July 10, 2015 / 11:30 AM / 3 years ago

PRESS DIGEST- Canada- July 10

July 10 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Vancouver-based Teck Resources Ltd is delaying the planned startup of its multibillion-dollar Frontier oil sands mine by at least five years, until 2026, becoming the latest company to push back development as shaky energy markets threaten profits in the high-cost sector. (bit.ly/1KU2E3H)

** The International Monetary Fund has slashed its projection for Canadian economic growth this year. In its quarterly World Economic Outlook update released Thursday morning, the IMF forecast that Canada's real gross domestic product would grow just 1.5 percent this year, down sharply from 2.2 percent in its April outlook. (bit.ly/1KU2JUW)

** After reporting yet another quarter of steep losses, Postmedia Network Canada Corp's leaders were publicly scolded Thursday by high-profile investor Conrad Black, the former proprietor of some of Postmedia's newspapers. Postmedia reported its first public numbers since acquiring 175 Sun Media newspapers, specialty publications and digital assets from Quebecor Inc. Excluding the new assets, the company reported a 13.5-per-cent drop in revenues, including another year-over-year plunge in print advertising revenues. (bit.ly/1ScMEZB)


** Sleep Country Canada Holdings Inc, Canada's largest mattress retailer, boosted its initial public offering by 50 percent to C$300 million ($236.35 million), according to people familiar with the matter. The Toronto-based company initially sought to sell C$200 million of shares for C$14 to C$16 each, according to a June 23 filing with regulators. (bit.ly/1ScMXnb)

** Royal Dutch Shell Plc may consider restarting mothballed oilsands projects, but not until oil prices return to $80 per barrel, according to the company's top executive in North America. (bit.ly/1ScN41S)

** Demand for luxury homes in Vancouver is so high that shoppers are willing to pay a premium for residences that already have buyers, spurring people with deals in place to flip the properties. Rising demand has led to an increase in bidding wars, Sotheby's International Realty Canada said Thursday. (bit.ly/1ScNxBs) ($1 = 1.2693 Canadian dollars) (Compiled by Mansi Goenka in Bengaluru)

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