115-578: [REDACTED] Bloomberg L.P. is an American privately held financial, software, data, and media company headquartered in Midtown Manhattan , New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda , Duncan MacMillan , Charles Zegar , and a 12% ownership investment by Bank of America through its brokerage subsidiary Merrill Lynch . Bloomberg L.P. provides financial software tools and enterprise applications such as analytics and an equity trading platform, data services, and news to financial companies and organizations through
230-703: A bachelor's degree with high honours in economics, before postgraduate studies at the University of Oxford at St Peter's College and Nuffield College , receiving master's and doctoral degrees in the same field in 1993 and 1995, respectively. Carney spent 13 years at Goldman Sachs and worked in their Boston , London , New York City , Tokyo , and Toronto offices. His progressively more senior positions included: co-head of sovereign risk; executive director, emerging debt capital markets; and managing director, investment banking. He worked on South Africa's post-apartheid venture into international bond markets, and
345-573: A "proper understanding of the facts" on bank regulation. He was thought to have been offered a total pay package of about £ 624,000 ($ 844,000 USD) per year, approximately £100,000 ($ 135,000 USD) more per year than his predecessor. Carney was appointed as United Nations special envoy for climate action and finance as he prepared to step down as governor of the Bank of England in March 2020. In January 2020, UK Prime Minister Boris Johnson appointed Carney to
460-490: A "sex hound." Olszewski also claimed that male employees at the company engaged in the "sexual degradation of women" and that the company "took no steps to prevent or curtail the ongoing sexual harassment of female employees by Michael Bloomberg." Bloomberg, on behalf of Bloomberg L.P., testified that he was made aware of the rape allegation and offered to move Olszewski into another sales unit. Bloomberg also testified that he did not find Olszewski's allegation genuine because there
575-433: A college education or higher. The percentage of Midtown Manhattan students excelling in math rose from 61% in 2000 to 80% in 2011 and reading achievement increased from 66% to 68% during the same time period. Midtown Manhattan's rate of elementary school student absenteeism is lower than the rest of New York City. In Midtown Manhattan, 19% of elementary school students missed twenty or more days per school year , less than
690-503: A custom-built Bloomberg computer terminal. The office space also includes rows of flat-panel monitors overhead that display news, market data, the weather and Bloomberg customer service statistics. Bloomberg L.P.'s Management Committee includes Michael Bloomberg , Peter Grauer , and Thomas Secunda . Between 2010 and 2017, a "pay-to-play" scheme went along between two Turner Construction executives, two Bloomberg executives; and vendors and subcontractors involving interior construction at
805-497: A day, 7 days a week. The network has taken over the channel space of the-defunct Financial News Network and hired most of the former FNN employees. Soon after, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was available to 200 million households. Justin B. Smith is CEO of Bloomberg Multimedia Group which includes Bloomberg Radio, Bloomberg Television and online components of Bloomberg's multimedia offerings. Bloomberg Markets
920-515: A low population of residents who are uninsured . In 2018, this population of uninsured residents was estimated to be 11%, slightly less than the citywide rate of 12%. The concentration of fine particulate matter , the deadliest type of air pollutant , in Midtown Manhattan is 0.0113 milligrams per cubic metre (1.13 × 10 oz/cu ft), more than the city average. Eleven percent of Midtown Manhattan residents are smokers , which
1035-419: A lower crime rate than in the 1990s, with crimes across all categories having decreased by 81.2% between 1990 and 2022. The precinct reported 8 murders, 23 rapes, 653 robberies, 502 felony assaults, 660 burglaries, 2,375 grand larcenies, and 68 grand larcenies auto in 2022. The main part of midtown Manhattan, between 34th and 59th Streets from Lexington Avenue to Eighth Avenue, is served by five fire stations of
1150-600: A major force in Midtown Manhattan's economy, and indeed the city's, as the total value of all New York City property was estimated at US$ 914.8 billion for the 2015 fiscal year . Manhattan has perennially been home to some of the nation's, as well as one of the world's, most marketable real estate, including the Time Warner Center , which had the highest-listed market value in the city in 2006 at US$ 1.1 billion, to be subsequently surpassed in October 2014 by
1265-491: A new enterprise data management service to help companies acquire, manage, and distribute data across its organizations. On December 16, 2015, it was announced that Barclays had agreed to sell its index business, Barclays Risk Analytics and Index Solutions Ltd (BRAIS), to Bloomberg L.P. for £520 million, or about $ 787 million. The company will be renamed Bloomberg Index Services Limited. In September 2014, Bloomberg sold its Bloomberg Sports analysis division to
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#17327659165951380-588: A number of private languages and music centers (e.g. Berlitz , American Language Communication Center, New York Language Center, Swan Music School, and the New York Youth Symphony ). The La Scuola d'Italia Guglielmo Marconi Italian international school moved to West Midtown in 2016. The New York Public Library (NYPL) operates the Stephen A. Schwarzman Building (also the Main Branch),
1495-966: A program aimed at creating "a 24/7, live-work, mixed-use neighborhood" in Midtown South though the conversion of commercial and office space to residential, as part of an effort to create 20,000 new residences citywide in a decade. According to The Broadway League , shows on Broadway sold approximately US$ 1.54 billion worth of tickets in both the 2022–2023 and 2023–2024 seasons. Both seasons featured theater attendance of approximately 12.3 million each. Companies that used to have their headquarters in Midtown Manhattan include American Airlines , American Comics Group , American Overseas Airlines , Central Park Media , Eastern Air Lines , GoodTimes Entertainment , LJN , NewKidCo , Pan American World Airways , Philip Morris Companies (now Altria Group ), Trans Caribbean Airways , and Trans World Airlines . In 1997, Aer Lingus announced that it
1610-413: A provider of high-performance trading systems and fixed income trading solutions. In 1992, Bloomberg L.P. purchased New York Radio station WNEW for $ 13.5 million. The station was converted into an all-news format, known as Bloomberg Radio , and the call letters were changed to WBBR. Bloomberg L.P. bought a weekly business magazine, BusinessWeek , from McGraw-Hill in 2009. The company acquired
