Fri Jan 27, 2012 5:09am EST

Jan 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:

– The Conservative government is confirming what it’s been
hinting at for weeks: spending cuts in the upcoming federal
budget could be twice as deep as Ottawa’s original target.

Rather than aiming for a 5 percent cut overall and permanent
savings of $4 billion a year – as outlined in the 2011 budget -
the government is now clearly describing the 5 percent cut as
the low end of a targeted range.

Reports in the business section:

– Sino-Forest Corp the embattled timber company
facing fraud allegations, has failed to respond to requests by
the Ontario Securities Commission for information about its
assets and relationships with key business partners in China,
according to a senior OSC investigator.

NATIONAL POST:

– Addressing the World Economic Forum, Prime Minister
Stephen Harper signalled his government will bring forward
“major transformations” to the country in the coming months – in
areas such as the retirement pension system, immigration,
science and technology investment and the energy sector – while
making a forceful case for pro-growth economic policies over
entitlements.

– Federal justice and public safety ministers on Thursday
touted the progress they made over three days of meetings with
provincial and territorial representatives, but danced around
the total cost of new federal crime legislation that is expected
to place a heavy financial burden on the provinces.

Reports in the Financial Post section:

– Canada disassociated itself on Thursday from an
embarrassing official policy paper that said the country’s
independent energy regulator, now studying a controversial oil
pipeline, is in fact a government ally.

– Quebec’s ailing employment picture has suffered yet
another blow with the announcement by Mexican home appliance
maker Controlodora Mabe S.A. de C.V. that it is shutting down a
dryer manufacturing factory in Montreal’s east end.

Article source: http://www.reuters.com/article/2012/01/27/pressdigest-canada-idUSL4E8CR3HT20120127

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