Canadian Prime Minister Mark Carney has turned his decision to hold firm against President Trump's tariff threats into a rallying point for Canadians as their trade clash escalates.
Why it matters: The mild-mannered former Bank of Canada and Bank of England governor is holding firm against Trump despite the threat of further economic pain for Canadians.
Treasury Secretary Scott Bessent announced on Monday that the U.S. will impose punishing sanctions on countries and entities that do business with Iran — an attempt to bring the country to heel absent renewed military strikes.
Why it matters: The plan, which Bessent dubbed "Operation Economic Outcast," is aimed at ratcheting up pressure on the Iranian regime amid the current "no war, no deal" limbo.
America's path to lower inflation depends in part on trade wars and actual wars becoming less economically disruptive. In recent days, both have taken turns that threaten the opposite.
Why it matters: A period of relative calm on those fronts is now giving way to renewed tensions, with Canada, China and Iran all posing fresh economic risks.
Chinese fast-fashion giant Shein plans to raise up to around US$1.8 billion in its Hong Kong IPO. At the high end of its proposed range, the company would have a $26.8 billion market cap.
Why it matters: This would establish Shein as one of the world's most valuable public clothing companies, but it's still a massive disappointment for many of its VC backers.
A long-predicted energy shock is finally showing up in sky-high prices for diesel fuel.
Why it matters: Diesel fuel is a key input for virtually anything grown or transported throughout the U.S., making it a potentially inflationary force.
High-level Israeli and Syrian officials met Sunday in an effort to lower the temperature between the countries after a recent airbase bombing, according to three sources with knowledge of the matter.
Why it matters: The meeting between Syrian Foreign Minister Asaad al-Shaibani and the director of Israel's Mossad spy agency, Roman Gofman, took place days after an Israeli strike on a Syrian airbase sharply escalated tensions between the two countries.
