...Directors & officers liability * Crime * Bonds – post security * Automobile * Ransom Most important risk * Employees how to obtain these employees and retain them (highly educated) Reserve replacement * You don’t have adequate replacements for your reserves * Assets and other physical property * Have to constantly buy land, look for opportunity in the world What in the company makes you competitive to your peers? Largest risk is in UK buzzard, produces about 40% of oil * If Nexen loses this rig, they would lose $5 billion, if lost, will threaten existence of company Political & social risk Protection of people, and property (in foreign lands) Foreign exchange * Always volatile * Tax rates Project risks * Budget, staffing, time, access to materials Environmental risk * One of most difficult things to predict * Hard to know what’s right and what’s true Risk Management @ Nexen * Not involved in credit risk, employee risk * Have other people looking at it * Involved in risk identification and management * Not just a risk group but and insurance group * Existing risk as well as new risks * Look for contractual language to come up with a business deal that is fair * Identifying and quantifying risk to help the company make good decisions Risk engineering/control * Contract out to engineers * Help the plant make decisions to put in systems to reduce risk and...
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...KPMG (Chinese name: 毕马威) MISSION/HISTORY KPMG was formed in 1987 with the merger of Peat Marwick International (PMI) and Klynveld Main Goerdeler (KMG) and their individual member firms. With a rich history, spanning three centuries, the organization's background can be traced through the names of its principal founding members - whose initials form the name "KPMG." K stands for Klynveld. Piet Klynveld founded the accounting firm Klynveld Kraayenhof & Co. in Amsterdam in 1917. P is for Peat. William Barclay Peat founded the accounting firm William Barclay Peat & Co. in London in 1870. M stands for Marwick. James Marwick founded the accounting firm Marwick, Mitchell & Co. with Roger Mitchell in New York City in 1897. G is for Goerdeler. Dr. Reinhard Goerdeler was for many years chairman of Deutsche Treuhand-Gesellschaft and later chairman of KPMG. He is credited with laying much of the groundwork for the KMG merger. The history of KPMG internationally In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co. joined forces to form what would later be known as Peat Marwick International (PMI), a worldwide network of accounting and consulting firms. In 1979, Klynveld joined forces with Deutsche Treuhand-Gesellschaft and the international professional services firm McLintock Main Lafrentz to form Klynveld Main Goerdeler (KMG). In 1987, PMI and KMG and their member firms joined forces. Today, all member firms throughout the world carry the KPMG name...
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...Title: On top of the environment Author(s): Aon Hewitt Source: Maclean's. 125.17 (May 7, 2012): p44. Document Type: Article Full Text: COPYRIGHT 2012 Rogers Publishing Ltd. http://www2.macleans.ca/ Full Text: [ILLUSTRATION OMITTED] THE GREEN 30 is based on how employees perceive their employer's environmental efforts. We asked each organization that made the 2012 list, compiled by Aon Hewitt, to highlight some of the key programs and practices that earned them high marks. Here are their contributions: Accor/Novotel Canada Hotel management, Toronto * A detailed tracking system minimizes electricity, water, gas and sewer use. * A comprehensive recycling program has cut back the use of newspaper, glass, aluminum, plastics, cardboard and kitchen grease. BC Biometrical Laboratories Ltd. Medical laboratory, Surrey, B.C. * Works with recycling providers to find solutions for high-volume items--like small caps from needles, which once weren't considered recyclable. * Telecommuting is encouraged; more than 15 per cent of administrative staff work from home. Brookfield LePage Johnson Controls Real estate management, Markham, Ont. * Brookfield's head office diverts 100 per cent of its waste from landfills. * Established 11 social responsibility committees and hosted a sustainability event to educate real estate industry professionals on reducing carbon footprints. Celestica Electronics manufacturing, Toronto * Hybrid and other eco-friendly vehicles...
