Global Markets: Liberals to cut small business tax by 2019

By Commodity News Service Canada
WINNIPEG, October 17 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
Ottawa announced Monday it is cutting the small business
tax from 10.5 per cent to nine per cent by 2019. This comes on
the heels of pushback from across the country after the
government announced changes to taxes this summer. The
government said it is still working on tax changes to benefit
farmers, following vocal protests from the agriculture sector
Oil markets jumped again Tuesday as fighting continued
between Iraqi and Kurdish forces threatening supplies from
northern Iraq while tensions rose between the United States and
Iran. Brent crude gained 15 cents to $57.97 a barrel, up about a
third from mid-year levels. U.S. light crude was up five cents
at $51.92.
The European company Airbus has agreed to take a majority
stake in Canada’s Bombardier Inc.’s C Series jetliner program.
This deal will allow Bombardier to sidestep U.S. tariffs
threatened in a trade dispute with Boeing.

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