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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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Lukoil Moves to Divest Global Holdings Amid Escalating Sanctions

                            General view of Orsknefteorgsintez oil refinery in the Orenburg region.


Russia’s second-largest oil producer, Lukoil, has announced plans to sell off its international assets in response to a fresh wave of Western sanctions targeting the company and its subsidiaries. The move marks one of the most significant corporate retreats by a Russian energy giant since the start of sanctions linked to the war in Ukraine.

In a statement, Lukoil said the decision was made “owing to the introduction of restrictive measures” and confirmed that it has already begun considering bids from potential buyers. The sales process is being conducted under a U.S. Office of Foreign Assets Control (OFAC) wind-down license, which allows the company to continue operating its overseas businesses temporarily while transactions are finalized. Lukoil also indicated it may seek an extension of this license to ensure uninterrupted operations during the transition.

The company’s international portfolio is extensive, spanning refineries in Italy and the Netherlands, as well as upstream projects in Iraq, Uzbekistan, and West Africa. Its largest foreign holding is a 75% stake in Iraq’s West Qurna-2 oil field, one of the world’s biggest reserves.

The sanctions, imposed by the United States and Britain in October 2025, targeted both Lukoil and Rosneft, along with dozens of subsidiaries and shipping assets, in an effort to further restrict Russia’s energy revenues. Analysts suggest that the forced divestment could reshape global energy markets, particularly in Europe, where Lukoil has maintained a strong downstream presence.

While the company has not disclosed potential buyers, industry observers expect interest from Middle Eastern and Asian firms seeking to expand their global footprint. However, the sales process is likely to be complicated by the sanctions regime, which could deter Western-linked bidders.

Lukoil’s decision underscores the growing pressure on Russian energy companies as sanctions continue to tighten, forcing them to scale back international ambitions and refocus on domestic operations.


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