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Business

Rejected takeover bid lowers TSX

The Toronto stock market closed lower Monday, weighed down in part by energy stocks after Ottawa rejected a planned takeover in the sector. Traders also took in mixed U.S.

Enbridge inks gas deal with Encana

Pipeline operator Enbridge Inc. is buying assets from natural gas giant Encana Corp. in northwestern Alberta as it looks to grow its presence in the natural gas gathering and compression business.

CPP invests $300M in Bakken oil play

CPP Investment Board is investing $300 million in a U.S. company to help it fund a major acquisition in the Bakken formation, an emerging source of light oil underlying the Prairie provinces and mid-western U.S. states.

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.