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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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Kung Pao Chicken

 

Kung Pao Chicken, a Chinese takeout favorite with tender chicken, crunchy peanuts, and vibrant veggies in a bold, savory sauce, comes together in just 30 minutes for an easy weeknight meal!

Ingredients:

  • Chicken Marinade:

    • 450g boneless, skinless chicken breasts, cut into bite-sized pieces (about 1 lb)
    • 1 tablespoon soy sauce
    • 1 tablespoon Shaoxing wine or dry sherry
    • 1 teaspoon cornstarch

  • Sauce:

    • 2 tablespoons soy sauce
    • 1 tablespoon dark soy sauce
    • 1 tablespoon rice vinegar
    • 1 tablespoon sugar
    • 1 tablespoon cornstarch
    • 1/4 cup (60ml) water

  • Stir-fry:

    • 2 tablespoons vegetable oil
    • 6-8 dried red chilies
    • 1/2 cup (75g) unsalted roasted peanuts
    • 3 cloves garlic, minced
    • 1 tablespoon ginger, minced
    • 4 scallions, white and green parts separated and chopped

Instructions:

  1. Marinate the Chicken:

    • In a bowl, combine the chicken pieces with soy sauce, Shaoxing wine, and cornstarch. Let it marinate for about 20 minutes.

  2. Prepare the Sauce:

    • In a small bowl, mix together soy sauce, dark soy sauce, rice vinegar, sugar, cornstarch, and water. Set aside.

  3. Stir-fry:

    • Heat the vegetable oil in a wok or large skillet over medium-high heat.
    • Add the dried red chilies and stir-fry for about 30 seconds until they darken slightly.
    • Add the marinated chicken and stir-fry until it’s no longer pink, about 3-4 minutes.
    • Add the garlic, ginger, and the white parts of the scallions. Stir-fry for another minute.
    • Pour in the sauce and stir until it thickens and coats the chicken.
    • Add the peanuts and the green parts of the scallions. Stir to combine.

  4. Serve:

    • Serve hot with steamed rice.

Enjoy your homemade Kung Pao Chicken!

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