Money

Canada’s top one per cent of tax-filers earned an average income of $454,800 in 2013 and were taxed an average of $151,900, according to a new report by Statistics Canada. The percentage increase was the same rate for all tax filers, while the amount of income tax paid by the top one per cent averaged $151,900, up $3,000 or two …

The house where Bruce Springsteen wrote his iconic “Born To Run” album is back on the market. That’s because the 828-square-foot house where he wrote all eight songs on his epic 1975 album Born to Run is on sale for a price that even someone who is not a Boss could afford – $299,000.

McDonald’s Restaurants of Canada Ltd. is going upscale, one customized burger at a time. President and CEO John Betts announced on Wednesday an industry game changer for the fast food company which includes enhanced guest experiences and customized menu options.

Alcoa said on Monday it will split into two companies to separate its struggling aluminum smelting operations from production of lightweight metals for its faster-growing aerospace and automotive business. Shares of Alcoa, down 43 per cent this year, gained 4.7 per cent to $US9.50 a share in premarket trading. Alcoa said its upstream company, which will keep the Alcoa name, …

TransCanada Corp. is cutting 20 per cent of its senior leadership positions, and the pipeline firm says there will be more job losses to come because of low world oil prices and the “current environment.” “As we signalled in June, TransCanada is introducing changes to our structure to ensure we remain competitive and deliver shareholder value as we continue to …

Karen Parker Gray left $50,000 each to her hairstylist and nail technician. Karen Parker Gray, the daughter of a former General Electric VP, passed away of a heart attack in August, and her longtime nail technician Jenny Kim was surprised to learn that Gray left her $50,000 in her will.

Canada’s annual inflation rate remained at 1.3 per cent in August as lower energy prices continued to keep a lid on the overall cost of living, Statistics Canada reported Friday. Prices advanced in most categories, led by a 3.6% y/y increase in food prices. Meat (+6.3% y/y) continues to be the key driver behind the rise in food prices, although …

A blue moon diamond weighing 12.03 carats and described by experts as internally flawless could sell for a record $55 million when it goes up for auction in Geneva in several weeks, Sotheby’s said on Thursday. The Blue Moon diamond, discovered in South Africa in January last year, has been described by experts as internally flawless and will be exhibited …

Princess Leia’s slave costume could fetch $120000 at auction. Princess Leia’s iconic costume, worn in 1983’s Return of the Jedi, will go under the hammer on October 1 at California’s Profiles in History auction house. The bikini is one of 50 lots of original Star Wars props owned by those involved with the film, which will go on sale next …

The move will save $2.7 billion for Hewlett Packard Enterprise, but will drive up the number of layoffs under Meg Whitman to about 85,000. Today, the company announced that this restructuring will involve reducing the workforce by 25,000 to 30,000 people, or 10 percent. Most of those jobs will be eliminated on the HP Enterprise side.

A key indicator of household debt hit a record high in the second quarter of 2015 as lower mortgage rates drove increased borrowing, Statistics Canada figures show. The ratio of household credit market debt to disposable income rose from 163% in Q1 to 164.6% in Q2. This means that for every dollar of disposable income households brought in, they owed …