By Lesley-Anne Scorgie Personal Finance Columnist Mon., March 11, 2019 We moved into our new home on Feb. 27, 2019, the day that Toronto had one of its worst blizzards in decades. The process was long, arduous, and amplified our costs by an additional $450 because we paid for the movers by the hour, and the hours dragged on and on due to the snowfall. About 24 hours later, our car didn’t start due to an unexpected corroded cable in our engine (repairs added up to $350), and we found out the electrical fixtures in our spare room and the main hanging light fixture in our dining room were non-functional due to old wiring (electrician’s fees totalled $500). We dipped into our emergency funds to cover these costs. Also known as rainy day money, this kind of fund is for the unexpected expenses that creep up from time to time. These include job loss, medical bills that fall outside of insurance, a sewage line that backs up in your house, a death in the … [Read more...] about When it rains it pours — that’s why emergency funds are critical
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(Reuters Health) - The availability of helicopter ambulance service varies widely across different European countries, a recent study suggests.This inconsistency could lead to greater inequity in access to healthcare, the authors write in the Emergency Medicine Journal."These services are variable in so many ways in terms of geographic coverage and population coverage," said senior study author Dr. Jan Jansen of the University of Alabama at Birmingham's Center for Injury Sciences."This isn't a problem confined to Europe," he told Reuters Health in a phone interview. "We're starting to look at the details here in the U.S. to understand the whole story of emergency medical services coverage."Jansen, along with colleagues in the UK, surveyed the primary helicopter emergency medical services (HEMS) in the 28 countries of the European Union as well as Iceland, Lichtenstein, Norway and Switzerland. They gathered data on the types of helicopters used by services in each country, the locations … [Read more...] about Helicopter emergency medical services uneven across Europe
caption Traders are keen to take advantage of the crypto arbitrage trade. source Peter Macdiarmid/Getty Images Cryptocurrencies can have price differences of up to 5% across different exchanges, making them ripe for arbitrage. US startup Arbitraj has developed price comparison tools and is working on a trading tool to take advantage of the spreads. Cofounder Jason Flack says hedge funds have approached him about using the tools. A small US startup is working on a set of tools to take advantage of the arbitrage opportunity offered between cryptocurrency exchanges, highlighting not only the immature nature of the sector but also the opportunity to make big money in the emerging space. Arbitraj LLC has built a tool to allow people to compare price spreads of cryptocurrency exchanges and is working on a trading tool to take advantage of them. The early-stage company, whose staff still … [Read more...] about A small startup is developing a tool to make money from ‘insane’ cryptocurrency spreads — and hedge funds are interested
SHANGHAI: In the investment world, indexes compiled by MSCI are often what professional investors compare their own performances to, so when the company decided to include mainland China-listed shares into its benchmarks, fund managers around the world listened.Come Jun 1, 234 Chinese A-share companies will debut in a whole suite of MSCI benchmarks. They include Kweichow Moutai, a liquor company whose hugely popular booze has made it the world’s most valuable distiller.Unlike overseas-listed Tencent or Alibaba- names that foreign investors are already familiar with - the 234 firms are traded in Shanghai or Shenzhen, priced in Chinese yuan, and subject only to mainland Chinese regulation. According to HSBC, a vast majority of these firms do not even put out press releases in English.While foreign fund managers have had access to the A-share market for a long time, a very small percentage of them actually trade in those companies right now. With this inclusion, that could soon … [Read more...] about MSCI inducts a sliver of China into benchmarks, but can foreign funds calm volatile Chinese markets?
LONDON: A resurgent dollar and higher borrowing costs are smashing through Argentina and Turkey's currencies like a wrecking ball and raising the likelihood more broadly that emerging markets' three-year long interest rate cutting cycle is at an end.Emerging markets came into the year flying, riding on the back of a healthy global economy and rising commodity prices alongside tame inflation and a weak dollar. It looked more than likely that a wave of rate cuts would keep rolling, allowing a bond rally to continue.From Brazil and Russia to Armenia and Zambia, developing countries, big and small, have been on a rate cutting spree. With hundreds of rate cuts since Jan. 2015, the average emerging market borrowing cost fell under 6 percent earlier this year from over 7 percent at the time.Fund managers' profits too have soared in this time, with emerging local currency debt among the best performing asset classes, with dollar-based returns of 14 percent last year. Even in the first quarter … [Read more...] about Dollar surge bringing emerging market rate cut cycle to a halt