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153-580: Sotheby's ( / ˈ s ʌ ð ə b i z / SUDH -ə-beez ) is a British-founded multinational corporation with headquarters in New York City . It is one of the world's largest brokers of fine and decorative art , jewellery , and collectibles . It has 80 locations in 40 countries, and maintains a significant presence in the UK. Sotheby's was established on 11 March 1744 in London by Samuel Baker,

306-553: A Nevada general partnership and a subsidiary of Sotheby's Holding Company. The subsidiary paid $ 143 million for the contents of the Pierre Matisse Gallery in Manhattan, which included about 2,300 works by artists including Miró , Jean Dubuffet , Alberto Giacometti , and Marc Chagall , and began selling the works both at auction and privately. In 1996, Sotheby's acquired Andre Emmerich Gallery to operate

459-579: A 13.5% stake. On 25 January 2018, Sotheby's acquired the AI company Thread Genius for an undisclosed amount. In February 2019, Sotheby's announced a redesign and expansion of its New York headquarters on the Upper East Side that is being led by the designer Shohei Shigematsu of the Office for Metropolitan Architecture (OMA). The exhibition space there will grow to over 90,000 square feet from 67,000, and

612-579: A 50% interest in Deitch Projects but later sold its share back to Jeffrey Deitch . In 1997, it also bought Leslie Hindman Auctioneers in Chicago; by 2001, it stopped holding auctions in the city. In 2006, Sotheby's acquired a Dutch dealership, Noortman Master Paintings, from its owner, Robert Noortman , for $ 82.5 million ($ 56.5 million worth of Sotheby's stock and assumption of more than $ 26 million in gallery debt, including $ 11.7 million owed to

765-401: A bank reference. There are four ways buyers can bid: in person at the auction rooms, by telephone, bid live online or make an absentee bid online. When a bid is successful, Sotheby's calculates and sums the hammer price, the buyer's premium and taxes. Sellers are required to submit an Auction Estimate Form, providing thorough information and a photograph of the item. Once accepted for auction,

918-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

1071-572: A bimonthly online magazine since November–December 2018, Sotheby's Magazine . In 1969, Sotheby's founded Sotheby's Institute of Art in London. The Institute now offers full-time accredited master's degrees as well as a range of online and other courses. Sotheby's International Realty is a luxury real estate brand founded in 1976 by Sotheby's. It operates as a franchise. RM Sotheby's deals in classic cars, headquartered in Canada with offices across

1224-488: A bookseller. In 1767 the firm became Baker & Leigh , after George Leigh became a partner, and was renamed to Leigh and Sotheby in 1778 after Baker's death when Leigh's nephew, John Sotheby , inherited Leigh's share. Other former names include: Leigh, Sotheby and Wilkinson ; Sotheby, Wilkinson and Hodge (1864–1924); Sotheby and Company (1924–83); Mssrs Sotheby ; Sotheby & Wilkinson ; Sotheby Mak van Waay ; and Sotheby's & Co . The American holding company

1377-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

1530-415: A daily newspaper. In the 1830s, general Alexander Bashilov planned the first regular grid of city streets north from Petrovsky Palace. Khodynka field south of the highway was used for military training. Smolensky Rail station (forerunner of Belorussky Rail Terminal ) was inaugurated in 1870. Sokolniki Park , in the 18th century the home of the tsar's falconers well outside Moscow, became contiguous with

1683-421: A defined period of time, on works that clients are not planning to sell, in part to "establish or enhance mutually beneficial relationships with borrowers" that can lead to future consignments. While traditional lenders such as banks provide loans at a lower cost to borrowers, Sotheby's said in its 2011 annual report, few will accept works of art as the sole collateral. Sotheby's Picture Library contained images in

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1836-592: A division called Emmerich/Sotheby's, As a consequence, the Josef and Anni Albers Foundation , the main beneficiary of the artists' estates, as well as the estates of Morris Louis and Milton Avery announced that they would not renew their Emmerich contracts. That decision came right after it was disclosed that Sotheby's had decided to close Emmerich's prime space at 41 East 57th Street, and that its artists would be handled out of Deitch Projects. Sotheby's subsequently closed Andre Emmerich in 1998. In 1997, Sotheby's purchased

1989-424: A former museum building designed by Marcel Breuer , to house the company's headquarters, including its galleries, exhibition space, and auction room. The company plans to open its new space in 2025. Sotheby's became a UK public company in 1977. In 1980, after a drop in sales, Sotheby's relocated its North American headquarters from Madison Avenue to a former cigar factory at 1334 York Avenue, New York. In 1982,

2142-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

2295-565: A gallery for private sales close to its branch in London, in a five-story block at 31 George Street. The auction house also conducts private sales through its selling exhibitions of monumental sculpture at Chatsworth House , Derbyshire, and at the Singapore Botanic Gardens . Established in 1988, Sotheby's Financial Services offers loans for consigned property and loans against the value of client's items through customized terms. The auction house also makes term loans, for

2448-443: A line of a dozen wines. The project took two years to complete, and is based on Sotheby's best-selling wines, both those represented in-store and on its e-commerce platform. Additionally, the collection reflects some of the long-standing relationships Sotheby's has with producers around the world. The Sotheby's Wine Encyclopedia has been published in several editions since 1988, written by Tom Stevenson . Sotheby's has produced

