the ground unburned, and that no new fossil fuel facilities, or extensions or upgrades to existing facilities, should be permitted. Header image credit: Genex Power
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9502964019775391, "language": "en", "url": "https://www.inverse.com/article/5635-drought-is-forcing-california-agriculture-to-scrape-by-on-its-groundwater", "token_count": 668, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1708984375, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:da70d361-d98f-424a-b2e1-ccc6501450c0>" }	If California dries up completely, America’s going to get a whole lot hungrier. There’s no question its ongoing drought — the most severe on record — has taken its toll on the state’s agriculture, the nation’s biggest supplier of produce, but it hasn’t been clear just how badly the industry has been hit. Today, the Pacific Institute, an independent think tank, released the first analysis of the California drought on agriculture. The findings are grim. Even though the amount of harvested land has declined to a 15-year low, the total revenue from farming has actually increased. In 2013, one year into the drought, crop revenue hit a record high of $34 billion; the next year’s revenue is the second-highest on record, dropping only by 1.4 percent. Similarly, 2014 saw a record high number of agricultural jobs. It’s not the trend you’d expect from a state in the midst of the hottest and driest spell on record, but it’s also not one that can continue. The study found that the agricultural industry has managed to stay afloat because of hugely unsustainable groundwater pumping. This water, pumped from underground aquifers, serves as an important secondary supply of water for both farmers and municipalities — especially in times of drought. But the analysis found that farmers are overdoing it: [T]he current use of groundwater far exceeds the natural rate of recharge. This has resulted in a decline of groundwater levels across large parts of the state, saltwater intrusion and other water-quality impairments, land subsidence, lost storage, and increased energy costs, among other adverse impacts. If underground aquifers don’t have the time to replenish themselves, the consequences won’t just affect present-day Californians. Overpumping could cause the land to lose its ability to store fresh water altogether or allow contaminating salt water to rush in, forcing future generations to dig even deeper for water or find alternative water sources. Fortunately, the study also reports more sustainable countermeasures to the drought. California farmers have employed a range of strategies to respond to the drought, including under-irrigating their fields, fallowing land, shifting crops, purchasing insurance, and pumping more groundwater. Water transfers have also mitigated the impact of the drought. Some farmers have turned to drip irrigation, while others have switched from low-value to high-value crops to get more profit out of their water. The drought seems to have turned water into a sort of currency, with farmers selling their supplies of water to other farmers as well as to non-agricultural users, like other industries and municipalities. The report estimates that “water transfer” to non-farm users boosted total agricultural revenue by $66 million, making up for unproductive farms. The Pacific Institute admits that the drought’s impact wasn’t nearly as bad as expected, but that doesn’t mean California farmers can relax. The study serves as a warning that the current emergency measures can’t be taken into the long term, especially as the state moves into “a future likely to see less water, more extreme weather, and greater uncertainty.”
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9794247150421143, "language": "en", "url": "http://www.antiquemoney.com/old-twenty-dollar-bill-value-price-guide/national-currency-1902-red-seal-twenty-dollars/", "token_count": 262, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.1435546875, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:af9da673-07cc-413b-ba47-10bdb5207ab6>" }	National Currency – 1902 Red Seal – Twenty Dollars National Currency - 1902 Red Seal - Twenty Dollars Red Seals! 1902 $20 red seal national bank notes are always in demand. They usually represent the best of the best when it comes to small town banking. Due to changes in legislation, 1902 was the first year that many small town banks became large enough to nationalize. If a bank opened in 1902 then the first type of paper money they would have issued was 1902 red seals. Most of the smaller banks chose to issue sheets of red seals. The sheets had 3 $10 bills and 1 $20 bill. That means that red seal $20s are often many times rarer because they were printed so infrequently. All 1902 red seals were only printed between 1902 and 1908. That is the shortest printing period of any large size national bank note. The number under the portrait of Hugh McCulloch is important, as is the bank of issue. Some red seals are worth $200, others are worth thousands of dollars. We are very interested buyers of any $20 red seal. We will tell you if it is rare and exactly what we can offer for it. Please send us an email with a scan or digital photo of the front and back of your note and we can go from there.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9692633748054504, "language": "en", "url": "https://247wallst.com/special-report/2021/03/04/the-poorest-places-in-the-country/", "token_count": 414, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.228515625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:3b2377f8-0a38-4032-a5c0-815c7a7226ca>" }	Since hitting a multi-decade peak of 15.9% in 2011, the annual poverty rate in the United States has been steadily improving. Though the COVID-19 pandemic and resulting recession may ultimately drive poverty back up, there are communities all over the United States where poverty is so prevalent that it touches nearly the entire community. For the vast majority of Americans, the federal poverty line is set at an annual income of $12,880 for an individual, and $26,500 for a family of four. In dozens of American cities and towns, well over half the population live below that income threshold. Using five-year average poverty rates from the