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...John Molson School of Business, Concordia ACCO 310: Section AA Fall 2012 Annual Report Project Husky Energy Inc. Vs. Suncor Energy Inc. Presented by: Brittany Weekes - 6323677 Victoria Zillic - 9235477 Kwun Chung - 6290337 Ye Zhang - 5894352 Submitted to: Professor M. Sellors Date: November 27, 2012 Table of Contents Introduction 1 The Companies 2 Husky Energy Inc. 2 Investments 2 Suncor Energy Inc. 3 Investments 3 The Industry 4 Stock Performance 6 Ratio Analysis 8 Risk Factors 10 Commodity price risk 10 Regulatory risk 10 Sovereign risk 11 Earnings per Share (EPS) 12 Conclusion 14 References 16 Appendices 17 Appendix 1: Husky's Production - December 31st, 2011 17 Appendix 2: Suncor's Production – December 31st, 2011 18 Appendix 3: Ratio Interpretation 19 Appendix 4: Husky’s Basic EPS – December 31st, 2011 20 Appendix 5: Suncor’s Basic EPS – December 31st, 2011 20 Appendix 6: Husky's Financials 21 Appendix 7: Suncor's Financials 24 Introduction The purpose of this report is to carry out a financial analysis on Husky Energy Inc. and Suncor Energy Inc, to determine which of these two companies make up the appropriate energy-related exposure for our client’s stock portfolio. Thus, a financial analysis evaluation will be presented for the above mentioned companies as well as a reasoned investment recommendation to support our proposal. Acting as financial analysts, our team will reveal the macro and micro...
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...Review of World Investment Report MGX5966 International business theory and practice Lecture time: 18:00-19:30, Tuesday Lecturer: Quamrul Alam Tutorial time: 12:00-13:30, Tuesday Tutor: Sharif Rasel Due date: 09/09/2014 Students: RUIHAN FAN (26297701) Review of World Investment Report 1. Introduction This review is going to talk about the recent trends discussed in the WIR 2014, the reason that developing and emerging economies have attracted FDI, and why will SDGs have a significant resource implication for future investment decisions of MNEs. 2. The recent trends discussed in the WIR 2014 1. Global FDI flows Global FDI flows increased by 9 percent in 2013 to $1.45 trillion, up from $1.33 trillion in 2012. Although the share of developed economies in total global FDI flows remained low, it is expected to rise over the next three years to 52 per cent. Global inward FDI stock rose by 9 per cent, reaching $25.5 trillion. It reflects the rise of FDI inflows and strong performance of the stock markets in many parts of the world. 2. FDI inflows FDI inflows rose 9 percent in 2013 revealed a moderate pickup in global economic growth and some large cross-border M&A transactions. The increase of FDI inflows was widespread in all major economic groupings − developed, developing, and transition economies. Developed countries’ FDI inflows grew by 9 percent, reaching $566 billion. Developing economies reached a new high of $778 billion, accounting...
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...------------------------------------------------- Charoen Pokphand Group buys share of Ping An from HSBC Holdings Plc Critical Strategic Analysis Prepared for: Mr. Sheikh Morshed Jahan Associate Professor Course Instructor: Business Strategy (W501) Prepared by: Tabassum Jahan RH 59 Batch 18 Bachelor of Business Administration Institute of Business Administration (IBA) University of Dhaka September 24, 2013 What Happened * December 5, 2012 | : HSBC announced that HSBC Insurance Holdings and the Hong Kong and Shanghai Banking Corporation Limited, two indirect wholly-owned subsidiaries of HSBC Holdings plc, would sell their entire shareholdings in Ping An Insurance Co. , China’s biggest private insurer, to the Thailand-based Charoen Pokphand Group (CP Group) at 59 HK dollars per share. | * February 1, 2013 | : Wholly owned subsidiaries of the Charoen Pokphand Group Company Limited received regulatory approval from the China Insurance Regulatory Commission (“CIRC”) to purchase the Ping An Insurance’s shares. The 4 buyers are indirect wholly-owned subsidiaries of CP Group - All Gain Trading Ltd, Bloom Fortune Group Ltd, Business Fortune Holdings Ltd and Easy Boom Developments Ltd. | The whole 15.6% stake was sold for $9.38 billion. HSBC group has already made a $1.9 billion paper profit on the deal as a result of Ping An’s shares being a fifth higher than the HK$59.00 ($7.61) that it agreed to pay. Concerned parties About HSBC HSBC Holdings plc was founded...
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...|Strength |Weakness | |One of the world's strongest brand names. |Cost of environmental hazards. | |Diverse and huge operations. |Legal issues. | |PETRONAS has grown to be an integrated international oil and gas |Employment scam. | |company with business interests in 50 countries. |Rising investment requirement. | |Sponsored education to Malaysian students. (PESP, PSIP) | | |Opportunity |Threats | |Increasing fuel/oil prices. |Government regulations. | |Increasing natural gas market. |High Competition. | |More oil well discoveries. |Long-term falls in domestic oil production. | |Expand export market. |Competition in regional...
