Company News

PRESS DIGEST- Canada- Feb 21

Feb 21 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Canadian Imperial Bank of Commerce is expected to make major changes to its senior executive ranks and announce about 2,000 jobs cuts when it reports fiscal first-quarter earnings next week, according to sources familiar with the plan.

** Shipping company Atlantic Container Line has suspended calls at Halifax, and dozens of cargo vessels are sitting at anchor near the Port of Vancouver, as blockades bring freight shipments by rail to a halt across much of Canada.

** Chief Executive Officer of Telus Corp, Darren Entwistle's said on Thursday he has been instructed by the company's board to cut C$1 billion ($754.15 million) in network investments and slash 5,000 jobs over the next five years, if carriers are forced to drop their prices by 25 per cent or open up their networks to wireless resellers.


** Propane shortages in Quebec sparked by rail blockades is forcing companies to ration supplies to hospitals, farms and buildings, according to local businesses.

** Ontario's capital markets watchdog is proposing new protections for seniors through restrictions on the sale of mutual funds that carry large penalties if cashed in early, a fee structure that is being banned outright in all other jurisdictions across the country. ($1 = 1.3260 Canadian dollars) (Compiled by Bengaluru newsroom)