May 30, 2013 / 9:54 AM / in 4 years

PRESS DIGEST-Canada-May 30

May 30 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE GLOBE AND MAIL

* Toronto's embattled mayor Rob Ford tried to talk about the city's response to a major event - overnight flooding that shut down rush hour traffic on the Don Valley Parkway - but instead faced a barrage of questions about the scandal that has engulfed his administration in the past two weeks. Ford refused to respond to questions related to allegations about crack cocaine use, or reports that a member of his staff tried to have the e-mail and phone records of three former employees destroyed. ()

* Quebec mining companies are reeling over proposed legislation that would require them to produce studies on the feasibility of processing ore in the province before proceeding with a new project. The requirement is part of the new Mining Act tabled on Wednesday, in which the Parti Quebecois minority government is seeking to maximize the economic spin-offs from major new mining projects. ()

Reports in the business section:

* Rogers Communications Inc has struck a deal to buy wireless spectrum in greater Toronto from Quebecor Inc's Videotron unit for C$180 million ($173 million). The purchase adds pressure to the federal government as it considers how to advance its policy of creating more competition in the wireless sector. The government sold spectrum - publicly owned radio waves used by mobile carriers to transmit phone calls and data - to Quebecor and other companies in 2008 in order to create alternatives to the three primary players in the industry: Rogers, BCE Inc and Telus Corp. ()

NATIONAL POST

* Canada's largest cities are overspending three times faster than their populations are growing, says a new report. In Big City Spenders released on Wednesday, the Canadian Federation of Independent Business says Canada's three largest cities - Toronto, Montreal and Vancouver - are headed for financial crisis if they continue to shell out money they don't have. ()

* Quebec's Jimmy Cournoyer does two things well: selling enormous quantities of illegal drugs at astounding profit and minimizing his punishment when caught. Both talents were on display on Wednesday as he stood in a New York courtroom admitting he was the mastermind of a C$1 billion ($961.9 million) network that flooded the United States with Canadian marijuana and Canada with Mexican cocaine. ()

FINANCIAL POST

* Quebec's main business lobby issued its strongest warning yet about economic development in the province, saying if Enbridge Inc's Line 9 pipeline reversal proposal doesn't see the light of day there's little hope for any other significant project. ()

* The Bank of Canada will probably begin raising interest rates in the second half of 2014 to contain inflation as the job market tightens, according to the Organization for Economic Co-operation and Development. Inflation will rise to 1.7 percent by the end of next year from 0.9 percent in 2013, the OECD predicted in a report released on Wednesday. The unemployment rate is forecast to fall to 6.7 percent as the economy nears its potential amid a weaker currency. ()

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below