News of the day: Bank of Canada holds rate, sewer system backup, pickup trucks take centre stage, retirement advice, taxing U.S. citizens and more

It's Wednesday, Sept. 2. Here are the top stories we're following today.

Bank of Canada holds interest rate at 2.25% as trade war clouds outlook

The Bank of Canada on Wednesday held its key interest rate at 2.25 per cent for the seventh consecutive time, which was widely expected by economists due to the ongoing uncertainty from rising trade tensions and renewed hostilities in the war on Iran.

Canada wants to build more homes, but its water and sewer systems aren't ready

Canada's housing push is running up against a basic problem: some communities' water and sewer systems just can't handle all the growth governments want.

How pickup trucks took centre stage with consumers and the U.S.-Canada trade war

Trade war or not, General Motors Co. and other automakers are forging ahead on plans to increase production in Canada, which may be why U.S. negotiators are so focused on enforcing higher tariffs on Canadian-made pickups.

Can Tom afford to retire by 63 with a $1.16 million portfolio?

With strategies such as income splitting and paying down a mortgage, Tom's goal should be achievable, expert says.

U.S. citizens living in Canada face tax risk on investment income

A pair of U.S. tax cases decided this week confirmed that high-income U.S. citizens living in Canada (including dual citizens) could face an effective marginal tax rate of more than 57 per cent on any investment income they earn.

Drones need a key input and that's an opportunity for investors, BMO says

Canadian Tire launches loyalty partnership with Tim Hortons