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5 Things to Know Today: Oil Tops $108, CPI Day, and the Investment Summit Kicks Off

  Monday, September 14, 2026 A busy Monday for your wallet: oil has punched through $108 a barrel on a second Middle East supply shock, Statistics Canada's August inflation report lands this morning, and Toronto is hosting the country's first-ever Investment Summit. Here's what's moving and what it means for you. 1. Oil jumps to a 4-month high after Saudi pipeline shutdown Brent crude touched roughly $108 a barrel and WTI neared $103 on Monday after Saudi Arabia shut down its East-West pipeline — a 7-million-barrel-a-day route that bypasses the Strait of Hormuz — following drone strikes near Medina. A planned Oman meeting between Iran and Gulf states to de-escalate Hormuz shipping tensions was also postponed over the weekend, removing a near-term path to calm. Both benchmarks are now up roughly 9% over the past week alone, and some bank forecasts flag $120 oil as back on the table if disruptions persist. What it means for you: Pump prices, which had been easing thanks ...
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Trump Faces Potential $100 Million Tax Bill After Alleged Double-Dipping


In a bombshell report by The New York Times, former President Donald Trump is under scrutiny for potentially owing the IRS over $100 million due to questionable tax breaks related to his Chicago skyscraper. Here are the key details:

  1. Double-Dipping Allegations:

    • Trump’s 2008 tax return revealed that he reported losses of up to $651 million on his Chicago tower project. However, the IRS audit now suggests that he may have attempted to write off the same losses twice, leading to the substantial tax liability.
    • The Chicago Tower, completed in 2009, remains a focal point in this investigation.

  2. IRS Audit and Legal Implications:

    • Trump’s tax returns have been a subject of controversy for years. The recent revelations indicate that he has not paid income taxes in 10 out of the past 15 years, primarily due to reported losses.
    • The ongoing decade-long IRS audit centers around a $72.9 million tax refund Trump received, which could ultimately cost him more than $100 million.

  3. Public Perception:

    • The release of Trump’s private tax documents has undermined his image as a successful entrepreneur, revealing heavy losses from his ventures while he continued to benefit from inherited assets.
    • Trump has vehemently denied the accuracy of the New York Times report, calling it “illegal” and suggesting that the journalists behind it should be jailed.

In summary, the potential tax bill represents a significant financial challenge for Trump, and the legal implications remain a matter of intense scrutiny. The double-dipping allegations could have far-reaching consequences for the former president’s financial standing and reputation. 

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