July 9, 2013 / 11:04 AM / in 4 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.


* Toronto’s subway lines, as well as numerous traffic lights and street lights went out across the city during a massive thunderstorm. Environment Canada said some parts of the greater Toronto area had been drenched with more than 100 millimeters of rain. ()

* Hundreds of passengers were stranded on a flooded GO Transit train for nearly seven hours after heavy rains dumped a record level of rainfall on the city Monday evening. ()

* Edward Burkhardt, the chairman of Montreal, Maine and Atlantic Railway, the company at the center of a devastating blast, is accusing firefighters of shutting down the locomotive hours before it rolled into Lac-Mégantic, Quebec. ()

Reports in the business section:

* Canada’s oil industry faces the risk of tightened regulations on fuel shipments following Saturday’s Lac-Mégantic rail disaster, just as companies are relying on rails to get rising production volumes to market. ()

* The horrific explosion and widespread destruction of the small Quebec town of Lac-Mégantic, caused by a runaway train carrying 72 cars of crude oil early Saturday morning, has suddenly put Edward Burkhardt and his holding company, Rail World Inc, under intense glare. ()

* Real estate firm Royal LePage expects Canadian house prices to remain soft for almost another year. But the bottom line in a new survey is that they’ll continue to rise. Just at a slower pace. ()


* Death toll in the Lac-Mégantic train disaster rose to 13 after the provincial police announced that eight more bodies had been found on Monday. About 50 people have been declared missing after the explosions and fire that devastated much of the downtown. ()

* Toronto was hit with heavy rains, flooding and power outages Monday afternoon as a sudden storm drenched the city and brought transit to a standstill. ()

* The opposition New Democrats called on Prime Minister Stephen Harper to clean house on Monday after allegations in a court document that key advisers and a Conservative senator were aware of a plan for Harper’s right-hand man to personally help Senator Mike Duffy repay C$90,000 ($85,200) in improper expense claims. ()


* Chicago-based businessman Edward Burkhardt and the staff at one of his companies, little-known Montreal, Maine & Atlantic Railway (MMA), are being vilified after one of the deadliest train accidents Canada has ever seen. ()

* Investors and analysts will likely have some tough questions for BlackBerry’s new chief executive Thorsten Heins and the board regarding the company’s strategy at its annual general meeting on Tuesday. Investors will also be looking for some insight into whether the Q5 smartphone will come to North America, and what the company’s device pipeline looks like for the rest of 2013 and beyond. ()

* Companies are pulling back on their investment plans and keeping hiring modest amid growing uncertainty over the economic recovery, a Bank of Canada survey of business intentions suggests. ()

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