Good evening, let’s start with today’s top stories:
Justin Trudeau shuffled his cabinet today in a major rejig of 23 changes that brought aboard seven new ministers.
Most of his 38-member cabinet now consists of new ministers or ones in different roles. Only eight are keeping their current jobs, including Minister of Finance and Deputy Prime Minister Chrystia Freeland, Innovation Minister François-Philippe Champagne and Foreign Affairs Minister Melanie Joly. The front bench still features an even split between men and women, continuing to fulfil Trudeau’s promise of a gender-balanced cabinet.
The big moves: Anita Anand goes from Defence Minister to Treasury Board President, heading the government’s fiscal operations. Sean Fraser goes from Immigration Minister to Minister of Housing, Infrastructure and Communities to take on the critical housing file. Bill Blair moves from Minister of Emergency Preparedness to take over National Defence from Anand.
Removed from cabinet: Marco Mendocino is no longer Public Safety Minister, replaced by Dominic LeBlanc, after the controversy around the transfer of serial killer Paul Bernardo to a medium-security prison. David Lametti is out as Justice Minister, replaced by Toronto MP Arif Virani, a new member of the cabinet who will take on filling judicial vacancies and following through on bail reforms. Mona Fortier is out as Treasury Board President, passing the baton to Anand.
- Konrad Yakabuski: The renewal theme rings hollow even as Justin Trudeau names seven new faces to cabinet
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Bank of Canada debated rate hikes in July, amid uncertainty about monetary policy impact
A summary of the discussions that led to the July 12 Bank of Canada rate hike show that Governor Tiff Macklem and his team were on the fence about further hikes.
A stronger than expected economy and measures of core inflation were too high. But the decision makers weren’t sure if this was because past rate increases were taking longer to work or because they weren’t restrictive enough.
Ultimately, the consensus was that “the cost of delaying action was larger than the benefit of waiting,” according to the summary of deliberations. The meeting minutes say nothing about what the bank will do at its next rate decision on Sept. 6.
The release of the meeting minutes were released as the Federal Reserve also raised interest rates by a quarter of a percentage point today.
RCMP in Nova Scotia continue search for youth lost in flood after three bodies recovered
The search continues for an 18-year-old who went missing last weekend in floodwaters northwest of Halifax. The police have already recovered the bodies of three other people, including a 52-year-old man and two children.
RCMP Cpl. Chris Marshall says crews have drained a lake’s worth of floodwater from the primary search site in Brooklyn, N.S. Meanwhile, Mounties have called off a search for a 31-year-old man who they believe was swept out to sea after a tubing incident on a Nova Scotia river.
The province has announced assistance for those who are struggling financially in the aftermath of the flooding, while the federal government has said it will replace key travel documents that were lost, free of charge.
Canada beats Ireland 2-1 in Women’s World Cup match
After a fourth-minute goal from Ireland captain Katie McCabe in a do-or-die World Cup match, an Irish own-goal levelled the playing field for Canada, who rallied in the second half to win 2-1.
The win gives Canada four points through two games and leaves it atop Group B, at least until co-host Australia plays Nigeria on Thursday.
Ireland, meanwhile, is eliminated after just two games in its first World Cup appearance. Canada now turns its attention to Australia, which it plays Monday in Melbourne.
- Missed the game? Here’s a play-by-play.
- Cathal Kelly writes: “Bringing out a couple of older, creakier players to revitalize a team that looked like it was already moving in slow motion took guts. The players scored the goals, but Ms. Priestman deserves special mention where credit’s concerned.”
Canada's Adriana Leon, center, celebrates after scoring her side's second goal during the Women's World Cup Group B soccer match between Canada and Ireland in Perth, Australia,, July 26, 2023.Gary Day/The Associated Press
ALSO ON OUR RADAR
Singer Sinéad O’Connor dies at 56: The Irish singer, known for 1990 chart topping hit Nothing Compares 2 U and for her outspoken views, has died at the age of 56, according to Irish media.
