Skip to main content

Featured

Markets Rally on Iran Peace Hopes and SpaceX's Historic IPO

Global markets were broadly higher on Friday as two big stories dominated trading: growing optimism that the United States and Iran are close to a peace deal, and the long-awaited Nasdaq debut of SpaceX — the largest initial public offering in history. Oil prices fell sharply on the geopolitical news, which helped ease inflation fears and gave stocks an additional lift heading into the weekend. 🇨🇦 Canada — TSX The S&P/TSX Composite Index is trading higher Friday, building on Thursday's recovery after a volatile stretch tied to Middle East tensions. The TSX shed roughly 0.8% on Wednesday, touching a three-week low near 34,151, as U.S.–Iran hostilities escalated and the Bank of Canada held its key rate steady at 2.25% — as widely expected. Thursday's session reversed some of those losses as Trump called off a planned strike and signalled a deal was within reach, pushing TSX futures higher. Energy stocks remain in focus: with oil now retreating, Canadian producers like Cenov...

article

Aid World in Turmoil: USAID Contractors Face Layoffs and Cash Crunch Under Trump Overhaul


In a dramatic shakeup of U.S. foreign assistance, contractors working with the U.S. Agency for International Development (USAID) have been forced to fire staff and grapple with severe cash shortages amid sweeping changes imposed by President Donald Trump. Hours after taking office, Trump ordered a comprehensive review—and subsequent freeze—of nearly all U.S. foreign aid programs. The move, aimed at realigning spending with “America First” priorities, has led to blanket stop-work orders that left hundreds of contractors without incoming payments for approved projects.

Contractors, who normally front project costs and then invoice the government, suddenly found their revenue streams drying up. As a result, companies reported laying off large portions of their workforce and initiating furloughs, with some citing unpaid invoices worth millions of dollars. The financial crunch has not only jeopardized the livelihoods of thousands of aid workers but also threatened critical programs abroad—from nutritional support for malnourished children to life-saving health initiatives.

Critics warn that these abrupt changes risk undermining decades of humanitarian work that has saved millions of lives, while supporters argue that the review is necessary to eliminate waste and ensure that aid spending directly supports U.S. national interests. As the situation unfolds, uncertainty looms over the future of U.S. foreign assistance, with contractors and aid organizations bracing for further disruptions and potential legal battles over lost benefits and unpaid debts.


Comments