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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Tragedy at Toronto Pearson Airport: Police-Involved Shooting Leaves One Dead

A man has died following a police-involved shooting at Toronto Pearson International Airport's Terminal 1. Peel Regional Police responded to reports of a "man in distress" early Thursday morning. According to the Special Investigations Unit (SIU), the man produced a firearm during the encounter, prompting three officers to discharge their weapons. The 30-year-old man was transported to the hospital, where he was pronounced dead. No officers were injured in the incident.

The shooting caused significant disruptions at the airport, with passengers rerouted and delays reported. Authorities have assured the public that this was an isolated incident and there are no ongoing threats to safety. The SIU is investigating the circumstances surrounding the shooting, as is standard procedure in cases involving police conduct.

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