Skip to main content

Featured

BoC Set to Hike Into a Weak Economy: What It Means for You

  Canadian Money Brief • Feature Monday, October 26, 2026 • Written ahead of the 9:45 a.m. ET decision on Wednesday, Oct. 28 The Bank of Canada is about to do something that looks backwards. Jobs are disappearing, the housing market is sluggish, and yet money markets and most economists expect the central bank to raise its key rate on Wednesday. If it happens, your budget gets squeezed from two directions at once: higher borrowing costs and a shakier job market. The short version • Expected move: +0.25 point to 2.50% on Oct. 28, up from 2.25% • Reuters poll: 56% of economists (19 of 34) call for a hike, and a majority see one more by end of March • Why now: energy-driven inflation (3.1% in September) and a bank worried it spreads • The catch: 68,300 jobs lost in September , unemployment at 6.5% Why would the bank hike when the economy is wobbling? Reuters reports the Bank of Canada is expected to raise its rate as a pre-emptive strike: the goal is to stop an oil-driven jump in p...
Post a Comment
Read more

article

Labels

Investigation into Baltimore Bridge Collapse Picks Up Speed as Divers Search for Missing Workers

 

U.S. federal safety investigators have recovered the black box from the freight ship that crashed into the Francis Scott Key Bridge, causing its collapse. Rescuers are now searching for the remains of six construction workers who were lost in the tragic incident.

The cargo ship, a 948-foot (289-meter) Singapore-flagged container vessel named Dali, collided with a pillar of the 1.6-mile (2.6 km) bridge in the early morning darkness on Tuesday. The impact caused a trestled section of the bridge to crumple into the water, sending vehicles and workers into the frigid, 50-foot-deep waters at the mouth of the Patapsco River.

Key Details:

  • Black Box Recovery: Investigators from the U.S. National Transportation Safety Board (NTSB) retrieved the data recorder after boarding the ship late on Tuesday. They will interview the ship’s crew and other survivors.
  • Closure of Port of Baltimore: The disaster forced the indefinite closure of the Port of Baltimore, one of the busiest on the U.S. Eastern Seaboard, creating a traffic quagmire for Baltimore and the surrounding region.
  • Rescues and Tragedy: Rescuers managed to pull two construction workers from the water alive on Tuesday, but six others are presumed to have perished. Among the missing are immigrants from Mexico, Guatemala, and El Salvador.
  • Bridge Code Compliance: Maryland Governor Wes Moore stated that the bridge was up to code with no known structural issues.
  • Preventing Higher Casualties: The container vessel had reported a loss of propulsion shortly before impact and dropped anchor to slow down, allowing transportation authorities to halt traffic on the bridge before the crash. This likely prevented a higher death toll.

The investigation into this tragic incident will provide a timeline of events, shedding light on how and why the cargo ship collided with the bridge. Meanwhile, divers continue their search for the missing workers, navigating mangled metal in the dark waters where lives were lost.


Labels:

Comments

Post a Comment