Morning Update: Eulogy marks end of traditional year of grieving for lost Indigenous children

Good morning,

Yesterday, Canada’s first Indigenous Governor-General Mary Simon delivered a eulogy for the missing children of the Kamloops Indian Residential School, as the Tk’emlúps te Secwépemc Nation gathered to mark the completion of a year-long period of grieving. For the Tk’emlúps people, Monday’s day-long ceremony marks the beginning of a time of healing.

Kúkpi7 (Chief) Rosanne Casimir told the gathering that the Catholic Church still has work to do to complete meaningful reparations for its role in running the school, and she called on Pope Francis to come to British Columbia during his July visit to Canada. “Today, answers are still needed. Further investigations are required,” she said.

When Prime Minister Justin Trudeau arrived as a guest just ahead of the evening feast, an angry crowd surrounded him, loudly singing “Canada is all Indian land.”

“This is about remembering who we lost,” he said.

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This Dutch town hid Jews during the Holocaust. Eight decades later, it’s welcoming fleeing Ukrainian refugees

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In the decades since the war, the small community of Nieuwlande has gained recognition for its protection of hundreds of people marked for forced labour in Germany or death in concentration camps.

Now, nearly eight decades later, some of the homes once used to hide Jews are being used to shelter another generation of people seeking safety: Ukrainian families. Marion Trippe is among those who have opened their houses, and the decision to take in Ukrainian refugees is at least in part linked to the legacy of Nieuwlande.

• Opinion: Waves of sanctions were supposed to crush the Russian economy, but it is still showing signs of resilience
• News: Russian sentenced to life in Ukraine’s first war-crimes trial

Investors look past big banks’ second-quarter financial results for signs of interest-rate impacts

Investors are expecting Canada’s largest banks to report strong financial results for the second quarter that just ended. What happens next could be cause for greater concern.

Big-bank earnings are likely to be robust, easing back from giddy highs a year ago as revenue from trading and investment banking dips and loan-loss reserves start to creep up from unusually low levels. But analysts are looking ahead for signs the rate of growth in banks’ lending could be starting to slow as rising interest rates and economic turmoil begin to eat into demand for mortgages and other new loans.

The great junk transfer is coming. A look at the burden (and big business) of decluttering as Canadians inherit piles of their parents’ stuff

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Over the next 10 years, Canadians will inherit an estimated $1-trillion – the largest transfer of wealth in history. The parents of baby boomers, the oldest generation alive today, were savers, having learned in the lean times of war and the Great Depression to treasure what they owned. Their children were consumers. Together, they will leave behind houses jammed with mahogany dining-room sets, silver platters, crystal figurines and all manner of tchotchkes that their kids don’t want.

Sorting, storing and disposing of old family belongings will be a labour-intensive challenge in the next decade as baby boomers age.

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ALSO ON OUR RADAR

Death toll rises to 10 after destructive storm sweeps Ontario: The number of deaths continues to mount after a deadly storm ravaged large swaths of Southern Ontario and Quebec on Saturday, leaving hundreds of thousands still without power as of Monday afternoon.

Russia launches all-out assault to encircle Ukrainian troops in east: The easternmost part of the Ukrainian-held Donbas pocket, the city of Sievierodonetsk on the east bank of the Siverskiy Donets river and its twin Lysychansk on the west bank have become the pivotal battlefield, with Russian forces advancing from three directions to encircle them.

Former BoC governor Stephen Poloz sees coming period of stagflation: Speaking on a podcast published by the C.D. Howe Institute on Friday, the former top central banker said the global commodity price shock resulting from Russia’s invasion of Ukraine will likely lead to an economic slowdown in Canada alongside higher consumer prices.

U.S. would use force to defend Taiwan from Chinese invasion: At a joint news conference with Japanese Prime Minister Fumio Kishida, President Joe Biden was asked if the U.S. would use force to defend Taiwan if it were attacked by China. “Yes,” he said. “That’s the commitment we made,” he said.

The robotic revolution is coming to a workplace near you: For decades, Canada has lagged many of its global peers in the types of business investment that would improve productivity. But the green shoots of an automation transformation appear to be sprouting.

How New Mexico is poised to become a haven for abortion access: A desert state of 2.1 million, it is frequently overlooked as a beacon of reproductive rights. But New Mexico has one of the country’s most liberal abortion laws, even as it borders four states that have either banned the procedure or plan to.

MORNING MARKETS

World stocks slump: Shares slid worldwide on Tuesday as disappointing company earnings and fears about slowing global economic growth punctured the mini-rally of the last few trading days. Around 5:30 a.m. ET, Britain’s FTSE 100 fell 0.45 per cent. Germany’s DAX and France’s CAC 40 were off 1.07 per cent and 1.40 per cent, respectively. In Asia, Japan’s Nikkei closed down 0.94 per cent. Hong Kong’s Hang Seng declined 1.75 per cent. New York futures were negative. The Canadian dollar was trading at 78.11 US cents.

WHAT EVERYONE’S TALKING ABOUT

Ottawa must fix trade loopholes that hurt independent businesses

“Given the complex and changing nature of commercial transactions, reviewing, updating and expanding Canada’s approach to competition to accurately reflect the needs of small and medium-sized businesses is a necessary step to lowering transaction costs and achieving better affordability for Canadian consumers and entrepreneurs alike.” -Vass Bednar and Denise Hearn

What we lost by banning parents from school buildings

“A classroom is also a community, and communities are strongest when all members participate. As a parent, I am only an honorary member of my daughter’s classroom, but a full-fledged member of the broader school community.” -Josh Fullan

Canada should be putting RCMP contract policing on trial

“The days of fungible Mounties who could police in Nunavut, rural Nova Scotia and Surrey – a city now starting its own police service – may be numbered. In their place, we need more specialized Mounties and more locally responsive police.” -Kent Roach

TODAY’S EDITORIAL CARTOON

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LIVING BETTER

Changing up your fitness routine can help revive that faded passion

If your gym progress is stalling and your enthusiasm for working out is waning, it may just be time to change things up. Change can be a powerful tool. Switching up our routines, even in subtle ways, often leads to dramatic results.

Trying out new gyms, trying new routines with new people, and trying tools that you haven’t tried before are all ways to shake things up.

Paul Landini is a personal trainer and health educator in Kitchener, Ont. and has some easy-to-apply options to help revive that faded passion.

MOMENT IN TIME: May 24, 1844

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Samuel Morse taps out world’s first telegraph message

In the history of telecommunication, there are no first words more providential than those of Samuel Morse when he sent the first telegraph message on this day in 1844. Consider a few comparisons. The first words spoken over the phone were “Mr. Watson, come here. I want to see you.” The first radio message ever sent was Morse code for the letter S. The words written in the first e-mail have been forgotten, but its sender said it was something like “QWERTYIOP.” The first telegraph message was biblical – literally. Sitting in the U.S. Supreme Court chamber in Washington, D.C., Morse sent the first telegraph to his partner in Baltimore along a telegraph line the two had built the year before: “What hath God wrought?” read the message in Morse code. The words come from the Bible (Numbers 23:23). Morse credited them to Annie Ellsworth, a friend’s 16-year-old daughter. The expression of awe and marvel was an appropriate choice for the telegraph, which revolutionized long-distance communication. Eventually, however, the radio, telephone, fax machine and e-mail would make the telegraph obsolete. Samuel Morse died in 1872. Western Union sent its last telegram in 2006. Dave McGinn

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