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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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US Stocks Hit Record Highs as Canada Lags Behind


The US stock markets continued their upward momentum on Friday, reaching new record highs amid a strong jobs report and a rally in tech giants. The S&P 500 index rose 1.3% to close at 4,937.96, while the Nasdaq composite surged 1.9% to end at 15,536.25. Meta Platforms and Amazon were among the biggest gainers, as the former announced a surge in profits and the latter beat earnings expectations.

The US economy added 304,000 jobs in January, beating forecasts and signaling a robust recovery from the pandemic. The unemployment rate fell to 3.6%, the lowest since March 2020. The solid labor data boosted investor confidence and reduced the odds of a rate cut by the Federal Reserve in the near future.

Meanwhile, Canada’s main stock index posted a small loss on Friday, weighed down by losses in the base metal, telecommunications and utility sectors. The S&P/TSX composite index fell 0.3% to finish at 21,052.57. The Canadian dollar traded for 74.32 cents US, down from 74.60 cents US on Thursday.

The Canadian economy shed 71,000 jobs in January, missing expectations and reversing some of the gains made in December. The unemployment rate rose to 6.4%, the highest since June 2020. The disappointing jobs report added to the concerns over the impact of the Omicron variant and the high inflation on the Canadian economy.

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