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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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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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