July 9, 2015 / 11:20 AM / in 2 years

PRESS DIGEST- Canada- July 9

July 9 (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

** A pair of investors has scrapped a $2 billion takeover offer for Pacific Rubiales Energy Corp after facing a opposition to the deal in a campaign led by shareholders. Pacific Rubiales said Mexico's Alfa SAB and Harbour Energy Ltd, which had offered $6.50 per share for the company, had withdrawn the bid they had launched in May. (bit.ly/1KQJNX8)

** The Quebec government is heading back to court to again challenge Ottawa's plan to create a national securities regulator. Quebec has sent the securities regulator proposal to the Quebec Court of Appeal for a decision on its constitutionality. (bit.ly/1KQJYBZ)

** Precision Drilling Corp, Canada's largest drilling services company, sees the potential for more spending by customers in the second half. The company sees some room for the North American rig count to rebound as customers restart wells and upgrade equipment after cutting costs, chief executive Kevin Neveu said in an interview. (bit.ly/1KQK5gE)

NATIONAL POST

** Bank of Montreal's Doug Porter and Royal Bank of Canada's Mark Chandler joined a growing list of economists calling for Canada's central bank to cut interest rates next week on signs of a faltering recovery. The two predicted Wednesday the Bank of Canada will reduce its overnight rate to 0.5 per cent at the next decision July 15. (bit.ly/1KQKsYN)

** BHP Billiton Ltd, Teck Resources Ltd, HudBay Minerals Inc and China Molybdenum Co Ltd are among the companies that submitted final bids for Barrick Gold Corp's Zaldivar copper mine in Chile, people with knowledge of the matter said. (bit.ly/1KQKy2k)

** Ottawa needs to build a fund of up to $9 billion that would cover taxpayer losses from mass defaults and staunch the effects of a U.S. style housing collapse, a new report by the C.D. Howe Institute claims. (bit.ly/1KQL54B) (Compiled by Mansi Goenka in Bengaluru)

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