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85-497: RELX plc (pronounced "Rel-ex") is a British multinational information and analytics company headquartered in London , England. Its businesses provide scientific , technical and medical information and analytics; legal information and analytics; decision-making tools; and organise exhibitions. It operates in 40 countries and serves customers in over 180 nations. It was previously known as Reed Elsevier , and came into being in 1993 as

170-422: A security breach occurred through a recently purchased subsidiary, Seisint, which allowed identity thieves to steal the records of at least 316,000 people. The database contained names, current and prior addresses, dates of birth, drivers license numbers and Social Security numbers , among other data obtained from credit reporting agencies and other sources. In 2008 the company settled an action taken against it by

255-766: 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

340-508: 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

425-429: 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

510-490: 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

595-483: A publishing company called NV Uitgeversmaatschappij Elsevier (Elsevier Publishing Company NV) to publish literary classics and the encyclopedia Winkler Prins . Robbers named the company after the old Dutch printers family Elzevir , which, for example, published the works of Erasmus in 1587. Elsevier NV originally was based in Rotterdam but moved to Amsterdam in the late 1880s. Up to the 1930s, Elsevier remained

680-626: A result of the merger of Reed International, a British trade book and magazine publisher, and Elsevier, a Netherlands-based scientific publisher. The company is publicly listed, with shares traded on the London Stock Exchange , Amsterdam Stock Exchange and New York Stock Exchange (ticker symbols: London: REL, Amsterdam: REN, New York: RELX). The company is one of the constituents of the FTSE 100 Index , AEX Index , Financial Times Global 500 and Euronext 100 Index. The company, which

765-559: A small family-owned publisher, with no more than ten employees. After the war it launched the weekly Elsevier magazine, which turned out to be very profitable. A rapid expansion followed. Elsevier Press Inc. started in 1951 in Houston , Texas, USA, and in 1962 publishing offices were opened in London and New York. Multiple mergers in the 1970s led to name changes, settling at "Elsevier Scientific Publishers" in 1979. In 1991, two years before

850-426: Is a desktop and web program for managing and sharing research papers, discovering research data and collaborating online. Elsevier is the world's largest publisher of academic articles. It published 600,000 articles in 2021. Its best-known titles are The Lancet and Cell . In 1995, Forbes magazine (wrongly) predicted Elsevier would be "the first victim of the internet" as it was disrupted and disintermediated by

935-531: Is called RX, formerly Reed Exhibitions until 2021. It is the world's largest exhibitions company, running 500 shows for 140,000 exhibitors and 7m visitors. ReedPop, part of RX, organises popular culture events including New York Comic Con and PAX . In February 2018, ReedPop acquired Gamer Network , a British Mass Media company that owns a number of video game journalism sites including Eurogamer , Rock Paper Shotgun and VG247 . Ecommerce store The Haul focused on pop culture memorabilia and merchandise

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1020-410: 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

1105-865: 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

1190-810: The British Medical Journal , published an editorial in the Journal of the Royal Society of Medicine arguing that Reed Elsevier's involvement in both the arms trade and medical publishing constituted a conflict of interest. Subsequently, in June the company announced that they would be exiting the defence exhibition business during the second half of the year. In November 2019, legal scholars and human rights activists called on RELX to cease work with U.S. Immigration and Customs Enforcement because their product LexisNexis directly contributes to

1275-980: 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 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

1360-923: The Dartmouth Medal from the American Library Association in 1986 as the best reference work of the year. Pergamon also has offices in Elmsford, New York , in the United States. Pergamon is the publisher of several works of the Club of Rome , such as Beyond the Age of Waste , Energy, the Countdown , No Limits to Learning , Towards more Effective Societies , Dialogue of Wealth and Welfare and Microelectronics and Society . In 2017 Stephen Buranyi described Maxwell's approach in

1445-497: The Federal Trade Commission for multiple failures of security practice in how the data was stored and protected. The settlement required Reed Elsevier and Seisint to establish and maintain a comprehensive security program to protect nonpublic personal information. Between 2005 and 2007, members of the medical and scientific communities, which purchase and use many journals published by Reed Elsevier, agitated for

1530-505: The Guardian : Maxwell insisted on grand titles – "International Journal of" was a favourite prefix. Peter Ashby, a former vice president at Pergamon, described this to me as a "PR trick", but it also reflected a deep understanding of how science, and society's attitude to science, had changed. Collaborating and getting your work seen on the international stage was becoming a new form of prestige for researchers, and in many cases Maxwell had

