Night out on the books for Waterstone’s fans

first_imgSunday 26 October 2014 11:57 pm Share Express KCS whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoElvenarAdvertisement If You Like to Play, this Fantasy Game is a Must-Have. No Install.ElvenarUndo whatsappcenter_img A WEEK after American tourist Dave Will, of Texas, was trapped after hours in Waterstone’s book shop in Trafalgar Square and turned to Twitter for help, the chain partnered with Airbnb on Saturday night to host a sleepover for 10 bookworms and their friends.Responding innovatively to the Twitter sensation, the major chain tapped into the publicity to host a real sleepover with Airbnb, complete with a special after-hours tour of the eight-level shop. There were airbeds and dainty unicorn slippers, as well as a talk by psychologist and sleep specialist Richard Wiseman on how to get a good night’s sleep. And to cure the midnight munchies there were snacks as well as breakfast; and access to the shop’s 150,000 titles. Did anyone suggest trying to read Tolstoy’s War and Peace or Russell Brand’s Revolution? Perhaps not.Applicants were asked to name the book they’d read if they were locked inside a book shop all night and winners were chosen from the top 10 answers. Lucky bookworms. Night out on the books for Waterstone’s fans Tags: NULL Show Comments ▼ More From Our Partners Puffer fish snaps a selfie with lucky divernypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orglast_img read more

Government to begin selling remaining Royal Mail stake for £767m

first_img whatsapp Government to begin selling remaining Royal Mail stake for £767m The government is to begin selling off its final 30 per cent stake in in the Royal Mail in the next few days, after George Osborne announced the sale last week. Read more: Osborne must put taxpayer value over a rapid privatisation The sell-off, of 15 per cent of the business, is expected to raise £767m for the government. The shares are likely to be priced tomorrow, while the settlement date will be on 15 June. “The business secretary has today authorised a sale process to begin. Current market conditions represent a good opportunity to achieve value for the taxpayer,” a Department for Business spokesperson said.”The universal service is strongly protected by law and Ofcom has a duty to ensure its provision. Therefore the Government sees no policy reason to retain a stake in Royal Mail.”Chancellor George Osborne has previously said the government has appointed Rothschild to advise the Department for Business, Innovation and Skills on the sale of its remaining 30 per cent stake in Royal Mail.”It is the right thing to do for the Royal Mail, the businesses and families who depend on it – and crucially for the taxpayer,” Osborne said at the time.Shares in the business were first floated back in October 2013 at 330p – but they last closed at around 516p. Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment Guruzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveLivestlyThe Best Redhead Actresses, RankedLivestlyTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmNovelodgePierce Brosnan’s Wife Lost 120 Pounds – This Is Her NowNovelodge Wednesday 10 June 2015 11:51 am Jessica Morris Share Tags: Company Royal Maillast_img read more

Collier County deputies collect bikes, toys for abandoned children

first_imgAdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementTags: Collier County Sheriff’s Officedonations RELATEDTOPICS Deputies investigate overnight shooting in Golden Gate June 10, 2021 Woman shot outside Naples Waffle House June 16, 2021 Missing Collier teen seen with man at Fort Myers Publix June 11, 2021 Advertisementcenter_img Advertisement“While the majority of the drive was done virtually, an office at CCSO headquarters was at one point filled with several bicycles and additional toys for additional GAL clients,” CCSO said in a Facebook post Monday.These holiday gifts were given to children by volunteer advocates that were assigned to each child.Deputies also partnered with Esplanade at Hacienda Lakes, a neighborhood in Naples, where residents got to fill over two large boxes with toys. AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments COLLIER COUNTY, Fla. – Collier County deputies helped collect several bicycles and toys for abandoned and abused children.According to the Collier County Sheriff’s Office, members of the community also took part in the 15th annual “Celebrate With A Star” wish lists were filled for children assigned to the Guardian ad Litem – 20th Circuit program. Over 200 children in Collier County have been abused, neglected or abandoned, deputies said.Guardian ad Litem volunteers help advocate for these kids in courts and through the child welfare system. Collier school resource officers teach kids how to fish on first day of “Summerfest” June 16, 2021 Advertisementlast_img read more

