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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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Hong Kong Police Target Construction Firm After Deadly Wang Fuk Court Fire

Smoke rises from residential buildings as fires continue to burn at Wang Fuk Court in the Tai Po district of Hong Kong, China, on Thursday, Nov. 27, 2025.

Hong Kong police have raided the offices of a construction company linked to the catastrophic blaze at Wang Fuk Court in Tai Po, which has become the city’s deadliest fire in decades. The inferno, which erupted on November 26, tore through multiple high-rise towers, killing at least 55 people and leaving nearly 300 residents missing.

Authorities revealed that the company under investigation had been conducting maintenance work at the housing estate, including the installation of bamboo scaffolding and foam materials that may have accelerated the spread of the flames. Police have already arrested three men on suspicion of manslaughter, citing gross negligence in the use of unsafe construction materials.

The fire, which engulfed seven of the estate’s eight towers, displaced thousands of residents and overwhelmed emergency services. Survivors described chaotic evacuations, with many trapped on upper floors as thick smoke and intense heat blocked escape routes.

Hong Kong’s Chief Executive John Lee announced a HK$300 million relief fund to support victims and pledged a full investigation into construction safety standards across the city. Officials are also considering phasing out bamboo scaffolding in favor of metal alternatives to prevent similar tragedies.

The raid marks a critical step in holding those responsible accountable, as public anger mounts over the scale of the disaster and the apparent negligence that contributed to its deadly toll.

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