PRESS DIGEST- Canada - June 13
June 13 (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
* A crash of China's shadow banking system would send shock waves through the Canadian economy, depressing commodity prices and triggering a housing market correction, the Bank of Canada warned in a new report. Other major risks to the Canadian system remain largely unchanged, including the threat of a house price collapse at home, sharply higher interest rates or the euro crisis. (r.reuters.com/daz99v)
* More than a million encoded BlackBerry messages have been viewed by police as part of a crackdown against Quebec organized crime. In arresting more than 30 people on Thursday, the Royal Canadian Mounted Police took the rare step of publicly highlighting its interception of BlackBerry Inc's supposedly secure "PIN-to-PIN" communications. (r.reuters.com/haz99v)
Reports in the business section:
* As world financial centers battle to become offshore trading hubs for the Chinese yuan, Toronto and Vancouver appear to be setting aside some differences to put up a united front in pitching Canada as the next logical destination. "We can preoccupy ourselves with the competition between two geographic regions - Vancouver and Toronto - or we can capitalize on the strengths that both of those centres would bring. I think that has merit." British Columbia Finance Minister Michael de Jong said in an interview. (r.reuters.com/kaz99v) Continued...