1725-679: A reference branch at 476 Fifth Avenue. The four-story building, constructed in 1911, is known worldwide for its architecture and has several million items in its collections. There are also five circulating branches in Midtown: Two campuses of the City University of New York (CUNY)—the doctorate-granting CUNY Graduate Center and the Stella and Charles Guttman Community College —are located in Midtown, while Baruch College , also of
1840-585: A roster of over 400 delegates from around the world. Forum advisory board members include former U.S. Secretary of State Henry A. Kissinger , former U.S. Secretary of the Treasury Hank Paulson , Vice Premier of China Zeng Peiyan , Bill Gates , Mukesh Ambani , Janet Yellen , Ursula Burns , Gary Cohn , Orit Gadiesh , Walter Isaacson , Yoriko Kawaguchi , Martin Lau, Jorge Paulo Lemann , Jean Liu , Strive Masiyiwa , and others. Founding partners of
1955-454: A series of leadership changes for the company, with Chief Product Officer Vladimir Kliatchko assuming the role of CEO and Chief Operating Officer Jean-Paul Zammitt assuming the role of President. He also announced a new board of directors which would be chaired by Mark Carney , taking over from Peter Grauer and that existing board members would move to "Emeritus Status". Since its founding, Bloomberg L.P. has made several acquisitions including
2070-476: A subscription service for real-time legal research. A subscription to the service provides access to law dockets, legal filings, and reports from Bloomberg legal analysts as well as business news and information. Bloomberg Opinion , formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011. The site provides editorial content from columnists, authors and editors about news issues and
2185-526: A team of 70 people, consisting of editors, producers and social media specialists located across three bureaus in New York, London and Hong Kong. In December 2019, TicToc was renamed "QuickTake by Bloomberg" in order to avoid confusion with the social media platform TikTok . The camel case and the word "by" were later eliminated, and "Bloomberg" was moved in front of "Quicktake", although the two words do not always appear together. Bloomberg New Economy Forum
2300-490: A trio of crises—credit, Covid and climate. The title of Carney's DPhil thesis is The Dynamic Advantage of Competition . Carney published a book named "Value(s) Building a Better World for All" in 2021. It was positively reviewed by John Ivison for the National Post and by Will Hutton for The Guardian . Carney met his wife, Diana Fox, a British economist specializing in developing nations, while at
2415-737: A year. Bloomberg L.P. purchased Arlington, Virginia-based Bureau of National Affairs in August 2011, for $ 990 million to bolster its existing Bloomberg Government and Bloomberg Law services. BNA publishes specialized online and print news and information for professionals in business and government. The company produces more than 350 news publications in topic areas that include corporate law and business, employee benefits, employment and labor law, environment, health and safety, health care, human resources, intellectual property, litigation, and tax and accounting. In May 2012, Bloomberg L.P. acquired Dublin-based software provider PolarLake and launched
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#17327659165952530-471: Is 41% in Midtown Manhattan, compared to the boroughwide and citywide rates of 45% and 51% respectively. Based on this calculation, as of 2018 , Midtown Manhattan is considered to be high-income relative to the rest of the city and not gentrifying . Midtown Manhattan is patrolled by two precincts of the NYPD . Midtown North is patrolled by the 18th Precinct, located at 306 West 54th Street, while Midtown South
2645-775: Is a member of the Group of Thirty , an international body of leading financiers and academics, and of the Foundation Board of the World Economic Forum . Carney attended the annual meetings of the Bilderberg Group in 2011, 2012 and 2019. On November 26, 2012, Chancellor of the Exchequer George Osborne announced the appointment of Carney as Governor of the Bank of England . He succeeded Sir Mervyn King on July 1, 2013. He
2760-516: Is a monthly magazine launched in 1992, that provides in-depth coverage of global financial markets for finance professionals. In 2010, the magazine was redesigned in an effort to update its readership beyond Bloomberg terminal users. Michael Dukmejian has served as the magazine's publisher since 2009. Bloomberg Pursuits was a bimonthly luxury magazine distributed to Bloomberg terminal users and to newsstands. It ceased publication in 2016. A digital edition and show on Bloomberg Television continue under
2875-689: Is a partnership launched in 2021 to serve Spanish, Portuguese and English speaking Latino audiences. Bloomberg Intelligence (BI) is Bloomberg's research division. It provides data and analytics on global markets. It is available exclusively on the Bloomberg Terminal and the Bloomberg Professional App. Bloomberg L.P.'s headquarters is located in 731 Lexington Avenue (informally known as Bloomberg Tower) in Midtown Manhattan, New York City. As of 2011, Bloomberg L.P. occupied 900,000 square feet (84,000 m) of office space at
2990-472: Is a series of conferences targeted towards business people. Quicktake (formerly TicToc) is Bloomberg's social media brand. Originally launched on Twitter , it was expanded to other platforms including Facebook , Instagram , YouTube and is also available on Amazon 's Alexa . It will also play at several screens across multiple airports in the United States and Canada . The platform is managed by
3105-651: Is also growing in Midtown Manhattan based upon the city's strength in academic scientific research and public and commercial financial support. By mid-2014, Accelerator, a biotech investment firm, had raised more than US$ 30 million from investors , including Eli Lilly and Company , Pfizer , and Johnson & Johnson , for initial funding to create biotechnology startups at the Alexandria Center for Life Science, which encompasses more than 700,000 square feet (65,000 m ) on East 29th Street and promotes collaboration among scientists and entrepreneurs at
3220-594: Is an invitation-only event for business executives, government officials, and academics. The inaugural event was held in 2018 in Singapore. In 2019, the forum took place in Beijing, China. In 2020 the event was held virtually. Both the 2021 and 2022 events were held in Singapore. The Bloomberg New Economy Forum Community includes leaders from the public and private sectors from around the world. 2018 participants represented more than $ 5.36 trillion in market cap and boasted
