PRESS DIGEST-Canada - July 1

July 1 (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 economy slowed unexpectedly in May, according to preliminary data from Statistics Canada, but economists don't expect this to deter the Bank of Canada from pushing ahead with an oversized interest rate hike in July to try to tame inflation. https://tgam.ca/3yxABFf

** After six years of contentious negotiations, Health Canada has officially finalized its plan to put warning labels on sugary, salty and fatty foods, including granting a last-minute exemption for ground meat. https://tgam.ca/3yvFFdt

** Plusgrade LP has completed a $385 million takeover of publicly listed Points.com Inc, combining two Canadian digital companies that help travel giants make billions of dollars in ancillary revenue. https://tgam.ca/3ntngYn

NATIONAL POST

** Air Canada is cancelling more than 150 flights a day in July and August due to "unprecedented and unforeseen strains" in the global aviation industry, chief executive Michael Rousseau said in an emailed statement to customers on Wednesday. https://bit.ly/3OCL2No

** Canada's financial consumer watchdog has introduced new requirements that aim to protect Canadians in their dealings with banks, particularly when it comes to sales practices and the handling of consumer complaints. https://bit.ly/3ugiSzS

** Canada's East Coast has only enough natural gas supply to accommodate one new liquefied natural gas (LNG) export facility, and the project that would boost shipments to Europe the fastest is Repsol's, said Canada's environment minister. https://bit.ly/3Ad3UOS (Compiled by Bengaluru newsroom)