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Liberal Candidate Paul Chiang Steps Down Amid Controversy

Paul Chiang, a Liberal candidate in the Markham-Unionville riding, has announced his resignation following backlash over comments he made regarding a Conservative opponent, Joe Tay. Chiang suggested that individuals could claim a bounty offered by Hong Kong authorities by turning Tay over to the Chinese consulate. This statement, made during a press conference in January, sparked widespread criticism and raised concerns about foreign interference in Canadian politics. The Royal Canadian Mounted Police (RCMP) has since launched an investigation into the matter, citing potential threats to Canada's democratic processes. Chiang issued an apology, calling his remarks a "deplorable lapse in judgment," but the controversy persisted. Conservative leader Pierre Poilievre condemned the comments, stating that they endangered Tay's safety and sent a chilling message to the community. Chiang's resignation comes as Liberal leader Mark Carney faces mounting pressure to address ...
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North American Markets Rally on Soft Inflation Data


In a surprising turn of events, North American stock markets have seen a positive surge following the release of softer-than-expected U.S. inflation data. The Toronto Stock Exchange’s S&P/TSX composite index notably opened higher, contributing to what could be its second consecutive weekly gain as the festive season approaches.

Economists are closely analyzing the implications of the latest figures, which suggest a potential shift in the Federal Reserve’s approach to interest rates in the coming year. The personal consumption expenditures (PCE) price index, a key inflation measure favored by the Fed, reported a lower annual increase than projected.

This development has sparked optimism among investors, who now anticipate a possible easing of borrowing costs. Market strategists believe that the trend in inflation is moving in the right direction, which could herald a period of economic recovery and growth.

However, the data also presents a complex picture, with durable goods orders showing an unexpected rise, indicating that the economy may be emerging from a recessionary phase. As trading volumes remain light ahead of the Christmas break, analysts advise caution, suggesting that the market’s response could be influenced by the holiday season’s typically lower activity levels.

The recent market movements underscore the delicate balance central banks must maintain between curbing inflation and fostering economic growth. As the year draws to a close, all eyes will be on the Fed’s next moves and the broader economic indicators that will shape the financial landscape in 2024.

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