...Abstract This paper explores the origin of wire services, major new agencies providing those services, and the evolution of the service over its history. Wire services are necessary for the facilitation of news internationally. The methods of providing news from a wire service, or news agency, to other newspaper, periodical, radio, television, or other communication outlet has evolved throughout history. This paper explores the humble beginnings of wire services and highlights several of the major wire service providers, including Reuters, The Associated Press (AP), United Press International, Agence France Presse (AFP), and Bloomberg. The Evolution of Wire Services: Then and Now Wire services are integral components of international communication. Also referred to as a news agency, a wire service is an organization “that sends out syndicated news copy to subscribers by wire or by satellite transmission (Mish, 1997).” With origins dating back to the early 1850s (McPhail, 2010), wire services have not always conducted communication transfers with advanced technology like satellite transmissions. From telegraphy to teleprinters to radio, the process of getting news from a wire service to its dependent news and other providers has evolved substantially throughout the years. The conception and continued modernization of wire services can be attributed to various agency titans, including Reuters, The Associated Press (AP), United Press International, Agence France Presse (AFP)...
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...Guide To The Bloomberg Terminal: Introduction Filed Under » Fundamental Analysis, Investment, Technical Analysis, Trading Systems Welcome to the Beginner's Guide to Bloomberg. This portion of the guide is aimed at new Bloomberg users, and will provide an overview of how to use a Bloomberg terminal. If you are a more experienced user, or if after reading this guide you want to go into more detail on Bloomberg's capabilities, please be on the lookout for the Advanced Guide to Bloomberg which will soon follow. (For more, see Day Trading Strategies For Beginners.) In this Basic Guide, we will examine how to sign up for, install and access Bloomberg. We will then go on to covering basic navigation on the Bloomberg system. Navigating Bloomberg is somewhat unique in that the system uses a special keyboard with some keys that are different from those found on a "normal" keyboard. Therefore, the navigation section of this guide will be important to newcomers. After gaining a working knowledge of these basics, in chapter four we will then move on to discuss some of the market and news monitor functions that are available on Bloomberg. Chapter five will focus on the basics of analyzing securities on Bloomberg. Advanced functionality in this area will be covered in the Advanced Guide; in this Basic Guide we will focus more closely on the types of analysis that Bloomberg allows users to perform. Finally, chapter six will provide some tips and tricks for navigating Bloomberg and getting...
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...BLOOMBERG BASIC MANUAL INTRODUCTION TO BLOOMBERG'S MAIN FUNCTIONS FOR BY BLOOMBERG LP EDITED MICHAEL W. VON ORELLI SUMMER 2001 Table of Content PAGE INTRODUCTION 1. INTRODUCTION 2. HISTORY 3. THE BLOOMBERG EMPIRE 4. THE KEYBOARD 5. ANYONE CAN BE AN EXPERT 6. HOW DOES ONE BEGIN (LOGIN) 7. PERSONAL DEFAULTS 8. THE MARKET SECTORS 9. BLOOMBERG BUSINESS NEWS 10. BLOOMBERG MULTIMEDIA SERVICES 3 4 8 10 13 14 16 17 19 24 SCREENS FOR ANALYZING 1. INDICES 2. GOVERNMENT 3. CORPORATES 4. COMMODITIES 5. MUNICIPALS 6. CURRENCIES 7. EQUITIES 8. PORTFOLIOS 27 31 39 48 54 65 70 80 ADDITIONAL INFORMATION 1. SUPPLEMENTARY SCREENS 2. IMPORTANT BLOOMBERG TELEPHONE NUMBERS 3. REFERENCES 84 85 82 Lehigh University Bethlehem, PA 18015 Page 2 of 84 05/18/2004 Created by Michael von Orelli INTRODUCTION Lehigh University Bethlehem, PA 18015 Page 3 of 84 05/18/2004 Created by Michael von Orelli 1. Introduction Welcome To The Wonderful World Of Bloomberg Financial Markets THE BLOOMBERG provides 24-hour instant, accurate and current financial, economical and political information covering all market sectors. It also provides analytics, historical data, up-to-the minute news reports, economic statistics and political commentaries. We have our own news bureau and have been able to integrate news with analytics. THE BLOOMBERG is menu driven, interactive, user friendly and can be customized to fit every investment strategy and informational need. The system is...
