July 16, 2015 / 10:54 AM / 3 years ago

PRESS DIGEST- Canada - July 16

July 16 (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 Bank of Canada lowered its trend-setting overnight rate a quarter percentage point Wednesday to 0.50 percent - the second rate cut in six months. (bit.ly/1fLnzJn)

** Shaw Communications Inc said Thursday it will open a 40,000-square-foot data center in Calgary and launch a number of cloud computing and data management services aimed at enterprise customers. (bit.ly/1fLnEgl)

** Premium apparel producer and retailer Tilley Endurables Inc, known for its hard-wearing sun hats, has been sold to a private equity firm, with the goal of reversing its slide in sales amid tougher competition. Re:Capital, the Canadian arm of British firm Hilco Capital, has acquired Tilley, the company said on Wednesday. (bit.ly/1I58GOo)


** Waste disposal company Stericycle Inc said it would buy privately held Shred-it International Inc, a secure information destruction services provider, for $2.3 billion in cash. (bit.ly/1fLojy9)

** Cogeco Inc's profit and revenue jumped in the third quarter, mainly on the back of growth in its U.S. cable services as well as favorable exchange rates. Revenue for the Montreal-based company increased by 4.1 percent to $557.8 million. (bit.ly/1fLoXMi)

** The Canadian government is actively consulting on a move to increase the minimum down payment required to buy a house. Sources say that Ottawa has been studying proposals to increase the minimum down payment from five percent and said the government is particularly keen on adding restrictions for high-priced housing. (bit.ly/1fLp5eH) (Compiled by Mansi Goenka in Bengaluru)

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