2601-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

2754-460: A move to online auctions during the 2020 pandemic; and announcing an end to Sotheby's employee pension plan in 2022. In 2020, Sotheby's overtook Christie's as the world's top auction house for the first time since 2011, with over $ 5 billion in aggregate sales compared to its rival's $ 4.4 billion. As of late 2021, Drahi's son, Nathan Drahi, was the managing director of Sotheby's Asia. In June 2023, Sotheby's agreed to purchase 945 Madison Avenue ,

2907-591: A prosperous city that would eclipse its parent principality of Vladimir by the 1320s. On the right bank of the Moskva River, at a distance of eight kilometres (5 mi) from the Kremlin, by 1282 Daniel founded the first monastery with the wooden church of St. Daniel-Stylite, which is now the Danilov Monastery. Daniel died in 1303, aged 42. Before his death, he became a monk and, according to his will,

3060-511: A record 411 hours in July 2014, 79% of possible sunshine. December 2017 was the darkest month in Moscow since records began, with only six minutes of sunlight. Temperatures in the centre of Moscow are often significantly higher than in the outskirts and nearby suburbs, especially in winter. For example, if the average January temperature in the north-east of Moscow is −6.2 °C (20.8 °F), in

3213-448: A symptom of disorderly lifestyles of lower-class Russians recently arrived from the farms. Elites called for improved sanitation, which became part of Catherine's plans for increasing control over social life. National political and military successes from 1812 through 1855 calmed the critics and validated efforts to produce a more enlightened and stable society. There was less discussion about the poor conditions of public health. However, in

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3366-652: A variety of formats available for licensing, and was one of the image suppliers to various databases such as the British Association of Picture Libraries and Agencies (BAPLA). However, only the image archive mentioned on the Sotheby's website as of April 2021 is an out-of-date reference to the Cecil Beaton Studio Archive, which Cecil Beaton sold to Sotheby's in 1977. In October 2019, Sotheby's launched Sotheby's Own Label Collection ,

3519-499: A week or two at a time. In the winter, average temperatures normally drop to approximately −10 °C (14 °F), though almost every winter there are periods of warmth with day temperatures rising above 0 °C (32 °F), and periods of cooling with night temperatures falling below −20 °C (−4 °F). These periods usually last about a week or two. The growing season in Moscow normally lasts for 156 days usually around 1 May to 5 October. The highest temperature ever recorded

3672-538: Is 19.7 °C (67.5 °F). The lowest ever recorded temperature was −42.1 °C (−43.8 °F) in January 1940. Snow, which is present for about five months a year, often begins to fall mid-October, while snow cover lies in late November and melts at the end of March. On average, Moscow has 1731 hours of sunshine per year, varying from a low of 8% in December to 52% from May to August. This large annual variation

3825-668: Is a surname, most common in Russia, Bulgaria , Ukraine and North Macedonia . Additionally, there are similarly named places in Poland like Mozgawa . According to a Finno-Ugric hypothesis, the Merya and Muroma people, who were among the pre-Slavic tribes which inhabited the area, called the river Mustajoki "Black river", and the name of the river derives from this term. Other theories, having little or no scientific basis, are rejected by linguists. The original Old Russian form of

3978-472: Is about −7.0 °C (19.4 °F). At the end of January–February it is often colder, with frosts reaching −30.0 °C (−22.0 °F) a few nights per year (2006, 2010, 2011, 2012, and 2013). The last decade was the warmest in the history of meteorological observations of Moscow. Temperature changes in the city are depicted in the table below: Moscow is one of the few cities with paleontological monuments of world significance on its territory. One of them

4131-485: Is due to convective cloud formation. In the winter, moist air from the Atlantic condenses in the cold continental interior, resulting in very overcast conditions. However, this same continental influence results in considerably sunnier summers than oceanic cities of similar latitude such as Edinburgh . Between 2004 and 2010, the average was between 1800 and 2000 hours with a tendency to more sunshine in summer months, up to

4284-437: Is global, not regional. During the summer, extreme heat is often observed in the city (2001, 2002, 2003, 2010 , 2011, 2021 ). Along with a southern part of Central Russia , after recent years of hot summer seasons, the climate of the city gets hot-summer classification trends. Winter also became significantly milder: for example, the average January temperature in the early 1900s was −12.0 °C (10.4 °F), while now it

4437-537: Is home to Russian companies in different industries and is served by a comprehensive transit network, which includes four international airports , ten railway terminals, a tram system , a monorail system , and the Moscow Metro , which is the busiest metro system in Europe and one of the largest rapid transit systems in the world. The city has over 40 percent of its territory covered by greenery, making it one of

4590-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

4743-643: Is one of twelve Hero Cities . The demonym for a Moscow resident is rendered as Muscovite in English. The site of modern-day Moscow has been inhabited since prehistoric times. Among the earliest finds are relics of the Lyalovo culture , which experts assign to the Neolithic period. They confirm that the first inhabitants of the area were hunters and gatherers. Around 950 AD, two Slavic tribes, Vyatichi and Krivichi , settled here. The Vyatichi may have formed

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4896-760: Is the Gorodnya River with its tributaries, on the banks of which outcrops of the Quaternary and older Cretaceous periods are located. Fossils of the bivalve mollusk Inoceramus kleinii and tubular passages of burrowing animals, described in 2017 as a new ichnospecies Skolithos gorodnensis , were discovered in the Coniacian deposits near the stream bed of the Bolshaya Glinka River. Ichnogenera Diplocraterion , Planolites , Skolithos and possibly Ophiomorpha were found in

