October 18, 2011 / 10:03 AM / in 6 years

PRESS DIGEST - CANADA - Oct 18

Oct 18 (Reuters) - The following are top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE GLOBE AND MAIL:

-- Unable to walk a picket line as strikers, Air Canada ACa.TO flight attendants decided to protest outside the Calgary constituency office of Prime Minister Stephen Harper on Monday.

Decked out in purple, their union’s colour, about 50 flight attendants turned up at a suburban strip mall to demonstrate against the federal government’s decision to prevent a strike at the country’s largest carrier.

-- There may be some relief for Quebec Liberals waiting in anticipation for an expected announcement on Tuesday by their leader Premier Jean Charest that he has finally bowed to public pressure and will hold an inquiry into corruption in the construction industry.

Report on Business Section:

-- After a year of stumbles, Jim Balsillie is predicting a turnaround for Research In Motion Ltd . The BlackBerry maker’s co-chief executive officer, under siege from investors and customers after a series of public missteps, says the company will finally deliver an answer to its legions of critics on Tuesday as it opens up a crucial conference for software developers in San Francisco.

-- The U.S. Federal Reserve’s drive to push down interest rates is taking a dramatic toll on Sun Life Financial Inc , forcing one of Canada’s biggest life insurers to warn of its first quarterly loss in two years.

Sun Life said it expects to post a C$621 million loss for the July-September period when it officially reports its financial results on Nov. 2.

NATIONAL POST:

-- Canada will press ahead with billions of dollars in cuts to wipe out its budget deficit, despite an uncertain world economic outlook, and may even reduce spending more deeply than already promised, the federal minister in charge of the program said on Monday.

-- The New Democratic Party has returned money donated in memory of former leader Jack Layton, which was supposed to be redirected to a left-wing think-tank that has yet to open.

Financial Post section:

-- Finance Minister Jim Flaherty tore a strip off European political leaders on Monday for dithering while their economy has faltered, putting the entire world in jeopardy of another recession.

-- Canada’s heavyweight energy sector is expected to deliver strong third-quarter results starting this week, but with stock prices dragged down by the eurozone crisis and the economic outlook uncertain, the coming months could see a return to cautious spending and more takeover activity.

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