May 18 (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
** Canada's two major railways are slashing expenses and
eyeing more layoffs amid a slump in freight made worse by the
fires in Northern Alberta. Canadian National Railway Co CNR.TO
has laid off 1,200 people and parked 400 locomotives, whereas
Canadian Pacific Railway Ltd CP.TO has laid off about 1,300
people and idled 665 locomotives.
Alberta's wildfires took a sudden shift toward major oil
sands plants north of Fort McMurray, overrunning at least one
work camp and throwing into limbo plans to restart more than one
million barrels per day of lost production.
Canadian Imperial Bank of Commerce CM.TO conducted an
internal investigation into alleged misbehaviour on its trading
floor amid claims of sexual harassment. Earlier this year, the
bank hired an outside firm to question trading floor staff about
a series of alleged incidents, according to three people
familiar with the situation.
POST
** Canadians with the worst credit ratings are ramping up
their debt, but the opposite is true for people with good
credit, who continue to pay down their loans, according to a
survey released on Wednesday by credit rating agency TransUnion.
An assessment by the Conference Board of Canada estimates
that the fire in northeastern Alberta resulted in a loss of 1.2
million barrels of oil per day for two weeks, translating into
C$985 million ($760 million) in lost gross domestic product.
Hudson's Bay Co HBC.TO announced on Tuesday it will
open 20 stores in the Netherlands beginning in 2017 - 17 under
its namesake banner, and three under the discount luxury banner
Saks Off Fifth. The new project is expected to create about
2,500 construction jobs and an equal number of positions in the
stores. = 1.2965 Canadian dollars)