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Wiki Wiki Summary
Impacts of tourism Tourism brings both positive and negative impacts on tourist destinations. The traditionally-described domains of tourism impacts are economic, socio-cultural, and environmental dimensions.
Economic impact of the 2022 Russian invasion of Ukraine The economic impact of the 2022 Russian invasion of Ukraine began in late February 2022, in the days after the Russian Federation recognized two break-away Ukrainian republics and commenced a war in Ukraine. The subsequent economic sanctions have targeted large parts of the Russian economy, Russian oligarchs, and members of the Russian government.
Business-to-business Business-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when:\n\nA business is sourcing materials for their production process for output (e.g., a food manufacturer purchasing salt), i.e.
Adverse possession Adverse possession, sometimes colloquially described as "squatter's rights", is a legal principle in the Anglo-American common law under which a person who does not have legal title to a piece of property—usually land (real property)—may acquire legal ownership based on continuous possession or occupation of the property without the permission (licence) of its legal owner. The possession by a person is not adverse if they are in possession as a tenant or licensee of the legal owner.
Adverse (film) Adverse is a 2020 American crime thriller film written and directed by Brian Metcalf and starring Thomas Nicholas, Lou Diamond Phillips, Sean Astin, Kelly Arjen, Penelope Ann Miller, and Mickey Rourke. It premiered at the Fantasporto Film Festival, Portugal's largest film festival, on February 28, 2020.
Commonwealth A commonwealth is a traditional English term for a political community founded for the common good. Historically, it has been synonymous with "republic".
Compound interest Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest. It is the result of reinvesting interest, or adding it to the loaned capital rather than paying it out, or requiring payment from borrower, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.
Real interest rate The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation. It can be described more formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate.
Interest rate parity Interest rate parity is a no-arbitrage condition representing an equilibrium state under which investors interest rates available on bank deposits in two countries. The fact that this condition does not always hold allows for potential opportunities to earn riskless profits from covered interest arbitrage.
Neutral rate of interest The neutral rate of interest, sometimes called the natural rate of interest, is the real (net of inflation) interest rate that supports the economy at full employment/maximum output while keeping inflation constant. It cannot be observed directly.
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Income statement An income statement or profit and loss account (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) is one of the financial statements of a company and shows the company's revenues and expenses during a particular period.It indicates how the revenues (also known as the “top line”) are transformed into the net income or net profit (the result after all revenues and expenses have been accounted for). The purpose of the income statement is to show managers and investors whether the company made money (profit) or lost money (loss) during the period being reported.
List of entertainment affected by the September 11 attacks The September 11 attacks in the United States in 2001 had a significant impact on broadcast and venue entertainment businesses, prompting cancellations, postponements, and changes in content. In the United States and several other countries, planned television screenings of films and fictional programs where terrorism, plane crashes, bombs, or other related disasters that were the primary subject were postponed or cancelled.
Conditions races Conditions races are horse races in which the weights carried by the runners are laid down by the conditions attached to the race. Weights are allocated according to the sex of the runners, with female runners carrying less weight than males; the age of the runners, with younger horses receiving weight from older runners to allow for relative maturity, referred to as weight for age; and the quality of the runners, with horses that have won certain values of races giving weight to less successful entrants.
Regulatory state The term regulatory state refers to the expansion in the use of rulemaking, monitoring and enforcement techniques and institutions by the state and to a parallel change in the way its positive or negative functions in society are being carried out. The expansion of the state nowadays is generally via regulation and less via taxing and spending.
Regulatory sequence A regulatory sequence is a segment of a nucleic acid molecule which is capable of increasing or decreasing the expression of specific genes within an organism. Regulation of gene expression is an essential feature of all living organisms and viruses.
Requirements elicitation In requirements engineering, requirements elicitation is the practice of researching and discovering the requirements of a system from users, customers, and other stakeholders. The practice is also sometimes referred to as "requirement gathering".
Bitwise operation In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Operations management Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements.
Surgery Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Adverse party An adverse party is an opposing party in a lawsuit under an adversary system of law. In general, an adverse party is a party against whom judgment is sought or "a party interested in sustaining a judgment or decree." For example, the adverse party for a defendant is the plaintiff.
Mergers and acquisitions In corporate finance, mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position.
Knife legislation Knife legislation is defined as the body of statutory law or case law promulgated or enacted by a government or other governing jurisdiction that prohibits, criminalizes, or restricts the otherwise legal manufacture, importation, sale, transfer, possession, transport, or use of knives.The carrying of knives in public is forbidden or restricted by law in many countries. Exceptions may be made for hunting knives, pocket knives, and knives used for work-related purposes (chef's knives, etc.), depending upon the laws of a given jurisdiction.
Rider (legislation) In legislative procedure, a rider is an additional provision added to a bill or other measure under the consideration by a legislature, having little connection with the subject matter of the bill.Some scholars identify riders as a specific form of logrolling, or as implicit logrolling. Others distinguish riders from logrolling.
