The World This Hour - The World This Hour for 2025/08/29 at 12:00 EDT

Episode Date: August 29, 2025

The World This Hour for 2025/08/29 at 12:00 EDT

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from cbc news it's the world this hour i'm joe cummings statistics canada says the canadian economy contracted in the second quarter the latest GDP numbers are out and they show a sharp downturn in april may and june just as the trump tariffs were taking effect paula duchuch reports economists had expected the to contract this quarter, but this is worse than expected. It's largely to do with U.S. tariffs. Early in the year, we saw a big surge in exports as businesses tried to get ahead of those tariffs taking effect. In the latest quarter, a big pullback in those exports as tariffs kicked in, and as a result, the GDP slowing by 1.6 percent on an annualized rate.

Mark Parsons, economist with ATB Financial in Edmonton, says this could set the stage for an interest rate cut next month. I think this makes it more interesting. have four months of inflation below 2%, you have a very weak labor market, and now you have contraction in the second quarter. So I think this could tip the scales towards the Bank Canada seriously considering a rate cut in September. Still, Parsons says an interest rate cut will depend on what happens with job numbers and inflation data we get between now and the Bank of Canada meeting. Paula Duhatchek, CBC News, Toronto. The body of an Israeli hostage has been recovered in Gaza. The body has been identified in return to Israel, along with the remains of another Israeli

hostage. Those remains, however, have not been identified at this point. This comes as the Israeli military is now referring to Gaza City as, quote, a dangerous combat zone. The IDF says it's now operating with great force on the outskirts, and the tactical pause that was allowing for the delivery of some food supplies is now over. Thailand's constitutional court has removed the country's Prime Minister and dissolved her cabinet. In Bangkok, that's ahead of the court ruling that Paysung Shinawatra violated constitutional ethnics in a telephone call with the head of the Cambodian Senate. The conversation was about easing border tensions, but when a tape of the discussion was leaked

in June, it revealed the Prime Minister appearing to be critical of a senior Thai general. Shinawat has only been in office for a year. year. Her father served as prime minister for five years before being ousted in a military coup in 2006. U.S. President Donald Trump has revoked Kamala Harris' secret service protection. Traditionally, vice presidents are covered for six months after leaving office, but former President Joe Biden extended Harris's protection period to continue through the summer of 2026. Today's move by the Trump White House comes as Harris is about to release a book and embark on a publicity tour. Today marks 20 years since Hurricane Katrina devastated the American

Gulf Coast. Steve Fuderman looks back now at this historic disaster that devastated the city of New Orleans. Oh my gosh, here we are. It remains one of the worst and deadliest natural disasters ever to hit the U.S. It's unbelievable how many homes are just underwater. 20 years ago, Katrina's rain, storm surge, and eventual levy breaks left 80% of New Orleans underwater. Thousands were trapped. It was historic. Hurricane Katrina is now a category five hurricane. While most of New Orleans, like the French Quarter and the Central Business District, has recovered, other parts, largely in poor, economically deprived areas, never did.

There are houses that still have not been rebuilt. You've got schools that never open that has been destroyed. because of Katrina. Much of the blame for the destruction has focused on the flawed design of the city's levees and floodwall systems. Billions have been spent to rebuild them. For those who live through it, it's something they will never forget. I lost everything but my life. Steve Futterman for CBC News, Los Angeles.

And that is The World This Hour. You can listen to us wherever you get your podcast. The World This Hour is updated every hour seven days a week. For CBC News, I'm Joe Cummings.