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5 Things to Know Today — September 28, 2026

  Monday, September 28, 2026  |  MoneySavings.ca Iran rejects Trump's terms for Hormuz, the US alcohol ban on Canadian goods kicks in tomorrow, the loonie posts its 13th straight losing session, Tuesday brings a key GDP print, and Ottawa quietly narrowed the federal deficit. Here's what it all means for your wallet today. 01 OF 05 🛢️ Iran Digs In on Hormuz — Trump Rejected the Deal, and Oil Stays Elevated Iran's Foreign Minister Abbas Araghchi offered over the weekend to reopen the Strait of Hormuz within seven days — the same terms attached to the June Islamabad Memorandum of Understanding that collapsed in early July. The conditions: the US lifts its naval blockade on Iranian ports, waives sanctions on Iranian oil sales, and observes a broader ceasefire. Trump rejected the offer outright on Saturday, calling it a play by a country that is "losing badly," and renaming the strait "Trump Strait" on Truth Social for good measure. As of this morning, Iran ...
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Power begins to return after huge outage hits Spain and Portugal, Cause Still Unclear

 

Power has been almost fully restored across Spain and Portugal following one of the most significant blackouts in European history. The outage, which began on April 28, 2025, disrupted daily life for millions, grounding flights, halting metro systems, and leaving cities in darkness. By early April 29, over 99% of energy demand in Spain and all power substations in Portugal were back online.

Despite the restoration efforts, the root cause of the blackout remains a mystery. Initial investigations have ruled out cyberattacks and sabotage, with experts pointing to potential anomalies in the interconnected European power grid. Spanish and Portuguese authorities continue to work closely with energy operators to determine the exact sequence of events that led to the unprecedented outage.

As life returns to normal, questions linger about the resilience of the region's power infrastructure and the measures needed to prevent future disruptions. For now, the Iberian Peninsula breathes a sigh of relief as lights flicker back on and daily routines resume.

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