3335-503: Is available for free on the company's website. David Shipley , former Op-Ed page editor at The New York Times , is Bloomberg Opinion's executive editor. Bloomberg Tradebook is an electronic agency brokerage for equity, futures, options and foreign exchange trades. Its "buyside" services include access to trading algorithms, analytics and marketing insights, while its "sellside" services include connection to electronic trading networks and global trading capabilities. Bloomberg Tradebook
3450-902: Is based on six criteria: research and development , manufacturing , high-tech companies, post-secondary education , research personnel, and patents . Bloomberg uses data from the World Bank , the International Monetary Fund , the World Intellectual Property Organization , the United States Patent and Trademark Office , the OECD and UNESCO to compile the ranking. Bloomberg has openly licensed its symbology system (Bloomberg Open Symbology, BSYM), and financial data API (Bloomberg Programming API, BLPAPI). Bloomberg Live
3565-702: Is commonly defined to be 59th Street ; its southern boundary is less clear, and variously taken to be 34th Street , 23rd Street , or even 14th Street . Midtown spans the entire island of Manhattan along an east–west axis, bounded by the East River on its east and the Hudson River to its west. The Encyclopedia of New York City defines Midtown as extending from 34th Street to 59th Street and from 3rd Avenue to 8th Avenue. In addition to its central business district , Midtown Manhattan encompasses many neighborhoods, including Hell's Kitchen and Chelsea on
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3680-554: Is considered to be the busiest transportation hub in the Western Hemisphere , servicing around 650,000 people per day. The Port Authority Bus Terminal , located at Eighth Avenue and 41st Street at the western edge of Midtown, is the city's main intercity bus terminal and the world's busiest bus station, serving 250,000 passengers on 7,000 buses each workday. The building opened in 1950 and had been designed to accommodate 60,000 daily passengers. A 2021 plan announced by
3795-727: Is higher than the city's average of 87%. In 2018, 86% of residents described their health as "good", "very good", or "excellent", more than the city's average of 78%. For every supermarket in Midtown Manhattan, there are 11 bodegas . The nearest major hospitals are Mount Sinai West in Hell's Kitchen ; Beth Israel Medical Center in Stuyvesant Town ; the Bellevue Hospital Center and NYU Langone Medical Center in Kips Bay ; and NewYork–Presbyterian Hospital in
3910-505: Is higher than the median life expectancy of 81.2 for all New York City neighborhoods. Most inhabitants are adults: a plurality (45%) are between the ages of 25 and 44, while 22% are between 45 and 64, and 13% are 65 or older. The ratio of youth and college-aged residents was lower, at 7% and 12% respectively. As of 2017, the median household income in Community Districts 4 and 5 (including Chelsea and Hell's Kitchen )
4025-470: Is less than that of the city as a whole. The incarceration rate of 297 per 100,000 people is lower than that of the city as a whole. The 18th Precinct has a lower crime rate than it did in the 1990s, with crimes across all categories having decreased by 82.1% between 1990 and 2022. The precinct reported 1 murder, 22 rapes, 154 robberies, 185 felony assaults, 205 burglaries, 2,065 grand larcenies, and 116 grand larcenies auto in 2022. The 14th Precinct also has
4140-407: Is less than the city average of 14% of residents being smokers. In Midtown Manhattan, 10% of residents are obese , 5% are diabetic , and 18% have high blood pressure —compared to the citywide averages of 24%, 11%, and 28% respectively. In addition, 9% of children are obese, compared to the citywide average of 20%. Ninety-one percent of residents eat some fruits and vegetables every day, which
4255-496: Is located at 421 8th Avenue. The post office stopped 24-hour service in 2009 due to decreasing mail traffic. Midtown Manhattan generally has a higher rate of college-educated residents than the rest of the city as of 2018 . A majority of residents age 25 and older (78%) have a college education or higher, while 6% have less than a high school education and 17% are high school graduates or have some college education. By contrast, 64% of Manhattan residents and 43% of city residents have
4370-941: Is located in Midtown Manhattan. Haier operates its United States offices in the Haier Building at 1356 Broadway, formerly the headquarters of the Greenwich Savings Bank . Haier held the opening ceremony on March 4, 2002. Sumitomo Corporation operates its New York Office, the headquarters of the corporation's United States operations, at 600 Third Avenue, 10016 in the Murray Hill neighborhood. El Al 's North American headquarters are in Midtown. The Air France USA regional headquarters are in 125 West 55th Street in Midtown Manhattan. Hachette Book Group USA has its headquarters in 237 Park Avenue . In 1994 Alitalia considered moving its USA headquarters from Midtown to Lower Manhattan , but decided to keep
4485-725: Is not problematic when there is "synchronized growth" globally, Carney said. When "the tide is rising in America while receding elsewhere", the system needs to be revamped. Carney cited an article by Markus K. Brunnermeier , Harold James , and Jean-Pierre Landau on the potential role of digital currency area (DCA) in redefining the international monetary system. Speaking only hours after US President Donald Trump had posted on Twitter that he blamed Federal Reserve Chairman Jerome Powell 's policies creating fears of an economic recession—and then threatened China with more retaliatory tariffs—Carney urged central banks to work together to replace
4600-1277: Is one of the world's leading financial centers. Midtown Manhattan is the one of the world's largest central business district , with 400 million square feet (37.2 million m ) of office space in 2018. Midtown contains the headquarters of major companies, including 4Kids Entertainment (formerly), Barnes & Noble , Bloomberg L.P. , Ernst & Young , Calvin Klein , Cantor Fitzgerald , CBS Corporation , Citigroup , Colgate-Palmolive , Cushman & Wakefield , DC Comics , Deloitte , Duane Reade , Estée Lauder Companies , Foot Locker , Frederator Studios , JPMorgan Chase , Hess Corporation , Kroll Inc. , L-3 Communications , Marsh & McLennan Companies , Marvel Entertainment , MetLife , MidOcean Partners , Morgan Stanley , Nasdaq, Inc. , NBCUniversal , The New York Times Company , NexCen Brands , Paramount Global , Pfizer , Polo Ralph Lauren , Saks Incorporated ( Saks Fifth Avenue ), The Sharper Image , Simon & Schuster , Six Flags , TBWA Worldwide , Thomson Reuters , Warner Bros. Discovery , Time Warner Cable , The Travelers Companies , and Univision Communications . The New York Institute of Finance
