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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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Steakhouse Burgers

 

Ingredients

  • 2 pieces White Sandwich Bread
  • 0.33 cup Milk
  • 2.5 teaspoons Kosher Salt
  • 1 teaspoon Black Pepper
  • 3 Garlic Cloves
  • 1.5 tablespoons Worcestershire Sauce
  • 2 tablespoons Ketchup
  • 3 pounds Lean Ground Beef
  • 3 Scallions
  • 8 Hamburger Buns

Instructions

  1. Preheat the grill to high heat.
  2. In a large bowl, mash the bread and milk together with a fork until it forms a chunky paste. Add the salt, pepper, garlic, Worcestershire sauce and ketchup and mix well.
  3. Add the ground beef and scallions and break the meat up with your hands. Mix everything together until evenly combined. Divide the mixture into 8 equal portions and form compact balls. Flatten the balls into 3⁄4-inch patties about 41⁄2 inches across. Form a slight depression in the center of each patty to prevent the burgers from puffing up on the grill.
  4. Oil the grilling grates. Grill the burgers, covered, until nicely browned on the first side, 2 to 4 minutes. Flip burgers and continue cooking for a few minutes more until desired doneness is reached. Before serving, toast the buns on the cooler side of the grill if desired.
  5. Freezer-Friendly Instructions: The uncooked burgers can be frozen for up to three months. (Freeze the burgers on a baking sheet or plate so their shape sets, then transfer them to a sealable plastic bag for easy storage.) Defrost the burgers overnight in the refrigerator prior to serving and then cook as directed
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