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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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U.S. B-2 Stealth Bombers Strike Houthi Bunkers in Yemen

 

In a significant military operation, U.S. long-range B-2 stealth bombers launched airstrikes targeting underground bunkers used by Yemen’s Houthi rebels. The strikes, which took place early Thursday morning, aimed to destroy five hardened underground weapons storage sites in Houthi-controlled areas of Sanaa and Saada.

U.S. Defense Secretary Lloyd Austin stated that the operation was also intended as an indirect warning to Iran, the main supporter of the Houthi rebels. This escalation comes amid heightened tensions in the region, with the Houthis recently attacking vessels in the Red Sea.

The deployment of B-2 bombers, known for their stealth capabilities and long-range precision, marks a notable escalation in the U.S. military’s involvement in Yemen. The strikes are part of broader efforts to curb the influence of Iran-backed groups in the Middle East.


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