October 10, 2013 / 10:35 AM / 5 years ago

PRESS DIGEST- Canada- Oct 10

Oct 10 (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 arrival of price-slashing U.S. retailers, a high-profile Senate investigation and tariff cuts on select consumer products have done little to narrow the persistent gap between Canadian and U.S. prices. There is still a substantial 10-percent spread, based on a basket of consumer products surveyed by the Bank of Montreal. The last time BMO sampled cross-border prices in May 2012 the gap was 14 percent. ()

* Canadian Prime Minister Stephen Harper’s former chief of staff had a binder full of details on Senator Mike Duffy’s official and personal activities, but appears not to have provided it to auditors reviewing Duffy’s expenses nor to police when they first opened an investigation.()

Reports in the business section:

* A Canadian firm is at the heart of America’s historic healthcare overhaul - and smack in the middle of a political maelstrom. A unit of CGI Group Inc, the information technology giant based in Montreal, is the main contractor behind the new federal marketplace for health insurance. The system is the centrepiece of the Affordable Care Act, better known as Obamacare. ()

* The chief executive of Rogers Communications Inc is apologizing for a national outage that knocked out voice and texting services across the company’s wireless network. Nadir Mohamed issued his statement early Thursday, after Rogers said its entire wireless network had been restored shortly before midnight eastern time. ()


* NDP would pay for future spending commitments by raising corporate taxes back to the level they were at when the Conservatives took office in 2006, said party leader Tom Mulcair. The Conservatives have steadily reduced the federal corporate rate to 15 percent from 22 percent in 2006. The NDP leader mused about hiking corporate taxes during a caucus retreat in Saskatoon, while committing that Canadian combined federal and provincial rates would be “several points” lower than the combined U.S. federal and state rate of nearly 40 percent. ()


* Kinross Gold Corp has pulled off an increasingly rare feat in the mining industry: building a project on time and on budget. The Toronto-based miner announced Wednesday that its remote Dvoinoye mine in Northeast Russia has entered commercial production. Kinross bought the project back in 2010 and built it for a reasonable price of about $360 million. ()

* Giving a cash infusion to its shareholders will not take Jean Coutu Group Inc’s out of the running for making future acquisitions, the drug retailer’s chief executive said on Wednesday. Speculation that the company was building up a war chest with proceeds from its sale of shares in the U.S. retailer Rite Aid Corp was dampened this week after the company announced it would return up to C$502 million ($482.81 million)to shareholders through a share buyback and a special one-time cash dividend. ()

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