Morneau talks US tax cuts, eBay sues Amazon, and more top news

The news Canadian professionals are talking about now, curated by LinkedIn’s editors. Join the conversation by clicking the hashtags below.

The federal government could change how businesses can deduct capital investments, according to Finance Minister Bill Morneau. Morneau discussed the move as part of a response to U.S. tax cuts. Canadian business groups want the federal government to respond to this year’s U.S. tax changes, and legislation to change Canada’s tax code is expected in the government’s fall budget update, issued in early November. ? Here’s what people are saying.

EBay has filed a lawsuit against Amazon, accusing its sales representatives of illegally poaching sellers from its marketplace. The online auction giant claims Amazon lured the sellers via its own messaging system and that roughly 50 Amazon sales reps had sent more than 1,000 messages to eBay sellers. With sellers often working both sites, the two are fierce competitors — Amazon dominates approximately 50% of all online sales in the U.S.; however, eBay has revamped its website in a bid to lure more business. ? Here’s what people are saying.

Spotify is upending another longtime music industry staple: the soundtrack album. The streaming giant has begun partnering with film studios to create playlists for films, rather than the traditional path of releasing an album. Its first project is a playlist for the new film “Mid90s,” which needed no extra licensing as all the songs are already available on the platform. Spotify has made a name for itself through its playlists, which can attract up to 10 million followers. ? Here’s what people are saying.

No longer deemed “too big to fail,” Prudential Financial has been removed from federal oversight. The third-largest life insurer in the U.S., Prudential now joins other non-banking firms in shedding the “systemically important financial institution” label that was affixed in the aftermath of the financial crisis. The move signals that the Trump administration no longer sees the need “for heightened regulation” of big firms that operate outside banking. ? Here’s what people are saying.

Federal student-loan debt has the potential of spilling into a “widening default crisis,” that could affect everything from homeownership to forking out for “wifi or that extra sofa,” says Bloomberg. With the cost of borrowing inching up, overall outstanding student-loan obligations have reached $1.5 trillion. More than 10% of student-loan borrowers are 90 days or more delinquent, compared to 1.1% for mortgages and 4% for auto-loans. ? Here’s what people are saying.

Idea of the Day:  If you’d like to retire early, you should hope for the best but plan for the worst, says TV host and author Suze Orman.

“One of my most emphatic messages is that getting the same pleasure from saving as you do from spending will put you on the road to wealth.”

What's your take on today’s stories? Share your thoughts in the comments.  

— Carmel Melouney and Jessica Hartogs