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Rosneft buys oil venture for $61 billion

Russian state-owned oil giant Rosneft strengthened its hold on the country's lucrative oil industry when it sealed a $61-billion deal, buying TNK-BP, the joint venture between a group of Russian oil oligarchs and a British oil giant.

RIM to provide security for mobile wallet system

Research In Motion has struck an agreement to help manage security technology that will make it possible for many Canadians to pay with their smartphones through "mobile wallets.

Flaherty wants to privatize CMHC

The Globe and Mail reports Finance Minister Jim Flaherty would like to privatize Canada Mortgage and Housing Corp. within five to 10 years.

Couple opens Island's first artisan yogurt plant in Comox Valley

A trip to France and a taste of small-batch yogurt inspired a Royston husband and wife to try their hand at producing their own yogurt using local, natural ingredients. The result, Tree Island Gourmet Yogurt, will be in stores on November 1.

Equity firm to buy Ancestry.com for $1.6 billion

Genealogy website Ancestry.com has agreed to be acquired by a group led by European private equity firm Permira Funds in a cash deal valued at about $1.6 billion.

Fresh start for airport creek

Contaminants cleaned up, new path for stream

Date book: New Thrifty Foods

• Thrifty Foods will officially open its east Courtenay store at Crown Isle on Wednesday. The 40,000square-foot facility is the 29th store for the Victoria-based chain, which is owned and operated by Sobeys Inc.

TSX drops after four days of gains

Earnings misses, falling commodities and a setback for telecom giant BCE Inc. combined to send the Toronto stock market into the red Friday after four straight days of gains. The S&P/TSX composite index fell 50.14 points to 12,415.

Reciprocity far from guaranteed

I 'm often approached with questions from taxpayers who feel an expense should be tax-deductible because the person they are paying is fully taxed on the receiving end.

Irving Shipbuilding sets deadline of January for Arctic patrol ship work

The president of Irving Shipbuilding Inc. is applying pressure on Ottawa to sign a design work contract for eight new Arctic patrol ships.