March 22, 2016 / 10:48 AM / 2 years ago

PRESS DIGEST- Canada-March 22

March 22 (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

** Bombardier Inc is defending its plan to outsource more work on its Toronto-built Q400 turboprop aircraft to manufacturing sites outside Canada, saying its goal of cutting costs on the aircraft has nothing to do with its billion-dollar aid request from Ottawa.(bit.ly/1SdYmoY)

** Prime Minister Justin Trudeau is promising Tuesday's budget will deliver "historic investments" to improve the lives of Canada's indigenous people - funding that will amount to billions of dollars.(bit.ly/22tnj89)

** Foreign Minister Stephane Dion is acting illegally by issuing permits to allow the export of combat vehicles to Saudi Arabia, a lawsuit filed in Federal Court on Monday alleges. Opponents of Canada's C$15-billion ($11.48 billion) arms deal with the Saudis are taking the Trudeau government to court in an attempt to block shipments of the fighting vehicles to Riyadh. (bit.ly/1RcSZat)

NATIONAL POST

** Bankers Petroleum Ltd has received a friendly takeover offer that values the Calgary-based company at C$575 million ($440 million), excluding debt obligations. The directors and management of Bankers are fully supporting the offer from Charter Power and a numbered Alberta company, which are affiliates of China-based Geo-Jade Petroleum Corp . (bit.ly/22tokx5)

** Valeant Pharmaceuticals International Inc announced Monday morning it was placing the blame for incorrect reporting of financial information on the shoulders of its former CFO Howard Schiller and corporate controller Tanya Carro, though the one-time interim-CEO Schiller says he won't take the fall. (bit.ly/25i6USJ) ($1 = 1.3066 Canadian dollars) (Compiled by Bhanu Pratap in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below