April 1, 2015 / 11:24 AM / 3 years ago

PRESS DIGEST- Canada - April 1

April 1 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Canada missed a key deadline for joining a Beijing-backed infrastructure bank, limiting the influence the government will have over how the new institution will run. China set Tuesday, March 31, as the last day for governments to signal their interest in becoming founding members of the Asian Infrastructure Investment Bank, which seeks to fund roads, railways and other projects in the region. (bit.ly/1BOZN2X)

** Canadian regulators have announced proposed new rules that will give boards of directors far more time to respond to hostile takeover bids, but will not allow them to indefinitely turn away unwanted offers. The new standards will require takeover offers to remain open for a minimum of 120 days, which is a major extension to the current 35-day minimum period. (bit.ly/1CtQdFj)

** Contract talks have broken off between Air Canada and Unifor, the union that represents ticket agents, customer service representative and sales agents. Unifor wants Air Canada to get involved in a dispute the union is having with Greater Toronto Airport Authority, which is outsourcing work involving assistance to passengers who require wheelchair or other special help. (bit.ly/1xWLvl1)


** Ontario's treasurer has some good news for the debt-burdened province, its deficit is down. The projected deficit for the fiscal year ending Monday is less than what they thought it might be, down about C$1.6 billion ($1.26 billion) to C$10.9 billion, Finance Minister Charles Sousa announced. (bit.ly/19ILEN0)

** Pierre Beaudoin, the former chief executive of Bombardier Inc, took a 14 percent pay cut in 2014 as the company struggled to get its flagship CSeries jetliner to market. According to a proxy circular filed on Tuesday, Beaudoin made C$5.08 million in total direct compensation last year, down from C$5.79 million in 2013. (bit.ly/1IPuKsF)

** The chief financial officer of WestJet Airlines Ltd is leaving the airline after eight years to join another Calgary-based company. Vito Culmone's last day will be May 29, the airline said on Tuesday. The company will immediately begin searching for a replacement. (bit.ly/1DsR1MQ) ($1 = C$1.27) (Compiled by Zara Mascarenhas in Bengaluru)

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