Tag: money

Logo of the Toronto Maple Leafs
News Sports

Maple Leafs, Raptors, and TFC Sold

Some of Toronto’s most popular sports teams including the Maple Leafs, Raptors, and Toronto Football Club have new owners.

They have been bought for more than $1-billion by Rogers Communications and Bell Canada, two Canadian companies that sell phones and TV and internet services. Bell and Rogers also own the country’s two main sports-only channels, TSN and Sportsnet.

Barack Obama and Stephen Harper meeting, February 19, 2009: Image Pete Souza (White House)
News Politics

Harper And Obama Agree On A New Border Plan

Canada and the United States are working together to make it easier for people to travel across their common border.

This week, U.S. President Barack Obama and Canada’s Prime Minister, Stephen Harper, agreed to a “cross-border plan” to make it easier and quicker for Canadians to travel to the U.S. It will also help companies in both countries to do business together.

Harper has agreed to a “common perimeter”–a type of border all around North America–so more careful checking can be done on who and what comes across the borders from Canada. Canada has also agreed to get more information about people when they come into Canada from other countries and to put in American-style bomb detection machines for checking luggage.

Gap Between Rich-Poor Growing: OECD
News Politics

Gap Between Rich-Poor Growing: OECD

Canada’s rich people are getting richer and the country’s poor people are getting poorer.

That’s because the gap — or distance — between the amount of money the richest and poorest people earn at their jobs is widening.

The richest Canadians earn 10 times more than the poorest.

That means if the average rich person earns about $100,000 a year, the poorest earns only about $10,000 for a whole year.

A new report by an international organization called the OECD* said the same thing has been happening in many countries including the United States.

It has been happening since the 1990s, before the new millennium.

Canada's new polymer $100 note; Image: Published with permission from the Bank of Canada
Science Technology

New $100 Canadian Bill Has A Window

The Bank of Canada introduced a new $100 bill recently – and it has a window in it.

It’s Canada’s first “polymer” (a type of flexible plastic) bill.

The new $100 bill features a picture of Sir Robert Borden, who was the Prime Minister from 1911 and 1920.

The back of the bill celebrates innovation in medical research, including the Canadian discovery of insulin, which is used to treat diabetes.

Occupy Toronto Staying Put – For Now
Breaking News News

Occupy Toronto Staying Put – For Now

On Monday, the “Occupy Wall Street” protesters at Zuccotti Park in New York were evicted.

“Evicted” means made to leave. Anyone who didn’t leave the park was forcibly removed by the police.

The people in the park had been there for months. It was a peaceful protest against what they see as the gross differences in wealth between the “one per cent” of very wealthy people and everyone else (the “ninety-nine per cent”).

Zuccotti Park is owned by a company called Brookfield Properties. Brookfield had allowed the protesters to camp there since September.

Now that the protesters are gone, Brookfield is cleaning up the park. Brookfield said in a letter to New York’s mayor the park had become “unhealthy and unsafe.”

What’s Happening In Europe?
News Politics

What’s Happening In Europe?

A number of countries in Europe are having problems with their finances and their leaders.

This year, four prime ministers in Europe have quit their jobs or been forced out of office.

That’s because their countries have spent more money than they make and now they can’t pay their debts.

Some of the countries are making deals with other countries in Europe and the International Monetary Fund for a “bailout.”

A bailout is a loan to a country to keep it from going bankrupt.

The richer countries agree to put in more money to save the poorer countries.

Financial Crisis In Greece Affecting EU
Breaking News Politics

Financial Crisis In Greece Affecting EU

Greece is having a crisis over its money and its leaders. Greece’s crisis is affecting other countries in Europe.

Over time, Greece has borrowed a lot of money–more than it can pay back.

The European Union (EU) is a partnership of 27 countries including Greece.

The EU countries have been working together to come up with a plan to help Greece repay the money it owes.

If Greece can’t figure out a solution for its problems, it may go bankrupt or be forced out of the European Union.

Occupy Wall Street Heading To Toronto
News Politics

Occupy Wall Street Heading To Toronto

The “Occupy Wall Street” movement is heading for Toronto and 950 other cities around the world.

In September, a poster in Adbusters magazine called for people to gather in New York to protest against big companies that make a lot of profit.

Although the protest was rather vague and unfocussed, young people came – and they kept coming.

They met in the “financial district” in New York, NY. The financial district is where many big companies have their headquarters, and where many stockbrokers (people who trade stocks) work.

It’s where a lot of profit is made.

Wall Street is a famous street that defines New York’s financial district.

Image: Svilen.milev.
Lighter News

The 20 Richest People In The United States

Every year, Forbes magazine publishes a list of the 20 richest people in the United States.

This year, the 20 richest people are even richer than last year’s list. Together, they own $52 billion more than the top 20 did in 2010.

At the #20 spot on the list is the Mars family, the owners of the world’s largest candy company. Mars also makes Uncle Ben’s rice and Whiskas cat food.

The three family members have more than $13 billion each.

At #15 are the co-founders of Google (the company that owns the Internet search engine), Sergey Brin and Larry Page. They have $16 billion each.

Portugal Asks For Money To Help Pay Its Debts
News Politics

Portugal Asks For Money To Help Pay Its Debts

Last week, Portugal asked the European Union to help it pay its debts. They did it because they owe so much money – €80-billion, or more than $109-billion Canadian dollars. (€ is the symbol for euros, the money used in many countries in Europe.)

Portugal is the third country in Europe to ask for this kind of help recently. The first country was Greece and the second was Ireland.

All three country’s leaders have suffered for their decisions about their country’s money.