...Investment Banking Ethical Behavior Would you entrust your money to someone you thought was unethical? Would you risk heavy fines and possible jail time for skimming funds from a client? People who work in finance are placed in a fiduciary position of trust; first, by their employers, but more importantly, by members of the general public, over whose assets they are given control. Their daily business is directly working with other people's money, or doing other things that affect the public's investment decisions, and if they are unethical people, their clients, and the public, are at high risk for being cheated. Finance workers are entitled to reasonable fees for their services, but they are not entitled to engage in investment activity solely to generate more commissions for self, or engage in any other self-dealing while they are doing their jobs on behalf of their clients. Given the many scandals of recent years, many companies have done their best to publicize their codes of ethics, and to acknowledge their responsibility to the public. These firms know that public confidence in their finance people matters a great deal, and unethical behavior on the part of a firm means that people will stay away from that firm, and they may stay away from all the others as well. That is why ethics are not merely relevant. On the contrary, they're vital to the existence of the industry. Good ethical behavior is not an optional. While researching the ethical behavior of the top...
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...Global Finance names the World’s Best Investment Banks 2011 New York, February 22, 2011 — Global Finance announces its selection of the World's Best Investment Banks 2011 to be published in its April 2011 issue. Global Finance editors, with input from industry experts, used a series of criteria to arrive at their selections. These included market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation. Deals announced or completed in 2010 were considered. "The investment banking industry has changed as a result of the financial crisis," said Global Finance publisher Joseph D. Giarraputo. "The best institutions are those that have a business model focused on customer needs." For editorial information please contact: Dan Keeler, Editor, email: dan@gfmag.com GLOBAL AWARDS | Best Investment Bank | Morgan Stanley | Best Equity Bank | Morgan Stanley | Best Debt Bank | Barclays Capital | Best M&A Bank | Morgan Stanley | Best Up-and-Comer | QInvest | Most Creative | Bank of America Merrill Lynch | SECTORS | Consumer | Credit Suisse | Financial Institutions | Bank of America Merrill Lynch | Health Care | J.P. Morgan | Infrastructure | Scotia Capital | Industrial/Chemicals | J.P. Morgan | Media/Entertainment | J.P. Morgan | Metals & Mining | BMO Capital Markets...
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...Bankers have been compensated very generously over the years and there were numerous justifications made for it but through research it has been shown that bankers have been overpaid. Besides James Gorman, Bank executives defended high pay as necessary for retaining key staff. Banks fear that if pay decreases as revenue decreases then valuable staff members will leave the firm. James Morgan, CEO of Morgan Stanley, stated “Compensation is way too high. As a shareholder I’m sympathetic to the shareholder view that the industry is overpaid”. People within the banking industry believe that the industry is overcompensated. The firm’s obligation is to provide appropriate shareholder returns and with revenues decreasing and total compensation rising it is becoming increasingly difficult to raise shareholder returns. In recent news, Deutsche Bank planned on lowering pay and cutting bonuses. UBS is “capping bonuses and linking them to bank’s profitability”. This latest move by the bank was ignited because of the pressure from shareholders who believe that bankers are overcompensated. In order to increase shareholder returns, jobs need to be cut and this is because compared to the revenue of the banks compensation is too high. The pay/revenue ratio needs to be lowered and Deutsche Bank has acted on it by paying the top 150 managers the deferred part of its bonus only after five years. Right now, the total compensation for many bankers does not reflect their contribution to the company...
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...GLOBAL M&A MARKET REVIEW FINANCIAL RANKINGS 1H 2014 1H 2014 GLOBAL M&A FINANCIAL ADVISORY RANKINGS CONTENTS 1. Introduction 2. Global Market Commentary 8. Global M&A Activity by Region 9. Global M&A Activity by Industry 10. Global Announced Deals 11. Cross Border Announced Deals 12. Global Private Equity Announced Deals 13. North America Announced Deals 17. Latin America Announced Deals 19. EMEA Announced Deals 30. APAC Announced Deals 38. Disclaimer The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equityswaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalization according to Bloomberg standards. Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal trends. Visit {NI LEAG...
