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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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Air Transat Faces Flight Disruptions as Pilot Strike Looms

 

Air Transat has announced it will begin suspending flights starting Monday, December 8, following a strike notice issued by the Air Line Pilots Association (ALPA), which represents approximately 700 of the airline’s pilots. The union delivered a 72-hour strike notice on December 7, meaning pilots could walk off the job as early as 3 a.m. on Wednesday, December 10.

The strike threat comes after nearly a year of negotiations between the pilots and Transat A.T. Inc., the Montreal-based parent company of Air Transat. Pilots are demanding a “modern contract” that includes industry-standard pay, benefits, work rules, and job security to replace their current agreement, which dates back to 2015.

Air Transat has confirmed that it will gradually suspend flights between December 8 and 9 in preparation for the potential work stoppage. The airline emphasized that it is working around the clock to reach a deal and minimize disruption for passengers, but acknowledged that cancellations are inevitable if no agreement is reached.

Union leaders have stated that while they hope to avoid a strike, they are prepared to take action if negotiations fail. “Unless significant progress is made at the bargaining table, we will strike if that’s what it takes to achieve a modern contract,” said Captain Bradley Small, Chair of the Air Transat Master Executive Council.

The timing of the dispute is particularly challenging, as it coincides with the busy holiday travel season. Passengers scheduled to fly in the coming days are being advised to monitor updates from Air Transat and check for rebooking options or refunds.

This strike marks another major disruption for Canada’s aviation industry in 2025, following earlier labor actions at Air Canada. With negotiations ongoing, travelers and industry observers alike are watching closely to see if a last-minute resolution can avert a full shutdown of Air Transat’s operations.

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