PRESS DIGEST – Canada – July 7

July 7 (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:

– Ontarians can expect more days like Monday when a Hydro
One breaker burst into flames, leaving 240,000 sweltering
residents in the province’s largest city without power during a
heat wave.

Much of the Crown-owned utility’s equipment is nearing the
end of its design life. As the provincial government reins in
spending for political purposes, it is neglecting the aging
infrastructure that keeps the air conditioners humming, critics
say.

– A state-of-the-art suicide barrier built to prevent
people from jumping to their deaths on the second most deadly
suicide bridge in North America has been 100-per-cent
successful in its mission.

In some ways, it has also been a failure, according to a
new study.

BUSINESS SECTION:

– With the Gulf oil spill continuing to poison U.S.
attitudes toward petroleum, strident new criticism has erupted
against a TransCanada (TRP.TO: ) pipeline that would deliver oil
sands crude to Texas, with a prominent U.S. politician joining
a loud chorus of critics opposed to the multi-billion-dollar
project.

The Keystone XL pipeline “is a multi-billion-dollar
investment to expand our reliance on the dirtiest source of
transportation fuel currently available,” Henry Waxman, an
important Democratic voice on energy in the U.S. House of
Representatives, wrote in a letter released Tuesday.

NATIONAL POST:

– A Somali man, Abdirahman Ali Gaal, removed from a May 30
TransAtlantic flight because he is on a terrorism watch list,
has been granted parole and will be allowed to join family
members in Seattle, his lawyer said.

– Commercial fishers on British Columbia’s Fraser River
have stayed tied to the dock for the past three summers,
waiting for a viable sockeye run that could fill their nets as
they have in distant decades.

But this year, if rumours and federal projections prove
true, anglers, commercial boats and First Nations bands alike
might finally catch some respite.

FINANCIAL POST:

– There has been much worry over the possibility of a
double-dip recession in the United States but one long-trusted
predictor of U.S. economic activity — the yield curve —
suggests chances are still slim.

Still, debate is brewing about whether the bond curve can
be a trusty gauge in a post-bubble, deleveraging environment
that many key industrialized economies face.

– Executives with Quebec drugstore chain Jean Coutu Group
Inc (PJCa.TO: ) are preparing shareholders for the possibility
the company’s finances could be bruised from Quebec’s decision
to follow Ontario in slashing the price of generic drugs.

PRESS DIGEST – Canada – July 7