March 30, 2015 / 11:39 AM / in 3 years

PRESS DIGEST- Canada- March 30

March 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

** Canada's municipalities are calling for the federal budget to include at least C$1 billion ($791.2 million) a year in new cash for public transit, insisting the projects will boost economic growth and reduce commute times. The specific request to be announced by the Federation of Canadian Municipalities comes as urban transit issues are shaping up to be a key focus for the 2015 federal election. (bit.ly/1EUcieL)

** The closing of two General Motors Co assembly plants in Oshawa, Ontario, would wipe out about 30,000 jobs, slice more than C$5 billion out of Ontario's gross domestic product and cost the federal and Ontario governments C$1-billion in lost revenue. (bit.ly/1NxZ2D1)

** After taking 26 months to launch its first stores in Canada, U.S. discounter Target Corp is now looking at shutting all 133 of them in just three months, a month less than originally planned. Target Canada plans to speed its store closings by one month and turn off the lights by mid-April, a court filing says. (bit.ly/1Nkmwvc)

NATIONAL POST

** Best Buy Co Inc announced it is shutting down dozens of Future Shop stores across Canada, effective immediately, resulting in about 1,500 job losses. Of 131 Future Shop locations across the country, 66 will be shuttered for good and the remaining 65 will be turned into Best Buy outlets. (bit.ly/19nTJH9)

** Postmedia Network Canada Corp's apparent plans to sell the 35 properties it is acquiring from Quebecor Media Inc won't come to fruition overnight, but there is a market for the portfolio which consists mostly of real estate in small towns, say industry analysts. A single buyer for the entire portfolio seems unlikely, said John Redvers, acting national manager of Royal LePage Commercial. (bit.ly/1Dd6Ln0)

** Oil inventories at key Alberta storage hubs of Edmonton and Hardisty breached 10 million barrels in each location last week, according to data from global energy consultancy Genscape, suggesting Canadian oil prices may trend even lower in the near future. (bit.ly/1Ny4gyD) ($1 = C$1.2639) (Compiled by Zara Mascarenhas in Bengaluru)

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