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Monday’s CPI Could Decide Your Next Mortgage Payment

  Canada lost 68,000 jobs in September. Inflation is sitting at 3%. The Bank of Canada has to decide on October 28 which of those facts matters more, and on Monday morning one more number lands to help it choose. If you carry a variable-rate mortgage, a HELOC or a renewal this winter, that number has a price tag. Two reports pulling in opposite directions The jobs data came first. Statistics Canada reported on October 9 that employment fell by 68,000 in September, pushing the unemployment rate to 6.5% from 6.4%. It followed a drop of about 42,000 in August, which means more than half of the 181,000 jobs gained between April and July have now been wiped out. Ontario shed 20,000 positions on its own. Markets reacted within hours: the odds of a quarter-point Bank of Canada hike on October 28 dropped to roughly 25% from about 40%, according to LSEG data reported by Reuters. Inflation is telling the opposite story. The consumer price index rose 3.0% year over year in August, matching Ju...
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US Apologizes After Georgia Raid Detains Hundreds of Korean Workers

Members of the press interview a South Korean worker who was detained in a huge immigration raid last week at the site of a US car battery project involving Hyundai Motor and LG Energy Solution in the US state of Georgia, at the car park of the Incheon International Airport in Incheon, South Korea.

A senior U.S. diplomat has expressed “deep regret” over a recent immigration raid in Georgia that led to the detention of more than 300 South Korean workers at a Hyundai Motor battery plant. Deputy Secretary of State Christopher Landau met with South Korea’s First Vice Foreign Minister Park Yoon-joo in Seoul, where both sides agreed to use the incident as a turning point to strengthen bilateral ties and improve visa policies.

The workers, who returned to South Korea last week to emotional reunions, were detained during a large-scale operation that shocked the Korean public and strained relations between the two allies. Seoul has urged Washington to establish clearer guidelines for existing business visas and to create a new visa category for Korean professionals, especially those involved in major investment projects in the U.S.

Landau acknowledged the significant contributions of Korean companies to U.S. manufacturing and assured that the detained workers would face no disadvantages upon re-entry. Both governments pledged to expedite consultations to prevent similar incidents in the future, underscoring the importance of stable labor mobility in sustaining economic cooperation.

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