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PRESS DIGEST-Canada - Oct 27

Published 2017-10-27, 06:49 a/m
© Reuters.  PRESS DIGEST-Canada - Oct 27

Oct 27 (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

** A unit of Brookfield Asset Management Inc BAMa.TO has bought the Sheraton hotel in downtown Toronto from Marriott International Inc MAR.O in a blockbuster C$335 million ($260 million) deal that is the largest transaction for a single hotel in Canada. https://tgam.ca/2yXv9xn

** China Communications Construction Co Ltd 601800.SS a Chinese state-owned firm that is buying Canada's Aecon Group Inc ARE.TO helped Beijing assert sovereignty over the disputed South China Sea by building artificial islands there, and was barred until recently from bidding on World Bank projects because of an acquisition's "fraudulent practices." https://tgam.ca/2yV15SN

** Shaw Communications Inc SJRb.TO has finally struck a deal with Apple Inc AAPL.O to sell the iPhone directly to customers as it looks to capitalize on a "once-in-a-lifetime" opportunity to expand the reach of its fledgling wireless business Freedom Mobile. https://tgam.ca/2yWharh

NATIONAL POST

** Lawyers representing Sears Canada employees and retirees have made a priority claim against the liquidating retailer for their C$270-million pension deficit and any unpaid special payments to the plan. Canadian oil giant Suncor Energy Inc SU.TO reported Thursday its strongest results since oil was at $100 a barrel - a profit of nearly C$1.3 billion in the third quarter - with help from a war on costs it says is re-positioning its oilsands as a low cost, low carbon, globally competitive business.

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