Trade talks stall: What's next for Canada-U.S. relations?
Trade analyst Jacques Shore unpacks the fallout of Canada and the U.S. missing a trade deal deadline, and what leverage Canada may still hold.
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CBC
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Trump dismisses weak jobs numbers as 'rigged' and fires labour statistics chief
U.S. President Donald Trump fired the U.S. commissioner of labour statistics after weak jobs numbers signaled tariffs weren't yet leading to his promised economic boom.
Canada News.Net
25 minutes ago
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Tower Fire triggers mass evictions from partitioned Dubai apartments
DUBAI, U.A.E.: In the shadow of Dubai's gleaming towers and opulent penthouses, authorities have launched a sweeping campaign against illegal subletting, ordering thousands to vacate makeshift dwellings in overcrowded apartment buildings. The clampdown follows a major fire in June at a 67-story residential tower, which forced the evacuation of more than 3,800 residents. Officials blamed partitioned units for contributing to fire hazards and have begun aggressively enforcing housing regulations. Egyptian migrant worker Hesham has lived in a two-bedroom flat carved up to fit 10 men. His "room" is a closet-sized space barely wide enough for a mattress. At US$270 a month, it was all he could afford — until now. For low-paid migrant workers who power Dubai's service and construction sectors, the campaign has triggered panic. Many now fear eviction or fines, with no clear alternative for affordable housing in a city built for the wealthy. "We don't know what we'll do," said Hesham, 44, a salesman who spoke to the Associated Press under a first-name-only condition, fearing reprisals. "We don't have any other choice." Dubai's population has surged to nearly four million and is projected to reach 5.8 million by 2040. Much of the city's real estate boom caters to affluent expatriates, with luxury high-rises and million-dollar properties multiplying. According to real estate firm Knight Frank, nearly 20 percent of homes in Dubai were worth more than $1 million as of last year. Meanwhile, short-term rental prices are forecast to rise another 18 percent by the end of 2025. That growth has left a large portion of the city's residents — mostly migrants from Asia and Africa — priced out of legal housing. Many earn just $300 to $550 a month, and rely on partitioned flats or communal bunk-bed arrangements that cost as little as $100. By contrast, a one-bedroom legal unit averages around $1,400 a month, per Engel & Völkers. Migrant workers typically send a significant portion of their earnings home, leaving them with little for housing. While UAE law mandates employers to provide accommodation for workers earning under $400 monthly, many are employed informally, beyond the reach of regulation. "The crackdown will raise housing costs and create a lot of stress for people whose lives are already precarious," said Steffen Hertog, a Gulf labor expert at the London School of Economics. The June blaze that triggered the latest crackdown occurred in Dubai Marina, an upscale district. Police reported 532 occupied units in the tower — an average of seven people per apartment. While no significant injuries were reported, the incident highlighted the risks of over-occupied and partitioned homes. A deadlier fire in 2023 in Dubai's old Deira neighborhood claimed 16 lives and injured nine more. That apartment, too, had been illegally subdivided. Dubai Municipality issued a statement saying the new inspections are intended to "ensure the highest standards of public safety" and improve tenants' quality of life. It did not respond to questions about where displaced low-income residents are expected to go. For Ebony, a 28-year-old migrant from Ghana, the crackdown meant losing her shared loft space — a plywood bunk above a narrow cot. "They said we had to leave immediately," she recalled. "Now I sleep on a friend's floor. I don't know what comes next." With begging outlawed, labor unions banned, and no minimum wage guarantees, workers like Ebony and Hesham are left in limbo. Dubai's shimmering skyline offers little shelter for those who built it.
Globe and Mail
42 minutes ago
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Online banks can be problematic when it comes to this type of transaction
Earlier this month, I wrote about how I ditched my Big Six bank in favour of an online upstart. It made my banking more streamlined, and I save on fees. The responses were overwhelmingly positive. Readers chimed in about how they'd done the same and were surprised more people haven't caught on. But one e-mail caught my eye. Nancy Robertson, vice-president of sales at Sotheby's International Realty Canada, said she has seen multiple home sales nearly fall through because a client only had an online account. She knew of roughly 10 cases in the past year in which an online bank led to issues for people closing on a home because wire transfers took longer, banking staff were difficult to reach or the company had difficulty completing the kind of large transfers required in a real estate deal. (They all managed to close in the end, albeit sometimes with delays.) 'In our experience, it's been an issue every time,' Ms. Robertson said. 'We now ask our clients who they bank with.' Bank drafts – the standard way to make closing payments on a home purchase – are one major source of difficulty. They're available instantly at in-person banks but can take multiple days to be couriered by some online banks. Ms. Robertson said she tells clients with online banks to make alternate arrangements, such as relying on a family member to make a large fund transfer. I can relate. When I bought my first home a couple of years ago, I had to make a mad dash to my brick-and-mortar bank to get a last-second bank draft. But considering how infrequent these kinds of big purchases are, I decided switch anyway. There are also some workarounds. For example, Simplii Financial is one of the few online banks that can generally provide a rush order for a bank draft within a day. Instead of waiting for it in the mail, clients can pick it up from a CIBC branch. (CIBC owns Simplii and also allows Simplii customers to use its ATMs for free.) Meanwhile, EQ Bank spokesperson Maggie Hall said the pending introduction of a real-time payment system in Canada should solve this issue. Real-Time Rail, an instant payment system that will allow funds to be moved seamlessly between institutions 24/7, has been under development for years in Canada. The technology is finally set to begin testing in the fall.