5049-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

5202-640: The 1980 Summer Olympics and one of the host cities of the 2018 FIFA World Cup . The city contains several UNESCO World Heritage Sites and is known for its display of Russian architecture , particularly in areas such as the Red Square and buildings such as the Saint Basil's Cathedral and the Moscow Kremlin , the latter of which is the seat of power of the Government of Russia . Moscow

5355-581: The Albian deposits. Paleolithic flint tools were discovered in the Quaternary deposits of the Bolshaya Glinka stream bed. In 1878, paleontologist Hermann Trautschold discovered the left flipper of an ichthyosaur near the village of Mnevniki, which later became part of Moscow. In 2014, the animal was named Undorosaurus trautscholdi , after its discoverer. Trautschold determined the age of

5508-772: The Moja Ulitsa (in English: My Street ) urban redevelopment program or the Residency renovation one. By its territorial expansion on 1 July 2012, southwest into the Moscow Oblast the area of the capital more than doubled, going from 1,091 to 2,511 square kilometers (421 to 970 sq mi), resulting in Moscow becoming the largest city on the European continent by area; it also gained an additional population of 233,000 people. The annexed territory

5661-533: The Moskva and Neglinnaya and be filled with water from Neglinnaya. Known as the Alevizov moat and with a length of 541 metres (1,775 feet), width of 36 metres (118 feet), and depth of 9.5 to 13 metres (31–43 feet) was lined with limestone and, in 1533, fenced on both sides with low, four-metre-thick (13-foot) cogged-brick walls. In the 16th and 17th centuries, three circular defenses were built: Kitay-gorod ,

5814-463: The Nasher Museum . The Sotheby's Prize program concluded in 2020, following a promise to honor existing commitments to shows that are still in formation. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

5967-537: The Republic of Crimea . The areas operate in what is referred to in international standards as Moscow Standard Time (MSK, МСК ) , which is 3 hours ahead of UTC , or UTC+3 . Daylight saving time is no longer observed. According to the geographical longitude the average solar noon in Moscow occurs at 12:30. Moscow has a humid continental climate ( Köppen : Dfb ) with long, cold (although average by Russian standards) winters usually lasting from mid-November to

6120-644: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

6273-677: The Wehrmacht and 650,000-1,280,000 for the Red Army. During the postwar years, there was a housing crisis, solved by the invention of high-rise apartments . There are over 11,000 of these standardised and prefabricated apartment blocks, housing most of Moscow's population, making it by far the city with the most high-rise buildings. Apartments were built and partly furnished in the factory, before being raised and stacked into tall columns. The popular Soviet-era comic film Irony of Fate parodies this construction method. The city of Zelenograd

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6426-781: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

6579-573: The "White-Walled". The city's limits as marked by the ramparts, are now marked by the Garden Ring . Three square gates existed on the east side of the Kremlin wall, which in the 17th century, were known as Konstantino-Eleninsky, Spassky, Nikolsky (after the icons of Constantine and Helen, the Saviour and St. Nicholas that hung over them). The last two were directly opposite the Red Square, while

6732-418: The 15th century, but it was developed into a prestigious area during the 18th century. It was destroyed in the fire of 1812 and was rebuilt completely in the early 19th century. Moscow State University was established in 1755. Its main building was reconstructed after the 1812 fire by Domenico Giliardi . The Moskovskiye Vedomosti newspaper appeared from 1756, originally in weekly intervals, and from 1859 as

6885-515: The 1990s expressed interest in sites that ranged from the old Alexander's building on East 59th Street to the New York Coliseum site on Columbus Circle , and was even considering moving into the old B. Altman Building on Fifth Avenue. The company eventually bought its York Avenue building for $ 11 million in 2000 and completed a $ 140 million expansion and renovation in 2001, adding six floors and 240,000 square feet. The renovation added

7038-432: The 1990s to 2000s, its population rising from below nine to above ten million. Mason and Nigmatullina argue that Soviet-era urban-growth controls produced controlled and sustainable metropolitan development, typified by the greenbelt built in 1935. Since then, however, there has been a dramatic growth of low-density suburban sprawl, created by heavy demand for single-family dwellings as opposed to crowded apartments. In 1995–97

7191-462: The Dukes of Devonshire and of Buckingham (both related to George Leigh), were sold through Samuel Baker's auctions. After Baker's death in 1778, the business was left to Leigh and his nephew John Sotheby , where it became a prominent book auction house and was renamed Leigh and Sotheby. George Leigh died in 1816, but not before recruiting Samuel E Leigh into the business. Under the Sotheby family,

7344-496: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

7497-607: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

7650-727: The General Staff of the Red Army were located in Moscow. In 1941, 16 divisions of the national volunteers (more than 160,000 people), 25 battalions, and 4 engineering regiments were formed among the Muscovites. Between October 1941 and January 1942, the German Army Group Centre was stopped at the outskirts of the city, then driven off in the Battle of Moscow . Many factories were evacuated, together with much of

7803-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

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7956-609: The Konstantino-Elenensky gate was located behind Saint Basil's Cathedral. The Russian famine of 1601–03 killed perhaps 100,000 in Moscow. Between 1610 and 1612, troops of the Polish–Lithuanian Commonwealth occupied Moscow, as its ruler Sigismund III tried to take the Russian throne. In 1612, Nizhny Novgorod and other Russian cities led by prince Dmitry Pozharsky and Kuzma Minin rose against

8109-710: The London auction market, which capitalised on the arts. In 1964, Sotheby's purchased Parke-Bernet , the largest auctioneer of fine art in the United States at the time. In the following year, Sotheby's moved to 980 Madison Avenue , New York. With the international fine art auction industry growing, Sotheby's opened offices in Paris and Los Angeles in 1967, and became the first auction house to operate in Hong Kong in 1973, and Moscow in 1988. As well as numerous high-profile real-life auctions being held at Sotheby's,

