October 20, 2011 / 10:04 AM / 7 years ago


Oct 20 (Reuters) - The following are top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


— Canada’s economy has boomed for much of the past two decades, yet that expansion has not sparked equally robust improvements in Canadians’ quality of life.

That is the key finding of the Canadian Index of Wellbeing, a composite guide launching Thursday that claims to be one of the first of its kind in the world. It seeks to provide a fuller picture of the country’s economic health than the widely used gross domestic product.

— The Canada Pension Plan Investment Board is partnering with Microsoft Corp and a private equity firm in a possible bid for Yahoo Inc , according to a report in the Wall Street Journal.

Report on Business Section:

— A battle is shaping up between global mining giant Rio Tinto Plc and Canada’s Cameco Corp over a promising uranium explorer in Saskatchewan, with Cameco under pressure to win as it seeks to double production of its single resource.

— The engine of the Ontario economy is starting to hum again, propelled mainly by a return to full production at Japanese auto makers’ plants.

Honda of Canada Manufacturing in Alliston, Ontario, said on Wednesday it will begin cranking out 1,600 vehicles a day in November, more than two years after it cut production during the recession and about eight months after it slashed output because of disruptions caused by the March 11 earthquake in Japan.


— A cross-country political dogfight over shipbuilding contracts ended in a win for both coasts on Wednesday, as the federal government awarded $33 billion in contracts to drydocks in Halifax and Vancouver and froze out Quebec.

Irving Shipbuilding in Halifax will receive a $25 billion naval vessel building contract, while Seaspan Marine in Vancouver will receive an $8 billion contract for building coast guard and other non-navy ships.

— Canadian consumers are justifiably “annoyed and perplexed” when they see products being sold for a higher price in Canada than in the United States, says Finance Minister Jim Flaherty.

The minister made the remarks on Wednesday evening at a Senate committee that has launched a study at Flaherty’s request, into cross-border price discrepancies.

Financial Post section:

— The closing of an ancient, sprawling old Schneider’s factory in Kitchener, Ontario, and the planned construction of a gleaming, high-tech prepared meats facility down the highway in Hamilton, together illustrate the modernization of Maple Leaf Foods.

Long targeted for its inefficiencies, the company will invest $560 million to improve its earnings and update its infrastructure, a plan that will cut more than 1,500 jobs, the company announced on Wednesday.

— The head of Toronto-Dominion Bank is warning that Canada is headed for the same long-term economic maelstrom that is already causing havoc in Europe and the United States, but in our case “we have hardly begun to appreciate the implications.”

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