Business

MARKETS CLOSETORONTO — The Toronto stock market handed in a negative finish for a second straight session Wednesday, pressured by the energy sector as oil prices fell while financials stepped back amid tepid reaction to major bond issues in the U.S. and Britain.

A strong year in the agricultural sector allowed Cervus LP (TSX:CVL.UN) to nearly double its net earnings in 2008, despite a construction slowdown.

A new retailer should take up residence in a long-vacant commercial building in Liberty Crossing this summer.

A massage therapy and acupuncture clinic on Ross Street will create additional parking frustrations in an already congested area, says an apartment owner.

WASHINGTON — President Barack Obama pressed global leaders in a written message Tuesday to take “bold, comprehensive and co-ordinated” steps against the recession.

CALGARY — Suncor Energy Inc. (TSX:SU) will likely expand its refining network when it merges with Petro-Canada (TSX:PCA), rather than shut down gasoline-production operations as some have feared, an energy analyst said Tuesday.

A used auto dealership has received approval to operate at the site of a former service station, albeit for a shorter period.

NAL Oil & Gas Trust (TSX:NAE.UN) has struck a deal to take over Alberta Clipper Energy Inc. (TSX:ACN) in a transaction valued at $115 million including $78 million of assumed debt.

TORONTO — A U.S. government plan to buy up toxic banking assets and provide a boost to lending could rejuvenate both the American and Canadian economies, according to economists and banking industry observers.

OTTAWA — The economy received some needed encouragement Monday with a sharp jump in stock markets and a report showing Canadians are less despondent about their prospects.