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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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Trump Pledges U.S. Role in Ukraine Security as Peace Talks Advance

 

US President Donald Trump and Ukrainian President Volodymyr Zelenskiy meet at the Oval Office of the White House, amid negotiations to end the Russian war in Ukraine.


In a high-profile Oval Office meeting on Monday, U.S. President Donald Trump told Ukrainian President Volodymyr Zelenskiy that the United States would assist Europe in providing security guarantees for Ukraine as part of a potential peace agreement to end the war with Russia.

The discussion, attended by leaders from Britain, Germany, France, Italy, Finland, the European Union, and NATO, marked a shift in tone from the pair’s tense February encounter. Trump signaled openness to supporting Ukraine’s security — even hinting at possible U.S. peacekeeper involvement — while also suggesting that a ceasefire was not a prerequisite for a broader peace deal.

Zelenskiy welcomed the U.S. commitment, calling security guarantees “very important” and expressing hope that combined American and European support could compel Russia toward “real peace”. Trump also floated the idea of a trilateral summit with Russian President Vladimir Putin, though Moscow has yet to commit to such talks.

The meeting comes amid concerns from Kyiv and its allies that Washington could push for terms more favorable to Moscow, especially after Trump’s recent summit with Putin in Alaska. Still, the presence of European leaders in Washington was seen as a show of unity and an effort to keep Ukraine’s interests front and center in any negotiations.

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