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Good evening, let’s start with today’s top stories:

There was little discussion during this week’s Ontario election (which saw Premier Doug Ford win a second majority government) of the long-term fiscal undercurrents that threaten the province’s currently prosperous economy. Economic growth will slow, interest rates are rising and an aging population will exert growing pressure on expenditures, with permanent budget deficits on the horizon within a decade. Growing the economy and productivity was not exactly a campaign issue. And the current labour shortage is just a hint of problems to come, writes Patrick Brethour in his analysis of the election.

As well, voter turnout hit an all-time low during this election. Elections Ontario says about 43 per cent of eligible voters cast ballots in Thursday’s contest, down from 57 per cent in 2018.

There were 124 legislature seats up for grabs this spring, and any party hoping for a majority needed to win at least 63. At dissolution, Progressive Conservatives had 67, the New Democrats 38, the Liberals seven and the Greens one, with Independents and vacancies making up the rest. As of Friday morning, Doug Ford’s PCs were elected or leading in 83 seats, with 31 for the NDP, eight for the Liberals, one Green and one Independent. See a full breakdown of what parties gained and lost in the new Queen’s Park.

The leaders of both the NDP and Liberals resigned after their parties drew short against the Progressive Conservatives.

It was another devastating election for the Liberal Party and leader Steven Del Duca resigned last night after also failing to gain a seat in his home riding of Vaughan-Woodbridge.

NDP leader Andrea Horwath stepped down as well after her party snagged nine fewer seats than in 2018. It’s her fourth election loss since she became leader in 2009. She did however win her seat in Hamilton Centre riding.

More about Ontario election 2022:

On war’s 100th day, Ukrainians hold out as Russia advances deep into eastern city

A war that Western countries believe Russia planned to win within hours has ground on for more than three months, with Moscow, having been driven back from the capital, launching a huge new assault in the east at a cost of thousands of lives and disruption to the global economy.

Russian forces tried to ford a river from the ruined eastern factory city of Sievierodonetsk but Ukrainian troops were still holding out there.

Ukraine’s Defence Minister said his soldiers were already training in Europe to operate new, advanced missile systems pledged this week by the United States and Britain, which Kyiv hopes will help swing the battle in its favour.

As well, Russian soldiers advanced toward Lysychansk, across the river from Sievierodonetsk, but were held back and retreated, Ukraine’s military general staff said.

In other news, two Reuters journalists were injured and a driver killed after their vehicle came under fire as they tried to reach Sievierodonetsk from an area controlled by Russian-backed separatists.

More on the war in Ukraine:

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ALSO ON OUR RADAR

Before Jan. 6, aide warned Secret Service of security risk to Pence: The day before a mob of former President Donald Trump’s supporters stormed the Capitol on Jan. 6, 2021, Vice President Mike Pence’s chief of staff called Pence’s lead Secret Service agent to his West Wing office to tell him that the president was going to turn publicly against the vice president, and there could be a security risk to Pence because of it.

Some restaurants are abandoning tipping in favour of paying their staff higher wages: Data shows that Canadians have been tipping more generously during the pandemic. But the practice of tipping is contentious – and some restauranteurs are opting out and instead paying their workers more.

As Hong Kong clamps down, ‘burden of remembering’ Tiananmen Massacre shifts overseas: While many memorials are longstanding memorials – in places like Toronto, London and San Francisco – they are taking on a new importance now that there is no centralized mass event on Chinese soil.

Elon Musk feels ‘super bad’ about economy, needs to cut 10 per cent of Tesla jobs: Tesla CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10 per cent of jobs at the electric carmaker, he said in an email to executives seen by Reuters. Tesla shares fell 9 per cent in U.S. trade on Friday after the report.

Peter Navarro indicted on contempt charges: The former Trump White House official was indicted Friday on contempt charges after defying a subpoena from the House panel investigating the Jan. 6 attack on the U.S. Capitol.

MARKET WATCH

Canada’s main stock index fell on Friday, pulling back from its highest level in nearly one month the day before, as robust U.S. jobs data bolstered expectations for aggressive interest rate hikes by the Federal Reserve.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 241.08 points, or 1.2%, at 20,790.73, after posting on Thursday its highest closing level since May 4.

The Dow Jones Industrial Average fell 348.58 points, or 1.05%, to 32,899.7, the S&P 500 lost 68.28 points, or 1.63%, to 4,108.54 and the Nasdaq Composite dropped 304.16 points, or 2.47%, to 12,012.73.

The Canadian dollar traded for 79.50 cents US compared with 79.38 cents US on Thursday.

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TALKING POINTS

Bill Morneau’s complaints speak for economic pragmatists that Justin Trudeau’s politics have left behind

“But it came with another underlying message: that there is so much partisan point-scoring and wedge politics that there is little interest in or room for practical work on economic matters. That will strike a chord with many.” – Campbell Clark

Should Canada abandon the monarchy? Not while it’s still beneficial to the country

“We are fortunate that monarchy continues in Canada because of its big benefit for parliamentary democracies.” Peter H. Russell

The Timmies trade: Selling your soul for an Iced Capp

...As we discovered in this week’s privacy breach revelations, Tim Hortons did not need to plant an eyeball in a doughnut hole. All it had to do was ask us to sign up for its app and give our data away.” Elizabeth Renzetti

On guns, Canada is once again busying itself with America’s problems

“As the United States slides further and further into violence and chaos, Canada’s national tendency to import our neighbour’s crises is growing more and more ludicrous.” – Stephen Marche

LIVING BETTER

In a perfect world, your wine would be properly chilled before serving. But even at the best of times, there’s little foresight about which bottle you might be opening, or, if you’re away from home, temperature control might not always be reliable. The Globe’s Christopher Waters says risking dilution of wine is better than drinking a tepid glass of the stuff. “A cube of ice isn’t going to spoil my sauvignon blanc, riesling or rosé. The expected aroma and flavour will still be there,” he writes. Read his tips on the best ways to chill your wine.

TODAY’S LONG READ

Ms. Marvel star Iman Vellani’s journey from Markham, Ont., to Disney+ superstardom

Iman Vellani attends the "Ms. Marvel" U.K. Special Screening at Everyman Borough Yards on May 26, 2022 in London, England.Tristan Fewings/Getty Images

Nineteen-year-old Pakistani-Canadian Iman Vellani was hanging out with classmates on the last day of high school in Markham, Ont. when she got the call that she had landed the title role in the new Disney+ live-action series Ms. Marvel, set to begin streaming on June 8. For a self-described Marvel nerd, getting to play superpowered Muslim-American teenager Kamala Khan is about as exciting as it gets. While Vellani is the perfect candidate to play the iconic teen superhero, she almost didn’t send in an audition tape. Urged by her mother, who knew what a big Ms. Marvel fan she was, she sent in a headshot and résumé. She recorded her audition tape the night it was due and two days later, got a call to fly to L.A. The young actress reflects on what the role means to her and how it helped her reconnect with her South Asian roots.

Evening Update is written by Prajakta Dhopade. If you’d like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.