PRESS DIGEST- Canada- Dec 26
Dec 26 (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
** Two of Canada's largest telecom giants have reached a deal over control of wireless phone retailer Glentel Inc . A news release from BCE Inc issued late Wednesday says it has reached an agreement with Rogers that will see each company own 50 per cent of Glentel. (bit.ly/1wMR82k)
** In the coming days, the Ontario government will unveil details of the new Jobs and Prosperity Fund, rolling all existing corporate handouts into one C$2.5-billion ($2.15 billion) program. But economists warn it is not clear the province does the rigorous analysis necessary to see if those subsidies are working. (bit.ly/1AQpCCf)
** Brookfield Asset Management Inc has hiked its offer to other shareholders of Brookfield Residential Properties Inc by 5.4 percent as it seeks to acquire full ownership of the North American land developer and homebuilder. (bit.ly/1HKiPKE)
** Cliffs Natural Resources Inc is feeling more pain from its foray into Canada. As the Cleveland-based company pulls up stakes at its money-losing Bloom Lake iron ore mine in northeastern Quebec after investing billions in what its chief executive dubbed a "disaster," the company's subsidiary, Bloom Lake General Partner Ltd has been hit with a record C$7.5-million fine for environmental infractions at the site. (bit.ly/16TGP2L) Continued...