May 20, 2020 / 12:28 PM / 17 days ago

PRESS DIGEST- Canada-May 20

May 20 (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

** Air Canada's Chief Financial Officer Michael Rousseau said on Tuesday that 20,000 layoffs will allow the Montreal-based airline to reduce its daily cash burn of $22 million. tgam.ca/2Xea3VR

** Facebook Inc will pay a $9 million penalty in a settlement with Canada's Competition Bureau after the watchdog concluded the social media giant made misleading claims about protecting user privacy while improperly sharing data with the British consulting firm Cambridge Analytica. tgam.ca/2ToKCjb

NATIONAL POST

** Canada's consumer debt levels are set to soar as homeowners struggle to pay down pricey mortgages, adding to debt strains that were troublesome even before the coronavirus pandemic, Canada Mortgage and Housing Corporation (CMHC) Chief Executive, Evan Siddall said on Tuesday. bit.ly/2zeMnbW

Compiled by Bengaluru newsroom

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