1615-629: The Research Works Act , although it no longer supports the last. Because of this, members of the scientific community have boycotted Elsevier journals. In January 2012, the boycott gained an online pledge and petition ( The Cost of Knowledge ) initiated by mathematician and Fields medalist Sir Timothy Gowers . The movement has received support from noted science bloggers, such as biologist Jonathan Eisen . Between 2012 and February 2023, about 20,500 scientists signed The Cost of Knowledge boycott. On 28 February 2019, following long negotiations,

1700-521: The University of California announced it would be terminating all subscriptions with Elsevier. On 16 March 2021, following further negotiations and significant changes including (i) universal open access to University of California research and (ii) containing the "excessively high costs" being charged by publishers, the university renewed its subscription. As a data broker Reed Elsevier collected, used, and sold data on millions of consumers. In 2005,

1785-755: The Wabigoon River in Ontario Canada by a corporate subsidiary between 1962 and 1970 was "one of the worst cases of environmental poisoning in Canadian history." Reed sold the Dryden Mill to Great Lakes Forest Products in 1980. As of 2017, Grassy Narrows First Nation chief Simon Fobister stated that the river remained highly contaminated. Reed Elsevier has been criticised for the high prices of its journals and services, especially those published by Elsevier. It has also supported SOPA , PIPA and

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1870-444: The deportation of illegal immigrants . 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 the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

1955-446: The " Springer know-how and techniques of aggressive publishing in science" to Britain . Paul Rosbaud was the man with the knowledge. When Maxwell acquired the company in 1951, Rosbaud held a one-quarter share. They changed the house name to Pergamon Press, using a logo that was a reproduction of a Greek coin from Pergamon . Maxwell and Rosbaud worked together growing the company until May 1956, when, according to Joe Haines, Rosbaud

2040-617: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from 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

2125-551: 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

2210-575: 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

2295-609: The Mark Allen Group. RELX's Scientific, Technical & Medical business provides information, analytics and tools that help investors make decisions that improve scientific and healthcare outcomes. It operates under the name of Elsevier: ScienceDirect , an online database of primary research, contains 18 million documents. Scopus is a bibliographic database containing abstracts and citations for academic journal articles. It contains more than 50 million items in more 20,000 titles from 5,000 publishers worldwide. Mendeley

2380-511: 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

2465-563: The Netherlands. In 2017, the company sold New Scientist magazine. In January 2019, RBI sold its Dutch agricultural media and selected international agricultural media portfolio (including Poultry World ) to Doorakkeren BV. In August 2019, Flight International and FlightGlobal were sold to DVV Media Group . In December 2019, RBI announced plans to sell the Farmers Weekly magazine title, website and related platforms, events and awards to MA Agriculture Limited, part of

2550-558: 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,

2635-739: The Takeover Code of the time reported in mid-1971: "We regret having to conclude that, notwithstanding Mr Maxwell's acknowledged abilities and energy, he is not in our opinion a person who can be relied on to exercise proper stewardship of a publicly quoted company." It was found that Maxwell had contrived to maximise Pergamon's share price through transactions between his private family companies. Maxwell reacquired Pergamon in 1974 after borrowing funds. Pergamon continued with International Encyclopedias in biotechnology, chemistry, education, engineering, entomology, linguistics, materials science, and pharmacology and toxicology. The education volume won

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2720-464: 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

2805-636: 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

2890-541: 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

2975-506: 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

3060-614: 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

3145-461: 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

3230-661: The United States in 1977 by acquiring Cahners Publications, founded by Norman Cahners . In 1985, the company decided to rationalise its operations, focusing on publishing and selling off its other interests. Sanderson was sold to WestPoint Pepperell, Inc. of Georgia , United States , that year, while Crown Paint and Polycell were sold to Williams Holdings in 1987. The company's paper and packaging production operations were bundled together to form Reedpack and sold to private equity firm Cinven in 1988. Reed expanded its publishing by acquiring Technical Publishing from Dun & Bradstreet . In 1880, Jacobus George Robbers started

3315-629: 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

3400-766: 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 , 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

