Skip to main content

Featured

TSX Hits Record High as Iran Deal Lifts Markets — Daily Update, June 16, 2026

Oil tumbles on Strait of Hormuz reopening framework. All eyes on the Federal Reserve as Kevin Warsh chairs his first policy meeting. Here is everything moving Canadian wallets today. Tuesday, June 16, 2026  |  MoneySavings.ca 🇨🇦 TSX — Another Record on the Books The S&P/TSX Composite closed at a fresh all-time high on Monday, June 15, topping 35,398 intraday before finishing near the upper end of its range. The index is now up more than 11% year-to-date , the second-best performance among major global indexes tracked through mid-June — behind only Japan's Nikkei (+31%). Monday's rally was broad-based, fuelled by a surge in risk appetite following the announcement of a U.S.–Iran peace framework over the weekend. Energy, financials, and materials all participated, though energy stocks gained somewhat less than the others as crude oil prices simultaneously fell sharply on the Strait of Hormuz reopening news — a rare case where the same headline pushed the index up and one ...

article

Typhoon Kalmaegi Leaves 66 Dead as Cebu Struggles to Rebuild

A drone view shows a man crossing a muddy street where cars piled up after being swept away in floods brought on by Typhoon Kalmaegi which piled up at a subdivision in Bacayan, Cebu City.

The Philippines is reeling after Typhoon Kalmaegi (locally known as Tino) tore through the central region, leaving at least 66 people dead and dozens more missing. The hardest-hit province was Cebu, where floodwaters surged through urban centers, sweeping away vehicles, toppling homes, and leaving entire neighborhoods buried in mud and debris.

Authorities confirmed that 49 of the fatalities were from Cebu alone, with others reported in nearby provinces such as Bohol, Capiz, and Leyte. Rescue teams continue to search for survivors, while families sift through the wreckage of what once were their homes. In Talisay City, residents like Eilene Oken, 38, returned to find their houses completely destroyed. “We worked and saved for this for years, then in an instant, it was all gone,” she said, though she expressed gratitude that her family survived.

The storm struck communities still recovering from a recent earthquake, compounding the devastation. Streets remain choked with debris, and local officials warn that recovery will take months. Relief operations are underway, with emergency shelters set up for displaced families and aid groups distributing food, water, and medical supplies.

Civil defense officials described the flooding as “unprecedented”, with torrents strong enough to sweep away shipping containers and buses. The National Disaster Risk Reduction and Management Council has urged vigilance as more rains are expected in the coming days, raising fears of further landslides and flooding.

As the nation mourns, stories of resilience are emerging. Survivors are banding together to clear roads, salvage belongings, and support one another. Yet the scale of destruction underscores the urgent need for stronger disaster preparedness in a country that faces frequent and increasingly powerful storms.

In the aftermath of Typhoon Kalmaegi, the Philippines confronts not only the loss of lives but also the daunting task of rebuilding shattered communities.


Comments