PRESS DIGEST- Canada-May 27

Fri May 27, 2016 7:00am EDT
 
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May 27 (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

** Canadian companies suffered their least-profitable quarter in more than five years in the first quarter, as the damage from the oil crash reached new depths. Statistics Canada's quarterly survey of private-sector, for-profit corporations said countrywide operating profits totalled C$73.1-billion ($56.09 billion)- their lowest since Q4 2010. (bit.ly/1WQj4zK)

** Toronto homeowners may get a shock later this month when they open their property assessment notices to find the value of their home has jumped nearly 50 percent. The latest assessment data released by the Municipal Property Assessment Corp show property values in Toronto have appreciated 30 percent on average over the past four years. (bit.ly/1TZX53k)

** Donald Trump's hold on an eponymous Toronto hotel is slipping away, as one-time partner Alex Shnaider and his bank attempt to sell Trump International Hotel & Tower Toronto or put the troubled property into creditor protection and sever their management contract with Trump's company. (bit.ly/1RwbHp6)

  Continued...