May 18, 2016 / 10:52 AM / a year ago

PRESS DIGEST- Canada-May 18

May 18 (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

** Canada's two major railways are slashing expenses and eyeing more layoffs amid a slump in freight made worse by the fires in Northern Alberta. Canadian National Railway Co has laid off 1,200 people and parked 400 locomotives, whereas Canadian Pacific Railway Ltd has laid off about 1,300 people and idled 665 locomotives. (bit.ly/1Tnbw3Z)

** Alberta's wildfires took a sudden shift toward major oil sands plants north of Fort McMurray, overrunning at least one work camp and throwing into limbo plans to restart more than one million barrels per day of lost production. (bit.ly/1OzjDWQ)

** Canadian Imperial Bank of Commerce conducted an internal investigation into alleged misbehaviour on its trading floor amid claims of sexual harassment. Earlier this year, the bank hired an outside firm to question trading floor staff about a series of alleged incidents, according to three people familiar with the situation. (bit.ly/1V8TcxZ)

NATIONAL POST

** Canadians with the worst credit ratings are ramping up their debt, but the opposite is true for people with good credit, who continue to pay down their loans, according to a survey released on Wednesday by credit rating agency TransUnion. (bit.ly/1TjqV33)

** An assessment by the Conference Board of Canada estimates that the fire in northeastern Alberta resulted in a loss of 1.2 million barrels of oil per day for two weeks, translating into C$985 million ($760 million) in lost gross domestic product. (bit.ly/1OzlPxq)

** Hudson's Bay Co announced on Tuesday it will open 20 stores in the Netherlands beginning in 2017 - 17 under its namesake banner, and three under the discount luxury banner Saks Off Fifth. The new project is expected to create about 2,500 construction jobs and an equal number of positions in the stores. (bit.ly/1TjseyK) ($1 = 1.2965 Canadian dollars) (Compiled by)

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