Controversial closure of Nigel Farage’s account leads to NatWest Bank CEO’s resignation: Farage has forced the boss of one of Britain’s largest banks to resign, after he was dropped as a client because of his views on Brexit and other issues.
Israel’s Supreme Court to hear appeal on judicial law: Israel’s Supreme Court said today it would hear an appeal against a new law that curbs some of its own powers, pitting it against Prime Minister Benjamin Netanyahu’s right-wing government.
Loblaw reports $508-million in second-quarter profit: Stubbornly high food prices should not be continuing to rise at their current pace, Loblaw executives say – making the argument that food manufacturers are to blame, and not store owners.
Meanwhile, in the U.S.:
- The plea deal in Hunter Biden’s criminal case fell apart after a federal judge raised concerns about the terms of the agreement, which has angered Republicans, who believe the son of the President is getting preferential treatment.
- The U.S. is concealing a long-standing program that retrieves and reverse engineers unidentified flying objects, a former Air Force intelligence officer testified today to Congress. The Pentagon has denied his claims.
Russian missiles strike targets in three Ukrainian regions: Moscow targeted the regions of Kyiv, Khmelnytskiy and Kirovohrad in a second missile strike on Ukraine, the air force said today.
MARKET WATCH
Dow scores 13-day winning streak as Fed leaves door open to further hikes
U.S. and Canadian stocks ended Wednesday little changed following a Federal Reserve rate hike that left the door open for future hikes. But the Dow closed slightly higher, enough to score a 13-day winning streak - its longest since 1987.
The Dow Jones industrial average was up 82.05 points or 0.23 per cent at 35,520.12. The S&P 500 index was down 0.71 points or 0.02 per cent at 4,566.75, while the Nasdaq composite was down 17.27 points or 0.12 per cent at 14,127.28.
The S&P/TSX composite index closed up 10.11 points or 0.05 per cent at 20,561.64.
The Canadian dollar traded for 75.64 cents US compared with 75.85 cents US on Tuesday.
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TALKING POINTS
Jason Aldean’s twisted American dream
“The singer knew exactly what he was doing when he recorded the inflammatory ditty Try That in a Small Town, and when he released its incendiary video. Try That is a threat and a promise; a taunt. It’s a call to action for vigilantism that carefully toes the dog-whistle line.” – Marsha Lederman
Canada risks letting Turkey off the hook, by prioritizing politics over arms control
“Any exemptions or relaxations around these arms control treaties driven by political expediency undermine the effectiveness of these regulations and erode trust in Canada’s commitment to a responsible arms trade.” – Cesar Jaramillo, Kelsey Gallagher
LIVING BETTER
Eight appealing cabernet sauvignons to buy now
A blend of cabernet sauvignon with 10-per-cent merlot, the polished and plush Decoy Cabernet Sauvignon is a nicely layered red wine with generous cherry and plum fruit flavours enhanced by vanilla and spice notes. You can buy it for around $40. If you’re looking for something in the $20 range, the Argentinian La Mascota Cabernet Sauvignon is a good bet. Made in a bright and balanced style, it has a ripe fruit character that is sure to please any crowd. See the rest of the recommendations from Christopher Waters.
TODAY’S LONG READ
My Greek holiday went from heaven to Hades. How can we vacation in the climate crisis?
A helicopter operates over a wildfire burning in Gennadi village, on the Aegean Sea island of Rhodes, southeastern Greece, on July 25, 2023.Petros Giannakouris/The Associated Press
“I was probably foolish to plan this family vacation. But Greece is always scorching in summer. So we rented a place with a pool on the island of Rhodes,” writes Tom Rachman.
“At first, all went well. We ate grilled octopus and tasted thyme honey, swam in our cooling little pool, surrounded by pine trees, the cicadas so loud you had to shout over them.”
“That cloud rising behind the beach hills, I dismissed. Who knew what that was? It was only when I planned the next day’s car trip on Google Maps that I grew concerned. A flame icon appeared in the middle of the screen: wildfires.” Read Rachman’s full account of his chaotic trip to Greece as they were stalked by the perilous consequences of climate change.
Evening Update is written by Prajakta Dhopade. If you’d like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.