Company News

PRESS DIGEST- Canada-June 12

June 12 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Foreign Affairs Minister François-Philippe Champagne disclosed two mortgages held by the state-run Bank of China to 'all relevant agencies' and that is all the transparency Canadians require about the financial arrangement, Deputy Prime Minister Chrystia Freeland said on Thursday.

** Canaccord Genuity Group Inc cut key staff in its Canadian energy franchise this week as part of the investment dealer's plan to find C$20 million ($14.78 million) in savings amid a worsening outlook for Alberta's already-struggling oil patch.

** Gerald Cotten, the late founder of collapsed cryptocurrency exchange QuadrigaCX, ran the company like a Ponzi scheme, engaging in fraudulent trading that created substantial losses for its users, Ontario's securities watchdog says in a new report.


** Domestic travel is picking up in Canada despite the ongoing economic shutdown, according to data from Airbnb Inc. The company said domestic bookings in the first week of June increased by 30% compared to the same week last year. Prior to COVID-19, 40% of all Airbnb bookings in Canada were domestic, while 60% were from international visitors.

** Canadian supermarket chains are starting to cancel their C$2-per-hour pay bumps for front-line staff, three months after implementing the wage increases as a way to entice employees to work in the middle of the pandemic. ($1 = 1.3530 Canadian dollars) (Compiled by Bengaluru newsroom)