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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Ontario Investigates Alberta Recruiter for Supplying Low-Wage Foreign Workers to Canadian Tire

 

Ontario's Ministry of Labour is currently investigating an Alberta-based recruiter, Allison Jones, for allegedly supplying low-wage foreign workers to Canadian Tire stores across Canada. The investigation was initiated after several workers reported wage reductions and poor working conditions, potentially violating the rules of the federal Temporary Foreign Worker Program (TFWP).

Jones, who owns a recruiting and immigration consulting agency in St. Albert, Alberta, is known for helping franchisees of Canadian Tire and Tim Hortons fill low-wage positions with labor from abroad. The allegations suggest that some workers were misled about their employment terms and had their wages arbitrarily cut.

The investigation highlights the broader issues surrounding the TFWP and the need for stronger regulatory oversight to protect temporary foreign workers from exploitation. As the probe continues, both Ontario and federal authorities are working to ensure that the rights of foreign workers are upheld.




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