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The World Cup Promised $3.8 Billion — Here's What Canada Actually Got

       Monday July 13, 2026 FIFA promised Canada a $3.8-billion economic windfall for hosting the 2026 World Cup. Two weeks into play in Toronto, the receipts tell a very different story — and there's a lesson in it for anyone thinking a "big event" boost is coming to their city, their rental property, or their business. The Billion-Dollar Bill Came First Before a single ball was kicked, Canadian taxpayers were already on the hook. According to the Parliamentary Budget Office, governments across the country will spend roughly $1.07 billion hosting the 2026 tournament. Toronto alone budgeted $380 million to host six matches at BMO Field. British Columbia's tab for Vancouver's seven matches at BC Place came in even higher, at about $578 million. Ottawa is chipping in $473 million of that total — including $220 million in direct grants to Toronto and B.C., plus another $145 million earmarked for security costs during the tournament. Net of federal help, Toronto and B...
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Wall Street Slips as Inflation Pressures and Weak Consumer Sentiment Weigh on Markets

 

US stocks retreated from record highs on Friday as fresh economic data reignited concerns over inflation and consumer confidence. The Dow Jones Industrial Average fell about 0.3%, the S&P 500 lost 0.8%, and the tech-heavy Nasdaq Composite dropped more than 1.2%, led by a 3% slide in Nvidia shares.

A key Federal Reserve–watched gauge, the core Personal Consumption Expenditures (PCE) index, rose 0.3% in July and 2.9% year-over-year — the fastest annual pace since February and well above the Fed’s 2% target. Meanwhile, the University of Michigan’s consumer sentiment index fell to a three-month low, with respondents expecting higher inflation in the year ahead.

Despite Friday’s pullback, all major indexes were on track for their longest streak of monthly gains in over a year, buoyed by optimism that the Fed could still cut rates in September. Markets will pause for the Labor Day holiday before resuming trading next week.


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