"Hermit Limited is international in scope, but you won't find it on any stock exchange..."
A stock exchange is a form of exchange which provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets, with buyers and sellers consummating transactions at a central location, such as the floor of the exchange
Securities markets took centuries to develop. The idea of debt dates back to the ancient world, as evidenced for example by ancient Mesopotamian clay tablets recording interest-bearing loans. There is little consensus among scholars as to when corporate stock was first traded. Some see the key event as the Dutch East India Company's founding in 1602, while others point to earlier developments. Economist Ulrike Malmendier of the University of California at Berkeley argues that a share market existed as far back as ancient Rome.
In the Roman Republic, which existed for centuries before the Empire was founded, there were societates publicanorum, organizations of contractors or leaseholders who performed temple-building and other services for the government. One such service was the feeding of geese on the Capitoline Hill as a reward to the birds after their honking warned of a Gallic invasion in 390 B.C. Participants in such organizations had partes or shares, a concept mentioned various times by the statesman and orator Cicero. In one speech, Cicero mentions "shares that had a very high price at the time." Such evidence, in Malmendier's view, suggests the instruments were tradable, with fluctuating values based on an organization's success. The societas declined into obscurity in the time of the emperors, as most of their services were taken over by direct agents of the state.
Tradable bonds as a commonly used type of security were a more recent innovation, spearheaded by the Italian city-states of the late medieval and early Renaissance periods.
In 1171, the authorities of the Republic of Venice, concerned about their war-depleted treasury, drew a forced loan from the citizenry. Such debt, known as prestiti, paid 5 percent interest per year and had an indefinite maturity date. Initially regarded with suspicion, it came to be seen as a valuable investment that could be bought and sold. The bond market had begun....
Whenever the Wall Street Journal listed their one hundred wealthiest men in the world, Kelly's name always stood at the top.
Wall Street is the financial district of New York City, named after and centered on the eight-block-long, 0.7 miles (1.1 km) long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.
Wall Street is the home of the New York Stock Exchange, the world's largest stock exchange by market capitalization of its listed companies. Several other major exchanges have or had headquarters in the Wall Street area, including NASDAQ, the New York Mercantile Exchange, the New York Board of Trade, and the former American Stock Exchange. Anchored by Wall Street, New York City is one of the world's principal financial centers
The Wall Street Journal is an American English-language international daily newspaper with a special emphasis on business and economic news. It is published six days a week in New York City by Dow Jones & Company, a division of News Corp, along with the Asian and European editions of the Journal.
The Journal is the largest newspaper in the United States, by circulation. According to the Alliance for Audited Media, it has a circulation of about 2.4 million copies (including nearly 900,000 digital subscriptions), as of March 2013, compared with USA Today's 1.7 million. Its main rival in the business newspaper sector is the London-based Financial Times, which also publishes several international editions.
The Journal primarily covers American economic and international business topics, and financial news and issues. Its name derives from Wall Street, located in New York City, which is the heart of the financial district; it has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The newspaper version has won the Pulitzer Prize thirty-four times including 2007 prizes for its reporting on backdated stock options and the adverse effects of China's booming economy.
In 2011, The Wall Street Journal was ranked No. 1 in BtoB's Media Power 50 for the 12th consecutive year.
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