FINANCE & INVESTMENT

World Acquisition Pages
An acquisition, also known as a takeover, is the buying of one company (the ‘target’) by another. An acquisition may be friendly or hostile. In the former case, the companies cooperate in negotiations; in the latter case, the takeover target is unwilling to be bought or the target's board has no prior knowledge of the offer. Acquisition usually refers to a purchase of a smaller firm by a larger one. Sometimes, however, a smaller firm will acquire management control of a larger or longer established company and keep its name for the combined entity. This is known as a reverse takeover.(1)

World Aluminium Pages
Aluminium is remarkable for its ability to resist corrosion (due to the phenomenon of passivation) and its light weight. Structural components made from aluminium and its alloys are vital to the aerospace industry and very important in other areas of transportation and building. Its reactive nature makes it useful as a catalyst or additive in chemical mixtures, including being used in ammonium nitrate explosives to enhance blast power.Recovery of the metal via recycling has become an important facet of the aluminium industry. Recycling involves melting the scrap, a process that uses only five percent of the energy needed to produce aluminium from ore. However, a significant part (up to 15% of input material) is lost as dross (ash-like oxide). Recycling was a low-profile activity until the late 1960s, when the growing use of aluminium beverage cans brought it to the public consciousness.(1)

World Aluminium Markets
Although aluminium is the most abundant metallic element in the Earth's crust (believed to be 7.5 to 8.1 percent), it is rare in its free form, occurring in oxygen-deficient environments such as volcanic mud, and it was once considered a precious metal more valuable than gold. Napoleon III, emperor of the French, is reputed to have given a banquet where the most honoured guests were given aluminium utensils, while the other guests had to make do with gold ones. Aluminium has been produced in commercial quantities for just over 100 years.In 2005, the People's Republic of China was the top producer of aluminium with almost one-fifth world share followed by Russia, Canada and USA reports the British Geological Survey.Over the last 50 years, Australia has become a major producer of bauxite ore and a major producer and exporter of alumina. Australia produced 62 million tonnes of bauxite in 2005. The Australian deposits have some refining problems, some being high in silica but have the advantage of being shallow and relatively easy to mine.(1)

World Banking Pages
Worldwide assets of the largest 1,000 banks grew 15.5% in 2005 to reach a record $60.5 trillion. This follows a 19.3% increase in the previous year. EU banks held the largest share, 50% at the end of 2005, up from 38% a decade earlier. The growth in Europe’s share was mostly at the expense of Japanese banks whose share more than halved during this period from 33% to 13%. The share of US banks also rose, from 10% to 14%. Most of the remainder was from other Asian and European countries. The US had by far the most banks (7,540 at end-2005) and branches (75,000) in the world. The large number of banks in the US is an indicator of its geography and regulatory structure, resulting in a large number of small to medium sized institutions in its banking system. Japan had 129 banks and 12,000 branches. In 2004, Germany, France, and Italy had more than 30,000 branches each more than double the 15,000 branches in the UK.(1)

World Brokerage Pages
In commerce, a broker is a party that mediates between a buyer and a seller. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Distinguish agent: one who acts on behalf of a principal. A brokerage or a brokerage firm is a business that acts as a broker. A sales person working for a securities or commodity brokerage firm is popularly (but incorrectly) called a "broker." A broker in that context is, strictly speaking, an exchange member who actually executes the purchase or sale order in the pit, on the exchange, as a service to the client of the firm for which that salesman works.(1)

World Cashflow Pages
The cash flow statement is one of the four main financial statements of a company. The cash flow statement can be examined to determine the short-term sustainability of a company. If cash is increasing (and operational cash flow is positive), then a company will often be deemed to be healthy in the short-term. Increasing or stable cash balances suggest that a company is able to meet its cash needs, and remain solvent. This information cannot always be seen in the income statement or the balance sheet of a company. For instance, a company may be generating profit, but still have difficulty in remaining solvent.The cash flow statement breaks the sources of cash generation into three sections: operational cash flows, investing, and financing. This breakdown allows the user of financial statements to determine where the company is deriving its cash for operations. For example, a company may be notionally profitable but generating little operational cash (as may be the case for a company that barters its products rather than selling for cash). In such a case, the company may be deriving additional operating cash by issuing shares, or raising additional debt finance.(1)

