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81-519: Nugan Hand Bank was an Australian merchant bank that collapsed in 1980 after the suicide of one of its founders, Australian lawyer Francis John Nugan , resulting in a major scandal. News stories suggested that the bank had been involved in illegal activities, including drug smuggling, arms deals, and providing a front for the United States Central Intelligence Agency . Speculation grew when it became known that

162-604: A 4.0-litre engine. Some models carry further designations indicating special features: Model designation badges can be removed at the request of the customer. Rationalisation of the model nomenclature was announced in November 2014 for future models. The changes consolidate many confusing nomenclature and their placements in the model range, for example—the CL-Class is now called the S-Class Coupé. The naming structure

243-529: A close business and social relationship with former Sydney police constable and underworld "patron", Murray Stewart Riley . From April 1976, Hand initiated five cash transfers totalling $ 295,000 to the Hong Kong office. Riley's subordinates used these funds to buy heroin that was then shipped to Australia. Upon Riley's advice, Hand opened branches in Thailand "to attract drug money" and two years later, ordered

324-658: A conduit for CIA money. In March 1991, the Australian magazine The Eye reported that Michael Hand was living in the United States, giving an address and other details, but Australian authorities declined to pursue an extradition. In November 2015, the Sydney Morning Herald reported that Peter Butt had located Hand living under the name Michael Jon Fuller in Idaho Falls, Idaho . Butt queried

405-399: A crop loan at the beginning of the growing season, which allowed a farmer to develop and manufacture (through seeding, growing, weeding, and harvesting) his annual crop. Underwriting in the form of a crop, or commodity, insurance guaranteed the delivery of the crop to its buyer, typically a merchant wholesaler. In addition, traders performed the merchant function by making arrangements to supply

486-474: A diesel engine are no longer given a separate letter. The SLR and SLS supercars do not carry a numerical designation. Today, many numerical designations no longer reflect the engine's actual displacement, but more of the relative performance and marketing position. Despite its engine displacement in two litres, the powerplant in the A45 AMG produces 355 brake horsepower so the designation is higher as to indicate

567-513: A specific trade, thus overcoming the usury objection. Once again this merely developed what was an ancient method of financing long-distance transport of goods. The medieval Italian markets were disrupted by wars and in any case were limited by the fractured nature of the Italian states. And so the next generation of bankers arose from migrant Jewish merchants in the great wheat-growing areas of Germany and Poland. Many of these merchants were from

648-443: A strong reputation for quality and durability. Some objective measures looking at passenger vehicles, such as J. D. Power surveys, demonstrated a downturn in reputation in these criteria in the late 1990s and early 2000s. By mid-2005, Mercedes temporarily returned to the industry average for initial quality, a measure of problems after the first 90 days of ownership, according to J. D. Power. In J. D. Power's Initial Quality Study for

729-537: Is "The Best or Nothing". Mercedes-Benz traces its origins to Karl Benz 's first internal combustion engine in a car, seen in the Benz Patent Motorwagen – financed by Bertha Benz 's dowry and patented in January 1886 – and Gottlieb Daimler and their engineer Wilhelm Maybach 's conversion of a stagecoach, with the addition of a petrol engine, introduced later that year. The Mercedes automobile

810-698: Is a German luxury and commercial vehicle brand that was founded in 1926. Mercedes-Benz AG (a subsidiary of the Mercedes-Benz Group , established in 2019) is based in Stuttgart , Baden-Württemberg , Germany. Mercedes-Benz AG manufactures luxury vehicles and light commercial vehicles , all branded under the Mercedes-Benz name. From November 2019 onwards, the production of Mercedes-Benz-branded heavy commercial vehicles (trucks and buses) has been managed by Daimler Truck , which separated from

891-615: Is a joint venture with Saigon Mechanical Engineering Corporation . In 2021-2022, Mercedes-Benz Vietnam invested approximately 33 million USD to upgrade 6 technologies at this factory in preparation for the assembly of AMG models. The 1996 Mercedes E230 was the first model produced by the Mercedes-Benz Vietnam assembly plant and was part of the initial batch assembled locally. Other than in its native birthplace, Germany, Mercedes-Benz vehicles are or have been partly manufactured or assembled in: Mercedes-Benz normally has

