September 22, 2016 / 11:47 AM / 2 years ago

PRESS DIGEST- Canada- Sept 22

Sept 22 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** A U.S. metals and mining company is offering to invest about $500 million to purchase U.S. Steel Canada Inc and keep the troubled steelmaker operating. Bedrock Industries LP has emerged from among several contenders as the Ontario government's preferred candidate to complete the restructuring of U.S. Steel Canada.

** A $400 million revamp of a General Motors Co assembly line in Oshawa, Ontario will permit workers to perform final assembly of pickup trucks, sources with knowledge about a deal between the company and the union representing its Canadian workers said. The concept is one already in place in Oshawa, but the factory will do final assembly of pickup trucks sent by rail from a GM pickup truck assembly plant in Fort Wayne, Indiana, the sources said.


** One day after the TMX Group Ltd announced plans to cut its workforce by 10 percent over the next nine months, Chief Executive Lou Eccleston said the measures taken are "not about cost cutting." He also insisted the TMX is meeting the terms of the so-called recognition order that was demanded by regulators four years back when they approved the Maple Group's acquisition of the TSX Venture Exchange.

** Even with the increase in renewable energy sources and the advent of electric cars, global demand for oil and gas is expected to grow for the next 25 years, says the head of one of Canada's largest energy companies. "What we see are global megatrends that will continue to drive the world demand for energy," Rich Kruger, President and CEO of Imperial Oil Ltd , told investors Wednesday. (Compiled by Rama Venkat Raman in Bengaluru)

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