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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Delta Airlines Increases Checked-Baggage Fees by 17%


              

In a move that may prompt travelers to reconsider their packing strategies, Delta Airlines has just raised the cost of checking your first bag by 17%. The previous fee of $30 for domestic flights now increases by $5, bringing it to $35. Additionally, the charge for a second checked bag has risen from $40 to $45.

Delta’s decision follows similar fee hikes by other major U.S. carriers. Both American Airlines and United Airlines announced their own increases in February, and smaller carriers like Alaska Airlines and JetBlue Airways have also adjusted their fees recently. This trend of carriers adjusting their pricing in response to one another is often referred to as “herd instinct” by behavior analysts.

While passengers with status perks can still check their first bag for free, and those with first-class tickets can check two bags without charge, the majority of travelers will feel the impact of these fee adjustments. Baggage fees have become a reliable source of revenue for airlines, especially since their introduction in 2008 when jet fuel prices were soaring. In 2022, U.S. airlines collectively earned $6.8 billion from checked-bag fees, with American and United leading the way at $1.4 billion and $1.1 billion, respectively. Delta followed closely in third place with $979.4 million.

As travelers prepare for their next flights, it’s essential to stay informed about these changes and consider how they might affect travel budgets. Whether you’re a seasoned flyer or a first-time traveler, keep an eye on those baggage fees—they’re more significant than ever.


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