October 16, 2013 / 10:10 AM / 5 years ago

PRESS DIGEST- Canada- Oct 16

Oct 16 (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 federal government will pledge action in the Throne Speech aimed at eliminating the gap between the sticker price of consumer goods sold in Canada and the United States, sources say - part of a new populist agenda that will require little extra spending in cash-strapped Ottawa. The Conservatives are targeting public frustration at the persistent premium Canadian consumers must pay for a range of brand-name goods, such as clothing, appliances, toiletries or books, compared with what Americans are charged for the same products. ()

* British Columbia’s real estate market is enjoying a jump in sales after last year’s slump, with average prices getting a lift from the increased housing demand. There were 6,498 sales on the Multiple Listing Service last month across the province, up 43.2 per cent from September of 2012, the B.C. Real Estate Association said on Tuesday. ()

Reports in the business section:

* British Columbia has stiffened its stance on ensuring it receives financial benefits from any new oil shipped through the province on the way to global markets. In an outline of plans to jointly develop new international export markets, B.C. and Alberta agreed to discuss how B.C. could reap “fiscal and economic benefits” should new oil pipelines be built in Canada’s westernmost province. ()

* As baby boomers edge closer to retirement, banks, independent retail brokerages and insurers want to capitalize on these consumers’ need for money management, retirement and estate planning, investment protection and advice. Insurers have been bulking out their asset management business further by acquiring smaller competitors both abroad and at home. ()


* In placing consumer protection at the heart of its new agenda, the Conservative government has signalled it will not be outbid on the question of who truly represents the interests of the middle class. It is a classic flanking manoeuvre, intended to stop Liberal Leader Justin Trudeau in his tracks. ()


* Head office employees at Sears Canada Inc are bracing for more layoffs as the struggling retailer moves forward under its new turnaround specialist Chief Executive Doug Campbell. Sources say Sears Canada held a series of meetings last week to outline its strategies, which include a goal of streamlining head office and decreasing salaries. ()

* Shares in SNC-Lavalin Group Inc will come under severe pressure on Wednesday after Canada’s biggest engineering company issued a revised fiscal outlook that predicts its annual profit will be four times less than previously expected. ()

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