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...A * A&W (Canada) * Abilis Solutions (software development, consulting) * AbitibiBowater * Ache Records * Addition Elle (women's clothing) * Advance Gold (mining) * Access Communications * Advanced Cyclotron Systems (medical cyclotrons) * Affinity Credit Union (banking) * Areva Resources Canada (uranium) * Air Canada (airline) * AldrichPears Associates * ALDO Group * Algonquin Power * Allied Shipbuilders * Alta Newspaper Group * Alterra Power * Angoss Software Corporation (software) * Appnovation * Arc'teryx (outdoor apparel/equipment) * Atimi Software Inc * Aritzia (clothing) * Army & Navy Stores (Canada) * Arsenal Pulp Press (publisher) * ATI technologies (semiconductors) * Atmosphere Visual Effects (movie special effects) * AVI Sound International (audio/visual equipment manufacture) B * Ballard Power Systems * Banff Lodging Co * Bank of Montreal * Bank West * Barrick Gold * Bard Ventures Company * BBC Kids (television) * BC Biomedical Laboratories Ltd. * BC Hydro * BC Research Inc * Becancour Silicon (silicon manufacture) * Bell Canada * Bennett Environmental * Becker's * Ben Moss Jewellers * Big Blue Bubble (software firm) * BigPark (software firm) * Biovail * BioWare (video games) * Bison Transport Inc. (Transportation) * Black Diamond Cheese Limited * Black Hen Music (record...
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...Earnings Management Study Oil & Gas Industry Abstract This study mainly focused on the earnings management in oil and gas industry and we used Jones model to detect discretionary accruals in the subject companies. Specifically, we examined three oil and gas sample companies that have been required to restate their financial reports due to the oil reserve overestimation. After running the regression and comparing statistics with other oil and gas companies, we found that the sample companies do revise oil reserves to manipulate the DDA expenses, thus achieving their goals of earnings management. Some recommended auditing guidance to detect such manipulation were given at the end. Introduction/Assumption Earnings management, in accounting, is the act of intentionally influencing the process of financial reporting to obtain some private gain. Earnings management involves the manipulation of company earnings towards a pre-determined target. This target can be motivated by a preference for more stable earnings, in which case management is said to be carrying out income smoothing. Management may also overstate the income for personal interests. Other possible motivations for earnings management include the need to maintain the levels of certain accounting ratios due to debt covenants, boost earnings to beat analyst targets, or intentionally understate the earnings to get rid of the...
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...10 Largest Stock Exchanges from Asia, Europe, Africa and America: 1. Asia: i. Bombay Stock Exchange: The Bombay Stock Exchange is the oldest exchange in Asia. It traces its history to the 1850s, when four Gujarati and one Parsi stockbroker would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times, as the number of brokers constantly increased. The group eventually moved to Dalal Street in 1874 and in 1875 became an official organization known as 'The Native Share & Stock Brokers Association'. In 1956, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. The Bombay Stock Exchange developed the BSE SENSEX in 1986, giving the BSE a means to measure overall performance of the exchange. In 2000 the BSE used this index to open its derivatives market, trading SENSEX futures contracts. The development of SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform. The equity market capitalization of the companies listed on the BSE was US$1 trillion as of December 2011, making it the 6th largest stock exchange in Asia and the 14th largest in the world.[1] The BSE has the largest number of listed companies in the world. As of December 2011, there are over 5,112 listed Indian companies and over 8,196 scrips on the stock exchange,[3] the Bombay Stock Exchange has a significant trading volume...
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...The North Sea: vital to the future of the oil and gas industry Contents 3 Foreword 14 Section seven: Forecasts and financials 4 Section one: A new dawn 16 Section eight: Interview with Robin Watson 5 Section two: Growth and investment 18 Section nine: Conclusion 8 Section three: Workforce 19 Section ten: Key takeaways 10 Section four: Foreign ownership 20 About the author 11 Section five: Unconventionals 12 Section six: The road ahead The survey which underpins this report was conducted by B2B International on behalf of Barclays. All charts, data and statistics featured in this report are the product of the results of this survey. Interviews were conducted with 80 oil and gas operators between May and July 2013. T: +44 (0)161 440 6000 b2binternational.com 2 of 21 Foreword The North Sea success story continues. Investment is at a 30-year high and exploration and production activity levels indicate supply for decades to come. Investment from UK and foreign companies alike, coupled with welcome government tax incentives, support this positive outlook. With global demand strong and substitutes so few, Barclays shares this optimism. The United Kingdom Continental Shelf (UKCS) remains a region rich in opportunities and ripe for investment, not least because of the high commodity price. In fact, investment in the North Sea has reached a 30-year high1 and plans are being drawn up to ensure exploration and production...
