Company News

PRESS DIGEST- Canada- July 2

July 2 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Mortgage insurer Genworth Financial Inc is considering spinning out its large Canadian subsidiary after Ottawa raised national-security concerns about a sale of the entire company to a Chinese conglomerate, China Oceanwide Holdings Group Co Ltd.

** Larry Tanenbaum, private equity investor and co-owner of the Toronto Raptors, and a unit of Italian catering company Autogrill Group, sold their joint interest in Ontario's 23 ONroute service centres.

** A new policy implemented in early June by Transport Canada on cannabis regulation is driving a rift between employers and workers, particularly in safety sensitive industries, as some unions argue that overly cautious policies amount to an outright ban on the drug.

** Montreal based Alaya Care has raised C$51 million ($38.87 million) from iNovia Capital, Caisse de dépôt et placement du Québec and Investissement Québec. ($1 = 1.3122 Canadian dollars) (Compiled by Bengaluru newsroom)