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...Webster University Michael A. Kirby MNGT 5000 OB S1 2014 Management Spring I Term Paper Date February 27, 2014 Introduction: Bloomberg L.P. is a privately-held financial software, media, and data company. Bloomberg L.P. comprises approximately one third of the $16 billion global financial data market with estimated revenues of $6.9 billion (Shetty, n.p.). Bloomberg L.P. was founded by Michael Bloomberg with the assistance of Thomas Secunda, Duncan MacMillan, and Charles Zegar--with a 30% ownership stake put off by Merrill Lynch--in 1981 (Shetty,n.p.). The company provides financial software tools, such as analytics and an equity trading platform, data services and news to financial companies and organizations around the world through Bloomberg Professional Services--its core revenue-generating service. Bloomberg L.P. has grown to include a global news service, including radio, television, the internet and print publications (Shetty, n.p.). Its CEO during its formative years was Michael Bloomberg who exhibited an generally autocratic style of management. D.L. Rogers Corp. is a company based in Bedford, Texas whose primary business consists of owning 54 franchises of Sonic Corp.--the drive-in restaurants that are common in the U.S. Southeast. At Sonic's eateries--which accounted for $44 million in revenues for D.L. Rogers in 2012 — carhops rollerskate out to serve customers through...
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...Economic and Monetary Policy Auditing and Business Concepts Submitted by: Edmore H. Delaney Perspective of the Economic and Monetary Policy Framework of the Republic of Liberia This paper is intended to capture the framework of the economy and monetary policy of the Republic of Liberia and the effectiveness it pursues in the implementation its institutional framework. The economy continues to be plagued by a multiplicity of social, financial and economic challenges which has seen production level of the sector far below prewar levels (Findlay & O’Rourke, 2007). Consequently, the government’s approach has been directed towards vigorous pursuing money and credit supply to stabilize the economy. In order for Liberia to implement a sound economic and monetary policy, the government needs to ensure that a monetary aggregate is achievable. The Central Bank of Liberia in 2005, initiated a program to ensure stability of money demand functions where interest rate and income will significantly have impact on the money demand function (Matthew, 2009). The real gross domestic product (GDP) growth in 2014, which was initially projected at 5.8%, is estimated to decline to 2.5% or less by the end of the year. According to the Ministry of Finance and Economic Planning due to the absence of EVD, growth projections in 2014 reflected a weaker economic outturn as compared to the previous year (2013). This growth was driven largely by the expansion...
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...Compliance Paper FIN/370 June 18, 2012 Introduction Ethics and compliance play an important role in a company’s financial environment. In large corporations, such as Wal-Mart, who employ 2.1 million employees worldwide and 9029 retail units fewer than 60 different banners in 15 different countries is a prime example of how ethics and compliance practices are used effectively (Walmartstores.com) (2011). An assessment of the role ethics and compliance plays in Wal-Mart's financial environment along with procedures Wal-Mart has in place to ensure ethical behavior will be examined and discussed in this paper. Also covered in this paper: An explanation of how financial markets work in the United States and identifying the processes Wal-Mart uses to comply with SEC regulations, and an evaluation of Wal-Mart’s financial performance during the past two years using financial ratios and the trend each ratio tells about the financial health of the company. Assess the role of ethics and compliance in your organization’s financial environment The role of ethics and compliance in Wal-Mart’s financial environment is founded on the three Basic Beliefs set forth by Sam Walton (founder of Wal-Mart). The three Basic Beliefs as stated in Wal-Mart’s ethics statement are: Respect for the individual, Service to our customers and striving for excellence (Wal-Mart, n.d.). The open door communications process is another role of ethics and compliance in Wal-Mart’s financial environment...
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...has increased in its value, which results in many oil price crises recently. For all those industries using large amount of oil in operation, the risk of rising oil price is an extensive problem. The most efficient method to hedge against this risk is by using oil futures contracts. Because of its effectiveness, oil futures contracts are playing a key role in risk management for a number of industries including transportation and manufacturing. This report provides principal knowledge about oil futures and its role in hedging the risk of oil price volatility. A case study of US airline industry with most updated data obtained from Bloomberg system is also discussed, which suggests the effectiveness of oil futures in risk management for most airlines companies. However, in some case, the inflexible use of oil futures may create a burden in financial costs while not producing effectiveness in risk hedging. 2 TABLE OF CONTENTS LIST OF FIGURES 3 I. INTRODUCTION In the world of industrialisation, the role of oil is becoming more and more crucial especially for transportation and manufacturing industries. Those industries consume a large amount of oil, which constitutes the major part of their operational costs. However, having gone through the three oil crises in early and late 1907s and recently in mid 2000s, those...