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...plant and Analysis of Fill rate, Stock maintenance, Primary movement of iDAS distributors" focused on surfacing out the losses that HCCBPL is bearing and to find the measures for its eradication. The project consisted of 3 objectives: The 1st objective was to surface out the non moving / slow moving stocks that are the potential Best Before Due Date stocks (BBD's) and to automate the process on weekly basis - For that I analyzed the stock movement of a week and created a macro which can be run on weekly basis and will showcase the potential BBD's. The macro is already implemented in Khurda plant and there is no stuck out probability of BBD stocks in Khurda now. The 2nd objective was to create an MIS to provide an accountability of bottlenecks on indirect approach of distribution at distributor point. For that I understood the Improvised Distribution Automated System (iDAS) reports well, found out the reports which are beneficial for RTM Managers to see regularly so that the problems can be accountable. The analysis is done by the data gathered from the iDAS Fill rate report and created an MIS to identify the major stock out Stock Keeping Units (SKU's) and area which has got a greater market issue i.e., area and outlets where the stocks are not delivered as per the order can be easily detected and steps can be taken to solve the issues. The 3rd objective was to analyse the stock maintenance and primary movement of iDAS distributors. I showed a trend...
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...John Stokely and AAA Auto Dealers Jennifer L. Beverly Kaplan University PA 165 Professor Fiano December 19, 2011 Memorandum of Law From: Jennifer L. Beverly To: Astrid Fiano, Esq. Re: John Stokely and AAA Auto Dealers Date: December 19, 2011 Question Presented Is AAA Auto Dealers liable for John’s negligence? Brief Answer AAA Auto Dealers is liable for Mr. Stokely’s negligence committed within the scope of employment. Mr. Stokely’s actions fall within the scope of employment because driving to the manufacturing facility was business related. Mr. Stokely’s boss accompanied him to the manufacturing facility. Facts John Stokely is a sales executive for AAA Auto Dealers, a local automobile dealership. He often drives to the manufacturing facility, which is 150 miles from the dealership, to check on new orders. John’s employer reimburses him for gasoline, food, and lodging, and provides John with a dealer car to drive. While driving to the manufacturing plant, John decided to stop by his cousin’s house for dinner. His boss accompanied him on the visit “to get a decent meal for a change.” While on the way there, John collided with and injured a motorcyclist. Discussion In the case of Largey v. Intrastate Radiotelephone, Inc a motorcycle driver was severely injured by an individual driver who the courts found to be an employee of the appellant. The court found that the driver...
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...CHAPTER 4 Securities Markets REVIEW QUESTIONS 4-1. The third market involves OTC transactions in securities listed on the organized exchanges. The fourth market involves direct transactions among large institutions, bypassing intermediaries such as brokers and dealers. Level of Difficulty: Medium Topic: The Third and Fourth Markets 4-2. The primary factors accounting for the rapid changes in securities markets are: • Pressure by institutional investors who have emerged as the dominant force in the market • Computerized trading of securities Level of Difficulty: Medium Topic: The Changing Securities Markets 4-3. The S&P/TSX Composite Index measures changes in market values of a portfolio of Canadian stocks due to changes in the total market capitalization of these stocks. Level of Difficulty: Medium Topic: Canadian Market Indexes 4-4. The Dow-Jones Industrial Average is a price-weighted average of 30 large (blue-chip) stocks trading on the NYSE. The S&P 500 Composite Index is a market value index consisting of 500 stocks, with a base period set to 10 (1941-1943). These measures are the two most often-used indicators of U.S. stocks’ performance. The Dow-Jones Averages are carried by The Wall Street Journal, while the S&P 500 Index is the indicator most often used by institutional investors. Level of Difficulty: Medium ...
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... Guidance, help and encouragement are the essential requirement for successful completion of assignment. We own our gratitude to all those who have helped us in the preparation of this assignment. We express our deepest gratitude to our assignment guide Ms. ANKITA RAJDEV, Asst. professor for her valuable guidance and help in completion of this assignment. We feel obliged to all the respondents, friend and other who have shared their valuable time and opinion, for making significant contribution directly or indirectly in the assignment. INDEX S.no. | Topic | Page no. | 1 | INTRODUCTION TO FINANCIAL MARKET | 4-5 | 2 | MONEY MARKET | 5-6 | 3 | CAPITAL MARKET | 6-8 | 4 | PRIMARY CAPITAL MARKET | 8 | 5 | SECONDARY CAPITAL MARKET | 8-9 | Financial Markets Introduction Financial markets are a mechanism enabling participants to deal in financial claims. The markets also provide a facility in which their demands and requirements interact to set a price for such claims. The participants in the financial markets are the borrowers (issuers of securities), lenders (buyers of securities), and financial intermediaries. Financial markets comprise two distinct types of markets: * Money market * Capital market Characteristics of financial markets * Financial markets are characterised by a large volume of transaction and the speed...