U.S. Census Bureau’s 2019 American Community Survey, 24/7 Wall St. identified the poorest places in the country. We included all cities, towns, villages, and unincorporated areas known as Census designated places, or CDPs, with populations of at least 500 people in our analysis. Places like college campuses and military bases were excluded as income data can be skewed in these areas. In each of the communities on this list, the poverty rate exceeds 60%. Many of these poor areas tend to have several other socioeconomic characteristics in common as well. Often, they have limited economic opportunities, which discourages many to the extent that they exit the labor force as evidenced by low labor force participation in these areas. Unemployment, too, is often high. Additionally, educational attainment levels are typically very low in these places, further limiting job and earnings opportunities. Many of these areas have relatively small shares of high school and college-educated adults. Here is a list of the most educated cities in every state. Many of these communities are also home to large populations of demographic groups that, for a variety of historical, social, and economic reasons are among the most likely to be financially disadvantaged and lack access to opportunity in the United States. These groups include Native Americans and Hispanic and Latino Americans. Here is a list of the states with the most Indian reservations and tribal areas.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9330270290374756, "language": "en", "url": "https://budgetingadvice101.com/how-to-create-a-basic-budget-and-stick-to-it/", "token_count": 391, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0196533203125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:562e5671-2f8c-4dfe-8488-5ac3a4ed3a61>" }	How to Create A Basic Budget and Stick to It Budgets are often difficult to stick to, but once you have created your budget and practice these tactics, you can easily get in the habit of spending wisely and knowing when you have room to spend a little extra, and when you should avoid any unnecessary purchases. Creating a Budget There is no one-size-fits-all solution to creating a budget. The first step you will need to take in creating yours is choosing a system that works best for you and that is easy to understand so that you will actually refer to it on an ongoing basis. Whether it is a spreadsheet or an app on your phone, pick a method that is most convenient for you. From here, you will need to start with your household’s total net income from the month and then subtract all recurring and necessary bills and purchases. These can include: - Mortgage or rent - Utility bills - Phone bills - Insurance premiums - Car payments Some of these bills will have a fixed cost every month, while others, like groceries, will vary from month to month. For the variable bills, use a rough estimate when creating the budget. Once you have determined your recurring bills, you will then need to set aside an amount of discretionary money which can be used for one-time purchases, special events, or emergencies. After this is complete, you can then assess how much you have leftover to set aside for savings, whether it is in a personal savings account or a retirement account. A budget is a useful tool to help you accurately track your spending and create long-term financial goals. The key to remember is a budget is fluid and you can tweak it as needed, depending on how your financial situation evolves. For more helpful tips on how to save money, or to create a budget you will actually stick to, follow us on Budgeting Advice 101.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9232837557792664, "language": "en", "url": "https://esa.co.nz/collections/learning-workbook/products/level-2-economics-learning-workbook", "token_count": 282, "fin_int_score": 3, "fin_score_model": "en_fin_v0.1", "risk_score": -0.1376953125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:ed26023e-a3c9-4033-81e2-daf22faed6ce>" }	Level 2 Economics Learning Workbook Like its predecessors, ESA’s latest (2017) edition of its Level 2 Economics Learning Workbook by Alastair Blyth covers all seven Achievement Standards for NCEA Level 2 Economics. - the three externally assessed Standards 2.1, 2.2 and 2.3 - the four internally assessed Standards 2.4, 2.5, 2.6 and 2.7. These Standards are based on The New Zealand Curriculum. Each of the workbook’s seven chapters deals with one Achievement Standard, covering all key content and skills needed by students preparing for the four internal assessments during the year and the three external assessments at the end of the year. This workbook is designed to help students think critically and to apply their understanding to a wide range of contexts that feature across the Standards. Students are given the opportunity to: - consolidate their understanding of the theoretical components of NCEA Level 2 Economics - apply their understanding and knowledge to a range of relevant scenarios - think about and analyse economics in a variety of contexts. All questions have full answers and explanations at the back of the book, while the workbook format keeps the student’s work in one place. Level 2 Economics Learning Workbook is ideal for use in the classroom, and for homework, home study and revision.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9412047266960144, "language": "en", "url": "https://renewablemarketwatch.com/blog/219-china-grid-connection-concerns-for-renewable-energy-generation", "token_count": 1107, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.3515625, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:a764b187-9720-49ab-bcc6-ed99e45b9bbb>" }	/8th March 2017, IEA, RENEWABLE MARKET WATCHTM/, China has experienced a marked increase in electricity demand over the past decade, requiring rapid and large investments in the power sector. This has provided an opportunity for streamlining system integration with the expansion of overall electricity infrastructure. However, this opportunity has not been fully realised and investments have predominantly been in coal-fired capacity. The dominance of coal in the power sector has translated into growing concerns over local air pollution and CO2 emissions. To address these