Southwest Florida coronavirus case totals for Wednesday, May 5

first_imgSouthwest Florida coronavirus case totals for Tuesday, June 1 June 2, 2021 Southwest Florida coronavirus case totals for Thursday, June 3 June 4, 2021 AdvertisementTags: Covid daily totals Advertisement Southwest Florida coronavirus case totals for Wednesday, June 2 June 3, 2021 Southwest Florida coronavirus case totals for Friday, May 28 May 31, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Data per the Florida Department of Health as of Wednesday, May 5. Additional case data compares to the previous update.TOTAL CASES IN FLORIDA: 2,253,929 (+4,394)TOTAL DEATHS IN FLORIDA: 36,184 (+82)  TOTAL IN SOUTHWEST FLORIDA: 128,896 (+332)LEE COUNTY – 70,340 (+195) | 970 (+11)COLLIER COUNTY – 35,725 (+100) | 531 (+1)CHARLOTTE COUNTY –12,836 (+21) | 418 (+0)HENDRY COUNTY – 4,717  (+4) | 83 (+1)DESOTO COUNTY – 4,324 4,314 (+10) | 93 (+0)GLADES COUNTY – 954 (+2) | 19 (+0) RELATEDTOPICS Advertisement AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 commentslast_img read more

Feile update: Four Laois hurling and camogie teams in hunt for All-Ireland

first_img TAGSFeile CamogieFeile hurling WhatsApp Facebook Home GAA Camogie Feile update: Four Laois hurling and camogie teams in hunt for All-Ireland GAACamogieSportHurling Hurling and camogie feile Five Laois hurling and camogie teams headed West on Friday for the All-Ireland hurling and camogie Feile finals.And as we head for the semi finals and finals tomorrow, four of them are still standing.Ballinakill and Na Fianna progressed to the last four in their respective hurling Divisions while so too did The Harps and O’Moore’s in the camogie. RELATED ARTICLESMORE FROM AUTHOR Previous articleLaois hurlers secure Joe McDonagh Cup status thanks to big win over MeathNext articleDeaths in Laois – Sunday, June 10, 2018 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. By Alan Hartnett – 9th June 2018 WhatsApp Ten Laois based players named on Leinster rugby U-18 girls squad Pinterest Facebook Five Laois monuments to receive almost €200,000 in government funding Feile update: Four Laois hurling and camogie teams in hunt for All-Ireland Twitter Twitter The only casualty from those that started was Castletown-Slieve Bloom who went out in the Division 2 cup quarter final this afternoon.Here is a run down on how each team has got on so far:Castletown-Slieve Bloom – HurlingDivision 2Castletown-Slieve Bloom represented Laois in Division 2 of the Feile after defeating neighbours Camross in the Laois ‘A’ Feile final in April.They were placed in Group B and were on Friday evening in Galway.The Laois lads edged out Ballinasloe by a point but then went down by the same margin to Portaferry. Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ This meant in order to qualify for the cup section, they had to defeat Clare side Eire Og Ennis – which they did comprehensively.Castletown-SLieve Bloom advanced to the cup quarter final where their journey came to an end at the hands of Ballinascreen.Round 1: Castletown-Slieve-Bloom 1-5 Ballinasloe 0-7Round 2: Castletown-Slieve Bloom 2-4 Portaferry 2-5Round 3: Castletown-Slieve Bloom 6-7 Eire Og Ennis 3-3Cup Q/F: Castletown-Slieve Bloom 0-2 Ballinascreen 0-9Ballinakill – HurlingDivision 4 Ballinakill took on the forces of Galway and Armagh as they competed in Group D of the Division 4 Feile on Friday and Saturday.And they put themselves in a wonderful position following two comprehensive wins on Friday against Galway side Mountbellew and Armagh’s Ceide Lamh Dhearg.A win over Meelick-Eyrecourt saw them finish top of their group this morning and advance to play Clonkill of Westmeath in the last eight.They had seven points to spare and will now go on to face Rahoon-Newcastle of Galway at 12.15pm on Sunday in the Connacht GAA centre of Excellence.Round 1: Ballinakill 1-6 Mountbellew 0-7Round 2: Ballinakill 2-11 Ceide Lamh Dhearg 1-3Round 3: Ballinakill 2-9 Meelick-Eyrecourt 2-3Cup Q/F: Ballinakill 1-7 Clonkill 0-3Na Fianna – HurlingDivision 7Na Fianna are an amalgamation of Mountmellick and Ballyfin at juvenile level and they are at the Feile despite not winning either Laois edition.They were invited to go and competed in Group A of Division 7.This was reduced to a three team group after Tuam pulled out and Na Fianna began with a loss to Padraig Pearses.They had to defeat Antrim side Naomh Padraig in their last group game to advance to the cup quarter finals and they duly did so.This set up a last eight clash this evening with another Galway side, Killimor, where Na Fianna romped to a 12 point win.They will now face Clara in the semi final at 1.45pm in Kiltormer on Sunday.Round 1: Na Fianna 1-1 Padraig Pearses 0-6Round 2: Na Fianna 1-8 Naomh Padraig 2-2Cup Q/F: Na Fianna 3-5 Killimor 0-2The Harps – CamogieDivision 3The Harps broke a 16 year spell as they were crowned Laois ‘A’ winners of the Feile for the first time since 2002.The girls were placed in Group A of Division 3 of the competition and are being hosted by Ahascragh Caltra of Galway.And things have gone very well for The Harps as they have won all four of their games, with Lucy O’Connor starring – scoring 11-11 over the course of the matches.Friday began with two comprehensive wins over Galway side Kiltormer and Tipperary outfit Roscrea.The Harps topped the group after a narrow win in their final game this morning and then absolutely thumped Galway side Killimordaly to reach the semi final.The time, venue or their opponents are not yet known.Round 1: The Harps 8-4 Kiltormer 0-1Round 2: The Harps 5-5 Roscrea 0-1Round 3: The Harps 1-3 Ahascragh 0-2Cup Q/F: The Harps 3-6 Killimordaly 0-1O’Moore’s – CamogieDivision 4The O’Moore’s girls have ventured to Portumna after winning the ‘B’ competition in Laois and were placed in Group D.They began on Friday evening with two wins over Clare and Offaly teams and that set up a top of the table clash with Galway side Portumna on Saturday morning.The girls went down by four points but still progressed to the cup quarter final against Ballinasloe.After a tight encounter, O’Moore’s prevailed and they will now play St Malachy’s Castledawson of Derry Sunday morning in the Connacht GAA Centre of Excellence.Round 1: O’Moore’s 3-6 Crusheen 2-2Round 2: O’Moore’s 0-5 St Ryanagh’s 0-2Round 3: O’Moore’s 1-2 Portumna 3-0Cup Q/F: O’Moore’s 2-3 Ballinasloe 1-1SEE ALSO – 17 ways you’ll realise summer has arrived in Laois Rugby Community Community Pinterestlast_img read more

Integral Wealth expands in B.C.

