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PRESS DIGEST-Canada-Feb 22

Source: Thomson Reuters Foundation - Fri, 22 Feb 2013 10:02 GMT
Author: Reuters
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Feb 22 (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

* The U.S. Federal Energy Regulatory Commission has concluded that 17 of the agencies which sold power to the state of California during a drought and power crisis in the summer of 2000 - including BC Hydro subsidiary Powerex and Alberta-based TransAlta Corp - unfairly drove up prices through market manipulation.

* The British Columbia government is not doing enough to protect the province's biodiversity - and it does not even appear to have a clear understanding of what biodiversity is, a report by the provincial Auditor General says.

Reports in the business section:

* The protracted and hostile battle for Western Wind Energy Corp appears to have been settled finally, with Brookfield Renewable Energy Partners L.P. winning control of the small Vancouver-based renewable power firm.

* The Ontario Securities Commission has revived its dormant case against three former Livent Inc executives, arguing their criminal convictions provide grounds for them to face regulatory sanctions.

NATIONAL POST

* British Columbia's Liberal government says it can make good on its promise to deliver surplus budgets this year and beyond, by hiking corporate and personal income taxes, selling off unused real estate and ratcheting down planned spending increases.

* Amid growing U.S. protests against the proposed Keystone XL pipeline, Alberta Premier Alison Redford announced she would be travelling to the U.S. to strengthen ties and promote the province's environmental record.

FINANCIAL POST

* Chief executive of Toronto-Dominion Bank, Ed Clark, was paid C${esc.dollar}10.75-million in total direct compensation last year, 5 percent lower than a year earlier. According to TD's proxy circular, the pay cut was based on "a number of factors," including the impact of litigation, thought to be a reference to legal settlements Canada's second-biggest bank paid last year related to its unwitting role in a highly publicized Florida Ponzi scheme.

* The rapid development of Alberta's oil sands is leading Canada toward a "staples trap," reinforcing the country's position as an exporter of raw resources, the Canadian Centre for Policy Alternatives says.

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