April 17, 2009 / 12:06 PM / 10 years ago

PRESS DIGEST - Canada - April 17

April 17 (Reuters) - The following are top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


- Canada’s top soldier issued an apology late Thursday after it was revealed the military plane carrying the remains of Trooper Karine Blais dropped off troops in Ottawa - where flags weren’t lowered - before heading to Trenton for her official repatriation.

- The key players who will determine whether Chrysler LLC has a future in Canada are digging in their heels, increasing the danger that a rescue effort could collapse.

- While global warming is expected to endanger most of the globe’s woodlands, trees may prosper in Canada’s Far North, scientists say.

- Ottawa is refusing to rescue AbitibiBowater Inc ABWTQ.PK with loan guarantees, putting thousands of jobs in communities across Canada at risk after the forest products giant filed for bankruptcy protection.

Report on Business Section

- Consumer prices in Canada rose just 1.2 per cent in March compared to a year earlier, with rising food costs offset by cheaper gas and cars, Statistics Canada says.

- Even risky companies are regaining access to credit markets as sales of high-yield bonds surge, signalling that the lending tap is opening further as investors regain confidence that the global economy has avoided a depression.

- Royal Bank of Canada (RY.TO) will take a charge of roughly $850 million in the current quarter because of the impact that the soured U.S. economy is having on its U.S. operations.

- Failing to push paper in the digital age there are two epic stories of why AbitibiBowater, the world’s largest newsprint producer, was driven into bankruptcy protection Thursday.


- Though he said the Castro regime in Cuba must embrace democracy and reject its outdated Cold War communist ethos, Prime Minster Stephen Harper added the U.S. embargo on the Caribbean nation has not worked.

- The Montreal Canadiens put together a strong effort, but head coach Bob Gainey said he would like to see his team play even better in Game 2 on Saturday night.

Financial Post Section:

- AbitibiBowater Inc tried a creative debt-restructuring process out of court, but in the end filed for bankruptcy protection in the United States and will file under the Companies’ Creditors Arrangement Act in Canada Friday.

- The federal industry minister insists his government will not use taxpayer money allowing Chrysler LLC and General Motors Corp to continue building cars in Canada unless the Canadian Auto Workers makes significant pay concessions the union has already rejected.

- At long last, the initial public offering is showing signs of life, adding yet another dimension to the current equity market rally that continued on both sides of the border on Thursday.

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