8262-529: The MKAD ring road was widened from the initial four to ten lanes. In December 2002 Bulvar Dmitriya Donskogo became the first Moscow Metro station that opened beyond the limits of MKAD. The Third Ring Road , intermediate between the early 19th-century Garden Ring and the Soviet-era outer ring road, was completed in 2004. The greenbelt is becoming more and more fragmented, and satellite cities are appearing at

8415-545: The Mongols under Batu Khan burned the city to the ground and killed its inhabitants. The timber fort na Moskvě "on the Moscow River" was inherited by Daniel , the youngest son of Alexander Nevsky , in the 1260s. Daniel was still a child at the time, and the big fort was governed by tiuns (deputies), appointed by Daniel's paternal uncle, Yaroslav of Tver . Daniel came of age in the 1270s and became involved in

8568-557: The NYSE. In 2024 the Abu Dhabi sovereign wealth fund ADIA acquired a minority stake in Sotheby's, with a total investment of approximately $ 1 billion in the house. Sotheby's auctions are usually held during the day. The majority are free and open to the public, with the exception of occasional evening auctions, which require tickets. Attendees have no obligation to bid. Bidding finishes when only one bidder remains willing to purchase

8721-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

8874-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

9027-811: The Polish occupants, besieged the Kremlin, and expelled them . In 1613, the Zemsky Sobor elected Michael Romanov tsar, establishing the Romanov dynasty . The 17th century saw several risings, such as the liberation of Moscow from the Polish–Lithuanian invaders (1612), the Salt Riot (1648), the Copper Riot (1662), and the Moscow Uprising of 1682 . During the first half of the 17th century,

9180-418: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

9333-404: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

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9486-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

9639-507: The US and Europe. Formerly RM Auctions, the company has been part-owned by Sotheby's since 2015. The Sotheby's Prize, launched in 2017, is a $ 250,000 annual award given to museums that exhibit what are vaguely described as "groundbreaking shows". The inaugural winners were Many Tongues: Art, Language and Revolution in the Middle East and South Asia curated by Omer Kholeif of the Museum of Contemporary Art in Chicago and Pop América: Contesting Freedom, 1965–1975 curated by Esther Gabara of

9792-491: The US and other Western countries due to the Soviet Union's invasion of Afghanistan in 1979. In 1991 Moscow was the scene of a coup attempt by conservative communists opposed to the liberal reforms of Mikhail Gorbachev . When the USSR was dissolved in 1991, Moscow remained the capital of the Russian Federation . Since then, a market economy has emerged, producing an explosion of Western-style retailing, services, architecture, and lifestyles. The city continued to grow during

9945-450: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

10098-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

10251-558: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

10404-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

10557-418: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

10710-410: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

10863-407: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

11016-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

11169-621: The White City and the Earthen City. However, in 1547, fires destroyed much of the town, and in 1571 the Crimean Tatars captured Moscow , burning everything except the Kremlin. The annals record that only 30,000 of 200,000 inhabitants survived. The Crimean Tatars attacked again in 1591, but were held back by new walls, built between 1584 and 1591 by a craftsman named Fyodor Kon . In 1592, an outer earth rampart with 50 towers

11322-636: The actual 20th anniversary of the victory in World War II, Moscow was awarded a title of the Hero City . The Moscow Ring Road (MKAD) was opened in 1961. It had four lanes running 109 kilometres (68 miles) along the city borders. The MKAD marked the administrative boundaries of the city until the 1980s, when outlying suburbs beyond the ring road were incorporated. In 1980, Moscow hosted the Summer Olympic Games , which were boycotted by

11475-507: The ancient " Novgorod Chronicle " and made it a propaganda vehicle for his regime. The original Moscow Kremlin was built in the 14th century. It was reconstructed by Ivan, who in the 1480s invited architects from Renaissance Italy , such as Petrus Antonius Solarius , who designed the new Kremlin wall and its towers, and Marco Ruffo who designed the new palace for the prince. The Kremlin walls as they now appear are those designed by Solarius, completed in 1495. The Kremlin's Great Bell Tower

11628-530: The auction house closed its Madison Avenue galleries at East 76th Street, and its Los Angeles galleries were sold and West Coast auctions moved to New York. In 1983, a group of investors including American millionaire Alfred Taubman purchased and privatized Sotheby's. Sotheby's was initially incorporated as Sotheby's Holdings, Inc. in Michigan in August 1983. In 1988, Taubman took Sotheby's public and listed

11781-819: The auction house extended its activities to auctioning prints, medals, and coins. John Wilkinson, Sotheby's senior accountant, became a partner and eventually the company's new head of the company when the last member of the Sotheby family died in 1861. The business did not seek to auction fine arts initially. Their first major success in this field was the sale of a Frans Hals painting for nine thousand guineas in 1913. Other former names include: Leigh, Sotheby and Wilkinson; Sotheby, Wilkinson and Hodge (1864–1924); Sotheby and Company (1924–83); Mssrs Sotheby; Sotheby & Wilkinson; Sotheby Mak van Waay; and Sotheby's & Co. In 1917, Sotheby's relocated from 13 Wellington Street to 34–35 New Bond Street , which remains as its London base. They soon came to rival Christie's as leaders of

