What to watch when the European Central Bank reveals its latest monetary policy decision

whatsapp The monetary policy decision comes at 12:45 GMT, but markets will be watching just as closely during the press conference 45 minutes later, when ECB president Draghi will face scrutiny from the world’s media at a press conference.While expectations are firmly against any change in monetary policy, as ever the tone of proceedings will be just as important. Here’s what to look out for.Dissent from DeutschlandThe latest ECB minutes pointedly showed that “ a few members” of the Governing Council, which is drawn from the Eurozone member states, dissented from the continuation of QE.All fingers immediately pointed at Germany, whose Bundesbank president, Jens Weidmann, has been outspoken in his opposition to QE. He thinks it should be reserved as an emergency measure, and that it punishes savers.Draghi is bound to face questions on this, so listen for any signs of argument over asset purchases.The many faces of inflation After Janet Yellen gave a surprisingly hawkish speech to San Francisco’s Commonwealth Club last night, today’s turn in the monetary policy spotlight belongs to Mario Draghi.The Governing Council of the European Central Bank (ECB) meets today at its Frankfurt headquarters to discuss its three interest rates (currently near zero) and its controversial asset purchase programme, better known as quantitative easing (QE). whatsapp What to watch when the European Central Bank reveals its latest monetary policy decision One of the reasons German economists in particular dislike QE is the fact their economy is heating up far more than the rest of the Eurozone. Europe’s largest economy saw inflation more than double in December to 1.7 per cent, driving the headline inflation figure up across the Eurozone.However, the ECB is likely to signal it will not act too early as deflation is still a threat in parts of the bloc, such as Ireland, while price growth in other vulnerable countries such as Greece and Cyprus is still meagre.Add to that the fact that core inflation, which strips out volatile components such as oil prices, remains below one per cent and there’s little incentive for the ECB to tighten now.Bond buying botherationThe last set of minutes also showed “concerns relating to the scarcity of German sovereign bonds” were a factor in reducing bond purchases, which are aimed at pushing money off bank balance sheets into the broader economy. Thursday 19 January 2017 9:40 am Jasper Jolly Share At the last meeting purchases were reduced from €80bn to €60bn, although the duration of the purchases was extended. Draghi was clear in his efforts to fight talk of a “tapering” in the programme.However, if there are signs of liquidity problems in QE bond buying and no further moves to broaden the universe of eligible bonds that could force the ECB to tighten earlier than planned.Trumpflation and BrexitAs ever, a conversation about Europe’s finances will morph into a conversation about global politics. The day before the inauguration of Donald Trump as US President, Draghi is bound to face questions about whether the new administration’s reflationary policy could cause problems for the Eurozone.Close to home, another ugly portmanteau will be occupying EU policymakers (and journalists, and everyone else) for the next two years at the very least: Brexit. Draghi is certain to be asked about the potential impact on Eurozone growth, with all of its implications on monetary policy.Those shocks to the EU politicians have already happened, but there could also be more to come, with anti-euro challengers expected to put up a scrappy fight in France, the Netherlands, and even Germany. It won’t be a boring year for the ECB.[custom id=”190″] by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsPost FunCops Called To Investigate Smell From Abandoned House Didn’t Expect To Find ThisPost FunPensAndPatronTori Roloff Confirms Devastating News About The FamilyPensAndPatronMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity Week read more

Nearly three-fifths of firms think the UK tax regime is unfair to businesses like theirs

