May 27, 2016 / 11:02 AM / a year ago

PRESS DIGEST- Canada-May 27

May 27 (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

** Canadian companies suffered their least-profitable quarter in more than five years in the first quarter, as the damage from the oil crash reached new depths. Statistics Canada's quarterly survey of private-sector, for-profit corporations said countrywide operating profits totalled C$73.1-billion ($56.09 billion)- their lowest since Q4 2010. (bit.ly/1WQj4zK)

** Toronto homeowners may get a shock later this month when they open their property assessment notices to find the value of their home has jumped nearly 50 percent. The latest assessment data released by the Municipal Property Assessment Corp show property values in Toronto have appreciated 30 percent on average over the past four years. (bit.ly/1TZX53k)

** Donald Trump's hold on an eponymous Toronto hotel is slipping away, as one-time partner Alex Shnaider and his bank attempt to sell Trump International Hotel & Tower Toronto or put the troubled property into creditor protection and sever their management contract with Trump's company. (bit.ly/1RwbHp6)

NATIONAL POST

** Canadian PM Justin Trudeau got an "unequivocal" commitment from other G7 countries on Friday to not pay terrorist groups to release kidnapped hostages and got some backing for Canada's position that the world's leading economies most do more to empower women. (bit.ly/1TEkRCe)

** The Trans Mountain pipeline expansion project will not face multi-year delay, Kinder Morgan Canada president Ian Anderson said on Thursday. Anderson said his company would begin construction work on Trans Mountain next summer, assuming it receives final federal approval in December. (bit.ly/1seLCXc)

** Three of Canada's big banks disclosed higher impaired loans and loan loss provisions related to weakness in the oilpatch on Thursday, but the financial damage was not as extensive as many had feared, with one bank suggesting a "high water mark" may have been reached. (bit.ly/1sBTEcp) ($1 = 1.3033 Canadian dollars) (Compiled by Bhanu Pratap in Bengaluru)

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