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5 Things to Know Today (Oct. 1): Minimum Wage Hike, Cooler U.S. Inflation, Oil Below $100

  Thursday October 1, 2026 A new quarter, a higher minimum wage in Ontario and a softer inflation read south of the border. Here are the five things that matter to your wallet today. 1 Ontario's minimum wage rises to $17.95 today Ontario's general minimum wage climbs 35 cents, from $17.60 to $17.95 an hour, as of October 1 — a roughly 2% bump tied to Ontario's CPI. The student rate goes to $16.90 (from $16.60) and the homeworker rate to $19.70. A full-time worker at 40 hours a week earns about $718 a week before deductions. Federally regulated workers already have an $18.15 floor, which has applied since April 1. What it means for you: If you pay anyone by the hour — a cleaner, a part-time helper, a seasonal worker — hours worked from today forward must be paid at no less than $17.95, even if the pay period started in September. Workers should check their next paycheque. 2 Cooler U.S. inflation eases the pressure on rate hikes The Fed's preferred inflation gauge came i...
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Iran Seizes Oil Tanker Involved in US-Iran Dispute in Gulf of Oman

 



Iranian navy has seized an oil tanker in the Gulf of Oman that was at the center of a major US-Iran crisis. The vessel was once known as the Suez Rajan and had been involved in a yearlong dispute that ultimately saw the U.S. Justice Department seize 1 million barrels of Iranian crude oil on it. 

The tanker was carrying Iraqi crude oil intended for Turkey. The seizure comes as a response to the previous year’s seizure of the same vessel by the United States. The ship was reportedly confiscated by Iran as the result of a court order. The incident occurred early in the morning in the waters between Oman and Iran in an area transited by ships coming in and out of the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil traded passes. The vessel was boarded by armed men and the ship’s security officer heard unknown voices on the phone . The tanker had been off the city of Basra, Iraq, loading crude oil bound for Aliaga, Turkey, for the Turkish refinery firm Tupras. The ship was identified as the oil tanker St. Nikolas.


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