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5 Things to Know Today: Canada Enters Recession, Oil Slips on Iran Ceasefire Talk

Saturday, May 30, 2026 — Your quick-hit Canadian financial briefing for the day. 1.Canada Officially Meets the Definition of a Technical Recession Statistics Canada confirmed Friday that real GDP contracted 0.1% on an annualized basis in Q1 2026 — following a revised 1.0% drop in Q4 2025 . That's two straight quarters of negative growth, which meets the technical definition of a recession. The miss was a big one: economists had forecast growth of 1.5% . The main culprits were a surge in imports (up 2.9%, largely gold), declining business capital investment (down 0.7% — its fifth consecutive quarterly drop ), and weakness in resource extraction and construction. On a per-capita basis, GDP actually edged up 0.2% as Canada's population shrank for the second quarter in a row. Not everyone is ready to call it a full recession: some economists note that three of the four weak months were isolated, and early April data points to a sharp 0.4% rebound . Still, the numbers ...
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Putin Asserts Russia’s Capability to Conclude Ukraine Conflict


Russian President Vladimir Putin has declared that Russia possesses the necessary strength and resources to bring the ongoing war in Ukraine to its desired conclusion. In a recent interview, Putin emphasized that while Russia has the means to achieve its objectives, he hopes that nuclear weapons will not be required.

The conflict, which began in February 2022, has resulted in significant casualties and geopolitical tensions. Western leaders, including former U.S. President Joe Biden, have condemned the invasion as an imperial-style land grab, while Putin has framed it as a pivotal moment in Russia’s relations with the West. The Kremlin has maintained that the war is a response to NATO’s expansion and Western interference in Moscow’s sphere of influence.

Despite ongoing diplomatic efforts, including U.S. President Donald Trump’s push for a resolution, the Kremlin has indicated that a swift peace deal remains unlikely due to the complexity of the situation. As the war continues, global leaders remain divided on the path forward, with concerns about escalation and the broader implications for international stability.

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