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News of the day: Canada’s slumping auto industry, market warning signs, Tim Hortons hiring local, Bank of Canada in no rate cut rush, cottage country buyers and more

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It’s Monday, May 25. Here are the top stories we’re following today.

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A third of auto production in Canada has disappeared since the pandemic and challenges and competition mount daily. Can the industry survive?

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A trader works at his desk on the floor of the New York Stock Exchange (NYSE) in New York on May 19, 2026.

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When bond markets start reminding us of the Global Financial Crisis, investors need to protect themselves, writes Martin Pelletier.

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Tim Hortons restaurants owners' use of the Temporary Foreign Worker Program has already declined steadily since 2024, it said.

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Tim Hortons is planning to hire 10,000 new workers locally across its restaurants in Canada as the company reduces its reliance on the Temporary Foreign Worker Program, it said. The coffee chain on Monday launched a new hiring campaign, which follows its announcement last week that it plans to open 80 new restaurants within the year.

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U.S. President Donald Trump speaks to Kevin Warsh (L) after he was sworn in as the new Chairman of the Federal Reserve in the East Room of the White House on May 22, 2026 in Washington, DC.

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Kevin Warsh was sworn in as chair of the U.S. Federal Reserve on Friday and the big question for economists — and for the Canadian economy — may be just how dovish he intends to be on interest rates.

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