first_img Nearly three-fifths of firms think the UK tax regime is unfair to businesses like theirs Share James Booth More than two-thirds (67 per cent) of respondents don’t believe HMRC applies tax rules fairly across all sizes of business.Read more: HMRC has warned young adults to be wary of tax rebate scamsMicro-firms are most likely to have that view (70 per cent) compared to medium and large firms (59 per cent).Two-thirds (64 per cent) do not agree that HMRC applies tax rules fairly regardless of where the company is domiciled.There was also concern over the quality of service provided by HMRC. Tags: Tax by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyMisterStoryWoman files for divorce after seeing this photoMisterStory Tuesday 23 April 2019 12:01 am whatsapp Nearly three-fifths of businesses think they are unfairly penalised by the tax system, a new survey published today shows.The survey of over 1,000 businesses by the British Chamber of Commerce uncovered widespread concerned at the way HM Revenue & Customs (HMRC) applies tax rules to different types of firms. whatsapp “We’ve worked hard to help small businesses over the past five years which is reflected by almost three quarters of them rating us positively.” One in two (49 per cent) firms said the HMRC does not provide the support they need to be compliant.Suren Thiru, head of economics at the British Chambers of Commerce, said: “These results reflect a strong impression among businesses that the current UK tax regime isn’t a level playing field.Read more: Why higher corporation tax isn’t the vote winner it seems to be“HMRC must step up efforts to provide better support to smaller businesses to get their tax right, rather than simply pursuing and enforcing penalties. This should include matching investment in frontline HMRC help towards SMEs, with their work on non-compliance and tax evasion. More also needs to be done to address the escalating burden of upfront costs and taxes to provide firms with much-needed headroom to get on and invest, train their staff, and compete on the global stage.”An HMRC spokesperson said: “We want to help customers who need support to get their tax affairs right, while bearing down on the small minority who try to break the rules.last_img read more

UBS profit jumps 40 per cent despite coronavirus disruption

first_imgTuesday 28 April 2020 8:27 am “This quarter, UBS performed at its best in all dimensions, and demonstrated the true character of our organisation and our people in that we were able to support our clients with advice, credit and liquidity at the time they need it the most and provide support to the communities in which we operate, while creating value for shareholders.” (AFP via Getty Images) Also Read: UBS profit jumps 40 per cent despite coronavirus disruption whatsapp Operating income was $7.9bn compared to $7.2bn a year ago. Additionally the bank’s return on tangible equity hit 12.8 per cent, compared to 9.8 per cent in the same period last year. Angharad Carrick Net profit rose 40 per cent year on year to £1.6bn. UBS had said earlier this month it expected a net profit for the period around $1.5bn. More From Our Partners Bill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Get the news as it happens by following City A.M. on Twitter.  UBS reported a sharp rise in first-quarter net profit, helped by higher trading volumes as clients reacted to market volatility. UBS said it could not predict the timing and shape of any potential economic recovery, but it would be negatively impacted by the crisis. “Lower asset prices will reduce our recurring fee income, lower interest rates will present a headwind to net interest income, and client activity levels will likely decrease, affecting transaction-based income,” the bank said. Show Comments ▼center_img Credit loss expenses rose to $268m from $20m last year. Of this, $122m was in the investment bank business and $53m in its key wealth management business. UBS said the disruption caused by the pandemic will “lead to elevated levels of credit loss expenses for the industry.” (AFP via Getty Images) Also Read: UBS profit jumps 40 per cent despite coronavirus disruption Chief executive Sergio P. Ermotti said: “As a result of years of disciplined strategic execution, risk management and sustained technology investments, we enter these turbulent times from a position of strength. whatsapp (AFP via Getty Images) Share Market volatility helped UBS’s investment bank post a 242 per cent jump in pretax profit. Global markets revenue increased 44 per cent “due to significantly higher volumes and volatility”. Pretax profit rose 52 per cent at the asset management business and 41 per cent in the global wealth management division. UBS profit jumps 40 per cent despite coronavirus disruption Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.last_img read more

