PRESS DIGEST – Canada – April 14

April 14 (BestGrowthStock) – The following are top stories from
selected Canadian newspapers. Reuters has not verified these
stories and does not vouch for their accuracy.

THE GLOBE AND MAIL:

– A series of strong earthquakes struck a far western
Tibetan area of China Wednesday, killing at least 400 people
and injuring more than 10,000 as houses made of mud and wood
collapsed, trapping many more, officials said.

– Two prominent tobacco companies will pay $550 million to
the provincial and federal governments to settle lawsuits that
accused them of shipping cigarettes from Canada to the United
States, only to have them smuggled back into Canada at bargain
prices.

R.J. Reynolds Tobacco Co of Winston-Salem, N.C., which no
longer sells cigarettes in Canada, will pay $325 million, while
its defunct subsidiary Northern Brands International Inc will
pay $75 million. JTI-Macdonald Corp of Toronto will pay $150
million.

BUSINESS SECTION:

– Royal Bank of Canada (RY.TO: ) raised mortgage rates for
the second time in two weeks, setting the stage for another
wave of hikes by major banks as they grapple with higher
financing costs.

– Sinopec’s $4.6 billion deal to acquire a minority stake
in the Syncrude oil-sands plant would give the Chinese
state-controlled company a veto over the crucial decision of
whether the company should upgrade more oil in Alberta or
export raw bitumen for processing. There has been a
long-running concern in Canada regarding the export of raw
resources for processing, and that it is the strategy that
China Petroleum & Chemical Corp, known as Sinopec, is expected
to pursue.

– Canada’s exporters are pushing deeper into diverse
markets as global trade rebounds from the collapse of the
crisis, positioning them to bolster recovery at a crucial time.

NATIONAL POST:

– U.S. President Barack Obama declared the world safer
Tuesday after a 47-nation summit agreed to a four-year deadline
on securing vulnerable nuclear materials from terrorists.

But the key issue of sanctions against Iran remained
unresolved with China refusing to commit itself on the issue
despite the President’s call for bold, swift action.

FINANCIAL POST:

– Canada and the United States have signed a deal to work
with the government of Mexico to eliminate the use of highly
enriched uranium in a Mexican research reactor.

Under the trilateral agreement announced Tuesday by the
White House, the conversion of the Mexican reactor from using
bomb-grade uranium to low-enriched fuel “will enable the
elimination of all the remaining highly enriched uranium” from
Mexico.

Stock Report

PRESS DIGEST – Canada – April 14