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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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Fed’s stance on interest rates rattles Wall Street


Wall Street recovered some of its losses on Thursday, a day after the Federal Reserve signaled that it is not planning to cut interest rates anytime soon.

The S&P 500 rose 0.4%, while the Dow Jones Industrial Average edged up 0.1%, following the worst single-day downturn since September on Wednesday.

The Fed left its main interest rate unchanged and said it does not expect to lower it “until it has gained greater confidence that inflation is moving sustainably toward” its 2% target.

Fed Chair Jerome Powell said the central bank needs more data to confirm that inflation is easing, despite recent signs of slowing wage growth and consumer spending.

“We’re not declaring victory at all,” Powell said. "We have confidence. It has been increasing, but we want to get greater confidence."

Investors were hoping for a more dovish tone from the Fed, as they worry about the impact of the coronavirus outbreak, trade tensions, and geopolitical risks on the global economy.

Some sectors, such as technology and health care, bounced back on Thursday, while others, such as energy and financials, remained under pressure.

Shares of Align Technology, the maker of Invisalign teeth straighteners, surged more than 12% after beating analysts’ expectations for sales and profit.

More economic data is expected on Friday, with the release of the monthly jobs report for January.

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