4715-490: Is part of 10001. Other areas between 14th and 34th Streets are covered by ZIP Codes 10003, 10009, 10010, and 10011, though these are generally not considered to be part of Midtown proper. There are also thirty-three ZIP Codes assigned to individual buildings or building complexes. The United States Postal Service operates six post offices in Midtown: The James A. Farley Station , the city's main post office,
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4830-430: Is patrolled by the 14th Precinct, located at 357 West 35th Street. The precincts ranked 69th safest out of 69 patrol areas for per-capita crime in 2010. The high per-capita crime rate can be attributed to the low population of the area, as well as the high number of crimes committed against tourists. As of 2018 , with a non-fatal assault rate of 25 per 100,000 people, Midtown Manhattan's rate of violent crimes per capita
4945-552: Is sponsored by the Institute of International Finance . Taskforce members include more than "40 leaders from six continents with backgrounds across the carbon market value chain", including representatives from the Bank of America , BlackRock , Bloomberg 's New Energy Finance, BNP Paribas , BP , Boeing , Goldman Sachs , Tata Steel , Total , IHS Markit , and LSE. In a December 3, 2020 Financial Times article, Carney said that
5060-409: Is the busiest transportation hub in the Western Hemisphere . Midtown Manhattan is the largest central business district in the world, and has been ranked as the densest central business district in the world in terms of employees, at 606,108 per square mile (234,020/km ). Midtown also ranks among the world's most expensive locations for real estate; Fifth Avenue in Midtown Manhattan has commanded
5175-889: Is the central portion of the New York City borough of Manhattan , serving as the city's primary central business district . Midtown is home to some of the city's most prominent buildings, including the Empire State Building , the Chrysler Building , the Hudson Yards Redevelopment Project , the headquarters of the United Nations , Grand Central Terminal , and Rockefeller Center , as well as several prominent tourist destinations, including Broadway , Times Square , and Koreatown . Penn Station in Midtown Manhattan
5290-411: The 2024 election Carney was part of a taskforce which saw the creation of a British National Wealth Fund . In September 2024, Carney became special advisor and the chair of a Liberal Party of Canada task force on economic growth. In December 2016, Carney warned of the societal risk of "staggering wealth inequalities " in a Roscoe Lecture at Liverpool John Moores University : "The proportion of
5405-500: The Basel -based Financial Stability Board . In a statement, Carney credited his appointment to "the strong reputation of Canada's financial system and the leading role that Canada has played in helping to develop many of the most important international reforms". The three-year term was a part-time commitment, allowing Carney to complete his term at the Bank of Canada. While there had been no indication of his priorities as chairman , on
5520-532: The Bloomberg Terminal (via its Bloomberg Professional Service), its core revenue -generating product. Bloomberg L.P. also includes a news agency ( Bloomberg News ), a global television network ( Bloomberg Television ), websites, radio stations ( Bloomberg Radio ), subscription-only newsletters, and two magazines: Bloomberg Businessweek and Bloomberg Markets . The company has 176 locations and nearly 20,000 employees. In 1981, Salomon Brothers
5635-814: The European Central Bank delivered a rate increase in July 2008, Carney anticipated the leveraged-loan crisis would trigger global contagion . When policy rates in Canada hit the effective lower-bound, the central bank combatted the crisis with the non-standard monetary tool "conditional commitment" in April 2009 to hold the policy rate for at least one year, in a boost to domestic credit conditions and market confidence. Output and employment began to recover from mid-2009, in part thanks to monetary stimulus. The Canadian economy outperformed those of its G7 peers during
5750-707: The European Union (EU) before the British EU-membership referendum . He replied that he felt it was his duty to speak up on such issues. In September 2018, Philip Hammond , the chancellor of the Exchequer , confirmed speculation that Carney would remain as Governor until January 2020, in order to ensure a "smooth" transition after the UK was set to leave the EU on March 29, 2019, a departure deadline that
5865-651: The Ladies' Mile , along Fifth Avenue from 14th to 23rd Street; and the Tenderloin , from 23rd to 42nd Street and from Fifth Avenue to Seventh Avenue . Important streets and thoroughfares The border of Midtown Manhattan is nebulous and further confused by the fact that the term "Midtown Manhattan" can be used to refer either to a district or a group of neighborhoods and districts in Manhattan: Midtown Manhattan, along with Lower Manhattan ,
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#17327659165955980-575: The New York City Fire Department (FDNY): The greater Midtown area between 14th Street and 59th Street contains seven additional fire stations. As of 2018 , preterm births and births to teenage mothers in Midtown Manhattan are lower than the city average. In Midtown Manhattan, there were 67 preterm births per 1,000 live births (compared to 87 per 1,000 citywide), and 4 births to teenage mothers per 1,000 live births (compared to 19.3 per 1,000 citywide). Midtown Manhattan has
6095-561: The University of Oxford . She is active in various environmental and social justice causes. The couple married in July 1994 while he was finishing his doctoral thesis. They have four children and lived in Toronto , before moving to the Rockcliffe Park neighbourhood of Ottawa and then moving to London in 2013. They moved back to Ottawa when Mark Carney left his role in the Bank of England. During his Harvard years, Carney
6210-560: The Upper East Side . Midtown Manhattan is located within six primary ZIP Codes . West of Fifth Avenue, Midtown is located in 10018 between 34th and 41st Streets, 10036 between 41st and 48th Streets, and 10019 between 48th and 59th Streets. East of Fifth Avenue, Midtown is located in 10016 between 34th and 40th Streets, 10017 between 40th and 49th Streets, and 10022 between 49th and 59th Streets. The area southwest of Fifth Avenue and 34th Street, sometimes considered to be in Midtown,
6325-723: The Waldorf Astoria New York , which became the most expensive hotel ever sold after being purchased by the Anbang Insurance Group, based in China, for US$ 1.95 billion . In the same year, six of the top ten most expensive zip codes in the United States by median housing price were located in Manhattan, underscoring the borough's dominant position in the real estate market. When 450 Park Avenue
6440-574: The climate economy ". In August 2023, Carney was named by Michael Bloomberg as chair of the new board of directors for Bloomberg L.P. as part of a broader reshuffle of the company's leadership. In October 2023, Carney endorsed the UK Labour Party 's Shadow Chancellor Rachel Reeves to be the next Chancellor of the Exchequer in a video following Reeves' speech at the Labour Party conference that year. Following Labour winning