World Cocoa Pages
Cocoa and its products (including chocolate) are used world-wide.Chocolate and cocoa contain a high level of flavonoids, specifically epicatechin, which may have beneficial cardiovascular effects on health.The ingestion of flavonol-rich cocoa is associated with acute elevation of circulating nitric oxide, enhanced flow-mediated vasodilation, and augmented microcirculation.Prolonged intake of flavonol-rich cocoa has been linked to cardiovascular health benefits, though it should be noted that this refers to plain cocoa and dark chocolate. Milk chocolate's addition of whole milk reduces the overall cocoa content per ounce while increasing saturated fat levels, possibly negating some of cocoa's heart-healthy potential benefits. Nevertheless, studies have still found short term benefits in LDL cholesterol levels from dark chocolate consumption.(1)

World Cocoa Markets
About 3,000,000 tonnes (3,000,000 LT/3,300,000 ST) of cocoa is grown each year.Cocoa beans, Cocoa butter and cocoa powder are traded on two world exchanges: London and New York. The London market is based on West African cocoa and New York on cocoa predominantly from South East Asia. Cocoa is the world's smallest soft commodity market. The futures price of cocoa butter and cocoa powder is determined by multiplying the bean price by a ratio. The combined butter and powder ratio has tended to be around 3.5. If the combined ratio falls below 3.2 or so, production ceases to be economically viable and some factories cease extraction of butter and powder and trade exclusively in cocoa liquor.(1)

World Collections Pages
A collection agency is a business that pursues payments on debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. Some agencies, sometimes referred to as "debt buyers", also purchase debts from creditors for a fraction of the value of the debt and pursue the debtor for the full balance.Creditors typically send debts to a collection agency in order to remove them from their accounts receivable records; the difference between the amount collected and the full value of the debt is then written off as a loss.In many countries, collection agencies are governed by laws that prohibit certain abusive practices. Failure to adhere to such laws may result in lawsuits or government regulatory actions.(1)

World Commodity Pages
Commodity markets are markets where raw or primary products are exchanged. These raw commodities are traded on regulated commodities exchanges, in which they are bought and sold in standardized contracts.A commodities exchange is an exchange where various commodities and derivatives products are traded. Most commodity markets across the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, metals, etc.) and contracts based on them. These contracts can include spot prices, forwards, futures and options on futures. Other sophisticated products may include interest rates, environmental instruments, swaps, or ocean freight contracts. Steel contracts started to be traded for the first time on the London Metal Exchange in 2007. (1)

World Commodity Markets
The modern commodity markets have their roots in the trading of agricultural products. While wheat and corn, cattle and pigs, were widely traded using standard instruments in the 19th century in the United States, other basic foodstuffs such as soybeans were only added quite recently in most markets. For a commodity market to be established, there must be very broad consensus on the variations in the product that make it acceptable for one purpose or another.The economic impact of the development of commodity markets is hard to over-estimate. Through the 19th century the exchanges became effective spokesmen for, and innovators of, improvements in transportation, warehousing, and financing, which paved the way to expanded interstate and international trade.(1)

World Cooperative Pages
A cooperative is a legal entity owned and democratically controlled equally by its members. The defining point in a cooperative is that the members have a close association with the cooperative as producers or consumers of its products or services, or as its employees.Cooperatives are often organized as non-capital stock corporations under state-specific cooperative laws. However, they may also be organized as business corporations or unincorporated associations, such as limited liability company or partnerships; such forms are useful when the members want to allow some members a greater share of the control, which may not be allowed under the laws for cooperatives. Cooperatives do not generally pay dividends, but return savings or profits, sometimes known as patronage, to their members. (1)

World Copper Pages
Copper has played a significant part in the history of humankind, which has used the easily accessible uncompounded metal for thousands of years. Civilizations in places such as Iraq, China, Egypt, Greece, India and the Sumerian cities all have early evidence of using copper. During the Roman Empire, copper was principally mined on Cyprus, hence the origin of the name of the metal as Cyprium, "metal of Cyprus", later shortened to Cuprum. A number of countries, such as Chile and the United States, still have sizable reserves of the metal which are extracted through large open pit mines. High demand relative to supply has caused a price spike in the 2000s.(1)

