February 10, 2016 / 2:05 PM / in 2 years

PRESS DIGEST- Canada - Feb 10

Feb 10 (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

** Husky Energy Inc has laid off an undisclosed number of employees to cut costs while oil prices hover near a 12-year low with little prospect for a short-term recovery. Husky, controlled by Hong Kong billionaire Li Ka-shing, said the new cuts were needed to ensure the company remained resilient through the current downturn and beyond. (bit.ly/1nXv0Re)

** WestJet Airlines Ltd is bracing for a prolonged downturn in the Alberta economy with actions that could include job reductions, Chief Executive Gregg Saretsky says. (bit.ly/1V3oiEn)

** Toronto's Porter Aviation Holdings Inc has been quietly searching for a buyer, throwing the future of its business model as a classy, convenient rival to bigger Canadian airlines into question. The search process is underway, according to people familiar with the plans, and there is no guarantee it will result in a transaction, but the company's financial backers have been actively looking for an exit strategy through a sale. (bit.ly/1Rn65lU)

NATIONAL POST

** Low-key Fortis Inc created a big splash on Tuesday with a friendly offer to buy U.S. electricity transmission company ITC Holdings Corp, driven by the prospect of capturing infrastructure growth opportunities in the United States. (bit.ly/23WLXwa)

** In another possible blow to Bombardier Inc, WestJet Airlines Ltd is in talks with the struggling company to slow down deliveries of the Q400 turboprops it has on order, part of a broader strategy to cope with Alberta's deteriorating economy. (bit.ly/1Q8LJOp) (Compiled by Rama Venkat Raman in Bengaluru)

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