Morning Update: Plant-based meat has lost its sizzle

Good morning. Meatballs built IKEA’s food empire but its plant balls failed to make a dent in the MAGA era – more on that below, along with Jimmy Kimmel’s indefinite suspension and Donald Trump’s state visit. But first:

• The Bank of Canada and U.S. Federal Reserve resume rate cuts amid job market slowdowns
• The BC Ferries deal was raised with Transport Canada weeks before Freeland’s criticism, e-mails show
• Canada and Mexico will sign a strategic partnership during Carney’s visit
• Gaza faces internet and phone blackouts as Israeli tanks advance