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Markets Today: Oil Tops $87 as Hormuz Doubts Grow, TSX Hits Fresh Record Ahead of Wednesday's Inflation Test

  August 11, 2026 Canada's main stock index closed at yet another record high on Monday, even as oil prices jumped 5% on fading hopes for a U.S.-Iran deal to fully reopen the Strait of Hormuz. Wall Street slipped modestly from Friday's records, gold pushed to a two-month high, and everyone's now watching the calendar: Wednesday brings the July U.S. inflation report, the data point that could decide whether the Federal Reserve hikes rates next month. 🇨🇦 Canada: TSX Notches Another Record The S&P/TSX Composite added 77.10 points, or 0.2%, to close Monday at 36,458.33 — a fresh all-time high, and the third record close in four sessions. Energy stocks led the way, jumping 3.7% as crude prices spiked, while technology added 1.1%. The gains were tempered by a rough day for Barrick Mining, which fell 6.45% after second-quarter profit and revenue came in below estimates (the company also struck a US$1.95-billion deal with Newmont to settle a long-running dispute over their s...
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Hot Tea, High Stakes: California Man Wins $50 Million Lawsuit Against Starbucks

A California delivery driver, Michael Garcia, has been awarded $50 million in a lawsuit against Starbucks after suffering severe burns from a spilled tea. The incident occurred in February 2020 at a drive-through, where a venti-sized tea fell onto Garcia's lap, causing permanent and life-altering injuries.

Garcia's legal team argued that the scalding-hot tea was not securely placed in a takeout tray by a Starbucks employee, leading to the accident. The Los Angeles County jury sided with Garcia, holding Starbucks accountable for negligence. Garcia underwent multiple medical procedures, including skin grafts, due to the burns.

Starbucks has expressed sympathy for Garcia but plans to appeal the decision, calling the damages excessive. This case echoes past high-profile lawsuits involving hot beverages, such as the famous McDonald's coffee case in the 1990s.

The verdict serves as a reminder of the importance of safety standards in handling hot drinks, both for businesses and consumers.

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