PRESS DIGEST- Canada - Aug 25

Mon Aug 25, 2014 5:54am EDT

Aug 25 (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

** The Toronto Port Authority has won a key early showdown with the city on the controversial issue of expanding the island airport to allow jets. City staff are participating in an environmental assessment for the expansion without the port authority having signed off on limits on the numbers of passengers and aircraft. This comes only months after Toronto's deputy city manager warned that agreement on that issue was "essential for moving forward." (bit.ly/1mH1acQ)

** Colder summer weather across Ontario has put pressure on tourism-dependent businesses that rely on July and August to generate the bulk of their profits. The bad weather has also had an impact on the boating industry in Ontario and the marinas and gas bars that support them. (bit.ly/1tvz6io)

Reports in the business section:

** Bank of Canada Governor Stephen Poloz wants to make something perfectly clear: When the Federal Reserve starts raising interest rates, Canada's central bank won't necessarily follow immediately. "The main thing people should understand is that our policy is quite capable of being fully independent, as it has been these past few years," Poloz said in an interview at the annual gathering of central bankers and economists at Jackson Hole, Wyoming, over the weekend. (bit.ly/1nsPieJ)

NATIONAL POST

** Prime Minister Stephen Harper is "on the wrong side of history" in his refusal to launch a public inquiry to study the high number of missing and murdered aboriginal women, federal Liberal Leader Justin Trudeau said on Saturday. Trudeau was in Moncton, New Brunswick, where he said the recent case of Tina Fontaine, a 15-year-old aboriginal girl found dead in Winnipeg, highlights the need to begin an inquiry. Harper said earlier this week that Fontaine's death was a crime and should not be viewed as a "sociological phenomenon." (bit.ly/1p7LVPG)

** Seeking to profit from Canada's new medical marijuana regulations - which put the production and sale of high-grade weed into the hands of corporations and penny-stock outfits - promoters are turning to former police chiefs and prominent politicians to help sell their products and attract mom and pop investors. (bit.ly/1AMkLk1)

FINANCIAL POST

** Tim Hortons Inc's coffee could soon be the property of Burger King Worldwide Inc, with the two companies confirming late Sunday night that they are in discussions for the U.S. burger chain to buy Canada's coffee and donut chain. The big draw for Burger King, according to a report from the Wall Street Journal, is the potential for tax inversion - effectively relocating the company's home base to Canada to take advantage of the country's comparatively lower tax base. (bit.ly/XLryg9)

** Eugene Melnyk, the billionaire owner of the Ottawa Senators and founder of drugmaker Biovail Corp, is waging war against the company that now controls his one-time business. Melnyk alleges that Valeant Pharmaceuticals International Inc is masquerading as a Canadian company to make use of this country's international fiscal treaties and dodge U.S. taxes. He predicts it will all eventually implode if American authorities claw back the taxes he believes Valeant may owe. (bit.ly/1t5LLKi) (Compiled by Rama Venkat Raman in Bangalore)

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