Ladbrokes-owner GVC increases gambling revenue in first quarter

first_img James Booth Read more: GVC shares plunge as bosses offload majority of their holdingsUK retail revenue was flat while European retail revenue was up two per cent.The company said the impact of the cut in the amount allowed to be staked on fixed odds betting terminals was not yet clear after its introduction on 1 April.GVC said it is confident of meeting market expectations on profits for the financial year.Read more: Ladbrokes owner GVC scores on World Cup betting splurge Share Chief executive Kenneth Alexander said: “This trading update reflects a continuation of the strong trends reported on 5 March 2019, and represents an excellent start to the year. We continue to see good volume growth across all major online brands and territories and we remain very confident of achieving our target of double-digit online NGR growth.“The impact of soft gross win margins in Italy and the UK was offset by improved margins in other territories, demonstrating the benefit of both geographic and product diversification across the group.“In UK retail and European retail, improved sports wagering growth helped offset softer sports gross win margins. New B2 machines stakes restrictions were implemented in the UK on 1 April 2019 and we expect it to be several weeks before we can start to assess the impact. At this early stage of the year, the board is confident of delivering EBITDA and operating profit in-line with expectations.”George Salmon, equity analyst at Hargreaves Lansdown said: “It was only a brief first quarter trading update, but this announcement was important for GVC after market confidence was rocked by senior management dumping millions of shares last month. With the group still cantering towards its targets of double-digit online revenue growth, we think these numbers are generally reassuring.”One blot on the copybook is that win margins are lower, meaning customers have had a comparatively good run recently. But the bookie always wins in the end. Punters often recycle a significant chunk of their winnings into another bet, and bookmakers can count on time taking its toll on a gambler’s roll. GVC will be hoping the tide turns over Grand National weekend, which is of course one of the most lucrative in the sporting calendar.“ Ladbrokes-owner GVC increases gambling revenue in first quarter Friday 5 April 2019 8:02 amcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFilm 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 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny GVC said today that it had increased gambling revenue in the first quarter by eight per cent.In a trading update, the Ladbrokes-owner said online net-gaming revenue (NGR) increased 17 per cent, which it said included strong volume growth in all territories. whatsapp whatsapp Tags: Company Gaming Ladbrokeslast_img read more

US factory orders plunged 10.3 per cent in March

first_imgMonday 4 May 2020 4:44 pm Orders for US-made goods plunged 10.3 per cent in March, and could fall further as coronavirus shutters the economy. US stocks faced a difficult start to trading after US President Donald Trump stoked tensions with China over coronavirus, adding to the economic uncertainty. The Dow Jones sank into the red, shedding close to 220 points to 23,506 points, with investors concerned Trump is looking to blame China for the pandemic, which could worsen the economic outlook. whatsapp The coming recession – technically two quarters of contraction – will bring to an end more than ten years of growth in the US. GDP had increased 2.1 per cent in the final quarter of 2019. The fall represents the lowest reading in 11 years, driven by the steepest decline in manufacturing output on record. whatsapp The US Department of Commerce said factory orders declined 10.3 per cent, as coronavirus lockdown measures began to shut down the economy. It is further confirmation that the coronavirus pandemic has shuttered the US economy. Last week, figures showed that US factories’ output slumped to 36.1 in April. Anything below 50 represents a contraction. Also Read: US factory orders plunged 10.3 per cent in March The steeper than expected fall in orders came as orders for both durable and non-durable goods fell. Durable goods orders plunged 14.7 per cent, while orders for nondurable goods fell 5.8 per cent. Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic. Get the news as it happens by following City A.M. on Twitter. center_img Additionally, US GDP shrank at an annualised rate of 4.8 per cent in the January to March period, worse than economists had expected. Share Connor Campbell, financial analyst at Spreadex, said: “How the US indices perform across the rest of the session will likely be dependent on whether Donald Trump or one of his cronies lobs any more verbal grenades towards China on the topic of tariffs or lab-grown virus conspiracies.” Angharad Carrick Sentiment was also dented by investor Warren Buffet’s admission that he had sold all of Berkshire Hathaway’s shares in US airline stocks. Delta, United and American Airlines each tumbled around eight per cent in early trading. Alaska Air Group fell more than seven per cent. Also Read: US factory orders plunged 10.3 per cent in March The S&P 500 index edged down 0.35 per cent, while the Nasdaq Composite was up 0.46 per cent. US factory orders plunged 10.3 per cent in March US stocks drop on economic uncertainty Show Comments ▼last_img read more

