October 30, 2012 / 10:13 AM / in 5 years

PRESS DIGEST-Canada-Oct 30

Oct 30 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


* Toronto city manager Joe Pennachetti’s office released a highly anticipated report Monday that estimated the municipality could reap as much as C$195 million per year -- on top of a one-time sale or lease of city-owned land -- from an integrated resort casino near the waterfront.

* A record number of Canadians visited a food bank this year, an indication the recession’s legacy continues to bite.

More than 882,000 people used a food bank this March, a 2.4 percent increase from last year. Demand is now 31 percent higher than before the recession, a study to be released Tuesday says.

Reports in the business section:

* Canada’s C$10.6 billion ($10.60 billion) clean technology industry is on course to eclipse the aerospace industry in size within five years, according to a report being released Tuesday.

* Canadian Oil Sands Ltd, the largest stakeholder in Syncrude Canada Ltd, has revised its 2012 financial outlook and expects its cash to drop significantly next year as debt rises until 2014.


* People across central and eastern Canada hunkered down to face powerful winds and a deluge of rain as approaching superstorm Sandy hit the U.S. and gradually wheeled its way north.

The impact of the weather system extended over a thousand kilometres away from the storm, according to the Canadian Hurricane Centre, with southern Ontario and Quebec experiencing high wind gusts and periods of heavy rain on Monday night.

* A shallow earthquake with a preliminary magnitude of 6.2 struck off British Columbia province on Canada’s west coast, the U.S. Geological Survey said, the second powerful earthquake in the region in two days.


* Canadian miner Yamana Gold Inc reported a 6 percent fall in third-quarter adjusted profit on Monday as lower metal prices and higher production costs outweighed strong gold sales volumes.

* If there is a consensus on the direction of Canada’s economy it is this: Growth will initially slow as government revenues are pinched by lower commodity prices, but then pick up enough momentum to balance the budget as planned.

“The good news is that economic growth in Canada continues to be positive, if modest, and among the strongest” in the Group of Seven industrialized nations, Finance Minister Jim Flaherty said Monday after meeting with private sector economists in Ottawa.

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