Cyberstalking legislation Cyberstalking and cyberbullying are relatively new phenomena, but that does not mean that crimes committed through the network are not punishable under legislation drafted for that purpose. Although there are often existing laws that prohibit stalking or harassment in a general sense, legislators sometimes believe that such laws are inadequate or do not go far enough, and thus bring forward new legislation to address this perceived shortcoming.
Laplace's demon In the history of science, Laplace's demon was a notable published articulation of causal determinism on a scientific basis by Pierre-Simon Laplace in 1814. According to determinism, if someone (the demon) knows the precise location and momentum of every atom in the universe, their past and future values for any given time are entailed; they can be calculated from the laws of classical mechanics.This idea states that “free will” is merely an illusion, and that every action previously taken, currently being taken, or that will take place was destined to happen from the instant of the big bang.
Perfect competition In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In theoretical models where conditions of perfect competition hold, it has been demonstrated that a market will reach an equilibrium in which the quantity supplied for every product or service, including labor, equals the quantity demanded at the current price.
Convex optimization Convex optimization is a subfield of mathematical optimization that studies the problem of minimizing convex functions over convex sets. Many classes of convex optimization problems admit polynomial-time algorithms, whereas mathematical optimization is in general NP-hard.Convex optimization has applications in a wide range of disciplines, such as automatic control systems, estimation and signal processing, communications and networks, electronic circuit design, data analysis and modeling, finance, statistics (optimal experimental design), and structural optimization, where the approximation concept has proven to be efficient.
Going concern A going concern is a business that is assumed will meet its financial obligations when they fall due. It functions without the threat of liquidation for the foreseeable future, which is usually regarded as at least the next 12 months or the specified accounting period (the longer of the two).
Trustmark (bank) Trustmark is a commercial bank and financial services company headquartered in Jackson, Mississippi, United States, with subsidiaries Trustmark National Bank, Trustmark Investment Advisors, and Fisher Brown Bottrell Insurance. The bank's initial predecessor, The Jackson Bank, was chartered by the State of Mississippi in 1889.
Abstract syntax tree In computer science, an abstract syntax tree (AST), or just syntax tree, is a tree representation of the abstract syntactic structure of text (often source code) written in a formal language. Each node of the tree denotes a construct occurring in the text.
Strategic studies Strategic studies is an interdisciplinary academic field centered on the study of conflict and peace strategies, often devoting special attention to the relationship between international politics, geostrategy, international diplomacy, international economics, and military power. In the scope of the studies are also subjects such as the role of intelligence, diplomacy, and international cooperation for security and defense.
Public interest law Public interest law refers to legal practices undertaken to help poor, marginalized, or under-represented people, or to effect change in social policies in the public interest, on 'not for profit' terms (pro bono publico), often in the fields of civil rights, civil liberties, religious liberty, human rights, women's rights, consumer rights, environmental protection, and so on.In a celebrated 1905 speech, Louis Brandeis decried the legal profession, complaining that "able lawyers have to a large extent allowed themselves to become adjuncts of great corporations and have neglected their obligation to use their powers for the protection of the people."In the tradition thus exemplified, a common ethic for public-interest lawyers in a growing number of countries remains "fighting for the little guy".\n\n\n== By jurisdiction ==\n\n\n=== Central and Eastern Europe ===\nAt the end of the communist period in the early 1990s, the national legal systems of Central and Eastern Europe were still in a formative stage.
Language acquisition Language acquisition is the process by which humans acquire the capacity to perceive and comprehend language (in other words, gain the ability to be aware of language and to understand it), as well as to produce and use words and sentences to communicate.\nLanguage acquisition involves structures, rules and representation.
Target acquisition Target acquisition is the detection and identification of the location of a target in sufficient detail to permit the effective employment of lethal and non-lethal means. The term is used for a broad area of applications.
Resource acquisition is initialization Resource acquisition is initialization (RAII) is a programming idiom used in several object-oriented, statically-typed programming languages to describe a particular language behavior. In RAII, holding a resource is a class invariant, and is tied to object lifetime.
Proposed acquisition of Twitter by Elon Musk On April 14, 2022, business magnate Elon Musk offered to purchase American social media company Twitter, Inc., for $43 billion, after previously acquiring 9.1 percent of the company's stock for $2.64 billion, becoming its largest shareholder. Twitter had then invited Musk to join their board of directors, which Musk at first accepted before subsequently declining.
