Published Feb 15, 2024 • Last updated 4 days ago • 8 minute read
Cups of coffee on the counter at a Tim Hortons outlet in Oakville, Ont.Photo by Chris Young/The Canadian Press files
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RBI expects to have 40,000 restaurants, $60 billion in sales by 2028
Restaurant Brands International Inc. says it expects its quick-serve empire to span 40,000 restaurants and achieve a collective US$60 billion in sales by 2028.
The Tim Hortons, Burger King, Popeyes Louisiana Kitchen and Firehouse Subs owner has about 30,000 restaurants these days and in its most recent financial year saw US$42.8 billion in system-wide sales.
Speaking at an investor day event in New York today, RBI executives said they expect the company’s adjusted operating income to hit $3.2 billion by 2028, up
Published Jan 11, 2024 • Last updated 3 days ago • 11 minute read
A Hertz office in San Francisco. The company is planning to sell one-third of its EVs in the U.S.Photo by Justin Sullivan/Getty Images
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Hertz to sell 20,000 EVs in shift back to gas-powered cars
Hertz Global Holdings Inc. plans to sell a third of its United States electric vehicle fleet and reinvest in gas-powered cars due to weak demand for the battery-powered options.
The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing. Hertz expects to record a non-cash charge in its fourth-quarter results of US$245 million related to incremental net depreciation expense.
“The company expects to reinvest a portion of the proceeds from the sale of EVs into
High inflation. A complicated interest rate cycle. Alberta’s controversial pension plans. Netflix’s password sharing crackdown. Canada’s most livable cities. Rising mortgages payments. Recession fears. It’s safe to say that there has been no shortage of news this year.
In the final weekly digest of 2023, we’re taking a look back at The Globe’s most-read business and investing stories of the entire year. Get caught up on the biggest stories that resonated with readers on a variety of topics from housing, debt, critical minerals and more.
‘We’re barely making it’: Eight Canadian stories reveal the pain of soaring mortgage costs
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Colin Tran wants to purchase a home, but can’t afford high mortgage costs. Instead he’s saving using the new First Home Savings Account.JASON FRANSON/The Globe and Mail
In a year of high inflation and housing unaffordability, Canadian homeowners were especially feeling the squeeze of interest rates. Irene Galea spoke to Canadians facing difficult decisions in order to continue paying off their loans. They’re deferring retirement, cutting back expenses and worrying about how they will cover their next mortgage payment. Some are even lengthening their mortgage amortization, stretching out the duration of their payments from 15 or 25 years to 30 years or beyond to keep their payments down. These are their stories.
Opinion: Netflix’s desperate crackdown on password sharing shows it might fail like Blockbuster
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This photo shows a logo for Netflix on a remote control in Portland, Ore.Jenny Kane/The Associated Press
When Netflix announced in February that it would crack down on password sharing, Canadians users were left questioning whether it was still worth paying the subscription fee. In a column for The Globe and Mail, Ken Birch, director of the Institute for Technoscience and Society at York University, raises the question of whether the move – and Netflix’s business model and monetization strategy – is viable in the long-run. He writes: “Netflix is facing a self-defeating cycle with its subscription changes.” Fast forward to the end of the year, Netflix has reported strong third-quarter results and increased its subscriber base – sending shares surging.
The 100 most livable cities in Canada
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Illustration by Kathleen Fu
One of The Globe’s popular stories of the year in general was the inaugural ranking of Canada’s 100 most livable cities. The data-driven list places an emphasis
Published Nov 06, 2023 • Last updated 1 day ago • 21 minute read
Canada’s corporate ethics czar says it’s launching a fact-finding investigation into allegations that Zara Canada Inc. is working with companies that use forced labour in China. People tour by a ZARA flagship store at a shopping mall in Beijing, Wednesday, June 21, 2023. THE CANADIAN PRESS/AP-Photo by Andy Wong/The Canadian Press/AP files
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5:00 p.m.
Market close: Energy weakness weighs on TSX as U.S. stock markets rise
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Weakness in energy stocks weighed on Canada’s main stock index today, while U.S. markets edged higher to start off the week.
The S&P/TSX composite index closed down 80.91 points at 19,743.94.
In New York, the Dow Jones industrial average was up 34.54 points at 34,095.86. The S&P 500 index was up 7.64 points at 4,365.98, while the Nasdaq composite
Published Oct 23, 2023 • Last updated 28 minutes ago • 12 minute read
Canadians are becoming less optimistic about their financial health and their wealth.Photo by Peter J. Thompson/Financial Post
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1:21 p.m.
Report calls for national water management plan for Canada’s agri-food sector
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A farmer holds a canola plant that has been stricken by drought on a grain farm near Osler, Sask., 2021.Photo by Kayle Neis/Bloomberg files
The Canadian Agri-Food Policy Institute is recommending that governments across the country develop a national plan to sustainably manage and use water for the agri-food sector.
In a report released Monday, the institute called for ambitious commitments from governments and partnerships with stakeholders to prioritize the critical natural resource.
“Water is a strategic asset for Canada, and an increasingly critical and important one,” said Tyler McCann, CAPI managing director and
