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Oil jumps above US$105 after Riyadh blasts, futures slip and yields near 24-year highs. TSX, Wall Street and global markets for Oct 8.

  Canadian Money Brief | Thursday, October 8, 2026 | Morning edition Oil is jumping, futures are sliding and bond yields are sitting near 24-year highs. Explosions in Riyadh, including a blast at the city's airport, sent crude sharply higher early Thursday and pushed U.S. stock futures lower. That follows a rough Wednesday for Toronto, where banks and miners dragged the TSX down. Here is where every major market stands before the open. Key takeaways Brent crude jumped about 5% to above US$105 a barrel; WTI rose about 5% to roughly US$92.75. S&P 500 futures are down about 0.6% and Dow futures about 1% after Wall Street's four-day winning streak ended Wednesday. The TSX fell about 1.7% Wednesday to near 35,040, led lower by the big banks and gold miners. The U.S. 10-year yield touched 5.36% on Wednesday, its highest since April 2002, and is hovering near 5.3% again. Markets are pricing in at least one Bank of Canada rate hike by year-end. Canada: TSX stumbles as banks and m...
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Canada Post Cuts 50 Managerial Positions Amid Financial Struggles

 

Canada Post has announced the layoff of nearly 50 managers as part of a broad corporate restructuring aimed at curbing ongoing financial losses. The Crown corporation, which has faced years of operational and fiscal challenges, confirmed that about half of the impacted managers are based in Ottawa, with the remainder located in Toronto and other regions across the country.

Officials stated that these difficult decisions were made in response to what they described as a “critical financial situation” and “significant operational challenges.” The move follows earlier restructuring efforts—including the elimination of 20 percent of senior roles—to streamline processes and reduce overhead costs, while a federal loan of roughly $1 billion provides temporary financial relief to keep the service running smoothly.

Despite the management cuts, Canada Post assures Canadians that there will be no disruption in mail and parcel services. However, the decision has raised concerns among union representatives, who have long argued that too many managerial positions exist within the organization. As the postal service continues its efforts to modernize and return to financial health, further adjustments may be on the horizon.

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