World Copper Markets +
Copper has played a significant part in the history of humankind, which has used the easily accessible uncompounded metal for thousands of years. Civilizations in places such as Iraq, China, Egypt, Greece, India and the Sumerian cities all have early evidence of using copper. During the Roman Empire, copper was principally mined on Cyprus, hence the origin of the name of the metal as Cyprium, "metal of Cyprus", later shortened to Cuprum. A number of countries, such as Chile and the United States, still have sizable reserves of the metal which are extracted through large open pit mines. High demand relative to supply has caused a price spike in the 2000s.(1)

World Corn Pages
Maize known as corn in the Americas and Australia, is a cereal grain that was domesticated in Mesoamerica and then spread throughout the American continents.Maize is the largest crop in all of the Americas (270 million metric tons annually in the U.S. alone). Hybrid maize is preferred by farmers over conventional varieties for its high grain yield, due to heterosis ("hybrid vigour"). While some maize varieties grow 7 metres (23 ft) tall at certain locations,commercial maize has been bred for a height of 2.5 metres (8 ft). Sweet corn is usually shorter than field-corn varieties.(1)

World Corn Markets
Maize known as corn in the Americas and Australia, is a cereal grain that was domesticated in Mesoamerica and then spread throughout the American continents. Maize spread to the rest of the world after European contact with the Americas in the late 15th century and early 16th century.Maize is widely cultivated throughout the world, and a greater weight of maize is produced each year than any other grain. While the United States produces almost half of the world's harvest, other top producing countries are as widespread as China, Brazil, France, Indonesia, India and South Africa. Worldwide production was over 600 million metric tons in 2003 — just slightly more than rice or wheat. In 2004, close to 33 million hectares of maize were planted worldwide, with a production value of more than $23 billion.(1)

World Credit Pages
Credit is the provision of resources (such as granting a loan) by one party to another party where that second party does not immediately pay the first party for the resources in full, thereby generating a debt, and instead arranges either to pay for or to return those resources (or equivalent value) at a later date. The first party is called a creditor, also known as a lender. The second party is called a debtor, also known as a borrower.The term credit is used similarly in commercial trade, known as "trade credit", to refer to the approval for delayed payments for purchased goods. Sometimes, credit is not granted to a person who has financial instability or difficulty. Companies frequently offer credit to their customers as part of the terms of a purchase agreement. Organizations that offer credit to their customers frequently employ a credit manager.(1)

World Debt Pages
There are numerous types of debt, including basic loans, syndicated loans, bonds, and promissory notes. Debt, especially large sums of debt, can also be secured through a mortgage or other security interest over some of the debtor's property, in which case the creditor will have some rights over that property in the event that the debtor becomes unable to repay the debt and defaults on the loan.And it may not work out as it seems.A basic loan is the simplest form of debt. It consists of an agreement to lend a principal sum for a fixed period of time, to be repaid by a certain date. In commercial loans interest, calculated as a percentage of the principal sum per annum, will also have to be paid by that date.(1)

World Equity Pages
Equity investment generally refers to the buying and holding of shares of stock on a stock market by individuals and funds in anticipation of income from dividends and capital gain as the value of the stock rises. It also sometimes refers to the acquisition of equity (ownership) participation in a private (unlisted) company or a startup (a company being created or newly created). When the investment is in infant companies, it is referred to as venture capital investing and is generally understood to be higher risk than investment in listed going-concern situations.The equities held by private individuals are often held via mutual funds or other forms of pooled investment vehicle, many of which have quoted prices that are listed in financial newspapers or magazines; the mutual funds are typically managed by prominent fund management firms (e.g. Fidelity Investments or The Vanguard Group). Such holdings allow individual investors to obtain the diversification of the fund(s) and to obtain the skill of the professional fund managers in charge of the fund(s). An alternative usually employed by large private investors and institutions (e.g. large pension funds) is to hold shares directly;in the institutional environment many clients that own portfolios have what are called segregated funds as opposed to, or in addition to, the pooled e.g. mutual fund alternative.(1)

World Financial Pages
In economics, a financial market is a mechanism that allows people to easily buy and sell (trade) financial securities (such as stocks and bonds), commodities (such as precious metals or agricultural goods), and other fungible items of value at low transaction costs and at prices that reflect the efficient market hypothesis.Financial markets have evolved significantly over several hundred years and are undergoing constant innovation to improve liquidity.Both general markets (where many commodities are traded) and specialized markets (where only one commodity is traded) exist. Markets work by placing many interested sellers in one "place", thus making them easier to find for prospective buyers. An economy which relies primarily on interactions between buyers and sellers to allocate resources is known as a market economy in contrast either to a command economy or to a non-market economy that is based, such as a gift economy.(1)

