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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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Gaza Ceasefire Talks Resume Amidst Grim Milestone: Over 40,000 Palestinians Killed

 

In a desperate bid to end the devastating conflict, negotiators from Israel and Hamas have resumed ceasefire talks in the Qatari capital, Doha. The war, which has raged for over ten months, has now claimed the lives of more than 40,000 Palestinians, according to Gaza health officials.

Despite the grim toll, yesterday’s negotiations were described as “constructive” by a US official. However, significant obstacles remain. Hamas insists on implementing a framework agreement that includes a complete ceasefire, withdrawal of Israeli forces, the return of displaced Palestinians, and a hostage exchange deal.

The situation is dire. Gaza’s Health Ministry reports that many more Palestinians are buried under rubble and threatened by illness. As the talks continue, the world watches, hoping for a breakthrough that can bring an end to this devastating conflict. 

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