Canadian economy stalls, Tim Hortons dials back TFW program and Bay Street titans’ mortality hacks: Must-read business and investing stories
The Canadian economy has contracted for two consecutive quarters, raising concerns about a potential technical recession. Tim Hortons plans to reduce its reliance on the Temporary Foreign Worker program and hire 10,000 local workers amid high youth unemployment. Meanwhile, Canada's major banks reported strong second-quarter earnings, defying economic uncertainty and boosting investor confidence.
- ▪Canada's economy contracted 0.1 percent in the first quarter of the year, following a 1 percent decline in the fourth quarter of 2025.
- ▪Tim Hortons will hire 10,000 local workers and reduce its use of the Temporary Foreign Worker program.
- ▪All six major Canadian banks reported higher profits in their second-quarter earnings, exceeding analysts' expectations.
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Open this photo in gallery:Employees work at a Glencore-owned copper refinery in Montreal, in 2025.ANDREJ IVANOV/AFP/Getty ImagesShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountGetting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis on the biggest headlines, stock tips, personal finance strategies and more.Canadian economy stalls, posting consecutive quarterly declinesCanada’s economy contracted 0.1 per cent on an annualized basis in the first quarter of the year, Statistics Canada data reported Friday, as the country struggles to grow in the face of trade tensions with the United States.
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