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Trump Signals Iran War Deal ‘Soon’ as Strait of Hormuz Stays Open, Easing Market Fears

                                   U.S. President Donald Trump said a deal to end the Iran war could come “soon,”   President Donald Trump said a deal to end the Iran war could come “soon,” a comment that helped calm global markets as the vital Strait of Hormuz remains open to commercial shipping. The waterway, which handles roughly one‑fifth of the world’s oil supply, has been a central concern for investors since the conflict began. With tankers continuing to move through the strait, oil prices have stabilized after weeks of volatility. Analysts note that even the perception of reduced risk in the region can ease pressure on global inflation, particularly in energy‑dependent economies like Canada. For Canadian households, a more stable oil market could help limit further increases in gasoline, transportation, and food costs. Equity markets reacted cautiously but positively,...
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Unprecedented Heatwaves Highlight Urgent Climate Crisis

 

In recent months, numerous regions around the globe have been grappling with record-breaking heatwaves, underscoring the escalating impacts of climate change. From North America to Europe, Asia, and beyond, temperatures have soared to unprecedented levels, causing widespread concern among scientists and the public alike.

In the United States, Death Valley experienced temperatures exceeding 125°F (51.7°C) for nine consecutive days in early July, while Las Vegas shattered its all-time heat record at 120°F (48.9°C). Similarly, Europe has faced extreme heat, with countries like Spain and Greece enduring prolonged periods of high temperatures, exacerbating the risk of wildfires.

The situation is equally dire in other parts of the world. In Saudi Arabia, over 1,000 people succumbed to the heat during the Hajj pilgrimage, as temperatures soared to 125°F (51.8°C) at the Grand Mosque in Mecca. Meanwhile, Pakistan’s hospitals have been overwhelmed by heat-related illnesses amid frequent power outages and water shortages.

These extreme heat events are not isolated incidents but part of a broader trend driven by climate change. The global average temperature has been steadily rising, with each of the past 13 months setting new records for that month. The European Union’s Copernicus Climate Change Service reported that the planet experienced its hottest day in at least eight decades on July 21, only to break that record again the following day.

As greenhouse gas emissions continue to warm the Earth’s atmosphere, the frequency and intensity of heatwaves are expected to increase. This alarming trend highlights the urgent need for global action to mitigate climate change and adapt to its inevitable impacts.


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