October 2, 2015 / 11:00 AM / 3 years ago

PRESS DIGEST- Canada- Oct 2

Oct 2 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** National Bank of Canada announced job cuts and a new share offering, in a surprise move that acknowledged volatile markets and shifting consumer preferences for the way they conduct regular banking. The bank said the share offering would raise C$300 million ($226.53 million), providing a cushion to regulatory requirements that mandate how much capital a bank must hold. (bit.ly/1P8IhAJ)

** Repsol SA, the Spanish oil company that took over Calgary-based Talisman Energy Inc this year, is cutting 1,500 jobs as it seeks to reshape itself against a backdrop of depressed world oil prices. Repsol did not say how many of the cuts will be in Canada. The staff reductions, to be made over three years, represent almost 6 percent of the company's global work force. (bit.ly/1P8Inbv)

** A Chinese-owned mine in northeastern British Columbia has passed another hurdle toward opening its controversial coal project. British Columbia's government has granted an environmental assessment certificate to HD Mining International Ltd for the Murray River Coal project, near Tumbler Ridge. (bit.ly/1P8Ipju)


** SNC-Lavalin is turning another page on its sullied past with a deal to settle corruption allegations in two African countries in a move it hopes could provide a formula to resolve problems in Canada. Under the deal, the company has agreed to pay C$1.5 million and accept certain conditions to settle a corruption case filed by the African Development Bank Group, both the bank and SNC said Thursday. (bit.ly/1P8IF1S)

** Minimum wage earners in five provinces are getting a pay hike. Starting Thursday, Alberta, Saskatchewan, Manitoba, Ontario and Newfoundland and Labrador are raising the minimum wage employers must pay their workers. Alberta's New Democratic Party government says it's a first step toward a C$15 minimum wage by 2018. (bit.ly/1L05sqB)

** Canadian Volkswagen sales fell off a cliff in September, plunging 19.6 percent even though the company's emissions-rigging scandal didn't come to light until the latter half of the month. The Volkswagen fallout had little impact on overall Canadian auto sales, which rose 3.7 percent to the seventh monthly record so far this year. (bit.ly/1P8JcB9) ($1 = 1.3243 Canadian dollars) (Compiled by Mansi Goenka in Bengaluru)

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