PRESS DIGEST – Canada – May 14

May 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:

– Thai troops fired bullets and tear gas at anti government
protesters rioting near the U.S. and Japanese embassies Friday
as an army push to clear the streets sparked bloody clashes and
turned central Bangkok into a virtual war zone.

– Indonesian police announced Friday they had uncovered and
foiled a plot to assassinate the president and other top
officials, massacre foreigners in Mumbai-style attacks and
declare an Islamic state.

BUSINESS SECTION:

– A standoff over drilling regulations between the federal
regulator and oil companies is putting at risk the development
of massive oil deposits under the Beaufort Sea.

Canadian oil companies say they will not be able to drill
in Arctic deep waters unless the National Energy Board drops a
provision that requires them to be able to quickly complete a
relief well in the event of a blowout.

NATIONAL POST:

– Four years after a deal was struck, the Toronto Transit
Commission has optioned 186 new subway cars from Bombardier
Transportation to the tune of nearly $400 million.

The decision, voted on last week by city councillors who
sit on the TTC board and announced yesterday by Bombardier,
will bring 31 new subway trains to Toronto beginning this fall.

– Via Rail service between Ottawa and Toronto will return
to regular service Friday morning, after a CP Rail derailment
on Wednesday damaged the track south of Ottawa. Thursday’s
westbound trains between the two cities were cancelled and
passengers were bused.

FINANCIAL POST:

– China’s C$300 billion investment fund made another move
into Canada’s resource sector Thursday in a deal brokered by a
little-known Canadian investment bank that shut out its larger
domestic and international rivals.

China Investment Corp (Read more about U.S. companies investment into China) and Penn West Energy Trust (PWT_u.TO: )
have struck two deals — an oil-sands partnership worth C$817
million, and an equity investment worth C$435 million.

– U.S. authorities are stepping up their clampdown on Wall
Street with sweeping probes into some of the actions believed
to have exacerbated the financial crisis.

New York Attorney-General Andrew Cuomo is reported to have
subpoenaed eight big banks as he investigates whether they
misled credit-rating agencies to get high ratings on the
bundles of mortgages they were peddling to investors.

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PRESS DIGEST – Canada – May 14