World Financing Pages
Finance is used by individuals (personal finance), by governments (public finance), by businesses (corporate finance), as well as by a wide variety of organizations including schools and non-profit organizations. In general, the goals of each of the above activities are achieved through the use of appropriate financial instruments, with consideration to their institutional setting.Finance is one of the most important aspects of business management. Without proper financial planning a new enterprise is unlikely to be successful. Managing money (a liquid asset) is essential to ensure a secure future, both for the individual and an organization.(1)

World Foreclosure Pages
The most important type of foreclosure is foreclosure by judicial sale. This is available in every state and is the required method in many. It involves the sale of the mortgaged property done under the supervision of a court, with the proceeds going first to satisfy the mortgage, and then to satisfy other lien holders, and finally to the mortgagor. Because it is a legal action, all the proper parties must be notified of the foreclosure, and there will be both pleadings and some sort of judicial decision, usually after a short trial.The second type of foreclosure, foreclosure by power of sale, involves the sale of the property by the mortgage holder not through the supervision of a court. Where it is available, foreclosure by power of sale is generally a more expedient way of foreclosing on a property than foreclosure by judicial sale. The majority of states allow this method of foreclosure. Again, proceeds from the sale go first to the mortgage holder, then to other lien holders, and finally to the mortgagor.(1)

World Forex Pages
Average daily global turnover in traditional foreign exchange market transactions totaled $2.7 trillion in April 2006 according to IFSL estimates based on semi-annual London, New York, Tokyo and Singapore Foreign Exchange Committee data. Overall turnover, including non-traditional foreign exchange derivatives and products traded on exchanges, averaged around $2.9 trillion a day. This was more than ten times the size of the combined daily turnover on all the world’s equity markets. Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues such as internet trading platforms has also made it easier for retail traders to trade in the foreign exchange market. (1)

World Franchise Pages
As practiced in retailing, franchising offers franchisees the advantage of starting up a new business quickly based on a proven trademark and formula of doing business, as opposed to having to build a new business and brand from scratch (often in the face of aggressive competition from franchise operators). A well run franchise would offer a turnkey business: from site selection to lease negotiation, training, mentoring and ongoing support as well as statutory requirements and troubleshooting.After their brand and formula are carefully designed and properly executed, franchisors are able to expand rapidly across countries and continents, and can earn profits commensurate with their contribution to those societies. Additionally, the franchisor may choose to leverage the franchisee to build a distribution network.Also with the help of the expertise provided by the franchisers the franchisees are able to take their franchise business to that level which they wouldn't have had been able to without the expert guidance of their franchisors.(1)

World Fund Pages
A mutual fund is a professionally-managed firm of collective investments that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities. In a mutual fund, the fund manager, who is also known as the portfolio manager, trades the fund's underlying securities, realizing capital gains or losses, and collects the dividend or interest income. The investment proceeds are then passed along to the individual investors. The value of a share of the mutual fund, known as the net asset value per share (NAV), is calculated daily based on the total value of the fund divided by the number of shares currently issued and outstanding.(1)

World Funding Pages
A venture capital fund is a pooled investment vehicle (often a limited partnership) that primarily invests the financial capital of third-party investors in enterprises that are too risky for the standard capital markets or bank loans. Venture capital can also include managerial and technical expertise. Most venture capital comes from a group of wealthy investors, investment banks and other financial institutions that pool such investments or partnerships. This form of raising capital is popular among new companies, or ventures, with limited operating history, who cannot raise funds through a debt issue. The downside for entrepreneurs is that venture capitalists usually get a say in company decisions, in addition to a portion of the equity.This need for high returns makes venture funding an expensive capital source for companies, and most suitable for businesses having large up-front capital requirements which cannot be financed by cheaper alternatives such as debt. That is most commonly the case for intangible assets such as software, and other intellectual property, whose value is unproven. This explains why venture capital is most prevalent in the fast-growing technology and life sciences or biotechnology fields.(1)

