April 16, 2009 / 11:50 AM / 10 years ago

PRESS DIGEST - Canada - April 16

April 16 (Reuters) - The following are top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


- More than 2000 researchers, including some of the country’s most respected scientists, have signed an open letter to the Prime Minister calling the funding cuts in the January budget “huge steps backward for Canadian science.”

- A shared passion for the Montreal Canadiens is making for strange bedfellows in Quebec business circles, as a consortium made up of pop star Celine Dion, Seagram heir Stephen Bronfman and Quebecor Inc boss Pierre Karl Peladeau is considering a joint bid for the storied NHL team, financial sources report.

- As Stephen Harper tries to strengthen ties with China, Jean Chretien is part of a team wagering on a resort and casino project in another region in Asia.

Report on Business Section

- Canadian workers at the two crippled Detroit-based auto makers must agree to slash wages and benefits by as much as $19 an hour to prevent their employers from filing for bankruptcy protection, Industry Minister Tony Clement says.

- Intrawest ULC, the heavily indebted owner of 2010 Winter Olympics co-host Whistler Mountain, is considering selling assets as it negotiates with lenders to refinance and pay down a $1.7 billion loan.

- Spring brings new signs of life in housing market, with hints of recovery as the volume of existing home sales is up 7 percent in March.


- This spring’s Red River flood was expected to be no more than an “inconvenience” in Manitoba, nothing the flood-weary province hadn’t been through before. But yesterday forecasters predicted that some Manitoba communities will be hit with their second-worst deluge since the 1800s.

- The Conservative government has hired two former White House communications strategists as part of a “sustained” effort to raise Canada’s profile in the U.S. media - with Prime Minister Stephen Harper acting as salesman-in-chief, Canwest News Service has learned.

Financial Post Section:

- The country’s dismal productivity record is going to cost Canadians what amounts to a year’s worth of income once the recovery from the recession has run its course, says a leading economic forecaster.

- Rock-bottom interest rates combined with some relief from Ottawa to pull the housing market out of its tailspin, industry experts said Wednesday - temporarily, at least.

- Eight months into what is rated by many as the most devastating downturn experienced in the Canadian oil and gas sector, signs of a recovery are emerging.

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