Skip to main content

Featured

Canada Is In a Recession — What It Means for Your Money

It's official. Canada has entered a technical recession for the first time since 2020 — and it happened faster than almost any economist predicted. Statistics Canada confirmed Friday that the economy shrank for a second consecutive quarter, with Q1 2026 posting a 0.1% annualized contraction, following a 1.0% drop in Q4 2025. Forecasters had been expecting 1.5% growth . The surprise is significant. So what does this actually mean for everyday Canadians? Your job, your mortgage, your savings, your debt — we break it all down. −0.1% Q1 2026 GDP (annualized) −1.0% Q4 2025 GDP (revised down) 2.25% Bank of Canada overnight rate 2.8% Canada inflation rate (April) "Most businesses are basically in a holding pattern, treading water, hoping for brighter days." — Dan Kelly, President, Canadian Federation of Independent Business 📉 Wait — Is This Really a Recession? The term "technical recession" means two consecutive quarters of negative GDP growth on an annualized basi...
Post a Comment
Read more

article

Labels

Yemen’s Houthi rebels suspected of attacking ship in Gulf of Aden

 

A ship sailing in the Gulf of Aden was hit by a missile on Monday, less than a day after Yemen’s Houthi rebels fired an anti-ship cruise missile toward an American destroyer in the Red Sea, officials said.

The attack on the ship, which occurred about 110 miles southeast of Aden, was reported by the United Kingdom Maritime Trade Operations, which oversees Mideast waters. The ship’s captain said the missile struck the port side of the vessel from above, but did not provide any further details.

The identity of the ship and its crew was not immediately disclosed, nor was the extent of the damage or any casualties.

The Houthi rebels, who are backed by Iran and control Yemen’s capital, have not claimed responsibility for the attack, but they have previously targeted shipping in the Gulf of Aden and the Red Sea amid Israel’s war with Hamas in the Gaza Strip.

The Houthis have said they are defending themselves against the Saudi-led coalition that has been bombing them since 2015, after they ousted the internationally recognized government of Yemen.

The U.S. and its allies have accused the Houthis of disrupting the free flow of international commerce and threatening regional stability. President Joe Biden has warned that he will not hesitate to take further measures to protect U.S. interests and allies in the area.

The attack on the ship came as the U.N. Security Council was meeting to discuss the situation in Yemen and the humanitarian crisis caused by the war, which has killed over 100,000 people and pushed millions to the brink of famine.



Labels:

Comments

Post a Comment