The science behind Steph Curry’s knee injury — and what it means for the NBA Finals

first_imgHealthThe science behind Steph Curry’s knee injury — and what it means for the NBA Finals Please enter a valid email address. More sports teams embrace cryotherapy, freezing players to improve play By Dylan Scott June 2, 2016 Reprints The other factor is not physical, but mental. Petschauer and Landel testified to working with athletes who couldn’t get over the emotional toll of an injury — the fear that their next move could put them back on the trainer’s table.“They have an awareness of their body that we do not have,” Petschauer said.After an MCL injury, when the knee can bend side to side in a way that it wouldn’t when healthy, Landel said: “Patients get a queasy feeling in their stomach when it happens.”“You can imagine if you went up for a jump shot or a layup, you’re thinking, ‘I wonder if I’ll be able to land,’” he said. “You’re not thinking about putting the ball in the bucket.”Adding to the intrigue around Curry’s injury is his decision to get what’s known as platelet-rich plasma treatment to help speed his recovery. It is a treatment that has been tried by other professional athletes eager to get back on the court or field as quickly as they can — even if the science proving its effectiveness is still in its infancy.It involves withdrawing a patient’s own blood and separating out what are called platelets, which are primarily responsible for clotting blood but also contain growth proteins that support healing. A concentrated dose of the platelets is then injected into the injured area.The treatment has been around for a couple decades, but has gained attention in recent years after reports that athletes including Tiger Woods and Rafael Nadal (and now Curry) have turned to it to speed up their recovery. What’s normal for the abnormal? A close look at NBA players’ hearts Related: For a player like Curry, the MCL is a particularly important ligament, and one of the treatments he sought for his injury remains, well, scientifically unproven.(Full disclosure: The author is a Cleveland Cavaliers fan. Other STAT team members root for the Warriors.)advertisement The MCL is one of four ligaments connecting the femur bone to the tibia at the knee. It helps keep the knee stable as it moves from the outside to the inside.So the lateral movements that allow a twitchy dribbler like Curry to get past the guy guarding him and go to the rim or to juke a defender to open up a shot are going to put pressure on the ligament.“His injury was mild on the sprain scale, but, because of what he does, it ends up having a huge impact on what he does and what he can do,” said Rob Landel, a professor of clinical physical therapy at the University of Southern California.Athletic trainers refer to what’s called a “valgus” position — that’s when the knee is turned inward toward the center of the body, and the MCL stretches to keep the joint stable.Most people naturally stand in a slight valgus position, meaning they are putting a little pressure on their MCL without even trying. Playing basketball just adds to that stress, especially during the quick movements that guards like Curry rely on.“That valgus position occurs pretty often in basketball,” said Meredith Petschauer, an exercise and sports science professor at the University of North Carolina at Chapel Hill, “because what you have to do in basketball all the time is plant your foot and turn in a different direction.”You can see it in the abundant clips of Curry dribbling past defenders trying to stay in front of him. As he plants and suddenly swings the ball from one hand to the other, his knee bends accordingly and the MCL flexes.“With a crossover dribble, trying to get a guy to go one way and quickly change direction and go the other way, that kind of lateral move will likely stress it,” Landel said.Many essential parts of playing basketball put demands on the MCL — stuff as simple as jumping and landing.“There’s always a tendency in all of us, when you land from a jump, to put valgus stress on the knee,” said Dr. Lyle Micheli, director of the sports medicine division at Boston Children’s Hospital and an orthopedics professor at Harvard Medical School.Or there’s the basic physical contact that comes with playing tough defense and setting screens — if your feet are planted and somebody pushes you, the MCL is likely to bear the brunt of keeping you steady.“When you’re colliding with other people, you can get pushed into that valgus position as well,” Petschauer said. “It’s the most common position to get pushed into.”center_img Related: When the NBA Finals start Thursday, the pressure will be on, among other things, Steph Curry’s knee.The Golden State Warriors have other great players on their roster, but Curry is the best — the reigning league MVP and the best shooter of his generation. So the only thing that a team that just played the best regular season in NBA history might have to worry about is their point guard’s medial collateral ligament.Curry sprained the MCL in his right knee when he slipped awkwardly in a first-round game against the Houston Rockets. And although he returned to play in the next round, speculation persisted that his MCL might be holding him back. It could be one of the few X factors in the finals outside the Xs and Os when the Warriors face off against LeBron James and the Cleveland Cavaliers.advertisement Stephen Curry sprained the MCL in his right knee during a first-round playoff game against the Houston Rockets. Thearon W. Henderson/Getty Images Tags NBAsports medicineSteph Curry Leave this field empty if you’re human: Science, though, hasn’t definitively demonstrated its usefulness yet, according to the experts.“It’s just in its infancy in terms of scientific validity,” Micheli said. “To really know whether it’s valid, you’ve got to do big, double-blind studies. That kind of research has not been done.”Nonetheless, he said some physicians at his clinic have used the treatment. Because patients don’t appear to experience any negative side effects, the risk is deemed low.At the same time, especially for pro athletes like Curry, the upside of getting back into the game even just a few days sooner “makes all the difference in the world,” as Micheli put it. That potential benefit, paired with their ability to pay for a procedure that an average person’s insurance might consider experimental, likely helps explain its popularity with the pros.“There’s kind of a: ‘Well, why not?’” Landel said. “Athletes are looking for any advantage they could possibly get.” Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. Privacy Policylast_img read more

