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32-year-old computer scientist, earning $83,000 and tenant in downtown Toronto, dreams of a 'comfortable retirement'

32-year-old computer scientist, earning $83,000 and tenant in downtown Toronto, dreams of a ‘comfortable retirement’

iStockPhoto/Getty Images Paycheque Project is a non-judgmental look at how young adults in Canada spend their money. Name Age: John, 32 years old Annual revenue: $80,000 plus $3,200 secondary income Debt: $0 Savings: $45,330 in savings accounts; $37,100 in TFSA; $58,000 in RRSPs; $132,350 in investments What is he doing: computer professional Where he lives: …

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Elon Musk abandons Twitter's Covid misinformation policy

Elon Musk abandons Twitter’s Covid misinformation policy

Elon Musk’s tumultuous month at the top of Twitter has already included firing most of the company’s employees, tinkering with key features and restoring banned accounts. Now he’s embarking on what might be his riskiest bet yet: a war with Apple. The billionaire attacked the iPhone maker with a flurry of tweets on Monday, claiming …

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Support for winter energy bills will cost taxpayers £1,800 per household

Support for winter energy bills will cost taxpayers £1,800 per household

Ofgem raised the energy price cap this morning, meaning nothing for UK households in the short term but a lot for the Treasury. The price cap will rise to £4,279 from January, meaning the government will have to pay nearly £1,800 per house over the year after limiting household bills to £2,500 as part of …

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Record fall in household income wipes out a decade of growth

Record fall in household income wipes out a decade of growth

Welcome to Fall Statement Day. This morning, Chancellor Jeremy Hunt will announce the government’s financial plans, the first such financial statements made under President Rishi Sunak. Mr Hunt’s statement comes after inflation hit its highest level in 41 years, mainly due to rising gas and electricity bills. “We are not immune to these global headwinds, …

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Paris overtakes London as Europe's leading stock market

Paris overtakes London as Europe’s leading stock market

London was stripped of its crown as Europe’s biggest stock market after being overtaken by Paris as recession jitters hurt British stocks. The market value of shares in Paris has edged out London in dollar terms after erasing a $1.4 trillion (£1.2 trillion) gap since the Brexit vote, Bloomberg calculations have shown. The pound’s fall …

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FTX founder's $16 billion fortune wiped out as crypto exchange files for bankruptcy

FTX founder’s $16 billion fortune wiped out as crypto exchange files for bankruptcy

The bankruptcy filing came as the company, the world’s fifth-largest crypto exchange, was run by “a gang of kids in the Bahamas.” Mr Bankman-Fried reportedly ran the firm, which handled more than $600 billion in transactions this year, with nine friends who all lived together in a penthouse apartment at the Albany Resort, New Providence. …

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We warned Kwarteng of mini-budget chaos, says senior official

We warned Kwarteng of mini-budget chaos, says senior official

Former Chancellor Kwasi Kwarteng has been told his mini-budget could drive up borrowing costs, the head of the Debt Management Office has revealed. Sir Robert Stheeman told the Treasury Committee that officials in his department “were in close contact with colleagues and Treasury officials” ahead of the September 23 statement, warning that it was “likely …

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Markets watch 'a burst of light' as Rishi prepares to be prime minister

Markets watch ‘a burst of light’ as Rishi prepares to be prime minister

J The pound soared, government borrowing costs fell and a turbulent stock market regained some calm as markets welcomed signs of stability from the central government. With former chancellor Rishi Sunak on track to become the new prime minister, leading economic indicators have at least brought Armageddon prices to a halt after several weeks of …

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