PRESS DIGEST -Canada - Aug 16

Tue Aug 16, 2016 7:57am EDT
 
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Aug 16 (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

** Faced with pressure from local residents about rent and real estate costs, Vancouver is developing affordable-housing on four city-owned sites even before provincial or federal help is guaranteed. Mayor Gregor Robertson announced that the city has selected builders for four sites the city hopes to develop for lower-cost rental housing. (bit.ly/2bjWGh0)

** As many as 200,000 current and former Ontario inmates could be headed for a massive payday if allegations contained in a new lawsuit against the provincial government hold up in court. On Monday, a group of inmates filed a class-action lawsuit, arguing that these relentless lockdowns at Ontario prisons have caused "tremendous physical and psychological damages to inmates across the Province", according to the suit. (bit.ly/2bk477L)

* Ottawa is reviving a proposal that would force lenders to shoulder more risk in Canada's heated housing market. In a briefing note to Finance Minister Bill Morneau and released under Access to Information, department officials say they are studying an option to introduce "risk-sharing" for lenders. (bit.ly/2aXleho)

NATIONAL POST

** A four-member federal panel, appointed by Catherine McKenna, environment and climate change minister, will review how Canada handles environmental assessments for major resources projects and provide suggestions on how to "modernize" the National Energy Board. (bit.ly/2bjTKkj)

** Tervita Corp, a private Calgary-based oilfield and environmental services company, is attempting to renegotiate C$2.5 billion ($1.95 billion) worth of debt and will use a grace period to delay an interest payment to one group of creditors, the company said Monday. (bit.ly/2bk127S) ($1 = C$1.28) (Compiled by Gaurika Juneja in Bengaluru)