The Essential Movie Library #75: The Spirit of the Beehive (1973)

first_imgUncategorizedFilmThe Essential Movie Library #75: The Spirit of the Beehive (1973)Infused by a six year-old girl’s perspective, this film is distinguished by the secrets it keeps from us: affairs, eternity and faith quandaries, and the exhaustion of innocenceBy Steve Erickson – April 22, 2014999ShareEmailFacebookTwitterPinterestReddItFor a movie that both feels so delicate and gets so routinely called a masterpiece, The Spirit of the Beehive may catch up with you slowly. It’s as fragile as a small girl’s heart and as enduring as her imagination, yet it’s also among the least sentimental films about childhood, not because of anything that happens but because its tone is infused with a six-year-old’s perspective, and six-year-olds are not sentimentalists. They’re likelier to view mushrooms growing from the ground as not magic but deadly. The story takes place in one of those expanses of the Castilian countryside at once harsh and beautiful; only gradually does a political subtext creep in as we realize the unforgiving tyranny of Francisco Franco is just beginning (this movie was made near its end), almost always viewed as things are from the eye-level of childhood, when social upheaval and its renegades who hide in abandoned farmhouses easily mix with stories of Frankenstein’s lonely and forsaken monster. Like many remarkable works of art, Beehive finally is distinguished by the secrets it keeps from us: the affair, for instance, that the girl’s mother may be having with a Red Cross worker in Nice, about which we know nothing more than what a love letter thrown into the fire might have revealed; the obsession of the girl’s father with his beehives, in which he struggles to decipher eternity and faith; and whatever malevolence reveals itself with the exhaustion of innocence, as it flashes through the mind of the girl’s slightly older sister, who likes to play dead and rouge her lips with her own blood. Childhood blossoms in blood, as writer-director Victor Erice would put it later, “like an endless rose.”Read them all:The Essential Movie Library #74: Sexy BeastThe Essential Movie Library #73: Groundhog DayThe Essential Movie Library #72: Rear WindowThe Essential Movie Library #71: The 400 BlowsThe Essential Movie Library #70: Blue VelvetThe Essential Movie Library #69: Dr. StrangeloveThe Essential Movie Library #68: The Bicycle ThievesThe Essential Movie Library #67: Pulp FictionThe Essential Movie Library #66: Faster, Pussycat! Kill! Kill!The Essential Movie Library #65: CachéThe Essential Movie Library #64: A Hard Day’s NightThe Essential Movie Library #63: The SearchersThe Essential Movie Library #62: The ConformistThe Essential Movie Library #61: Bonnie & ClydeThe Essential Movie Library #60: Sweet Smell of SuccessThe Essential Movie Library #59: MelancholiaThe Essential Movie Library #58: La Dolce VitaThe Essential Movie Library #57: Pat Garrett and Billy the KidThe Essential Movie Library #56: ContemptThe Essential Movie Library #55: Sunset BoulevardThe Essential Movie Library #54: MetropolisThe Essential Movie Library #53: In A Lonely PlaceThe Essential Movie Library #52: Talk to HerThe Essential Movie LIbrary #51: To Be or Not To BeThe Essential Movie Library #50: The Battle of AlgiersThe Essential Movie Library #49: NotoriousThe Essential Movie Library #48: Wings of DesireThe Essential Movie Library #47: L’AvventuraThe Essential Movie Library #46: Malcolm XThe Essential Movie Library #45: In the Mood for LoveThe Essential Movie Library #44: Touch of EvilThe Essential Movie Library #43: Once Upon A Time in the WestThe Essential Movie Library #42: Belle de JourThe Essential Movie Library #41: Apocalypse NowThe Essential Movie Library #40: Out of the PastThe Essential Movie Library #39: Branded to KillThe Essential Movie Library #38: The GeneralThe Essential Movie Library #37: Lord of the RingsThe Essential Movie Library #36: Aguirre, the Wrath of GodThe Essential Movie Library #35: Raging BullThe Essential Movie Library #34: The Rules of the GameThe Essential Movie Library #33: Chinatown The Essential Movie Library #32: StalkerThe Essential Movie Library #31: WeekendThe Essential Movie Library #30: Some Like It Hot The Essential Movie Library #29: Red RiverThe Essential Movie Library #28: The PassengerThe Essential Movie Library #27: Singin’ in the RainThe Essential Movie Library #26: HeatThe Essential Movie Library #25: L’AtalanteThe Essential Movie Library #24: SunriseThe Essential Movie Library #23: His Girl FridayThe Essential Movie Library #22: Black NarcissusThe Essential Movie Library #21: Blade RunnerThe Essential Movie Library #20: PersonaThe Essential Movie Library #19: The Shop Around the CornerThe Essential Movie Library #18: Lost HighwayThe Essential Movie Library #17: Tokyo StoryThe Essential Movie Library #16: 8 1/2The Essential Movie Library #15: City LightsThe Essential Movie Library #14: Seven SamuraiThe Essential Movie Library #13: Lawrence of ArabiaThe Essential Movie Library #12: Citizen KaneThe Essential Movie Library #11: Jules and JimThe Essential Movie Library #10: My Darling Clementine The Essential Movie Library #9: Double Indemnity The Essential Movie Library #8: That Obscure Object of Desire The Essential Movie Library #7: 2001: A Space Odyssey The Essential Movie Library #6: CasablancaThe Essential Movie Library #5: The Lady EveThe Essential Movie Library #4: The Third Man The Essential Movie Library #3: The Passion of Joan of Arc The Essential Movie Library #2: Vertigo The Essential Movie Library #1: The Godfather Trilogy TAGSThe Spirit of the BeehiveMoviesL.A CultureEssential Movie LibraryPrevious articleEarth Day Edition: The Whole Foods TruthNext articleCowabunga: Jeep Is the One and Only Car for the SoCal CoastSteve Erickson RELATED ARTICLESMORE FROM AUTHORArcLight Cinemas and Pacific Theatres Are Permanently Shutting DownL.A. Movie Theaters Can Reopen Next Week—but Some Cinemas Aren’t Quite Ready‘The Raw Materials Were Her Life’: The New Billie Eilish Documentary Shoots for Storytelling with No Filterlast_img read more

