October 24, 2012 / 9:48 AM / 5 years ago

PRESS DIGEST-Canada-Oct 24

Oct 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 Stephen Harper government is sharpening its policy on takeovers by foreign corporations to single out firms controlled by other governments and set more detailed conditions they must meet before Ottawa would approve a deal, sources say.

* Finance Canada is excluding provincial numbers from new reports that will focus on whether government finances are sustainable over the long term.

After the release of his latest audit, Auditor General Michael Ferguson called on Finance to produce reports for both federal and provincial finances that would show the state of Canada’s public finances as a whole.

Reports in the business section:

* The Bank of Canada has laid out a clearer path for interest rates, pushing back the timing of an eventual increase, while warning for the first time that it could boost rates to dissuade consumers from taking on more debt.

* Royal Bank of Canada has emerged from one of the most hotly contested auctions of domestic banking assets in years to buy the Canadian operations of Ally Financial Inc , which will make it the country’s biggest player in auto financing.


* Canada’s intelligence service needs new policies for dealing with minors as its officers are increasingly crossing paths with underage radicals, a federal watchdog agency said in a report released Tuesday.


* The Toronto stock market tumbled more than 150 points Tuesday amid sliding commodity prices as U.S. earnings disappointments and a fresh round of worry centred on Europe’s debt crisis reminded investors about flagging global growth.

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