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  • China says ‘no way’ to United’s workaround Taiwan reference, U.S., Beijing

    September 4, 2018 4:00 AM 15

    The Civil Aviation Administration of China asked 44 foreign airlines to change their online references to Taiwan, Hong Kong and Macau to reflect these locations as part of China. For instance, Taiwan should be referred to as “China Taiwan” or the “China Taiwan region.” While almost all the airlines complied with the demand, China has said changes by United

  • Tim Hortons, franchisees in legal spat over ‘shattering’ coffee pots

    August 31, 2018 4:47 PM 10

    Tim Hortons and a group of its franchisees are embroiled in another legal battle — this time over allegations that the company’s coffee and tea pots are prone to shattering, resulting in scalded and injured employees. A letter from the Great White North Franchisee Association’s lawyer says some franchisees and employees suffered serious injuries from broken

  • Coca-Cola to buy Costa, Britain's largest coffee company

    August 31, 2018 12:14 PM 9

    The company said Friday it will buy the Costa coffee brand from British firm Whitbread for 3.9 billion pounds ($5.1 billion U.S.) in cash. Costa is Britain’s biggest coffee company with over 2,400 coffee shops in the U.K. and another 1,400 in more than 30 countries. It has 460 in China, its second-biggest market. The deal, expected to complete in the first

  • Newfoundland is finding new (non-U.S.) customers for its oil

    August 30, 2018 5:51 PM 10

    As the province moves forward with plans to double production by 2030, Newfoundland oil has made its way as far north as Norway and as far east as China. Croatia is set to become the newest customer. The ship Minerva Clara is en route to Omisalj on Croatia’s southern coast after loading at Newfoundland’s Whiffen Head crude terminal on Aug. 18, according

  • TD Bank ends Q3 earning season with 12 per cent increase in profit

    August 30, 2018 5:45 PM 12

    TD Bank Group wrapped up a bullish third-quarter earnings season for Canada’s biggest lenders on Thursday with a profit of nearly $3.11 billion, a 12 per cent increase from last year that was supported by growth at its U.S. business and a strong domestic economy. “While we continue to see pockets of market uncertainty stemming from the geopolitical climate

  • National Bank reports third-quarter profit up 10 per cent from year ago

    August 29, 2018 6:24 PM 9

    National Bank chief executive Louis Vachon said it was “another quarter of excellent performance in each business segment thanks to sustained revenue growth and effective cost management.” The bank said its personal and commercial banking group earned $248 million in the third quarter, up from $235 million in the third quarter of 2017. The wealth management

  • Foreign investment holds steady in Canada despite U.S. tax cuts

    August 29, 2018 6:17 PM 8

    OTTAWA—Fears of a mass investment exodus from Canada in the face of trade uncertainty and U.S. tax reforms aren’t materializing. Foreign direct investment totalled $8.9 billion last quarter, according to Statistics Canada data released Wednesday in Ottawa. While down from a relatively strong first quarter, the overall picture in the first half of 2018 is an improvement

  • DSW Inc. to close Town Shoes brand and 38 stores in Canada by January

    August 29, 2018 2:13 PM 13

    The company plans to close the 38 Town Shoes stores it operates in Canada by the end of its financial year in January. About 400 workers employed by Town Shoes are expected to be affected by the closures, but DSW says it is hoping to find the workers alternative employment at its Shoe Company, Shoe Warehouse and DSW brands. DSW purchased a 49.2 per cent interest

  • Thomson Reuters plans $9 billion buyback after Blackstone deal

    August 28, 2018 7:18 PM 22

    Thomson Reuters Corp. announced plans to purchase as much as $9 billion (U.S.) of its stock, a move to reward shareholders after the sale of its financial-and-risk operations to Blackstone Group. The price range for the tender offer is $42 to $47 a share, Thomson Reuters said on Tuesday. That represents a nearly 12 per cent premium over the stock’s trading

  • Scotiabank and Bank of Montreal make advances in productivity push

    August 28, 2018 5:03 PM 24

    “We spent over $3.1 billion on technology last year. The number this year will be even higher than that,” Scotiabank CEO Brian Porter said Tuesday in a YouTube video discussing earnings. “That’s really important — to digitize the bank, make it easier for our employees to service our customer base — and with that should come the benefit of lower costs