Iran says 7 oil tankers are on fire or damaged in a key strait as fears grow of a return to war

Published: October 22, 2026 at 5:58a.m. EDTWorld shares and U. S. futures retreated on Thursday as oil prices jumped more than 2 per cent following a report by Iran’s state television that seven oil tankers caught fire and were damaged in the Strait of Hormuz. If the report is verified, it would be the largest number of vessels damaged in the waterway in a single day since the start of the Iran war on Feb. 28. Brent crude, the international standard, gained 3.2 per cent to US$112.27 per barrel. It has been bouncing between $97 and $112 in recent days on uncertainty about when the war with Iran will allow the global energy industry to return to normal. U. S. benchmark crude rose 2.8 per cent to $99.80 per barrel. In early European trading, Germany’s DAX shed 1.1 per cent to 25,367.96, while the CAC 40 in Paris declined 1.3 per cent to 7,816.67. Britain’s FTSE 100 was down 0.7 per cent at 10,678.67. The future for the S&P 500 lost 1 per cent and that for the Dow Jones Industrial Average was 0.7 per cent lower. In Asia, Tokyo’s Nikkei 225 lost 2.7 per cent to 62,907.84 on heavy selling of big tech companies like SoftBank Group, which lost 6.9 per cent.

OTTAWA — Canadian officials haven’t ruled out the possibility of a snap trade deal with the United States ahead of next month’s midterm elections, according to sources with direct knowledge of the talks. Though they cautioned that the hope remains faint. How to set CTV News as your preferred source on GoogleCanada-U. S. Trade Minister Dominic LeBlanc and Canadian Ambassador to the U. S. Mark Wiseman briefed Prime Minister Mark Carney’s Advisory Committee on Canada-U. S. Economic Relations on the state of play in a Thursday morning meeting, according to four sources with knowledge of the call. It marks the group’s first meeting since Sept. 4. The briefing comes a day after Carney said he spoke with U. S. President Donald Trump “for quite some time” on Wednesday morning. Carney said the two leaders discussed trade, the Iran war and the Middle East, though his office issued no formal readout of the call. Prime Minister Mark Carney speaks about Canada's response to new U. S. tariffs as Canada-U. S. Trade Minister Dominic LeBlanc and chief trade negotiator Janice Charette listen during a news conference on Parliament Hill in Ottawa on Saturday, Aug. 22, ...

Published: October 22, 2026 at 4:45p.m. EDTBNN Bloomberg is Canada’s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. VANCOUVER — Lululemon Athletica Inc. is appointing a former member of its executive team to its board to appease the retailer’s founder. The Vancouver-based apparel company says Tara Poseley, who served as the company’s chief product officer from 2013 to 2015, joined its board effective Monday. Poseley has more than 30 years of experience across specialty retail, apparel and beauty, the company said, having most recently served as chief executive of Paula’s Choice Skincare from 2016 to 2023. Before her first stint with Lululemon, she was senior vice-president and president of Kmart Apparel from 2010 to 2013. She also spent nearly 15 years at Gap Inc. where she held senior roles across product and marketing. Latest updates on company news here“I am honoured to join Lululemon’s board at this pivotal time for the company,” said Poseley in a news release. “I have a deep appreciation for Lululemon’s culture of innovation and commitment to creating exceptional products and guest experiences.

OTTAWA - More than 50 of Canada’s top scientists and scholars are warning that Prime Minister Mark Carney’s marquee legislation aimed at fast-tracking major projects needs to be amended, or the federal government is risking “costly and potentially irreversible harm,” to the environment. In an open letter published Thursday, 56 fellows from the Royal Society of Canada outline six specific amendments they say need to be made to Bill C-39, the Building Canada Strong Act. The scientific experts write that while they support the bill’s central aim of streamlining project assessments, there are several clauses within the legislation that need to be altered or scrapped entirely. They say the changes are needed for the government to keep its promise to protect species at risk, delicate ecosystems, natural resources and human well-being. “Bill C-39, as drafted, really puts aside a lot of the environmental regulations and laws that we have in place in Canada to protect nature and protect our waters, protect our air,” said Dr. Sarah Otto in an interview with CTV News.

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OTTAWA - More than 50 of Canada’s top scientists and scholars are warning that Prime Minister Mark Carney’s marquee legislation aimed at fast-tracking major projects needs to be amended, or the federal government is risking “costly and potentially irreversible harm,” to the environment. In an open letter published Thursday, 56 fellows from the Royal Society of Canada outline six specific amendments they say need to be made to Bill C-39, the Building Canada Strong Act. The scientific experts write that while they support the bill’s central aim of streamlining project assessments, there are several clauses within the legislation that need to be altered or scrapped entirely. They say the changes are needed for the government to keep its promise to protect species at risk, delicate ecosystems, natural resources and human well-being. “Bill C-39, as drafted, really puts aside a lot of the environmental regulations and laws that we have in place in Canada to protect nature and protect our waters, protect our air,” said Dr. Sarah Otto in an interview with CTV News.