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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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Canadian Excel Maestro Claims World Spreadsheet Championship Title

 

Michael Jarman, a financial modelling director from Toronto, has been crowned the new world champion of managing spreadsheets in Microsoft Excel. Jarman clinched the title at the Microsoft Excel World Championships held in Las Vegas on December 4, 2024, defeating Australia's three-time champion Andrew Ngai in a thrilling finale.

The competition, which is akin to an esports event, required participants to build and manage spreadsheets to perform tasks and solve problems based on a World of Warcraft theme. Jarman's victory came after an intense final round where he successfully tracked various game statistics, including experience points and health, under immense pressure.

For his remarkable skills, Jarman took home a $5,000 prize and the event's signature championship belt. "It was an amazing feeling," Jarman said. "It's definitely a really great memory for me, and will be for a long time."

Jarman's triumph not only highlights his exceptional Excel abilities but also showcases the growing popularity of spreadsheet competitions as a unique and entertaining sport.



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