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From a rate hold to a sovereign wealth fund — here's what's moving the needle on your finances right now. 01 — DEADLINE Today is the tax filing deadline — and your refund may be a lifeline April 30 is the last day most Canadians can file their 2025 income tax return without penalty. With the cost of living still squeezing household budgets, many Canadians are counting on their refund as a financial cushion. Filing late triggers a 5% penalty on any balance owing, plus 1% for each additional month. If you haven't filed yet, the CRA's NETFILE portal is still open — act before midnight. 02 — INTEREST RATES Bank of Canada holds steady at 2.25% — no relief yet for borrowers The Bank of Canada kept its policy rate at 2.25% yesterday — the third consecutive hold of 2026. Governor Tiff Macklem cited rising inflation driven by higher global energy prices tied to the Middle East conflict, while U.S. tariffs continue to weigh on exports. CPI inflation climbed to 2.4% in Ma...

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U.S. Clarifies Nuclear Testing Plans: No Explosive Detonations Ahead

 

President Donald Trump points before boarding Air Force One at Palm Beach International Airport in West Palm Beach Fla., on his way back to the White House following a weekend at his Mar-a-Lago estate.

The U.S. Department of Energy has clarified that upcoming nuclear weapons tests will not involve live nuclear explosions, despite recent directives from President Donald Trump that initially sparked global concern. Energy Secretary Chris Wright emphasized on Sunday that the planned activities are “system tests”—evaluations of all other components of nuclear weapons except the detonation itself.

Wright explained that these are “non-critical explosions”, designed to ensure that the weapons’ systems function correctly and can properly set up a nuclear blast if ever required. He reassured the public that no mushroom clouds or live detonations are expected, particularly at historic test sites such as the Nevada National Security Site.

The clarification comes after President Trump announced that he had instructed the Department of Defense to restart nuclear weapons testing “on an equal basis” with rival powers. The statement led to confusion over whether the U.S. was preparing to break its decades-long moratorium on explosive nuclear testing. Wright’s comments mark the first official confirmation that the moratorium remains intact for now.

The Energy Secretary also noted that the tests are intended to support the development of replacement nuclear weapons systems, ensuring they are more reliable than previous generations. By focusing on system functionality rather than explosive detonations, the U.S. aims to maintain its nuclear arsenal’s credibility without escalating tensions through visible nuclear blasts.

While Wright’s remarks may ease immediate fears of a return to Cold War–style nuclear detonations, the broader debate over nuclear modernization and arms competition remains unresolved. Critics argue that even non-explosive testing signals a step toward renewed nuclear brinkmanship, while supporters insist such measures are necessary to guarantee national security in an era of rising global competition.

In short, the U.S. government has confirmed that no nuclear explosions are planned at this time, though the renewed focus on weapons testing underscores the delicate balance between deterrence, diplomacy, and global stability.


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