December 3, 2014 / 12:57 PM / in 3 years

PRESS DIGEST- Canada - Dec 3

Dec 3 (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

** New doubts are being raised about the future of the General Motors of Canada Ltd vehicle assembly operations later this decade. The current General Motors Co product plan points to the end of vehicle production in Oshawa, Ontario, and a cut at a plant in Ingersoll, Ontario to a single shift, said Joe McCabe, president of auto industry consulting firm AutoForecast Solutions LLC. (bit.ly/1vMPTy1)

** The plunge in oil prices is expected to dampen the rise in moving crude by rail, a fast-growing segment that sprang up amid a shortage of pipeline capacity and C$100 ($88) oil. As oil touched $67.19 (U.S.) a barrel Tuesday, the economics of moving oil to market by train become less appealing to producers, and railways face slower growth in the lucrative segment. (bit.ly/1yeIMC7)

** After spending heavily south of the border, Bank of Montreal will lean on its U.S. operations to combat a slowing Canadian market and soaring technology and regulatory costs. Until now, BMO had been an outlier, churning out impressive lending growth. But during the fourth quarter, the bank fell in line with its peers with personal lending growing just 1 per cent, quarter over quarter. At the same time, BMO's expenses have skyrocketed. (bit.ly/1HYIylx)

NATIONAL POST

** While policymakers in Ottawa and the provinces continue to offer up new tools to push Canadians to better prepare for retirement, workers are still failing to take advantage of hundred of millions of dollars of "free money" for retirement being offered up by the country's employers. (bit.ly/1tCmpj4)

** A Canada Revenue Agency crackdown on tax-free savings accounts has some people wondering whether TFSAs will always be shielded from a federal government that might be looking to generate cash. (bit.ly/1yNh1iF)

** Bank earnings season started with a thud on Tuesday after Bank of Montreal's profit fell short of estimates amid weakness in its capital markets division that might not bode well for Canada's other big banks. (bit.ly/1BcG2X3) ($1 = 1.1373 Canadian dollars) (Compiled by Luke Koshi in Bengaluru)

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