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...Enterprise Development Project 2nd Year Business Group 4 Assignment |Caroline Catterson |L00084152 | |Bridie Griffith |L00079670 | |Orla Long |L00082588 | |Deborah Brougham |L00062741 | Word count: Submission Date: 08/04/2011 Table of Contents Executive summary After our initial meeting and several product ideas later, we agreed to follow up on a new product which was created by Chris Irwin of Premech Engineering Company. The product is a multipurpose self tipping trailer (MPT). Much more than a trailer, through, it features its own power take-off (PTO) and hydraulic system. A 6.5hp Briggs and Stratton petrol engine provides a PTO drive through a reduction gearbox on the engine. The integrated PTO drives a hydraulic pump for tipping its own trailer body or externals, such as a log splitter fitted on to the MPT. The MPT has its own brakes and a one tone payload. Secondary research...
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...and perhaps, most complete dataset. State not only intervenes in the bond markets with its powerful budget and policies but also competes directly with enterprises. The dominance of SOEs and large corporations also prevents SMEs from this debt financing vehicle. Whenever a convertible term is available, bondholders are more willing to accept lower fixed income payoff. But they would not likely stick to it. On one hand, prospective bondholders could value the holdings of equity when realized favorably ex ante. On the other hand, the applicable coupon rate for such bond could turn out negative inflationadjusted payoff when tight monetary policy is exercised and the corresponding equity holding turns out valueless, ex post. Given the weak primary market and virtually nonexistent secondary market, the corporate bond market in Vietnam reflects our perception of the relationshipbased and rent-seeking behavior in the financial markets. For the corporate bonds to really work, they critically need a higher level of liquidity to become truly tradable financial assets. JEL Classifications: G32, G38, O16 Keywords: Vietnam; Corporate Bond; Interest Rate; Transition Economy; Debt Market CEB Working Paper N° 10/001 January 2010 Université Libre de Bruxelles - Solvay Brussels School of Economics and Management Centre Emile Bernheim ULB CP145/01 50, avenue F.D. Roosevelt 1050 Brussels BELGIUM e-mail: ceb@admin.ulb.ac.be Tel. : +32 (0)2/650.48.64 Fax : +32 (0)2/650.41.88 Corporate Bond...
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...Content Weight (%) Page No. LIST OF ABBREVIATIONS .....................................................................................................5 TRADING………………………………………………………….30………………………….7 1.1 INTRODUCTION .....................................................................................................................7 1.2 NEAT SYSTEM .....................................................................................................................9 1.3 MARKET TYPES ....................................................................................................................9 1.3.1 Normal Market..............................................................................................................9 1.3.2 Odd Lot Market.............................................................................................................9 1.3.3 RETDEBT Market .........................................................................................................9 1.3.4 Auction Market............................................................................................................10 1.4 CORPORATE HIERARCHY ....................................................................................................10 1.5 LOCAL DATABASE ..............................................................................................................10 1.6 MARKET PHASES ............................................................................................
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...al l Nutrition P h oo ro Sc Na tio n g e mm ra NSNP Inside Text 2010 bk10:Layout 1 8/20/2010 3:05 PM Page A National School Nutrition Programme Annual Report 2009/10 NSNP Inside Text 2010 bk10:Layout 1 8/20/2010 3:05 PM Page B Department of Basic Education Private Bag X895 PRETORIA 0001 South Africa 222 Struben Street PRETORIA 0001 Tel: +27 12 357 3419 Fax: +27 12 324 0260 www.education.gov.za © 2009 Department of Basic Education Design and layout: Formeset Digital Tshwane, Tel.: (012) 324 0607 NSNP Inside Text 2010 bk10:Layout 1 8/20/2010 3:06 PM Page i Acknowledgement This Annual Report has been made possible by a dedicated team of national and provincial officials who provided the reports reflecting the performance of the National School Nutrition Programme. Their contributions cannot go unnoticed. Thanks also go to the project team, Ms N. Mashigo and Mr S. Mzimba, whose dedication and tireless efforts ensured the delivery of a report of a high standard. Lastly, special thanks go to the Director for the NSNP, Ms N. Rakwena and the Chief Director for Health in Education, Dr F. Kumalo, in providing valuable guidance and support and in editing the various drafts of the report. National School Nutrition Programme i NSNP Inside Text 2010 bk10:Layout 1 Annual Report 2009/10 8/20/2010 3:06 PM Page ii NSNP Inside Text 2010 bk10:Layout 1 8/20/2010 3:06 PM ...
