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5 Things to Know Today: Canada Enters Recession, Oil Slips on Iran Ceasefire Talk

Saturday, May 30, 2026 — Your quick-hit Canadian financial briefing for the day. 1.Canada Officially Meets the Definition of a Technical Recession Statistics Canada confirmed Friday that real GDP contracted 0.1% on an annualized basis in Q1 2026 — following a revised 1.0% drop in Q4 2025 . That's two straight quarters of negative growth, which meets the technical definition of a recession. The miss was a big one: economists had forecast growth of 1.5% . The main culprits were a surge in imports (up 2.9%, largely gold), declining business capital investment (down 0.7% — its fifth consecutive quarterly drop ), and weakness in resource extraction and construction. On a per-capita basis, GDP actually edged up 0.2% as Canada's population shrank for the second quarter in a row. Not everyone is ready to call it a full recession: some economists note that three of the four weak months were isolated, and early April data points to a sharp 0.4% rebound . Still, the numbers ...
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U.S. Captures Maduro as Trump Announces Temporary American Control of Venezuela

      Men watch smoke rising from a dock after explosions were heard at La Guaira port in Venezuela on Jan. 3.  


In a dramatic overnight military operation, the United States captured Venezuelan President Nicolás Maduro, prompting President Donald Trump to declare that Washington will temporarily “run” Venezuela during a transitional period. The operation involved coordinated air, land, and sea strikes across multiple regions of the country, with explosions and low‑flying aircraft reported in Caracas and other major cities.

Maduro and his wife, Cilia Flores, were taken into U.S. custody by American special operations forces and transported aboard the USS Iwo Jima. Both are expected to face criminal charges in New York, including narco‑terrorism and weapons offenses.

Speaking from Florida, Trump described the assault as unprecedented in scale and said the United States would oversee Venezuela until a “safe and proper” transition to new leadership is established. He added that a second wave of military action was prepared if needed, though he suggested it might not be necessary.

Venezuelan officials denounced the operation as an imperialist attempt to seize control of the nation’s oil‑rich resources, urging citizens to mobilize. Reports from Caracas described unrest, protests, and symbolic acts of defiance as news of Maduro’s capture spread.

The international community is closely monitoring the situation as the U.S. assumes temporary administrative control, marking one of the most consequential geopolitical interventions in recent history.


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