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Canada Is In a Recession — What It Means for Your Money

It's official. Canada has entered a technical recession for the first time since 2020 — and it happened faster than almost any economist predicted. Statistics Canada confirmed Friday that the economy shrank for a second consecutive quarter, with Q1 2026 posting a 0.1% annualized contraction, following a 1.0% drop in Q4 2025. Forecasters had been expecting 1.5% growth . The surprise is significant. So what does this actually mean for everyday Canadians? Your job, your mortgage, your savings, your debt — we break it all down. −0.1% Q1 2026 GDP (annualized) −1.0% Q4 2025 GDP (revised down) 2.25% Bank of Canada overnight rate 2.8% Canada inflation rate (April) "Most businesses are basically in a holding pattern, treading water, hoping for brighter days." — Dan Kelly, President, Canadian Federation of Independent Business 📉 Wait — Is This Really a Recession? The term "technical recession" means two consecutive quarters of negative GDP growth on an annualized basi...
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Drone Strike Hits Aid Ship Bound for Gaza, Raising Humanitarian Concerns


A vessel carrying humanitarian aid to Gaza was struck by drones while navigating international waters off Malta early Friday, according to the Freedom Flotilla Coalition, the group organizing the shipment. The attack caused a fire onboard, which was later brought under control, but the ship remains at risk of sinking due to damage sustained in the strike.

The ship, named *Conscience*, was carrying 30 international human rights activists alongside aid supplies intended for Gaza. The coalition reported that the drone strike appeared to have specifically targeted the ship’s generator, leaving it without power and causing a breach in the hull. The vessel issued an SOS distress call, prompting Cyprus to dispatch a rescue vessel to assist.

The incident comes amid heightened tensions surrounding humanitarian aid access to Gaza, where the ongoing conflict has led to severe shortages of food, medicine, and other essential supplies. The Freedom Flotilla Coalition has long campaigned against Israel’s blockade of Gaza, with previous attempts to deliver aid by sea facing similar interventions.

Authorities have yet to confirm who was responsible for the drone attack, and there were no immediate reports of casualties. The Israeli military has not responded to requests for comment regarding the incident. 

The strike has intensified concerns over the safety of humanitarian missions attempting to reach Gaza, as aid groups warn that the humanitarian response in the region is on the verge of collapse. 


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