Tag: finance department

Here Are 5 Things You Should Never Spend Money on If You Want To Be Rich

Gorodetskaya Nadezhda / Shutterstock.com

Gorodetskaya Nadezhda / Shutterstock.com

If you’re not rich, you may wonder how you can get rich at various intervals of your life. Building long-term wealth generally means making smart decisions with your finances like investing consistently and prioritizing paying off any debt.

Learn More: Why Stealth Wealth Is the Best Way To Handle Your Money
Related: How To Build Your Savings From Scratch

What it doesn’t include is spending money on stuff that doesn’t have lasting value. How do you know which purchases are preventing you from building wealth? Here’s what one financial planning expert does not recommend spending your

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Housing economist says home prices will drop by 10% this year

Housing values ​​will drop by double digits this year, one expert is predicting, as tighter lending requirements choke off demand.

“So we are forecasting that we are going to get a 10% decline in house prices this year,” Abbey Omodunbi, PNC Bank Senior Economist, told Yahoo Finance Live (video above). “There will be more of a balance in the housing market. There will be less demand and more supply. And that will contribute to the decline in house prices.”

Housing prices have come down since hitting their pandemic highs in the second quarter of last year. The US median home

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Personal finance class for students at Stuyvesant HS proves popular, NY lawmakers call for financial courses to be mandatory at all high schools

Personal finance is in high demand at Stuyvesant High School and its only teacher, David Peng, is now teaching the class for an entire year—for the first time ever after the class was only offered as a semester-long course.

The first personal finance class at Stuyvesant started in the 2021-22 school year after a math teacher and a student noticed the need for financial literacy courses at a school that is heavily focused on advanced STEM (Science, Technology, Engineering, Math) courses. In a sea of ​​AP Calculus and advanced and abstract algebra classes, personal finance has struck a chord with

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SVB CEO, CFO resigned, company appointed turnaround expert as interim finance head

April 21 (Reuters) – SVB Financial Group’s CEO and chief financial officer resigned this week while the collapsed lender’s restructuring committee appointed a turnaround expert as interim CFO, according to a regulatory filing on Friday.

CEO Gregory Becker resigned on April 19, while finance chief Daniel Beck left the company on April 18, SVB said. The two top executives were sued in March by shareholders who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit “particularly susceptible” to a bank run.

The beleaguered company hired Alvarez & Marsal (A&M) as a restructuring advisor. The

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Startup founder’s alleged $175 million fraud highlights inequality in finance, experts say

JPMorgan Chase trumpeted its $175 million acquisition of a college financial planning company called Frank in 2021, boasting that the firm served more than five million students.

Little more than a year later, however, the nation’s largest bank sued Frank founder Charlie Javice, saying she and another executive from the company deceived the bank and that the company actually had fewer than 300,000 customers.

In a counterclaim for wrongful termination, Javice denied the accusations, describing what she said was the bank’s failure to adequately vet the company as “implausible.”

The megabank’s apparent inability to properly assess the startup, which promised

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Zambia sent bondholders debt restructuring proposal, the finance ministry says

By Jorgelina do Rosario, Rodrigo Campos

FILE PHOTO: Zambia’s Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, US, October 15, 2022. REUTERS/James Lawler Duggan/File Photo

WASHINGTON/NEW YORK (Reuters) – Zambia last week gave its bondholders a “concrete proposal” for the restructuring of some $3 billion in eurobonds, the ministry of finance and national planning said on Friday.

“We continue to engage actively with our bondholders and proposals are being exchanged,” the ministry told Reuters in a statement.

The proposal “represents our commitment to finding a resolution that is acceptable to

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Canada Life purchases wealth manager IPC from sister company IGM Financial

Canada Life Assurance Co. – a subsidiary of Great-West Life – will purchase Investment Planning Counsel for $575-million in an all-cash deal from its sister company IGM Financial.

IGM Financial Inc. IGM-T and Great-West Lifeco Inc. GWO-T have struck a deal that will see independent wealth manager Investment Planning Counsel Inc. change hands while IGM snaps up a 20.5-per-cent stake in US giant Rockefeller Capital Management.

The deal, which was announced on Monday, will see Canada Life Assurance Co. – a subsidiary of Great-West Life – purchase Investment Planning Counsel for $575-million in an all-cash deal from its sister company

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RenoRun may seek creditor protection after Tiger, government funds are good at financing plans

Eamonn O’Rourke, left, and Joelle Chartrand, co-founders of RenoRun, outside their offices in Montreal, Quebec, on Jan. 27, 2022. The hardware delivery company must secure a buyer fast or it may seek creditor protection as soon as this week.Christine Muschi/The Globe and Mail

RenoRun Inc. was one of Canada’s hottest startups when it announced a US$142-million financing in early 2022 led by Tiger Global Management. The Instacart-like construction materials delivery service had tripled sales each of the prior three years and planned to repeat in 2022, reaching $120-million.

Montreal-based RenoRun planned to expand across North America and nearly double

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