World Fundraising Pages
Fundraising is the process of soliciting and gathering money or other gifts in-kind, by requesting donations from individuals, businesses, charitable foundations, or governmental agencies. Although fundraising typically refers to efforts to gather funds for non-profit organizations, it is sometimes used to refer to the identification and solicitation of investors or other sources of capital for-profit enterprises. Fundraising is the primary way that non-profit organizations obtain the money for their operations. These operations can involve a very broad array of concerns such as religious or philanthropic groups such as research organizations, public broadcasters, and political campaigns.Some examples of charitable organizations include student scholarship merit awards for athletic or academic achievement, humanitarian concerns, disaster relief, human rights, research, and other social issues.(1)

World Gold Markets
Gold has been known and highly-valued since prehistoric times. It may have been the first metal used by humans and was valued for ornamentation and rituals. Egyptian hieroglyphs from as early as 2600 BC describe gold, which king Tushratta of the Mitanni claimed was "more plentiful than dirt" in Egypt.Egypt and Nubia had the resources to make them major gold-producing areas for much of history. Large mines also occurred across the Red Sea in what is now Saudi Arabia. Gold is also mentioned frequently in the Old Testament, starting with Genesis 2:11 (at Havilah) and is included with the gifts of the magi in the first chapters of Matthew New Testament. The Book of Revelation 21:21 describes the city of New Jerusalem as having streets "made of pure gold, clear as crystal". The south-east corner of the Black Sea was famed for its gold. Exploitation is said to date from the time of Midas, and this gold was important in the establishment of what is probably the world's earliest coinage in Lydia between 643 and 630 BC.(1)

World Insurance Pages
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. Insurer is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage.Turning to insurance in the modern sense (i.e., insurance in a modern money economy, in which insurance is part of the financial sphere), early methods of transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively. Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen. (1)

World Investment Pages
Investment or investing is a term with several closely-related meanings in business management, finance and economics, related to saving or deferring consumption. An asset is usually purchased, or equivalently a deposit is made in a bank, in hopes of getting a future return or interest from it. The word originates in the Latin "vestis", meaning garment, and refers to the act of putting things (money or other claims to resources) into others' pockets.The term "investment" is used differently in economics and in finance. Economists refer to a real investment (such as a machine or a house), while financial economists refer to a financial asset, such as money that is put into a bank or the market, which may then be used to buy a real asset.(1)

World Leasing Pages
Leasing is a common method by which airlines acquire their aircraft, usually from companies specialised in the field of Commercial Aircraft Sales and Leasing. Aircraft leasing transactions are typically divided into finance leasing and operating leasing.Businesses often choose to lease rather than buy office equipment, including computers. Since office equipment depreciates rapidly, leasing can be more cost-efficient than ownership.In addition, more and more unconventional items are becoming available for lease, such as handbags and luxury watches.There are two principal types of leasing, depending upon the party taking the risk of the value of the vehicle (or other leased property) at lease end. In the U.S. this is called Closed-end leasing. In other jurisdictions, it is called hire purchase, lease purchase or finance leasing.(1)

World Lending Pages
Lendings to stable financial entities such as large companies or governments are often termed "risk free" or "low risk" and made at a so-called "risk-free interest rate". This is because the debt and interest are highly unlikely to be defaulted. A good example of such risk-free interest is a US Treasury security - it yields the minimum return available in economics, but investors have the comfort of the (almost) certain expectation that the US Treasury will not default on its debt instruments. A risk-free rate is also commonly used in setting floating interest rates, which are usually calculated as the risk-free interest rate plus a bonus to the creditor based on the creditworthiness of the debtor (in other words, the risk of him defaulting and the creditor losing the debt). In reality, no lending is truly risk free, but borrowers at the "risk free" rate are considered the least likely to default.(1)

World Loan Pages
A loan is a type of debt. All material things can be lent but this article focuses exclusively on monetary loans. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.The borrower initially receives an amount of money from the lender, which they pay back, usually but not always in regular installments, to the lender. This service is generally provided at a cost, referred to as interest on the debt. A borrower may be subject to certain restrictions known as loan covenants under the terms of the loan.Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding. Bank loans and credit are one way to increase the money supply.Legally, a loan is a contractual promise of a debtor to repay a sum of money in exchange for the promise of a creditor to give another sum of money.(1)

