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Markets Closed for Labour Day — Oil Just Hit a 2-Month High as Tuesday's Tariffs Loom

  If you check your portfolio app this morning and it looks frozen, that's not a glitch. The TSX and every major U.S. exchange are closed today for Labour Day, so there are no new Canadian or American closing numbers to report. But the rest of the world didn't take the day off — and neither did the oil market, which is why this is still a markets story worth your coffee-break attention. Over the weekend, the U.S. struck three Iranian oil tankers in retaliation for ballistic missile attacks on U.S. Navy warships, and Iran hit back by targeting tankers and other vessels linked to the U.S., while threatening to impose a "restricted" maritime zone beyond the Strait of Hormuz. Brent crude jumped toward $97 a barrel on Monday — its highest level since July — extending a rally that already had crude up roughly 9% last week, its strongest weekly performance since mid-July. Add to that: Tuesday brings the reopening of Canadian and U.S. markets and the effective date of Canad...
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Canada Post Strike Enters Fourth Week Amid Rising Tensions


As the Canada Post strike approaches its four-week mark, tensions between the Crown corporation and the Canadian Union of Postal Workers (CUPW) continue to escalate. The ongoing strike, which began on November 15, 2024, has left millions of deliveries at a standstill, impacting businesses and consumers alike.

The union and management have been trading accusations of bad-faith bargaining. The CUPW criticized Canada Post's latest offers, stating that they do not address key issues such as wage increases, job security, and working conditions. In response, Canada Post claimed that the union's proposals have widened the gap between the two parties, introducing new demands that complicate negotiations.

With federal mediation on hold and no end in sight, the business community has called for government intervention. However, Prime Minister Justin Trudeau has so far resisted stepping in, urging both sides to reach an agreement.

As the strike drags on, small businesses, especially retailers relying on parcel deliveries during the holiday season, are feeling the brunt of the disruption. The CUPW has also filed an unfair labour practice complaint over layoffs of striking workers, adding another layer of contention.

The future of negotiations remains uncertain, with both parties standing firm on their positions. The impact on the economy and public services continues to grow, leaving many to wonder when a resolution will be reached.




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