Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Southern Europe Scorched: Relentless Heatwave Fans Wildfire Crisis

 

                                     

Southern Europe is in the grip of a prolonged heatwave, with Spain, Portugal, and Greece battling dozens of wildfires as temperatures soar above 40°C (104°F).

  • Spain is fighting 14 major blazes, including in Galicia, where fires have forced road closures and halted high-speed rail services to Madrid. This year alone, wildfires have burned an area roughly the size of metropolitan London.
  • Portugal has deployed nearly 4,000 firefighters to contain seven large fires, extending a state of alert through the weekend as hot, dry conditions persist.
  • Greece is struggling to control a wildfire on the island of Chios, now in its fourth day, while other regions remain on high alert after a series of destructive blazes earlier in the week.

Authorities warn that the extreme heat and low humidity will keep fire risks at dangerous levels into next week. The crisis has disrupted travel, forced evacuations, and cast a pall of smoke over popular tourist destinations.

This wave of destruction underscores the growing vulnerability of the Mediterranean to climate-driven extremes — a challenge that’s becoming harder to contain each summer.

Labels:

Comments

Post a Comment