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972-620: Is divided into four categories: core, off-road vehicle/SUV, 4-door coupé, and roadster. AMG GT and V-Class are unaffected by the change. In October 2016, Mercedes unveiled the X-Class; a pickup truck built on the Nissan Navara . At the 2016 Paris Motor Show , the company announced the EQ , a family of upcoming battery electric vehicles based on a modular platform , expected to represent up to 25% of its global sales by 2025. Note: The CLA

1053-455: Is one of the best-known and longest-standing automotive brands in the world. The pontiff's Popemobile has often been sourced from Mercedes-Benz. In November 2019, Daimler AG announced that Mercedes-Benz, until that point a company marque, would be spun off into a separate, wholly-owned subsidiary called Mercedes-Benz AG. The new subsidiary would manage the Mercedes-Benz car and van business. Mercedes-Benz-badged trucks and buses would be part of

1134-612: Is positioned between the A- and B-Class models, while the CLE sits between the C- and E-Classes. In addition to the revised nomenclature, Mercedes-Benz has new suffix nomenclature for the drive systems. CDI GLA 200 d Electric Drive B 250 e BlueTEC HYBRID E 300 h The revised A45 AMG for the 2016 model year on has shifted the model designation to the right side while AMG is on the left side. This trend commenced with Mercedes-Maybach with MAYBACH on

1215-468: The 190-class with the numeric designation of "190" as to denote its entry-level in the model along with the displacement label on the right side of the boot (190E 2.3 for 2.3-litre 4-cylinder petrol motor, 190D 2.5 for 2.5-litre 5-cylinder diesel motor, and so forth). Some older models (such as the SS and SSK) did not have a number as part of the designation at all. For the 1994 model year, Mercedes-Benz revised

1296-953: The Cayman Islands ) in Chiang Mai , Manila , Hawaii , Singapore , Hong Kong , Taiwan , Cayman Islands and Washington D.C. According to a former employee speaking in 1980, the bank paid commission of up to 2.5% on unsecured investments of $ 1m or more, when the going rate was around 0.25%. Together with related costs, the bank was paying over 12% to access funds. Yet the bank never became involved in traditional merchant banking activities like equity investment or mortgage financing; instead, its principals sought all manner of unconventional investment opportunities, including gun running and attempts to corner various commodities markets, such as Malaysian rubber and Indonesian oil. Its Cayman Islands subsidiary also provided tax avoidance and evasion schemes. The Nugan Hand Bank gained respectability by

1377-543: The DB601 aero engines. To build the latter, in 1936, it built a factory hidden in the forest at Genshagen around 10 km south of Berlin . By 1942, the company had mostly stopped producing cars, and was now devoted to war production. According to its own statement, in 1944, almost half of its 63,610 employees were forced labourers, prisoners of war, or concentration-camp detainees. Another source quotes this figure at 46,000. The company later paid $ 12 million in reparations to

1458-634: The F-Cell fuel cell vehicle. The current version, based on the B-Class, has a 250-mile range and is available for lease, with volume production scheduled to begin in 2014. Mercedes has also announced the SLS AMG E-Cell , a fully electric version of the SLS sports car, with deliveries expected in 2013. The Mercedes-Benz S400 BlueHYBRID was launched in 2009, and is the first production automotive hybrid in

1539-589: The Lombardy merchants and bankers grew in stature based on the strength of the Lombard plains cereal crops, many displaced Jews fleeing Spanish persecution were attracted to the trade. The Florentine merchant banking community was exceptionally active and propagated new finance practices all over Europe. Both Jews and Florentine merchants perfected ancient practices used in the Middle East trade routes and

1620-597: The Mercedes-Maybach name, with the models being luxury-focused, enhanced models of Mercedes-Benz cars, such as the 2016 Mercedes-Maybach S600 . The Mercedes-Maybach GLS 600 SUV debuted in November 2019. Daimler partnered with BYD Auto to make and sell a battery-electric car called Denza in China. However, after reducing its stake in 2021, the Stuttgart-based company has now exited Denza completely:

