July 24, 2013 / 9:59 AM / in 4 years

PRESS DIGEST-Canada-July 24

July 24 (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

* The railway company involved in the deadly train derailment at Lac-Mégantic has stopped paying for the clean-up of the disaster site, forcing the town to pick up the tab, Mayor Colette Roy-Laroche said Tuesday. ()

* Although no charity or group has taken Justin Trudeau up on his offer to refund speaking fees, the Liberal Leader’s opponents are calling on him to explain why he accepted the money in the first place. ()

* The next stage in the overhaul of Toronto-based Maple Leaf Sports and Entertainment Ltd is expected to claim several top executives, as president and chief executive officer Tim Leiweke shakes up the senior ranks of the organization, according to sources familiar with the matter. ()

* Premiers are planning to put Canada Pension Plan reform back on the national agenda when they meet this week at Niagara-on-the-Lake. ()

Reports in the business section:

* British Columbia’s carbon tax has resulted in a 17.4-per-cent reduction in greenhouse gas emissions, according to a new study being released Wednesday as premiers gather in Niagara-on-the-Lake, Ont., to discuss a national energy strategy aimed at - among other things - lowering carbon emissions. ()

* Canada’s Competition Tribunal has tossed out a case over billions of dollars in credit card transaction fees and punted it to the federal government. ()

* Toronto-based financial technology company Davis + Henderson Corp will push further into the U.S. with a $1.2-billion (U.S.) acquisition of banking software provider Harland Financial Solutions, headquartered in Florida. ()

* Small firms struggling to recover from massive floods in southern Alberta last month will be eligible for government-backed loans of up to $1-million as well as two years of loan-interest rebates, the provincial government announced Tuesday. ()

NATIONAL POST

* A vast archive of insider emails about the Ontario Liberals gas plant scandal was delivered Tuesday to MPPs on the province’s Standing Committee on Justice Policy, despite earlier claims the documents had been permanently and illegally deleted. ()

* Canada needs to abolish its Senate because effective reforms will never happen, Saskatchewan Premier Brad Wall said Tuesday. ()

FINANCIAL POST

* The Competition Tribunal’s decision on Tuesday to throw out the case against credit card companies was a blow to the retail industry, but it is only a matter of time before Canada goes the way of Australia, the U.S. and much of Europe by permitting merchants to directly pass on the cost of accepting credit cards to consumers. ()

* Some suggest you need to save enough to give you an annual retirement income of 70 percent of your income. You may only need half of that to get by. ()

* The conclusion of a bitter round of labour negotiations last year at Air Canada has left its pilots with little trust for the airline’s management or their union leaders. ()

* The Toronto stock market closed slightly lower Tuesday, weighed down by an earnings report from industrial heavyweight Canadian National Railways Co. ()

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