PRESS DIGEST- Canada - Nov 28

Fri Nov 28, 2014 5:01am EST
 
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Nov 28 (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

** Canada's energy sector faces the prospect of a lengthy downturn in oil prices and broad spending cuts after the Organization of the Petroleum Exporting Countries said it did not intend to cut production - a move that sent crude prices and energy shares plunging. Investors immediately punished Canadian energy companies in reaction to the OPEC's decision on Thursday to stand firm on its production plans, defying industry hopes for a cut. (bit.ly/1zCx9lo)

** It has been a long road to redemption for Canadian Imperial Bank of Commerce, but the lender's retail banking revamp is finally bearing fruit. For the first time in years, there is a buzz inside CIBC - a confidence instilled in its executives by early signs of above-industry-average growth. After years of lagging its peers, retail banking head David Williamson says he and other executives can't help but feel a little swagger. (bit.ly/121HJIc)

** Patents are a key measure of a country's ability to turn research into viable products, and Canada is slipping. Per capita patent filings in Canada have been on a steady decline since 2000, according to a study of more than one million applications to the Canadian Intellectual Property Office by the C.D. Howe Institute. (bit.ly/11AiBHC)

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