May 17, 2018 / 10:25 AM / 2 months ago

PRESS DIGEST-Canada-May 17

May 17 (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

** Hydro One Ltd's Chief Executive Officer Mayo Schmidt is warning that threats from politicians in Ontario's election campaign are weighing on the business and will have consequences. (tgam.ca/2rR4GvU)

** Alternative mortgage lender Home Capital Group Inc has secured a smaller, less expensive credit line from two Canadian banks to backstop any unexpected funding needs. (tgam.ca/2rOFIO5)

** Canadian diamond miner Stornoway Diamond Corp has cut its production and sales guidance for the year, putting pressure on its balance sheet at a critical time as it shifts operations at its Renard mine from open pit to below ground. (tgam.ca/2Kx3E00)

NATIONAL POST

** The Liberal government on Wednesday unveiled a financial backstop for the Trans Mountain pipeline, offering to reimburse developer Kinder Morgan Canada Ltd for financial losses due to British Columbia Premier John Horgan's "attempts to delay or obstruct the project." (bit.ly/2rR4LzI)

** Alberta Premier Rachel Notley threatened to cut off oil shipments to British Columbia "very quickly" on Wednesday, as her government passed its controversial new law that grants the government sweeping new powers over oil and gas shipments. (bit.ly/2KxtkJU)

** Ian Telfer, chairman of Goldcorp Inc, is the latest industry magnate to predict the world has reached "peak gold," saying that from here on out, mine production will continue to decline because all the major deposits have been discovered. (bit.ly/2KuxUbU) (Compiled by Bengaluru newsroom)

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