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5 Things to Know Today: Canada Enters Recession, Oil Slips on Iran Ceasefire Talk

Saturday, May 30, 2026 — Your quick-hit Canadian financial briefing for the day. 1.Canada Officially Meets the Definition of a Technical Recession Statistics Canada confirmed Friday that real GDP contracted 0.1% on an annualized basis in Q1 2026 — following a revised 1.0% drop in Q4 2025 . That's two straight quarters of negative growth, which meets the technical definition of a recession. The miss was a big one: economists had forecast growth of 1.5% . The main culprits were a surge in imports (up 2.9%, largely gold), declining business capital investment (down 0.7% — its fifth consecutive quarterly drop ), and weakness in resource extraction and construction. On a per-capita basis, GDP actually edged up 0.2% as Canada's population shrank for the second quarter in a row. Not everyone is ready to call it a full recession: some economists note that three of the four weak months were isolated, and early April data points to a sharp 0.4% rebound . Still, the numbers ...
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From Montreal to Washington: Kamala Harris’s Canadian Roots

 

Kamala Harris, the first female Vice President of the United States, has a unique and diverse background that includes a significant chapter in Canada. Born in Oakland, California, Harris moved to Montreal, Quebec, at the age of 12 after her parents divorced. Her mother, Shyamala Gopalan Harris, a renowned breast cancer researcher, accepted a position at McGill University and the Jewish General Hospital, prompting the family’s relocation.

In Montreal, Harris attended Westmount High School, where she graduated in 1981. This period in Canada was formative for Harris, exposing her to a different culture and educational system. Despite the challenges of adapting to a new environment, she thrived academically and socially. Harris has often reflected on her time in Montreal, recalling how it shaped her perspective and resilience.

After high school, Harris returned to the United States to attend Howard University in Washington, D.C., and later earned her law degree from the University of California, Hastings. Her Canadian adolescence, however, remains a notable part of her journey, contributing to her multifaceted identity and global outlook.

Harris’s story is a testament to the impact of diverse experiences and the importance of embracing different cultures. Her time in Canada not only broadened her horizons but also prepared her for the challenges and opportunities that lay ahead in her remarkable career.


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