PRESS DIGEST- Canada- Sept 2

Sept 2 Tue Sep 2, 2014 6:12am EDT

Sept 2 (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

** Mexico's state-owned development bank is forging alliances with Canadian financial institutions to boost the stunted levels of commercial lending in the country, especially in the newly reformed energy sector where increased investment is sorely required. (bit.ly/1q5WOB9)

** Canadian forces veteran David MacLeod, who served for 27 years in Afghanistan, Bosnia and Kosovo, wants to take on veteran Conservative MP and former defence minister Peter MacKay in his Central Nova riding, setting up a tense dynamic for the 2015 general election. (bit.ly/1luRarZ)

** Canadian Prime Minister Stephen Harper is heading to a crucial summit of NATO leaders where the Western military alliance will give itself the power to respond to threats more quickly in the face of Russia's continued effort to destabilize and break up Ukraine. (bit.ly/1lFCJS4)

NATIONAL POST

** The Ontario Securities Commission's (OSC) fraud allegations against Sino-Forest Corp and five of its former executives are as spectacular as they come in market prosecutions: fraudulent overstatement of assets, falsified evidence of ownership, secret control over both suppliers and customers. Starting Tuesday, those allegations will finally be tested in a much-anticipated OSC tribunal hearing. (bit.ly/1pkIrU8)

** The risk that comes with international expansion weighed heavy on the latest results from Canada's biggest banks, but investors better get used to it. Canada's biggest banks continue to derive most of their earnings domestically, but a growing percentage of their profits comes from operations south of the border and other international markets. (bit.ly/1tq42Co)

** After suffering engine failure over northern England, Canada's own Avro Lancaster - one of only two airworthy specimens of the iconic Second World War bomber - remains effectively stranded in the UK as its crews scramble to overhaul the stricken 70-year-old warplane. (bit.ly/1vHmCXz)

** Thousands of people marched Monday in Toronto's annual Labour Day Parade to show their support for local unions, with more than 30 labour organizations taking part in the festivities. Joining them was federal Opposition Leader Tom Mulcair, who took shots at Canadian Prime Minister Stephen Harper and Liberal Leader Justin Trudeau for what he called their shortfalls on the labour file. (bit.ly/1pCTz4M)

(Compiled by Rama Venkat Raman in Bangalore)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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