6555-569: The governor of the Bank of England from 2013 to 2020. He is chair, and head of impact investing at Brookfield Asset Management (BAM) since 2020, and was named chairman of Bloomberg Inc., parent company of Bloomberg L.P. , in 2023. He was the chair of the Financial Stability Board from 2011 to 2018. Prior to his governorships, Carney worked at Goldman Sachs as well as the Department of Finance Canada . He also serves as
6670-528: The "widespread use of the US dollar—the dominant currency pricing—in "trade invoicing, in place of the currency of either the producer or the importer" has had a "destablilizing" effect on the global economy, according to Reuters . About 50 percent of international trade relies on the US dollar as the "currency of choice." This represents "five times greater than the US's share in world goods imports, and three times its share in world exports." Dominant currency pricing
6785-503: The $ 600 billion Brookfield Asset Management portfolio was carbon neutral . He had based his claim on the fact that Brookfield has a large renewable energy portfolio and "all the avoided emissions that come with that". The claim was criticized as accounting tricks because avoided emissions do not counteract the emissions from investments in coal and other fossil fuels responsible for Brookfield's carbon footprint of about 5,200 metric tons of carbon dioxide. In February 2021, Carney joined
6900-484: The Bank of Canada . He immediately left his position at the Department of Finance to serve as an advisor to the outgoing governor, David Dodge , before formally assuming Dodge's position on February 1, 2008. Carney was selected over Paul Jenkins , the senior deputy governor, who had been considered the front-runner to succeed Dodge. Carney took on this role at the beginning of the 2007 global financial crisis . At
7015-480: The Bloomberg Messaging Service. The Terminal covers both public and private markets globally. Bloomberg News was co-founded by Michael Bloomberg and Matthew Winkler in 1990, to deliver financial news reporting to Bloomberg terminal subscribers. In 2000, Bloomberg News included more than 2,300 editors and reporters in 100 countries. Content produced by Bloomberg News is disseminated through
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#17327659165957130-614: The Bloomberg Terminal, was released to market in December 1982. Merrill Lynch became the first customer, purchasing 20 terminals and a 30% equity stake in the company for $ 30 million in exchange for a five-year restriction on marketing the terminal to Merrill Lynch's competitors. Merrill Lynch released IMS from this restriction in 1984. In 1986, the company renamed itself Bloomberg L.P. ( limited partnership ). Bloomberg launched Bloomberg Business News, later Bloomberg News, in 1990, with Matthew Winkler as editor-in-chief. Bloomberg.com
7245-802: The Bloomberg offices including its headquarters at 731 Lexington Ave. In July 2020, Bloomberg's construction manager Michael Campana was sentenced to two years in prison for tax evasion on $ 420,000 in connection with accepting bribery. The bribery was in the form of cash, work on personal property, Super Bowl tickets and payment for Campana's wedding. On September 29, 2020, Anthony Guzzone, the Director of Global Construction at Bloomberg from 2010 and 2017, pleaded guilty to evading taxes on over $ 1.45 million he received in bribes from construction subcontractors in exchange for being awarded work performed for Bloomberg. Guzzone accepted more than $ 5.1 million in bribes. He
7360-411: The Bloomberg terminal, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek , Bloomberg Markets and Bloomberg.com. Since 2015, John Micklethwait has served as editor-in-chief . Bloomberg Television , a service of Bloomberg News, is a 24-hour financial news television network. It was introduced in 1994, as a subscription service transmitted on satellite television provider DirecTV , 13 hours
7475-649: The Canadian Finance Department. He served under two finance ministers : Ralph Goodale , a Liberal and Jim Flaherty , a Conservative . During this time Carney oversaw the Government of Canada 's controversial plan to tax income trusts at source. Carney was also the lead on the federal government's profitable sale of its 19 percent stake in Petro-Canada . In November 2007, it was announced that Carney would be appointed Governor of
7590-693: The City University of New York, is located in Midtown South. Mercy College is situated at Herald Square . Pennsylvania Station and Grand Central Terminal are the two major railroad stations located in Midtown Manhattan. Penn Station serves Amtrak , NJ Transit , and the Long Island Rail Road (LIRR), while Grand Central serves the Metro-North Railroad and also serves the LIRR at Grand Central Madison . Penn Station
7705-626: The Port Authority would spend $ 10 billion to expand capacity and modernize the facility. The New York City Subway and MTA Regional Bus Operations each operate several routes that go through Midtown. Additionally, the PATH train to New Jersey terminates at 33rd Street and Sixth Avenue in Midtown. Traffic congestion is common, especially for crosstown traffic. In 2011, a new system of traffic light control, known as "Midtown in Motion"
7820-516: The UN Special Envoy for Climate Action and Finance. Carney was born on March 16, 1965, in Fort Smith, Northwest Territories , the son of Verlie Margaret (née Kemper) and Robert James Martin Carney. When Carney was six, his family moved to Edmonton , Alberta. Carney has three siblings — an older brother and sister, Seán and Brenda, and a younger brother Brian. Carney attended St. Francis Xavier High School , before studying at Harvard University . Carney graduated from Harvard in 1988 with
7935-411: The US dollar as reserve currency . He cautioned against choosing another new hegemonic reserve currency like the Renminbi and suggested instead, a "new Synthetic Hegemonic Currency (SHC), such as Libra , which could potentially be provided "through a network of central bank digital currencies," that would decrease the US dollar's "domineering influence" on trade worldwide. Carney also said that
8050-501: The United Kingdom. New Energy Finance was created by Michael Liebreich in 2004, to provide news, data and analysis on carbon and clean energy markets. Bloomberg L.P. acquired the company to become an industry resource for information to support low-carbon energy development. It was renamed to Bloomberg New Energy Finance or BNEF for short. Liebreich continued to lead the company, serving as the chief executive officer until 2014, when he stepped down as CEO but remained involved as chairman of