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...| Friday » October 19 » 2007 | | | A tale of three good companies and their people | Melanie Collison | Freelance | Saturday, October 13, 2007EDMONTON The idea that individuals are important and can make a worthwhile contribution is front and centre as Edmonton's top companies compete for employees in this labour-short marketplace.To recruit and retain the people of their choice, they're offering recognition, and access to executive ears. They're covering tuition, and investing in safety, health and wellness. And they're building in fun and flexibility.Here are three Alberta companies that embody modern workforce thinking.MICRALYNE INC.A custom electronics components manufacturing firm, Micralyne is one of a mere handful that make microelectromechanical systems (MEMS) used by specialized instrument makers.MEMS components are so tiny that hundreds and hundreds fit on a chip the size of your fingertip. These components move when an electrical force is applied, and trigger an automobile's air bag release, for instance, or direct an overseas telephone call, explains says Jaya Gurjar, marketing and communications.A spinoff from a University of Alberta research facility, Micralyne thrives on new ideas and an open door policy."People are definitely appreciated by management," Gurjar says. "Within the company, there's room to grow."The company as a whole is growing, too, both in its physical plant in the Edmonton Research Park, and in the global marketplace where employees...
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...龙行天下 中国资源企业 实现海外并购价值五步曲 作者:德鲁夫· 萨尔达、丁民丞、杰弗里 贝里 · 在中国民间传说中, 龙被视为行云布雨、 润泽万 物之神, 庇佑着农业丰收。 被人喻为 “巨龙” 的中国 大型资源企业如今行走天下, 探囊取物, 并购海外资 产。 然而中国企业的国际化历程并不顺风顺水。 对任 何企业来说, 跨境并购最难的不是交易成功, 而是并 购能否实现整合, 创造价值。 这二十多年来, 中国对资源的需求不断攀升。 据预测, 2013年中国对海外 1 石油和天然气的依赖程度将分别达到60%和30%。随着国内经济持续高速增 长和政府大力支持企业走出去, 中国企业成为国际最主要的并购力量之一。 仅 在2012年, 全球最大的十宗并购交易中就有七宗由中国公司完成, 而其中四宗 2 交易发生在资源行业。 中国公司正在积极通过国际化发展, 从海外市场获得 必需的原材料、 资产、 技术和能力。 我们预期中国的海外并购活动将继续在三 个资源领域中快速发展——分别是金属和采矿、 石油和天然气, 以及可替代能 源。 然而, 许多中国公司, 尤其是过去五年占据全球大型并购半壁山河的国有 企业, 在继续追求其国际化战略之时, 试图以很小程度的整合来完成业务组 合。 我们观察到, 中国企业在并购完成后的工作重点主要集中在知识转移和向 总部进行报告方面, 制定一个帮助企业通过运营整合创造商业价值和建立新 能力的整合路线图却远未获得重视。 然而后者通常将决定并购是否将为企业 创造长期价值。 基于长期的客户经验, 埃森哲建议, 志在成为全球行业龙头的中国资源企 业可以遵循五步曲路径实现海外并购的价值。 2 3 巨龙崛起 自2001年中国加入世界贸易组 织以来, 中国企业在跨境收购方面 变得日益活跃。 中国政府积极推进 企业 “走出去” 战略, 推动对外投 资和鼓励中国企业拓展国际市场。 根据汤森路透的数据, 从2002到 2012的十余年间, 中国企业海外并 购经历了高达32%的年均复合增长 率; 仅在2012年, 中国就在海外并 3 购中投入了646亿美元。 较起点增长超过了14倍。 我们统计分 析发现, 从2002年到2012年, 中国企业 在资源领域的海外并购交易数量实现 5 了16%的年均复合增长率。 这些交易 业的海外并购交易得到政府大力的融 资支持。 例如, 中国国家开发银行已累 计融资300亿美元, 鼎力支持中国石油 天然气集团公司 (CNPC) 的国际并购 7 行动。对于这家中国最大的石油生产 中的多数发生在金属和采矿行业, 占 交易数量的71%; 不过在石油和天然气 行业中的交易额更大, 总共占所有交 易金额的66% (参见图表2) 。 中国国有企业一直主导着资源行 业的海外并购。 在过去的11年, 所有已 完成交易中的98.7%都是由这些国有 企业发起的 (参见图表1) 过去, 。 中国 资源企业的海外并购从很大程度上被 视为国家能源安全战略的一部分。 但 近年来能源安全概念已出现了变化, 中国和全球其他经济体逐渐 (并且审 慎地) 认识到, 能源安全并不仅仅意 味着拥有足够的资源, 同时还必须掌 握相关的能力、 技术和资产, 以使其国 内和国外资源的价值最大化。 虽然各 项能力一直是能源安全的组成部分, 但它们从未像今天这般重要。 例如, 埃森哲和世界经济论坛的 联合研究明确显示, 中国积极制定和 推动有关政策和法规, 使中国成为全 球最具吸引力的可再生能源投资市 ...