1701-641: The North American International Auto Show . Each car features a different powertrain – battery-electric, fuel-cell electric, and gasoline-electric hybrid. In the same year, Mercedes also showed the Vision S500 PHEV concept with a 19 miles (31 km) all-electric range and CO 2 emissions of 74 grams/km in the New European Driving Cycle . Since 2002, Mercedes-Benz has developed

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1782-402: The 1950s also had lower-case letters (b, c, and d) to indicate specific trim levels. For other models, the numeric part of the designation does not match the engine displacement. This was done to show the model's position in the model range independent of displacement or in the price matrix. For these vehicles, the actual displacement in litres is suffixed to the model designation. An exception was

1863-829: The Australian Government, has no ties with Nugan Hand and does not involve itself in drug trafficking". Cooperation from the American agencies did not extend to other Australian investigators. NSW Corporate Affairs investigators, Geoffrey Nicholson and Rick Porter, in association with the Nugan Hand liquidator, John O'Brien, requested documents from the FBI and also the CIA. They received documents from both agencies that were so heavily redacted that they were useless. Joint Task Force investigators also made requests through ASIO to

1944-553: The CIA and allegedly arranged for huge sums of money to pass through Nugan Hand for various intelligence operations around the world. Details in Seymour Hersh 's (1981) article 'The Qaddafi Connection' in The New York Times supported Toohey's assertions. In an interview with documentary maker Peter Butt, Michael Hand's military colleague and Nugan Hand 'fixer', Douglas Sapper, claimed that Nugan Hand Bank had been

2025-448: The CIA asking for information. Inexplicably, the requests were never passed on by ASIO. In 1981, Prime Minister Malcolm Fraser , who had hoped the Nugan Hand controversy would fade away, stood before the parliament and told the Australian public that the CIA had no interest in the bank. However, Fraser's assurances were challenged by journalist, Brian Toohey, who wrote that a former CIA agent had told him that Patry E Loomis had worked for

2106-461: The CIA would "shy away from having anything at all to do" with such a badly run bank. The Commission dismissed claims that Houghton was a CIA agent, and that the bank was disseminating money for the CIA. The Commission accepted Colby's evidence that he was merely giving legal advice to Nugan and Hand relating to either or both of them taking up residence in the United States. The Commission concluded that Yates, who had apparently been recruited by Hand,

2187-468: The Daimler Truck AG subsidiary. For information relating to the three-pointed star symbol of the brand, see under the title Daimler-Motoren-Gesellschaft , including the merger into Daimler-Benz. In May 2022, Mercedes-Benz announced that it has recently sold the most expensive car at the price of $ 142 million (€135 million). The car is a very rare 1955 Mercedes-Benz SLR that has been kept in

2268-521: The Far East silk routes . Originally intended for the finance of long trading journeys, these methods were applied to finance the medieval Commercial Revolution . Jews entered the great trading piazzas and halls of Lombardy, alongside the local traders, and set up their benches to trade in crops. They had one great advantage over the locals. Christians were strictly forbidden from any kind of lending at interest, since such activities were equated with

2349-685: The German automaker's collection and bought by a private owner. Mercedes in an announcement said that the sale will be used to establish the Mercedes-Benz Fund. In June 2022, Mercedes-Benz recalled almost one million vehicles built between 2004 and 2015, due to potential problems with their braking system, caused by possible "advanced corrosion". As of the Daimler AG company split, the Mercedes-Benz Cars division now handled

2430-672: The Manila branch of Nugan Hand and had his Manila office (International Development & Planning Corporation) in the same office as the bank. The Royal Commission found that the Nugan Hand Bank was implicated in money-laundering, illegal tax avoidance schemes, and widespread violations of banking laws. One witness, a former Nugan Hand director, stated that Hand threatened bank executives: "If we didn't do what we were told, and things weren't handled properly, our wives would be cut into pieces and put in boxes and sent back to us". However,

