Feb 10 (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
** Husky Energy Inc HSE.TO has laid off an undisclosed
number of employees to cut costs while oil prices hover near a
12-year low with little prospect for a short-term recovery.
Husky, controlled by Hong Kong billionaire Li Ka-shing, said the
new cuts were needed to ensure the company remained resilient
through the current downturn and beyond.
WestJet Airlines Ltd WJA.TO is bracing for a prolonged
downturn in the Alberta economy with actions that could include
job reductions, Chief Executive Gregg Saretsky says. Toronto's Porter Aviation Holdings Inc has been quietly
searching for a buyer, throwing the future of its business model
as a classy, convenient rival to bigger Canadian airlines into
question. The search process is underway, according to people
familiar with the plans, and there is no guarantee it will
result in a transaction, but the company's financial backers
have been actively looking for an exit strategy through a sale.
POST
** Low-key Fortis Inc FTS.TO created a big splash on
Tuesday with a friendly offer to buy U.S. electricity
transmission company ITC Holdings Corp ITC.N , driven by the
prospect of capturing infrastructure growth opportunities in the
United States.
In another possible blow to Bombardier Inc BBDb.TO ,
WestJet Airlines Ltd WJA.TO is in talks with the struggling
company to slow down deliveries of the Q400 turboprops it has on
order, part of a broader strategy to cope with Alberta's
deteriorating economy.