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Banco Espírito Santo
Banco Espírito Santo (, BES) was a Portugal, Portuguese bank based in Lisbon that on 3 August 2014 was split in two banks: Novo Banco, which kept its healthy operations, and a "bad bank" to keep its toxic assets. It once was the second-largest listed Portuguese bank and the ninth-largest contributor to the PSI-20 index. BES was the second-largest private financial institution in Portugal in terms of net assets (€80,700 million in March 2011), with an average market share of 20.3% in Portugal and 2.1 million clients. On 3 August 2014, Banco de Portugal, Portugal's central bank, intervened in the bank by applying resolution measurethat split the bank in two. The bank was split into a healthy bank ("good bank"), Novo Banco, while the toxic assets remained in the existing bank ("bad bank") which entered into liquidation in 13 July 2016. Novo Banco received a €4.9 billion bailout to be recapitalized. The bailout was funded by the Portuguese Resolution Fund (), to which the Portu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Novo Banco
Novo Banco, SA, trading as Novobanco (, ), is a major Portuguese financial bank headquartered in Lisbon, Portugal. Following the entry into force of European Banking Supervision in late 2014, Novobanco has been designated as a Significant Institution and is supervised by the European Central Bank. Novobanco was established on 4 August 2014, as a result of a restructuring following the bankruptcy of Banco Espírito Santo (BES) led by the Bank of Portugal to hold the bank's healthy assets. This allowed Novobanco to operate, split off from the BES's toxic assets after historic losses of 3,577 million euros. BES's toxic assets, on the other hand, were transferred to a "bad bank". History In 2017, the American fund Lone Star Funds acquired 75% of the share capital of Novobanco in return for a capital injection of €1bn, with the Portuguese Resolution Fund holding the remaining 25 per cent. As part of this sale, the European Commission, through the Directorate-General for Competitio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco De Portugal
The Banco de Portugal (, ) is the National central bank (Eurosystem), national central bank for Portugal within the Eurosystem. It was the Portuguese central bank from 1846 to 1998, issuing the Portuguese escudo, escudo. Since 2014, it has also been Portugal's national competent authority within European Banking Supervision. The bank was founded by royal charter in 1846, during the reign of Queen Maria II of Portugal, by a merger of the , the first bank founded in Portugal, and insurer ''Companhia Confiança Nacional''. The bank has branch offices in: Castelo Branco, Portugal, Castelo Branco, Coimbra, Évora, Faro, Portugal, Faro, Funchal, Leiria, Porto (Caixa Filial) and Viseu. History Foundation Queen Maria II of Portugal established the bank by royal charter on 19 November 1846 to act as a commercial bank and issuing bank. It came about as the result of a merger of the :pt:Banco de Lisboa, Banco de Lisboa, the first bank founded in Portugal, and the Companhia de Confiança ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brazil
Brazil, officially the Federative Republic of Brazil, is the largest country in South America. It is the world's List of countries and dependencies by area, fifth-largest country by area and the List of countries and dependencies by population, seventh-largest by population, with over 212 million people. The country is a federation composed of 26 Federative units of Brazil, states and a Federal District (Brazil), Federal District, which hosts the capital, Brasília. List of cities in Brazil by population, Its most populous city is São Paulo, followed by Rio de Janeiro. Brazil has the most Portuguese-speaking countries, Portuguese speakers in the world and is the only country in the Americas where Portuguese language, Portuguese is an Portuguese-speaking world, official language. Bounded by the Atlantic Ocean on the east, Brazil has a Coastline of Brazil, coastline of . Covering roughly half of South America's land area, it Borders of Brazil, borders all other countries and ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Angola
Angola, officially the Republic of Angola, is a country on the west-Central Africa, central coast of Southern Africa. It is the second-largest Portuguese-speaking world, Portuguese-speaking (Lusophone) country in both total area and List of countries and dependencies by population, population and is the List of African countries by area, seventh-largest country in Africa. It is bordered by Namibia to the south, the Democratic Republic of the Congo to the north, Zambia to the east, and the Atlantic Ocean to the west. Angola has an Enclave and exclave, exclave province, the province of Cabinda Province, Cabinda, that borders the Republic of the Congo and the Democratic Republic of the Congo. The capital and most populous city is Luanda. Angola has been inhabited since the Paleolithic, Paleolithic Age. After the Bantu expansion reached the region, states were formed by the 13th century and organised into confederations. The Kingdom of Kongo ascended to achieve hegemony among the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Partnerships
A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract. History Partnerships have a long history; they were already in use in medieval times in Europe and in the Middle East. According to a 2006 article, the first partnership was implemented in 1383 by Francesco di Marco Datini, a merchant of Prato and Florence. The Covoni company (1336–40) and the Del Buono-Bencivenni company (1336–40) have also been referred to as early partnerships, but they were not formal partnerships. In Europe, the partnerships contributed to the Commercial Revolution which started in the 13th century. In the 15th century the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Banking