3485-507: 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

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3570-587: The World Wide Web. LexisNexis Risk Solutions provide decision-making tools which help banks spot money launderers and insurance companies weed out fraudulent claims. The business claims to have saved the state of Florida more than $ 60 million a year by preventing benefit fraud. Accuity provides financial crime compliance software which allows institutions to comply with sanctions and anti-money laundering compliance programmes. It offers Know Your Customer, KYC , online subscription-based data and software for

3655-575: The aviation, finance and travel industries. RELX's legal business operates under the LexisNexis brand. Many of LexisNexis' brands date back to the nineteenth century or earlier. These include Butterworths and Tolley in the UK and JurisClasseur in France. In 2019, 85% of its revenues were electronic. The LexisNexis legal and news database contains 119bn documents and records. RELX's exhibitions business

3740-469: 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 ,

3825-537: The children's divisions of Heinemann, Methuen, Hamlyn and Mammoth to the Egmont Group . In February 2007, the company announced its intention to sell Harcourt, its educational publishing division. On 4 May 2007 Pearson , the international education and information company, announced that it had agreed to acquire Harcourt Assessment and Harcourt Education International from Reed Elsevier for $ 950m in cash. In July 2007, Reed Elsevier announced its agreement to sell

3910-742: 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

3995-654: 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

4080-419: The company to cut its links to the arms trade. Two UK academics, Tom Stafford of Sheffield University and Nick Gill, launched petitions calling for it to stop organising arms fairs. A subsidiary, Spearhead, organised defence shows, including an event where it was reported that cluster bombs and extremely powerful riot control equipment were offered for sale. In February 2007 Richard Smith , former editor of

4165-549: The company was a recipient of one of the Queen's Awards for Enterprise in 1966. That year saw construction of a new office block and warehouse at Headington Hill. Pergamon ventured to produce an Encyclopaedic Dictionary of Physics , in nine volumes and four supplements in the decade from 1961. In 1969, Maxwell lost control of Pergamon and was ejected from the board. An inquiry by the Department of Trade and Industry (DTI) under

4250-694: The company's work in advancing the Rule of Law - recognizing the company's commitment to strengthening equality under law, transparency of law, independent judiciaries and accessible legal remedy. The Elsevier Foundation supports libraries in developing countries, women scientists and nursing facilities. In 2016 it committed $ 1m a year, for 3 years, to programmes encouraging diversity in science, technology and medicine and promoting science research in developing countries. Programmes operated by LexisNexis Legal & Professional include: Programmes operated by LexisNexis Risk Solutions include: The mercury contamination of

4335-510: 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

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4420-643: 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

4505-539: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Pergamon Press Pergamon Press was an Oxford -based publishing house, founded by Paul Rosbaud and Robert Maxwell , that published scientific and medical books and journals. Originally called Butterworth-Springer , it is now an imprint of Elsevier . The core company, Butterworth-Springer, started in 1948 to bring

4590-416: The financial services industry. The company's services include helping banks and financial institutions screen for high risk customers and transactions, and providing databases such as Bankers Almanac which allows clients to find and validate bank payment routing data. Accuity serves financial services clients worldwide. Cirium (previously known as FlightGlobal) provides data and aviation analytics products to

4675-481: 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

4760-479: The first half of 2021. From 2011 to 2014, the average annual value of disposals was about $ 300m. The predictability of the company's results in recent years has led to a re-rating of the shares. The RELX Environmental Challenge awards grants to projects advancing access to safe water and sanitation. In 2019, Mike Walsh, CEO of LexisNexis, was honoured by the UN Foundation with a Global Leadership award for

4845-416: 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

4930-576: The international oil market. Iran was unable to sell any of its oil. In August 1953, 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

5015-415: 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

5100-460: 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)

5185-474: 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 ,

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5270-527: The market cornered before anyone else realised it existed. The consequences of Pergamon Press business strategies during this period has been described by Mark W. Neff in the academic journal Issues in Science and Technology : Between 1959 and 1965, Pergamon grew from 40 titles to 150. Whereas scientific norms at the time viewed scientific publishing as a public good that should not be subject to profit motives, Maxwell understood that scientific publishing

5355-494: 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

5440-543: 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

5525-481: The merger with Reed, Elsevier acquired Pergamon Press in the UK. Cahners Publishing, founded by Norman Cahners , was the largest U.S. publisher of trade or business magazines as of his death in 1986. Reed International acquired the company in 1977. In February 1997, Reed Elsevier divested its trade publishing group (including Heinemann , Methuen , Secker & Warburg , Sinclair-Stevenson , Mandarin, Minerva and Cedar) to Random House . In 1998, Reed Elsevier sold

