Portal:Business

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company such as a corporationorcooperative. Colloquially, the terms are used interchangeably. (Full article...)

Carucage was a medieval English land tax introduced by King Richard I in 1194, based on the size—variously calculated—of the estate owned by the taxpayer. It was a replacement for the danegeld, last imposed in 1162, which had become difficult to collect because of an increasing number of exemptions. Carucage was levied just six times: by Richard in 1194 and 1198; John, his brother and successor, in 1200; and John's son, Henry III, in 1217, 1220, and 1224, after which it was replaced by taxes on income and personal property.

Carucage was an attempt to secure new sources of revenue in order to supplement and increase royal income in a time when new demands were being made on royal finances. Although derived from the older danegeld, carucage was an experiment in revenue collection, but it was only levied for specific purposes, rather than as a regularly assessed tax. Also new was the fact later collections were imposed with the consent of the barons. However, the main flow of royal income was from other sources, and carucage was not collected again after 1224.

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The economyofRussia has gradually transformed from a planned economy into a mixed market-oriented economy. It is classified by the World Bank as a high-income country. It has enormous allocations of natural resources, particularly in terms of Russian natural gas and oil reserves, and thus significant economic power exists in its exports. In 2023, it was the world's 11th-largest economy by nominal GDP, 6th-largestbypurchasing power parity (PPP) according to IMF, and 5th-largest according to World Bank. But in 2024 it turned out that World Bank uses obsolete data and in fact Russia was 4th-largest by PPP since 2021 and ever since. Due to a volatile currency exchange rate, Russia's GDP as measured in dollars fluctuates sharply. Russia was the last major economy to join the World Trade Organization (WTO), becoming a member in 2012.

Russia's vast geography is an important determinant of its economic activity, with the country holding a large share of the world's natural resources. It has been widely described as an energy superpower; as it has the world's largest natural gas reserves, 2nd-largest coal reserves, 8th-largest oil reserves, and the largest oil shale reserves in Europe. It is the world's leading natural gas exporter, the 2nd-largest natural gas producer, the 2nd-largest oil exporter and producer and third largest coal exporter. Russia's foreign exchange reserves are the world's 5th-largest. It has a labour force of roughly 70 million people, which is the world's 7th-largest. Russia is the world's 3rd-largest exporter of arms. The oil and gas sector accounted up to roughly 34% of Russia's federal budget revenues, and up to 54% of its exports in 2021. (Full article...)

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Arguably, in expectation, a dentist is considerably richer than the rock musician who is driven in a pink Rolls Royce, the speculator who bids up the price of impressionist paintings, or the entrepreneur who collects private jets. For one cannot consider a profession without taking into account the average of the people who enter it, not the sample of those who have succeeded in it. We will examine the point later from the vantage point of the survivorship bias, but here, in Part I, we will look at it with respect to resistance to randomness."

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On this day in business history

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Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)

Plaque in London commemorating Jewish entrepreneur Sir Jack Cohen who in 1919 founded Tesco, the largest supermarket chain in the UK. (from Entrepreneurship)

Lindley LJ was the leading expert on partnerships and company law in the Salomon v. Salomon & Co. case. The landmark case confirmed the distinct corporate identity of the company. (from Corporation)

1/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)

McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)

In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. (from Entrepreneurship)

Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)

Image 8Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)

Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)

Time required to start a business in 2017 (from Business)

Offices in the Los Angeles Downtown Financial District (from Business)

"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844 (from Corporation)