Facebook LinkedIn Twitter Share this article and your comments with peers on social media James Langton Related news Leede Jones Gable launches capital markets business PI Financial bought by joint venture The consolidation of small, independent investment dealers is continuing with Vancouver-based Sora Group Wealth Advisors Inc. selling out to another independent firm, Toronto-based Integral Wealth Securities Ltd. In a notice Tuesday, the Investment Industry Regulatory Organization of Canada (IIROC) indicates that Sora Group intends to resign its membership in the self-regulatory organization, and that the resignation process has started. Last week, Integral Wealth Securities announced that it had acquired Sora Group’s branches. As a result, four advisors that collectively administer approximately $250 million in client assets will be joining Integral. The branches are located in Vancouver and Sydney, B.C. “In terms of practice style, culture and location the Sora teams are an excellent fit for us and vice versa, so it’s a positive development for all concerned. Supporting these teams and helping them further build out their established practices aligns well with our capabilities. Given the deep linkages across the west, we also expect our expanded B.C. footprint should, over time, generate revenue synergies with our Alberta operations based in Calgary,” said John Gibson, Integral’s CEO, in a statement announcing the deal. “Independent investment dealers face some of the most challenging operating conditions seen in a generation, forcing all firms to take a hard look at the sustainability of their business model,” Gibson said. “This transaction is another in an emerging industry trend of consolidation. Sora’s management concluded that their shareholders, advisors and clients would be best served by migrating their advisors to Integral’s stable operating platform.” Ontario task force looks to boost industry competition Keywords Investment dealersCompanies Integral Wealth Management Inc. read more

Slow global economic activity leaves industry outlooks unchanged: Moody’s

OECD raises outlook for Canadian economic growth this year “With supply-related investments tempered by economic uncertainty and relatively high unemployment and low income growth suppressing demand, there is little impetus for change,” says Moody’s managing director, Mark Gray, the report’s co-author. “During the second quarter, we changed our industry outlooks for just two sectors among the 57 we track worldwide, while about two-thirds of all non-financial corporate sector outlooks remained stable.” Moody’s reports that it did change its outlook for the U.S. lodging and cruise industry to positive from stable in the most recent quarter; but, it says, this reflects the sector’s reluctance to build new hotel rooms, rather than any real improvement in business conditions. Additionally, its outlook for the European tobacco industry went to stable from positive due to slowing profits amid tight consumer spending and a growing challenge from e-cigarettes. “The roster of positive and negative industry outlooks demonstrates offsetting trends with no macroeconomic correction on the horizon,” Gray says. “Our outlook for the U.S. newspaper sector, for example, will continue to be negative as the industry struggles with the ever-increasing digitization of information, but that very phenomenon contributes to the growth we see in the U.S. wireless sector.” “In general, the stability we have seen since mid-2012 reflects a period of economic stasis, rather than comfort,” Gray says. “Still, today’s apparent calm continues to indicate a certain macroeconomic foreboding, even as European jitters ease and the U.S. housing market continues to spearhead the recovery there.” James Langton Related news Share this article and your comments with peers on social media Economy lost 68,000 jobs in May Keywords Economic forecasts Stagflation is U.S. economists’ biggest fear, SIFMA says Continued slow economic growth in developed countries, and slowing growth in key emerging markets, will keep the credit outlook of most corporate sectors unchanged over the next 12-18 months, says Moody’s Investors Service. The rating agency reports that for the first time since it began tracking outlooks for business conditions among non-financial corporate industries, it saw no net changes in its roster of positive, stable and negative industry outlooks during the second quarter of 2013. Facebook LinkedIn Twitter read more

