Earnings up for U.S. Steel

The parent company of Hamilton’s U.S. Steel Canada says a tax benefit helped nearly double it’s net income in the third quarter.

Pittsburgh-based U.S. Steel reports that, despite price increase pressures and a challenging global economy, it earned $44 million.

That compares with $22 million a year ago.

Revenue fell by more than 8% to $4.65 billion.

Demand has been down because key customers in areas such as the construction industry have cut purchases.