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...Sarkar1 Abstract This paper calculates the cost of capital of the CNX Nifty 50 Stock Index. It explores the possibility of establishing a new benchmark, the cost of capital of stock index, in the context of capital markets. The weighted average cost of capital (WaCC) of the Nifty 50 Stock Index is computed. The WaCC computed can form a new benchmark against which companies can compare their own cost of capital. Usually, companies raise a combination of debt and equity to finance their business. A new company can use this benchmark as a reference to choose the perfect combination of debt and equity to reduce its overall weighted average cost of capital. The methodology computes the cost of capital for the index by including each of the fifty companies of the Nifty index. An aggregate cost of capital is then calculated for all the companies, leading to a new benchmark called the cost of capital of the Nifty 50 stocks. 1 The author is currently a post-graduate student of business management (Batch 2011-2013) at Xavier Institute of Management, Bhubaneswar. The views expressed in the paper are those of the author only and do not necessarily reflect those of the National Stock Exchange of India Ltd. The author acknowledges the opportunity as well as the research grant provided by the National Stock Exchange of India Limited. The author also acknowledge the constant support and guidance provided by Dr. Shridhar Dash for the preparation of the paper. The...
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...discusses how some of the most financially sophisticated companies and financial advisers estimate the cost of equity capital. We particularly focus on areas where finance theory is silent or ambiguous, and practitioners are left to their own devices. Conclusions are based on interviews with two groups: (1) well-regarded firms ranked by peer companies as industry leaders and (2) a sample of 11 of the most active financial advisers (investment banks). For context on academic advice, we also cite recommendations from topselling graduate-level textbooks and trade books in corporate finance.1 Findings The Capital Asset Pricing Model (CAPM) is the dominant model for estimating the cost of equity, with over 90% of firms and all the financial advisers employing this model. Moreover firms and advisers seldom mentioned other asset-pricing models. Yet disagreements exist on how to apply the CAPM. The CAPM states that the required return (R) on any asset can be expressed as Equation 1: R = R f + ( Rm - R f ) (1) 1 Survey evidence and much of the discussion is adapted from T. Brotherson, K. Eades, R. Harris, and R. Higgins, “‘Best Practices’ in Estimating the Cost of Capital: An Update,” Journal of Applied Finance 23, no. 1 (2013), which is an update of an earlier article: R. Bruner, K. Eades, R. Harris, and R. Higgins, “‘Best Practices’ in Estimating the Cost of Capital: Survey and Synthesis,” Financial Practice and Education (Spring/Summer 1998). The 2013 study reports...
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...books and journal in completing the report. The SWOT analysis of Shangri-La Asia Limited is further divided into sections. In strength and weakness, it described the brand reputation of the company and its difficulties in expansion on different culture market respectively. Moreover, opportunities and threats is further been analysed into the growing demand of market and increasing labour cost in Mainland China. Furthermore, a TOWS matrix is created and potential strategic is strongly analysed based on the SWOT analysis. As such, it also look into strategic for Shangri-La Asia Limited (SLA) in overcoming the difficulties in culture difference and taking advantage of its brand reputation for expansion. Lastly, strategic such as being cost effective and revising job description of position is been look into. Table of Contents Executive Summary 1 Introduction 3 Analysis 4 Company Overview 4 Company History 4 SWOT 5 Strength 5 Strong brand image and reputation 5 Business geographically diversified in Asia-Pacific 6 Weakness 7 Difficult in expanding market across different culture market 7 Increasing indebtedness 8 Opportunities 9 Growing demand for hospitality industry 9 New hotel openings to improve market...
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...Wal-Mart Timothy Frost MGT230 May 24, 2012 Howard Kersey Abstract Wal-Mart, the world’s largest retailer, can be viewed as a model of success upon reviewing the internal structure of its organization from within. Comparing the various types of organization structures gives an insight regarding the type of structure Wal-Mart is composed of. As we take a closer look at this company’s structure it enables us to understand better the management functions and elements of control and coordination in place to achieve strategic planning and goals and to implement those into specific actions. We will also explore how this structure affects the relationships among the various departments. I will discuss three objectives throughout this paper. First, I will describe Wal-Mart’s organizational structure and make a comparison to that of other organizational structures used today so as to clarify differences and similarities. Second, I will evaluate how the organizational functions influence and determine its structure. Third, I will explain how organizational design helps determine the best structure. Organizational Structure of Wal-Mart Wal-Mart operates under three divisions, which are Wal-Mart US, Sam’s Club, and Wal-Mart International. Its global operations expands over several continents with numerous subsidiaries geographically located in several countries. These subsidiaries operate under different business names to include ASDA, Sam’s Club, Seiyu, Massmart, Wal-Mart...
