M esa Air Group Inc., whose operations include flying regional routes for major airlines like Delta, United and US Airways, has filed for Chapter 11 bankruptcy protection, hoping to shed financial obligations for leases on airplanes it no longer needs. Mesa’s liabilities were $869-million as on Sept. 30, 2009, including $133-million owed to Canadian aircraft maker Bombardier BBD.B-T .

T he Canadian dollar rose to its highest level in more than two months Tuesday as oil prices jumped and the U.S. dollar weakened. “The Canadian dollar has now become the latest fashion frenzy,” said David Watt, senior currency strategist at RBC Dominion Securities in a morning note, adding that global investors have been boosting their long positions in the currency recently.

B illionaire Warren Buffett’s Berkshire Hathaway Inc. BRK.B-N says it voted against food maker Kraft Inc.’s proposal to issue 370 million shares to finance its bid for British candy maker Cadbury PLC.

S tories Report on Business is following today : Iceland’s crisis deepens Iceland moved deeper into crisis today as its president, Olafur Grimsson, rejected a bill to pay more than $5-billion (U.S.) lost by consumers in Britain and the Netherlands amid its financial collapse. The so-called Icesave deal, passed by Iceland’s parliament last month, was unpopular with the electorate and, given the president’s refusal to sign it, will now go to a referendum. The decision, taken by a president whose position is largely symbolic, could have sweeping ramifications

O rders to U.S. factories posted a surprisingly big gain in November, reflecting strong demand in a number of industries from steel and industrial machinery to computers and chemicals. The advance was double what had been expected and provided further evidence that manufacturers are beginning to pull out of their steep slump.

T he number of buyers who agreed to purchase previously occupied homes fell sharply in November, a sign sales will fall this winter, undermining last summer’s recovery. The National Association of Realtors said Tuesday its seasonally adjusted index of sales agreements fell 16 per cent from October to a November reading of 96.

British insurance company Aviva PLC said Tuesday that it has agreed to buy all the shares in River Road Asset Management of Louisville, Kentucky. Aviva did not say what it was paying for the company, which has gross assets of $6 million and $3.6 billion of assets under management. Aviva has $549 billion of assets under management, not including the River Road acquisition.