5610-419: The new ones during their formative years". In 1962, Pergamon Press started the series called The Commonwealth and International Library of Sciences, Technology, Engineering, and Liberal Studies . By 1970, this series had 1000 titles. Brian Cox says that in all, Pergamon published 7,000 monographs for various authors. In 1964, Pergamon Press became a public company . With its growth and export performance,

5695-408: The phenomenal rise of Pergamon Press in the Science, Technology, and Medicine (STM) sector of publishing. The 59 Pergamon academic journals in 1960 became 418 journals in 1992. Cox recalls that in the process some 700 were launched, many transmogrifying rather than ceasing. Cox says "The secret of Pergamon's success was to publish a large number of journals, so that the established titles could support

5780-560: 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

5865-611: 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

5950-402: The remaining Harcourt Education business, including international imprint Heinemann , to Houghton Mifflin for $ 4 billion in cash and stock. Between 2006 and 2019, in 65 separate deals, the company systematically sold its 300 print, business to business magazine titles, reducing the proportion of print revenues from 51% to 9%. Advertising, which had been the largest source of revenues when RELX

6035-501: The strong influence of 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

6120-690: The then-dangerous print trade. In 1965, Reed Group, as it was then known, became a conglomerate , creating its Decorative Products Division with the purchase of Crown Paints , Polycell and Sanderson 's wallpaper and DIY decorating interests. In 1970, Reed Group merged with the International Publishing Corporation and the company name was changed to Reed International Limited. The company continued to grow by merging with other publishers and produced high quality trade journals as IPC Business Press Ltd and women's and other consumer magazines as IPC magazines Ltd. Reed entered

6205-505: The weak economy including an advertising slump. Variety , the company's last remaining North American title, was sold in October 2012. In 2014, Reed Business Information sold BuyerZone, an online marketplace; emedia, an American provider of research for IT buyers and vendors; and a majority stake in Reed Construction Data , a provider of construction data. In 2016, RELX sold Elsevier Weekly and BeleggersBelangen in

6290-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) 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

6375-573: 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

6460-503: 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

6545-595: Was a market unlike others because there was an almost ceaseless growth of demand, and free labour. Scientists would pressure their institutional libraries to secure access to any serious journal publishing work relevant to their own. Maxwell sold Pergamon Press to academic publishing giant Elsevier in March 1991 for £440 million; the funds were used to repay the large debt taken on by Maxwell in taking control of New York Daily News . Maxwell retained Pergamon's US books (which became part of sister company Macmillan Inc. ),

6630-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for 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

6715-632: Was founded, represented just 1% of sales in 2018. In July 2009, Reed Elsevier announced its intention to sell most of its North American trade publications, including Publishers Weekly , Broadcasting & Cable , and Multichannel News , although it planned to retain Variety . In April 2010, Reed Elsevier announced that it had sold 21 US magazines to other owners in recent months, and that an additional 23 US trade magazines, including Restaurants & Institutions , Hotels , and Trade Show Week would cease publication. The closures were mostly due to

6800-448: 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

6885-546: 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

6970-636: Was launched in 2021. Popverse , a popular culture website, was founded in 2022. It sold the Gamer Network to IGN Entertainment , division of Ziff Davis , in May 2024. However, it retained the Popverse outlet. As of 2021, the board of directors consisted of: In 2019, Harvard Business Review ranked Erik Engström the world's 11th best performing CEO. In August 2020, RELX announced Sir Anthony Habgood would retire as Chair, to be replaced by Paul Walker in

7055-539: Was previously known as Reed Elsevier, came into being in 1993, as a result of the merger of Reed International, a British trade book and magazine publisher, and Elsevier , a Netherlands-based scientific publisher. The company re-branded itself as RELX in February 2015. In 1895, Albert E. Reed established a newsprint manufacturing operation at Tovil Mill near Maidstone , Kent . The Reed family were Methodists and encouraged good working conditions for their staff in

7140-519: Was sacked. When Pergamon Press started it had only six serials and two books. Initially the company headquarters was in Fitzroy Square in West End of London . In 1959, the company moved into Headington Hill Hall , a country home rented from the city of Oxford. In 1960, Brian Cox joined Pergamon Press as subscription manager. After the founders' deaths, Cox has become the primary witness to

7225-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, 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

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