Canada’s housing construction activity remained stable in May 2025, defying market expectations of a sharp decline. According to the Canadian Mortgage and Housing Corporation (CMHC), the seasonally adjusted annualized rate (SAAR) of housing starts stood at 279,510 units, down just 0.2% from April’s upwardly revised figure of 280,181 units.

The British pound (GBP) remained broadly stable against the U.S. dollar (USD) on Monday, reflecting heightened caution among investors ahead of the Bank of England’s (BoE) upcoming policy meeting. The market’s subdued tone comes against a backdrop of geopolitical instability, as tensions between Israel and Iran persist, prompting safe-haven flows into the greenback.

Purdue Pharma, the pharmaceutical company behind OxyContin, has obtained the support of 55 U.S. state and territorial attorneys general for its $7.4 billion opioid settlement, a significant milestone in one of the largest mass tort cases in U.S. history. The agreement seeks to resolve thousands of lawsuits related to the opioid epidemic, which has claimed hundreds of thousands of lives and placed substantial economic burdens on state healthcare systems.