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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost $3.40 to $102.43, taking a breather after climbing nearly 6 per cent in two days, while Brent for November lost $2.92 to $105.83 (all figures in this para U.S.). Western Canadian Select traded at a discount of $27.10 to WTI, up from a discount of $27.60. Natural gas for October lost two cents to $2.89. The TSX energy index lost 15.76 points to close at 451.09.

Business headlines buzzed with Ottawa's new "Productivity Mega Deduction," a tax incentive that Prime Minister Mark Carney said will help make Canada "by far the most tax-competitive advanced economy for new business investment." The deduction halves the marginal effective tax rate (METR) -- at least Ottawa's modelling of it, as a theoretical economy-wide average built on various assumptions and caveats -- to 6.4 per cent from 13 per cent. By comparison, Ottawa calculates the U.S. METR at 16.9 per cent and the OECD average (excluding Canada) at 19 per cent. "Your investment dollars," Mr. Carney told a Toronto audience at the Canada Investment Summit, "will go a lot further in Canada than anywhere else in the advanced world."

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