2511-962: The Mercedes-Benz Group is no longer involved in the Chinese car brand Denza, as it sold its last ten per cent stake in Denza in July 2024. In 2016, Daimler announced plans to sell Mercedes-Benz-badged fully electric battery cars in China. Beijing Benz is a joint venture with the BAIC Group to produce the Mercedes-Benz branded cars in China. Established in 1995, Mercedes-Benz Vietnam is a joint venture between Saigon Mechanical Engineering Corporation (SAMCO) and Daimler AG . Daimler AG assembles various Mercedes-Benz models from CKD kits at its factory in Ho Chi Minh City . The factory

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2592-460: The Mercedes-Benz Group to form an independent entity at the end of 2021. In 2018, Mercedes-Benz became the world’s largest premium vehicle brand, with a sales volume of 2.31 million passenger cars. The roots of the brand trace back to the 1901 Mercedes by Daimler-Motoren-Gesellschaft and the 1886 Benz Patent-Motorwagen by Carl Benz , which is widely recognized as the first automobile powered by an internal combustion engine. The brand’s slogan

2673-819: The Mercedes-Benz Trucks division is part of the Daimler Truck company and includes other sub-companies that were part of the DaimlerChrysler merger. Gottlieb Daimler sold the world's first truck in 1886. Their first factory to be built outside Germany after World War II was in Argentina . They originally built trucks, many of which were modified by third parties to be used as buses, popularly named Colectivo . Mercedes-Benz has been producing buses since 1895 in Mannheim , Germany. Since 1995,

2754-536: The Mercedes-Benz- and the Smart -branded cars' production. Mercedes-AMG became a majority-owned division of Mercedes-Benz in 1999. The company was integrated into DaimlerChrysler in 1999, and became Mercedes-Benz AMG on 1 January 1999. Daimler's ultraluxury Maybach brand was under the Mercedes-Benz Cars division until December 2012, when production was stopped due to decreased sales. It now exists under

2835-758: The Polytechnic School in Stuttgart from 1857 to 1859. After completing various technical activities in France and England, he started working as a draftsman in Geislingen in 1862. At the end of 1863, he was appointed workshop inspector at a machine-tool factory in Reutlingen, where he met Wilhelm Maybach in 1865. Throughout the 1930s, Mercedes-Benz produced the 770 model, a car that was notably popular throughout Germany's Nazi period. Adolf Hitler

2916-532: The Royal Commission did not find credible evidence of drug-smuggling, arms dealing, and CIA involvement. The Royal Commission found that suggestions of "CIA connections" were widespread, stretching back to an apparent confirmation by a Taiwanese general in 1978. However, the Commission argued there was a lack of specific allegations, let alone evidence to substantiate them. The Commission argued that

2997-535: The Royal Commission found no credible evidence of involvement in the drug trade. However, Stewart stated in his memoirs that he had "no doubt" that Houghton, Nugan, and Hand played a part in drug trafficking at Houghton's Kings Cross establishments. The Royal Commission's findings conflict with the findings of the 1982 NSW Joint Task Force on Drug Trafficking which found that Hand had encouraged Murray Riley and his associates to use Nugan Hand facilities to move drug money. Task Force investigator, Clive Small, concludes that

3078-628: The Stewart Royal Commission was a whitewash: The royal commission was so dismissive of an American connection that many people who read it simply felt that it was a cover up, because it was in effect so superficial and so dismissive. It never attempted to put into context its findings with the findings of the Joint Task Force, which have not been found to be in any way, shape or form inaccurate or unreliable. Politician and judge, John Dowd , stated that Nugan Hand became

3159-530: The UK by Brighton-based Elektromotive , have been installed at seven locations as part of a pilot project, and further expansion of the initiative is planned later in 2010. In the United States, Mercedes-Benz was assessed a record US$ 30.66 million fine for their decision to not meet the federal corporate average fuel economy standard in 2009. Certain Mercedes-Benz cars, including the S550 and all AMG models sold in

3240-520: The United States, also face an additional gas guzzler tax . However, newer AMG models fitted with the M157 engine will not be subject to the gas-guzzler tax, due to improved fuel economy, and newer models powered by the M276 and M278 engines will have better fuel economy. In 2008, Mercedes also had the worst CO 2 average of all major European manufacturers, ranking 14th out of 14 manufacturers. Mercedes

