News of the day: Big Six earnings upset investors, Trump’s $250 bill, Ferrari’s new EV reveal, homegrown AI chipmakers, Canada Post collective agreement and more
It’s Monday, June 1. Here are the top stories we’re following today. Read More
Princeton Endowment Backs Out of Oil and Gas Divestment Pledge
(Bloomberg) — Princeton University’s endowment is backtracking on its pledge to divest from publicly traded oil and gas companies, four years after it said it would exit such holdings as way to move toward a net-zero portfolio. Read More
The building industry applauds Ontario and federal governments for launching the DCs reduction program
Toronto, June 01, 2026 (GLOBE NEWSWIRE) — The Building Industry and Land Development Association (BILD) and the Ontario Home Builders’ Association (OHBA) applaud today’s announcement by the provincial and federal governments for the Canada-Ontario Municipal Development Charges Reduction Program. This program will enable Ontario municipalities to reduce development charges (DCs), while enabling continued investment in housing-supportive infrastructure through federal/provincial funding. Read More
Analysts Tell OPEC+ Hormuz Disruption to Last Through Year End
(Bloomberg) — Oil industry experts have told OPEC+ that supply disruption caused by the closure of the Strait of Hormuz will persist to the end of the year, even if the waterway reopens promptly. Read More
Bank of Canada Warns Against Overreacting to Techical Recession Indicator
(Bloomberg) — Bank of Canada Senior Deputy Governor Carolyn Rogers cautioned against concluding the country is in a recession after recent data showed the economy contracted for a second consecutive quarter. Read More
Oil Jumps on Report Iran to Halt Exchanges With US: Markets Wrap
(Bloomberg) — A renewed rally in oil prices drove bonds lower while stocks fluctuated as a report that Iran will halt talks with the US cast doubt on a ceasefire renewal. Read More
South Africa Gasoline Prices Hit Record With Relief Rollback
(Bloomberg) — South African gasoline prices are set to reach a record high this month after the government rolled back some temporary relief measures that had cushioned consumers against fuel-cost increases sparked by the Iran war. Read More
Iran Halts Talks With US and Threatens Full Hormuz Closure
(Bloomberg) — Iran said it would suspend negotiations with the US in protest for Israel’s offensive in Lebanon, escalating tensions at a time when Washington and Tehran have been working on the terms of an interim peace deal. Read More
Oil Jumps on Report Iran to Halt Exchanges With US: Markets Wrap
(Bloomberg) — A renewed rally in oil drove bonds lower while stocks fluctuated as a report that Iran will halt talks with the US cast doubt on a ceasefire renewal. Read More