Pursue the common good, not allure of money, Pope tells finance students

.- Pope Francis told a group of students studying finance Thursday not to let themselves get taken in by the charm of money, but to instead work toward building a better future based on justice and the common good.

“It is essential that, until now and in your future professional life, you will learn to be free from the allure of money, from the slavery in which money closes those who worship it,” the Pope said Oct. 19.

It’s also essential that students “acquire the strength and the courage not to blindly obey the invisible hand of the market,” he said, and encouraged them to take advantage of their study time, learning “to become promoters and defenders of a growth in equity, to become craftsman of a just and adequate administration of our common home, which is the world.”

Pope Francis spoke to students enrolled in the Chartreux Institute of Lyon. Established in 1825, the school is a private Carthusian educational institution linked to the French state school system.

The institute takes students from grade school all the way through high school, and also offers courses in higher education, with a specialization in the fields of finance, business, and accounting.

In his speech, Pope Francis said he was glad to learn that alongside their education in finances, students also receive a solid foundation in “human, philosophical and spiritual” studies.

To take courses in Rome, he said, allows the students to be immersed in the history

Article source: http://world.einnews.com/article/410704774/HYy1ngyUCfKV_2Rm?ref=rss&ecode=dYZEnKEuqPQMTccj

Judge Won’t Unfreeze Bail Money for Jailed ‘Pharma Bro’

The Brooklyn judge who revoked pharmaceutical executive Martin Shkreli’s $5 million bail and put him in jail refused Thursday to free up the money that secured his bond.

U.S. District Judge Kiyo Matsumoto said Shkreli’s eTrade account should remain tied up until the court determines whether he needs to pay a fine, restitution or monetary penalty. And she ordered prosecutors and the defense to discuss whether there will be a forfeiture proceeding.

Image: Martin Shkreli

Image: Martin Shkreli

Shkreli — who earned the nickname “Pharma Bro” for his cavalier response to criticism over price hikes for a lifesaving drug — was convicted of security

Article source: http://world.einnews.com/article/410704969/cmwS7KfY6RlzGHzY?ref=rss&ecode=dYZEnKEuqPQMTccj

Thunder costing fans more money, time this season

OKLAHOMA CITY – The Oklahoma City Thunder is hosting its regular season home opener Thursday night.

And, the team is bringing back a tradition – all fans attending the game will get a free T-shirt.

Plenty of fans were already in the Thunder Shop, buying gear for Thursday.

But, they’ll have to pay more for tickets this season.

A new law is tacking $1 on tickets under $50. Any price over that will cost $2.

Another thing fans will face is construction.

Team officials don’t believe it will have an affect on folks coming to the game. The team recommends fans to download its free app, where you’ll find best routes to take and parking.

Article source: http://world.einnews.com/article/410707281/fF1Rwd5682cyyK-6?ref=rss&ecode=dYZEnKEuqPQMTccj

Hard-working college athetes deserve to earn money

People who follow the sports world, especially in college sports, know the topic of college athletes making money and how discussed it is.

It is understandable to not want students making money because they “work” for your business, but there are young entrepreneurs who have their own companies or YouTube channels for profit.

I agree student-athletes shouldn’t make any money from autographs or picture- taking appearances because they didn’t work to create anything. They just show up to get paid.

Entrepreneurs are creating clothing or logos building a future for themselves after their lock-up with the NCAA. YouTube content creators make videos that appeal to an audience and must create quality to gain views. Sometimes they make it big enough to gain money per view on a video.

Hard-working kids get the same restrictions as greedy athletes who are there for the money and not a good time.

Evan Snyder, Fresno

Article source: http://world.einnews.com/article/410708940/2gr4oxocD69qKKyR?ref=rss&ecode=dYZEnKEuqPQMTccj

Looking for a used vehicle? Study lists top 10 parishes where you can save money

Looking for a used vehicle? Here are 10 of the most affordable places to buy based on a study conducted by Autolist.com. The study analyzed hundreds of thousands of Louisiana vehicles in the company’s database to determine the average amount consumers could save on comparable vehicles elsewhere in Louisiana.  

Among other states, Louisiana ranked No.28 as the most affordable state in the U.S. to purchase a used vehicle, according to Alex Klein, Autolist’s vice president of data science. Louisiana buyers spent on average $278 more for a used vehicle than in other states, according to the study. The average used vehicle price in Louisiana was $18,297, Klein said.

(AP Photo/Steve Helber)

Article source: http://world.einnews.com/article/410709527/cmXJy-olNY9YxLVF?ref=rss&ecode=dYZEnKEuqPQMTccj

What does a university education cost in Canada?


© Used with permission of / © Rogers Media Inc. 2017.

University is expensive. Students get that, but how expensive, exactly?  When it comes to comparison shopping between schools, tuition is the easiest number to consider. But for many students—particularly those who move away from home—school fees are only a fraction of the overall price tag.

MORE: Create a custom university ranking based on what’s most important to you

To determine the real price of an education in Canada, Maclean’s undertook a first-ever survey of 23,384 undergraduate students to find out how they spend their money—and how they saved for an education. We found the average cost of a year of post-secondary education in Canada is $19,498.75. But for some students, the amount is significantly higher.

A University of Toronto student living off campus can expect to spend $23,485 each year, the highest average amount in our survey. Second on list was Ryerson at $23,066 followed by Saint Mary’s University in Halifax at $22,892. Meanwhile, students living at home and attending Sherbrooke had the lowest costs for an education, at just $4,284.

