July 16, 2012 / 10:24 AM / 5 years ago

PRESS DIGEST - Canada - July 16

July 16 (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

* Two independent Canadian advertising agencies are merging their ranks. Digital agency 58Ninety Inc on Monday, is set to announce it is buying brand agency Due North Communications. The new company will be rebranded under the name "One."

Report in the business section:

* Jim Flaherty is spinning his plan to overhaul the banking industry's dispute-settlement regime as "tough" and "pro-consumer."

NATIONAL POST

* Canada's Competition Bureau is pushing ahead with its own probe of a mushrooming international scandal that has already ensnared a venerable British bank and forced the resignation of its chief executive.

FINANCIAL POST

* Tough new mortgage guidelines announced last month by the federal banking regulator are aimed at letting some of the air out of Canada's over-inflated housing market. The trouble is, some of the rules don't affect credit unions, which make up a significant chunk of the consumer loan market in British Columbia, Quebec and other provinces.

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