issues, China is ramping up the deployment of renewable energy resources and putting in place measures to effectively limit increases in coal-fired capacity. In recent years, wind and solar PV deployment have gathered significant momentum. In 2015, renewables represented over 50% of net additions to power capacity. Grid-connected onshore wind capacity increased by over 32 gigawatts (GW) in 2015, the highest rate of installation to date. China installed 15 GW of solar PV in 2015 according to government estimates. Overall cumulative capacity reached over 43 GW, with over 80% from utility-scale projects. China proposed more ambitious renewable energy targets under the 13th Five-Year Plan: nearly doubling land-based wind capacities from 128 GW in 2015 to 250 GW by 2020, and tripling solar PV capacity from 43 GW in 2015 to 150 GW by 2020. The ramp-up of renewables capacity is complemented by measures to limit the construction of new coal-fired capacity. The National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) issued special emergency guidance, requiring local governments and companies to suspend or cancel the permitting and construction of coal-fired power plants. Against the background of slowing economic growth and restructuring of the Chinese economy away from heavy manufacturing, growth in power demand has been slowing dramatically. In 2015, China’s power demand grew by only 0.5%, the lowest since 1998. In a growing number of regions of the country, the issue is no longer how to rapidly meet growing power demand. Rather, the question has become how to scale down coal generation in line with the expansion of renewable energy. This raises issues both within the power sector but also for the Chinese economy more widely, in particular how to deal with the possible negative impacts on employment and economic growth in coal-mining regions. China is moving quickly from a dynamic power system context to a stable one – this is reflected in the growing issue of wind curtailment. The highest curtailment rates are observed in provinces where large coal-fired generation capacity is located or where a lack of transmission capacity prevents the dispatch of surplus wind power to demand centres. Gansu Province led the curtailment with 39% followed by Jilin (32%) and Xinjiang (32%). In this context, the most central challenges relate to operating the power system in a more flexible manner, while deploying new wind and solar PV capacity in a system-friendly manner. The three provinces of Liaoning, Jilin and Heilongjiang (collectively referred to as North-East China is this publication) have been selected for a closer analysis of current operating practices. They are part of the same synchronous system, but each province is balanced separately. With regard to system operations, the greatest barriers to increased use of wind are the contractual arrangements for the purchase of electricity and the resulting constraints on full-load hours for thermal power plants. This leads to monthly, weekly and day-ahead scheduling for thermal generation, leaving little room for adjustment. In addition, once a power plant has been switched off, it is required to remain shut down for one week and unit start-up has a lead time of approximately 12 hours. These issues are further exacerbated by the presence of heat-driven cogeneration power plants, which are particularly constrained by the nature of their operation. This creates challenges to the effective use of increasingly mature renewable energy forecast data. In addition, generators’ KPIs include overall electricity generation above and beyond generated revenue. This can create perverse incentives to generate power even when it is not needed. A further operational challenge is the use of interconnection capacity. Currently, flows over interconnectors linking different provinces are fixed for 12-hour periods, a lost opportunity for using this flexible resource. The improved use of interconnections would by itself already make a substantial contribution to reducing curtailment of VRE in North-East China. Both of these challenges have been recognised by system operators and policymakers in China. In North-East China a pilot project has been put in place to remunerate thermal generation for also providing flexibility (ramping) in order to incentivise a more flexible operation. In addition, making co-generation more flexible has been identified as an important priority. Considering the system-friendly deployment, there still appears to be a tendency to focus on large scale projects in resource-rich areas, far away from load centres. However, next-generation wind and solar PV technology allow for more flexible deployment, which could alleviate some of the current grid integration issues. China already has tools available to diversify deployment. For example, FIT levels are differentiated according to resource endowment. In addition, beginning with the 12th Five-Year Plan, deployment of new wind and solar power is coordinated at the national level. More information about solar PV power market in China you may read here: Asia Photovoltaic (Solar PV) Power Market Outlook 2016 - 2015
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9588398337364197, "language": "en", "url": "https://tomballtxedc.org/site-selectors/incentives/tax-increment-financing", "token_count": 140, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0830078125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:418cc07b-1f1f-400b-9b1f-59f99d5fe176>" }	Tax increment financing is a tool that local governments can use to publicly finance needed structural improvements and enhanced infrastructure within a defined area. The cost of improvements to the area is repaid by the contribution of future tax revenues by each taxing unit that levies taxes against the property. Specifically, each taxing unit can choose to dedicate all, a portion, or none of the tax revenue that is attributable to the increase in property values due to the improvements within the reinvestment zone. The additional tax revenue that is received from the affected properties is referred to as the tax increment. Each taxing unit determines what percentage of its tax increment, if any, it will commit to repayment of the cost of financing the public improvements.
