logo
Seattle Businesses Take Canadian Cash at Par to Lure Sports Fans

Seattle Businesses Take Canadian Cash at Par to Lure Sports Fans

Mint09-05-2025
(Bloomberg) -- For years, the arrival of the Toronto Blue Jays in Seattle brought a familiar sight: tens of thousands of exuberant Canadians pouring into the city to cheer on their baseball team.
But this year, the crowds are noticeably thinner. Keen to bring them back, Seattle is offering a hefty discount — in hopes of reviving the cross-border tradition during three games this weekend against the Seattle Mariners at T-Mobile Park.
Iconic seafood restaurant Ivar's, the Space Needle and the Pacific Science Center are among dozens of businesses participating in the promotion that accepts Canadian dollars at par all weekend. With the loonie worth just 72 US cents, that effectively gives visitors who show Canadian IDs about a 30% discount.
'I think we're earning goodwill, which is what we wanted with our neighbors,' said Ivar's founder Bob Donegan. 'But we are not seeing a significant increase in the number of Blue Jay fans coming to Seattle.'
Tourism officials on both sides of the US-Canada border report that travel has dropped sharply amid political tension and economic uncertainty.
At the Blaine, Washington border crossing, a major entry point for visitors from Vancouver, southbound traffic was down 52% in the first two weeks of April compared to the same period last year. Passenger arrivals on Air Canada flights to Seattle-Tacoma International Airport dropped 66% in March.
Canadians cite frustration with US policies under President Donald Trump, including tariffs and his repeated suggestion that Canada should become the 51st state. Other travelers are avoiding the US over fears of being detained or pulled aside for questioning at the border as part the Trump administration's broader immigration crackdown.
Adding to the strain, Canada's economy is showing signs of weakness. Data released Friday showed the country's unemployment rate rose to 6.9% in April amid job losses in sectors like manufacturing that are affected by tariffs.
The program to accept Canadian currency, called 'Open Arms for Our Canadian Friends,' includes hotels, restaurants and even transportation companies like FRS Clipper, a boat service between Seattle and Victoria, British Columbia, as well as Kenmore Air, which runs seaplanes between Washington State and western Canada.
Even with this effort, Donegan said that looking out his window on Friday, he saw none of the signature Blue Jays ballcaps that typically swarm the area during the games.
He also said interviews that he's done with Vancouver radio stations in recent days have been followed by angry fans calling in to say they're 'so irritated with the American policy that they are not coming to town.'
'They're typically delightfully goofy Canadians who are so friendly and so focused,' Donegan said. 'So we miss them a lot.'
More stories like this are available on bloomberg.com
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India's Insurance Giant Turns to Wall Street Banks to Hedge Risk
India's Insurance Giant Turns to Wall Street Banks to Hedge Risk

Mint

timea few seconds ago

  • Mint

India's Insurance Giant Turns to Wall Street Banks to Hedge Risk

(Bloomberg) -- Life Insurance Corp. of India is working with some of Wall Street's largest banks to hedge its liabilities, according to people familiar with the matter. The nation's largest insurer has entered into $1 billion worth of bond forward rate agreements with banks including JPMorgan Chase & Co. and Bank of America Corp. over the past two months, the people said, asking not to be identified as they are not authorized to speak publicly. In November, LIC announced plans to enter the bond derivatives market and conducted a few small trades earlier this year. Since then, it has stepped up its activity — its recent deals have accounted for 38% of the total $2.6 billion in forward rate agreement volumes since May, according to data on the Clearing Corp. of India's website. This surge highlights the growing sophistication of India's financial players. As more Indian families invest in financial markets, insurers like LIC — which oversees $630 billion in assets — are driving demand for diverse investments and hedging options. FRAs, in particular, have become popular as they allow insurers to lock in future bond yields and shield them from falling interest rates that could reduce their income. Officials at the LIC and Bank of America did not respond to requests for comment made via email and phone, while a spokesperson for JPMorgan Chase declined to comment. In FRA, an insurer agrees to buy a bond at a set price on a future date. The counterparty — typically a bank — takes on the risk of bond price changes and receives a premium in return. To manage this risk, banks often buy long-term bonds that match the terms of the contract. LIC's growing activity in this market has boosted the demand for long-term bonds, the people said. In fact, the last two auctions for these bonds have seen the highest bid-to-cover ratios of the current fiscal year that began April 1, according to data compiled by Bloomberg. More stories like this are available on

Thailand, Cambodia begins peace talks in Malaysia: From 'immediate ceasefire' to Trump's tariff threat — 5 key points
Thailand, Cambodia begins peace talks in Malaysia: From 'immediate ceasefire' to Trump's tariff threat — 5 key points

Mint

timea few seconds ago

  • Mint

Thailand, Cambodia begins peace talks in Malaysia: From 'immediate ceasefire' to Trump's tariff threat — 5 key points

