March 7 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
* Parliament is being asked to approve C$108 million ($105
million) for a new Canadian embassy building in central London
that the Department of Foreign Affairs bought in November, a
move that is raising questions over whether the Conservative
government's plan to save millions abroad is going to pan out.
* Alberta Premier Alison Redford plans to overhaul her
province's finances in her imminent budget by slowing spending
growth, pouring money into infrastructure and starting a savings
plan - all while backing away from election promises and sending
her province back into debt.
* The Toronto District School Board eliminated hundreds of
jobs on Wednesday night, including high school special education
teachers, guidance counselors and vice-principals.
Reports in the business section:
* A darker trade outlook, softer housing market and a more
dovish central bank have caught up to the Canadian dollar, as
investors and currency speculators look elsewhere for greener
pastures. The once high flying loonie has been losing ground to
most major currencies since last autumn, but the gap has widened
in recent weeks.
* After months of delays, the federal government is set to
release the long awaited rules for a key auction of wireless
spectrum. Industry Minister Christian Paradis will make an
official announcement in Ottawa on Thursday morning that will
outline the final regulations for the 700 megahertz auction that
will be held later this year.
* Talisman Energy Inc is putting large swaths of
its Canadian assets on the auction block in a bid to focus the
company and fill its coffers. Talisman wants to pull in between
$2 billion and $3 billion from land sales or joint ventures in
the next 12 to 18 months.
* Quebec Conservative Senator Pierre-Hugues Boisvenu,
already under scrutiny for his C$20,000 in housing expenses, is
facing more controversy after it was revealed he had been in a
romantic relationship with one of his Parliament Hill employees.
* Almost 300,000 members and supporters have signed up to
choose the next leader of the federal Liberal party, which could
be the highest number the party has ever seen. Party president
Mike Crawley says 294,002 people are eligible to vote.
* Media mogul David Black said on Wednesday he's close to
signing a memorandum for financing to build a new pipeline and
oil refinery in Kitimat, British Columbia. Speaking to the BC
Chamber of Commerce, Black said his new company Kitimat Clean
Inc expects to sign a memorandum of understanding with
Switzerland-based Oppenheimer Investments Group for a C$25
* After months of staring down increasingly threatening
economic data in Canada and abroad, the Bank of Canada appears
to have blinked - ever so slightly. The central bank on
Wednesday did what it has done for 2-1/2-years, leaving its
near-rock-bottom interest rate unturned. But the wording behind
the decision - keeping its trend-setting lending level at 1
percent - has been softened somewhat.