Sept 15 (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
** Moody's Investors Service slashed Teck Resources Ltd 's
TCKb.TO credit to junk status, citing weak commodity prices
along with the miner's spending on its oil sands joint venture.
The downgrade to speculative or junk status is a blow to the
Vancouver-based miner, whose two main businesses - copper and
metallurgical coal - have suffered from the steep drop in
prices. (http://bit.ly/1QexQtb)
** SNC-Lavalin Group Inc SNC.TO is parting ways with its
chief executive officer as the Canadian engineering giant puts
faith in a new leader who it says can better drive earnings
after several unsteady quarters. Robert Card has agreed to step
down as CEO after a three-year tenure. He'll be replaced by
current chief operating officer Neil Bruce as of Oct. 5.(http://bit.ly/1QexWBd)
** The Ontario Liberals are on the verge of launching their
initial public offering for Hydro One, proving they are wasting
little time post-Labour Day to market the deal to investors. The
massive offering, expected to be worth C$2.25 billion, is one
step closer to reality now that the full underwriting syndicate
has been chosen, according to people familiar with the deal. (http://bit.ly/1QeGPe0)
NATIONAL POST
** Bombardier Inc 's BBDb.TO stock spiked last week,
gaining nearly 58 percent, but analysts at Macquarie say a
"significant correction" is looming. Investors rushed back into
Bombardier's shares after Reuters reported the company rejected
a Chinese offer for its train-making business that valued the
unit at $7 billion to $8 billion - significantly higher than the
estimates of most analysts and bankers. (http://bit.ly/1QeD7ku)
** The party that takes the reins after October's federal
elections must make pipelines a top priority, says the president
of the Canadian oil industry association. "After the election
(pipelines) will continue to be one of the biggest impediments
to the Canadian economy - and affect our ability to access
markets," said Tim McMillan, president of the Canadian
Association of Petroleum Producers.(http://bit.ly/1QeDA6r)
** Mayor John Tory is expected to reject Toronto's
prospective bid for the 2024 Summer Olympics, a source familiar
with the matter told the National Post on Monday. Tory is
scheduled to officially announce his decision outside City Hall
early Tuesday - the last day for potential entrants to indicate
their interest in a bid to the International Olympic Committee.
(http://bit.ly/1QeGcRK)