June 2, 2014 / 10:15 AM / in 4 years

PRESS DIGEST- Canada - June 2

June 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.


* Quebec Finance Minister Carlos Leitao will unveil on Wednesday what he calls a "transition budget" that will provide a foretaste of the nasty medicine the province needs to swallow to balance its books by 2015-16. (r.reuters.com/jyn79v)

* Thousands of commuters in the Greater Toronto Area can breathe a huge sigh of relief. A strike that threatened to shut down GO Transit bus service has been averted after a tentative contract agreement was reached between Metrolinx and Amalgamated Transit Union Local 1587. (r.reuters.com/myn79v)

Reports in the business section:

* Pay for Canada's top executives is on the rise as companies put years of economic downturn firmly behind them. Canadian chief executives saw their total compensation climb by 11 percent in 2013, which marks the fourth straight year of pay gains after a decrease and plateau in 2008 and 2009. (r.reuters.com/ryn79v)


* The sparring between Ontario's three main political camps continued on Sunday, with the Liberals accusing Tim Hudak of adopting the policies of "right-wing extremists" and the Progressive Conservatives demanding Kathleen Wynne "come clean" on the MaRS controversy. The Progressive Conservative party urged Liberal leader Wynne to release all the documents relating to the apparent bailout of the MaRS innovation and research complex in Toronto. (r.reuters.com/syn79v)

* One week before the Boko Haram terrorist kidnapping in which nearly 300 students were taken from a girls school in northern Nigeria, a similar incident across the border in Cameroon saw an elderly Canadian missionary nun taken hostage with two Italian priests. News broke on Sunday that Sister Gilberte Bussiere, 74, has been freed after nearly two month's captivity along with Father Gianantonio Allegri and Father Giampaolo Marta, both of Vicenza in the northeast of Italy. (r.reuters.com/vyn79v)


* Whether it's an iPhone or an Android, smartphones are ubiquitous these days and basic cellphones with just texting and calling capabilities are a dying breed. However, there is still demand for basic cell phones with simple voice calls in emerging markets and among frugal consumers in developed markets such as Canada that have little or no need for data on their cellphones. (r.reuters.com/wyn79v)

* The mood of small business operators in Canada has taken a decidedly positive turn. In fact, their optimism is at the highest point in more than two years - and just shy of levels consistent with steady economic growth, according to the most recent survey. (r.reuters.com/zyn79v) (Compiled by Ankush Sharma in Bangalore)

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