Skip to main content

Featured

5 Things to Know Today: Midterms Day, Oil Plunge, Trade Deal, Budget (Nov 3)

  Canadian Money Brief • Tuesday, November 3, 2026 It’s Election Day in the United States, oil just had its biggest one-day drop since late July, and Ottawa tables its budget on Thursday. Here are five things to know today, and what each one means for your wallet. 1. U.S. midterms: Canada is watching Americans vote in the midterm elections today. Markets are expecting Democrats to win the House of Representatives, while control of the Senate is still uncertain. Trade policy has been a campaign issue, especially in border states such as Michigan and Maine, where Republican candidates have faced pressure over tariffs that have hurt local businesses. What it means for you: The result could move the loonie, the TSX and the tariff talks over the coming days, but one election night is rarely a reason to rebuild your TFSA or RRSP. If you need to convert Canadian dollars to U.S. dollars soon, expect choppy exchange rates. 2. Oil plunges on Iran diplomacy, then bounces Oil fell sharply o...

article

Federal Workforce in Turmoil: Mass Layoffs Spark Outrage and Uncertainty

In a sweeping move that has left federal workers reeling, the Trump administration has initiated mass layoffs targeting probationary employees across various federal agencies. The abrupt terminations, which began on February 13, 2025, have sparked widespread anger, chaos, and confusion among the affected workers.

The layoffs are part of a broader effort spearheaded by the newly-established Department of Government Efficiency (DOGE), led by billionaire Elon Musk. The initiative aims to streamline government operations and reduce spending by targeting employees who have been with the federal government for less than one or two years.

Many federal workers have expressed shock and disbelief at the sudden job losses, with some receiving termination notices via email or pre-recorded messages. The manner in which the layoffs were conducted has been criticized as callous and lacking in consideration for the human impact.

The Trump administration's aggressive approach to downsizing the federal workforce has prompted condemnation from unions and legal experts, who argue that many of DOGE's actions may not be legal. The layoffs have also raised concerns about the government's ability to provide essential services to the public.

As the dust settles, federal workers and their families are left grappling with the uncertainty of their future, while the broader implications of the mass layoffs continue to unfold.



Comments