World Merger Pages
A merger is a tool used by companies for the purpose of expanding their operations often aiming at an increase of their long term profitability. There are 15 different types of actions that a company can take when deciding to move forward using M&A. Usually mergers occur in a consensual (occurring by mutual consent) setting where executives from the target company help those from the purchaser in a due diligence process to ensure that the deal is beneficial to both parties. Acquisitions can also happen through a hostile takeover by purchasing the majority of outstanding shares of a company in the open market against the wishes of the target's board. In the United States, business laws vary from state to state whereby some companies have limited protection against hostile takeovers.(1)

World Money Pages
In finance, the money market is the global financial market for short-term borrowing and lending. It provides short-term liquid funding for the global financial system. The money market is where short-term obligations such as Treasury bills, commercial paper and bankers' acceptances are bought and sold.The money market consists of financial institutions and dealers in money or credit who wish to either borrow or lend. Participants borrow and lend for short periods of time, typically up to thirteen months. Money market trades in short term financial instruments commonly called "paper". This contrasts with the capital market for longer-term funding, which is supplied by bonds and equity.(1)

World Mortgage Pages
A mortgage is a method of using property (real or personal) as security for the performance of an obligation, usually the payment of a debt.The term mortgage (from old French, lit. dead pledge refers to the legal device used for this purpose, but it is also commonly used to refer to the debt secured by the mortgage, the mortgage loan.In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than other property (such as ships) and in some cases only land may be mortgaged. Arranging a mortgage is seen as the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately. See mortgage loan for residential mortgage lending, and commercial mortgage for lending against commercial property.In many countries it is normal for home purchases to be funded by a mortgage. In countries where the demand for home ownership is highest, strong domestic markets have developed, notably in Spain, the United Kingdom, and the United States.(1)

World Options Pages
Options are financial instruments that convey the right, but not the obligation, to engage in a future transaction on some underlying security. For example, buying a call option provides the right to buy a specified quantity of a security at a set strike price at some time on or before expiration, while buying a put option provides the right to sell. Upon the option holder's choice to exercise the option, the party who sold, or wrote, the option must fulfill the terms of the contract.Exchange-traded options form an important class of options which have standardized contract features and trade on public exchanges, facilitating trading among independent parties. Over-the-counter options are traded between private parties, often well-capitalized institutions, that have negotiated separate trading and clearing arrangements with each other. Another important class of options, particularly in the U.S., are employee stock options, which are awarded by a company to their employees as a form of incentive compensation.Other types of options exist in many financial contracts, for example real estate options are often used to assemble large parcels of land, and prepayment options are usually included in mortgage loans. However, many of the valuation and risk management principles apply across all financial options.(1)

World Payroll Pages
The term 'payroll' encompasses every employee of a company who receives a regular wage or other compensation. Some employees may be paid a steady salary while others are paid for hours worked or the number of items produced. All of these different payment methods are calculated by a payroll specialist and the appropriate paychecks are issued. Companies often use objective measuring tools such as timecards or timesheets completed by supervisors to determine the total amount of payroll due each pay period.After a payroll accountant multiplies an employee's hours by his or her pay rate, the gross income amount is entered into a calculator or computer program. Regular deductions such as tax withholdings, FICA payments (social security), medical insurance, union dues, charitable contributions and so on are then categorized and subtracted. The remaining balance is then converted to a check and becomes the employee's net pay for that time period. Payroll departments also identify the employer and employees by a federal code and keep a running tally on total income and deductions for the fiscal year.Source : wisegeek.com

World Oil Pages
Oil is a non-scientific term used to refer to certain diverse and unrelated compounds sharing the same physical properties (such as viscosity and a hydrophobic nature), while ignoring related compounds. The compounds found in cooking oil are chemically very similar, almost identical, to those found in butter and very different from those found in diesel fuel, but while diesel is an oil, butter is not. Indeed diesel is once again very similar to natural gas, but gas is certainly not oil. This disparity stems partly from the fact that oils must be liquid at room temperature, and thus only certain liquid chemicals in many unrelated families are recognised, collectively, as 'oil'. Scientists, instead of using the term 'oil', adopt the terms lipids and other terms to denote them instead.(1)

World Petroleum Pages
Petroleum is used mostly, by volume, for producing fuel oil and gasoline (petrol), both important "primary energy" sources.84% by volume of the hydrocarbons present in petroleum is converted into energy-rich fuels (petroleum-based fuels), including gasoline, diesel, jet, heating, and other fuel oils, and liquefied petroleum gas.Due to its high energy density, easy transportability and relative abundance, it has become the world's most important source of energy since the mid-1950s. Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics; the 16% not used for energy production is converted into these other materials.

