PRESS DIGEST-Canada-Feb 13

Fri Feb 13, 2015 5:14am EST
 
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Feb 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

** Bombardier announced sweeping changes on Thursday that are designed to calm mounting concerns over its future. The company said Pierre Beaudoin would step down as chief executive to become executive chairman. Bombardier also said it would scrap its dividend, raise $600 million in shares and up to C$1.5 billion ($1.20 billion) in debt. (bit.ly/1KRuYAQ)

** Sun News Network, which was launched in 2011, will go off the air on Friday morning. The channel suffered from heavy financial losses due to low ratings and lost C$46.7 million over one three-year span. The closing will mean the loss of 150 full-time jobs and affect about 200 employees and contributors. (bit.ly/1DLtIgB)

** A Canadian journalist imprisoned for more than a year has been released on bail, but there is no guarantee Mohamed Fahmy's freedom will be long-lived. A Cairo courtroom erupted in applause on Thursday when a judge said Fahmy, the local bureau chief for Al Jazeera's English network, could be let go until the next court hearing after the payment of about C$41,000. (bit.ly/1EeYBYJ)

NATIONAL POST   Continued...