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QLT Inc. (TSX:QLT) has posted a net loss of US$110 million in fiscal 2007 as sales of its Visudyne eye drug continue to decline. Revenue dropped 26.9% to US$127.9 million compared with US$175 million in 2006.

London-based BP plc has decided to withdraw its proposal to extract coal-bed methane gas from the Flathead Valley in southeastern B.C. Montana Senator Max Baucus made the announcement at a town hall meeting Thursday.

Vancouver's Goldcorp Inc. (TSX:G; NYSE:GG) has reported a 42% increase in revenue and a 288% rise in fourth-quarter profit for the period ending December 31, 2007. Quarterly revenue rose to $679.8 million compared with US$477.

Richmond-based Ritchie Bros. Auctioneers Inc. (TSX, NYSE:RBA) reported another record year with a 33% increase in annual profits on auction revenue for the year ending December 31, 2007. Annual profits rose to US$76 million compared with US$57.

Annual profits for Quadra Mining Ltd. (TSX:QUA) soared 845% for the year ending December 31, 2007. The Vancouver company's annual net earnings rose to $136.4 million, up from $14.4 million in 2006.

Condominiums appear to be the residence of choice for first-time home buyers in B.C. According to a report by Genworth Financial Canada, they're twice as likely to buy a condo compared with first-time buyers elsewhere in Canada.

Quarterly net income for Canfor Pulp Income Fund (TSX:CFX.UN) fell 73% in its fourth quarter ending December 31, 2007, due to the higher Canadian dollar and rising manufacturing costs. Quarterly profit fell to $12.1 million on sales of $215.

The provincial government's new carbon tax will shift a greater portion of the tax burden onto B.C.'s businesses, despite cuts to corporate taxes announced Tuesday by Finance Minister Carole Taylor.

Langley's Bevo Agro Inc. (TSX-V:BVO) has negotiated a new $24 million credit facility with Farm Credit Canada.

Vancouver's Northgate Minerals Corp. (TSX:NGX) has completed its US$257 million acquisition of Australia's Perseverance Corp. The deal doubles Northgate's gold production to 400,000 ounces of production a year from operations in Canada and Australia.