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July 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.
** Veteran corporate director James Baillie has resigned from the board of Home Capital Group Inc, just days before the company is expected to shed light on the sudden drop in its new mortgage business in the second quarter of the year. The company said it plans to announce a new director in the third quarter of the year. (bit.ly/1ewg0EZ)
** TransAlta Corp deliberately timed outages at power plants in Alberta at peak times in order to drive up electricity prices, the province's utilities commission said in a ruling on Monday. The Alberta Utilities Commission launched an investigation after the market surveillance administrator alleged that the company manipulated the electricity market. (bit.ly/1GXCzct)
** Flight simulator manufacturer CAE Inc is selling its mining division, the Montreal-based company said on Monday. It said Constellation Software Inc has acquired its CAE Mining unit for an undisclosed amount. (bit.ly/1h29rMc)
** Canada Mortgage and Housing Corp announced changes on Monday that will make it easier for homeowners to rent out their residences and qualify for a loan. The Crown corporation, which controls a majority of the mortgage default insurance market, says that starting Sept. 28 homeowners will able to count all the income from rental units when qualifying for a loan. (bit.ly/1h2auvx)
** Despite weak oil prices and a slowdown in oilfield activity, PrairieSky Royalty Ltd was able to grow its revenue by 31 percent between the first and the second quarter. PrairieSky, which recently marked a year since being spun out from Encana Corp in a massive initial public offering, reported revenue of C$71.8 million ($55.2 million) for the second quarter on Monday. (bit.ly/1h2aUSD)
** TransAlta Corp has signed a deal to buy 71 megawatts of solar and wind power generation capacity in the U.S. in a deal worth $75.8 million. (bit.ly/1h2beRw) ($1 = 1.3018 Canadian dollars) (Compiled by Mansi Goenka in Bengaluru)