November 30, 2012 / 10:07 AM / 5 years ago

PRESS DIGEST-Canada-Nov 30

Nov 30 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


* Public elementary school teachers across Ontario will start one-day walkouts in the second week of December, and high school teachers are considering whether to join their counterparts on the picket lines, The Globe and Mail has learned. Multiple school boards will likely shutter their buildings during the walkouts, leaving parents scrambling to find alternative child care. ()

* Quebec’s corruption inquiry has wrapped up its public hearings for the year after weeks of bombshell-laden testimony that blew up two mayors’ careers and managed to rattle the realms of politics, business and organized crime. The Charbonneau Commission is pausing its hearings until Jan. 21, after having toppled the long-standing mayors of Montreal and Laval during its fall session. ()

Reports in the business section:

* Chevron Corp got off to a rough start in a Toronto courtroom on Thursday as it tried to quash a move by the Amazon villagers attempting to collect on an $18.3 billion environmental judgment levelled against the company by an Ecuadorean court last year. In one of a handful of similar legal actions around the world, lawyers for the Ecuadorean plaintiffs are trying to get Ontario to recognize the massive Ecuadorean ruling against Chevron, which came last year in a tangled fight over decades of oil pollution in the Amazon. ()

* Canada’s richest family is turning to a long-time lieutenant who once worked as a news reporter to manage its vast empire. The Thomson family has elevated David Binet to the top job at Woodbridge Co Ltd, the private holding company that manages most of its C$20 billion ($20.17 billion) plus fortune, including controlling stakes in Thomson Reuters Corp and The Globe and Mail and a large equity position in BCE Inc . ()


* John Baird, Canada’s Minister of Foreign Affairs, stood before the United Nations General Assembly in New York, on Thursday and denounced a resolution recognizing a Palestinian state -- which he knew was about to pass by a huge majority -- while threatening possible repercussions from Canada. Baird called the UN motion “utterly regrettable,” accused the UN of abandoning its “policy and principle” and dropped the veiled threat of unspecified actions Canada might take in response. ()


* A new report says Ontario businesses need to start spending the “dead cash” languishing in coffers if the province wants to prevent “slow or stagnant” economic growth. The Task Force on Competitiveness, Productivity and Economic Progress says Ontario’s economy can no longer afford for companies to hold onto “larger cash balances” instead of investing the money to trigger more productivity. ()

* Canadian Pacific Railway Ltd’s goals for improving its operations are “unachievable” and a double-digit correction may be lying in the wings in the coming months, one analyst warned investors on Thursday. Walter Spracklin, an analyst at RBC Capital Markets, splashed cold water on CP’s red-hot stock in the lead up to its investor meeting next week, where the company’s new management under recently appointed chief executive, Hunter Harrison, is expected to unveil its turnaround plan. ()

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