Rays of hope: light therapy through the ages

first_imgHealthRays of hope: light therapy through the ages The science behind the infrared saunas sweeping Hollywood Smoothing blemished skinDoctors have long used forms of near-infrared, ultraviolet, and laser therapy to treat skin conditions. It’s an easy sell to patients who feel disfigured by conditions like cystic acne, psoriasis, eczema, vitiligo, and skin lesions. To this day, light therapy is marketed as an outpatient treatment for many dermatological woes.Somewhere along the way, though, marketers got the idea that they could sell light as having broader beautifying effects. Beauty Angel, a company based in Germany, boasts that standing inside one of its infrared light machines makes you pretty by building up collagen, reducing fine lines, and softening the skin. Small studies have found some improvements in the skin appearance of healthy patients exposed to various light therapies (including LED lights and infrared diode treatment).But when celebrities claim that relaxing in an infrared sauna can rejuvenate cells and flush out toxins, they’re way overselling the science. The treatment became less common after 1932, when the U.S. began adding vitamin D to milk. Doctors also realized that it actually doesn’t take much sun to get enough vitamin D, as long as there’s some skin exposure.advertisement Strengthening fragile bonesBeginning in the late 1800s, it wasn’t unusual to go to a hospital and see small groups of children and babies, wearing little more than protective goggles, sitting around under or in front of what was essentially a giant sunlamp. The ultraviolet light was meant to treat a condition called rickets, which causes the bones to soften. In the most severe cases, children with rickets develop bowed legs. The condition is caused by a severe vitamin D deficiency; doctors thought high doses of ultraviolet light would help by spurring the children’s bodies to synthesize vitamin D. And there’s some anecdotal evidence that it did make a difference. Improving mental healthIt’s debatable whether light therapy can make you look good, but studies show that it can make you feel good — or better, anyway. Recent studies provide evidence that light therapy can improve symptoms of depression in college students, pregnant women, and other adults. A 2016 study found that even among patients already taking antidepressants, those who added bright light to their regimen found more relief.There’s now a whole market for “light therapy” boxes to treat seasonal affective disorder (depression that surfaces in the low-light seasons of fall and winter). They sell for anywhere from $25 to $300. Comparing the Covid-19 vaccines developed by Pfizer, Moderna, and Johnson & Johnson Trending Now: By Leah Samuel Aug. 3, 2017 Reprints A group of children wearing goggles sits in front of large reflecting lamps at the Institute of Ray Therapy. Fox Photos/Getty Images Tags mental healthwellness It was an arresting image: Four children, wearing black masks to protect their eyes, sitting in front of large lamps. The caption placed them at London’s Institute of Ray Therapy, which opened in 1930.The old photo got us thinking about light therapy, then and now. A hundred years ago, it was all the rage; in addition to the Institute of Ray Therapy, London also boasted a Municipal Sunlight Clinic. The concept seems to be coming back in vogue now; celebrities from Jennifer Aniston to Lady Gaga have been touting the benefits of sweating it out under infrared lights in a steamy sauna.A little digging through old medical journals (and, yes, modern search engines) turned up an array of therapies based on artificial light. Here, some of our favorites uses for the humble lamp:advertisement Related:last_img read more

