Good evening, let’s start with today’s top stories:
Campus officials said Columbia University would continue talks with pro-Palestinian protesters for another 48 hours, averting another confrontation between students and police, but the situation remains tense.
University President Minouche Shafik had set a midnight deadline to reach an agreement on clearing an encampment of protesters on campus but the school extended negotiations, saying it was making “important progress.” Student protesters had committed to dismantling and removing a significant number of tents, the New York Ivy League university said in a statement. As of Wednesday, about 60 tents remained at the encampment, which appeared calm, with students going in and out – one girl holding a toothbrush.
Student demonstrators occupy the pro-Palestinian "Gaza Solidarity Encampment" on the West Lawn of Columbia University on April 24, 2024 in New York City.Michael M. Santiago/Getty Images
Bank of Canada officials split on rate cut timing, but agree easing will be gradual
Bank of Canada officials say the pace of interest rate cuts will likely be gradual once they begin easing monetary policy – but are split on when to start lowering interest rates.
A summary of the discussions that took place ahead of the April 10 rate decision show members of the bank’s governing council are becoming more confident that inflation is on a path back to the 2-per-cent target. That’s opened the door to interest rate cuts in the coming months.
However, some members of the six-person council, which is chaired by Governor Tiff Macklem, remain wary about cutting interest rates too soon, in light of a jump in domestic demand and robust growth in the United States. That suggests a rate cut at the bank’s next meeting on June 5 is not a sure thing.
Read more:
Deputy Governor Carolyn Rogers looks on as Bank of Canada Governor Tiff Macklem speaks during a news conference following a rate announcement, April 10, 2024, in Ottawa.Adrian Wyld/The Canadian Press
As war depletes its ranks, Ukraine takes a new tack to bolster its military recruits
In anticipation of a major Russian offensive coming within weeks, Ukraine is making efforts to bolster its tired ranks. Earlier this month, President Volodymyr Zelensky made legislative changes to that aim, including the unpopular move of lowering the eligible draft age from 27 to 25, clarifying some exemptions and creating an online registry for recruits. He said recently that Russia is preparing to mobilize an additional 300,000 troops by June 1.
On Tuesday, Ukraine made an additional move by announcing the suspension of consular services for military-age men abroad until May 18. At the beginning of Russia’s full-scale invasion, Ukraine imposed martial law, which prevented men from the ages of 18 to 60 from leaving the country, unless they had a special exemption. But after years of bloody war, young men are ambivalent about going to the front lines. While they are united in their country’s resolve to fight, most who would volunteer already have. Those who are left are afraid, some of them angered by tactics used by officials to conscript them, such as issuing summonses in public places.
Training of recruits of the Third Assault Brigade at a training ground in Kyiv region on March 15, 2024.Olga Ivashchenko/The Globe and Mail
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ALSO ON OUR RADAR
Biden signs Ukraine aid, TikTok ban bills after months of wrangling with Republicans: President Joe Biden signed a hard-fought bill into law on Wednesday that provides billions of dollars of new U.S. aid to Ukraine for its war with Russia, notching a rare bipartisan victory for the president as he seeks reelection and ending months of wrangling with Republicans in Congress.
Ontario to permanently raise speed limit on 10 sections of highways across province: Transportation Minister Prabmeet Sarkaria says several sections of Highways 401, 403, 406, 416 and 69 will have a speed limit of 110 kilometres an hour.
The difference between disinformation and misinformation, and how to do your own analysis: Disinformation and misinformation are terms often used interchangeably. The key difference between them is intent.
How Montreal’s RodeoFX clawed its way to the top of the visual-effects business: Montreal’s RodeoFX clawed its way to the top of the visual-effects business one demon from hell, exploding wall and wading hippo at a time. And though it’s a scary time for the film industry, the company is barely breaking a sweat.
Metro’s quarterly profit drops 14.5% as grocer invests in improving supply chain: Metro Inc. reported a 14.5-per-cent decline in profits in its second quarter, as the company continues to face higher-than-usual expenses related to investments in its supply chain.
MARKET WATCH
Canada’s main stock index erased its gains from the day before as industrial and telecom stocks weighed on the market, while U.S. markets were mixed.
The S&P/TSX composite index closed down 138 points at 21,873.72.
In New York, the Dow Jones industrial average was down 42.77 points at 38,460.92.The S&P 500 index was up 1.08 points at 5,071.63, while the Nasdaq composite was up 16.11 points at 15,712.75.
Markets were off to a better start in the morning thanks to earnings from Tesla the evening before, but uncertainty over interest rates overtook earnings optimism as the day went on, said Pierre-Benoît Gauthier, assistant vice-president of investment strategy at IG Wealth Management.
“We have a good earnings season so far, but the rates are just spoiling the party,” said Gauthier. “I think that people are just on edge.”
Treasury yields rose ahead of two pivotal days for markets, with earnings from several of the biggest technology companies on the roster as well as U.S. GDP and the personal consumption expenditures index.
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TALKING POINTS
The Liberals weight-loss goal shows they are running out of options
“The Liberals are taking a big swing at winning back some support now, before it is too late. Sources told The Globe and Mail’s Marieke Walsh that Mr. Trudeau’s team are targeting a five-percentage-point narrowing of the Conservatives lead by July. But as many dieters know, the results don’t always match your goals. The obvious question is this: What will they do if they don’t meet them?” – Campbell Clark
Why measles vaccination needs to be a top priority
“Due to the longer incubation period, which averages 14 days to the start of a measles rash, most people travelling in and out of Canada won’t know they’ve brought the infection home until at least two weeks after they return. People are contagious from four days before the rash starts until four days after – leaving lots of time for the spread of the virus in our communities.” – Jessica Hopkins
Having no kids is a financial win, but what happens when you get old?
“Aging without the support of children may seem like a niche issue, but it’s not. More people are single today. And the high cost of living, notably housing, is persuading many young couples not to have children.” – Rob Carrick
LIVING BETTER
Why you should swap red meat with good-for-you fish. Plus: a recipe for sardine toast with purple onion and crispy capers
One of the most common ways to eat tinned sardines is straight from the can, but you can also enjoy them much the same way you would use canned salmon or tuna – in chowders, sushi rolls and lettuce wraps, or with mayo and chopped celery in sandwiches. A classic Sicilian pasta dish is made with fresh or canned sardines, toasted bread crumbs (you can toast them in the oil your sardines come packed in), garlic, lemon and parsley. Soft canned forage fish can be mashed with a fork, mixed with mashed potato and shaped into patties, then covered in panko or other bread crumbs and pan-fried, or smashed onto toast. With similar heart-healthy benefits and a lot more protein, perhaps sardine toast will be the new avocado toast?
TODAY’S LONG READ
Salman Rushdie on the attack that nearly killed him and the vulnerability of writing new memoir, Knife
Illustration by Stef Wong
Blinded in his right eye after a brutal stabbing, author Salman Rushdie wears spectacles with one blacked-out lens. His right cheek has a long scar. His left hand, whose tendons were all severed, is still stiff. Under a checked blue sport coat, he is noticeably thinner. With his sense of humour firmly intact, Rushdie speaks candidly with The Globe about his new memoir, Knife, his relationship with his wife, writing and his views on an increasingly dangerous world.
Evening Update is written by Emerald Bensadoun. 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.