October 31, 2011 / 10:00 AM / 7 years ago


Oct 31 (Reuters) - The following are top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


— A second figure linked to the major banking scandal that has rattled Iran’s financial and political circles is now confirmed to be in Canada, in addition to the top Iranian banker who moved to Toronto last month.

The latter, Mahmoud Reza Khavari, a dual Iranian-Canadian citizen and former chairman of Iran’s largest bank, is wanted for questioning in Tehran. There is no extradition treaty between the two countries.

— During this week’s G20 summit in France, Prime Minister Stephen Harper will present himself as a steward of strong banks and relatively strong government books, while Bank of Canada Governor Mark Carney may finally be promoted to head an international bank-governance body. For most observers, however, the meeting in Cannes will be about changing economic leadership in a time of deepening crisis.

Reports in Business Section:

— After months of deliberation, TMX Group’s , board of directors has opted to back Maple Group Acquisition Corp’s $3.8-billion takeover bid.

The support comes after TMX initially rejected the offer in favour of its own merger with London Stock Exchange Group. That deal was ultimately shot down by shareholders back in June and investors have since wondered whether TMX’s board would change its mind now that only one deal is left on the table. Late on Sunday, the answer was delivered.

— The U.S. hedge fund manager who has emerged as the largest shareholder of Canadian Pacific Railway Ltd is expected to initiate talks with the company as early as this week in a bid to prompt a strategic review of its operations.

William Ackman, chief executive officer of Pershing Square Capital Management LP, disclosed late Friday that his New York investment firm has bought 12.2 per cent of CP. The information came in a so-called 13D filing with U.S. regulators — a filing usually made by investors who intend to take an active role in pushing for change at a public company.


— A decade after Canada legalized the medical use of marijuana, most doctors are still refusing to sign the declarations patients need to get legal access to pot — meaning patients in pain risk being jailed if they use a drug that helps them function.

It’s a predicament that threatens to become worse because of proposed changes to how Health Canada regulates access to the drug.

— As a leaderless and barrier-free movement, Occupy Montreal is open to the city’s homeless, some of whom suffer from mental troubles. This has challenged volunteers at the encampment, who must often contend with aggressive or anti-social behaviour from passing itinerants.

“Sometimes they can get out of control,” said Eric Bouthillette, an occupier who volunteers as a “mediator,” who intervenes when things get ugly. First, he tries diplomacy. If that doesn’t work, he calls the cops.

Financial Post section:

— Europe should not expect China to ride to the rescue as its “saviour” from the debt crisis, though Beijing will do what it can to help a friend in need, state-run news agency Xinhua said in a commentary on Sunday.

The head of Europe’s rescue fund sought to entice China on Saturday to invest in the facility by saying investors may be protected against a fifth of initial losses and that bonds could eventually be sold in Yuan if Beijing desires.

— Global consumer confidence remained weak in the third quarter with more than 60 percent of consumers saying it was not a good time to spend, and one in three North Americans saying they have no spare cash, a survey showed Sunday.

The economic outlook, followed by job security, became consumers’ biggest concern in the third quarter, overtaking worries about rising inflation, according to the quarterly survey by global analytics and information company Nielsen.

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