Good evening, let’s start with today’s top stories:
Israel’s envoy in Canada has joined calls for Ottawa to clear up its stand on South Africa’s genocide case in the International Court of Justice. Prime Minister Justin Trudeau hasn’t said whether Canada agrees with the allegation, or even if the federal government would recognize the court’s ruling if it finds Israel guilty of genocide.
Meanwhile Israeli Prime Minister Benjamin Netanyahu said today that he has told the United States that he opposes the establishment of a Palestinian state as part of any postwar scenario, marking a deep division between the close pair of allies. The U.S. has previously called on Israel to scale back its military offensive, and U.S. officials have also said the establishment of a Palestinian state should be part of the “day after.”
- In Davos, Switzerland, Israel’s President calls ties with Saudi Arabia key to ending war in Gaza
- U.S. forces strike Houthi sites in Yemen as Biden says allied action hasn’t yet stopped ship attacks
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NATO to launch its largest war games in decades to test fighting capabilities against adversary like Russia
NATO is kicking off its largest war games since the Cold War, essentially a rehearsal of how U.S. troops could back up European allies in countries bordering Russia and on the alliance’s eastern flank if a conflict were to emerge with a “near-peer” adversary. Canada will send 1,000 armed forces personnel for the Steadfast Defender 2024 drills, where around 90,000 troops will participate through May.
NATO’s Chris Cavoli said the drills would rehearse how it would respond to a Russian attack, Reuters reports. While NATO didn’t mention Russia by name in its announcement, a document identifies the country as the most significant and direct threat to the alliance’s security.
Pakistan fires retaliatory strike at Iran, stoking regional tension
Pakistan launched strikes on separatist militants inside Iran today, with Iranian media reporting the missiles hit a village on the Iran-Pakistan border and killed at least nine people, including two children. Two days ago, Tehran said it struck the bases of a group within Pakistani territory.
The tit-for-tat strikes have raised alarm over wider instability in the Middle East since the war between Israel and Hamas erupted last October. But both Pakistan and Iran seem to be signalling a desire to keep the situation contained, with Iran’s foreign ministry saying today it was committed to good relations with its neighbour. Pakistan issued a similar statement.
- Explainer: A look at what is behind Iran and Pakistan’s air strikes
ALSO ON OUR RADAR
The most common scams affecting Canadians in 2024: Got a call about duct cleaning? Someone rang to say your package is stuck? A disembodied voice over the phone claims you owe taxes? Here’s a list of the most common scams taking place, what to keep an eye on, and how to protect yourself.
B.C. weather: Public schools in Vancouver and the Fraser Valley were shut for a second day today, a day after a snowstorm wreaked havoc in southern British Columbia. Environment Canada recorded 28 centimetres of snow at Vancouver International Airport yesterday, the most in one day since 1996.
- Four children with strep A have died in B.C. in the past month, disease centre says
Chasing the dough: A pair of former Bank of Montreal executives once founded a Toronto bakery. Now they mark their return to Bay Street with a boutique investment advisory firm focused on families and high-net-worth Canadians.
Flight delayed? Baggage lost?: Here’s when and how to file for compensation if your flight is delayed or your bags are nowhere to be found.
Cellphone policy in schools: The Toronto District School Board is eyeing creating a new policy to restrict the use of cellphones and social media by students in schools.
Nuclear talks with Russia: Russia’s Foreign Minister turned down an American proposal to resume talks on nuclear arms control. Sergey Lavrov said such a move is impossible while the U.S. militarily supports Ukraine.
Royal Family health watch: The pair of health announcements from Britain’s Royal Family yesterday highlighted the tricky issue of publicizing health scares for the closely watched family.
What to watch this weekend: From Fallen Leaves on MUBI to Richard III on the Stratford Festival’s digital service, here are your best bets for some quality weekend streaming.
MARKET WATCH
U.S. stocks ended higher today while strength in industrial stocks helped Canada’s main stock index post a small gain.
The S&P/TSX composite index closed up 61.71 points at 20,756.73. The Dow Jones industrial average was up 201.94 points at 37,468.61. The S&P 500 index was up 41.73 points at 4,780.94, while the Nasdaq composite was up 200.03 points at 15,055.65.
The Canadian dollar traded for 74.05 cents US.
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TALKING POINTS
The Liberals’ half-measures won’t fix a broken immigration system
“The government needs to stop with the trial balloons, musings and half-measures and instead lay out a comprehensive plan for restoring Canadians’ wavering confidence in the immigration system, beginning with serious reform of temporary migration.” – Globe editorial
Alberta’s electricity crisis has ramped up already-high tensions with the feds on energy
“Electricity is generally considered to be the purview of the provinces. But even on the ground, there should be recognition that Alberta has legitimate concerns about costs and grid reliability, and deep skepticism about whether Ottawa can get the details right in a province where the federal Liberals have little skin in the game.” – Kelly Cryderman
Of course, Gen Zs and millennials can retire comfortably. Here are five steps to make it happen
“Early contributions to retirement savings are outstandingly helpful, but hard to manage in a time of inflation and high housing costs. It can be just as productive to invest some time in retirement planning at a young age, even a couple of hours.” – Rob Carrick
In Marvel’s Echo, Hollywood gets representation right
“Hollywood’s portrayal of First Nations people has been legendary in its ridiculousness, causing much harm when it was perpetuated and repeated in countless spaghetti Westerns and cartoons.” – Tanya Talaga
LIVING BETTER
Give your RRSP a big boost every year without needing more cash
Who should take advantage of the RRSP gross-up strategy? Anyone who wants to make an RRSP contribution for 2023 in the first 60 days of this year, has less cash on hand than they’d like to contribute, and has sufficient RRSP contribution room.Sean Kilpatrick/The Canadian Press
There’s a way to give a big boost to your RRSP contribution each year without needing to kick in more cash. Tim Cestnick writes about his neighbour’s use of his annual tax refund to pad out his RRSP without sacrificing his cash flow, an idea known as the RRSP gross-up strategy.
TODAY’S LONG READ
Eritrea’s strife goes global as diasporas, including those in Canada, clash at cultural festivals
A member of the Toronto Police Service uses a bike to move back protestors in opposition to the Eritrean government during a protest Toronto in September, 2023.Spencer Colby/The Canadian Press
Eritrean events have occasionally produced violent fights between a repressive regime’s supporters and its opponents across major cities around the world, including Toronto, Calgary, London and Melbourne. These incidents mark the latest chapter in a global struggle between rival Eritrean factions – and another sign of how diaspora groups in Canada and elsewhere are becoming a way to hash out conflicts in their home countries. Eritrea is often called the North Korea of Africa, so the only way for opponents to make their voices heard is in the diaspora. Read more here.
Evening Update is written by Maryam Shah. 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.