PRESS DIGEST – Canada – May 3

May 3 (BestGrowthStock) – The following are top stories from
selected Canadian newspapers. Reuters has not verified these
stories and does not vouch for their accuracy.


– Greece clinched a $150 billion bailout designed to shield
the battered country from debt speculators and restore
confidence in the ailing euro. But the sweeping reforms
demanded by the lenders threaten to make Greece’s recession
longer and nastier than expected.


– The race to buy Canada’s largest chain of newspapers
CanWest Global Communications Corp (CGS.V: ) has been whittled to
a few players. Fairfax Financial Holdings Ltd (FFH.TO: ) that
pulled out of the auction last Thursday, returned to the table
last Friday to submit a bid in conjunction with Torstar Corp
(TSb.TO: ). The bidders also include New York hedge fund Golden
Tree Asset Management, Birch Hill Equity Partners Management
Inc and West Face Capital Inc.


– Consumers in Ontario and British Columbia began paying
harmonized sales tax on a variety of services since last
Saturday, including airplane tickets, gym memberships and
theatre tickets.


– Despite great performance by Canadian stocks over the
past couple of months, new entrants have gotten a poor welcome.
This is proof that while investors are feeling a lot more
optimistic than they were a year ago, they are still cautious
when it comes to companies that to do not have a long track
record of performance.

The highly touted debut of Athabasca Oil Sands Corp’s stock
has fallen more than 20 percent within days of the closing of
the C$1.35 billion IPO. Two technology IPOs, Lulu Ltd and
NetMotion Wireless Inc, have been pulled, while Mitel Networks
Corp raised less money than hoped.

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PRESS DIGEST – Canada – May 3