8165-399: The United Nations, and consulates-general accredited to the United States, in Midtown Manhattan. In addition, the Taipei Economic and Cultural Office of the Republic of China ( Taiwan ) is in Midtown Manhattan. Mark Carney Mark Joseph Carney OC (born March 16, 1965) is a Canadian economist and banker who served as the 8th governor of the Bank of Canada from 2008 to 2013 and
8280-433: The United States achieved completion in Midtown Manhattan, at a selling price of US$ 238 million, for a 24,000 square feet (2,200 m ) penthouse apartment overlooking Central Park at 220 Central Park South . The COVID-19 pandemic and hybrid work models have prompted consideration of commercial-to-residential conversion within the neighborhood's real estate sector. In August 2023, Mayor Eric Adams announced
8395-666: The West Side, and Murray Hill , Kips Bay , Turtle Bay , and Gramercy Park on the East Side. It is sometimes broken into "Midtown East" and "Midtown West", or north and south as in the New York City Police Department 's Midtown North and Midtown South precincts. Neighborhoods in the Midtown area include the following: Midtown is the original district in the United States to bear the name and included historical but now defunct neighborhoods such as
8510-463: The advisory board. The company has been renamed BloombergNEF—or BNEF for short. BloombergNEF has expanded its research areas to cover renewable energy, advanced transport, digital industry, innovative materials, sustainability and commodities. BNEF provides research, long-term forecasts, analytical tools and global in-depth analysis covering a wide range of energy and related industries. Analysts covering 6 continents publish more than 700 research reports
8625-400: The base of the tower. The company's New York offices also include 400,000 square feet (37,000 m) located at 120 Park Avenue. It maintains offices in 167 locations around the world, including Bloomberg London , its European headquarters. The Bloomberg L.P. offices are non-hierarchical – even executives do not have private offices. All employees sit at identical white desks each topped with
8740-610: The board of fintech company Stripe . As of March 2021, Stripe was valued at $ 95 billion. Carney helped launch the Glasgow Financial Alliance for Net Zero ( GFANZ ) at COP26 in Glasgow in November 2021. He acts as the group's Co-Chair. Since 2022, Carney has also served as an advisor to Watershed , a climate tech company founded by Stripe alumni that proposes to be "the platform companies need to succeed in
8855-507: The brightly illuminated hub of the Broadway Theater District , is a major center of the world's entertainment industry. Sixth Avenue also has the headquarters of three of the four major U.S. television networks . Midtown is part of Manhattan Community District 5 . It is patrolled by the 14th and 18th precincts of the New York City Police Department . Geographically, the northern boundary of Midtown Manhattan
8970-401: The center and with nearby academic, medical, and research institutions. The New York City Economic Development Corporation 's Early Stage Life Sciences Funding Initiative and venture capital partners, including Celgene , General Electric Ventures, and Eli Lilly, committed a minimum of US$ 100 million to help launch 15 to 20 ventures in life sciences and biotechnology. Real estate is
9085-460: The chairman of the company, a role he still holds. In 2008, Fenwick became the CEO of Bloomberg Ventures, a new venture capital division and Daniel Doctoroff , former deputy mayor in the Bloomberg administration, was named president and CEO, serving until September 2014. At that point, it was announced that Michael Bloomberg would be taking the reins of his eponymous market data company from Doctoroff, who
9200-411: The citywide average of 20%. Additionally, 92% of high school students in Midtown Manhattan graduate on time, more than the citywide average of 75%. There are no public elementary or middle schools in Midtown. The New York City Department of Education operates the following public high schools in Midtown, serving grades 9–12: Private schools include The Beekman School , Rebecca School , and
9315-508: The company back to Bloomberg Inc., majority-owned by Michael Bloomberg, for a reported $ 4.43 billion, valuing Bloomberg L.P. at approximately $ 22.5 billion. Bloomberg L.P. has remained a private company since its founding, the majority of which is owned by billionaire Michael Bloomberg. To run for the position of Mayor of New York against Democrat Mark Green in 2001, Bloomberg gave up his position of CEO and appointed Lex Fenwick as CEO in his stead. in 2012, Peter Grauer became
9430-497: The crisis, and Canada was the first G7 nation to have both its Gross Domestic Product (GDP) and employment recover to pre-crisis levels. The Bank of Canada's decision to provide substantial additional liquidity to the Canadian financial system, and its unusual step of announcing a commitment to keep interest rates at their lowest possible level for one year, appear to have been significant contributors to Canada's weathering of
9545-430: The crisis. Canada's risk-averse fiscal and regulatory environment is also cited as a factor. In 2009 a Newsweek columnist wrote, "Canada has done more than survive this financial crisis. The country is positively thriving in it. Canadian banks are well capitalized and poised to take advantage of opportunities that American and European banks cannot seize." Carney earned various accolades for his leadership during
9660-400: The data analysis firm STATS LLC (now Stats Perform ) for a fee rumored to be between $ 15 million and $ 20 million. On December 10, 2019, Bloomberg Media announced that it has reached an agreement to acquire CityLab , The Atlantic ' s news site covering transportation, environment, equity, life, and design. This was Bloomberg's first acquisition of an editorial property by
9775-679: The day of his appointment the Board published a list of 29 banks that were considered sufficiently large as to pose a risk to the global economy should they fail. At his first press conference as Chairman of the FSB in January 2012, Carney laid out his key priorities for the board. Carney served as chairman of the Bank for International Settlements ' Committee on the Global Financial System from July 2010 until January 2012. Carney
9890-467: The financial crisis: he was named one of Financial Times ' s "Fifty who will frame the way forward", and of Time Magazine 's 2010 Time 100 . In May 2011, Reader's Digest named him "Editor's Choice for Most Trusted Canadian". In October 2012, Carney was named "Central Bank Governor of the Year 2012" by the editors of Euromoney magazine. On November 4, 2011, Carney was named chairman of
10005-540: The first test of a new global order and could prove the acid test of whether a way can be found to broaden the benefits of openness while enhancing democratic accountability". In his August 23, 2019, speech delivered at the Federal Reserve Bank of Kansas City 's 2019 annual Jackson Hole Economic Symposium at Jackson Lake Lodge , entitled "The Growing Challenges for Monetary Policy in the current International Monetary and Financial System", Carney said that
