July 30, 2015 / 11:04 AM / 3 years ago

PRESS DIGEST- Canada - July 30

July 30 (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 effects of falling oil prices are only starting to be felt in Calgary's housing market, the city's local real-estate board warned, with home prices expected to fall further as unemployment continues to rise. Resale home prices likely will end the year 0.2 percent lower for the year, the Calgary Real Estate Board predicted in a mid-year forecast. (bit.ly/1h7g7ZD)

** Trading was halted on Home Capital Group Inc's stock after the company revealed late Wednesday that it cut ties with dozens of mortgage brokers in the wake of an investigation that revealed they had falsified documents about borrowers' incomes. The details of the internal investigation, which began last fall, were made public at the request of the Ontario Securities Commission, the company said. (bit.ly/1MvjR2V)

** Open Text Corp dished out a serving of surprisingly good news with a side order of worse-than-expected news as it announced its fourth-quarter results on Wednesday. The business software company said it earned $482.7 million in revenue in the period ended June 30, after warning just two months ago that it would only bring in between $440 million and $455 million. (bit.ly/1Mvk5qW)


** The Conference Board of Canada cut its forecast to just 1.6 percent growth for the year, the worst since 2009, and warned that more disappointment could lie ahead. Topping the board's list of suspects dragging down economic activity are the oil-price rout and weak business investment by Canadian companies. (bit.ly/1MVS7Ct)

** TransUnion, a leading U.S. credit agency, is predicting consumers in oil-dependent provinces will face "sharp" increases in credit and loan product delinquencies in the coming quarters. "Based on an historical analysis of the last oil crash and recent payment behavior trends, we expect materially higher delinquency rates in Alberta and Saskatchewan in the second half of 2015," said Jason Wang, director of research and industry analysis in Canada for TransUnion. (bit.ly/1MVSgG0)

** Torstar Corp surprised Bay Street analysts on Wednesday by announcing it had spent $200 million to acquire a 56 percent stake in VerticalScope Inc, a Toronto-based company that operates more than 600 digital properties that cover everything from cars to pets to powersports. (bit.ly/1MVSgWF) (Compiled by Mansi Goenka in Bengaluru)

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