PRESS DIGEST-Canada-Feb 25

Mon Feb 25, 2013 10:32am GMT

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Feb 25 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE GLOBE AND MAIL

* Ontario is taking steps to privatize the operation of its lucrative lottery business in hopes that the move, which would be a first among Canadian provinces, will rake in even more revenue to support public finances.

* Canada will feel the sting if U.S. Congress fails this week to avert what's known as sequestration, an array of massive, mandated spending cuts to a host of federal departments and agencies aimed at slashing America's $16 trillion national debt.

Reports in the business section:

* A hostile takeover bid for Inmet Mining Corp is looking ever more likely to succeed as the deadline approaches for shareholders to vote on the C$5.1 billion ($4.98 billion)offer, as the odds of a counter-bid ebb along with softening copper prices.

NATIONAL POST

* Canadian composer Mychael Danna took home the best original score trophy for his work on Life of Pi at Sunday night's Academy awards. Jim Erickson, who did not attend the ceremony, won an award for best production design for his work on Lincoln, while Guillaume Rocheron won for best visual effects, also for Life of Pi.

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