Canadian Company TransCanada took a blow Friday when President Obama announced he was rejecting its request to build the Keystone XL pipeline. The pipeline would have helped transport hundreds of thousands of barrels of Canadian tar sands oil from Alberta to U.S. refineries. Canadian Prime Minister Justin Trudeau expressed disappointment.
Economic challenges in Brazil and other foreign countries — plus a strengthening U.S. dollar --are having an impact in Miami. Developers are seeing a decline in demand from international buyers that's already led some projects to be cancelled.