Economy Growing at Fastest Pace in 17 Years: Here’s What We’re Reading Today
The Daily 5 is Sharp’s essential reading list for what’s happening in the world today. Make sure to follow us on Twitter or subscribe to the Sharp Insider newsletter to stay up to date.
Here’s what we’re reading today.
1. Economy grew at almost five per cent in the 12 months before May
“Canada’s economy continued its hot streak in May, riding broad-based growth led by a surge in oil output, beating already high market expectations and setting off another wave of buying in the high-flying Canadian dollar.”
+1: Alberta is about to become Canada’s fastest growing economy again – Bloomberg
2. U.S. Senate rejects Obamacare repeal bill
“President Trump and congressional Republicans suffered a dramatic failure early Friday in their bid to advance a scaled-back plan to overhaul the Affordable Care Act, raising the prospect of emergency bipartisan talks to shore up the existing health-care system.”
+1: The Senate had 3 Obamacare repeal bills. It has now voted against them all – Vox
+1: Watch the shocking moment John McCain killed the Republican health care bill – BuzzFeed News
3. Fort McMurray is rebuilding too quickly, too cheaply
“Fort McMurray is not rebuilding in a way that would best shield the city from natural disasters such as floods and fires because of a push to ensure the recovery is done quickly and cheaply, according to an independent review of the city’s response to the 2016 wildfire.”
4. Russia, in response to new U.S. sanctions, seizes two diplomatic compounds
“Russia took its first steps on Friday to retaliate against proposed American sanctions for Moscow’s suspected meddling in the 2016 election, seizing two American diplomatic properties and ordering the United States Embassy to reduce staff by September.
The moves, which Russia had been threatening for weeks, came a day after the United States Senate approved a measure to expand economic sanctions against Russia, as well as against Iran and North Korea. The bill, mirroring one passed by the House on Tuesday, now goes to President Trump for his signature.”
5. North Korea has launched another ballistic missile
“The Pentagon is still working to assess the type of ballistic missile that was launched — the ongoing assessment from the US intelligence community in recent months has been that North Korea has accelerated its intercontinental range ballistic missile program.”
– CNN