11934-413: The auction house). Sotheby's and Noortman had collaborated before in 1995, when the sales of Dutch plastic millionaire Joost Ritman were divided between the two companies. Already in 1990, Sotheby's New York had successfully lobbied for a zoning change permitting the construction of a 27-story residential tower above the five-story headquarters; this expansion was never realised. Instead, Sotheby's throughout

12087-554: The auction industry but had overseen a doubling of profits during his time at Madison Square Garden . In 2015, the auction house's longest-serving auctioneer, David Redden , and vice-chairman retired. In 2016, the company spent $ 50 million on Art Agency Partners, run by Amy Cappellazzo, Allan Schwartzman and Adam Chinn. The price was shared among the trio, as well as $ 35 million performance-related bonus. The five-year contract expired in 2021. In July 2016, Chinese insurance company Taikang Life became Sotheby's largest shareholder, with

12240-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

12393-443: The buying and selling process in a private setting. Private Sales accounted for 16.5% of all Sotheby's sales in 2011. That year, Sotheby's inaugurated a new gallery space called S2 at its York Avenue headquarters with a show of work by American abstract painter Sam Francis . Unlike Haunch of Venison , a gallery that Christie's bought in 2007, S2 is solely devoted to showcasing the auction house's private sales. In 2013, Sotheby's opened

12546-511: The capability to store works on the same premises as the specialist departments, galleries , and auction spaces. Sotheby's New York's offices also house Sotheby's Wine and the former Bid (an American contemporary restaurant and later bistro ), which was closed due to poor attendance. The company sold the building in 2002 for $ 175 million. In May 2007, Sotheby's opened an office in Moscow in response to rapidly growing interest among Russian buyers in

12699-692: The capital of the Grand Duchy of Moscow . When the Tsardom of Russia was proclaimed, Moscow remained the political and economic center for most of its history. Under the reign of Peter the Great , the Russian capital was moved to the newly founded city of Saint Petersburg in 1712, decreasing Moscow's influence. Following the Russian Revolution and the establishment of the Russian SFSR ,

12852-620: The capital was moved back to Moscow in 1918, where it later became the political center of the Soviet Union . In the aftermath of the dissolution of the Soviet Union , Moscow remained the capital city of the newly established Russian Federation. The northernmost and coldest megacity in the world, Moscow is governed as a federal city , where it serves as the political, economic, cultural, and scientific center of Russia and Eastern Europe . As an alpha world city , Moscow has one of

13005-441: The city and −30 °C (−22 °F) in the suburbs to above 5 °C (41 °F) in the winter, and from 10 to 35 °C (50 to 95 °F) in the summer. Typical high temperatures in the warm months of June, July, and August are around a comfortable 20 to 26 °C (68 to 79 °F), but during heat waves (which can occur between May and September), daytime high temperatures often exceed 30 °C (86 °F), sometimes for

13158-502: The city. The plague epidemics ravaged Moscow in 1570–1571, 1592 and 1654–1656. The plague killed upwards of 80% of the people in 1654–55. Fires burned out much of the wooden city in 1626 and 1648. In 1712 Peter the Great moved his government to the newly built Saint Petersburg on the Baltic coast. After losing the status as capital, the population at first decreased, from 200,000 in the 17th century to 130,000 in 1750. But after 1750,

13311-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

13464-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

13617-531: The company's shares on the New York Stock Exchange (NYSE), making Sotheby's the oldest publicly traded company on the NYSE under the ticker symbol "BID". In June 2006, Sotheby's Holdings, Inc. reincorporated in the State of Delaware and was renamed Sotheby's shortly after. In 2019 Sotheby's was acquired by Patrick Drahi for $ 3.7 billion, becoming again a private company and no longer trading on

13770-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

13923-575: The course of the Russo-Polish War (1654–1667) . These new outskirts became known as the Meshchanskaya sloboda , after Ruthenian meshchane "town people". The term meshchane acquired pejorative connotations in 18th-century Russia and today means "petty bourgeois" or "narrow-minded philistine". The entire city of the late 17th century are contained within what is today Moscow's Central Administrative Okrug . Numerous disasters befell

14076-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

14229-743: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Moscow Moscow is the capital and largest city of Russia . The city stands on the Moskva River in Central Russia , with a population estimated at over 13 million residents within the city limits, over 19.1 million residents in the urban area, and over 21.5 million residents in its metropolitan area . The city covers an area of 2,511 square kilometers (970 sq mi), while

14382-957: The destruction during the French occupation, a Commission for the Construction of the City of Moscow was established. It launched a great program of rebuilding, including a partial replanning of the centre. Among many buildings constructed, or reconstructed, was the Grand Kremlin Palace and the Kremlin Armoury , the Moscow University , the Moscow Manege (Riding School), and the Bolshoi Theatre . The Arbat Street had been in existence since at least

14535-463: The end of March, and warm summers. More extreme continental climates at the same latitude – such as parts of Eastern Canada or Siberia – have much colder winters than Moscow, suggesting that there is still significant moderation from the Atlantic Ocean despite the fact that Moscow is far from the sea. Weather can fluctuate widely, with temperatures ranging from −25 °C (−13 °F) in

14688-636: The end of the 1920s. A new anti-religious campaign, launched in 1929, coincided with the collectivization of peasants; the destruction of churches in the cities peaked around 1932. In 1937 letters were written to the Central Committee of the Communist Party of the Soviet Union to rename Moscow to "Stalindar" or "Stalinodar". Stalin rejected this suggestion. During World War II, the Soviet State Committee of Defence and