Mark Z. Danielewski Embarks on One of the Most Ambitious Book…

first_imgBooksMark Z. Danielewski Embarks on One of the Most Ambitious Book Projects in the History of L.A.By David Kipen – May 5, 20151322ShareEmailFacebookTwitterPinterestReddItThe graphomaniacal genius novelist Mark Z. Danielewski has finally written his “L.A. book,” one thoroughly simmered in our city’s bubbling, pungent stockpot. The Familiar is also, incontestably, the shortest 880-page novel you’ll ever read. Between ample white space and psychedelic, font-happy typography, it flies by with the breakneck surrealism of lived experience. Danielewski comes by his cinematic style naturally, having done grad work at USC before writing his terrifying first novel, 2000’s House of Leaves, followed six years later by the National Book Award-nominated Only Revolutions.The Familiar is nine fully populated stories in one, modulating from Silicon Beach to East Los Angeles to Singapore, yet always returning to its home: the family of a gifted, fragile 12-year-old girl in Echo Park. Astonishingly it’s but the first volume of a 27-part invention—a roughly 20,000-page serial “love letter to Los Angeles,” as he calls it, which Danielewski’s publisher plans to release at an unprecedented two-book-a-year clip over 13½ years. “A friend of mine asked, ‘Are you stressed?’ ” Danielewski says, natty in his signature “stingy-brimmed” straw fedora, “and I said, ‘You know, I have no energy left to give to stress.’ ”Watching the 49-year-old thinking out loud is the best show in town—and the hottest ticket—whenever he ringmasters the Halloween adaptation of his novella The Fifty Year Sword onstage at REDCAT. “You just don’t get this in New York City,” he marvels. “Out here people will always listen if you’ve got a crazy idea. And in my case they kept listening, so here I am.”Fonts of InspirationDanielewski and 50 other L.A. writers traveled in 2009 to the Guadalajara International Book Fair. He credits the friendships he found and renewed there with helping him decide to write The Familiar. Here, a few of his go-to sounding boards from the class of ’09:Aimee BenderAn Invisible Sign of My Own and The Particular Sadness of Lemon Cake are among the sense-bending novels and stories of Bender, who teaches at USC.Sarah Shun-lien BynumA professor at Otis College of Art and Design, the National Book Award-nominated author wrote the linked stories of Ms. Hempel Chronicles, about a schoolteacher who is far less prepared in class than Bynum would ever be.Laurie OchoaIn 2010, when she was coediting the L.A. literary journal Slake, Ochoa published Danielewski’s “The Promise of Meaning,” a widely read essay about the importance of poetry. Today Ochoa is on staff at the L.A. Times. TAGSAimeeLaurie OchoaMark Z. DanielewskiSarah Shun-lien BynumPrevious articleLong Beach Is Ready to Battle the O.C. Over a 405 ExpansionNext articleJimmy Fallon and Jack Black Perform “More Than Words”David Kipen RELATED ARTICLESMORE FROM AUTHORThese 8 Local Literary Events Will Give You Something Smart to Talk About at Your Next Dinner PartyThe 10 Commandments of Writing About L.A.L.A.’s Top Literary Events in Novemberlast_img read more