World Petroleum Markets
Consumption is currently around 84 million barrels per day, or 3.6 km³ per year. Because the energy return over energy invested (EROEI) ratio of oil is constantly falling as petroleum recovery gets more difficult, recoverable oil reserves are significantly less than total oil-in-place. At current consumption levels, and assuming that oil will be consumed only from reservoirs, known recoverable reserves would be gone around 2039, potentially leading to a global energy crisis. However, there are factors which may extend or reduce this estimate, including the rapidly increasing demand for petroleum in China, India, and other developing nations; new discoveries; energy conservation and use of alternative energy sources; and new econonomically viable exploitation of non-conventional oil sources.(1)

World Platinum Pages
Platinum is an extremely rare metal, occurring as only 0.003 ppb in the Earth's crust, and is 30 times rarer than gold. If all the world's platinum reserves were poured into one Olympic-size swimming pool, it would be just deep enough to cover one's ankles. Gold would fill more than three such pools. In 2005, South Africa was the top producer of platinum with an almost 80% share followed by Russia and Canada, reports the British Geological Survey.Platinum's wear- and tarnish-resistance characteristics are well suited for making fine jewelry. Platinum is more precious than gold. The price of platinum changes along with its availability, but its price is normally more than 200% of the price of gold.

World Platinum Markets
Platinum is an extremely rare metal, occurring as only 0.003 ppb in the Earth's crust, and is 30 times rarer than gold. If all the world's platinum reserves were poured into one Olympic-size swimming pool, it would be just deep enough to cover one's ankles. Gold would fill more than three such pools. In 2005, South Africa was the top producer of platinum with an almost 80% share followed by Russia and Canada, reports the British Geological Survey.Platinum's wear- and tarnish-resistance characteristics are well suited for making fine jewelry. Platinum is more precious than gold. The price of platinum changes along with its availability, but its price is normally more than 200% of the price of gold.

World Scholarship Pages
A scholarship is an award of access to an institution, or a financial aid award for an individual student scholar, for the purpose of furthering their education. Scholarships are awarded based on a range of criteria which usually reflect the values and purposes of the donor or founder of the award.Some scholarships have a bond requirement. Recipients may be required to work for a particular employer for a specified period of time, or to work in rural or remote areas; otherwise they may be required to repay the value of the support they received from the scholarship. This is particularly the case with teacher training scholarships and currently with health and medical education scholarships for people from or prepared to work in rural and remote areas in Australia. The programs offered by the uniformed services of the United States (Army, Navy, Marine Corps, Air Force, Coast Guard, National oceanic and atmospheric administration commissioned corps, and Public Health Service Commissioned Corps) sometimes resemble such scholarships.(1)

World Silver Pages
Silver is found in native form, alloyed with gold or combined with sulfur, arsenic, antimony or chlorine in ores such as argentite (Ag2S), horn silver (AgCl), and pyrargyrite (Ag3SbS3). The principal sources of silver are the ores of copper, copper-nickel, lead, and lead-zinc obtained from Peru, Mexico, China, and Australia. Peru and Mexico have been mining silver since 1546 and are still major world producers.The metal can also be produced during the electrolytic refining of copper and by application of the Parkes process on lead metal obtained from lead ores that contain small amounts of silver. Commercial-grade fine silver is at least 99.9% pure silver, and purities greater than 99.999% are available. In 2005, Peru was the top producer of silver with almost one-seventh world share, closely followed by Mexico, according to the British Geological Survey.(1)

World Silver Markets
Over the last 100 years the price of silver and the gold/silver price ratio have fluctuated greatly due to competing industrial and store-of-value demands. In 1980 the silver price rose to an all-time high of US$49.45 per troy ounce. By December 2001 the price had dropped to US$4.15 per ounce, and in May 2006 it had risen back as high as US$15.21 per ounce. As of 2006, silver prices (and most other metal prices) have been rather volatile, for example, quickly dropping from the May high of US$15.21 per ounce to a June low of US$9.60 per ounce before rising back above US$12.00 per ounce by August.(1)