14841-547: The exception of Wine auctions. LiveBid is Sotheby's online bidding system exclusively for wine auctions. In the meantime, income from classic auctioneering has fallen, as Sotheby's reported a decrease of 42% in net income in the first half of 2012. In February 2015 Sotheby's acquired a 25% stake in classic and vintage automobile auctioneer RM Auctions . In March 2015, Tad Smith , former president and chief executive of New York's Madison Square Garden , succeeded William F. Ruprecht as CEO of Sotheby's. Smith had no experience in

14994-494: The expanding city in the later 19th century and was developed into a public municipal park in 1878. The suburban Savyolovsky Rail Terminal was built in 1902. In January 1905, the institution of the City Governor, or Mayor , was officially introduced, and Alexander Adrianov became Moscow's first official mayor. When Catherine II came to power in 1762, the city's filth and the smell of sewage were depicted by observers as

15147-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

15300-462: The firm's auctioneers have also been used in various films, including the 1983 James Bond film Octopussy . With private transactions constituting an essential and increasingly profitable business segment, through the years Sotheby's has bought art galleries and helped dealers finance purchases. It has also gone into partnership with dealers on private sales. In 1990, Sotheby's teamed up with dealer William Acquavella , to form Acquavella Modern Art,

15453-452: The first international auction house in China; under the agreement, it invested $ 1.2 million to take an 80 percent stake in the venture with state-owned Beijing Gehua Cultural Development Group . As of 2012, the firm had an annual revenue of approximately US$ 831.8 million and offices on Manhattan 's York Avenue and London's New Bond Street . Sotheby's shares a rivalry with Christie's for

15606-520: The fringe. Summer dachas are being converted into year-round residences, and with the proliferation of automobiles there is heavy traffic congestion. Multiple old churches and other examples of architectural heritage that had been demolished during the Stalin era have been restored, such as the Cathedral of Christ the Saviour . In 2010s Moscow's Administration has launched some long duration projects like

15759-546: The government, and from 20 October the city was declared to be in a siege. Its remaining inhabitants built and manned antitank defenses, while the city was bombarded from the air. On 1 May 1944, a medal "For the defence of Moscow" and in 1947 another medal "In memory of the 800th anniversary of Moscow" was instituted. German and Soviet casualties during the battle have been debated, as sources provide different estimates. Total casualties between 30 September 1941, and 7 January 1942, are estimated to be between 248,000 and 400,000 for

15912-785: The greenest cities in the world. The city's name is thought to be derived from the Moskva River . Theories of the origin of the name of the river have been proposed. The most linguistically well-grounded and widely accepted is from the Proto-Balto-Slavic root * mŭzg -/ muzg - from the Proto-Indo-European * meu - "wet", so the name Moskva might signify a river at a wetland or marsh. Its cognates include Russian : музга , muzga "pool, puddle", Lithuanian : mazgoti and Latvian : mazgāt "to wash", Sanskrit : májjati "to drown", Latin : mergō "to dip, immerse". In many Slavic countries Moskov

16065-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

16218-520: The international art market and held sales in Qatar in 2009. As many industries took a blow from the economic crisis of 2008, the art market also saw a contraction. In international figures, art prices fell by 7.5% in Q1 of 2008 in comparison to the previous quarter. In September and October 2008, major auction houses saw a sharp decline in sales: artprice.com , the world leader in art market information, coined

16371-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

16524-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

16677-427: The latter forms came the modern Russian name Москва , Moskva , which is a result of morphological generalization with the numerous Slavic ā -stem nouns . The form Moskovĭ has left traces in other languages, including English: Moscow ; German : Moskau ; French : Moscou ; Portuguese : Moscou, Moscovo ; and Spanish : Moscú . Moscow has acquired epithets , such as The Third Rome . Moscow

16830-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

16983-417: The leading Moscow weather station is situated, is 156 metres (512 feet). Teplostan Upland is the city's highest point at 255 metres (837 feet). The width of Moscow city (not limiting MKAD ) from west to east is 39.7 km (24.7 mi), and the length from north to south is 51.8 km (32.2 mi). Moscow serves as the reference point for the time zone used in most of European Russia , Belarus and

17136-593: The lot at the bidder's declared price. The auctioneer "knocks down" the lot, declaring it sold to the winning bidder. The winning bid for a lot is also called the hammer price . Sotheby's organises the delivery of the lot in private with the buyer. Buyers can find out what is for sale at Sotheby's by browsing e-catalogues, visiting pre-sale exhibitions, purchasing print catalogues and registering for e-mail alerts. Buyers can register to bid in person at Sotheby's offices, or online. Sotheby's requires that prospective buyers provide government-issued proof of identity and sometimes

17289-463: The majority of Moscow's indigenous population. The first known reference to Moscow was in 1147, as a meeting place of Yuri Dolgorukiy and Sviatoslav Olgovich . At the time it was a minor town on the western border of Vladimir-Suzdal Principality. In 1156, Dolgorukiy fortified the town by creating a wooden wall; this structure became the Kremlin. In the course of the Mongol invasion of Kievan Rus' ,

17442-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

17595-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

17748-523: The medieval Muscovy state). He began fighting the Tatars, enlarged the territory of Muscovy, and enriched his capital city. By 1500 it had a population of 100,000 and was one of the largest cities in the world. He conquered the far larger principality of Novgorod to the north, which had been allied to the hostile Lithuanians. Thus he enlarged the territory sevenfold, from 430,000 to 2,800,000 square kilometres (170,000 to 1,080,000 square miles). He took control of

