Democratic-leaning states say they’re feeling the pain from the new tax law
Manhattan is losing wealthy residents, home sales are falling in Westchester County, and real estate prices are flattening in several counties. Those are some of the effects that New York says it’s feeling because of the new cap on state and local property tax deductions. The painful fallout of the new tax law is getting […]
The uncomfortable reason you’re seeing dirt cheap airfares right now
Ticket prices aren’t taking off. In fact, airfare is getting cheaper. When you adjust for inflation, the average round-trip domestic airfare in 1995 would have cost you $480, according to government data. In 2018, it cost you just an inflation-adjusted $346 — which means it’s fallen more than 27%. What’s more, it’s been falling for […]
Canadian mortgage rates are falling as bond yields slide lower
Yield on 5-year government debt has dipped below 1.5%, lowest since 2017 What’s bad news for some is good news for others, and Canadian mortgage-holders are the unexpected beneficiaries of some of the gloom that’s hovering over Canada’s economy. Fixed mortgage rates have been falling precipitously in recent weeks, as the cost of financing those […]
SNC’s reputation takes hit
SNC-Lavalin Group Inc. is leaving the door open to a lawsuit against Chile’s state-owned copper mining company, which has terminated its contract with the construction giant. A spokesman for SNC-Lavalin tells The Canadian Press that the company is looking at all options to determine whether to take legal action. The Montreal-based engineering firm has said […]
Stocks get boost as oil rises
Canada’s main stock index pushed higher in late-morning trading as oil prices moved up and the energy sector headed higher. The S&P/TSX composite index was up 85.82 points at 16,151.68. In New York, the Dow Jones industrial average was up 258.69 points at 25,775.52. The S&P 500 index was up 28.35 points at 2,826.71, while […]
China’s crackdown on Canadian canola expands as 2nd company, Viterra, has licence revoked
China alleges Canadian canola has harmful pests in it, escalating trade and diplomatic tensions A second Canadian company has had its licence to sell canola to China revoked as a crackdown continues on one of the most Canadian crops in the world. The latest move involves Regina-based Viterra Inc. The company, formed out of the merger of the former farming collective […]