MORE: Ranking universities by the price tag for off-campus students  

In most cases, rent is a bigger expense, but there are other costs to consider: books, booze, extracurriculars and groceries. There are also bus or plane tickets to visit Mom and Dad. Some of these costs seem insignificant, but

Article source: http://www.msn.com/en-ca/money/careersandeducation/what-does-a-university-education-cost-in-canada/ar-AAtInMd?srcref=rss

How to plan through salary swings

Click here to see more personal finance questions answered.

© Used with permission of / © Rogers Media Inc. 2017.
Click here to see more personal finance questions answered.

Q: My income fluctuates quite widely from year to year. How do I plan for this and how do I handle the tax implications of such income swings?


A: Yours is the challenge of many a commissioned salesperson or business owner, David. The thought of a stable salary and defined benefit pension plan may be appealing to some, but others, like you – and me – prefer a little more control over destiny. That control doesn’t always mean stability, however.

For starters, I think everyone should have a reserve or emergency fund, particularly those whose jobs are riskier or whose income is variable. An emergency fund doesn’t necessarily mean having six months of expenses sitting in a savings account earning pennies in interest. It could mean a healthy TFSA balance that includes an allocation of conservative, liquid investments. It could mean a secured line of credit available with a low interest rate.

Ask a Planner: Leave your question for Jason Heath »

Having tens of thousands of dollars sitting idle for your whole life may be comforting, but it could usually be put to better use invested in an RRSP or TFSA or used to pay down debt.

So, the concept of an emergency fund, David, can

Article source: http://www.msn.com/en-ca/money/savingandinvesting/planning-through-salary-swings/ar-AAtGHem?srcref=rss

If NAFTA dies, does old Canada-U.S. FTA live?

© Getty

WASHINGTON – It’s a refrain frequently heard in Canada: That ending NAFTA wouldn’t change much in economic relations with the United States, because the countries could simply pull their older agreement off the shelf, dust it off, and persist in trade without tariffs.

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It’s also wrong, some analysts say.

A few people interviewed this week disputed the idea that the original Canada-U.S. Free Trade Agreement of 1987 would automatically snap back into place if NAFTA disappears, an increasingly relevant topic as hostilities mount in the trilateral trade talks.

“That’s so naive,” said Sarah Goldfeder, a former U.S. diplomat in Mexico and Canada who is following the trade negotiations at Earnscliffe Strategy Group in Ottawa, on the idea of an automatic snap-back.

“You’d have to re-implement (the original agreement).”

That would raise new challenges, she said. First of all, she said the current American political climate would not make for an easy re-implementation. She said there would be demands for a renegotiation within the U.S., and the parties would soon be back at the table struggling with many of the same sticking points.

“There’s no way this (Trump) administration would do this (re-implementation) without negotiating a new agreement,” she said.

“So you’re still going to have to negotiate all the same irritants.”

The current talks have become bogged down amid huge gaps between

Article source: http://www.msn.com/en-ca/money/topstories/if-nafta-dies-does-old-canada-us-fta-live/ar-AAtI2er?srcref=rss

No tax incentives for Amazon headquarters in Calgary

A day before Calgary submits its bid to lure tech giant Amazon to open new headquarters here, an official leading the effort said the city is not interested in “borrowing a company’s loyalty,” but will offer some sweeteners.

The Calgary bid will have no tax incentives — the city is limited by legislation on what it can offer — but the local bid committee won’t disclose whether it’s offering up real estate, according to Mary Moran, head of Calgary Economic Development.

More than 100 North American cities have mused about submitting bids to secure the economic windfall of having Amazon spend $5 billion and create up to 50,000 jobs for its second North American headquarters, dubbed HQ2. Bids are due Thursday.

“This kind of opportunity comes once in a lifetime,” Moran said, noting the bid has drawn support from more than 100 local businesses.

In its 200-page proposal, Calgary pitches the advantages of coming to Canada in general, including up to $600 million in annual savings from not having to pay private health-care premiums.

It also looks at Calgary’s own assets. In total, the bid suggests Amazon’s costs, such as labour, electricity and taxes, would be 14 per cent lower in Calgary than in Seattle, the home of the online retail giant, Moran said.

The city could also leverage funds from a community revitalization levy collected in a swath of east downtown, if Amazon was interested in moving its headquarters to the area.

Just as the city used the levy — which siphons a portion of property

Article source: http://www.msn.com/en-ca/money/topstories/calgary-offers-amazon-sweeteners-for-headquarters-but-no-tax-incentives/ar-AAtHoEb?srcref=rss

Sears managers, execs will still pocket big cash bonuses

Sears Canada will pay a final $2.8 million in retention bonuses to 36 head office staff, even though the retailer’s restructuring efforts failed and the company is closing its doors.

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Promised bonuses were only supposed to be paid in full if the company found a way to survive. However, Sears got court approval on Wednesday to continue paying retention bonuses to key staff such as executives and managers who will now steer the retailer through the wind-down and liquidation process. 

In total, Sears will end up paying up to $6.5-million in bonus payments to head office staff from the time it filed for insolvency in June until it closes for good.

Meanwhile, more than 16,000 employees have recently lost or will soon lose their jobs without receiving any severance, and many of them will likely collect reduced pensions. 

Former Sears worker Mina Iannino at Ontario Superior Court, where Sears got permission to amend its retention bonus plan.© CBC
Former Sears worker Mina Iannino at Ontario Superior Court, where Sears got permission to amend its retention bonus plan.
Former Sears worker Jennifer Holder says the employee retention bonus plan 'baffles the mind.'© CBC
Former Sears worker Jennifer Holder says the employee retention bonus plan ‘baffles the mind.’

“Can I use the F-word?” said

Article source: http://www.msn.com/en-ca/money/topstories/sears-managers-execs-will-still-pocket-big-cash-bonuses-even-though-retailer-is-closing/ar-AAtIyoE?srcref=rss