UK construction industry shows signs of revival

first_img whatsapp Construction bounced back in last month, new data has shown, with the Markit/CIPS UK Construction Purchasing Managers’ Index registering 55.9 in May.The figure beat forecasts and remained way above the 50 threshold which indicates growth. However, the sector still has a long way to go after April’s dismal reading of 54.2 – although optimism is high following the Tories’ win in the General Election. “With a sustained period of policy uncertainty no longer on the horizon, business confidence surged back to its highest level since early 2006,” Tim Moore, senior economist, said.Construction companies recorded a slight rebound in output growth last month, or the first since Feburary, although this only partially reversed the loss of momentum seen in April ahead of the general election.Nevertheless, business confidence across the construction sector rose to its highest level since February 2006. Respondents said employment levels were supporting a post-election bounce in clients’ willingness to spend.And additionally hiring accelerated at the fastest rate in five months during May.”However, it is far from certain whether the relief rally in construction confidence will usher in a lasting turnaround in output volumes on the ground,” Moore said.”Despite a client spending rebound in May, all three key areas of construction activity have lost considerable momentum over the past 12 months.” “The scale of the construction slowdown since 2014 is such that it will not be fully reversed through the release of pent up demand after the election alone.”Data released last week showed construction output fell by 1.1 per cent in the first quarter of this year, having already shrunk 2.2 percent at the end of 2014. Tags: Construction industry Tuesday 2 June 2015 5:00 am Show Comments ▼center_img UK construction industry shows signs of revival whatsapp Jessica Morris Sharelast_img read more

News / No extension to Brexit transition period, but border controls will be eased, at first

