September 3, 2013 / 10:10 AM / in 4 years

PRESS DIGEST-Canada-Sept 3

Sept 3 (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 Prime Minister’s advisers have dismissed a warning by a respected think tank that ultra-low interest rates need to start rising now to avoid damage to the Canadian economy. ()

* Canada’s banking regulator has been gathering detailed mortgage information from financial institutions, in what could be a precursor to changes in the rules for home loans. The Office of the Superintendent of Financial Institutions has spent months considering a tightening of mortgage rules for lenders, a decision that’s being weighed as the housing market begins to pick up after a year-long slump. ()

Reports in the business section:

* Verizon Communications Inc is ruling out expansion into Canada in the wake of its $130-billion deal to take full control of its wireless arm, eliminating Ottawa’s best hope of attracting a new wireless carrier to compete with the country’s three incumbents. ()

* Carol Hansell, one of Canada’s more prominent corporate governance advisers, is leaving her long-time Bay Street law firm to found a new legal boutique specializing in boardroom issues. ()


* Union members flooded the streets of Toronto in a spirited Labour Day celebration emboldened by the birth of the country’s biggest union Unifor, formed this weekend from a merger between the Canadian Auto Workers and Communication, Energy and Paperworkers unions. ()

* The U.S. ambassador to Brazil met with his Brazilian counterpart Monday following new revelations that the National Security Agency’s spy program directly targeted the South American nation’s leader. ()

* Negotiations to transfer ownership of the world-renowned Experimental Lakes Area from the federal government to a Winnipeg-based think-tank will continue until March 2014 under a new transitional agreement, Ontario Premier Kathleen Wynne announced on Monday. ()


* Green shoots of recovery seem to have sprouted eight months after Industry Canada bombed the landscape by ruling out majority stakes by foreign national oil companies in the oil sands. FP Infomart data show energy deals worth $3-billion were completed in the first half of the year, compared with the $25-billion worth of deals transacted during the same period last year. ()

* Bombardier Inc is aiming to have its new CSeries jet in the sky by Sept 17. The Montreal-based manufacturer received its flight permit from Transport Canada Friday that will allow Bombardier to start high-speed taxi tests on the flight test vehicle, one of the final tests for the aircraft ahead of first flight. ()

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