17901-508: The moat. Books were sold on this bridge and stone platforms were built nearby for guns – "raskats". The Tsar Cannon was located on the platform of the Lobnoye mesto . The road connecting Moscow with St. Petersburg, now the M10 highway , was completed in 1746, its Moscow end following the old Tver road, which had existed since the 16th century. It became known as Peterburskoye Schosse after it

18054-594: The most powerful cities in Russia. In 1380, prince Dmitry Donskoy of Moscow led a united Russian army to an important victory over the Mongols in the Battle of Kulikovo . Afterward, Moscow took the leading role in liberating Russia from Mongol domination. In 1480, Ivan III had finally broken the Russians free from Tatar control, and Moscow became the capital of an empire that would eventually encompass all of Russia and Siberia , and parts of many other lands. In 1462 Ivan III became Grand Prince of Moscow (then part of

18207-472: The name is reconstructed as * Москы , * Mosky , hence it was one of a few Slavic ū -stem nouns . As with other nouns of that declension, it had been undergoing a morphological transformation at the early stage of the development of the language, as a result, the first written references in the 12th century were Московь , Moskovĭ ( accusative case ), Москви , Moskvi ( locative case ), Москвe/Москвѣ , Moskve/Moskvě ( genitive case ). From

18360-424: The population doubled from 100,000 to 200,000, and it expanded beyond its ramparts in the latter part of the century. In the middle of the 17th century, 20% of Moscow suburb's inhabitants were from the Grand Duchy of Lithuania , being driven from their homeland by Muscovite invaders. By 1682, there were 692 households established north of the ramparts, by Ukrainians and Belarusians abducted from their hometowns in

18513-539: The population grew tenfold over the remaining duration of the Russian Empire, reaching 1.8 million by 1915. The 1770–1772 Russian plague killed up to 100,000 people in Moscow. By 1700, the building of cobbled roads had begun. In 1730, permanent street lights were introduced, and by 1867 many streets had a gaslight. In 1883, near the Prechistinskiye Gates, arc lamps were installed. In 1741 Moscow

18666-468: The position of the world's pre-eminent fine art auctioneer, a title of much subjectivity . In August 2004, Sotheby's introduced an online system – MySotheby's – allowing clients to track lots and create "wishlists" that could be automatically updated as new works became available. Sotheby's also created the BIDnow service, which allows bidders to bid real-time online while watching the broadcast auctions, with

18819-495: The power struggles of the principality with lasting success, siding with his brother Dmitry in his bid for the rule of Novgorod . From 1283 he acted as the ruler of an independent principality alongside Dmitry, who became Grand Duke of Vladimir . Daniel has been credited with founding the first Moscow monasteries, dedicated to the Lord's Epiphany and to Saint Daniel. Daniel ruled Moscow as Grand Duke until 1303 and established it as

18972-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

19125-556: The project will include the addition of several new galleries. The company also launched a new online bidding platform on its website. In June 2019, Sotheby's was acquired by French-Israeli businessman Patrick Drahi at a 61% market premium. In October 2019, he brought in Charles F. Stewart as Sotheby's new CEO, and former CEO Tad Smith transitioned to an advisory role. Drahi instituted a number of cost-cutting measures, including senior executive layoffs in 2019; job cuts, salary cuts, and

19278-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

19431-590: The sediments from which the specimen was taken to be Kimmeridgian , but, according to more recent studies, they were formed in the Tithonian age of the Jurassic period. Albian foraminifera and ammonites also known from the Moscow deposits. Fossils of various organisms are on display in Moscow museums, including the Orlov Museum of Paleontology and Vernadsky State Geological Museum . According to

19584-492: The seller and Sotheby's sign a contract, which sets out the reserve price and the seller's commission . If bidding on a seller's lot does not reach the reserve price, the item is not sold. As of April 2021, Sotheby's listed the following services: Sotheby's links sellers with prospective buyers in private if sellers do not want a public auction . The identities of buyers and consignors are not disclosed. Sotheby's Private Sales works with clients with confidentiality and tailors

19737-462: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

19890-593: The sole collector of taxes for the Mongol rulers, making Moscow the capital of Vladimir-Suzdal . By paying high tribute, Ivan won an important concession from the Khan . While the Khan of the Golden Horde initially attempted to limit Moscow's influence, when the growth of the Grand Duchy of Lithuania began to threaten all of Russia, the Khan strengthened Moscow to counterbalance Lithuania, allowing it to become one of

20043-439: The suburbs it is about −8.3 °C (17.1 °F). The temperature difference between the centre of Moscow and nearby areas of Moscow Oblast can sometimes be more than 10 °C (18 °F) on frosty winter nights. Recent changes in Moscow's regional climate, since it is in the mid-latitudes of the northern hemisphere, are often cited by climate scientists as evidence of global warming , though by definition, climate change

20196-408: The term "Black October". Sotheby's bought-in rate was 27%, Christie's was 45% and Phillips de Pury's was 46%. However, the total values of global and United States Fine Art auction sales were US$ 8.3 billion and US$ 2.9 billion, respectively. In 2009, art collector Steven A. Cohen built a 6 percent stake in the auction house for his hedge fund SAC Capital Advisors . In 2011, Noortman's Amsterdam space

20349-459: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

20502-436: The urban area covers 5,891 square kilometers (2,275 sq mi), and the metropolitan area covers over 26,000 square kilometers (10,000 sq mi). Moscow is among the world's largest cities , being the most populous city in its entirety in Europe, the largest urban and metropolitan area in Europe, and the largest city by land area on the European continent. First documented in 1147, Moscow grew to serve as