Signs of inflation and deflation

first_img Gold still lacks lustre Share this article and your comments with peers on social media Central banks look like they have tamed both the inflation tiger and the deflation risk. But that’s in an environment in which there has been sufficient growth to preclude a general drop in prices, yet not enough growth to get wages and, thus, prices moving up strongly. Whether a benign environment will continue is not certain. The plunge in oil prices made last year an anomaly from both an inflation and a growth perspective. Reported inflation plunged due to lower gasoline and heating/cooling costs while those lower costs acted like a tax break for consumers and a price increase for businesses, thereby stimulating growth. Weak growth a drag on bank profits Questions hang over oil prices Catherine Harris Facebook LinkedIn Twitter Outlook 2016: Not a barnburner Asia-Pacific a bright spot But that was a one-time event. Even if oil prices stay at current levels, consumers and businesses won’t be better off than they were last year. And if prices start to creep up, as most global strategists interviewed for this report expect, there would probably be some negative impact on both retail sales and profit margins, particularly as reported inflation will increase, which could lead to higher wage demands. We are in a strange period because there are both inflation and deflation risks, says Stephen Lingard, director of research at Franklin Templeton Investments Corp. in Toronto. “The drop in oil and other commodity prices is deflationary,” Lingard says. “But, for the first time in a while, it looks like inflation could gain some traction.” Peter O’Reilly, global money manager with I.G. Investment Management Ltd. in Dublin, puts it another way: if there is a big rally in oil prices, that will feed through to inflation. But there also is significant excess capacity in various industries, which could lead to price declines. Certainly, some strategists think there could be wage pressure in the U.S. Craig Basinger, chief investment officer with Richardson GMP Ltd. in Toronto, points out the Arkansas-based Wal-Mart Stores Inc. has raised its minimum wage. However, most global strategists don’t think growth will be strong enough in the U.S. for an upward wage/price spiral to develop. Growth is expected to stay moderate, especially with interest rates now rising. Nor is there any doubt that the U.S. Federal Reserve Board would quickly push interest rates higher if there were any sign of significant inflationary pressure from wages. Strategists are more concerned about the deflation risk in Europe and Japan. Neither is growing strongly, and they are growing at all only because of quantitative easing. With aging populations, both have an underlying sluggishness and fragility that is fertile ground for prices to move down if consumer demand falters. And once prices generally start moving down, the declines gather momentum. There are also concerns about deflation in emerging economies. A number of key economies, such as Brazil and Russia, are in recession and the declines in consumer spending could lead to deflation. There are even concerns about China if consumer spending is weak enough to result in declining prices. Related news Keywords Inflation,  Outlook 2016 last_img read more

Investors more confident in mutual funds, discerning of fees

first_img CIBC to introduce fixed administration fees for certain investment funds Keywords Mutual funds,  Client relationship modelCompanies Investment Funds Institute of Canada Related news Mutual fund sales outpace ETF sales in March Share this article and your comments with peers on social media Pablo Fuchs Fiera sells rights to manage US$1.9B emerging markets fund “It’s notable that investor confidence [in mutual funds] is reaching such heights while we are also finding that mutual fund investors are significantly more aware of [the second phase of the client relationship model (CRM2)],” said Craig Worden, president of Pollara, in a statement.Specifically, 65% of the 1,000 mutual fund investors surveyed, from June 11 through July 6, said they are aware of the changes requiring the inclusion of more cost and performance disclosure in their mutual fund statements. That’s up significantly from 41% last year, when the disclosure requirements came into effect.But while Canadian investors are more aware of these changes, the percentage of investors who said the information in their mutual fund statements is easy to understand dropped to 72% this year from 82% in 2017. Similarly, the percentage of investors who said that their mutual fund statements provide them with all the information they need dropped to 74% from 82%.Also readThe debate over CRM3CRM2 causing frustration Although there was a slight improvement from last year among investors who said these statements “clearly show the fees I pay to my advisor’s firm or dealer firm,” this metric remains low overall — at 53% vs 50%.“While many of these results were encouraging, some important ones remained low, and some are moving in the wrong direction,” said Paul Bourque, president of IFIC, at the organization’s annual leadership conference in Toronto on Thursday.“These results underscore how important it is for us to continue to focus our energies on improving disclosure effectiveness,” Bourque stated separately in a news release.Still, investors’ confidence in the knowledge they have regarding the fees they pay on their mutual funds remains solid, at 72%. Although this metric is up from 66% last year, it’s in line with the average for the other years in this decade. As well, 59% of investors with financial advisors prefer that their advisor is paid through mutual funds fees, which is up from 53% last year.Another notable finding of this year’s survey is that investors said they’re having fewer general conversations about fees and commissions, at 58% this year vs 64% in 2017. In contrast, specific conversations about the fees paid to advisors’ firms, and management expense ratios, have increased since the introduction of CRM2. In fact, 58% of investors said they discussed the fees paid to advisors’ firms this year, up from 52% last year. In addition, 59% of investors said they discussed MERs with their advisors this year, up from 56% last year.“It does seem to us that investors are becoming more discerning and more knowledgeable about the types of payments they make than in the past,” Worden said at the IFIC event. “Now, because of CRM2, they’re beginning to know and realize that there are very specific types of payments.”The survey also found that 85% of investors who purchase mutual funds do so through an advisor. And 95% of those investors reported some level of satisfaction with the advice they receive from their advisor, while 84% said the advice provided by their advisor is worth the fees. Still, only 37% of those who said their advisors are worth the fees said they “strongly agree” with the statement, while 47% said they “somewhat agree.”The reason? More than three-quarters (78%) of investors surveyed reported that they have better saving and investment habits because of their advisors. In fact, 76% have used at least one of the three advisor services — investment planning, financial planning and retirement planning — during the past year. Investors’ confidence in mutual funds is at an all-time high, even as they’re becoming more aware of disclosure requirements and more discerning of the fees they pay for holding these products, according to the 2018 edition of the Canadian Mutual Fund Investor Survey, conducted by Pollara Strategic Insights on behalf of the Investment Funds Institute of Canada (IFIC).This year’s edition of the survey found that 89% of investors believe mutual funds will help them reach their financial goals. That’s the highest percentage in the 13-year history of the survey, up from 85% in 2017 and from the all-time low of 74% in 2009 following the global financial crisis. In contrast, only 33% of these investors have confidence that ETFs will help them meet their financial goals, down from 37% last year. Facebook LinkedIn Twitter happy young couple discussing with a financial agent rido/123RFlast_img read more