Thailand and Cambodia opened peace talks on Monday in Malaysia, seeking a "immediate' ceasefire in the deadly border conflict that escalated last week. Thai acting Prime Minister Phumtham Wechayachai and Cambodia's Prime Minister Hun Manet began their talks in the administrative capital Putrajaya around 3:15pm local time (0715 GMT). 1. Leaders of Thailand and Cambodia met at the residence of Malaysian Prime Minister Anwar Ibrahim, serving chair of the ASEAN bloc of which Thailand and Cambodia are both members. Anwar Ibrahim had proposed ceasefire talks soon after the border dispute erupted into conflict on Thursday, and China and the United States also offered to assist in negotiations. 2. The Malaysian PM had earlier said he would focus on an "immediate ceasefire." Late Sunday, he said both sides would present their conditions for peace, but 'what is important is immediate ceasefire.' 'I hope this can work,' Anwar was quoted as saying by Malaysian national news agency Bernama. 'Although it's not as bad as many other countries, we have to put a stop (to the violence), he added. 3. Meanwhile, US President Donald Trump has warned that his administration may not proceed with trade deals with either country if hostilities continue. After separate calls with Phumtham and Hun Manet on Saturday, Trump had threatened that Washington would not do a trade deal with either as long as the fighting continued. According to Bloomberg, Trump had said before the discussions that the Thai and Cambodian leaders had agreed to 'quickly work out a ceasefire.' Washington's top diplomat Marco Rubio said State Department officials were on the ground in Malaysia to assist the "peace efforts" while Cambodia said a delegation from its close ally China would also attend. 4. China said on Monday it welcomed efforts to end fighting between Cambodia and Thailand, as talks aimed at seeking a ceasefire between the Southeast Asian nations got under way in Malaysia. "We hope that both sides will start from the shared interests of their peoples, uphold the spirit of valuing peace and promoting good neighbourliness, remain calm and exercise restraint, cease fire and end the conflict as soon as possible," foreign ministry spokesman Guo Jiakun said. 5. Ahead of the negotiations in Malaysia, Thailand's leader said there were doubts about Cambodia's sincerity. "We are not confident in Cambodia, their actions so far have reflected insincerity in solving the problem," acting Thai Prime Minister Phumtham Wechayachai was quoted by Reuters as saying ahead of his departure for Malaysia. He said, "Cambodia has violated international law, but everybody wants to see peace. Nobody wants to see violence that affects civilians." 6. Meanwhile, Cambodia has strongly denied Thai accusations that it fired at civilian targets, and instead said that Thailand has put innocent lives at risk. It has called for the international community to condemn Thailand's aggression against it. Cambodia's defence ministry spokeswoman Maly Socheata said Monday was "the fifth day that Thailand has invaded Cambodia's territory with heavy weapons and with the deployment of a lot of troops". Monday's talks mark the first formal dialogue since fresh clashes erupted on July 24, with at least 35 people killed and more than 150,000 civilians displaced on both sides of their 800-kilometer (500-mile) border. Tensions between Thailand and Cambodia have intensified since the killing in late May of a Cambodian soldier during a brief skirmish. Both Thailand and Cambodia accuse the other of starting the fighting last week and then escalating the clashes with heavy artillery bombardment at multiple locations along their 817-km (508-mile) land border, the deadliest conflict in more than a decade between the Southeast Asian neighbours. Amid speculations over the ceasefire talks, troops from both sides reported ongoing fighting Monday along border areas. Gunfire could be heard as dawn broke in Samrong in Cambodia's Oddar Meanchey province, Associated Press reporters covering the conflict said.

Sensex falls 600 points, crashes 1,900 points in 3 days; what is driving the Indian stock market down? EXPLAINED
Sensex falls 600 points, crashes 1,900 points in 3 days; what is driving the Indian stock market down? EXPLAINED

Mint

timea few seconds ago

  • Mint

Sensex falls 600 points, crashes 1,900 points in 3 days; what is driving the Indian stock market down? EXPLAINED

The Indian stock market has been falling for three consecutive sessions, as concerns over a delayed India-US trade deal with the August 1 deadline approaching, relentless foreign capital outflows, and uninspiring Q1 results continue to dampen investor risk appetite. On Monday, July 28, the Sensex opened at 81,299.97 against its previous close of 81,463.09 and dropped over 600 points, or 0.80 per cent, to an intraday low of 80,830.80. The NSE counterpart Nifty 50 fell 0.70 per cent to an intraday low of 24,661.10. The market was witnessing a broad, across-segments selloff as the BSE Midcap index also fell by 0.80 per cent, while the Smallcap index plunged by over a per cent during the session. In three sessions, the Sensex has crashed nearly 1,900 points, or 2.3 per cent, while the Nifty 50 has fallen 2.2 per cent. Investors have seen their wealth erode by over ₹ 12 lakh crore in just three days, as the market capitalisation of BSE-listed companies fell from ₹ 460.35 lakh crore on July 23 to nearly ₹ 448 lakh crore. On Monday alone, the market wiped out almost ₹ 4 lakh crore, with the total m-cap dropping from ₹ 451.7 lakh crore in the previous session. (This is a developing story. Please check back for fresh updates.)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store