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May 27 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
** Air Canada says the funding of its pension plan has improved enough that it can opt out of a pension agreement with the federal government - a move that allows it to pay dividends and buy back shares. (bit.ly/1FXFIiv)
** U.S.-based Kinder Morgan is proposing an increase of roughly 8 percent to fees paid by oil company shippers to bolster the industry's ability to respond to a large marine oil spill, according to documents filed with regulators. (bit.ly/1SBGBAA)
** The Canadian government is refusing to make public the assessments it conducts to determine whether Ottawa's C$15 billion ($12.05 billion) arms deal with Saudi Arabia is compatible with foreign policy or poses a risk to the civilian population in a country notorious for abuse of human rights. (bit.ly/1LGJrz3)
** In one of the first major acquisitions in the Canadian oil patch since the collapse in oil prices, shale giant Crescent Point Energy Corp is buying its smaller competitor Legacy Oil and Gas Inc in a C$1.53 billion ($1.23 billion) share and debt deal. (bit.ly/1HKGvDH)
** The Wynne government moved on Tuesday to ban flavored tobacco, regulate e-cigarette smoking and place calorie counts on restaurant menus in an effort to make Ontarians healthier. (bit.ly/1KnvGos)
** Toronto-Dominion Bank continued to display an appetite for U.S. consumer credit card portfolios by swallowing up high-end retailer Nordstrom Inc's U.S. Visa and private label business and its C$2.2 billion ($1.77 billion) in receivables on Tuesday. (bit.ly/1HKYeb9) ($1 = C$1.25) (Compiled by Mirza Mohammed Ali Khan in Bengaluru)