first_img The UK government has confirmed it will not seek an extension to the Brexit transition period, but will relax border controls for imports, initially, and implement new controls, in stages, to give businesses more time to prepare.In what seems an admission that businesses – and customs – will not be ready for the huge shift, particularly as they continue to battle the impacts of coronavirus, the government said it would offer an additional £50m in grants, on top of the initial £34m, to “accelerate the growth of the UK’s current customs intermediaries sector”.The government said: “Recognising the impact of coronavirus on businesses’ ability to prepare, and following the announcement in February that the UK would implement full border controls on imports coming into GB from the EU, the UK has taken the decision to introduce the new border controls in three stages up until 1 July 2021. This flexible and pragmatic approach will give industry extra time to make necessary arrangements.”Cabinet minister Michael Gove also appeared to be pulling back from his recent comments that businesses were exaggerating their concerns.From next January, traders importing standard goods, everything from clothes to electronics, will need to prepare for basic customs requirements, such as keeping sufficient records of imported goods, and will have up to six months to complete customs declarations.While tariffs will need to be paid on all imports, payments can be deferred until the customs declaration has been made. There will be checks on controlled goods like alcohol and tobacco. Businesses will also need to consider how they account for VAT on imported goods, said the government.There will also be physical checks at the point of destination, or other approved premises, on all high-risk live animals and plants. From April, all products of animal origin – for example meat, pet food, honey, milk or egg products – and all regulated plants and plant products will also require pre-notification and the relevant health documentation.And from July, traders moving all goods will have to make declarations at the point of importation and pay relevant tariffs. Full Safety and Security declarations will be required, while for sanitary and phytosanitary (SPS) commodities, there will be an increase in physical checks and the taking of samples: checks for animals, plants and their products will now take place at GB Border Control Posts.The announcement follows this morning’s meeting of the Withdrawal Agreement Joint Committee – the last formal moment to agree an extension to the transition period – at which the government confirmed its much-criticised position that no extension would be sought.The government also committed to building new border facilities for carrying out required checks, such as customs compliance, transit, and sanitary and phytosanitary checks, as well as providing targeted support to ports to build new infrastructure.Where there is no space at ports for new infrastructure, the government will build new inland sites where these checks and other activities will take place. It said it was consulting with ports across the UK to agree what infrastructure is required.The UK logistics industry welcomed the news. Elizabeth de Jong, policy director at the Freight Transport Association, said: “The logistics industry is extremely grateful for the measures announced by the UK government to stage the introduction of new trading arrangements between the EU and UK in the first six months after the transition period.“They have listened to our concerns and made allowances to enable our sector to recover from the Covid-19 pandemic and plan effectively so that we can continue to trade effectively with Europe.”The government said it would publish a border operating model in July.The rules apply only to UK-EU trade, not trade between Northern Ireland and Ireland, or between Northern Ireland and GB, which is covered by the withdrawal agreement. © Cmanuel1973 | By Alex Lennane 12/06/2020last_img read more

Fewer U.S. teens smoking, doing drugs, and drinking milk

first_imgOne trend that stood out was the drop in drinking milk, which started falling for all Americans after World War II. In recent decades, teens have shifted from milk to soda, then to Gatorade and other sports drinks, and recently to energy drinks like Monster and Red Bull. Comparing the Covid-19 vaccines developed by Pfizer, Moderna, and Johnson & Johnson HealthFewer U.S. teens smoking, doing drugs, and drinking milk One caveat: Most students were not asked about energy drinks so how many kids drink them now isn’t known. A study from a decade ago estimated that nearly a third of kids between the age of 12 and 17 were regularly drinking energy drinks.Kids have shifted from a dairy product rich in calcium and vitamin D to beverages laden with sugar and caffeine, which is likely contributing to the nation’s obesity problem, said Barry Popkin, a University of North Carolina researcher who studies how diets change.“This is not a healthy trend for our long-term health,” he said.For teens, the government recommends 3 cups daily of dairy products — milk, yogurt or cheese.The survey by the Centers for Disease Control and Prevention is conducted every two years. About 15,000 students at 144 high schools were surveyed last year. The surveys are anonymous and voluntary, and there’s no check of medical records or other documents to verify answers.Some of the findings:Not as many teen are having sex, although there wasn’t much change from the 2015 survey results. Last year, about 40 percent said they’d ever had sex, down from 48 percent a decade ago.There was no substantial recent change for cigarette smoking, either. About 9 percent are current smokers, down from more than 27 percent when the survey started in 1991. Ditto alcohol, with 30 percent saying they currently use alcohol, down from 51 percent in 1991.Marijuana use seems to hovering, with about 36 percent of students saying they had ever tried it. But overall, illegal drug use seems to be falling, including for synthetic marijuana, ecstasy, heroin, inhalants, and LSD and other hallucinogenic drugs. For the first time, the survey asked if they had ever abused prescription opioid medications. About 14 percent did.Another first-time question: Have you had a concussion from a sport or physical activity at least once in the previous year? Nationally, 15 percent said they had. The finding may sound high but it’s not far off from what’s been reported by some other researchers, said Michael Collins, who runs a University of Pittsburgh-affiliated sports concussion program.— Mike StobbeThe Associated Press Health & Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. By Associated Press June 14, 2018 Reprints About the Author Reprints Tags nutritionsexual healthcenter_img NEW YORK — Fewer U.S. teens are smoking, having sex and doing drugs these days. Oh, and they’re drinking less milk, too.Less than one-third of high school students drink a glass of milk a day, according to a large government survey released Thursday. About two decades ago, it was nearly half.Last year’s survey asked about 100 questions on a wide range of health topics, including smoking, drugs, and diet. Researchers compared the results to similar questionnaires going back more than 25 years.advertisement Gerald Herbert/AP Associated Press Trending Now: The survey showed slightly fewer kids are drinking soda and sports drinks now, compared to the last survey in 2015.advertisementlast_img read more

