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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Air Canada Flight Attendants Defy Back-to-Work Order, Strike Continues Amid Government Intervention

 

                                            Demonstrators hold placards on the day the strike begins.

Air Canada Flight Attendants Extend Strike Despite Federal Arbitration Order

Air Canada flight attendants, represented by the Canadian Union of Public Employees (CUPE), have vowed to continue their strike despite a federal back-to-work order issued less than 12 hours after the work stoppage began. The government’s intervention, led by Jobs Minister Patty Hajdu, mandates binding arbitration and the resumption of airline operations, but union leaders say they’re not backing down.

CUPE, which represents 10,000 flight attendants, criticized the government’s swift action, accusing Hajdu of capitulating to Air Canada’s demands and undermining workers’ rights. “To legislate us back to work 12 hours after we started? I’m sorry, snowstorms have shut down Air Canada for longer than we were allowed to strike,” said Lillian Speedie, vice-president of CUPE Local 4092.

The strike, which began early Saturday morning after failed last-minute negotiations, has led to the cancellation of over 700 flights and disrupted travel plans for more than 130,000 passengers daily. Air Canada Express flights operated by Jazz and PAL remain unaffected.

Key issues in the dispute include wage stagnation over the past decade and unpaid labor during non-flight duties. CUPE has organized national demonstrations at major airports including Toronto, Montreal, Vancouver, and Calgary, signaling continued resistance to the arbitration order.

Despite Air Canada’s announcement that flights would resume Sunday evening, the union insists picket lines will remain active until further notice. Both parties are expected to return to the bargaining table this week, though tensions remain high.


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