The scenic town of Jasper, Alta., was devastated in a wildfire that engulfed Jasper National Park, Joe Biden addressed the nation for the first time after announcing he won’t run for re-election as U.S. president and the Earth set back-to-back records for the hottest day ever.
Plus, the Bank of Canada made its second back-to-back interest rate cut — and signalled more may be on the way.
Here’s a look at some of the biggest news stories that happened this week.
Jasper
Jasper wildfires: Why rebuilding Alberta town may be ‘logistical nightmare’
As wildfires ripped through Jasper this week, there are growing concerns about the immediate toll on the community and the “logistical nightmare” of recovery that lies ahead.
Warren Singh, executive director of the Alberta Construction Association, said it is too soon to fully understand the extent of the damage and just assessing those could take up to six months.
Pointing to the example of Alberta’s Fort McMurray, which was swept by a ferocious 2016 wildfire, Singh said recovery for Jasper could also take five years or longer, depending on the damages.
He said rebuilding communities like Jasper could be a “logistical nightmare,” involving sorting out what is needed in terms of cleanup, critical infrastructure damage and reckoning with the effects of blazes on the local environment.
- Scotiabank resolves ‘technical issue’ that left customers without paycheques
- Jasper volunteer firefighter watches as home burns to the ground: ‘That fire was rolling’
- ‘All the ash falling’: Jasper evacuees share stories of escaping wildfire
- Russia’s economy is struggling from sanctions, western officials say. Here’s why
Jasper wildfire: Here’s how quickly flames engulfed a town
It took less than two days for fast-moving wildfires to reach the town, where multiple structures were burned Wednesday night.
Parks Canada first reported two wildfires burning within Jasper National Park — one north of the townsite, the other south — late Monday night. Before the night was over, the entire town and park were ordered to evacuate as crews struggled to combat the flames being whipped up by high winds and dry conditions.
About 25,000 people were evacuated from the park, including roughly 5,000 residents of the resort town.
By Wednesday evening, both wildfires had encroached on the townsite and merged into one fire.
How to navigate filing insurance claims after a wildfire
While the extent of damage is unclear, the images and videos coming in from the wildfire destruction in Jasper, Alta., paint a bleak picture.
Evacuations were carried out before the fire reached the townsite and as more information becomes available over the coming days, many will be looking to navigate what comes next if their homes, properties or businesses have been hit.
But the process of filing insurance claims can often feel hard to navigate. Experts say the first step is simple: reach out to your broker.
Business and finance
How will the Bank of Canada rate cut affect your mortgage?
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Canadians with mortgages and those gearing up for a run at the housing market have plenty of decisions to make after back-to-back interest rate cuts from the Bank of Canada.
The central bank delivered a 25-basis-point rate cut on Wednesday, bringing its policy rate to 4.5 per cent. That feeds into the prime lending rates of major banks in Canada, which fell to 6.7 per cent in the wake of the decision.
On the mortgage front, some Canadians will immediately see their next monthly payments reduced.
Loblaw boycott had ‘minor’ impact on sales, CEO Per Bank says
The boycott of Loblaw stores in May had only a “minor” financial impact on Canada’s largest grocers, according to the company’s CEO.
Loblaw Co. Ltd. reported second-quarter earnings on Thursday, including the month of May, which saw the grocer targeted in a grassroots boycott campaign venting frustrations over rising grocery prices.
Loblaw CEO Per Bank was asked about the impact of the movement during an earnings call accompanying the earnings. He said “the overall financial impact was minor.”
4 in 10 U.S. companies posted a fake job this year. Why?
With Canada’s labour market seeing a rise in the unemployment rate, Canadians are searching for jobs but a new survey may signal a warning for seekers: some postings by legitimate companies may not even be real.
The survey, commissioned by career website Resume Builder and conducted by Pollfish in May, found about 40 per cent of companies had posted what was considered a “fake” job this year and three in 10 companies had what it described as active fake listings.
According to the career site, unlike a scam job posting, a fake listing is when a legitimate company posts a listing for a position it “didn’t intend to fill,” meaning even if you got an interview there was no chance you’d get the job.
U.S. elections
Biden says time to ‘pass the torch’ in 1st remarks after ending campaign
U.S. President Joe Biden said Wednesday it’s time to “pass the torch” to a new generation of leaders while continuing to fight for his priorities during the remainder of his presidency, after deciding not to run for re-election.
In a primetime address from the Oval Office that sometimes felt like a farewell — his first public remarks since announcing he would end his campaign on Sunday — Biden defended his record and said it was the “privilege of my life” to serve in politics for five decades. He also touted his Vice-President Kamala Harris, whom he has endorsed to succeed him as the Democratic nominee to face Donald Trump in November’s election.
“I revere this office,” he said, reflecting on the presidents that came before him. “I love my country more.”
How rare is Biden’s decision not to run again? A look at other ‘1-termers’
Joe Biden’s decision to drop out of the 2024 presidential race places him on a small list of U.S. presidents who were able to run again but chose not to.
Biden announced his withdrawal on Sunday, after weeks of pressure to step aside, forcing the Democratic party to weigh a new nominee to take on Donald Trump just months before the election.
“It simply is unprecedented for a party’s candidacy to kind of blow up in this way,” University of Toronto political science professor Ryan Hurl said.
Trump vs. Harris? Here’s what recent polls say about the potential match-up
With Joe Biden stepping down and endorsing Kamala Harris for the United States presidency, the 2024 election landscape has taken an unexpected turn.
But what do recent polls reveal about Donald Trump’s chances against his potential new competitor? The results are mixed: some polls show Democrats hold a favourable view of Harris, while others suggest a tight race between her and Trump.
Health and environment
The Earth set a record for hottest day ever – then broke it 1 day later
July 21 set the record for the Earth’s hottest day on record – a record that was broken the very next day on Monday, July 22.
According to the EU’s Copernicus Climate Change Service (C3S) data, the daily global average temperature on Sunday reached a new record high at 17.09 C, slightly exceeding the previous record of 17.08 C from July 6, 2023.
The record stood for one day.
On Monday, the daily global average temperature reached a new record high at 17.15 C.
As e-scooter use grows, ER doctors say they’re seeing ‘devastating’ injuries
Hitting the streets from Vancouver’s west coast to Nova Scotia’s eastern shores, electric scooters are zooming into Canadian cities, embraced as a convenient and eco-friendly mode of transportation.
However, this newfound popularity comes with growing safety concerns, as emergency room physicians warn about the dangers of using e-scooters due to a reported increase in related injuries.
“As emergency physicians across the country, we’re seeing incredible injuries from e-scooters,” Toronto-based emergency physician Dr. Raghu Venugopal said.
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