November 29, 2012 / 9:55 AM / 5 years ago

PRESS DIGEST-Canada-Nov 29

Nov 29 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


* Susan Rice’s would-be path to the U.S. State Department hit another snag on Wednesday following revelations that she owns significant stock in Calgary-based TransCanada Corp , the energy giant hoping to win approval from the Obama administration to build its Keystone XL pipeline. ()

* Canada and Denmark have reached a tentative agreement on where to set the boundary between the two countries in the Lincoln Sea. The body of water is in the Arctic Ocean just north of Ellesmere Island and Greenland. The tentative agreement builds on a 1973 treaty which established the maritime boundary between the two countries. ()

Reports in the business section:

* Canada’s most populous province is settling into a troubling era of stagnant growth that could be alleviated if businesses stop sitting on “dead money” and ramp up investments, a study to be released on Thursday argues. The group singles out the “dead cash” on the balance sheets of Ontario businesses as an opportunity to boost the province’s prosperity. ()

* The North American energy glut is exacting a growing toll on the treasuries of Canada’s western provinces, as corporate spending and profits fall far below expectations. With oil backing up behind full pipelines and Canadian energy companies selling their most lucrative product at large discounts, corporate earnings are tumbling far below expectations. ()


* The latest leak from the Canada-European Union free trade talks — for what would a closed door, confidential negotiation be without biweekly leaks — has caused more than the usual consternation among the Usually Consternated. According to the documents, prepared for the EU Trade Commission and leaked to La Presse, the EU is pushing for access to government procurement in areas where its firms are now excluded from bidding, such as energy and public transit. ()


* In what is ballooning into the largest corporate scandal in Canada’s history, Quebec anti-corruption police have arrested Pierre Duhaime, the former chief executive of engineering giant SNC Lavalin Group Inc, and begun efforts to extradite another former company executive who is in a Swiss jail. ()

* Inmet Mining Corp said it has rejected a takeover proposal from rival copper miner First Quantum Minerals Ltd that values the company at C$70 a share, or about C$4.9 billion. Toronto-based Inmet called the cash-and-stock offer “highly conditional” and said that its board determined that it is not in the best interests of shareholders. ()

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