PRESS DIGEST-Canada-Dec 4

Tue Dec 4, 2012 5:07am EST

Dec 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 GLOBE AND MAIL

* Republicans made their first formal proposal to avert America's fiscal cliff, offering to increase government revenue by $800 billion over a decade but the plan does little to narrow their differences with the White House. ()

* Canada's foreign aid agency should play an active role in promoting the country's economic interests abroad rather than limiting its scope to poverty reduction alone, international co-operation minister Julian Fantino said. ()

Reports in the business section:

* Accounting firm Ernst & Young LLP has been accused by regulators of failing to properly scrutinize the books of failed forestry company Sino-Forest Corp, marking a rare case of auditors facing allegations of wrongdoing by the Ontario Securities Commission. ()

* Saputo Inc is bolstering its presence in the United States with the $1.45 billion acquisition of dairy products maker Morningstar Foods LLC. ()

NATIONAL POST

* Iran has suspended the death sentence for Canadian resident Saeed Malekpour, a computer programmer who was facing execution on charges of developing and promoting porn websites. ()

FINANCIAL POST

* Canadian auto sales are expected to come in just shy of a new record in 2012 after a strong month of sales across the country in November. Ford Motor Co of Canada Ltd remained the top seller in Canada for the month, and for the year to date. ()