3321-547: The bank allegedly transferred $ 2.4 million to the Liberal Party of Australia which contested two forced elections in 1974 and 1975 to oust Whitlam's Labor government. He also states that the Governor General, Sir John Kerr , who was instrumental to the dismissal, was referred to by the CIA as "our man". The CIA responded to these allegations with an emphatic denial: "The CIA has not engaged in operations against

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3402-535: The bank almost immediately after Nugan's suicide and issued seven interim reports from 1980 until 1983, when it completed its investigation. A report by the New South Wales Corporate Affairs Committee linked former Philippine president Ferdinand Marcos to the bank. Melbourne and Manila businessman Ludwig Petre Rocka had an account at the bank, as did his wife Elizabeth E. Marcos, sister of Ferdinand. Rocka had helped set up

3483-425: The bank from the beginning. The Nugan Hand Bank attracted investors with promises of up to 16% interest rates on their deposits and assurances of anonymity, tax-free accounts, specialist investment assistance, along with more surreptitious services such as money laundering . Nugan Hand rapidly gained business and expanded its offices from a single Sydney office to a global network that included branches (registered in

3564-405: The bank had employed a number of retired United States military and intelligence officers, including former CIA director William Colby . Investors' losses and the speculation surrounding the bank's activities led to three major government investigations over the next five years. The bank's co-founder, American Michael Jon Hand , and two other bank employees were indicted for conspiring to pervert

3645-411: The bank was formed with a fraudulent claim of $ 1m in share capital: "With only $ 80 in the company's bank account and just $ 5 in paid-up capital, Frank Nugan wrote his own company a personal check for $ 980,000 to purchase 490,000 shares of its stock. He then covered his massive overdraft by writing himself a company check for the same amount." Kings Cross restaurateur Bernie Houghton was also involved in

3726-528: The banking business. For the same reasons, merchant banking activities became just one area of interest for modern banks. Here is a list of merchant banks of the past and present: Known as "accepting and issuing houses" in the UK and "investment banks" in the US, modern merchant banks offer a wide range of activities, including Issue management, portfolio management , credit syndication , acceptance credit , counsel on mergers and acquisitions , and insurance. Of

3807-429: The bench's own trades in the meantime. The term bankrupt is a corruption of the Italian banca rotta , or broken bench, which is what happened when someone lost his traders' deposits. Being "broke" has the same connotation. A sensible manner of discounting interest to the depositors against what could be earned by employing their money in the trade of the bench soon developed; in short, selling an "interest" to them in

3888-564: The birth of Mercedes-Benz as a brand. In 1901, the name "Mercedes" was re-registered by DMG worldwide as a protected trademark. The first Mercedes-Benz branded vehicles were produced in 1926, following the merger of Karl Benz and Gottlieb Daimler's companies into the Daimler-Benz company on 28 June of the same year. Gottlieb Daimler was born on 17 March 1834 in Schorndorf. After training as a gunsmith and working in France, he attended

3969-495: The brands of Mercedes-Benz's buses and coaches are under the umbrella of EvoBus GmbH, since December 2021 belonging to Daimler Truck AG. EvoBus, through its regional subsidiaries, markets them in European countries, while in other regions of the world marketing and sales duties are passed to regional subsidiaries of Daimler Truck. Mercedes-Benz produces a wide range of buses and coaches, mainly for Europe and Asia. The first model

4050-522: The buyer of the crop through alternative sources—grain stores or alternate markets, for instance—in the event of crop failure. He could also keep the farmer (or other commodity producer) in business during a drought or other crop failure , through the issuance of a crop (or commodity) insurance against the hazard of failure of his crop. Merchant banking progressed from financing trade on one's own behalf to settling trades for others and then to holding deposits for settlement of "billette" or notes written by

4131-619: The course of justice by destroying or removing bank records. Hand fled overseas in June 1980. In 1985, a Royal Commission of Inquiry found that while the bank had committed numerous violations of banking laws, the allegations of drug-smuggling, arms dealing and involvement in CIA activities were not substantiated. Nugan Hand Ltd. was founded in Sydney in 1973 by Australian lawyer Francis John "Frank" Nugan and former U.S. Green Beret Michael Jon "Mike" Hand . According to writer Alfred W. McCoy ,