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...10-110 Rev. April 3, 2012 BP and the Deepwater Horizon Disaster of 2010 Christina Ingersoll, Richard M. Locke, Cate Reavis When he woke up on Tuesday, April 20, 2010, Mike Williams already knew the standard procedure for jumping from a 33,000 ton oil rig: “Reach your hand around your life jacket, grab your ear, take one step off, look straight ahead, and fall.”1 This would prove to be important knowledge later that night when an emergency announcement was issued over the rig’s PA system. Williams was the chief electronics technician for Transocean, a U.S.-owned, Switzerland-based oil industry support company that specialized in deep water drilling equipment. The company’s $560 million Deepwater Horizon rig was in the Gulf of Mexico working on the Macondo well. British Petroleum (BP) held the rights to explore the well and had leased the rig, along with its crew, from Transocean. Of the 126 people aboard the Deepwater Horizon, 79 were from Transocean, seven were from BP, and the rest were from other firms including Anadarko, Halliburton, and M-1 Swaco, a subsidiary of Schlumberger. Managing electronics on the Deepwater Horizon had inured Williams to emergency alarms. Gas levels had been running high enough to prohibit any “hot” work such as welding or wiring that could cause sparks. Normally, the alarm system would have gone off with gas levels as high as they were. However, the alarms had been disabled in order to prevent false alarms from waking people in the middle of...
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...NYSE Listed Eligible Options by Symbol Eligible Options by Symbol as of 25 Oct 2010 Symbol A AA AAI AAN AAP AAPL AATI AAV AAWW AB ABAT ABAX ABB ABC ABFS ABK ABMD ABT ABV ABX ACAD ACAS ACC ACCL ACE ACGL ACGY ACH ACI ACL ACM ACN ACOM ACOR ADBE ADI ADLR ADM ADP ADS ADSK ADTN ADY AEC AEE AEIS AEM AEO AEP AER Name Agilent Technologies Inc. ALCOA, INC AirTran Holdings, Inc. Aaron's, Inc. ADVANCE AUTO PARTS INC Apple Inc. Advanced Analogic Technologies, Inc. Advantage Oil & Gas LTD. Atlas Air Worldwide Holdings, Inc. AllianceBernstein Holding, L.P. Advanced Battery Technologies, Inc. Abaxis Inc ABB Ltd. AmerisourceBergen Corp. Arkansas Best Corp AMBAC Financial Group Abiomed Inc Abbott Laboratories AmBev Compamhia De Bebidas Das Ame Barrick Gold Corp. Acadia Pharmaceuticals Inc. American Capital Ltd American Campus Communities, Inc. Accelrys, Inc. ACE Limited Arch Capital Group Ltd Acergy S.A. Alum Corp of China Limited Arch Coal, Inc. ALCON Aecom Technology Corporation Accenture PLC Ancestry.com, Inc. Acorda Therapeutics, Inc. Adobe Systems Inc Analog Devices, Inc. Adolor Corp Archer-Daniels-Midland Co Automatic Data Processing Alliance Data Systems Autodesk Inc Adtran Inc AMERICAN DAIRY INC Associated Estates Realty Ameren Corporation Advanced Energy Industries Inc Agnico-Eagle Mines Ltd. American Eagle Outfitters American Electric Power Aercap Holdings N.V. NYSE Arca Lead Market Maker UBS SECURITIES, LLC MORGAN STANLEY & CO CITADEL SECURITIES LLC CITADEL SECURITIES LLC...
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