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5 Things to Know Today: Job Losses, a Sliding Loonie and Budget 2026 (Nov. 7)

  Canadian Money Brief · Saturday, November 7, 2026 Canada’s job losses stretched to a third month, the loonie took its biggest one-day hit since January, and the federal budget landed with a few items for your wallet. Here’s what to know today. 1 Canada’s job market has now lost jobs three months in a row Statistics Canada said the economy shed 4,700 jobs in October, well short of the gain of about 13,600 economists expected. The unemployment rate rose to 6.7% from 6.5%, a six-month high. That follows losses of 42,000 in August and 68,000 in September, and the country has added just 17,000 jobs over the past 12 months. Alberta lost 24,000 jobs, youth unemployment climbed to 13.7%, and average hourly wages were up only 2.2% from a year earlier. What it means for you: Wages are rising 2.2% a year while September inflation was 3.1%, so paycheques are losing ground. If your income feels less certain, this is a good week to check that your emergency fund covers three to six months of ...
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Turkey Converts Former Byzantine-Era Church into Mosque: A Controversial Move

 

 On Monday, Turkish President Recep Tayyip Erdogan formally opened the former Byzantine church of St. Saviour in Chora, known as Kariye in Turkish, as a mosque. This move comes four years after the Turkish government designated it a Muslim house of prayer, despite criticism from neighboring Greece1.

Historical Context

The Church of St. Saviour in Chora has a rich history. Dating back to the fourth century, it underwent significant transformations over the centuries. The current structure took shape during the 11th and 12th centuries. It served as a mosque during Ottoman rule before being converted into a museum in 1945. Like Istanbul’s iconic Haghia Sophia, which also underwent a similar transformation, the Chora Church is listed as a U.N. World Heritage Site.

Controversy and Criticism

Greece and other countries had urged Turkey to protect these important Byzantine-era monuments. The decision to convert both Haghia Sophia and the Chora Church back into mosques drew praise from Muslim faithful but raised concerns internationally. Critics accused Ankara of “insulting the character” of these World Heritage Sites. The moves were seen as part of an effort to consolidate the conservative and religious support base of Erdogan’s ruling party amid an economic downturn.

Restoration and Formal Launch

The formal launch of the Chora Church as a mosque was delayed due to restoration work. Erdogan presided over the ceremony remotely from a conference hall at his palace complex in Ankara. The church, located near Istanbul’s ancient city walls, is renowned for its elaborate mosaics and frescoes. Despite the controversy, Erdogan expressed hope that the conversion would bring good fortune.

Turkey’s decision to convert historical sites like the Chora Church and Haghia Sophia has sparked debates about cultural heritage, religious identity, and political motivations. As the world watches, these monuments continue to be at the center of a complex and multifaceted discussion.

The Associated Press, founded in 1846, remains a trusted source of factual reporting and essential news services worldwide. Turkish President Recep Tayyip Erdogan’s latest move adds another layer to the ongoing dialogue about the intersection of history, religion, and national identity.


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