Listen: Elon Musk’s monkey cyborg, Gilead’s shifting future, & an app for anxiety

first_img [email protected] By Damian Garde , Rebecca Robbins, and Adam Feuerstein July 18, 2019 Reprints Can apps treat anxiety? Is Gilead Sciences back on track? And are we all just brains in a vat?We discuss all that and more on the latest episode of “The Readout LOUD,” STAT’s biotech podcast. First, we dig into Elon Musk’s brain-computer interface company and the bombastic announcement of its futuristic intentions. Then, we discuss Gilead’s $5 billion effort to reverse its recent fortunes. Later, STAT’s Megan Thielking joins us to discuss the complexity of designing apps to deal with mental health issues. Finally, we embark upon a lightning round, featuring sea-sick volunteers, big-money startups, and experimental eye surgery.For more on what we cover, here’s the Musk news; here’s the Gilead story; and here’s more on mental health apps.advertisement About the Authors Reprints Adam Feuerstein @adamfeuerstein @damiangarde The Readout LOUDListen: Elon Musk’s monkey cyborg, Gilead’s shifting future, & an app for anxiety We’ll be back next Thursday evening — and every Thursday evening — so be sure to sign up on iTunes, Stitcher, Google Play, or wherever you get your podcasts.And if you have any feedback for us — topics to cover, guests to invite, vocal tics to cease — you can email [email protected] Senior Writer, Biotech Adam is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street. He’s also a co-host of “The Readout LOUD” podcast. [email protected] Damian Garde National Biotech Reporter Damian covers biotech, is a co-writer of The Readout newsletter, and a co-host of “The Readout LOUD” podcast. Interested in sponsoring a future episode of “The Readout LOUD”? Email us at [email protected] Tags biotechnologymental healthneurologyneurosciencelast_img read more

FDA advisory panel recommends approval of Aimmune peanut allergy therapy

first_img Tags biotechnology @adamfeuerstein Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. By Adam Feuerstein Sept. 13, 2019 Reprints Adam Feuerstein Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED What is it? FDA advisory panel recommends approval of Aimmune peanut allergy therapy We’re monitoring today’s meeting of the FDA advisory committee on Palforzia, a novel but controversial treatment that uses calibrated quantities of ingested peanut powder to protect people against severe peanut allergy. Check back here often for updates throughout the day.Let’s get this FDA panel started8 a.m.: The FDA advisory panel will be a pivotal moment for Aimmune Therapeutics, the biopharma company that developed the new treatment. If approved, Palforzia (formerly AR101) will be the first protective therapy for peanut allergy and the start of what Aimmune hopes will be a family of products with blockbuster commercial potential — all designed to benefit the millions of people who suffer with life-threatening food allergies. What’s included?center_img STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. GET STARTED Adobe Biotech Senior Writer, Biotech Adam is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street. He’s also a co-host of “The Readout LOUD” podcast. [email protected] About the Author Reprints Log In | Learn More last_img read more

Laois County Council joins drive to renovate buildings and deliver on climate objectives

