October 27, 2015 / 11:30 AM / 3 years ago

PRESS DIGEST- Canada-Oct 27

Oct 27 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Roots Canada Ltd is entering a new era as co-founders Michael Budman and Don Green cede majority control of the 42-year-old chain to a private equity firm amid a more intense fashion retail landscape. The founders said Searchlight Capital Partners LP, an investment firm, bought a majority stake in Roots for an undisclosed amount in a bid to expand the retailer in North America, Europe and Asia. (bit.ly/208cq7U)

** Alberta's oil sector has lost its competitive edge over the United States, so any changes to royalties should be aimed at wresting it back rather than increasing costs, the industry's lobby group has told a government-appointed panel studying the issue. (bit.ly/1GuW2be)

** The Quebec government is proposing to spend C$420-million ($318.5 million) by 2020 to boost sales of electric and hybrid vehicles in the province to 100,000 units annually, about five times the current number sold in the entire country every year. (bit.ly/1WfcGmi)


** Bombardier Inc will lose $32 million on each of the first 50 CSeries aircraft it builds, meaning the program will continue to bleed billions of dollars through at least 2018, according to a new analysis by United States aviation consultancy Leeham Co (bit.ly/208dkRV)

** Canada Mortgage and Housing Corp (CMHC) issued a dim forecast for the housing market for the next two years and predicted dismal price growth. CMHC expects existing home sales to decline by 3 percent in 2016 but by less than 1 percent in 2017. New home construction will drop by 4.7 percent in 2016 and another 2.5 percent in 2017 as builders try to sell off their excess inventory. (bit.ly/1RxlMnv)

** The Ontario government is struggling to explain whether it's a normal practice to pay teachers' unions millions in compensation for negotiating costs. The Ontario Liberals can't seem to say whether the payouts were routine practice or a symptom of new bargaining legislation, even as Education Minister Liz Sandals says the payout won't be necessary in future talks. (bit.ly/1PQS4vx) ($1 = 1.32 Canadian dollars) (Compiled by Sangameswaran S in Bengaluru)

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