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4212-445: The destruction of all incriminating records relating to Riley's money transfers. The bank's collapse was precipitated by the death of its founder Frank Nugan in the early hours of 27 January 1980. Nugan, who was facing charges of stock fraud, was found shot dead by a .30-calibre rifle in his Mercedes-Benz outside Lithgow, New South Wales . An inquest later returned a verdict of suicide. However, questions remain unanswered in regard to

4293-610: The failure of the FBI to find him, given that Fuller's social security numbers are identical to Hand's. In Ross Coulthart's 60 Minutes (Nine Network, Australia) segment, he approached Hand as he was leaving a chemist shop in Idaho Falls. Merchant bank In modern usage in the United States , the term additionally has taken on a more narrow meaning, and refers to a financial institution providing capital to companies in

4374-800: The first quarter of 2007, Mercedes showed dramatic improvement by climbing from 25th to 5th place and earning several awards for its newer models. For 2008, Mercedes-Benz's initial quality rating improved by yet another mark, to 4th place. On top of this accolade, it also received the Platinum Plant Quality Award for their Mercedes branded Sindelfingen, Germany body assembly plant. J. D. Power's 2011 US Initial Quality and Vehicle Dependability Studies both ranked Mercedes-Benz vehicles above average in build quality and reliability. In J. D. Power's United Kingdom Survey in 2011, Mercedes cars were rated above average. Additionally, iSeeCars.com study for Reuters in 2014 found Mercedes to have

4455-939: The first, the Commonwealth-New South Wales Joint Task on Drug Trafficking, consisted of investigators from federal and state government, and lasted from 1980 to 1983; the second, the Royal Commission of Inquiry into the Activities of the Nugan Hand Group, was headed by Donald G. Stewart , and lasted from 1983 to 1985. In addition, the Corporate Affairs Commission of New South Wales, a state level organ charged with regular oversight of business activities in New South Wales, began looking into

4536-417: The form of share ownership instead of loans. A merchant bank also provides advice on corporate matters to the firms in which they invest. Merchant banks were the first modern banks. They emerged in the Middle Ages from the Italian grain and cloth merchants community and started to develop in the 11th century during the large European fair of St. Giles (England) , then at the Champagne fairs (France). As

4617-413: The future delivery of grain shipped to distant ports. In both cases, they made their profit from the present discount against the future price. This two-handed trade was time-consuming and soon there arose a class of merchants who were trading grain debt instead of grain. The court Jew performed both financing (credit) and underwriting (insurance) functions. Financing took the form of a farmer obtaining

4698-423: The greater performance. Another example is the E250 CGI having greater performance than the E200 CGI due to the different engine tuning even though both have 1.8-litre engines. From the marketing perspective, E200 seems more "upscale" than E180. Recent AMG models use the "63" designation (in honor of the 1960s 6.3-litre M100 engine) despite being equipped with either a 6.2-litre ( M156 ), a 5.5-litre ( M157 ) or even

4779-493: The international movement of illegal funds for both drug smugglers and the CIA. The Stewart Royal Commission's decision that there was no evidence to support these allegations astonished these early investigators. Revelations by the American defence industry employee, Christopher Boyce , initiated speculation that the CIA and Nugan Hand had also played some part in the dismissal of Australian Prime Minister, Gough Whitlam . For instance, William Blum (1999) states inter alia, that

4860-453: The labourers' families. In 1958, the two companies began a partnership to sell their cars in the United States with Studebaker . A few American-based Daimler Benz dealerships were converted into Mercedes-Benz dealerships when Daimler's non-Mercedes-partnered company closed in 1966. Over the decades, Mercedes-Benz has introduced many electronic and mechanical innovations and safety features that later became common. Currently, Mercedes-Benz