first_img Pinterest Home News Council Laois County Council joins drive to renovate buildings and deliver on climate… NewsCouncil Facebook Electric Picnic Twitter Electric Picnic apply to Laois County Council for new date for this year’s festival Council By Alan Hartnett – 24th May 2021 Laois County Council joins drive to renovate buildings and deliver on climate objectives Previous article€22,000 for footpath upgrade works in Laois town with works to begin in next few weeksNext articleFrom the LaoisToday Archives: 16 things to keep in mind as Silage Season is upon us Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Laois, Cork and Kilkenny joined a network of 32 European local authorities testing out how measuring the holistic benefits of energy renovation can help in addressing climate change.The Irish Green Building Council (IGBC) announced that the three Councils are now part of the European Union funded BUILD UPON2 project.The objective of Build Upon2 is to develop and implement a framework that allows local authorities to track and measure a wide range of benefits of building renovation, from energy efficiency to tackling energy poverty and creating jobs.By tracking the diverse environmental, social and economic benefits of renovation, Laois, Cork and Kilkenny can better identify and share retrofit best-practice and feed into Ireland’s national Long Term Energy Renovation Strategy.A total of 32 European local authorities, including the capital cities Dublin, Madrid and Rome, are now using the Build Upon2 Framework, which is a crucial tool to deliver climate and energy renovation targets.The EU’s Renovation Wave plan set an ambitious target to at least double the bloc’s renovation rate by 2030.The organisations involved in Build Upon2 are the latest in a growing trend that sees local authorities taking a leadership role on climate action.In the runup to the COP26 UN Climate Change Summit in November 2021, where BUILD UPON2 will be showcased as part of the Cities and Built Environment Day co-convened by the World Green Building Council, this bold statement of intent from European local governments will help increase the pressure on world leaders to take decisive action.Joe Delaney, Director of Services, Laois County Council said:“We are determined to lead by example in tackling climate change. Laois County Council is working to make Portlaoise Ireland’s first ‘low carbon town’.“We also have an ambitious retrofit programme. Joining the Build Upon network will allow us to better track the impact of our energy renovation programme and to learn from other local authorities in Europe.”SEE ALSO – New to the Area: Tennessee woman calls Portlaoise her ‘Forever Home’ Electric Picnic WhatsApp Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter WhatsApp Electric Picnic organisers release statement following confirmation of new festival date Pinterest TAGSLaois County Council Mary Sweeney elected Cathaoirleach of Portlaoise Municipal District for next 12 monthslast_img read more

North Korean Studies Struggling to Survive

first_img Is Nuclear Peace with North Korea Possible? Tracking the “unidentified yellow substance” being dried out near the Yongbyon Nuclear Center By Daily NK – 2011.04.01 9:55pm In the 1990s, as real debate about the problem of reunification came finally to be realized in South Korean society, so voices in support of the need for expert research and training began to be heard. As a result, a number of domestic South Korean universities launched their own North Korean Studies departments. The process began in 1994 with Dongguk University, which was rapidly followed over the course of four years by a five further institutions; Myungji University, Gwandong University, Korea University, Chosun University and Sunmoon University. However, things have taken a turn for the worse since then; two of the six have since closed their departmental doors; Chosun University just one year after it opened, and Gwandong University in 2006. Elsewhere, the story has only been slightly better. Sunmoon University reorganized and renamed its department in 2008, calling it the Department of Northeast Asian Studies instead, and Myungji University merged its department with the Department of Politics and Diplomacy in 2010. Only two, the prestigious Korea University and second-tier Dongguk University, still run departments explicitly named North Korean Studies.Furthermore, there are substantial doubts at Dongguk University about the future of its Department of North Korean Studies. Back in 2007 the number of places on the program was halved to twenty and, including foreigners, just 21 students joined in 2011. Should this number fall below 15, the university says it is likely that the department would have to close. Meanwhile, 39 students came to study North Korean Studies at Korea University this year, which is actually an increase over last year, when roughly 30 did the same. However, that is an upward tick in what is clearly a largely downward trend.What, then, is the reason why North Korean Studies in South Korea is in such a state of crisis? Most professors and other experts point to the lack of job opportunities for North Korean Studies graduates as one of the key problems.Professor Yoo Ho Yeol of Korea University explained to The Daily NK, “There is no way for North Korean Studies majors to avoid facing limited opportunities after graduating,” and added, “If there were healthy North Korean Studies departments at around ten universities in the capital then a consensus could be reached, but it is hard to foresee stability based on the scale of the departments in the remaining universities.”Oh Gyeong Sob, who earned his doctorate at Korea University and is now a researcher with the Sejong Insititute, agreed, saying, “The competition rate for this major fell because of limited jobs for North Korean Studies graduates. From the schools’ point of view, it is becoming inevitable for them to present the idea of closing the departments.” There is also now the problem of providing adequate teaching at all given the shrinking nature of the North Korean Studies field.Professor Yoo went on, “On the one hand, there is the point that North Korean Studies covers too much theory. In the department, it would be good to study North Korea from the fundamental academic angles of politics, economics, sociology etc, but within the limitations it is hard to deal with everything. Increasingly, there is also the problem of running a department which cannot obtain adequate teaching staff to conduct the North Korean Studies program.” Myungji University’s academic management decided to merge its own Department of North Korean Studies with the Department of Politics and Diplomacy after applications fell. Now it is facing the emerging problem of maintaining courses for existing students, too.One graduating student from the university explained, “At first I thought there would be synergy since Politics and Diplomacy is cut from a bigger version of the same cloth as North Korean Studies. However, after merging, bit by bit the North Korean Studies curriculum began to shrink, for example with courses I had wanted to study not opening.”Lee Ji Su, a professor at Myungji University said, “Even within the shape of the Department of Politics and Diplomacy, we are placing the stress on support to achieve good research and teaching results.”Regardless, of the 17 graduating students from Myungji University this year, just three have entered a North Korean Studies-related field, and two of those actually went on to post-graduate courses. The overall employment rate is just 10%.It seems, therefore, that without a substantial change in the landscape, the future for North Korean Studies in South Korea will continue to be bleak. Analysis & Opinion Pence Cartoon: “KOR-US Karaoke” SHARE Analysis & Opinion center_img North Korean Studies Struggling to Survive Analysis & Opinion RELATED ARTICLESMORE FROM AUTHOR AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] Analysis & Opinion Facebook Twitterlast_img read more

