PRESS DIGEST- Canada- Oct 10

Reuters

Oct 10 (Reuters) - The following are the top stories fromselected Canadian newspapers. Reuters has not verified thesestories and does not vouch for their accuracy.

THE GLOBE AND MAIL

* The arrival of price-slashing U.S. retailers, ahigh-profile Senate investigation and tariff cuts on selectconsumer products have done little to narrow the persistent gapbetween Canadian and U.S. prices. There is still a substantial10-percent spread, based on a basket of consumer productssurveyed by the Bank of Montreal. The last time BMO sampledcross-border prices in May 2012 the gap was 14 percent. ()

* Canadian Prime Minister Stephen Harper's former chief ofstaff had a binder full of details on Senator Mike Duffy'sofficial and personal activities, but appears not to haveprovided it to auditors reviewing Duffy's expenses nor to policewhen they first opened an investigation.()

Reports in the business section:

* A Canadian firm is at the heart of America's historichealthcare overhaul - and smack in the middle of a politicalmaelstrom. A unit of CGI Group Inc, the informationtechnology giant based in Montreal, is the main contractorbehind the new federal marketplace for health insurance. Thesystem is the centrepiece of the Affordable Care Act, betterknown as Obamacare. ()

* The chief executive of Rogers Communications Inc is apologizing for a national outage that knocked out voice andtexting services across the company's wireless network. NadirMohamed issued his statement early Thursday, after Rogers saidits entire wireless network had been restored shortly beforemidnight eastern time. ()

NATIONAL POST

* NDP would pay for future spending commitments by raisingcorporate taxes back to the level they were at when theConservatives took office in 2006, said party leader TomMulcair. The Conservatives have steadily reduced the federalcorporate rate to 15 percent from 22 percent in 2006. The NDPleader mused about hiking corporate taxes during a caucusretreat in Saskatoon, while committing that Canadian combinedfederal and provincial rates would be "several points" lowerthan the combined U.S. federal and state rate of nearly 40percent. ()

FINANCIAL POST

* Kinross Gold Corp has pulled off an increasinglyrare feat in the mining industry: building a project on time andon budget. The Toronto-based miner announced Wednesday that itsremote Dvoinoye mine in Northeast Russia has entered commercialproduction. Kinross bought the project back in 2010 and built itfor a reasonable price of about $360 million. ()

* Giving a cash infusion to its shareholders will not takeJean Coutu Group Inc's out of the running for makingfuture acquisitions, the drug retailer's chief executive said onWednesday. Speculation that the company was building up a warchest with proceeds from its sale of shares in the U.S. retailerRite Aid Corp was dampened this week after the companyannounced it would return up to C$502 million ($482.81million)to shareholders through a share buyback and a specialone-time cash dividend. ()

Rates

View Comments (0)