Questrade cleared to offer CFDs

The Ontario Securities Commission (OSC) has given permission for an online broker to offer contracts for difference (CFDs) and other over-the-counter (OTC) foreign exchange contracts by providing upfront risk disclosure, rather than a prospectus. According to Thursday OSC Bulletin, the OSC has approved an application from Questrade Inc., granting relief from prospectus requirements in connection with the distribution of CFDs and OTC foreign exchange contracts, subject to various terms and conditions. James Langton The conditions include that the transactions comply with the rules of the Investment Industry Regulatory Organization of Canada (IIROC); that clients be provided with risk disclosure before entering into a transaction, and that they acknowledge receiving and reading that disclosure; among other things. The decision indicates that the firm believes requiring a prospectus in order to trade OTC contracts with retail clients “would not be appropriate since the disclosure of a great deal of the information required under a prospectus and under the reporting issuer regime is not material to a client seeking to enter into an OTC transaction.” Instead, it maintains that the information to be given to this sort of client “should principally focus on enhancing the client’s appreciation of product risk including counterparty risk”; adding that most OTC positions are opened and closed on the same day, and are marked to market and cash settled daily. The relief does not apply in Alberta, the decision notes, indicating that the Alberta Securities Commission (ASC) has concerns about relying on a passport system decision to allow a prospectus exemption for OTC contracts. So, the firm will make a separate application for relief in Alberta, if it wants to offer OTC contracts to clients there without a prospectus. Share this article and your comments with peers on social media CMC Markets preps to sell CFDs to retail investors CMC Markets to offer CFD trading to Canadian retail investors Facebook LinkedIn Twitter Questrade offers CFD trading Keywords CFDs — Contracts for differenceCompanies Ontario Securities Commission, Questrade Financial Group Inc. Related news read more

CSA adopts changes for funds transitioning to IFRS

Initially proposed in 2009, the IFRS-related amendments to were deferred and not finalized at the time securities legislation was first changed to accommodate the transition to IFRS by registrants and reporting issuers, other than investment funds, for financial years beginning on or after Jan. 1, 2011. In 2010, the International Accounting Standards Board (IASB) recognized a potentially significant accounting issue for investment funds and made revisions in 2012 to largely resolve this issue. To accommodate the timing of the IASB revisions, the Canadian Accounting Standards Board (AcSB) issued a deferral of the mandatory IFRS changeover date for investment funds for three years until Jan. 1, 2014. The CSA was also of the view that it was preferable to wait for the IASB’s revisions before IFRS was adopted by investment funds in Canada. The final amendments published today reflect comments received on the 2009 proposal, additional stakeholder consultations and further IASB developments related to investment funds. The changes impact investment fund requirements relating to the presentation of financial statements and terminology to reflect the transition to IFRS. IE Staff After pandemic’s liquidity storm, possible fund reform Share this article and your comments with peers on social media SEC to overhaul fund valuation rules Keywords Investment funds,  IFRSCompanies North American Securities Administrators Association Related news The Canadian Securities Administrators (CSA) has completed the final step in the transition to International Financial Reporting Standards (IFRS) for investment funds. The CSA Thursday published final amendments to National Instrument 81-106 Investment Fund Continuous Disclosure, its Companion Policy and related amendments. Investment funds must apply the changes for financial years beginning on or after January 1. Retail investor costs in EU regs’ crosshairs for 2021 Facebook LinkedIn Twitter read more