August 8, 2014 / 10:17 AM / 3 years ago

PRESS DIGEST- Canada - Aug 8

Aug 8 (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

* Canadian businesses are bracing for a possible next wave of Russian sanctions after Moscow banned imports of key food products in an escalating economic war over the conflict in Ukraine. (bit.ly/1qZNr8h)

* The water quality near the site of the massive tailings-pond breach this week meets drinking-water standards, according to preliminary test results, but the long-term impact on fish habitats and other wildlife remains unknown. A water usage ban will remain in place until additional testing is completed. The tailings-pond dam at Imperial Metals' Mount Polley mine burst early Monday morning, spewing millions of cubic meters of mining waste into the Cariboo district's waterways and triggering a local state of emergency. (bit.ly/1mskcmU)

Reports in the business section:

* After a months-long battle, Lululemon Athletica Inc founder Chip Wilson has reached an agreement with the yoga wear retailer's board that will see him team up with a private equity firm to get more sway over the board. (bit.ly/V5VvoT)

NATIONAL POST

* Canada is sending non-lethal military equipment to Ukraine to help the country protect its eastern border against Russian aggression. Defense Minister Rob Nicholson made the announcement at a military base in Trenton, Ontario, where a CC-130J Hercules plane loaded with "non-kinetic military equipment" was set to take off for the first in a series of military transport flights. (bit.ly/V3cV5Q)

* Municipal politicians in a region of Ontario that is home to one of the world's largest nuclear power plants violated provincial law by holding secret meetings over the storage of radioactive waste, an outside investigation has found. (bit.ly/1oitwPU)

FINANCIAL POST

* Oil exploration off Canada's East Coast is reaching fever pitch as oil companies warm up to the potential beneath the frigid waters near Newfoundland and Labrador and the Maritimes. TGS-NOPEC Geophysical Company ASA has teamed up with Petroleum Geo-Services ASA and Newfoundland and Labrador's Nalcor Energy to map about 47,000 square kilometers of seismic data. (bit.ly/1pg2bwZ)

* Manulife Financial Corp surprised investors by hiking its dividend for the first time since slashing it in half five years ago, in a bid to survive the toil of the financial crisis. (bit.ly/1qZP5qg) (Compiled by Rishika Sadam in Bangalore)

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