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...11 January 2010 Global Sukuk Market Global Sukuk Update The sukuk market was not spared from the effect of the global financial crisis. After expanding robustly in 2007 (by 90% yoy by total value of sukuk issued), the sukuk market experienced a marked slowdown in 2008 and 1H09 due to the following reasons: • • • Challenging market conditions and drying up of liquidity Wide credit spreads and shortages of USD funding in issuing countries Challenging economic environment in the GCC countries, particularly in the UAE Nevertheless, as the overall market conditions improved, the primary sukuk market rebounded in 2H09. Third quarter issuance was up by 162.5% yoy and 61.9% qoq to USD8.8bln, followed by a strong issuance of USD8.1bln in 4Q09. These were in comparison to USD2.2bln in 1Q09 and USD5.5bln in 2Q09. Global Sukuk Issued 1H09 vs. 1H08 12000 10000 USD mln Global Sukuk Issued 2H09 vs. 2H08 Other 18000 16000 14000 12000 10000 8000 6000 4000 2000 0 MENA +292.1% yoy MENA Other USD mln 8000 6000 4000 2000 0 4633 10075 6469 6382 1152 1H08 1H09 2277 2041 2H08 6854 2H09 Source: Zawya, IFIS, Bloomberg, KFHR In 4Q09, global sukuk issued amounted to USD8.1bln, up by 752.1% yoy. On a quarterly basis, the amount of sukuk issued in 4Q09 was however lower than that recorded in 3Q09 by 8.6%, partly attributed to jitteries in the sukuk market resulting from Dubai World’s announcement on its debt restructuring. Global Sukuk Issuance Trend, Quarterly...
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...11/14 Financial planning project VSPGX: 343 stocks, mostly invested in tech. incorporation such as MS, Apple, Google, etc. Reason we pick Vanguard S&P 500 GR Index for large: we want be active fund when market is passive and opposite way. Since market is doing good, we would use passive fund. When market is bad we would not stay on passive fund and go out for active which has good sense in stock picking and beat the market. Currently US market S&P 500 is in good shape(Figure X), S&P value fund portfolio since economy is in good shape. -> since this fund is ETF there is no restriction in minimal payment(just like stock) and use expense ratio on website because that 0.08% is for listed minimal payment($5M) Standard deviation 1Y Weekly = 11.23 Standard deviation 1Y monthly = 8.92 VSPVX: 337 stocks, mostly invested in Exon mobile/GE/AT&T = utility companies, resource(gas) companies and banks -> they don’t ear/lose too much so they are less volatile Standard deviation 1Y Weekly = 10.18 Standard deviation 1Y monthly = 8.29 Mid-cap -> active fund Hartford midcap Fund-A HFMCX : sharpe ratio was 1.22 which determines the absolute sharpe ratio, manager started on last date of 1997, fund turnover is 38% which is pretty low yet still actively managed. Small-cap -> active fund Alphamark Small Cap Growth: AMSCX, has 0.25% 12b 1 *big question to answer! Why we use absolute Sharpe ratio with annual term instead of shorter term(1Y-M)...
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...Team Ethics Paper July 27, 2013 MGTOP593 Section 3 Team 4 Normative Ethical Decision Making Frameworks 1. Utilitarian approach is an ethical theory stating that the rightness and wrongness of an act depends on the consequences the act produces not the act itself. There are four components of the utilitarian approach: 1) the act does not need to maximize benefits but rather focuses on utility, 2) when calculating benefits, utilitarian’s consider themselves equally with others in the equation, 3) utilitarian’s focus on long-term consequences in addition to the short-term benefit-harm ratio. According to utilitarianism an act is not moral only because its benefits outweighs its harm, instead one where utility i.e. satisfaction has been maximized. (Frederick, 1999, pp. 17-19) 2. Unlike the utilitarian approach, the Virtue ethics approach does not take into account the principles of the action, the action itself, or the consequences of the action, rather focusing on the values and moral character of the person performing the act. Characteristics are the personal virtues. (Frederick, p. 30) The shortcomings of virtue ethics are its inability to solve the problem of dilemma when a person has contradictory values. Second, the justification problem, because every culture has different virtues how do you justify which character traits are virtues. (Hursthouse, 2013) 3. Deontological ethics approach judges the morality of an action based on expectations from the person based...
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...in determining the maximum benefit and/or advantages of medical school. Such variables could include but not limited to, gender, ethnicity, tuition, locations, schools, specialties, etc. This paper will touch on the advantages as well as some barriers which may countersuit some of the advantages to form a concise recommendation to my niece on whether becoming a physician is economically and socially a good profession in which she should pursue. Demand Determinants The demand determinants for this case will feature definition of the market and the availability of close substitutes. These two determinants were chosen because the market for medical school can pose many qu4estions, however, narrowing down the most compatible choice is essential in obtaining the value of becoming a physician. The article “Is Being a Doctor Worth it Financial? Not as much as you may Think,” will help us break down the demand determinant of availability of close substitutes. This article goes to analyze the author’s question on whether if it is worth becoming a physician. To determine the author’s answer, she compared the salary of a doctor to one of an average college graduate. In real numbers, not to say that these numbers are of current market value, but for the sake of this paper, the author states that a graduate can earn an income of $40,000.00, minus after-tax deduction; this graduate will take home $30,000.00 a year. A resident after medical school and for the next...
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