Risk Factors
FIRST COMMONWEALTH FINANCIAL CORP /PA/ ITEM 1A Risk Factors The following are risks that management believes are specific to our business and could have a negative impact to First Commonwealthapstas financial performance
This list should not be viewed as all risks to First Commonwealth: * Adverse changes in the economy or business conditions, either nationally or in First Commonwealthapstas market areas, could increase credit-related losses and expenses and/or limit growth
The inability of borrowers to repay loans could erode our earnings and capital
Substantially all of our loans are to businesses and individuals in Pennsylvania, and any economic decline in this market area could impact us adversely
* Increases in defaults by borrowers and other delinquencies could result in increases in First Commonwealthapstas provision for losses on loans and related expenses
As a lender, First Commonwealth is exposed to the risk that our borrowers may be unable to repay their loans and that collateral securing the payment of their loans may not be sufficient to assure repayment
Credit losses are inherent in the lending business and could have a material adverse effect on the operating results of First Commonwealth
First Commonwealth makes various assumptions and judgments about the collectibility of our loan portfolio and provides an allowance for potential losses based on a number of factors
If these assumptions are incorrect, the allowance for credit losses may not be sufficient to cover losses, thereby having an adverse effect on operating results, and may cause us to increase the allowance in the future
8 ______________________________________________________________________ FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES ITEM 1A Risk Factors (Continued) * Fluctuations in interest rates and market prices could reduce net interest margin and asset valuations and increase expenses
First Commonwealthapstas profitability is largely a function of the spread between the interest rates earned on earning assets and the interest rates paid on deposits and other interest-bearing liabilities
First Commonwealthapstas net interest income and margin will be affected by general economic conditions and other factors, including fiscal and monetary policies of the federal government, that influence market interest rates and the companyapstas ability to respond to changes in such rates
At any given time, First Commonwealthapstas assets and liabilities may be such that they are affected differently by a change in interest rates
As a result, an increase or decrease in rates, the length of loan terms or the mix of adjustable and fixed rate loans in our portfolio could have a positive or negative effect on our net income, capital and liquidity
* Changes in legislative or regulatory requirements applicable to First Commonwealth and its subsidiaries could increase costs, limit certain operations and adversely affect results of operations
The banking industry is heavily regulated under both federal and state law
Banking regulations, designed primarily for the safety of depositors, may limit a financial institutionapstas growth and the return to its investors, by restricting such activities as the payment of dividends, mergers with or acquisitions by other institutions, expansion of branch offices and the offering of securities or trust services
First Commonwealth is also subject to capitalization guidelines established by federal law and could be subject to enforcement actions to the extent that its subsidiary bank is found by regulatory examiners to be undercapitalized
It is not possible to predict what changes, if any, will be made to existing federal and state legislation and regulations or the effect that such changes may have on our future business and earnings prospects, as well as those of First Commonwealth
First Commonwealth also cannot predict the nature or the extent of the effect on our business and earnings of new federal or state legislation
Further, the cost of compliance with regulatory requirements may adversely affect our ability to operate profitably
* First Commonwealthapstas business and financial condition may be adversely affected by an increase in competition
First Commonwealth faces significant competition in attracting and retaining deposits and making loans as well as in providing other financial services throughout our market area
In addition to facing pricing competition for loans and deposits, First Commonwealth also faces competition with respect to customer convenience, product lines, accessibility of service and service capabilities
First Commonwealthapstas competition comes from other banks and savings institutions, brokerages, credit unions, government-sponsored enterprises, mutual fund companies, insurance companies and other non-bank businesses
9 ______________________________________________________________________ FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES ITEM 1A Risk Factors (Continued) * First Commonwealthapstas branch optimization plan may not produce desired results
First Commonwealthapstas branch optimization plan has resulted in eight newly constructed or renovated branch offices over the past year and is expected to result in ten more over the next year
These changes could involve significant expenses, which may exceed forecasted costs
Several of these new constructions involve de novo branch offices
For a de novo branch office, the period of time that it takes to achieve profitability could exceed our forecasted expectations resulting in higher operating expenses relative to operating income
* Changes in accounting standards could materially impact First Commonwealthapstas financial statements
From time to time the Financial Accounting Standards Board changes the financial accounting and reporting standards that govern the preparation of our financial statements
These changes can be hard to predict and can materially impact how we record and report our financial condition and results of operations
In some cases, First Commonwealth could be required to apply a new or revised standard retroactively, resulting in our restating prior period financial statements
First Commonwealth cannot predict the nature or the extent of the effect on our business and earnings of these changes in accounting standards
* New litigation or changes in current litigation could adversely affect First Commonwealthapstas financial condition or results of operation
Although there is currently no material litigation to which First Commonwealth is the subject, future litigation that arises during the normal course of business could be material and have a negative impact on First Commonwealthapstas earnings
Future litigation or changes in current litigation could also adversely impact the reputation of First Commonwealth in the communities that it serves
* Future acquisitions that First Commonwealth chooses to pursue could place heavy demands on our employees, disrupt our business and cause us to not realize expected earnings
10 ______________________________________________________________________ FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES ITEM 1A Risk Factors (Continued) First Commonwealth cannot predict the number, size or timing of acquisitions that we will undertake in future periods
Federal and state regulatory approval must generally be received before the company could acquire a bank or bank holding company
First Commonwealth cannot be certain when or if, or on what terms and conditions, any required regulatory approvals would be granted
First Commonwealth could be required to sell banks or branches as a condition to receiving regulatory approval
Difficulty in integrating an acquired company could cause First Commonwealth not to realize expected revenue increases, cost savings, increases in geographic or product presence, and/or other projected benefits from the acquisition
The integration could result in higher than expected deposit attrition (run-off), loss of key employees, disruption of our business or the business of the acquired company, or otherwise adversely affect our ability to maintain relationships with customers and employees or achieve the anticipated benefits of the acquisition
Also, the negative effect of any divestitures required by regulatory authorities in acquisitions or business combinations could be greater than expected