November 4, 2011 / 10:29 AM / 7 years ago


Nov 4(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 RCMP probe into alleged corruption among Canada Revenue Agency officials in Montreal has ballooned to other offices of the tax-collection agency across Quebec, sources say.

It has received new allegations that federal auditors used their privileged positions to line their pockets.

— The surprise scrapping of the Greek referendum delivered a rare victory to euro zone leaders, but a fresh crisis has erupted in debt-swamped Italy, an economic giant whose collapse would make Greece’s woes look like a minor headache.

Reports in Business Section:

— Canada’s oil sands companies are warning that a U.S. rejection of the Keystone XL pipeline would slam the door on their plans to expand exports into the lucrative American market.

In a measure of the substantial national and corporate interest riding on the controversial TransCanada Corp project, both supporters and opponents are attempting to raise the stakes on a Washington approval verdict that had been expected by year-end, although it may now be delayed.

— Groupon Inc is set to raise $700-million in its initial public offering after the largest daily deals company increased the price and size of the deal on strong demand.

Groupon priced the IPO at $20 per share, above the initial range of $16 to $18, two market sources told The Globe and Mail on Thursday. The company is selling 35 million shares, up from 30 million previously planned, the sources added.


— For the first time since the March ascension of Premier Christy Clark, British Columbia’s governing Liberals have dropped to second place behind the New Democrats, according to a poll released Thursday by Angus Reid.

— The Conservative government on Thursday approved Michael Ferguson as Canada’s auditor-general for the next 10 years - ignoring its own job requirements and opposition protests that he is unqualified for the post because he does not speak French.

Financial Post section:

— BCE Inc is getting more aggressive in an intensifying fight for television and wireless subscribers with cable competitors Rogers Communications Inc (RCIb.TO) and Videotron Ltee. It is also getting leaner, slashing 1,200 jobs from middle management in the most recent quarter.

Bell Canada Inc (BCE_pe.TO), the operating business of BCE, achieved its goal of winning “more than one-third” of all new smartphone customers, chief executive George Cope said Thursday on a call to discuss third-quarter earnings.

— Don Walker, chief executive of Magna International Inc , hopes the worst is behind the company’s embattled European division. But with the threat of another recession in Europe looming, there might be more pain ahead, at least one analyst warned Thursday as the auto-parts maker delivered another disappointing result.

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