Quebec to table 2017-18 budget today

first_img Keywords Quebec Facebook LinkedIn Twitter Share this article and your comments with peers on social media Quebec to harmonize with federal income splitting rules Canadian Press Related newscenter_img Quebec budget to be tabled on March 27 Quebec Finance Minister Carlos Leitão will table the province’s 2017-18 budget today and says it will be one of “confidence and optimism.” Leitão said earlier this month he will be tabling his third consecutive balanced budget. Quebec seniors working later in life, carrying more debt He is expected to reinvest heavily in health and education, two sectors that suffered major cuts in recent years as the Liberals balanced the books. Coalition Leader Francois Legault is calling for income-tax cuts, but Leitão will likely keep a lot of the consumer-friendly goodies for next year’s budget, which will be tabled just months ahead of the October 2018 provincial election. Leitão promised in 2014 to alleviate the tax burden on Quebecers, who are among the most heavily taxed people in North America.last_img read more

Bond ETF assets soar

first_img Keywords ETFsCompanies BlackRock Inc. $4.7B flowed into Canadian ETFs in March James Langton Mutual fund sales dipped, but still outpaced ETF sales in April Share this article and your comments with peers on social media Global fixed income ETFs are enjoying robust growth, and that’s expected to continue over the next few years, according to BlackRock.The asset management giant reported that global fixed income ETF assets grew by 30% in the past 12 months to a record US$1.3 trillion at the end of June. The growth has been powered by “increased investor appetite for liquid, transparent and efficient access to the bond market,” the firm said, noting that 84% of the growth was due to net inflows.“The versatility and resilience of the largest and most heavily traded fixed income ETFs, especially through market stresses this year, have made them more central to the construction of institutional investors’ portfolios,” said Salim Ramji, global head of iShares and index investments at BlackRock.“Accelerated institutional adoption is further recognition that ETFs are modernizing the bond markets by increasing overall transparency, improving liquidity and lowering trading costs,” Ramji said.Looking ahead, BlackRock expects fixed income ETF assets to top US$2 trillion by 2024, amid continued institutional interest.“Fixed income ETFs helped the credit markets operate better during times of market stress, including the unprecedented turmoil seen earlier this year,” said Carolyn Weinberg, global head of iShares product at BlackRock.“These ETFs contributed significantly to the financial ecosystem by providing additional liquidity and price discovery, relieving pressure from the underlying bond markets at a time when that was required,” she said. Related news checking stock market data on a mobile device solarseven/123RF Thematic funds thrived during pandemic, but watch long-term performance: report Facebook LinkedIn Twitterlast_img read more