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with wholesale banking to corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks. Commercial banks include private sector banks and public sector banks. However, central banks function differently from commercial banks, despite a common misconception known as the "bank analogy". Unlike commercial banks, central banks are not primarily focused on generating profits and cannot become insolvent in the same way as commercial banks in a fiat currency system. History The name ''bank'' derives from the Italian word ''banco'' 'desk/bench', used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tungsten
Tungsten (also called wolfram) is a chemical element; it has symbol W and atomic number 74. It is a metal found naturally on Earth almost exclusively in compounds with other elements. It was identified as a distinct element in 1781 and first isolated as a metal in 1783. Its important ores include scheelite and wolframite, the latter lending the element its alternative name. The free element is remarkable for its robustness, especially the fact that it has the highest melting point of all known elements, melting at . It also has the highest boiling point, at . Its density is 19.254 g/cm3, comparable with that of uranium and gold, and much higher (about 1.7 times) than that of lead. Polycrystalline tungsten is an intrinsically brittle and hard material (under standard conditions, when uncombined), making it difficult to work into metal. However, pure single-crystalline tungsten is more ductile and can be cut with a hard-steel hacksaw. Tungsten occurs in many alloys ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the world's countries participated, with many nations mobilising all resources in pursuit of total war. Tanks in World War II, Tanks and Air warfare of World War II, aircraft played major roles, enabling the strategic bombing of cities and delivery of the Atomic bombings of Hiroshima and Nagasaki, first and only nuclear weapons ever used in war. World War II is the List of wars by death toll, deadliest conflict in history, causing World War II casualties, the death of 70 to 85 million people, more than half of whom were civilians. Millions died in genocides, including the Holocaust, and by massacres, starvation, and disease. After the Allied victory, Allied-occupied Germany, Germany, Allied-occupied Austria, Austria, Occupation of Japan, Japan, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ricardo Espírito Santo
Ricardo Ribeiro do Espírito Santo Silva (1900–1955) was a Portuguese banker, economist, patron of the arts, and international athlete. A good friend of the Portuguese dictator, António de Oliveira Salazar, he turned the Banco Espírito Santo (BES) into one of the most important financial institutions in Portugal. Early life Ricardo Ribeiro do Espírito Santo e Silva was born in Cascais, Portugal, on 12 November 1900. He was the second son and third child of the wealthy money changer, José Maria do Espírito Santo Silva who, in 1883, had founded ''Silva, Beirão, Pinto & Cia''. Over time this company led to the development of other firms such as ''Espírito Santo Silva & Cia.'' which, in 1920, was transformed into ''Banco Espírito Santo'' (BES). After schooling in Edinburgh, Ricardo married Mary Pinto de Morais Sarmento Cohen (19031979), the 16-year-old daughter of a Gibraltarian financial acquaintance and half-niece of the 1st Baron of Sendal. Espírito Santo then studied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lottery
A lottery (or lotto) is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. The most common regulations are prohibition of sale to minors and licensing of ticket vendors. Although lotteries were common in the United States and some other countries during the 19th century, by the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the U.S. and most of Europe as well as many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to re-appear throughout the world as a means for governments to raise revenue without raising taxes. Lotteries come in many formats. For example, the prize can be a fixed amount of cash or goods. In this format, there is risk to the org ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
José Maria Do Espírito Santo Silva
José is a predominantly Spanish and Portuguese form of the given name Joseph. While spelled alike, this name is pronounced very differently in each of the two languages: Spanish ; Portuguese (or ). In French, the name ''José'', pronounced , is an old vernacular form of Joseph, which is also in current usage as a given name. José is also commonly used as part of masculine name composites, such as José Manuel, José Maria or Antonio José, and also in female name composites like Maria José or Marie-José. The feminine written form is ''Josée'' as in French. In Netherlandic Dutch, however, ''José'' is a feminine given name and is pronounced ; it may occur as part of name composites like Marie-José or as a feminine first name in its own right; it can also be short for the name ''Josina'' and even a Dutch hypocorism of the name ''Johanna''. In England, Jose is originally a Romano-Celtic surname, and people with this family name can usually be found in, or traced to, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