10120-1001: The forum included 3M , ADNOC , Dangote , ExxonMobil , FedEx , HSBC , Hyundai , Mastercard , Microsoft , and Softbank . In 2021, the company initiated the Bloomberg New Economy Catalysts program to spotlight the work of changemakers and its impact on the world. Individuals selected as New Economy Catalysts included: Noubar Afeyan , Sarah Al Amiri , Yvonne Aki-Sawyerr , Ankiti Bose , Justin Gong, Sarah Hanson-Young , Rachel Haurwitz , Cristina Junqueira , Kieran Long , Ma Jun , K. Megan MacArthur , Sara Menker , Daniel Metzler, Nick Molnar , Nthabiseng Mosia , Matias Muchnick, Aurelia Nguyen , Sara Spangelo, Anthony Tan , and Danielle Wood The 2022 cohort included: Anna Luisa Beserra , Odunayo Eweniyi , Angel Hsu , Emiliano Kargieman, Carrie Chan, Gregory Rockson, Gloria Walton, and Amira Yahayaoui . Bloomberg Línea
10235-466: The magazine—which was suffering from declining advertising revenue and limited circulation numbers—to attract general business to its media audience composed primarily of terminal subscribers. Following the acquisition, BusinessWeek was renamed Bloomberg Businessweek . In 2018, Joel Weber was named editor of the magazine. In 2009, Bloomberg L.P. purchased New Energy Finance, a data company focused on energy investment and carbon markets research based in
10350-510: The neighborhood was 64.1% (18,351) White , 4.6% (1,310) African American , 0.1% (34) Native American , 20.8% (5,942) Asian , 0% (8) Pacific Islander , 0.3% (92) from other races , and 2% (569) from two or more races. Hispanic or Latino residents of any race were 8.1% (2,324) of the population. The entirety of Community District 5, which comprises Midtown Manhattan, had 53,120 inhabitants as of NYC Health 's 2018 Community Health Profile, with an average life expectancy of 84.8 years. This
10465-676: The news and financial data company in over a decade. In 2011, sales from the Bloomberg Professional Services, also known as the Bloomberg Terminal , accounted for more than 85 percent of Bloomberg L.P.'s annual revenue. The financial data vendor 's proprietary computer system, starting at $ 24,000 per user per year, allows subscribers to access the Bloomberg Professional service to monitor and analyze real-time financial data, search financial news, obtain price quotes and send electronic messages through
10580-720: The offices where they were at the last minute. Global Infrastructure Partners has an office in Midtown Manhattan. Silicon Alley , the common metonym for New York City's high tech sector, is based in Midtown South , specifically the Flatiron District . Prominent Silicon Alley companies in Midtown include AppNexus , Blue Apron , Gilt , Betterment , Oscar , SoFi , Rent the Runway , Warby Parker , and WeWork . The technology sector has been expanding across Midtown Manhattan since 2010. The biotechnology sector
10695-569: The position of finance advisor for the UK presidency of the COP26 United Nations Climate Change conference in Glasgow; at that time the conference was scheduled for November 2020 but it was later postponed to November 2021. As of October 2020, Carney is vice chairman at Brookfield Asset Management where he leads the firm's environmental, social and governance (ESG) and impact fund investment strategy. In February 2021, Carney retracted an earlier claim that
10810-595: The radio station WNEW , BusinessWeek magazine, research company New Energy Finance, the Bureau of National Affairs and the financial software company Bloomberg PolarLake. On July 9, 2014, Bloomberg L.P. acquired RTS Realtime Systems, a global provider of low-latency connectivity and trading support services. On August 13, 2019, Bloomberg acquired RegTek.Solutions in a move to expand its suite of regulatory reporting and data management services. On March 13, 2023, Bloomberg entered into agreement to acquire Broadway Technology,
10925-612: The recent increase in the perception that a no-deal Brexit is likely, is "evidenced by betting odds and financial market asset pricing" resulting in the UK now having "the highest FX implied volatility, the highest equity risk premium and lowest real yields of any advanced economy." Carney has taken a leading position on the need for climate action. In 2020, Carney launched the Taskforce on Scaling Voluntary Carbon Markets —an initiative to increase trading of voluntary carbon offsets — with Bill Winters as Group Chief Executive. The TSVCM
11040-501: The same name. Bloomberg Entity Exchange is a web-based , centralised and secure platform for buy side firms, sell side firms, corporations and insurance firms, banks or brokers to fulfill Know Your Customer (KYC) compliance requirements. It was launched on May 25, 2016. Launched in 2011, Bloomberg Government is an online service that provides news and information about politics, along with legislative and regulatory coverage. In 2009, Bloomberg L.P. introduced Bloomberg Law ,
11155-491: The time of his appointment, Carney was the youngest central bank governor among the G8 and G20 . Carney's actions as Governor of the Bank of Canada are said to have played a major role in helping Canada avoid the worst impacts of the financial crisis. The epoch-making feature of his tenure as Governor remains the decision to cut the overnight rate by 50 basis points in March 2008, only one month after his appointment. While
11270-620: The voluntary global carbon offset market was an "imperative" to help reduce emissions. The Times article cited Carney saying London would likely be the host of the "new pilot market for voluntary carbon offsets" which could be "set up" by December 2021. On December 2, 2020, Carney delivered the first of four Reith Lectures —the BBC's flagship annual series. In "How We Get What We Value – From Moral to Market Sentiments", he said society had come to esteem financial value over human value and moved from market economies to market societies. The series covers
11385-410: The wealth held by the richest 1% of Americans increased from 25% in 1990 to 40% in 2012 ... Globally, the share of wealth held by the richest 1% in the world rose from one-third in 2000 to one-half in 2010." Carney warned many times that Brexit was expected to negatively influence the UK economy. Consequently, Brexit activists accused him of making statements favouring the UK's continued membership of
11500-509: The world's highest retail rents and is the most expensive shopping street in the world. Midtown Manhattan is the country's largest commercial, entertainment , and media center, and is also a growing financial and fintech center. Many of New York City's skyscrapers , including its tallest hotels and apartment towers , are located in Midtown Manhattan. The neighborhood hosts commuters and residents working in its offices, hotels, and retail establishments, tourists and students. Times Square,
