May 24, 2013 / 9:43 AM / in 5 years

PRESS DIGEST-Canada-May 24

May 24 (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 GLOBE AND MAIL

* Toronto Mayor Rob Ford’s executive committee is preparing to take the extraordinary step of publicly urging the troubled leader to confront allegations of drug use, and is making contingency plans to run the city in his absence. ()

* Canadian Prime Minister Stephen Harper admitted “perhaps” he should have acted more quickly after revelations that his chief of staff Nigel Wright dipped into his personal wealth to repay senator Mike Duffy’s improperly claimed housing expenses. ()

Reports in the business section:

* The Quebec government announced plans to hold its own hearings on Enbridge Inc’s proposed pipeline project to bring western oil to Montreal, a move that could raise roadblocks to Alberta’s efforts to access new markets for its growing oil production. ()

* Mobilicity’s bond holders are hedging their bets by giving their blessing to a $380 million acquisition deal by Telus Corp , while postponing a separate vote on a backup plan should the federal government end up killing the controversial deal. ()

* Flexjet, which caters to flyers sharing in the ownership of a business jet, said sales bounced back strongly in the first quarter, indicating a recovery in demand. The division of Montreal-based Bombardier Inc said it reported new business growth of 83 per cent in the first quarter, compared with the year earlier period. ()

NATIONAL POST

* The Canadian federal government threatened “retaliatory measures” against the United States in a dispute over meat labeling that Ottawa and the World Trade Organization (WTO) consider discriminatory. The U.S. government announced new regulations on “country of origin labeling” that would track beef and hogs from livestock right through the meat processing and distribution systems. ()

* The personal use of illicit drugs, from heroin to crack cocaine, should be decriminalized as part of a federal provincial strategy to tackle drug abuse, British Columbia-based Canadian Drug Policy Coalition said in a report. ()

FINANCIAL POST

* Ontario Municipal Employees Retirement System (OMERS) Sponsors Corporation, one of Canada’s largest pension funds, is facing a $10 billion pension funding deficit and considering a drastic proposal that would reduce benefits paid to retiring workers, or force them to work years longer for the same retirement income. ()

* Canadian Finance Minister Jim Flaherty said steps he took to tighten mortgage lending rules over the past four years have helped to moderate price increases in the nation’s housing market. ()

* Alberta’s bitumen growth prospects could slow on shortages of a much lighter product as companies opt to send crude directly to refineries on the U.S. Gulf Coast and in Asia rather than process the stuff at home. ()

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