Pandemic points to money market vulnerabilities: IOSCO

first_imgforeign country with stock market data alexsl/iStock Related news The report found market conditions in March affected the functioning of the short-term funding markets and “led to significant strains in the MMF sector, raising questions about its resilience.”Rising cash needs and a “flight to safety” among investors drove many of the market effects, but the effects “varied considerably” by fund type, structure and currency, IOSCO said.“Outflows from MMFs holding primarily non-public, mostly [U.S.-dollar] debt were significant,” the organization found. “In contrast, the market saw historic inflows into MMFs holding primarily U.S. government instruments.”Other factors that may have driven outflows included “the need to meet increased margin calls, collateral management and general business expenses,” the report stated.“In particular, redemption requests by non-financial corporates may have been significant, because many other sources of revenue dried up as a result of the crisis,” it said.The review also concluded that interventions by central banks, as well as securities and prudential regulators, “helped ease the financial strains.”The episode also exposed “continuing vulnerabilities” in certain types of non-public funds and the need for further reform, IOSCO said.Areas of possible future reform include “the broader ecosystem and the functioning of the money markets, the behaviour of MMF investors and elements of regulatory frameworks that may have played a role in accelerating flows out of certain types of non-public MMFs.”Recently, Fitch Ratings suggested that regulators may try to enact post-pandemic reforms designed to facilitate money market liquidity, including measures targeting securities dealers.IOSCO also published a review of recommendations made in 2012 to strengthen the resilience of MMFs and found that “participating jurisdictions have generally implemented” reforms in line with those recommendations. Keywords Pandemics,  Coronavirus,  Money market funds,  Regulatory reformCompanies Fitch Ratings, International Organization of Securities Commissions Regulators must avert looming irrelevance: IAP James Langton Share this article and your comments with peers on social media Facebook LinkedIn Twitter OSC seeks market structure expertise The Covid-19 crisis has exposed cracks in financial market architecture and highlighted new areas for reform, says the International Organization of Securities Commissions (IOSCO).The group of global securities regulators published a report analyzing the the moneymarket fund (MMF) sector during the market turmoil that emerged with the onset of the pandemic in March. MFDA seeks to speed up account transferslast_img read more