4941-480: The lack of fingerprints on the weapon and the probability that the police who found Nugan had prior knowledge of his death. Suspicions about the bank's activities grew in subsequent days as details of the contents of Nugan's car emerged. Of special interest was the business card of William Colby. Furthermore, Nugan's office had been ransacked, and Hand and Yates had ordered important company files destroyed or hidden elsewhere. Peter Butt states that Brian Alexander, who

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5022-555: The late 18th century, Protestant merchant families began to move into banking to an increasing degree, especially in trading countries such as the United Kingdom ( Barings ), Germany ( Schroders , Berenbergs ) and the Netherlands ( Hope & Co. , Gülcher & Mulder ) At the same time, new types of financial activities broadened the scope of banking far beyond its origins. The merchant-banking families dealt in everything from underwriting bonds to originating foreign loans . For instance, bullion trading and bond issuance were two of

5103-435: The left and S500/S600 on the right. Mercedes-Benz has developed multi- concept cars with alternative propulsion, such as hybrid-electric, fully electric, and fuel-cell powertrains . At the 2007 Frankfurt motor show , Mercedes-Benz showed seven hybrid models, including the F700 concept car , powered by a hybrid-electric drivetrain featuring the DiesOtto engine. In 2009, Mercedes-Benz displayed three BlueZERO concepts at

5184-445: The lowest vehicle recall rate out of competitors. Mercedes-Benz offers a versatile range of consumer-passenger, light commercial and heavy commercial equipment. These vehicles are manufactured in multiple countries worldwide. The Smart marque of city cars are also produced by Daimler AG. Mercedes-Benz currently offers three types of vans; Citan , Vito , and Sprinter . They are all produced by Daimler AG. Since December 2021,

5265-401: The naming system. Models were divided into "classes" denoted by an arrangement of up to three letters (see "Current model range" above), followed by a three-digit (or two-digit for AMG models, with the number approximately equal to the displacement in litres multiplied by 10) number related to the engine displacement as before. Variants of the same model such as an estate version or a vehicle with

5346-453: The people who were still brokering the actual grain. And so the merchant's "benches" ( bank is derived from the Italian for bench, banco , as in a counter ) in the great grain markets became centers for holding money against a bill ( billette , a note, a letter of formal exchange, later a bill of exchange and later still a cheque ). These deposited funds were intended to be held for the settlement of grain trades, but often were used for

5427-481: The recruitment of a number of retired senior U.S. military and intelligence personnel, such as former Rear Admiral Earl P. Yates as bank president and ex- CIA head William Colby as legal counsel. Australian trucking magnate Peter Abeles was also connected with the bank. Bernie Houghton became the bank's Saudi Arabian representative; but eventually had to flee that country in a hail of bullets, as depositors sought to recover their money. Michael Hand had formed

5508-600: The same families who had been part of the development of the banking process in Italy. They also had links with family members who had, centuries before, fled Spain for both Italy and England. As non-agricultural wealth expanded, many families of goldsmiths (another business not prohibited to Jews) also gradually moved into banking. This course of events set the stage for the rise of Jewish family banking firms whose names still resonate today, such as Warburgs and Rothschilds . The rise of Protestantism , however, freed many European Christians from Rome's dictates against usury. In

5589-452: The sin of usury . Jewish law disallowed usury among Jews, but not when the borrower was Gentile. The Jewish newcomers, on the other hand, could lend to farmers against crops in the field, a high-risk loan at what would have been considered usurious rates by the Church; but the Jews were not subject to the Church's dictates. In this way they could secure the grain-sale rights against the eventual harvest. They then began to advance payment against

5670-446: The specialties of the Rothschilds. In 1803, Barings teamed with Hope & Co. to facilitate the Louisiana Purchase . In the 19th century, the rise of trade and industry in the US led to powerful new private merchant banks, culminating in J.P. Morgan & Co. During the 20th century, however, the financial world began to outgrow the resources of family-owned and other forms of private-equity banking. Corporations came to dominate

5751-443: The time, it was a meeting place for the haute volée of France and Europe, especially in winter. His customers included the Rothschild family and other wealthy clients, but as early as 1901, he was selling Mercedes cars in the " New World " as well, including to billionaires Rockefeller , Astor , Morgan , and Taylor. At the Nice race he attended in 1899, Jellinek drove under the pseudonym "Monsieur Mercédès". Many consider that race

