Oil rose to a new record above US$129 a barrel on Tuesday, spurred by strength in refined oil products markets, led by diesel, and a weak dollar.

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Shares in Pearl Exploration and Production Ltd. and Petrobank Energy and Resources Ltd. surged on Tuesday after a business publication reported India’s Oil and Natural Gas Corp. was readying a bid for a Canadian oil producer.

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BCE Inc. bounced back on Tuesday, as investors found value in the stock after a retreat in New York on Monday spurred by reports that the banks funding the company’s buyout were pressing to restructure the $34.8-billion deal.

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The Canadian biotech sector faces a funding crisis that threatens the sustainability of the industry as dismal stock price performance makes it increasingly difficult to attract new capital, Ernst & Young says in study released Tuesday.

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Shares in BCE have slumped amid reports of problems with its planned buyout … the price of oil continues to march higher, taking the Loonie with it … Home Depot posts a sharp loss … and Potash firms eye an expansion.

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The Toronto Stock Exchange’s benchmark index broke back above the 15,000-point mark on Tuesday — renewing its rise into record territory.

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The Treasury Department discriminates against millions of Americans who are blind or have poor vision by printing paper money that makes it impossible for them to distinguish between denominations, a federal appeals court ruled on Tuesday.

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The Canadian dollar rose to the highest in more than two months as prices of the nation’s commodity exports strengthened.
Canada’s dollar bought more than US$1 for a fourth straight day. Gold advanced for a fourth day and crude oil traded near its all-time high. Commodities account for about half of Canada’s exports.

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The new data reports substantial declines in both same-day car trips from the United States and the number of visitors from overseas nations.

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RTE.ieWorld Bank says food prices to remain high for 2-3 years - UPDATEForbes, NY - 8 hours agoSINGAPORE (Thomson Financial) - The World Bank said on Tuesday prices of food such as rice will stay high in the next two to three years, pushing back …UPDATE 1-World Bank: food prices to stay high but mkts intact Reuters IndiaWorld Bank says food prices to stay high for years Economic TimesWorld Bank's Daboub Says No Quick Fix for Soaring Food Prices CEP NewsRTT Newsall 238 news articles

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