PRESS DIGEST-Canada - Aug 17

Wed Aug 17, 2016 7:12am EDT
 
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Aug 17 (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

** Ottawa is monitoring the surge of unregulated mortgages in Canada as non-bank lenders see their market share grow amidst frothy housing conditions in Toronto and Vancouver. (bit.ly/2bdmNEU)

** Energy infrastructure company Kinder Morgan's pipeline expansion is caught amidst a "challenging" time of transition, according to a federal ministerial panel appointed to conduct additional work despite the pipeline getting approved by the National Energy Board. (bit.ly/2bdp5Uw)

** A month after rules to legalize UberX were to come into effect, Toronto said that it had issued a new sort of licence to the disruptive ride-for-hire service and will begin screening its drivers with criminal background checks. (bit.ly/2bdoFh1)

NATIONAL POST

** BHP Billiton Ltd, the world's biggest mining company, may end up "mothballing" its Canadian potash project by the end of the decade after completing two shafts at a cost of about US$2.6 billion. After the shafts are completed by 2018 or 2019, the company will decide on whether to build the mine or not. (bit.ly/2bmKGLO)

** Ontario's largest credit union Meridian is launching a nationally available online and mobile bank. The aim is to compete with the country's Big Five banks by accepting deposits and giving loans. (bit.ly/2bmR05D)

** Virgin Mobile Canada has introduced two new home Internet service plans for eligible Ontario residents. Customers in the province have the option of signing up for a 300 GB plan for $50 per month or an unlimited plan for $65 per month. (bit.ly/2bmM299) ($1 = C$1.29) (Compiled by Gaurika Juneja in Bengaluru)