{ "dump": "CC-MAIN-2021-17", "language_score": 0.9235122799873352, "language": "en", "url": "https://www.ceifx.com/news/difference-between-a-fixed-and-floating-currency-exchange-rate", "token_count": 746, "fin_int_score": 4, "fin_score_model": "en_fin_v0.1", "risk_score": 0.0167236328125, "risk_score_model": "en_risk_v0.1", "id": "<urn:uuid:f21b1e18-b0ca-42b5-b997-78b675e04691>" }	Difference Between a Fixed and Floating Currency Exchange Rate Ordering foreign currency is easy with OnlineFX. Anyone who has traveled or conducted business internationally is probably familiar with the concept of an exchange rate. However, it can be difficult to understand how exactly currency exchange rates work. One important concept that helps explain how rates are set is the difference between a fixed and floating exchange rate. Below we have broken down how this concept affects the exchange rates we know about today. What is a fixed currency exchange rate? Fixed currency exchange rates are mainly found in Africa and the Middle East. A fixed exchange rate, also known as a pegged rate is set and maintained by the central bank. The central bank links its currency to another country’s currency making it so that the rate will not change. Most often countries peg their rate to the U.S. dollar, but it can also be seen pegged to the euro, the yen or a basket of currencies. The central bank uses these funds to adjust to fluctuations in the market. The central bank possesses the power to release or absorb funds into or out of the market and maintaining the right amount of foreign reserves is the key to managing this power. Fixed currency exchange rates pros vs. cons \|Fixed Pros\|\|Fixed Cons\| \|Enable the currency's value to remain stable\|\|Central bank must intervene often\| \|Can help lower inflation which encourages investment\|\|Country loses monetary independence\| \|The Central Bank has the power to maintain rate\|\|Can be expensive to maintain\| What is a floating currency exchange rate? In comparison, floating currency exchange rates depend on supply and demand. This means that when the demand for a currency is high its value will increase. Conversely, when the demand is low a country will experience the latter. The value of a country’s currency greatly affects its position in international trade. When a country’s currency value increases, imported goods will become cheaper, making this a desirable position for the country. The International Monetary Fund considers any country that is driven by a floating exchange rate to be demonstrating financial maturity, according to Bloomberg. However, there is debate as to whether letting a currency float actually provides a high level of benefits that we perceive. It can be difficult for a small country to depend on a floating currency as letting their currency depreciate may not necessarily result in cheaper goods in world markets. While each country makes its own decision to enter the market with a fixed or floating exchange rate, it is rare that a currency is wholly fixed or floating. This is due to the fact that there are a variety of market pressures constantly influencing exchange rates. Floating currency exchange rates pros vs. cons \|Floating Pros\|\|Floating Cons\| \|Allows greater change of internal policy\|\|Day to day uncertainty\| \|Less power on central banks as changes occur automatically\|\|Highly volatile\| \|No need for large reserves\|\|More exchange rate risk\| Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 90 foreign currencies, multi-currency cash passport’s, traveler’s cheques and gold bullion coins and bars. For financial institutions and corporations, our services include the exchange of foreign currencies, international wire transfers, global EFT, the purchase and sale of foreign bank drafts, international traveler’s cheques, and foreign cheque clearing through the use of CXI’s innovative CEIFX web-based FX software www.ceifx.com

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