May 23 roundup

On Canada’s ever widening rich-poor gap, pros and cons of digital wallets and alleged wrongdoing by Zuckerberg and Morgan Stanley related to the Facebook IPO.

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•The gap between the rich and the poor in Canada is the widest it has been since 1920, according to the Canadian Centre for Policy Alternatives. The trend, whereby middle-class incomes remain stagnate and the richest 1% see their incomes grow rapidly, is a threat to the economy, says economist Lars Osberg.

MoneySense contributor Preet Banerjee writes about the pros and cons of the digital wallets in the Globe and Mail.

•Morgan Stanley and Mark Zuckerberg are facing lawsuits for their role in Facebook’s lacklustre IPO.There are concerns the bank selectively informed clients of an analyst’s negative report about the company before the stock started trading. Other reports suggest it was the Facebook founder himself who told analysts to slash revenue and earnings forecasts.

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