11615-466: Was $ 101,981, though the median income in Midtown individually was $ 120,854. In 2018, an estimated 11% of Midtown Manhattan residents lived in poverty, compared to 14% in all of Manhattan and 20% in all of New York City. One in twenty residents (5%) were unemployed, compared to 7% in Manhattan and 9% in New York City. Rent burden, or the percentage of residents who have difficulty paying their rent,
11730-491: Was acquired, and Michael Bloomberg , a general partner, was given a $ 10 million partnership settlement. Bloomberg, having designed in-house computerized financial systems for Salomon, used his $ 10 million partnership buyout to start Innovative Market Systems (IMS). Bloomberg developed and built his own computerized system to provide real-time market data, financial calculations and other financial analytics to Wall Street firms. The Market Master terminal, later called
11845-515: Was announced, with the aim of reducing traffic congestion. Approximately 750,000 vehicles enter Midtown Manhattan on a fall business day. According to the 2011 Traffic Data Report for New York State, 777,527 vehicles a day went through select toll facilities into Manhattan. The New York Supreme Court, Appellate Division , First Department, is located at the Appellate Division Courthouse at 25th Street and Madison Avenue
11960-681: Was backup goalie for the school's ice hockey team . Carney continued playing the sport with the Oxford University Ice Hockey Club while studying at Nuffield College, Oxford . Carney completed the 2015 London Marathon in 03:31:22, which was 17 minutes faster than his time at the 2011 Ottawa Marathon . Carney speaks fluent French. In addition to his Canadian citizenship , he also holds Irish (two of his grandparents are from County Mayo ) and British citizenship . He has distant relatives in Liverpool and
12075-401: Was chief executive of Bloomberg for the past six years after his term as deputy mayor. In May 2022, Bloomberg announced it would launch a new venture in the UK, Bloomberg UK, as part of a wider international strategy. Bloomberg UK plans to hire in the region and has launched a standalone website, a weekly video series, a podcast and new event series. In August 2023, Michael Bloomberg announced
12190-602: Was completed in 1900 by architect James Brown Lord , who used a third of the construction budget to decorate the building with statues and murals. The Puerto Rico Federal Affairs Administration operates its New York office on the 22nd floor at 135 West 50th Street . Several countries, including Algeria , Argentina , The Bahamas , China , Costa Rica , Germany , Ireland , Israel , Jamaica , Japan , Luxembourg , Mexico , Morocco , Saudi Arabia , Singapore , South Africa , South Korea , United Kingdom , and Ukraine , have Permanent Missions accredited to
12305-454: Was first established on September 29, 1993, as a financial portal with information on markets, currency conversion , news and events, and Bloomberg Terminal subscriptions. In late 1996, Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in the company for $ 200 million, valuing the company at $ 2 billion. In 2008, facing losses during the financial crisis, Merrill Lynch agreed to sell its remaining 20 percent stake in
12420-487: Was founded in 1996, as an affiliate of Bloomberg L.P. Bloomberg Beta is a venture capital firm capitalized by Bloomberg L.P. Founded in 2013, the $ 75 million fund is focused on investments in areas broadly of interest to Bloomberg L.P., and invests purely for financial return. It is headquartered in San Francisco . The Bloomberg Innovation Index is an annual ranking of how innovative countries are. It
12535-480: Was involved in Goldman's work with the 1998 Russian financial crisis . In 2003, Carney left Goldman Sachs to join the Bank of Canada as a deputy governor. One year later, he was recruited to join the Department of Finance Canada as senior associate deputy minister , beginning that role on November 15, 2004. From November 2004 to October 2007, Carney was the senior associate deputy minister and G7 deputy in
12650-528: Was missed. In November 2018, Carney warned that large parts of the British economy were not ready for a no-deal Brexit . Speaking on BBC Radio 4's Today program, Carney explained that fewer than half of businesses have initiated contingency plans. In February 2019, speaking about the global economy, Carney provided a less negative perspective on Brexit, stating that globalization has resulted in "imbalances of democracy and sovereignty", and that Brexit "is
12765-523: Was moving its North American headquarters from Midtown to Melville , New York , in Suffolk County on Long Island . Based on data from the 2010 United States Census , the population of Midtown Manhattan was 28,630, a change of 2,823 (9.9%) from the 25,807 counted in 2000 . Covering an area of 692.81 acres (280.37 ha), the neighborhood had a population density of 41.3 inhabitants per acre (26,400/sq mi; 10,200/km ). The racial makeup of
12880-455: Was not "an unimpeachable third-party witness" present during the alleged event, elaborating that "there are times when three people are together." The case was dismissed by a federal judge in 1999 after Olszewski's lawyer had ignored repeated deadlines to submit a response to a motion to end the case. The case was re-opened by another lawyer in 2000, but disappeared from the court docket in 2001. Midtown Manhattan Midtown Manhattan
12995-464: Was sentenced to prison for three years and two months in January 2021 In 1996, former Bloomberg L.P. sales representative Mary Ann Olszewski sued the company, alleging that she was drugged and raped by her supervisor, Bryan Lewis, and claimed she was terminated shortly after reporting the incident in a May 25, 1995, meeting. The lawsuit also alleged the company internally investigated Olszewski, attempting to get coworkers to portray her as "flirtatious" or
13110-408: Was sold on July 2, 2007, for US$ 510 million, about US$ 1,589 per square foot (US$ 17,104/m ), it broke the barely month-old record for an American office building of US$ 1,476 per square foot (US$ 15,887/m ) based on the sale of 660 Madison Avenue . In 2014, Manhattan was home to six of the top ten zip codes in the United States by median housing price. In 2019, the most expensive home sale ever in
13225-489: Was the first non-Briton to be appointed to the role since the Bank of England was established in 1694. The Bank of England was given additional powers from 2013, such as the ability to set bank capital requirements. Prior to taking up the post, Carney had already indicated disagreement with the Bank of England's Executive Director of Financial Stability Andy Haldane , specifically on leverage ratios and on bank break-ups. He has been quoted as saying that Haldane does not have
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