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...BINTI MOHD NAZRI 940307-02-5094 My name is Nor Asma Salsabila binti Mohd Nazri.I was born on 07 March 1994 in Kedah.I am the second child of five siblings in my family.I stay with my family at Sungai Petani,Kedah.My father is Mohd Nazri bin Abdullah.He works as a businessman. He was born on 05 May 1971. My mother is Siti Asa binti Daud.She is a full time housewife. She was born on 07 July 1970.My elder brother is Mohd Bukhori bin Mohd Nazri.He had finished his studying.My younger sister,Nur Alia Husni binti Mohd Nazri is still studying in secondary school at Kubang Pasu Interated Boarding School situate in Bukit Kayu Hitam,Kedah.My younger brother Muhammad Badrul Hisyam bin Mohd Nazri is in primary school and my youngest sister is in kindergarten. I start my primary education at Sek.Keb.Pantai Prai.During the year 2006,I took the UPSR examination and I got 2A’s and 3B’s.I furthered my secondary education at Sek Men Keb Pinang Tunggal.For my PMR examination I got 3A’s 4B’s and 1C.In the year 2011,I sat for SPM examination and I got 3A’s 2B’s 1D and 3E’s.I was a librarian prefect in my school from 2009 until 201.I also joined library club in my school.Many activities such as quiz, cooking competition and explorace were carried on and I was not missed to join the activities that were organized by the club.I was really enjoy while joined the library club. I hope to continue my study doing business.So I decide to further my study at Kolej Poly-Tech MARA in business...
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...on their gender. In other hand, Gender discrimination is the difference between male and female in respect of enjoying human rights. It is severe in Bangladesh where it starts at birth. Despite having achieved gender parity in primary school enrolments, Bangladesh still has a long way to go to achieve gender equity, access to quality education for all girls, completion of basic education with acceptable competency levels and relevant life skills and equal roles for women and girls in society. Some of the key issues which must be addressed are as follows: Perceptions of lesser value and limited roles of girls: Gender discrimination starts from birth and continues throughout life in Bangladesh. The perceived lesser value and limited roles of girls and women are embedded in the socio-economic system. Girls’ education, very broadly defined, can play a part in changing these norms and practices. The issue must be addressed both within schools and in the broader society, starting from early childhood and continuing through adolescence. Quality of basic education: As the statistics illustrate, neither girl nor boys are receiving an education of an acceptable standard. By age 11 only just over a quarter have achieved the expected minimum competencies of primary school. Besides low academic achievement, there is little scope for developing relevant life skills within schools. Although many girls do continue with secondary school, their low competency levels put them at a disadvantage from...
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...I chose my first event, when I was born because well, it’s an obvious one. It was the start of my life, what lead me to all the other events on the timeline. The second one, my first birthday was my first birthday ever. The first one is a special one because I will and already did have many birthdays after that. My third event, when I started pre-school, it was the start of my school days. Each year after that until I’m 18, I would have to be in school. It was the beginning of something big. For the fourth one, when I went into elementary school, it was just the start of something new. I was in there for 6 years of my life. I picked my fifth event, my 7th birthday because it was my biggest party ever. It was at at Boomers and celebrated with many people. My next event, First Communion is definitely an important event. In my religion, I receive Jesus in me through the holy bread. The seventh event, I won 1st place in my elementary school in a poetry contest for Buono’s Pizzeria. I was very shocked, but also happy. I never thought I would win it. For my eighth event, it was when I turned 10. I was finally a double digit. My most memorable one today, is my ninth one, the day I entered Mary Butler Middle School. I have learned so much and am still experiencing it today. The most recent one is of course, the tenth one, the day I got my first very own dog. I have been wanting one for so long and finally got one. She is a Maltese/mix and is named Raquelle. The event that represents...
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