20655-615: The wake of Russia's failures in the Crimean War in 1855–56, confidence in the ability of the state to maintain order in the slums eroded, and demands for improved public health put it back on the agenda. In 1903 the Moskvoretskaya water supply was completed. In November 1917, upon learning of the uprising in Petrograd , Moscow's Bolsheviks began their uprising . On 2 November (15), 1917, after heavy fighting, Soviet power

20808-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

20961-401: The world's largest urban economies . The city is one of the fastest-growing tourist destinations and is one of Europe's most visited cities . Moscow has the sixth-highest number of billionaires of any city. The Moscow International Business Center is one of the largest financial centers in the world and features the majority of Europe's tallest skyscrapers . Moscow was the host city of

21114-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

21267-462: Was 38.2 °C (100.8 °F) at the VVC weather station and 39.0 °C (102.2 °F) in the center of Moscow and Domodedovo airport on 29 July 2010, during the unusual 2010 Northern Hemisphere summer heat waves . Record high and average temperatures were recorded for January, March, April, May, June, July, August, November, and December in 2007–2022. The average July temperature from 1991 to 2020

21420-522: Was built in 1505–08 and augmented to its present height in 1600. A trading settlement, or posad , grew up to the east of the Kremlin, in the area known as Zaradye . In the time of Ivan III, the Red Square , originally named the Hollow Field appeared. In 1508–1516, the Italian architect Aleviz Fryazin (Novy) arranged for the construction of a moat in front of the eastern wall, which would connect

21573-507: Was built in 1958 at 37 kilometres (23 miles) from the city centre to the north-west, along with the Leningradskoye Shosse , and incorporated as one of Moscow's administrative okrugs . Moscow State University moved to its campus on Sparrow Hills in 1953. In 1959 Nikita Khrushchev launched his anti-religious campaign . Of Moscow's fifty churches operating in 1959, thirty were closed and six demolished. On 8 May 1965, due to

21726-473: Was buried in the cemetery of the St. Daniel Monastery. Moscow was stable and prosperous for many years and attracted refugees from across Russia. The Rurikids maintained large landholdings by practicing primogeniture , whereby all land was passed to the eldest sons. By 1304, Yury of Moscow contested with Mikhail of Tver for the throne of the principality of Vladimir . Ivan I eventually defeated Tver to become

21879-402: Was closed and the gallery moved to London. Two years later, Sotheby's closed Noortmans, after having written down $ 8.3 million of inventory and started selling off lower-valued works of art through other auction houses. As of 2021, Sotheby's is present in over 40 countries, with 80 locations. In 2012, the company signed a 10-year joint-venture agreement to form Sotheby's (Beijing) Auction Co. Ltd.,

22032-516: Was erected around the city, including an area on the right bank of the Moscow River. As an outermost line of defense, a chain of strongly fortified monasteries was established beyond the ramparts to the south and east, principally the Novodevichy Convent and Donskoy , Danilov , Simonov , Novospasskiy , and Andronikov monasteries, most of which now house museums. From its ramparts, the city became poetically known as Bielokamennaya ,

22185-421: Was established in Moscow. Vladimir Lenin , fearing invasion, moved the capital back to Moscow on 12 March 1918. The Kremlin once again became the seat of power, political centre of the new state. With the change in values imposed by communist ideology , the tradition of preserving cultural heritage was broken. Independent preservation societies, even those that defended only secular landmarks, were disbanded by

22338-519: Was established on 11 March 1744 in London by Samuel Baker, a bookseller. In 1767 the firm became Baker & Leigh, after Samuel Baker auctioned several hundred valuable books from the library of The Rt Hon Sir John Stanley, 1st Baronet , of Grangegorman and became business partners with George Leigh. The library Napoleon took with him into exile at St Helena , as well as the library collections of John Wilkes , Benjamin Heywood Bright and

22491-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

22644-552: Was initially incorporated in August 1983 in Michigan as Sotheby's Holdings, Inc . In June 2006, it was reincorporated in the State of Delaware and was renamed Sotheby's. In June 2019, Sotheby's was acquired by French-Israeli businessman Patrick Drahi at a 61% market premium. Sotheby's Institute of Art (an educational facility), Sotheby's International Realty ( real estate dealers), and RM Sotheby's ( classic car dealers) are subsidiaries or partner organisations. Sotheby's

22797-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

22950-580: Was officially named Новая Москва (New Moscow). Moscow is situated on the banks of the Moskva River , which flows for just over 500 km (311 mi) through the East European Plain in central Russia, not far from the natural border of the forest and forest- steppe zone. 49 bridges span the river and its canals within the city's limits. The elevation of Moscow at the All-Russia Exhibition Center (VVC), where

23103-501: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

23256-613: Was paved in the 1780s. Petrovsky Palace was built in 1776–1780 by Matvey Kazakov . Between 1781 and 1804 the Mytischinskiy water pipe (the first in Russia) was built. When Napoleon invaded Russia in 1812, the Moscovites were evacuated. The Moscow fire was principally the effect of Russian sabotage. Napoleon's Grande Armée was forced to retreat and nearly annihilated by the devastating Russian winter. In 1813, following

23409-634: Was surrounded by a barricade 40 kilometres (25 mi) long, the Kamer-Kollezhskiy barrier, with 16 gates at which customs tolls were collected. Its line is traced today by several streets called val ("ramparts"). In the early 19th century, the Arch of Konstantino-Elenensky gate was paved with bricks, but the Spassky Gate was the main front gate of the Kremlin and used for royal entrances. From this gate, wooden and stone bridges stretched across

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