November 9, 2012 / 10:26 AM / 5 years ago


Nov 9 (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 Conservative-dominated Senate is likely to defeat gambling legislation that was supported unanimously by all parties in the House of Commons.

A large number of Conservative and Liberal senators are ready to defeat a private member’s bill that would allow Canadians to bet on a single sports event. ()

* Two people were killed as an explosion loud enough to be heard for kilometers ripped through an industrial plant in Quebec on Thursday, triggering a fire that produced a thick, dark cloud of toxic smoke. ()

Reports in the business section:

* The U.S. Television Coalition, a group of five local stations, is asking Canadian cable, satellite and Internet TV providers to pay for the right to distribute their signals to viewers. The signals are currently plucked off the air and redistributed to Canadian viewers without any direct compensation paid to the stations.

The coalition comprises WIVB and WNLO, Buffalo stations that carry the CBS signal; the Minneapolis-based ABC affiliate KSTP; NBC affiliate WDIV in Detroit; and the NBC affiliate in Rochester. ()

* Frank Stronach, the 80-year-old founder of auto parts giant Magna International Inc is stepping down from the board of directors of the company he founded in 1957.

Stronach said he is too busy starting a new political party in Austria and getting his latest venture - a chain of steakhouses serving organic beef - up and running to remain on Magna’s board. ()


* Politicians turned down an application to re-zone land near Nestle Canada’s factory in Toronto for a residential and commercial development.

Nestle Canada officials spoke out against any residential development on the land, arguing that increased traffic and potential noise concerns from new residents will affect the viability of their 24-hour, 7-day-a-week business. ()


* Some investors still seem to think governments will rescue failing large banks despite new rules designed to allow troubled institutions to collapse without taxpayer bailouts, the head of the Group of 20s Financial Stability Board said on Thursday.

Mark Carney, who is also governor of the Bank of Canada, said the FSB had made progress in implementing reforms to ensure no bank was considered “too big to fail,” but that more work may need to be done. ()

* Close to C$120 million ($120.3 million) in revenues generated by TMX Group Inc could be affected by a data fee review undertaken Thursday by the Canadian Securities Administrators, according to analysts at RBC Capital Markets.

The umbrella group for Canada’s securities regulators is looking into possibly regulating the fees equity marketplaces, such as stock exchanges, charge for data. ()

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