PRESS DIGEST-Canada-Sept 2

Wed Sep 2, 2015 7:55am EDT
 
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Sept 2 (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 monitor in the Target Canada insolvency case says the $1.9 billion debt the chain has said it owed its own property company should be reduced to $1.36 billion. (bit.ly/1N9IS5d)

** Royal Bank of Canada has been granted a patent on its mobile payments technology by the U.S. patent office, giving customers the ability to make small purchases using their smartphones on any network and ramping up the effectiveness of RBC Wallet ahead of the launch of Apple Pay in Canada. (bit.ly/1Umklhw)

** Major companies in Canada's energy industry are making another round of deep staff cuts and further shrinking their spending plans as oil and gas players scramble to stay afloat as the year-long commodity rout continues. (bit.ly/1JuBjzV)

NATIONAL POST

** Statistics Canada reported on Tuesday that the Canadian economy shrank at an annual rate of 0.5 percent in the second quarter, following a 0.8 percent decline in the first three months of the year. Economists say this is a technical recession, but not an "outright recession." (bit.ly/1FfZ5Os)

** Halifax-based CanJet Airlines has completely suspended its flight operations after finding itself unable to recover from the loss of a contract with tour operator Transat AT Inc . (bit.ly/1ihHZL6)

** Thousands of new barrels of oilsands production flowing into the North American oil market could exacerbate the discount Canadian producers get for their crude, analysts say. (bit.ly/1ihInJy) (Compiled by Sangameswaran S)