5832-595: The two classes of merchant banks, the US variant initiates loans and then sells them to investors. These investors can be private investment firms . Even though some of these companies call themselves "merchant banks", they have few, if any, of the characteristics of former merchant banks. Today, according to the US Federal Deposit Insurance Corporation (FDIC), "the term merchant banking is generally understood to mean negotiated private equity investment by financial institutions in

5913-587: The unregistered securities of either privately or publicly held companies." Both commercial banks and investment banks may engage in merchant banking activities. In 2016, the Federal Reserve proposed a ban on merchant banking as part of a “take no risk” regulation strategy. Mercedes-Benz This is an accepted version of this page Mercedes-Benz ( German pronunciation: [mɛʁˌtseːdəs ˈbɛnts, -dɛs -] ), commonly referred to simply as Mercedes and occasionally as Benz ,

5994-574: The vehicle to quietly move drug industry money. Dowd said that this led to dealing with corrupt governments and the CIA, but in Australia during the 1970-80s, the CIA was seen as "the good guys". Similarly, former NSW Attorney General, Frank Walker , insisted that from the government's perspective, having good relations between ASIO and the CIA was more important than bringing criminals to justice. Investigative authors, Kwitney J. (1987) and McCoy A.W. (1991) asserted that Nugan Hand Bank had facilitated

6075-538: The world to use a lithium-ion battery . In mid-2010, production commenced on the Vito E-Cell all-electric van. In 2008, Mercedes-Benz announced that it would have a demonstration fleet of small electric cars in two to three years. Mercedes-Benz and Smart are preparing for the widespread uptake of electric vehicles (EVs) in the UK by beginning the installation of recharging points across their dealer networks. So far 20 Elektrobay recharging units, produced in

6156-400: Was first marketed in 1901 by Daimler Motoren Gesellschaft (DMG). Emil Jellinek-Mercedes , an Austrian automobile entrepreneur who worked with DMG, registered the trademark in 1902, naming the 1901 Mercedes 35 hp after his daughter Mercedes Jellinek . Jellinek was a businessman and marketing strategist who promoted "horseless" Daimler automobiles among the highest circles of society. At

6237-409: Was insolvent, owing at least A$ 50 million, and as much as hundreds of millions, including $ 20,000 rent on its Sydney headquarters. After destroying many of Nugan Hand's records, Hand fled Australia under a false identity in June 1980. Three major government investigations issued reports devoted to the activities of Nugan Hand. Two of these were from bodies specifically created to examine the scandal:

6318-625: Was known to have driven in a model of this car during his time in power, with modified custom bulletproof windshields. Most of the currently surviving 770 models were sold at auctions to private buyers. One of the cars is currently on display at the War Museum in Ottawa, Ontario . From 1937 onward, Daimler Benz focused increasingly on military products such as the LG3000 lorry and the DB600 and

6399-644: Was on bail facing charges related to the Mr Asia drug syndicate , accompanied investigators when they searched the deceased Nugan's home. During the search, the investigators were interrupted by police officers who were responding to an anonymous phone caller who had claimed that police were in trouble at the residence. As a result, Alexander roamed freely and had the opportunity to remove incriminating documents. The official inquest into Nugan's death in April 1980 made front-page news, amid testimony from Hand that Nugan Hand

6480-487: Was produced by Karl Benz in 1895. The Mercedes-Benz 600 or 600S Pullman Guard limousines offer the option of armour-plating and have been used by diplomats worldwide. Until 1994, Mercedes-Benz utilized an alphanumeric system for categorizing their vehicles, consisting of a number sequence approximately equal to the engine's displacement in liters multiplied by 100, followed by an arrangement of alphabetical suffixes, indicating body style and engine type. Some models in

6561-443: Was responsible for the involvement of other retired military and intelligence personnel. According to the commission, Hand believed they would instil confidence in the bank, and their knowledge of South East Asia would be advantageous. Stewart later commented that the involvement of these figures gave the impression that the bank had connections that it did not actually have. Apart from the bank accepting deposits with no questions asked,

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