Skip to Content

The New York Times posts

Why Working in Your Twenties Sucks Big Time

Filed under: Employment & Careers, Entrepreneurship, Small Business, Pop's Wallet

Just this week, The Huffington Post reported that The University of Toronto Students' Union called on Ontario's Labour Minister to ban illegal unpaid internships, contending that over 300,000 Canadians are misclassified as interns, trainees and non-employees at a time when the youth unemployment rate is double the national average at 14.2%. The union also argued that such practices do damage to the economy in general by inflating the student debt even more.

Wait a minute, "Misclassified?" Yes. As Walletpop has covered before, Unless the interns in your office are part of an internship program from a high school, college or university and working for course credit, the following six conditions must all be met before they can legally work for free:
For his part, Labour Minister Yasir Naqvi agreed with the union writing to Huffington Post that "If you perform work for someone – unless you are self-employed, in a co-op placement, or a trainee – you are an employee covered under the Employment Standards Act and should be paid – it doesn't matter if you are called an 'intern' or not."

However, he did not make it clear whether he would address the existing double standard and close the legal loopholes that allow employers to break the law by relying heavily on unpaid or underpaid labour.

However, the exploitation of the youth labour force across North America goes way beyond just unpaid internships, even the people technically getting paid are working harder and longer, while getting paid less than any other previous generation.

Hedge Fund Sends Cocoa Prices Soaring. Should You Invest?

Filed under: Financial Crisis, Food & Drink, Investing

Two years ago when the recession hit and hedge funds needed a place to stash their money they looked to commodities such as oil, corn and rice. Prices rose and then jumped even higher as fears of shortages spread. Then, as the global economy improved, commodity prices eased back to more sustainable levels.

Now economic jitters have returned and hedge funds need a new investment. For one London-based fund, that commodity is cocoa, and chocolate lovers are not impressed.

Cocoa prices on the London market rose to a 33-year high of £2,732 ($4,379) a tonne last week, and it's not because there was a sudden shortage in supply. Anthony Ward, a hedge fund manager at London-based Armajaro, has bought up almost Europe's entire supply of cocoa - or 7% of the world's crop - enough to manipulate market prices, according to media reports in The New York Times and the Financial Times.

So is there going to be a shortage of cocoa beans, and should you invest in cocoa?

Compare Personal
Finance Rates

Find Your Rate

Advertisement
  • All
  • Mortgages
  • Credit Cards
  • Savings
Enter Mortgage Value
Company
Monthly
Rate
Choose Card Type
Company
Reward Return
Rate
MBNA
2.05%
$1,500.33
Best Rate
2.05%
$1,500.33
Best Rate
2.05%
$1,500.33
Choose Savings Type
Company
Savings
Rate

Most Commented