July 28 (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
** Veteran corporate director James Baillie has resigned
from the board of Home Capital Group Inc HCG.TO , just days
before the company is expected to shed light on the sudden drop
in its new mortgage business in the second quarter of the year.
The company said it plans to announce a new director in the
third quarter of the year. (http://bit.ly/1ewg0EZ)
** TransAlta Corp TA.TO deliberately timed outages at
power plants in Alberta at peak times in order to drive up
electricity prices, the province's utilities commission said in
a ruling on Monday. The Alberta Utilities Commission launched an
investigation after the market surveillance administrator
alleged that the company manipulated the electricity market. (http://bit.ly/1GXCzct)
** Flight simulator manufacturer CAE Inc CAE.TO is selling
its mining division, the Montreal-based company said on Monday.
It said Constellation Software Inc CSU.TO has acquired its CAE
Mining unit for an undisclosed amount. (http://bit.ly/1h29rMc)
NATIONAL POST
** Canada Mortgage and Housing Corp announced changes on
Monday that will make it easier for homeowners to rent out their
residences and qualify for a loan. The Crown corporation, which
controls a majority of the mortgage default insurance market,
says that starting Sept. 28 homeowners will able to count all
the income from rental units when qualifying for a loan. (http://bit.ly/1h2auvx)
** Despite weak oil prices and a slowdown in oilfield
activity, PrairieSky Royalty Ltd PSK.TO was able to grow its
revenue by 31 percent between the first and the second quarter.
PrairieSky, which recently marked a year since being spun out
from Encana Corp ECA.TO in a massive initial public offering,
reported revenue of C$71.8 million ($55.2 million) for the
second quarter on Monday. (http://bit.ly/1h2aUSD)
** TransAlta Corp TA.TO has signed a deal to buy 71
megawatts of solar and wind power generation capacity in the
U.S. in a deal worth $75.8 million. (http://bit.ly/1h2beRw)
($1 = 1.3018 Canadian dollars)