World Solar Pages
Solar energy is energy directly from the Sun. This energy drives the climate and weather and supports virtually all life on Earth. Heat and light from the sun, along with solar-based resources such as wind and wave power, hydroelectricity and biomass, account for most of the available flow of renewable energy.Solar energy technologies harness the sun's energy for practical ends. These technologies date from the time of the early Greeks, Native Americans and Chinese, who warmed their buildings by orienting them toward the sun. Modern solar technologies provide heating, lighting, electricity and even flight.Solar power is used synonymously with solar energy or more specifically to refer to the conversion of sunlight into electricity. This can be done either through the photovoltaic effect or by heating a transfer fluid to produce steam to run a generator.(1)

World Solar Market
There are many technologies for harnessing solar energy. Applications span through the residential, commercial, industrial, agricultural and transportation sectors. Solar energy can be used to produce food, heat, light and electricity. The flexibility of solar energy is manifest in a wide variety of technologies such as cars, calculators, etc.A solar cell or photovoltaic cell is a device that converts light into electricity using the photoelectric effect. Investors worldwide have paid much greater attention to the renewable energy industry in recent years. In many cases, this has translated into rapid renewable energy commercialization and considerable industry expansion. The wind power industry and solar photovoltaics (PV) industry provide good examples of this.By mid-2007, some 140 publicly-traded renewable energy companies worldwide (or renewable energy divisions of major companies) each had a market capitalization greater than $40 million. (The number of companies in this category jumped from about 85 in mid-2006.) The estimated total market capitalization of these companies and divisions was more than $100 billion in mid-2007.(1)

World Soybean Pages
Soybeans are native to east Asia, but 45 percent of the world’s soybean area, and 55 percent of production, is in the United States. The U.S. produced 75 million metric tons of soybeans in 2000, of which more than one-third was exported. Other leading producers are Brazil, Australia, Argentina, China, and India.Among the legumes, the soybean, also classed as an oilseed, is pre-eminent for its high (38–45%) protein content as well as its high (20%) oil content. Soybeans are the leading agricultural export in the United States. The bulk of the soybean crop is grown for oil production, with the high-protein defatted and "toasted" soy meal used as livestock feed. A smaller percentage of soybeans are used directly for human consumption.(1)

World Soybean Markets
The beans can be processed in a variety of ways. Common forms of soy (or soya) include soy meal, soy flour, soy milk, tofu, textured vegetable protein (TVP, which is made into a wide variety of vegetarian foods, some of them intended to imitate meat), tempeh, soy lecithin and soybean oil. Soybeans are also the primary ingredient involved in the production of soy sauce (or shoyu). Archer Daniels Midland (ADM) is among the largest processors of soybeans and soy products. ADM along with Dow Chemical Company, DuPont and Monsanto support the industry trade associations United Soybean Board (USB) and Soyfoods Association of North America (SANA). These trade associations have increased the consumption of soy products dramatically in recent years.(1)

World Tax Pages
Funds provided by taxation have been used by states and their functional equivalents throughout history to carry out many functions. Some of these include expenditures on war, the enforcement of law and public order, protection of property, economic infrastructure (roads, legal tender, enforcement of contracts, etc.), public works, social engineering, and the operation of government itself. Most modern governments also use taxes to fund welfare and public services. These services can include education systems, health care systems, pensions for the elderly, unemployment benefits, and public transportation. Energy, water and waste management systems are also common public utilities. Colonial and moderning states have also used cash taxes to draw or force reluctant subsistence producers into cash economies.(1)

World Wealth Pages
Wealth has come to mean an abundance of items of economic value, or the state of controlling or possessing such items, and encompasses money, real estate and personal property. In many countries wealth is also measured by reference to access to essential services such as health care, or the possession of crops and livestock. An individual who is wealthy, affluent, or rich is someone who has accumulated substantial wealth relative to others in their society or reference group. In economics, wealth refers to the value of assets owned minus the value of liabilities owed at a point in time.(1)

World Wheat Pages
100 grams of hard red winter wheat contain about 12.6 grams of protein, 1.5 grams of total fat, 71 grams of carbohydrate (by difference), 12.2 grams of dietary fiber, and 3.2 mg of iron (17% of the daily requirement); the same weight of hard red spring wheat contains about 15.4 grams of protein, 1.9 grams of total fat, 68 grams of carbohydrate (by difference), 12.2 grams of dietary fiber, and 3.6 mg of iron (20% of the daily requirement).Raw wheat berries can be powdered into flour, germinated and dried creating malt, crushed and de-branned into cracked wheat, parboiled