December 13, 2013 / 9:50 AM / in 4 years

PRESS DIGEST- Canada - Dec 13

Dec 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 Conservative government’s decision to approve major cuts at Canada Post was driven by concern that the Crown Corp was just months away from becoming a major drain on Ottawa’s bottom line. ()

* Quebec authorities are calling it a first - an elected official coming forward to denounce people after being the target of alleged corruption. The province’s anti-corruption squad, known as UPAC, is giving Chateauguay Mayor Nathalie Simon full marks for filing a complaint with police this past September. ()

Reports in the business section:

* Canada is heading for a gridlock in energy development that will rob the country of future wealth unless it can solve vexing environmental and aboriginal conflicts, a blue-ribbon group including senior Calgary business people warned in a new report. ()

* The Canada Pension Plan Investment Board is making a foray into the booming Canadian agriculture business with the $128-million purchase of a portfolio of Saskatchewan farmland from Assiniboia Farmland LP. ()

* Another high-flying Canadian startup backed by deep-pocketed U.S. venture capitalists has hit an impressive milestone - although it admits it’s still a long way off from generating profits or meaningful revenues.

Kik Interactive, a Waterloo, Ontario-based instant messenger service started in 2009, said on Thursday that it now had more than 100 million registered users, a 233 percent increase in 12 months, and ahead of rival BlackBerry Messenger. ()

* Bank of Canada Governor Stephen Poloz used a speech in Montreal to set the record straight: He is not as dovish as many have thought; nor does he talk the dollar down to boost exports and listless inflation. ()


* Toronto City Councillor Doug Ford has been accused of vote buying after he was filmed handing out $20 bills to public housing residents. It’s the second time in a week he has faced accusations of using his personal wealth for political gain. ()

* The commander-in-chief of the Canadian Forces, Governor General David Johnston, says the military and country must do more to treat post-traumatic stress disorder and prevent suicides among soldiers, explaining a “stiff upper lip” attitude needs to be overcome to help treat soldiers and veterans with mental illness. ()


* Canada’s telecom regulator said on Thursday that it would take a closer look at the rates cellphone providers charge their competitors to roam on each others’ networks, something it said the country’s big players could be using to kill competition from new entrants. ()

* U.S. hedge fund Golden Tree Asset Management LP increased its stake in Postmedia Network Canada Corp last month and now owns 39 percent of the newspaper chain’s shares. The New York City-based fund is Postmedia’s largest shareholder and in November it bought a further 4 percent of the company’s Class B shares, according to a Dec. 4 regulatory filing. ()

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