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Oil jumps above US$105 after Riyadh blasts, futures slip and yields near 24-year highs. TSX, Wall Street and global markets for Oct 8.

  Canadian Money Brief | Thursday, October 8, 2026 | Morning edition Oil is jumping, futures are sliding and bond yields are sitting near 24-year highs. Explosions in Riyadh, including a blast at the city's airport, sent crude sharply higher early Thursday and pushed U.S. stock futures lower. That follows a rough Wednesday for Toronto, where banks and miners dragged the TSX down. Here is where every major market stands before the open. Key takeaways Brent crude jumped about 5% to above US$105 a barrel; WTI rose about 5% to roughly US$92.75. S&P 500 futures are down about 0.6% and Dow futures about 1% after Wall Street's four-day winning streak ended Wednesday. The TSX fell about 1.7% Wednesday to near 35,040, led lower by the big banks and gold miners. The U.S. 10-year yield touched 5.36% on Wednesday, its highest since April 2002, and is hovering near 5.3% again. Markets are pricing in at least one Bank of Canada rate hike by year-end. Canada: TSX stumbles as banks and m...
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Starbucks Challenges Labor Agency in Supreme Court Case


In a significant legal battle, Starbucks is facing off against the National Labor Relations Board (NLRB) before the U.S. Supreme Court. The case centers around the company’s decision to fire seven workers who were actively involved in unionization efforts at a Tennessee store. Here are the key details:

  1. Background:

    • After Starbucks dismissed the seven workers for their unionization activities, the NLRB obtained a court order requiring the company to rehire them.
    • Now, Starbucks is seeking to limit the government’s power in such cases by challenging the NLRB’s actions.

  2. Supreme Court Hearing:

    • Justices are scheduled to hear Starbucks’ case against the NLRB.
    • If the court rules in favor of Starbucks, it could make it more difficult for the NLRB to intervene when it alleges corporate interference in unionization efforts.

  3. The Controversy:

    • Starbucks argues that the NLRB’s standards for requesting temporary injunctions against companies lack consistency across federal appeals courts.
    • Temporary injunctions can be burdensome for companies, as the NLRB’s administrative process can take years.

  4. Current Status:

    • Five of the seven workers involved in the case are still employed at the Memphis store, while the other two remain committed to the organizing effort.
    • The Memphis store voted to unionize in June 2022, but no labor agreement has been reached with Starbucks for any of the 420 company-owned U.S. stores that have voted to unionize since late 2021.

  5. Looking Ahead:

    • The hearing comes at a time when relations between Starbucks and Workers United (the union representing its workers) have improved. Both sides have resumed talks with the goal of reaching contract agreements this year.
    • The Supreme Court’s decision could have broader implications for labor rights and corporate accountability in unionization efforts.

In summary, Starbucks’ legal battle with the NLRB highlights the tension between corporate interests and workers’ rights. The outcome of this case could shape future labor disputes and the role of federal agencies in protecting employees’ right to organize.

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